10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2023

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 814-01351

STEELE CREEK CAPITAL CORPORATION

Maryland	85-1327288
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
210 S. College Street, Suite 1690, Charlotte, North Carolina	28244
(Address of principal executive offices)	(Zip Code)

(704) 343-6011

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	None	None

Securities registered pursuant to Section 12(g) of the Act: Common Stock, par value $0.001 per share

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes   ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☐ Yes   ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☐
Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

As of November 13, 2023, the registrant had 6,348,665 shares of common stock, $0.001 par value per share, outstanding.

STEELE CREEK CAPITAL CORPORATION

TABLE OF CONTENTS

		Page
PART I. FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements	1
	Consolidated Statements of Assets and Liabilities as of September 30, 2023 (unaudited) and December 31, 2022	1
	Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and 2022 (unaudited)	2
	Consolidated Statements of Changes in Net Assets for the three and nine months ended September 30, 2023 and 2022 (unaudited)	3
	Consolidated Statements of Cash Flows for the nine months ended September 30, 2023 and 2022 (unaudited)	4
	Consolidated Schedules of Investments as of September 30, 2023 (unaudited) and December 31, 2022	5
	Notes to Consolidated Financial Statements (unaudited)	25
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	39
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	55
Item 4.	Controls and Procedures	56
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	57
Item 1A.	Risk Factors	57
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	57
Item 3.	Defaults Upon Senior Securities	57
Item 4.	Mine Safety Disclosures	57
Item 5.	Other Information	57
Item 6.	Exhibits	58
Signatures		59

i

Part I. Financial Information

Item 1. Consolidated Financial Statements

Steele Creek Capital Corporation

Consolidated Statements of Assets and Liabilities

(in thousands, except per share data)

	September 30, 2023			December 31, 2022
	(unaudited)
Assets
Investments:
Non-controlled/non-affiliated company investments, at fair value (amortized cost of $140,749 and $137,084, respectively)	$	136,597		$	127,619
Cash		5,002			4,693
Receivable for investments sold		24,082			18,277
Prepaid expenses and other assets		236			218
Interest receivable		812			363
Total assets	$	166,729		$	151,170
Liabilities
Credit facility		86,312			83,150
Payable for investments purchased		22,152			15,253
Management fees payable		332			319
Interest payable		33			28
Incentive fees payable		85			24
Accounts payable and accrued expenses		499			664
Distributions payable		1,116			1,357
Total liabilities		110,529			100,795
Commitments and contingencies (Note 8)
Net Assets:
Common shares, $0.001 par value, 5,758,737 shares authorized, 5,758,737 and 5,643,073 shares issued and outstanding, respectively	$	6		$	6
Paid-in-capital in excess of par value		62,646			60,372
Total distributable (deficit)		(6,452	)		(10,003	)
Total net assets	$	56,200		$	50,375
Total liabilities and net assets	$	166,729		$	151,170
Net asset value per share	$	9.76		$	8.93

The accompanying notes are an integral part of these consolidated financial statements

1

Steele Creek Capital Corporation

Consolidated Statement of Operations

(unaudited)

(in thousands, except per share data)

	Three months ended September 30, 2023			Nine months ended September 30, 2023			Three months ended September 30, 2022			Nine months ended September 30, 2022
Investment income:
Non-controlled/non-affiliated company investments:
Interest income	$	3,554		$	10,026		$	2,268		$	5,545
Other income		35			35			-			-
Total investment income		3,589			10,061			2,268			5,545
Expenses:
Management fees		400			1,147			385			1,231
Interest and debt financing expenses		1,461			4,097			826			1,670
Professional fees		95			285			97			254
Incentive fees		85			161			-			(110	)
Administration expenses		61			176			47			150
Directors’ fees		20			60			20			60
Custody fees		11			34			14			29
Other general and administrative expenses		200			510			203			618
Total expenses		2,333			6,470			1,592			3,902
Less: management fees waived		(68	)		(495	)		(62	)		(543	)
Less: incentive fees waived		-			(8	)		-			-
Net expenses		2,265			5,967			1,530			3,359
Net investment income		1,324			4,094			738			2,186
Realized and unrealized (loss) gain on investments:
Net realized (loss) gain on non-controlled/non-affiliated company investments		1			(1,418	)		91			257
Net change in unrealized (depreciation) appreciation on non-controlled/non-affiliated company investments		1,851			5,312			(1,710	)		(10,406	)
Total net realized and unrealized (loss) gain on investments		1,852			3,894			(1,619	)		(10,149	)
Net (decrease) increase in net assets resulting from operations	$	3,176		$	7,988		$	(881	)	$	(7,963	)
Per share data:
Net investment income per share - basic and diluted	$	0.23		$	0.72		$	0.14		$	0.43
Net (decrease) increase in net assets resulting from operations per share - basic and diluted	$	0.55		$	1.40		$	(0.16	)	$	(1.55	)
Weighted average shares outstanding - basic and diluted		5,738			5,701			5,426			5,131

The accompanying notes are an integral part of these consolidated financial statements

2

Steele Creek Capital Corporation

Consolidated Statements of Changes in Net Assets

(unaudited)

(in thousands, except per share data)

	Three months ended September 30, 2023			Nine months ended September 30, 2023			Three months ended September 30, 2022			Nine months ended September 30, 2022
Operations
Net investment income	$	1,324		$	4,094		$	738		$	2,186
Net realized (loss) gain on investments		1			(1,418	)		91			257
Net change in unrealized appreciation (depreciation) on investments		1,851			5,312			(1,710	)		(10,406	)
Net increase (decrease) in net assets resulting from operations		3,176			7,988			(881	)		(7,963	)
Distributions to Stockholders
Distributions of realized income		(1,116	)		(3,242	)		(772	)		(2,386	)
Capital Share Transactions
Issuance of common shares		523			2,274			2,026			12,316
Repurchase of common shares		(149	)		(1,195	)		-			-
Total Capital Share Transactions		374			1,079			2,026			12,316
Net Assets
Net increase (decrease) in net assets during the period		2,434			5,825			373			1,967
Net assets at beginning of period		53,766			50,375			48,587			46,993
Net assets at end of period		56,200			56,200			48,960			48,960
Capital Share Activity
Issuance of common shares		39			116			217			1,181
Shares issued and outstanding at beginning of period		5,720			5,643			5,275			4,311
Shares issued and outstanding at end of period		5,759			5,759			5,492			5,492

The accompanying notes are an integral part of these consolidated financial statements

3

Steele Creek Capital Corporation

Consolidated Statement of Cash Flows

(unaudited)

(in thousands, except per share data)

	Nine months ended September 30, 2023			Nine months ended September 30, 2022
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	7,988		$	(7,963	)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments		(144,118	)		(133,566	)
Proceeds from sales of investments and paydowns		139,561			103,058
Payment in-kind interest income		(222	)		-
Amortization of premium/accretion of discount, net		(305	)		(146	)
Net realized loss (gain) on investments		1,418			(257	)
Net change in unrealized (appreciation) depreciation on investments		(5,312	)		10,406
Changes in operating assets and liabilities:
Receivable for investments sold		(5,805	)		59,288
Prepaid expenses and other assets		(18	)		(14	)
Interest receivable		(449	)		1
Payable for investments purchased		6,899			(48,792	)
Management fees payable		13			55
Interest payable		5			1
Incentive fees payable		61			(309	)
Accounts payable and accrued expenses		(165	)		229
Directors’ fees payable		-			(17	)
Net cash provided by (used in) operating activities		(449	)		(18,026	)
Cash flows from financing activities:
Proceeds from issuance of common shares		2,274			12,316
Repurchase of common shares		(1,195	)		-
Proceeds from issuance of debt		9,262			19,800
Repayments on debt		(6,100	)		(5,530	)
Stockholder distributions paid		(3,483	)		(2,721	)
Net cash (used in) provided by financing activities		758			23,865
Net increase in Cash		309			5,839
Cash, beginning of period		4,693			8,449
Cash, end of period	$	5,002		$	14,288
Supplemental disclosure of Cash Flow Information:
Operating Activities:
Interest paid	$	4,091		$	1,669

The accompanying notes are an integral part of these consolidated financial statements

4

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity (4)
Investments made in the United States
Aerospace & Defense
Amentum Government Services Holdings LLC	First Lien - Term Loan	2/15/2029		9.33	%	S + 4.00%		5.33	%		855	$	852	$	846		1.5	%
HDT Holdco, Inc.	First Lien - Term Loan	7/8/2027		11.40	%	S + 6.01%		5.39	%		509		498		249		0.4	%
LSF11 Trinity Bidco, Inc.	First Lien - Term Loan	6/14/2030		9.83	%	S + 4.50%		5.33	%		499		491		499		0.9	%
MAG DS Corp.	First Lien - Term Loan	4/1/2027		10.99	%	S + 5.50%		5.49	%		918		889		878		1.6	%
Peraton Corp.	First Lien - Term Loan	2/1/2028		9.17	%	S + 3.85%		5.32	%		954		951		954		1.7	%
Propulsion (BC) Midco SARL	First Lien - Term Loan	9/14/2029		9.14	%	S + 3.75%		5.39	%		993		989		993		1.8	%
Vertex Aerospace Services Corp.	First Lien - Term Loan	12/6/2028		8.92	%	S + 3.60%		5.32	%		985		982		987		1.8	%
Total Aerospace & Defense													5,652		5,406		9.7	%
Automotive
Autokiniton US Holdings, Inc.	First Lien - Term Loan	4/6/2028		9.93	%	S + 4.61%		5.32	%		970		965		953		1.7	%
First Brands Group, LLC	First Lien - Term Loan	3/30/2027		10.88	%	S + 5.43%		5.45	%		248		239		245		0.4	%
First Brands Group, LLC	First Lien - Term Loan	3/30/2027		10.88	%	S + 5.00%		5.88	%		980		980		969		1.7	%
Holley Inc.	First Lien - Term Loan	11/17/2028		9.40	%	S + 3.75%		5.65	%		906		907		877		1.6	%
Phinia Inc.	First Lien - Term Loan	7/3/2028		9.49	%	S + 4.10%		5.39	%		500		481		501		0.9	%
RealTruck Group, Inc.	First Lien - Term Loan	1/31/2028		10.46	%	S + 5.11%		5.35	%		1,000		975		980		1.7	%
Total Automotive													4,547		4,525		8.0	%
Banking, Finance, Insurance & Real Estate
AmWINS Group, Inc.	First Lien - Term Loan	2/19/2028		8.18	%	S + 2.86%		5.32	%		496		492		497		0.9	%
AssuredPartners, Inc.	First Lien - Term Loan	2/12/2027		8.82	%	S + 3.50%		5.32	%		985		984		984		1.8	%
Baldwin Risk Partners, LLC	First Lien - Term Loan	10/14/2027		8.92	%	S + 3.60%		5.32	%		748		743		743		1.3	%
Blackstone Mortgage Trust, Inc.	First Lien - Term Loan	5/9/2029		8.82	%	S + 3.50%		5.32	%		842		832		829		1.5	%
Citadel Securities LP	First Lien - Term Loan	7/29/2030		7.93	%	S + 2.61%		5.32	%		1,451		1,441		1,450		2.6	%
Cushman & Wakefield U.S. Borrower, LLC	First Lien - Term Loan	1/31/2030		8.67	%	S + 3.35%		5.32	%		499		490		492		0.9	%
DRW Holdings, LLC	First Lien - Term Loan	3/1/2028		9.18	%	S + 3.86%		5.32	%		531		529		531		0.9	%

5

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
FinCo I LLC	First Lien - Term Loan	6/27/2029		8.37	%	S + 3.00%		5.37	%		748		744		749		1.3	%
Greystar Real Estate Partners, LLC	First Lien - Term Loan	8/21/2030		9.15	%	S + 3.75%		5.40	%		528		520		528		0.9	%
Guggenheim Partners Investment Management Holdings, LLC	First Lien - Term Loan	12/12/2029		8.64	%	S + 3.25%		5.39	%		113		111		113		0.2	%
Jane Street Group, LLC	First Lien - Term Loan	1/26/2028		8.18	%	S + 2.86%		5.32	%		977		971		976		1.7	%
KREF Holdings X LLC	First Lien - Term Loan	9/1/2027		8.94	%	S + 3.61%		5.33	%		491		491		484		0.9	%
LendingTree, Inc.	First Lien - Term Loan	9/15/2028		9.20	%	S + 3.86%		5.33	%		1,485		1,484		1,243		2.2	%
Newport Parent, Inc.	First Lien - Term Loan	12/10/2027		11.93	%	S + 6.50%		5.43	%		811		788		814		1.4	%
OFSBS 2022-11A	Collateralized Loan Obligation	10/18/2035		8.89	%	S + 3.50%		5.39	%		1,000		1,000		1,000		1.8	%
OFSI BSL CLO XII, Ltd.	Collateralized Loan Obligation	1/20/2035		13.95	%	S + 8.85%		5.10	%		1,000		983		1,005		1.8	%
Osaic Holdings, Inc.	First Lien - Term Loan	8/17/2028		9.82	%	S + 4.50%		5.32	%		468		463		468		0.8	%
Paysafe Group Holdings II Limited	First Lien - Term Loan	6/28/2028		8.18	%	S + 2.86%		5.32	%		982		956		966		1.7	%
Resolute Investment Managers, Inc.	First Lien - Term Loan	4/30/2024		9.79	%	S + 4.40%		5.39	%		693		456		437		0.8	%
Russell Investments US Institutional Holdco, Inc.	First Lien - Term Loan	5/30/2025		8.92	%	S + 3.60%		5.32	%		1,558		1,548		1,488		2.6	%
Ryan Specialty Group, LLC	First Lien - Term Loan	9/1/2027		8.42	%	S + 3.10%		5.32	%		487		489		488		0.9	%
Sound Point CLO	Collateralized Loan Obligation	7/26/2036		14.23	%	S + 8.81%		5.42	%		500		468		495		0.9	%
Total Banking, Finance, Insurance & Real Estate													16,983		16,780		29.8	%
Beverage, Food & Tobacco
Flynn Restaurant Group LP	First Lien - Term Loan	12/1/2028		9.68	%	S + 4.36%		5.32	%		750		744		748		1.3	%
Total Beverage, Food & Tobacco													744		748		1.3	%
Capital Equipment
American Trailer World Corp.	First Lien - Term Loan	3/3/2028		9.17	%	S + 3.85%		5.32	%		679		674		654		1.2	%
Chart Industries, Inc.	First Lien - Term Loan	3/15/2030		9.17	%	S + 3.85%		5.32	%		997		993		1,000		1.8	%
DS Parent, Inc.	First Lien - Term Loan	12/10/2028		11.34	%	S + 5.75%		5.59	%		913		890		905		1.6	%
Energy Acquisition LP	First Lien - Term Loan	6/26/2025		9.77	%	S + 4.35%		5.42	%		623		623		619		1.1	%
Novae LLC	First Lien - Term Loan	12/22/2028		10.34	%	S + 5.25%		5.09	%		1,972		1,923		1,841		3.3	%
Total Capital Equipment													5,103		5,019		9.0	%

6

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Chemicals, Plastics, & Rubber
Albaugh, LLC	First Lien - Term Loan	4/6/2029		9.12	%	S + 3.75%		5.37	%		1,201		1,192		1,175		2.1	%
Bakelite UK Intermediate Ltd.	First Lien - Term Loan	5/29/2029		9.54	%	S + 4.15%		5.39	%		988		984		979		1.7	%
DCG Acquisition Corp.	First Lien - Term Loan	9/30/2026		9.92	%	S + 4.60%		5.32	%		1,219		1,220		1,211		2.2	%
H.B. Fuller Company	First Lien - Term Loan	2/15/2030		7.57	%	S + 2.25%		5.32	%		118		118		119		0.2	%
Sparta U.S. Holdco LLC	First Lien - Term Loan	8/2/2028		8.69	%	S + 3.36%		5.33	%		491		490		490		0.9	%
Tronox Finance LLC	First Lien - Term Loan	8/16/2028		8.83	%	S + 3.50%		5.33	%		1,000		990		993		1.8	%
Total Chemicals, Plastics, & Rubber													4,994		4,967		8.9	%
Construction & Building
Columbus McKinnon Corporation	First Lien - Term Loan	5/14/2028		8.42	%	S + 3.01%		5.41	%		715		710		716		1.3	%
Crown Subsea Communications Holding, Inc.	First Lien - Term Loan	4/27/2027		10.69	%	S + 5.36%		5.33	%		494		485		497		0.9	%
Janus International Group, LLC	First Lien - Term Loan	8/3/2030		8.68	%	S + 3.35%		5.33	%		633		627		632		1.1	%
Smyrna Ready Mix Concrete, LLC	First Lien - Term Loan	4/2/2029		9.67	%	S + 4.35%		5.32	%		1,234		1,203		1,239		2.2	%
TAMKO Building Products LLC	First Lien - Term Loan	9/20/2030		8.90	%	S + 3.50%		5.40	%		1,000		995		997		1.8	%
Total Construction & Building													4,020		4,081		7.3	%
Consumer Goods: Durable
Hercules Achievement, Inc. (Varsity Brands Holding Co., Inc.)	First Lien - Term Loan	12/15/2026		10.43	%	S + 5.00%		5.43	%		993		983		973		1.7	%
Hunter Douglas Holding B.V.	First Lien - Term Loan	2/26/2029		8.89	%	S + 3.50%		5.39	%		988		984		964		1.7	%
LHS Borrower, LLC	First Lien - Term Loan	2/16/2029		10.17	%	S + 4.85%		5.32	%		655		650		601		1.1	%
Mannington Mills, Inc.	First Lien - Term Loan	8/6/2026		9.40	%	S + 4.01%		5.39	%		427		427		381		0.7	%
Pelican Products, Inc.	First Lien - Term Loan	12/29/2028		9.79	%	S + 4.40%		5.39	%		983		980		934		1.7	%
Recess Holdings, Inc.	First Lien - Term Loan	3/29/2027		9.38	%	S + 4.00%		5.38	%		633		627		633		1.1	%
Total Consumer Goods: Durable													4,651		4,486		8.0	%
Consumer Goods: Non-Durable
Conair Holdings LLC	First Lien - Term Loan	5/17/2028		9.18	%	S + 3.86%		5.32	%		1,129		1,125		1,085		1.9	%
Total Consumer Goods: Non-Durable													1,125		1,085		1.9	%
Containers, Packaging & Glass
Canister International Group Inc.	First Lien - Term Loan	12/21/2026		10.17	%	S + 4.75%		5.42	%		485		484		487		0.9	%
Pactiv Evergreen Inc.	First Lien - Term Loan	9/24/2028		8.68	%	S + 3.25%		5.43	%		982		959		983		1.7	%

7

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Plaze, Inc.	First Lien - Term Loan	8/3/2026		9.18	%	S + 3.86%		5.32	%		656		649		635		1.1	%
Sabert Corporation	First Lien - Term Loan	12/10/2026		9.93	%	S + 4.61%		5.32	%		876		875		879		1.6	%
Total Containers, Packaging & Glass													2,967		2,984		5.3	%
Energy: Electricity
Astoria Energy LLC	First Lien - Term Loan	12/10/2027		8.93	%	S + 3.61%		5.32	%		938		935		940		1.7	%
Hamilton Projects Acquiror, LLC	First Lien - Term Loan	6/17/2027		9.93	%	S + 4.61%		5.32	%		802		786		800		1.4	%
Invenergy Thermal Operating I LLC	First Lien - Term Loan	8/14/2029		9.91	%	S + 4.61%		5.30	%		929		910		930		1.7	%
Invenergy Thermal Operating I LLC	First Lien - Term Loan	8/14/2029		9.91	%	S + 4.61%		5.30	%		71		70		72		0.1	%
Total Energy: Electricity													2,701		2,742		4.9	%
Energy: Oil & Gas
AL NGPL Holdings, LLC	First Lien - Term Loan	4/13/2028		9.04	%	S + 3.76%		5.28	%		663		666		664		1.2	%
AL NGPL Holdings, LLC	First Lien - Term Loan	4/13/2028		9.29	%	S + 4.01%		5.28	%		412		404		413		0.7	%
BCP Renaissance Parent L.L.C.	First Lien - Term Loan	10/31/2028		8.90	%	S + 3.50%		5.40	%		187		187		187		0.3	%
CQP Holdco LP	First Lien - Term Loan	6/5/2028		8.99	%	S + 3.60%		5.39	%		1,222		1,218		1,225		2.2	%
Delek US Holdings, Inc.	First Lien - Term Loan	11/19/2029		8.92	%	S + 3.60%		5.32	%		626		603		623		1.1	%
GIP Pilot Acquisition Partners LP	First Lien - Term Loan	10/4/2030		8.33	%	S + 3.00%		5.33	%		211		210		211		0.4	%
Prairie ECI Acquiror LP	First Lien - Term Loan	3/11/2026		10.17	%	S + 4.85%		5.32	%		500		494		500		0.9	%
Traverse Midstream Partners LLC	First Lien - Term Loan	2/16/2028		9.22	%	S + 3.85%		5.37	%		412		410		413		0.7	%
Total Energy: Oil & Gas													4,192		4,236		7.5	%
Forest Products & Paper
Schweitzer-Mauduit International, Inc.	First Lien - Term Loan	4/20/2028		9.18	%	S + 3.86%		5.32	%		978		971		968		1.7	%
Total Forest Products & Paper													971		968		1.7	%
Healthcare & Pharmaceuticals
Alvogen Pharma US, Inc.	First Lien - Term Loan	12/31/2023		10.79	%	S + 5.40%		5.39	%		490		488		479		0.9	%
Amneal Pharmaceuticals	First Lien - Term Loan	5/4/2025		8.93	%	S + 3.61%		5.32	%		989		932		974		1.7	%
ANI Pharmaceuticals, Inc.	First Lien - Term Loan	11/19/2027		11.43	%	S + 6.11%		5.32	%		983		973		983		1.7	%
ASP Navigate Acquisition Corp.	First Lien - Term Loan	10/6/2027		9.88	%	S + 4.51%		5.37	%		980		980		977		1.7	%
Athletico Management, LLC	First Lien - Term Loan	2/15/2029		9.79	%	S + 4.40%		5.39	%		247		240		208		0.4	%
Aveanna Healthcare LLC	First Lien - Term Loan	7/17/2028		9.27	%	S + 3.85%		5.42	%		425		425		384		0.7	%
Bayou Intermediate II, LLC	First Lien - Term Loan	8/2/2028		9.97	%	S + 4.60%		5.37	%		983		979		958		1.7	%
Carestream Dental Technology Parent Limited	First Lien - Term Loan	9/1/2024		10.23	%	L + 4.50%		5.73	%		888		881		784		1.4	%
CCRR Parent, Inc.	First Lien - Term Loan	3/6/2028		9.18	%	S + 3.86%		5.32	%		975		972		934		1.7	%

8

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Confluent Health, LLC	First Lien - Term Loan	11/30/2028		9.43	%	S + 4.00%		5.43	%		946		943		905		1.6	%
FC Compassus, LLC	First Lien - Term Loan	12/31/2026		9.88	%	S + 4.51%		5.37	%		1,218		1,217		1,181		2.1	%
Global Medical Response, Inc.	First Lien - Term Loan	10/2/2025		9.78	%	S + 4.51%		5.27	%		486		482		342		0.6	%
Golden State Buyer, Inc.	First Lien - Term Loan	6/21/2026		10.18	%	S + 4.85%		5.33	%		943		938		917		1.6	%
Help at Home, LLC	First Lien - Term Loan	10/29/2027		10.42	%	S + 5.00%		5.42	%		998		985		989		1.8	%
Help at Home, LLC	First Lien - Delayed Draw Loan	10/29/2027		10.42	%	S + 5.00%		5.42	%		126		125		125		0.2	%
Onex TSG Intermediate Corp.	First Lien - Term Loan	2/28/2028		10.38	%	S + 4.75%		5.63	%		978		965		913		1.6	%
Pacific Dental Services, LLC	First Lien - Term Loan	5/5/2028		8.93	%	S + 3.61%		5.32	%		210		210		210		0.4	%
PDS Holdco Inc.	First Lien - Term Loan	8/18/2028		10.18	%	S + 4.76%		5.42	%		1,337		1,333		1,102		2.0	%
PDS Holdco Inc.	First Lien - Delayed Draw Loan	8/18/2028		10.18	%	S + 4.76%		5.42	%		137		137		113		0.2	%
Select Medical Corporation	First Lien - Term Loan	3/6/2027		8.32	%	S + 3.00%		5.32	%		105		104		105		0.2	%
Sotera Health Holdings, LLC	First Lien - Term Loan	12/11/2026		9.07	%	S + 3.75%		5.32	%		219		214		220		0.4	%
TTF Holdings, LLC	First Lien - Term Loan	3/31/2028		9.43	%	S + 4.11%		5.32	%		635		631		635		1.1	%
U.S. Anesthesia Partners, Inc.	First Lien - Term Loan	10/1/2028		9.69	%	S + 4.36%		5.33	%		1,091		1,088		1,004		1.8	%
US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.)	First Lien - Term Loan	12/15/2027		10.74	%	S + 5.35%		5.39	%		983		977		955		1.7	%
Total Healthcare & Pharmaceuticals													17,219		16,397		29.2	%
High Tech Industries
Casa Systems, Inc.	First Lien - Term Loan	12/20/2027		12.22	%	S + 6.93%		5.29	%		1,277		1,277		994		1.8	%
Casa Systems, Inc. (3)	Equity	—		—		—		—			65		—		39		0.1	%
Casa Systems, Inc.	Warrants	—		—		—		—			33		—		—		0.0	%
Casa Systems, Inc.	Warrants	—		—		—		—			33		—		—		0.0	%
CE Intermediate I, LLC	First Lien - Term Loan	11/10/2028		9.02	%	S + 3.65%		5.37	%		985		978		976		1.7	%
Ingram Micro Inc.	First Lien - Term Loan	6/30/2028		8.65	%	S + 3.26%		5.39	%		730		725		730		1.3	%
LogMeIn, Inc.	First Lien - Term Loan	8/31/2027		10.27	%	S + 4.90%		5.37	%		973		958		650		1.1	%
Monotype Imaging Holdings Inc.	First Lien - Term Loan	10/9/2026		10.49	%	S + 5.10%		5.39	%		718		716		720		1.3	%
Quest Software US Holdings Inc.	First Lien - Term Loan	2/1/2029		9.77	%	S + 4.40%		5.37	%		1,485		1,473		1,244		2.2	%
Revspring, Inc. (fka Dantom Systems, Inc.)	First Lien - Term Loan	10/11/2025		9.65	%	S + 4.26%		5.39	%		998		994		984		1.7	%
Rocket Software, Inc.	First Lien - Term Loan	11/28/2028		9.68	%	S + 4.36%		5.32	%		753		742		743		1.3	%
VeriFone Systems, Inc.	First Lien - Term Loan	8/20/2025		9.65	%	S + 4.00%		5.65	%		1,374		1,365		1,271		2.3	%
Vision Solutions, Inc. (Precisely Software Incorporated)	First Lien - Term Loan	4/24/2028		9.61	%	S + 4.26%		5.35	%		979		977		951		1.7	%

9

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Watlow Electric Manufacturing Company	First Lien - Term Loan	3/2/2028		9.38	%	S + 4.01%		5.37	%		840		835		835		1.5	%
Zotec Partners, LLC	First Lien - Term Loan	2/14/2024		9.40	%	S + 4.01%		5.39	%		993		982		902		1.6	%
Total High Tech Industries													12,022		11,039		19.6	%
Hotel, Gaming & Leisure
Arcis Golf LLC	First Lien - Term Loan	11/24/2028		9.68	%	S + 4.25%		5.43	%		985		977		988		1.8	%
ClubCorp Holdings, Inc.	First Lien - Term Loan	9/18/2024		8.18	%	L + 2.75%		5.43	%		493		486		487		0.9	%
Fertitta Entertainment, LLC	First Lien - Term Loan	1/27/2029		9.32	%	S + 4.00%		5.32	%		985		984		977		1.7	%
Herschend Entertainment Company, LLC	First Lien - Term Loan	8/27/2028		9.18	%	S + 3.86%		5.32	%		197		196		198		0.4	%
Kingpin Intermediate Holdings LLC	First Lien - Term Loan	2/8/2028		8.82	%	S + 3.50%		5.32	%		300		297		299		0.5	%
Sabre GLBL Inc.	First Lien - Term Loan	12/17/2027		8.93	%	S + 3.61%		5.32	%		426		425		375		0.7	%
Sabre GLBL Inc.	First Lien - Term Loan	12/17/2027		8.93	%	S + 3.61%		5.32	%		272		272		240		0.4	%
Sabre GLBL Inc.	First Lien - Term Loan	6/30/2028		10.42	%	S + 5.10%		5.32	%		347		332		308		0.5	%
Total Hotel, Gaming & Leisure													3,969		3,872		6.9	%
Media: Advertising, Printing & Publishing
Oceankey (U.S.) II Corp.	First Lien - Term Loan	12/15/2028		8.92	%	S + 3.60%		5.32	%		985		977		945		1.7	%
Thryv, Inc.	First Lien - Term Loan	3/1/2026		13.93	%	S + 8.61%		5.32	%		819		816		821		1.4	%
Total Media: Advertising, Printing & Publishing													1,793		1,766		3.1	%
Media: Broadcasting & Subscription
LCPR Loan Financing LLC	First Lien - Term Loan	10/16/2028		9.20	%	S + 3.86%		5.33	%		500		501		497		0.9	%
Sinclair Television Group, Inc.	First Lien - Term Loan	4/21/2029		9.17	%	S + 3.85%		5.32	%		741		722		521		0.9	%
Total Media: Broadcasting & Subscription													1,223		1,018		1.8	%
Retail
Apro, LLC	First Lien - Term Loan	11/14/2026		9.19	%	S + 3.86%		5.33	%		1,316		1,311		1,317		2.3	%
Great Outdoors Group, LLC	First Lien - Term Loan	3/6/2028		9.18	%	S + 3.86%		5.32	%		973		969		972		1.7	%
Rent-A-Center, Inc.	First Lien - Term Loan	2/17/2028		8.88	%	S + 3.51%		5.37	%		549		549		548		1.0	%
Total Retail													2,829		2,837		5.0	%

10

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Services: Business
Ahead DB Holdings, LLC	First Lien - Term Loan	10/18/2027		9.24	%	S + 3.85%		5.39	%		978		978		972		1.7	%
Artera Services, LLC	First Lien - Term Loan	3/6/2025		8.99	%	S + 3.50%		5.49	%		978		972		919		1.6	%
ASGN Incorporated (fka On Assignment, Inc.)	First Lien - Term Loan	8/30/2030		7.57	%	S + 2.25%		5.32	%		750		748		754		1.4	%
Congruex Group LLC	First Lien - Term Loan	5/3/2029		11.27	%	S + 5.90%		5.37	%		988		967		975		1.7	%
DTI Holdco, Inc.	First Lien - Term Loan	4/26/2029		10.12	%	S + 4.75%		5.37	%		1,119		1,101		1,092		1.9	%
Energize Holdco LLC	First Lien - Term Loan	12/8/2028		9.18	%	S + 3.86%		5.32	%		864		861		855		1.5	%
GTCR W Merger Sub LLC	First Lien - Term Loan	9/20/2030		8.33	%	S + 3.00%		5.33	%		750		746		750		1.3	%
Indy US Bidco, LLC	First Lien - Term Loan	3/6/2028		9.07	%	S + 3.75%		5.32	%		488		486		468		0.8	%
Mermaid Bidco Inc. (Datasite)	First Lien - Term Loan	12/22/2027		9.90	%	S + 4.50%		5.40	%		979		976		980		1.8	%
Phoenix Services International LLC	First Lien - Term Loan	6/30/2028		11.42	%	S + 6.00%		5.42	%		370		370		345		0.6	%
Phoenix Services International LLC	Equity	—		—		—		—			31		311		291		0.5	%
Pitney Bowes Inc.	First Lien - Term Loan	3/17/2028		9.43	%	S + 4.11%		5.32	%		975		968		941		1.7	%
Presidio Holdings Inc.	First Lien - Term Loan	1/22/2027		8.92	%	S + 3.60%		5.32	%		987		987		987		1.8	%
Rockwood Service Corporation	First Lien - Term Loan	1/23/2027		9.43	%	S + 4.11%		5.32	%		249		249		251		0.5	%
Sitel Group	First Lien - Term Loan	8/28/2028		9.18	%	S + 3.86%		5.32	%		1,470		1,465		1,438		2.6	%
Skopima Consilio Parent LLC	First Lien - Term Loan	5/12/2028		9.43	%	S + 4.11%		5.32	%		980		976		956		1.7	%
Tempo Acquisition, LLC	First Lien - Term Loan	8/31/2028		8.07	%	S + 2.75%		5.32	%		980		978		982		1.8	%
UST Global Inc	First Lien - Term Loan	11/20/2028		8.95	%	S + 3.61%		5.33	%		983		979		968		1.7	%
VM Consolidated, Inc.	First Lien - Term Loan	3/24/2028		8.68	%	S + 3.36%		5.32	%		2		2		2		0.0	%
Zelis Cost Management Buyer, Inc.	First Lien - Term Loan	9/30/2026		8.93	%	S + 3.61%		5.32	%		416		414		417		0.7	%
Total Services: Business													15,534		15,343		27.3	%
Services: Consumer
WW International, Inc.	First Lien - Term Loan	4/13/2028		8.93	%	S + 3.61%		5.32	%		945		942		719		1.3	%
Total Services: Consumer													942		719		1.3	%

11

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Telecommunications
CCI Buyer, Inc.	First Lien - Term Loan	12/17/2027		9.39	%	S + 4.00%		5.39	%		975		969		964		1.7	%
Ciena Corporation	First Lien - Term Loan	1/18/2030		7.82	%	S + 2.50%		5.32	%		995		991		999		1.8	%
ConvergeOne Holdings, Corp.	First Lien - Term Loan	1/4/2026		10.37	%	L + 5.00%		5.37	%		1,462		1,448		905		1.6	%
Digi International Inc.	First Lien - Term Loan	11/1/2028		10.43	%	S + 5.00%		5.43	%		666		656		666		1.2	%
Guardian US Holdco LLC	First Lien - Term Loan	1/31/2030		9.39	%	S + 4.00%		5.39	%		296		291		297		0.5	%
Iridium Satellite LLC	First Lien - Term Loan	9/20/2030		7.82	%	S + 2.50%		5.32	%		52		52		52		0.1	%
Mavenir Systems, Inc.	First Lien - Term Loan	8/18/2028		10.39	%	S + 5.01%		5.38	%		1,300		1,291		1,037		1.8	%
Syniverse Holdings, LLC	First Lien - Term Loan	5/13/2027		12.39	%	S + 7.00%		5.39	%		990		959		877		1.6	%
Zayo Group Holdings, Inc.	First Lien - Term Loan	3/9/2027		8.43	%	S + 3.11%		5.32	%		1,000		997		820		1.5	%
Total Telecommunications													7,654		6,617		11.8	%
Transportation: Cargo
Carriage Purchaser, Inc.	First Lien - Term Loan	9/30/2028		9.68	%	S + 4.36%		5.32	%		980		977		962		1.7	%
Clue Opco LLC	First Lien - Term Loan	9/20/2030		9.83	%	S + 4.50%		5.33	%		750		720		734		1.3	%
Daseke Companies, Inc.	First Lien - Term Loan	3/9/2028		9.43	%	S + 4.11%		5.32	%		800		797		794		1.4	%
Echo Global Logistics, Inc.	First Lien - Term Loan	11/23/2028		8.92	%	S + 3.60%		5.32	%		985		984		954		1.7	%
Kenan Advantage Group, Inc., The	First Lien - Term Loan	3/24/2026		9.73	%	S + 4.43%		5.30	%		249		247		250		0.5	%
XPO, Inc.	First Lien - Term Loan	5/24/2028		7.32	%	S + 2.00%		5.32	%		1,000		995		1,005		1.8	%
Total Transportation: Cargo													4,720		4,699		8.4	%
Transportation: Consumer
Avolon TLB Borrower 1 (US) LLC	First Lien - Term Loan	12/1/2027		7.67	%	S + 2.35%		5.32	%		608		592		608		1.1	%
Avolon TLB Borrower 1 (US) LLC	First Lien - Term Loan	6/22/2028		7.82	%	S + 2.50%		5.32	%		309		306		310		0.6	%
Brown Group Holding, LLC	First Lien - Term Loan	7/2/2029		9.17	%	S + 3.75%		5.42	%		995		985		996		1.8	%
First Student Bidco Inc.	First Lien - Term Loan	7/21/2028		8.50	%	S + 3.26%		5.24	%		360		358		351		0.6	%
First Student Bidco Inc.	First Lien - Term Loan	7/21/2028		8.50	%	S + 3.26%		5.24	%		135		134		132		0.2	%
Safe Fleet Holdings LLC	First Lien - Term Loan	2/23/2029		9.17	%	S + 3.85%		5.32	%		633		631		635		1.1	%
United AirLines, Inc.	First Lien - Term Loan	4/21/2028		9.18	%	S + 3.86%		5.32	%		776		773		778		1.4	%
Total Transportation: Consumer													3,779		3,810		6.8	%

12

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (4)
Utilities: Electric
Calpine Construction Finance Company, L.P.	First Lien - Term Loan	7/31/2030		7.57	%	S + 2.25%		5.32	%		250		248		249		0.4	%
PG&E Corporation	First Lien - Term Loan	6/23/2025		8.43	%	S + 3.11%		5.32	%		484		483		485		0.9	%
Total Utilities: Electric													731		734		1.3	%
Total Investments made in the United States													131,065		126,878		225.8	%
Investments made in Canada
Hotel, Gaming & Leisure
Ontario Gaming GTA Limited Partnership	First Lien - Term Loan	8/1/2030		9.64	%	S + 4.25%		5.39	%		173		171		173		0.3	%
Total Hotel, Gaming & Leisure													171		173		0.3	%
Retail
1011778 B.C. Unlimited Liability Company	First Lien - Term Loan	9/23/2030		7.57	%	S + 2.25%		5.32	%		1,000		995		997		1.8	%
Total Retail													995		997		1.8	%
Total Investments made in Canada													1,166		1,170		2.1	%
Investments made in France
Healthcare & Pharmaceuticals
Curium BidCo S.a r.l.	First Lien - Term Loan	7/31/2029		9.89	%	S + 4.50%		5.39	%		249		247		249		0.4	%
Total Healthcare & Pharmaceuticals													247		249		0.4	%
Total Investments made in France													247		249		0.4	%
Investments made in Germany
High Tech Industries
Mosel Bidco SE	First Lien - Term Loan	9/16/2030		10.14	%	S + 4.75%		5.39	%		211		209		211		0.4	%
Total High Tech Industries													209		211		0.4	%
Total Investments made in Germany													209		211		0.4	%
Investments made in Ireland
Aerospace & Defense
Setanta Aircraft Leasing DAC	First Lien - Term Loan	11/5/2028		7.65	%	S + 2.26%		5.39	%		1,500		1,496		1,501		2.7	%
Total Aerospace & Defense													1,496		1,501		2.7	%
Services: Consumer
Cimpress plc	First Lien - Term Loan	5/17/2028		8.93	%	S + 3.61%		5.32	%		978		971		971		1.7	%
Total Services: Consumer													971		971		1.7	%
Transportation: Consumer
Delos Aircraft Designated Activity Company	First Lien - Term Loan	10/31/2027		7.39	%	S + 2.00%		5.39	%		500		500		501		0.9	%
Total Transportation: Consumer													500		501		0.9	%
Total Investments made in Ireland													2,967		2,973		5.3	%
Investments made in Luxembourg
Containers, Packaging & Glass
Mar Bidco S.a r.l.	First Lien - Term Loan	7/7/2028		9.00	%	S + 3.95%		5.05	%		14		14		13		0.0	%
Total Containers, Packaging & Glass													14		13		0.0	%
Telecommunications
Venga Finance S.a r.l.	First Lien - Term Loan	6/28/2029		10.43	%	S + 5.01%		5.42	%		990		965		985		1.8	%
Zacapa S.a r.l.	First Lien - Term Loan	3/22/2029		9.39	%	S + 4.00%		5.39	%		984		982		979		1.7	%
Total Telecommunications													1,947		1,964		3.5	%
Total Investments made in Luxembourg													1,961		1,977		3.5	%

13

Steele Creek Capital Corporation

Consolidated Schedule of Investments

September 30, 2023

(unaudited)

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets  (4)
Investments made in the Netherlands
Chemicals, Plastics, & Rubber
Nouryon Finance B.V.	First Lien - Term Loan	4/3/2028		9.43	%	S + 4.10%		5.33	%		867		855		858		1.5	%
Total Chemicals, Plastics, & Rubber													855		858		1.5	%
Total Investments made in the Netherlands												855		858		1.5	%
Investments made in the United Kingdom
Aerospace & Defense
Bleriot US Bidco Inc.	First Lien - Term Loan	10/31/2028		9.65	%	S + 4.26%		5.39	%		499		496		500		0.9	%
Total Aerospace & Defense													496		500		0.9	%
Banking, Finance, Insurance & Real Estate
HIG Finance 2 Limited	First Lien - Term Loan	11/12/2027		8.69	%	S + 3.25%		5.44	%		1,462		1,463		1,460		2.6	%
Total Banking, Finance, Insurance & Real Estate													1,463		1,460		2.6	%
Chemicals, Plastics, & Rubber
Ineos US Finance LLC	First Lien - Term Loan	2/18/2030		8.92	%	S + 3.60%		5.32	%		204		202		203		0.4	%
Ineos Quattro Holdings UK Limited	First Lien - Term Loan	3/14/2030		9.17	%	S + 3.85%		5.32	%		119		118		118		0.2	%
Total Chemicals, Plastics, & Rubber													320		321		0.6	%
Total Investments made in the United Kingdom													2,279		2,281		4.1	%
Total Non-controlled/Non-Affiliate Investments												$	140,749	$	136,597		243.10	%

(1) All investments are non-controlled/non-affiliated investments as defined by the Investment Company Act of 1940 (the “1940 Act”). The provisions of the 1940 Act classify investments based on the level of control that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when the Company owns 25% or less of the portfolio company’s voting securities and “controlled” when the Company owns more than 25% of the portfolio company’s voting securities. The provisions of the 1940 Act also classify investments further based on the level of ownership that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when the Company owns less than 5% of a portfolio company’s voting securities and “affiliated” when the Company owns 5% or more of a portfolio company’s voting securities.

(2) The majority of the investments bear interest at a rate that may be determined by reference to London Interbank Offered Rate (“LIBOR” or “L”)which reset monthly or quarterly. For each such investment, the Fund has provided the spread over LIBOR and the current contractual interest rate in effect at September 30, 2023. As of September 30, 2023, rates for 1M L, 3M L and 6M L are 5.43%, 5.66% and 5.90%, respectively. Due to uncertainties with LIBOR, investments are starting to transition from LIBOR to Secured Overnight Financing Rate (“SOFR” or “S”). As of September 30, 2023, rates for 1M S, 3M S, 6M S, and 12M S are 5.32%, 5.40%, 5.47%, and 5.47% respectively.

(3) Inputs in the valuation of this investment included certain unobservable inputs that were significant to the valuation as a whole (See Note 4).

( 4) Percentages are based on net assets of $56,200 as of September 30, 2023.

The accompanying notes are an integral part of these consolidated financial statements

14

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Non-controlled/Non-Affiliated Investments -253.30% of Shareholder’s Equity (3)
Investments made in the United States
Aerospace & Defense
Amentum Government Services Holdings LLC	First Lien - Term Loan	2/15/2029		8.76	%	S + 4.00%		4.76	%		862	$	858	$	842		1.7	%
HDT Holdco, Inc.	First Lien - Term Loan	7/8/2027		10.48	%	L + 5.75%		4.73	%		527		514		450		0.9	%
MAG DS Corp.	First Lien - Term Loan	4/1/2027		10.23	%	L + 5.50%		4.73	%		926		892		852		1.7	%
Peraton Corp.	First Lien - Term Loan	2/1/2028		8.13	%	L + 3.75%		4.38	%		965		961		944		1.9	%
Propulsion (BC) Midco SARL	First Lien - Term Loan	9/14/2029		8.58	%	S + 4.00%		4.58	%		1,000		996		975		1.9	%
Spirit Aerosystems, Inc. (fka Mid-Western Aircraft Systems, Inc and Onex Wind Finance LP.)	First Lien - Term Loan	1/15/2027		8.82	%	S + 4.50%		4.32	%		499		484		494		0.9	%
Vertex Aerospace Services Corp.	First Lien - Term Loan	12/6/2028		7.88	%	L + 3.50%		4.38	%		993		988		977		1.9	%
Total Aerospace & Defense													5,693		5,534		10.9	%
Automotive
Autokiniton US Holdings, Inc.	First Lien - Term Loan	4/6/2028		8.79	%	L + 4.50%		4.29	%		1,480		1,472		1,437		2.8	%
First Brands Group, LLC	First Lien - Term Loan	3/30/2027		8.37	%	S + 5.00%		3.37	%		987		987		940		1.9	%
Gates Global LLC	First Lien - Term Loan	11/16/2029		7.82	%	S + 3.50%		4.32	%		499		484		496		1.0	%
Holley Inc.	First Lien - Term Loan	11/17/2028		8.42	%	L + 3.75%		4.67	%		930		931		813		1.6	%
Total Automotive													3,874		3,686		7.3	%

15

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Banking, Finance, Insurance & Real Estate
AssuredPartners, Inc.	First Lien - Term Loan	2/12/2027		7.82	%	S + 3.50%		4.32	%		993		990		966		1.9	%
Asurion, LLC	First Lien - Term Loan	8/21/2028		8.68	%	S + 4.10%		4.58	%		649		642		581		1.1	%
Baldwin Risk Partners, LLC	First Lien - Term Loan	10/14/2027		7.79	%	L + 3.50%		4.29	%		1,096		1,085		1,073		2.1	%
Blackstone Mortgage Trust, Inc.	First Lien - Term Loan	5/9/2029		7.82	%	S + 3.50%		4.32	%		849		837		834		1.7	%
Citadel Securities LP	First Lien - Term Loan	2/2/2028		6.93	%	S + 2.61%		4.32	%		1,241		1,201		1,220		2.4	%
Deerfield Dakota Holding, LLC	First Lien - Term Loan	4/9/2027		8.07	%	S + 3.75%		4.32	%		992		988		929		1.8	%
DRW Holdings, LLC	First Lien - Term Loan	2/24/2028		8.13	%	L + 3.75%		4.38	%		537		535		524		1.0	%
FinCo I LLC	First Lien - Term Loan	6/27/2025		6.88	%	L + 2.50%		4.38	%		368		369		368		0.7	%
Guggenheim Partners Investment Management Holdings, LLC	First Lien - Term Loan	12/12/2029		7.83	%	S + 3.25%		4.58	%		114		112		113		0.2	%
IMA Financial Group, Inc.	First Lien - Term Loan	11/1/2028		7.88	%	L + 3.50%		4.38	%		495		489		480		1.0	%
Jane Street Group, LLC	First Lien - Term Loan	1/26/2028		7.13	%	L + 2.75%		4.38	%		985		977		958		1.9	%
KREF Holdings X LLC	First Lien - Term Loan	9/1/2027		7.81	%	L + 3.50%		4.31	%		495		495		484		1.0	%
LendingTree, Inc.	First Lien - Term Loan	9/15/2028		8.14	%	L + 3.75%		4.39	%		1,493		1,480		1,338		2.7	%
Minotaur Acquisition, Inc.	First Lien - Term Loan	3/27/2026		9.17	%	S + 4.75%		4.42	%		197		189		189		0.5	%
Newport Parent, Inc.	First Lien - Term Loan	12/10/2027		11.23	%	L + 6.50%		4.73	%		827		801		820		1.7	%
Paysafe Group Holdings II Limited	First Lien - Term Loan	6/28/2028		7.13	%	L + 2.75%		4.38	%		990		960		947		1.9	%
Resolute Investment Managers, Inc.	First Lien - Term Loan	4/30/2024		8.98	%	L + 4.25%		4.73	%		701		698		571		1.1	%
Russell Investments US Institutional Holdco, Inc.	First Lien - Term Loan	5/30/2025		7.88	%	L + 3.50%		4.38	%		1,583		1,568		1,526		3.0	%
Ryan Specialty Group, LLC	First Lien - Term Loan	9/1/2027		7.42	%	S + 3.00%		4.42	%		491		493		489		1.0	%
Total Banking, Finance, Insurance & Real Estate													14,909		14,410		28.7	%
Capital Equipment
American Trailer World Corp.	First Lien - Term Loan	3/3/2028		8.17	%	S + 3.85%		4.32	%		679		673		590		1.2	%
DMT Solutions Global Corporation	First Lien - Term Loan	7/2/2024		11.24	%	L + 7.50%		3.74	%		684		685		648		1.4	%
DS Parent, Inc.	First Lien - Term Loan	12/10/2028		9.92	%	L + 5.75%		4.17	%		950		924		908		1.8	%
Energy Acquisition LP	First Lien - Term Loan	6/26/2025		8.63	%	L + 4.25%		4.38	%		1,159		1,147		1,044		2.1	%
Novae LLC	First Lien - Term Loan	12/22/2028		9.95	%	S + 5.25%		4.70	%		1,987		1,931		1,640		3.3	%
Total Capital Equipment													5,360		4,830		9.8	%

16

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Chemicals, Plastics, & Rubber
Albaugh, LLC	First Lien - Term Loan	4/6/2029		7.59	%	S + 3.50%		4.09	%		207		205		205		0.4	%
Bakelite UK Intermediate Ltd.	First Lien - Term Loan	5/29/2029		8.73	%	S + 4.15%		4.58	%		995		990		931		1.8	%
DCG Acquisition Corp.	First Lien - Term Loan	9/30/2026		8.92	%	S + 4.60%		4.32	%		1,228		1,230		1,161		2.3	%
Sparta U.S. Holdco LLC	First Lien - Term Loan	8/2/2028		7.39	%	L + 3.25%		4.14	%		495		493		483		1.0	%
Total Chemicals, Plastics, & Rubber													2,918		2,780		5.5	%
Construction & Building
Janus International Group, LLC	First Lien - Term Loan	2/12/2025		7.98	%	L + 3.25%		4.73	%		885		887		860		1.7	%
Michael Baker International, LLC	First Lien - Term Loan	12/1/2028		9.38	%	L + 5.00%		4.38	%		990		981		960		1.9	%
Smyrna Ready Mix Concrete, LLC	First Lien - Term Loan	4/2/2029		8.67	%	S + 4.35%		4.32	%		1,244		1,209		1,222		2.4	%
Total Construction & Building													3,077		3,042		6.0	%
Consumer Goods: Durable
LHS Borrower, LLC	First Lien - Term Loan	2/16/2029		9.17	%	S + 4.85%		4.32	%		660		654		542		1.1	%
Hunter Douglas Holding B.V.	First Lien - Term Loan	2/26/2029		7.86	%	S + 3.50%		4.36	%		995		991		880		1.7	%
Mannington Mills, Inc.	First Lien - Term Loan	8/6/2026		8.48	%	L + 3.75%		4.73	%		431		431		351		0.7	%
Pelican Products, Inc.	First Lien - Term Loan	12/29/2028		8.42	%	L + 4.25%		4.17	%		990		987		896		1.8	%
Total Consumer Goods: Durable													3,063		2,669		5.3	%
Consumer Goods: Non-Durable
Conair Holdings LLC	First Lien - Term Loan	5/17/2028		8.48	%	L + 3.75%		4.73	%		1,138		1,133		963		1.9	%
Men’s Wearhouse, LLC, The	First Lien - Term Loan	12/1/2025		12.40	%	L + 8.00%		4.40	%		793		789		793		1.6	%
Total Consumer Goods: Non-Durable													1,922		1,756		3.5	%

17

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Containers, Packaging & Glass
Canister International Group Inc.	First Lien - Term Loan	12/21/2026		9.13	%	L + 4.75%		4.38	%		489		487		486		1.0	%
Clydesdale Acquisition Holdings, Inc.	First Lien - Term Loan	4/13/2029		8.60	%	S + 4.18%		4.42	%		1,493		1,458		1,425		2.8	%
Pactiv Evergreen Inc.	First Lien - Term Loan	9/22/2028		7.63	%	L + 3.25%		4.38	%		990		964		978		1.9	%
Plaze, Inc.	First Lien - Term Loan	8/3/2026		8.13	%	L + 3.75%		4.38	%		661		654		593		1.2	%
Sabert Corporation	First Lien - Term Loan	12/10/2026		8.94	%	L + 4.50%		4.44	%		1,038		1,037		1,033		2.0	%
Total Containers, Packaging & Glass													4,600		4,515		8.9	%
Energy: Electricity
Astoria Energy LLC	First Lien - Term Loan	12/10/2027		7.89	%	L + 3.50%		4.39	%		960		956		949		1.8	%
Hamilton Projects Acquiror, LLC	First Lien - Term Loan	6/17/2027		9.23	%	L + 4.50%		4.73	%		877		859		865		1.7	%
Total Energy: Electricity													1,815		1,814		3.5	%
Energy: Oil & Gas
AL NGPL Holdings, LLC	First Lien - Term Loan	4/14/2028		7.53	%	L + 3.75%		3.78	%		683		687		676		1.3	%
CQP Holdco LP	First Lien - Term Loan	6/5/2028		8.48	%	L + 3.75%		4.73	%		1,231		1,227		1,227		2.4	%
Delek US Holdings, Inc.	First Lien - Term Loan	11/19/2029		7.92	%	S + 3.50%		4.42	%		915		879		883		1.8	%
Prairie ECI Acquiror LP	First Lien - Term Loan	3/11/2026		9.13	%	L + 4.75%		4.38	%		500		492		487		1.0	%
Total Energy: Oil & Gas													3,285		3,273		6.5	%
Forest Products & Paper
Schweitzer-Mauduit International, Inc.	First Lien - Term Loan	4/20/2028		8.19	%	L + 3.75%		4.44	%		985		977		931		1.8	%
Total Forest Products & Paper													977		931		1.8	%
Healthcare & Pharmaceuticals
Alvogen Pharma US, Inc.	First Lien - Term Loan	12/31/2023		9.98	%	S + 5.25%		4.73	%		925		925		811		1.6	%
Amneal Pharmaceuticals	First Lien - Term Loan	5/4/2025		7.94	%	L + 3.50%		4.44	%		997		916		897		1.8	%
ANI Pharmaceuticals, Inc.	First Lien - Term Loan	11/19/2027		10.38	%	L + 6.00%		4.38	%		990		979		941		1.9	%
ASP Navigate Acquisition Corp.	First Lien - Term Loan	10/6/2027		9.09	%	L + 4.50%		4.59	%		987		987		964		1.9	%
Athletico Management, LLC	First Lien - Term Loan	2/15/2029		8.98	%	S + 4.40%		4.58	%		249		241		204		0.4	%
Aveanna Healthcare LLC	First Lien - Term Loan	7/17/2028		8.14	%	L + 3.75%		4.39	%		429		428		332		0.7	%
Bayou Intermediate II, LLC	First Lien - Term Loan	8/2/2028		8.96	%	L + 4.50%		4.46	%		990		986		955		1.9	%
Carestream Dental Technology Parent Limited	First Lien - Term Loan	9/2/2024		8.88	%	L + 4.50%		4.38	%		888		875		831		1.6	%

18

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
CCRR Parent, Inc.	First Lien - Term Loan	3/6/2028		8.14	%	L + 3.75%		4.39	%		983		978		937		1.9	%
Confluent Health, LLC	First Lien - Term Loan	11/30/2028		8.38	%	L + 4.00%		4.38	%		783		780		670		1.3	%
Confluent Health, LLC (4)	First Lien - Delayed Draw Loan	11/30/2028		8.38	%	L + 4.00%		4.38	%		170		96		72		0.1	%
FC Compassus, LLC	First Lien - Term Loan	12/31/2026		8.98	%	L + 4.25%		4.73	%		1,227		1,226		1,136		2.3	%
Global Medical Response, Inc.	First Lien - Term Loan	10/2/2025		8.42	%	L + 4.25%		4.17	%		490		484		346		0.7	%
Golden State Buyer, Inc.	First Lien - Term Loan	6/21/2026		8.92	%	L + 4.75%		4.17	%		948		942		906		1.8	%
Help at Home, LLC	First Lien - Delayed Draw Loan	10/29/2027		9.43	%	S + 5.00%		4.43	%		127		125		122		0.2	%
Help at Home, LLC	First Lien - Term Loan	10/29/2027		9.43	%	S + 5.00%		4.43	%		1,006		990		962		1.9	%
Onex TSG Intermediate Corp.	First Lien - Term Loan	2/28/2028		9.16	%	L + 4.75%		4.41	%		985		970		882		1.8	%
PDS Holdco Inc.	First Lien - Delayed Draw Loan	8/18/2028		9.23	%	L + 4.50%		4.73	%		138		138		127		0.3	%
PDS Holdco Inc.	First Lien - Term Loan	8/18/2028		9.23	%	L + 4.50%		4.73	%		1,347		1,342		1,239		2.5	%
Revspring, Inc. (fka Dantom Systems, Inc.)	First Lien - Term Loan	10/11/2025		8.73	%	L + 4.00%		4.73	%		1,006		1,000		974		1.8	%
TTF Holdings, LLC	First Lien - Term Loan	3/31/2028		8.44	%	L + 4.00%		4.44	%		635		631		628		1.1	%
U.S. Anesthesia Partners, Inc.	First Lien - Term Loan	10/2/2028		8.37	%	L + 4.25%		4.12	%		1,100		1,095		1,049		2.1	%
US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.)	First Lien - Term Loan	12/15/2027		9.63	%	L + 5.25%		4.38	%		990		984		896		1.8	%
Zelis Cost Management Buyer, Inc.	First Lien - Term Loan	9/30/2026		7.88	%	L + 3.50%		4.38	%		420		417		416		0.8	%
Zotec Partners, LLC	First Lien - Term Loan	2/14/2024		8.48	%	L + 3.75%		4.73	%		1,001		968		951		1.9	%
Total Healthcare & Pharmaceuticals													19,503		18,248		36.1	%
High Tech Industries
Boxer Parent Company Inc.	First Lien - Term Loan	10/2/2025		8.13	%	L + 3.75%		4.38	%		165		157		158		0.4	%
Casa Systems, Inc.	First Lien - Term Loan	12/20/2023		8.38	%	L + 4.00%		4.38	%		1,479		1,479		1,318		2.6	%
CE Intermediate I, LLC	First Lien - Term Loan	11/10/2028		8.59	%	L + 4.00%		4.59	%		993		984		948		1.9	%
ConnectWise, LLC	First Lien - Term Loan	9/29/2028		7.88	%	L + 3.50%		4.38	%		990		986		943		1.9	%
Ingram Micro Inc.	First Lien - Term Loan	6/30/2028		8.23	%	L + 3.50%		4.73	%		985		977		973		1.9	%
LogMeIn, Inc.	First Lien - Term Loan	8/31/2027		9.14	%	L + 4.75%		4.39	%		980		963		635		1.3	%
Monotype Imaging Holdings Inc.	First Lien - Term Loan	10/9/2026		9.68	%	S + 5.00%		4.68	%		724		721		713		1.4	%
Quest Software US Holdings Inc.	First Lien - Term Loan	2/1/2029		8.49	%	S + 4.40%		4.09	%		1,496		1,483		1,158		2.3	%
Rocket Software, Inc.	First Lien - Term Loan	11/28/2025		8.63	%	L + 4.25%		4.38	%		108		106		104		0.2	%
Rocket Software, Inc.	First Lien - Term Loan	11/28/2025		8.63	%	L + 4.25%		4.38	%		381		378		367		0.7	%
Seattle SpinCo, Inc.	First Lien - Term Loan	2/26/2027		8.42	%	S + 4.10%		4.32	%		1,203		1,193		1,203		2.4	%
VeriFone Systems, Inc.	First Lien - Term Loan	8/20/2025		8.36	%	L + 4.00%		4.36	%		1,384		1,372		1,276		2.5	%
Vision Solutions, Inc. (Precisely Software Incorporated)	First Lien - Term Loan	4/24/2028		8.36	%	L + 4.00%		4.36	%		986		984		820		1.6	%
Watlow Electric Manufacturing Company	First Lien - Term Loan	3/2/2028		8.15	%	S + 3.75%		4.40	%		344		343		332		0.7	%
Total High Tech Industries													12,126		10,948		21.8	%

19

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Hotel, Gaming & Leisure
Arcis Golf LLC	First Lien - Term Loan	11/24/2028		8.63	%	L + 4.25%		4.38	%		993		984		973		1.8	%
ClubCorp Holdings, Inc.	First Lien - Term Loan	9/18/2024		7.48	%	L + 2.75%		4.73	%		497		484		450		0.9	%
Fertitta Entertainment, LLC	First Lien - Term Loan	1/29/2029		8.32	%	S + 4.00%		4.32	%		993		990		945		1.9	%
Herschend Entertainment Company, LLC	First Lien - Term Loan	8/28/2028		8.19	%	L + 3.75%		4.44	%		199		197		197		0.4	%
Sabre GLBL Inc.	First Lien - Term Loan	12/17/2027		7.88	%	L + 3.50%		4.38	%		274		274		251		0.5	%
Sabre GLBL Inc.	First Lien - Term Loan	6/30/2028		9.42	%	S + 5.10%		4.32	%		357		340		331		0.7	%
Sabre GLBL Inc.	First Lien - Term Loan	12/17/2027		7.88	%	L + 3.50%		4.38	%		438		437		400		0.8	%
Scientific Games International, Inc.	First Lien - Term Loan	4/16/2029		7.42	%	S + 3.00%		4.42	%		995		988		984		2.0	%
Total Hotel, Gaming & Leisure													4,694		4,531		9.0	%
Media: Advertising, Printing & Publishing
Oceankey (U.S.) II Corp.	First Lien - Term Loan	12/15/2028		7.88	%	L + 3.50%		4.38	%		993		984		911		1.8	%
Thryv, Inc.	First Lien - Term Loan	3/1/2026		12.88	%	L + 8.50%		4.38	%		1,051		1,047		1,038		2.1	%
Total Media: Advertising, Printing & Publishing													2,031		1,949		3.9	%
Media: Broadcasting & Subscription
LCPR Loan Financing LLC	First Lien - Term Loan	10/16/2028		8.07	%	L + 3.75%		4.32	%		500		501		497		1.0	%
Sinclair Television Group, Inc.	First Lien - Term Loan	4/21/2029		8.17	%	S + 3.85%		4.32	%		746		726		711		1.3	%
Total Media: Broadcasting & Subscription													1,227		1,208		2.3	%

20

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Retail
Apro, LLC	First Lien - Term Loan	11/14/2026		7.92	%	L + 3.75%		4.17	%		1,326		1,319		1,292		2.6	%
EG Group Limited	First Lien - Delayed Draw Loan	3/31/2026		8.98	%	L + 4.25%		4.73	%		988		982		928		1.8	%
Great Outdoors Group, LLC	First Lien - Term Loan	3/6/2028		8.13	%	L + 3.75%		4.38	%		980		976		944		1.9	%
Rent-A-Center, Inc.	First Lien - Term Loan	2/17/2028		7.69	%	L + 3.25%		4.44	%		581		581		562		1.1	%
Total Retail													3,858		3,726		7.4	%
Services: Business
Access CIG, LLC	First Lien - Term Loan	2/27/2025		7.82	%	L + 3.75%		4.07	%		1,352		1,345		1,327		2.6	%
Ahead DB Holdings, LLC	First Lien - Term Loan	10/18/2027		8.48	%	L + 3.75%		4.73	%		985		985		954		1.9	%
Artera Services, LLC	First Lien - Term Loan	3/6/2025		8.23	%	L + 3.50%		4.73	%		985		980		810		1.6	%
Congruex Group LLC	First Lien - Term Loan	5/3/2029		9.99	%	S + 5.75%		4.24	%		995		972		970		1.9	%
DTI Holdco, Inc.	First Lien - Term Loan	4/26/2029		8.84	%	S + 4.75%		4.09	%		1,247		1,224		1,152		2.3	%
Energize Holdco LLC	First Lien - Term Loan	12/8/2028		8.13	%	L + 3.75%		4.38	%		871		867		835		1.7	%
Indy US Bidco, LLC	First Lien - Term Loan	3/6/2028		8.13	%	L + 3.75%		4.38	%		491		489		429		0.9	%
Mermaid Bidco Inc. (Datasite)	First Lien - Term Loan	12/22/2027		7.96	%	L + 3.50%		4.46	%		986		983		939		1.9	%
Misys Limited	First Lien - Term Loan	6/13/2024		6.87	%	L + 3.50%		3.37	%		989		990		877		1.7	%
Phoenix Services International LLC	First Lien - Term Loan (DIP)	3/28/2023		16.32	%	S + 12.00%		4.32	%		149		149		144		0.3	%
Phoenix Services International LLC	First Lien - Term Loan (DIP)	3/28/2023		16.32	%	S + 12.00%		4.32	%		222		222		214		0.4	%
Phoenix Services International LLC (5)	First Lien - Term Loan	3/1/2025		-		-		-			1,246		1,242		135		0.3	%
Pitney Bowes Inc.	First Lien - Term Loan	3/17/2028		8.43	%	S + 4.11%		4.32	%		983		975		908		1.8	%
Presidio Holdings Inc.	First Lien - Term Loan	1/22/2027		7.89	%	L + 3.50%		4.39	%		995		995		981		1.9	%
Sitel Group	First Lien - Term Loan	8/28/2028		8.14	%	L + 3.75%		4.39	%		1,481		1,475		1,466		2.9	%
Skopima Consilio Parent LLC	First Lien - Term Loan	5/12/2028		8.38	%	L + 4.00%		4.38	%		988		982		937		1.9	%
Tempo Acquisition, LLC	First Lien - Term Loan	8/31/2028		7.32	%	S + 3.00%		4.32	%		988		985		986		2.0	%
UST Global Inc	First Lien - Term Loan	11/20/2028		8.14	%	L + 3.75%		4.39	%		990		986		973		1.9	%
VM Consolidated, Inc.	First Lien - Term Loan	3/26/2028		7.63	%	L + 3.25%		4.38	%		2		2		2		0.0	%
Total Services: Business													16,848		15,039		29.9	%
Services: Consumer
WW International, Inc.	First Lien - Term Loan	4/13/2028		7.89	%	L + 3.50%		4.39	%		945		941		546		1.1	%
Total Services: Consumer													941		546		1.1	%

21

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Telecommunications
Avaya Inc.	First Lien - Term Loan	12/15/2027		8.57	%	L + 4.25%		4.32	%		850		841		295		0.6	%
CCI Buyer, Inc.	First Lien - Term Loan	12/17/2027		8.58	%	S + 4.00%		4.58	%		983		975		941		1.9	%
ConvergeOne Holdings, Corp.	First Lien - Term Loan	1/4/2026		9.38	%	L + 5.00%		4.38	%		1,473		1,454		863		1.7	%
Digi International Inc.	First Lien - Term Loan	11/1/2028		9.38	%	L + 5.00%		4.38	%		766		753		760		1.5	%
Mavenir Systems, Inc.	First Lien - Term Loan	8/18/2028		9.42	%	L + 4.75%		4.67	%		1,310		1,299		1,069		2.1	%
Maxar Technologies Inc.	First Lien - Term Loan	6/14/2029		8.67	%	S + 4.35%		4.32	%		995		953		995		2.0	%
Patagonia Holdco LLC	First Lien - Term Loan	8/1/2029		9.96	%	S + 5.75%		4.21	%		499		410		401		0.8	%
Syniverse Holdings, LLC	First Lien - Term Loan	5/13/2027		11.58	%	S + 7.00%		4.58	%		998		962		875		1.7	%
Zayo Group Holdings, Inc.	First Lien - Term Loan	3/9/2027		7.38	%	L + 3.00%		4.38	%		1,000		996		815		1.6	%
Total Telecommunications													8,643		7,014		13.9	%
Transportation: Cargo
Carriage Purchaser, Inc.	First Lien - Term Loan	9/30/2028		8.63	%	L + 4.25%		4.38	%		988		983		920		1.9	%
Daseke Companies, Inc.	First Lien - Term Loan	3/9/2028		8.39	%	L + 4.00%		4.39	%		983		979		953		1.9	%
Echo Global Logistics, Inc.	First Lien - Term Loan	11/24/2028		7.88	%	L + 3.50%		4.38	%		993		990		935		1.9	%
Kenan Advantage Group, Inc.,The	Second Lien - Term Loan	9/1/2027		11.63	%	L + 7.25%		4.38	%		1,000		984		928		1.8	%
Stonepeak Taurus Lower Holdings LLC	Second Lien - Term Loan	1/28/2030		11.68	%	S + 7.00%		4.68	%		1,000		986		935		1.9	%
Total Transportation: Cargo													4,922		4,671		9.4	%
Transportation: Consumer
Avolon TLB Borrower 1 (US) LLC	First Lien - Term Loan	12/1/2027		6.60	%	L + 2.25%		4.35	%		613		595		612		1.2	%
First Student Bidco Inc.	First Lien - Term Loan	7/21/2028		7.73	%	L + 3.00%		4.73	%		362		361		329		0.7	%
First Student Bidco Inc.	First Lien - Term Loan	7/21/2028		7.73	%	L + 3.00%		4.73	%		135		134		122		0.2	%
Lakeland Tours, LLC	Second Lien - Term Loan	9/25/2025		10.41	%	L + 6.00%		4.41	%		748		644		612		1.2	%
Safe Fleet Holdings LLC	First Lien - Term Loan	2/16/2029		8.17	%	S + 3.85%		4.32	%		638		635		618		1.2	%
United AirLines, Inc.	First Lien - Term Loan	4/21/2028		8.11	%	L + 3.75%		4.36	%		983		978		973		1.9	%
Total Transportation: Consumer													3,347		3,266		6.4	%

22

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Utilities: Electric
PG&E Corporation	First Lien - Term Loan	6/23/2025		7.44	%	L + 3.00%		4.44	%		488		486		484		1.0	%
Total Utilities: Electric													486		484		1.0	%
Utilities: Oil & Gas
AL GCX Holdings, LLC	First Lien - Term Loan	5/17/2029		7.57	%	S + 3.90%		3.67	%		90		90		89		0.2	%
Total Utilities: Oil & Gas													90		89		0.2	%
Total Investments made the in United States													130,209		120,959		240.1	%
Investments made in Ireland
Aerospace & Defense
Setanta Aircraft Leasing DAC	First Lien - Term Loan	11/2/2028		6.73	%	L + 2.00%		4.73	%		1,000		998		997		2.0	%
Total Aerospace & Defense													998		997		2.0	%
Services: Consumer
Cimpress plc	First Lien - Term Loan	5/17/2028		7.88	%	L + 3.50%		4.38	%		985		977		889		1.8	%
Total Services: Consumer													977		889		1.8	%
Total Investments made in Ireland													1,975		1,886		3.8	%
Investments made in Luxembourg
Containers, Packaging & Glass
Mar Bidco S.a r.l.	First Lien - Term Loan	7/7/2028		9.03	%	L + 4.30%		4.73	%		14		14		13		0.0	%
Total Containers, Packaging & Glass													14		13		0.0	%
Telecommunications
Venga Finance S.a r.l.	First Lien - Term Loan	6/28/2029		9.48	%	L + 4.75%		4.73	%		998		970		919		1.8	%
Zacapa S.a r.l.	First Lien - Term Loan	3/22/2029		8.83	%	S + 4.25%		4.58	%		1,481		1,477		1,427		2.8	%
Total Telecommunications													2,447		2,346		4.6	%
Total Investments made in Luxembourg												$	2,461	$	2,359		4.6	%

23

Steele Creek Capital Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands, except per share data)

Description (1)	Investment Type	Maturity	Interest Rate (2)			Basis Point Spread Above Index (2)	Interest Rate Floor / Base Rate (2)			Par Amount		Amortized Cost		Fair Value		% of Net Assets (3)
Investments made in the Netherlands
Hotel, Gaming & Leisure
Playa Resorts Holding B.V.	First Lien - Term Loan	1/5/2029		8.58	%	S + 4.25%		4.33	%		1,000		965		977		1.9	%
Total Hotel, Gaming & Leisure													965		977		1.9	%
Total Investments made in the Netherlands												$	965	$	977		1.9	%
Investments made in the United Kingdom
Banking, Finance, Insurance & Real Estate
HIG Finance 2 Limited	First Lien - Term Loan	11/12/2027		7.69	%	L + 3.25%		4.44	%		1,474		1,474		1,438		2.9	%
Total Banking, Finance, Insurance & Real Estate													1,474		1,438		2.9	%
Total Investments made in the United Kingdom												$	1,474	$	1,438		2.9	%
Total Non-controlled/Non-Affiliated Investments												$	137,084	$	127,619		253.3	%

(1) All investments are non-controlled/non-affiliated investments as defined by the Investment Company Act of 1940 (the “1940 Act”). The provisions of the 1940 Act classify investments based on the level of control that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when the Company owns 25% or less of the portfolio company’s voting securities and “controlled” when the Company owns more than 25% of the portfolio company’s voting securities. The provisions of the 1940 Act also classify investments further based on the level of ownership that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when the Company owns less than 5% of a portfolio company’s voting securities and “affiliated” when the Company owns 5% or more of a portfolio company’s voting securities.

(2) The majority of the investments bear interest at a rate that may be determined by reference to London Interbank Offered Rate (“LIBOR” or “L”) which reset monthly or quarterly. For each such investment, the Fund has provided the spread over LIBOR and the current contractual interest rate in effect at December 31, 2022. As of December 31, 2022, rates for 1M L, 3M L, 6M L, and 12M L are 4.39%, 4.77%, 5.14%, and 5.48% respectively. Due to uncertainties with LIBOR, investments are starting to transition from LIBOR to Secured Overnight Financing Rate (“SOFR” or “S”). As of December 31, 2022, rates for 1M S, 3M S, 6M S, and 12M S are 4.36%, 4.59%, 4.78%, and 4.87% respectively.

(3) Percentages are based on net assets of $50,375 thousand as of December 31, 2022.

(4) Of the entire $170 thousand commitment to Confluent Health, LLC, $74 thousand was unfunded as of December 31, 2022.

(5) Investment or a portion of the investment was on non-accrual status as of December 31, 2022.

The accompanying notes are an integral part of these consolidated financial statements

24

Steele Creek Capital Corporation

Notes to the Consolidated Financial Statements

(unaudited)

(in thousands, except share and per share data)

1. ORGANIZATION

Steele Creek Capital Corporation (which is referred to as the “Company”, “we”, “us” and “our”) was originally organized as MSC Capital LLC as a Delaware limited liability company on June 3, 2020. The Company commenced operations as MSC Capital LLC on July 1, 2020. On October 7, 2020, MSC Capital LLC converted to a Maryland corporation. We are a closed-end externally managed, non-diversified management investment company that has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940 (the “1940 Act”). The Company has elected for federal income tax purposes to be treated as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”).

In September 2020, we formed a wholly-owned special purpose financing vehicle, Steele Creek Funding I, LLC (“Funding I”), a Delaware limited liability company.

Steele Creek Investment Management LLC (the “Investment Advisor” or “Administrator”) is our investment adviser and an affiliate of Moelis Asset Management LP (“Moelis Asset”). We entered into an Investment Advisory Agreement with the Investment Advisor who, subject to the supervision of our board of directors (the “Board”), manages the day-to-day operations and provides investment advisory services to the Company. The Company has no paid employees and the Investment Advisor has entered into an agreement (the “Custody Agreement”) to delegate certain administrative and custody functions to US Bank (the “Custodian”).

The Company is a financial services company that primarily invests in syndicated corporate bank loans, bonds, other debt securities, and structured products. The investment objective is to generate high current income by investing primarily in fixed income instruments, including broadly syndicated bank loans, structured products, mezzanine financings and senior secured bonds.

The term “shares” herein refers to membership interest in the Company prior to conversion.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting - The consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its consolidated subsidiaries. The Company is an investment company following accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services-Investment Companies. The consolidated financial statements reflect all adjustments and reclassifications that, in the opinion of management, are necessary for the fair presentation of the results of operations and financial condition as of and for the periods presented. All significant intercompany balances and transactions have been eliminated. Financial statements are prepared in accordance with GAAP for financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. In the opinion of management, all adjustments, consisting solely of normal recurring accruals considered necessary for the fair presentation of financial statements for the period presented, have been included. These unaudited consolidated financial statements should be read in conjunction with the audited financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (“SEC”).

Use of Estimates - The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Investment Advisor to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from such estimates included in the consolidated financial statements.

25

Securities Transactions - Securities transactions are recorded on the trade date. The trade date for loans purchased in the “primary market” and for loans and other investments purchased in the “secondary market” is the date on which the transaction is entered. Cost is determined based on consideration given, adjusted for amortization of original issuance discounts (“OID”), market discounts and premiums.

Investment Income - For debt investments, we record interest income on the accrual basis to the extent that such amounts are expected to be collected. Where applicable, OID and purchased discounts and premiums are accreted into interest income using the effective interest method. Loan origination fees are deferred and accreted into interest income using the effective interest method. We record prepayment premiums on loans and other investments as interest income when such amounts are received. We stop accruing interest on investments when it is determined that interest is no longer collectible. For the three months ended September 30, 2023 there were no loans on non-accrual status. For the nine months ended September 30, 2023, there was one loan in non-accrual status, that was no longer held at quarter end. For the three and nine months ended September 30, 2022, there was one loan in non-accrual status.

Expenses - Expenses include management fees, incentive fees, administrator fees, custody fees, legal fees, audit and tax service expenses, third-party valuation fees and other general and administrative expenses. Expenses are recognized on an accrual basis.

Organizational and Offering Costs - Organizational costs include costs relating to the formation and incorporation of the business and are expensed as incurred. Offering costs include legal fees and other costs pertaining to the registration statement and the private placement memorandum. Offering costs are deferred and amortized over a period of twelve months.

Realized Gain or Loss and Unrealized Gain or Loss - Realized gain or loss from an investment is recorded at the time of disposition and calculated using the weighted average cost method. Unrealized gain or loss reflects the changes in fair value of investments as determined in compliance with the Investment Advisor’s valuation policy.

Cash - The Company maintains its cash in a bank account, which, at times, may exceed federally insured limits. As of September 30, 2023, and December 31, 2022, our cash balance exceeded federally insured limits. The Investment Advisor continuously monitors the performance of the bank where the account is held in order to manage any risk associated with such account.

Earnings Per Share - The Company calculates earnings per share by dividing the net increase or decrease in net assets resulting from operations by the weighted average shares for the period.

Paid-in-capital in Excess of Par Value - The Company records the proceeds from the sale of its shares on a net basis to capital stock and paid-in capital in excess of par value, excluding all offering costs.

Fair Value of Financial Instruments - Assets and liabilities which qualify as financial instruments under relevant authoritative guidance are carried at fair value or contractual amounts approximating fair value.

Investment Classification - As required by the 1940 Act, investments are classified by level of control. “Controlled Investments” are defined as investments in portfolio companies that we are deemed to control, as defined in the 1940 Act. “Affiliated Investments” are investments in those companies that are affiliated companies, as defined in the 1940 Act, other than Controlled Investments. “Non-Controlled/Non-Affiliated Investments” are those that are neither Controlled Investments nor Affiliated Investments. Generally, under the 1940 Act, we are deemed to control a company in which we have invested if we own more than 25% of the voting securities of such company. We are deemed to be an affiliated of a company if we own 5% or more of the voting securities of such company. As of September 30, 2023 and December 31, 2022, all of our investments were Non-Controlled/Non-Affiliated investments.

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Valuation of Investments - We value our investments in accordance with the 1940 Act and ASC Topic 820 – Fair Value Measurement and Disclosures, (“ASC Topic 820”) as determined in good faith by our Board who has delegated such responsibility to our Investment Advisor, along with our Independent valuation firms, and the Audit Committee. ASC Topic 820 defines fair value, establishes a framework used to measure fair value and requires disclosures for fair value measurements. In accordance with ASC Topic 820, the Company has categorized its financial instruments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy. Investments are reflected on the Consolidated Statement of Assets and Liabilities at fair value, with changes in unrealized gains and losses resulting from changes in fair value reflected in the accompanying Consolidated Statement of Operations as “net change in unrealized appreciation on non-controlled/non-affiliated company investments.” Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., the exit price). Publicly-traded investments in active markets are reported at the market closing price. Investment transactions are recorded on a trade date basis (for publicly-traded investments and securities traded through dealer markets) or upon closing of the transaction (for private investments). The cost of an investment includes all costs incurred by the Company as part of the purchase of such investment. The difference between the initially recognized cost and the subsequent fair value measurement of an investment is reflected as “net change in unrealized appreciation on non-controlled/non-affiliated company investments” in the Consolidated Statement of Operations.

We value our investments in accordance with the Investment Advisor’s valuation policy. Valuations are prepared by the Investment Advisor and approved by the CFO of the Company for each accounting close.

Transfers of investments between levels in the fair value hierarchy are recorded at the end of the period. For the three and nine months ended September 30, 2023 there were term loans and equity investments that transferred from level 3 to level 2 at quarter end. The transfer between levels was made due to availability of broker quotes and increased trading volume for the three and nine months ended September 30, 2023. For the three and nine months ended September 30, 2022 there were no transfers between levels.

Income Taxes - For the three and nine months ended September 30, 2023 and September 30, 2022, we have complied with the requirements of Subchapter M of the Code and expect to be treated as a RIC for federal income tax purposes. In this regard, we account for income taxes using the asset and liability method prescribed by ASC Topic 740 – Income Taxes (“ASC Topic 740”). Under this method, income taxes are provided for amounts currently payable and for amounts deferred as tax assets and liabilities based on differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. Based upon our qualification and election to be treated as a RIC for federal income tax purposes, we typically do not incur any material federal income taxes. However, we may choose to retain a portion of our calendar year income, which may result in the imposition of an excise tax.

We recognize the effect of a tax position in our Consolidated Financial Statements in accordance with ASC Topic 740 when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by the applicable tax authority. Tax positions not considered to satisfy the “more-likely-than-not” threshold would be recorded as a tax expense or benefit. Penalties or interest, if applicable, that may be assessed relating to income taxes would be classified as other operating expenses in the financial statements. There were no tax accruals relating to uncertain tax positions and no amounts accrued for any related interest or penalties with respect to the period presented herein. The Company’s determinations regarding ASC Topic 740 may be subject to review and adjustment at a later date based upon factors including, but not limited to, an on-going analysis of tax laws, regulations and interpretations thereof. Although the Company files both federal and state income tax returns, the Company’s major tax jurisdiction is federal.

Because federal income tax regulations differ from GAAP, distributions in accordance with tax regulations may differ from net investment income and net realized gains recognized for financial reporting purposes. Differences between tax regulations and GAAP may be permanent or temporary. Permanent differences are reclassified among capital accounts in the Consolidated Financial Statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized at some time in the future.

The 2020 to 2022 tax years for the Company are not yet closed and remain subject to examination by U.S. Federal, state and local tax authorities.

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Recent Accounting Pronouncements

The Company considers the applicability and impact of all accounting standard updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and either determined to be not applicable or expected to have minimal impact on its consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. ASU 2020-04 and ASU 2021-01 are effective for all entities through December 31, 2022. The expedients and exceptions provided by the amendments do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022, except for hedging transactions as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. In December 2022 the FASB issued Accounting Standards Update 2022-06, Reference Rate Reform (Topic 848) – Deferral of the Sunset Date of Topic 848 which, extended the effective date of Topic 848 from December 31, 2022 to December 31, 2024. The Company is currently evaluating the impact of the adoption of ASU 2020-04 and 2021-01 on its consolidated financial statements.

In March 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326)”, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables -Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The adoption of ASU 2022-02 did not have a material impact on the consolidated financial statements.

3. AGREEMENTS AND RELATED PARTY TRANSACTIONS

Investment Advisory Agreement

Pursuant to the investment advisory agreement between the Company and the Investment Advisor (the “Investment Advisory Agreement”), we have agreed to pay a fee for investment advisory and management services consisting of two components, a base management fee and an incentive fee. The cost of both the base management fee and the incentive fee will ultimately be borne by our stockholders.

Our Investment Advisor has agreed to waive its fees (base management and incentive fee), without recourse against or reimbursement by us, for any quarter where net investment income plus net realized capital gains is not sufficient to maintain a targeted annual distribution payment on shares of common stock outstanding on the relevant payment dates of 6.0% based on our net asset value per share.

On August 11, 2023, the Board approved the renewal of the Investment Advisory Agreement which automatically renews for successive one-year periods each September 17th; provided that such continuance is specifically approved at least annually by the vote of the Board or by the vote of a majority of the outstanding voting securities of the Company and the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Act. 

Base Management Fee

The base management fee is calculated at a maximum annual rate of 1.0% of the average of the weighted average (based on the number of shares outstanding each day in the quarter) of our gross assets (including uninvested cash and cash equivalents) at the end of each of the two most recently completed calendar quarters. The base management fee for any partial quarter is pro-rated based on the number of days actually elapsed in that quarter relative to the total number of days in such quarter. On August 13, 2021, the Board agreed to make investments rather than gross assets the basis for their fee to be more in line with the waivers implemented for management fees. 

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Gross management fees for the three and nine months ended September 30, 2023 were $400 thousand and $1,147 thousand, respectively. Net management fees for the three and nine months ended September 30, 2023 were $332 thousand and $652 thousand, respectively. The Investment Advisor elected to waive a portion of the management fee and charged management fees on investments rather than gross assets.

Gross management fees for the three and nine months ended September 30, 2022 were $385 thousand and $1,231 thousand, respectively. Net management fees for the three and nine months ended September 30, 2022 were $323 thousand and $688 thousand, respectively. The Investment Advisor elected to waive a portion of the management fee and charged management fees on investments rather than gross assets.

Incentive Fee

The Incentive Fee will consist of an income-based component and a capital gains component.

The portion of the incentive fee based on income is determined and paid quarterly in arrears commencing with the first calendar quarter following the Company’s election to be regulated as a BDC, and equals 15% of the pre-incentive fee net investment income in excess of a 1.5% quarterly (or 6% annually) “hurdle rate.” There are no catch-up provisions applicable to income-based incentive fees under the Investment Advisory Agreement.

Pre-incentive fee net investment income means interest income, dividend income and any other income (including any other fees, such as commitment, origination, structuring, diligence, managerial and consulting fees or other fees the Company receives from portfolio companies) that the Company accrues, minus the Company’s operating expenses for the quarter (including the base management fee, expenses payable under the administration agreement (the “Administration Agreement”) we have entered into with the Administrator, and any interest expense and dividends paid on any issued and outstanding indebtedness or preferred stock, respectively, but excluding, for avoidance of doubt, the income-based incentive fee accrued under GAAP). Pre-incentive fee net investment income also includes, in the case of investments with a deferred interest feature (such as OID, debt instruments with PIK interest and zero coupon securities), accrued income that the Company has not yet received in cash. The Investment Advisor is not under any obligation to reimburse the Company for any part of the income-based incentive fees it received that was based on accrued interest that the Company never actually received. Because of the structure of the incentive fee, it is possible that we may pay an incentive fee in a quarter where we incur a loss. For example, if we receive pre-incentive fee net investment income in excess of the Hurdle rate for a quarter, we will pay the applicable incentive fee even if we have incurred a loss in that quarter due to realized and unrealized capital losses.

The portion of the incentive fee based on capital-gains is payable at the end of each calendar year in arrears, equals 15% of cumulative realized capital gains from the date of the Company’s election to be regulated as a BDC to the end of each calendar year, less cumulative net realized capital losses and unrealized capital depreciation. We will accrue, but will not pay, a capital gains incentive fee with respect to unrealized appreciation. Also, it should be noted that while we accrue the capital incentive fee quarterly, the expense will fluctuate with the Company’s overall investment results and the expense will be finalized at year end.

In determining the capital gains incentive fee payable to the Investment Advisor, we calculate the cumulative aggregate realized capital gains and cumulative aggregate realized capital losses since our inception, and the aggregate unrealized capital depreciation as of the date of the calculation, as applicable, with respect to each of the investments in our portfolio. For this purpose, cumulative aggregate realized capital gains, if any, equals the sum of the differences between the net sales price of each investment, when sold, and the original cost of such investment since our inception. Cumulative aggregate realized capital losses equals the sum of the amounts by which the net sales price of each investment, when sold, is less than the original cost of such investment since our inception. Aggregate unrealized capital depreciation equals the sum of the difference, if negative, between the valuation of each investment as of the applicable calculation date and the original cost of such investment. At the end of the applicable year, the amount of capital gains that serves as the basis for our calculation of the capital gains incentive fee equals the cumulative aggregate realized capital gains less cumulative aggregate realized capital losses, less aggregate unrealized capital depreciation, with respect to our portfolio of investments.

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For the three and nine months ended September 30, 2023, the Investment Advisor earned a gross income incentive fee of $85 thousand and $161 thousand, respectively, and did not earn a capital incentive fee.

For the three and nine months ended September 30, 2022, the Company did not earn an incentive fee. For the nine months ended September 30, 2022, the company returned $110 thousand of accrued incentive fees. This reversal was necessary due to the company’s performance in the first quarter of 2022.

Fee Waivers

On February 18, 2021, the Company and the Investment Advisor executed a Waiver Letter (the “Waiver”), whereby the Investment Advisor agrees to waive all or such portion of the Base Management Fee, the Income Incentive Fee and the Capital Incentive Fee (collectively the “Fees”) that they would otherwise be entitled to receive under the Investment Advisory Agreement, dated as of September 16, 2020 (the ‘Agreement”) for any quarter prior to a Liquidity Event to the extent required in order for the Company to earn a quarterly net investment income plus net realized capital gains to maintain an annual distribution payment of shares of common stock outstanding of 6.0%. The Company’s performance will impact the amount and timing of the fee waivers.

For the three and nine months ended September 30, 2023 and September 30, 2022, the Board agreed upon a fee waiver to reduce the basis for the quarterly management fee from gross assets to investments. For the three and nine months ended September 30, 2023 the Investment Advisor waived $68 thousand and $172 thousand, respectively. For the three and nine months ended September 30, 2022 the Company waived $62 thousand and $286 thousand, respectively. This fee waiver will be re-evaluated annually.

The Company’s performance for the three months ended September 30, 2023 produced realized income sufficient to charge a full management fee. Therefore, this waiver was not used for the three months ended September 30, 2023. The Company’s performance for the nine months ended September 30, 2023 did not produce realized income sufficient to charge a full management fee. Therefore, the Company waived an additional $323 thousand of management fees for the nine months ended September 30, 2023.

The Company’s performance for the three months ended September 30, 2022 produced realized income sufficient to charge a full management fee. Therefore, this waiver was not used for the three months ended September 30, 2022. The Company’s performance for the nine months ended September 30, 2022 did not produce realized income sufficient to charge a full management fee. Therefore, the Company waived $257 thousand of management fees for the nine months ended September 30, 2022.

Administration Agreement

The Administration Agreement provides that the Administrator will furnish us with office facilities and equipment and will provide us with clerical, bookkeeping, recordkeeping and other administrative services at such facilities. Under the Administration Agreement, the Administrator will perform, or oversee the performance of, our required administrative services, which will include being responsible for the financial and other records that we are required to maintain and preparing reports to our stockholders and reports and other materials filed with the SEC. In addition, the Administrator will assist us in determining and publishing our net asset value, oversee the preparation and filing of our tax returns and the printing and dissemination of reports and other materials to our stockholders, and generally oversee the payment of our expenses and the performance of administrative and professional services rendered to us by others. Under the Administration Agreement, the Administrator will also provide managerial assistance on our behalf to those portfolio companies that have accepted our offer to provide such assistance.

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Under the Administration Agreement, we will reimburse the Administrator based upon our allocable portion (subject to the review and approval of our Board) of the Administrator’s overhead (including rent) in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and our allocable portion of the cost of our Chief Financial Officer and Chief Compliance Officer, and any of their respective staff who provide services to us, operations staff who provide services to us, and internal audit staff, if any, to the extent internal audit performs a role in our Sarbanes-Oxley internal control assessment. In addition, if requested to provide significant managerial assistance to our portfolio companies, the Administrator will be paid an additional amount based on the services provided, which shall not exceed the amount we receive from such portfolio companies for providing this assistance. The Administration Agreement will have an initial term of two years and thereafter may be renewed annually with the approval of our Board. The Administration Agreement may be terminated by either party without penalty upon 60 days’ written notice to the other party. To the extent that the Administrator outsources any of its functions, we will pay the fees associated with such functions on a direct basis without any incremental profit to the Administrator.

On August 11, 2023, the Board approved the renewal of the Administration Agreement which automatically renews for successive one-year periods each September 17th; provided that such continuance is specifically approved at least annually by the vote of the Board or by the vote of a majority of the outstanding voting securities of the Company and the vote of a majority of the members of the Company’s Board who are not parties to this Agreement or “interested persons” (as such term defined in Section 2(a)(19) of the Investment Company Act) of any such party, in accordance with the Investment Company Act.

Related Party Transactions

As of September 30, 2023, affiliates owned approximately 42% of the Company representing approximately $23,459 thousand of the Company’s net assets. During the year ended December 31, 2022 an affiliate of the Company contributed $250 thousand of cash in exchange for equity in the Company. As of December 31, 2022, affiliates owned approximately 43% of the Company representing approximately $21,458 thousand of the Company’s net assets. 

Separate from the contributions made above, the Company may, from time to time, purchase investments from, or sell investments to affiliates of our Investment Advisor at fair value on the trade date. For the three and nine months ended September 30, 2023 and September 30, 2022 there were no purchases of investments from or sales of investments to affiliates of our Investment Advisor.

For the three and nine months ended September 30, 2023 and September 30, 2022, the Company incurred $20 thousand and $60 thousand in directors’ fees expense, respectively.

The Company carries employment practices liability, directors and officers and errors and omission insurance. For the best interests of the Company, these policies are joint liability policies with Moelis Asset and its affiliates.

4. INVESTMENTS

Fair Value Measurements

We value our investments for each accounting close at fair value in accordance with the 1940 Act and ASC Topic 820, which defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Due to the uncertainty inherent in the valuation process, estimates of fair value may differ significantly from the values that would have been used had a ready market for our investments existed, and the differences could be material. Additionally, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on the investments to be different than the valuations currently assigned.

Investments for which observable market prices in active markets do not exist are reported at fair value, as determined by the Investment Advisor using the best information available. The amount determined to be fair value may incorporate the Investment Advisor’s own assumptions (including assumptions that the Investment Advisor believes market participants would use in valuing the investment, and assumptions relating to appropriate risk adjustments for non-performance and lack of marketability).

The fair values assigned to our investments are based upon available information and do not necessarily represent amounts which might ultimately be realized. Due to the absence of readily determinable fair values and the inherent uncertainty of valuations, the estimated fair values may differ significantly from values that would have been used had a ready market for the securities existed, and the differences could be material.

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The guidance establishes a framework for measuring fair value, and requires enhanced disclosures about fair value measurements. The fair value hierarchy prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily-available actively quoted prices or for which fair value can be measured from actively-quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Investments measured and reported at fair value are classified and disclosed in one of the following categories (from highest to lowest) based on inputs:

Level 1 – Quoted prices (unadjusted) are available in active markets for identical investments that the Company has the ability to access as of the reporting date. The type of investments which would generally be included in Level 1 include listed equity securities and listed derivatives. The Company, to the extent that it holds such investments, does not adjust the quoted price for these investments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. This may include valuations based on executed trades, broker quotations that constitute an executable price, and alternative pricing sources supported by observable inputs which, in each case, are either directly or indirectly observable for the asset in connection with market data at the measurement date.

Level 3 – Pricing inputs are unobservable for the investments and include situations where there is little, if any, market activity for the investments. The inputs into the determination of fair value require significant judgment or estimation by the Investment Advisor. In certain cases, investments classified within Level 3 may include securities for which we have obtained indicative quotes from broker-dealers that do not necessarily represent prices the broker may be willing to trade on.

The valuation techniques used maximize the use of observable inputs and minimize the use of unobservable inputs. Our loans are predominately valued based on evaluated prices from a nationally recognized independent pricing service or from third-party brokers who make markets in such debt investments. When possible, we make inquiries of third-party pricing sources to understand their use of significant inputs and assumptions. We review the third-party fair value estimates and perform procedures to validate their reasonableness, including an analysis of the range and dispersion of third-party estimates, frequency of pricing updates, comparison of recent trade activity for similar securities, and review for consistency with market conditions observed as of the measurement date.

There may be instances when independent or third-party pricing sources are not available, or cases where we believe that the third-party pricing sources do not provide sufficient evidence to support a market participant’s view of the fair value of the debt investment being valued. These instances may result from an investment in a less liquid loan such as a middle market loan, a mezzanine loan or unitranche loan, or a loan to a company that has become financially distressed. In these instances, we may estimate the fair value based on a combination of a market yield valuation methodology and evaluated pricing discussed above, or solely based on a market yield valuation methodology. Under the market yield valuation methodology, we estimate the fair value based on a discounted cash flow technique. For these loans, the unobservable inputs used in the market yield valuation methodology to measure fair value reflect management’s best estimate of assumptions that would be used by market participants when pricing the investment in a hypothetical transaction, including estimated remaining life, current market yield and interest rate spreads of similar loans and securities as of the measurement date. We will estimate the remaining life based on market data for the average life of similar loans. However, if we have information that the loan is expected to be repaid in the near term, we would use an estimated remaining life based on the expected repayment date. The average life to be used to estimate the fair value of our loans may be shorter than the legal maturity of the loans since many loans are prepaid prior to the maturity date. The interest rate spreads used to estimate the fair value of our loans is based on current interest rate spreads of similar loans. If there is a significant deterioration of the credit quality of a loan, we may consider other factors that a hypothetical market participant would use to estimate fair value, including the proceeds that would be received in a liquidation analysis.

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In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgement and considers factors specific to the investment.

The following fair value hierarchy table sets forth our investments by level as of September 30, 2023:

	September 30, 2023
	Total		Level 1		Level 2		Level 3
Term Loans	$	133,529	$	-	$	133,529	$	-
Collateralized Loan Obligations		2,500		-		2,500		-
Delayed Draw Loan		238		-		238		-
Equity		330		-		291		39
Total Investments	$	136,597	$	-	$	136,558	$	39

The following fair value hierarchy table sets forth our investments by level as of December 31, 2022:

	December 31, 2022
	Total		Level 1		Level 2		Level 3
Term Loans	$	126,370	$	-	$	126,370	$	-
Collateralized Loan Obligations		-		-		-		-
Delayed Draw Loan		1,249		-		1,249		-
Equity		-		-		-		-
Total Investments	$	127,619	$	-	$	127,619	$	-

Unobservable inputs used in the fair value measurement of Level 3 investments as of September 30, 2023, included the following:

Fair

Valuation

Unobservable

Range

Weighted

Type

Value

Technique

Input

Minimum

Maximum

Average

Equity

39

Illiquidity Discount

Illiquidity Discount

0

%

100

%

30

%

Total

$

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Certain fair value measurements may employ more than one valuation technique, with each valuation technique receiving a relative weight between 0% and 100%. Generally, a change in an unobservable input may result in a change to the value of an investment as follows:

Input	Impact to value if input increases	Impact to value if input decreases
Illiquidity Discount	Decreases	Increase

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Changes in investments categorized as Level 3 for the three and nine months ended September 30, 2023 were as follows:

	Three months ended September 30, 2023
	Term Loans			Equity			Total Investments
Beginning Balance	$	166		$	311		$	477
Net realized gain (loss)		-			-			-
Net unrealized gain (loss)		-			-			-
Transfers (1)		(166	)		(311	)		(477	)
Acquisitions		-			39			39
Ending Balance	$	-		$	39		$	39

	Nine months ended September 30, 2023
	Term Loans			Equity			Total Investments
Beginning Balance	$	-		$	-		$	-
Net realized gain (loss)		-			-			-
Net unrealized gain (loss)		-			-			-
Transfers (1)		(166	)		(311	)		(477	)
Acquisitions		166			350			516
Ending Balance	$	-		$	39		$	39

(1) Per ASC 820, leveling for each investment is conducted at each quarter end. Transfers between levels are made in accordance with the Company’s accounting policy.

5. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023:

	Three months ended September 30, 2023		Nine months ended September 30, 2023
Numerator - net earnings (loss)	$	3,176	$	7,988
Denominator - weighted average shares		5,738		5,701
Net earnings (loss) per share	$	0.55	$	1.40

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2022:

	Three months ended September 30, 2022			Nine months ended September 30, 2022
Numerator - net earnings (loss)	$	(881	)	$	(7,963	)
Denominator - weighted average shares		5,426			5,131
Net earnings (loss) per share	$	(0.16	)	$	(1.55	)

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6. NET ASSETS

The Company has been actively fundraising since its inception. The table below summarizes the capital the Company has raised (returned) and the shares issued (tendered) to investors during the nine months ended September 30, 2023.

Date Closed	Capital Raised (in thousands)			Shares Issued
Balance at December 31, 2022	$	59,241			5,643,073
January 3, 2023		344			38,579
February 1, 2023		50			5,300
March 1, 2023		221			23,458
Balance at March 31, 2023	$	59,856			5,710,410
April 3, 2023		319			34,712
April 3, 2023		(1,046	)		(113,999	)
May 1, 2023		297			31,900
June 1, 2023		520			57,211
Balance at June 30, 2023	$	59,946			5,720,234
July 3, 2023		105			11,143
July 3, 2023		(149	)		(15,844	)
August 1, 2023		247			25,555
September 1, 2023		171			17,649
Balance at September 30, 2023	$	60,320			5,758,737

The table below summarizes the capital the Company has raised (returned) and the shares issued (tendered) to investors during the nine months ended September 30, 2022.

Date Closed	Capital Raised (in thousands)		Shares Issued
Balance at December 31, 2021	$	45,555		4,311,321
January 7, 2022		4,395		401,369
January 21, 2022		675		61,059
February 4, 2022		725		65,809
February 18, 2022		100		9,299
March 4, 2022		374		34,875
March 18, 2022		839		80,506
Balance at March 31, 2022	$	52,663		4,964,238
April 1, 2022		769		72,225
April 18, 2022		347		32,246
May 6, 2022		724		68,479
May 20, 2022		861		87,990
June 3, 2022		234		23,769
June 17, 2022		247		25,801
Balance at June 30, 2022	$	55,845		5,274,748
July 1, 2022		563		61,107
July 15, 2022		672		73,722
August 5, 2022		54		5,651
August 19, 2022		347		36,028
September 2, 2022		30		3,137
September 16, 2022		360		37,871
Balance at September 30, 2022	$	57,871		5,492,264

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During the three and nine months ended September 30, 2023, the Company issued 54,347 and 245,507 shares with an aggregate value of $523 thousand and $2,274 thousand, respectively. During the three and nine months ended September 30, 2023, 15,844 shares and 129,843 shares with an aggregate value of $149 thousand and $1,195 thousand were tendered and accepted by the Company. During the three and nine months ended September 30, 2022, the Company issued 217,516 and 1,180,943 shares with an aggregate value of $2,026 thousand and $12,316 thousand, respectively.

As of September 30, 2023, and December 31, 2022 the Company had 5,758,737 and 5,643,073 shares of common stock, $0.001 par value per share, outstanding, respectively. 

7. CREDIT FACILITY

On October 13, 2020, Funding I entered into a two-year secured revolving Credit Agreement (the “Credit Agreement”) with BNP Paribas (“BNP”) as lender and administrative agent (the “BNP Credit Facility”) providing a maximum of $45,000 thousand (“Maximum Facility Amount”) to Funding I. During the Credit Facility’s revolving period (earlier of the termination by the borrower or twelve month anniversary of the closing date), it bore interest at London Interbank Offered Rate, or LIBOR, plus 175 basis points. The Company created a wholly owned subsidiary, Funding I, which it will use to hold the Company’s investments, and a first priority continuing security interest in, to and under each investment, all underlying investments and underlying assets has been granted to BNP to be used as collateral for the BNP Credit Facility. The Company began transferring investments into Steele Creek Funding I, LLC in October 2020.

Funding I is required to pay an administrative agent fee equal to $25 thousand per annum and a structuring fee equal to 0.25% of the Maximum Facility Amount paid on the twelve-month anniversary of the closing date. Additionally, an unused fee is payable quarterly in arrears in an amount equal to 0.70% on the actual daily unused amount greater than 20% of the Maximum Facility Amount under the BNP Credit Facility from April 13, 2021 to the end of the revolving period.

On April 29, 2021, Funding I executed an amendment to the BNP Credit Facility. The amendment solidified the LIBOR transition to Secured Overnight Financing Rate (“SOFR”) for the planned discontinuation of LIBOR. The amendment also increased the Individual Lender Maximum Facility Amount from $45,000 thousand to $80,000 thousand.

On October 28, 2021, the Company executed an additional amendment to the Credit Agreement. Material amendments included the revolving period being extended 36 months, from 12 months to 48 months and the interest rate being reduced from LIBOR plus 175 basis points to LIBOR plus 140 basis points. The advance rate was increased from 67.5% to 70% and expanded to include a triple C bucket with a 60% advance rate. The structuring fee was increased from 0.25% of the Maximum Facility Amount to 0.50% of the Maximum Facility Amount and will be paid in three equal installments (December 2021, December 2022, and December 2023). Updates were made to allow for more flexibility to move capital out of the facility subject to certain covenants. Except as described above, all other terms and provisions of the Agreement remain in full force and effect.

On March 22, 2022, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. Material amendments to the Agreement include the interest rate being converted from LIBOR plus 140 basis points to SOFR plus 140 basis points plus 15 basis points. In addition, the Individual Lender Maximum Facility Amount increased from $80,000 thousand to $95,000 thousand and the language and requirements related to the Agreed Upon Procedures provided by independent accountants were amended to be more appropriate for the underlying collateral.

On August 23, 2022, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. This amendment contained certain conforming changes that are not material.

On July 10, 2023, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. This amendment contained certain conforming changes that are not material.

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The revolving period of the BNP Credit Facility ends on October 28, 2025, unless terminated earlier by the Company. The maturity date of the BNP Credit Facility is the earliest to occur of (a) October 28, 2026, and (b) the date on which the BNP gives notice to the Company, the Collateral Manager and the Equityholder following the occurrence of and during the continuation of an Event of Default that the entire Outstanding Principal Amount of Loans shall be due and payable. The stated maturity of October 28, 2026 may not be extended.

As of September 30, 2023 and December 31, 2022, there was $86,312 thousand and $83,150 thousand outstanding, respectively, and $8,688 thousand and $11,850 thousand available, respectively, to be drawn under the BNP Credit Facility. As of September 30, 2023 and December 31, 2022, the BNP Credit Facility had a fair value of $86,312 thousand and $83,150 thousand, respectively and a weighted average interest rate of 6.83% and 3.17%, respectively. The fair value of the BNP Credit Facility approximates fair value because the interest rates adjust to the market interest rates (Level 3 input). As of September 30, 2023 and December 31, 2022, Funding I was in compliance with all covenants of the BNP Credit Facility.

For the three and nine months ended September 30, 2023, we incurred interest and debt financing expense of $1,461 thousand and $4,097 thousand, respectively. The average debt outstanding for the three and nine months ended September 30, 2023 was $82,142 thousand and $81,652 thousand, respectively.

For the three and nine months ended September 30, 2022, we incurred interest and debt financing expense of $826 thousand and $1,670 thousand, respectively. The average debt outstanding for the three and nine months ended September 30, 2022 was $85,870 thousand and $81,643 thousand, respectively. 

8. COMMITMENTS AND CONTINGENCIES

Commitments to extend credit include loan proceeds we are obligated to advance, such as delayed draws. Commitments generally have fixed expiration dates or other termination clauses. Unrealized gains or losses associated with unfunded commitments are recorded in the consolidated financial statements and reflected as an adjustment to the fair value of the related security in the Consolidated Schedule of Investments. The par amount of the unfunded commitments is not recognized by the Company until the commitment becomes funded. As of September 30, 2023, the Company had no unfunded commitments. As of December 31, 2022, the Company had unfunded commitments of $74 thousand.

In the ordinary course of business, we may be a party to certain legal proceedings, including actions brought against us and others with respect to investment transactions. The outcomes of any such legal proceedings are uncertain and, as a result of these proceedings, the values of the investments to which they relate could decrease. We were not subject to any litigation against us as of September 30, 2023. The debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and neither the Members nor any other person or entity shall be obligated personally for any such debt, obligation or liability of the Company.

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9. FINANCIAL HIGHLIGHTS

The following financial highlights are calculated for the shareholders as a whole.

	Nine Months Ended September 30, 2023			Nine Months Ended September 30, 2022			Nine Months Ended September 30, 2021
Per share data:
Net asset value at beginning of period	$	8.93		$	10.90		$	10.76
Net investment income (loss) (1)		0.72			0.43			0.10
Net realized gain (loss) (1)		(0.25	)		0.05			0.58
Net change in unrealized appreciation (depreciation) (1)		0.93			(2.03	)		(0.02	)
Net increase in net assets resulting from operations (1)		1.40			(1.55	)		0.66
Stockholder distributions from income (2)		(0.57	)		(0.47	)		(0.50	)
Other (3)		-			0.03			0.10
Net asset value at end of period	$	9.76		$	8.91		$	11.02
Net assets at end of period	$	56,200		$	48,960		$	44,086
Shares outstanding at end of period		5,758,737			5,492,264			4,001,831
Total return (2)		16.21	%		(14.46	)%		7.18	%
Ratio/Supplemental data:
Ratio of net expenses excluding waivers to average net assets (4)		16.16	%		10.65	%		11.98	%
Ratio of net expenses including waivers to average net assets (4)		15.21	%		9.55	%		10.33	%
Ratio of net investment income to average net assets (4)		10.08	%		5.47	%		1.16	%
Portfolio turnover (5)		107.0	%		83.4	%		480.3	%

(1) The per share data was derived by using the weighted average shares outstanding during the period.

(2) Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share, if any, divided by the beginning NAV per share. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at the quarter end NAV per share preceding the distribution. Return calculations are not annualized.

(3) Includes the impact of different amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.

(4) Ratios are annualized.

(5) Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported. Ratio is not annualized.

10. SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date of issuance of these consolidated financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements other than those disclosed below.

On October 2, 2023, the Company issued and sold 587,724 shares of its common stock to certain investors for an aggregate offering price of $5,736 thousand. The sale of its common stock was made pursuant to subscription agreements between the Company and the investors, and the issuance of the common stock was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

On October 18, 2023, the Company paid approximately $79 thousand for the approximately 8,141 shares tendered and accepted at the close of the September 2023 tender offer.

On November 1, 2023, the Company issued and sold 10,345 shares of its common stock to certain investors for an aggregate offering price of $100 thousand. The sale of its common stock was made pursuant to subscription agreements between the Company and the investors, and the issuance of the common stock was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis should be read in conjunction with our consolidated financial statements and related notes and other financial information appearing elsewhere in this Quarterly Report on Form 10-Q. Except as otherwise specified, references to “we,” “us,” “our,” or the “Company” refer to MSC Capital LLC prior to the Conversion (as defined herein), and Steele Creek Capital Corporation on and after the Conversion.

Forward-Looking Statements

Some of the statements in this report constitute forward-looking statements that involve substantial known and unknown risks, uncertainties and other factors. Undue reliance should not be placed on such statements. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our company, our current and prospective portfolio investments, our industry, our beliefs and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. Our actual results could differ materially and these statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including:

● uncertainties associated with the coronavirus (“COVID-19”) pandemic, including the negative effect that the COVID-19 pandemic is having and is expected to have on the credit markets and the negative effect that the COVID-19 pandemic could have on our business;

● our future operating results;

● our business prospects and the prospects of our portfolio companies;

● the impact of investments that we expect to make;

● changes in political, economic or industry conditions, the interest rate environment or conditions affecting the financial and capital markets;

● the ability of the Steele Creek Investment Management LLC (the “Investment Advisor”) to locate suitable investments for us and to monitor and administer our investments;

● the ability of the Investment Advisor and its affiliates to attract and retain highly talented professionals;

● risk associated with possible disruptions in our operations or the economy generally;

● the timing of cash flows, if any, from the operations of the companies in which we invest;

● the adequacy of our cash resources and working capital;

● the ability of the companies in which we invest to achieve their objectives;

● the dependence of our future success on the general economy and its effect on the industries in which we invest;

● our ability to maintain our qualification as a BDC and as a RIC under the Code;

● the use of borrowed money to finance a portion of our investments;

● the adequacy, availability and pricing of our financing sources and working capital;

● actual or potential conflicts of interest with the Investment Advisor and its affiliates;

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● our contractual arrangements and relationships with third parties;

● our expected financings and investments;

● the economic downturn, interest rate volatility, loss of key personnel, and the illiquid nature of our investments; and

● the risks, uncertainties and other factors we identify under “Item 1A. Risk Factors” and elsewhere in this quarterly report on Form 10-Q.

We have based the forward-looking statements included in this report on information available to us on the date of this report, and we assume no obligation to update any such forward-looking statements. Although we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that we may make directly to you or through reports that we may file with the U.S. Securities and Exchange Commission (“SEC”) in the future, including any annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of the assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In particular, statements herein about the effects of the COVID-19 pandemic on our business, results, financial position, and liquidity may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently estimated. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. These risks and uncertainties include those described or identified in the section entitled “Item 1A. Risk Factors” and elsewhere in this report. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this report. Moreover, we assume no duty and do not undertake to update the forward-looking statements.

Overview

We are a financial services company that primarily invests in syndicated corporate bank loans, bonds, other debt securities, and structured products. We are an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a BDC and has elected to be treated for U.S. federal income tax purposes, and to qualify annually thereafter, as a RIC under the Code. We were formed on June 3, 2020 as a Delaware limited liability company under the name MSC Capital LLC. MSC Capital LLC was formed by Steele Creek Investment Management LLC, Moelis Asset and two affiliates. On October 7, 2020, MSC Capital LLC converted to a Maryland corporation (the “Conversion”), named Steele Creek Capital Corporation. On September 3, 2020, we formed a wholly-owned consolidated special purpose financing vehicle, Steele Creek Capital Funding I, LLC, a Delaware limited liability company.

Our investment objective is to generate high current income by investing primarily in fixed income instruments, including broadly syndicated bank loans, structured products, mezzanine financings and senior secured bonds. We provide moderate liquidity to our shareholders by offering a quarterly share repurchase program. As of September 30, 2023, approximately 130 thousand shares have been tendered through the share repurchase program. Broadly syndicated loans are generally more liquid than directly originated investments and may provide more attractive financing terms than less liquid assets. Mezzanine financings are generally unrated or below investment grade rated investments that have greater credit and liquidity risk than more highly rated debt obligations. Moreover, mezzanine financings are generally unsecured and subordinate to other obligations of the obligor and are subject to many of the same risks as those associated with high-yield debt securities.

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Revenues

We generate revenue primarily in the form of interest and fee income on debt investments we hold and capital gains, if any, on investments. We generally expect our debt investments to bear interest at a floating rate usually determined on the basis of a benchmark such as LIBOR or SOFR. Interest on debt securities is generally payable monthly, quarterly or semi-annually. In some instances, we expect to receive payments on our debt investments based on scheduled amortization of the outstanding balances. In addition, we may receive repayments of some of our debt investments prior to their scheduled maturity date. The frequency or volume of these repayments is expected to fluctuate significantly from period to period. Our portfolio activity is also expected to reflect the proceeds of sales of securities. We may also generate revenue in the form of commitment, origination, amendment, structuring or due diligence fees, fees for providing managerial assistance and consulting fees.

Expenses

Our primary operating expenses include the payment of fees to our Investment Advisor under the Investment Advisory Agreement, our allocable portion of overhead and rental expenses under the Administration Agreement and other operating costs described below. We bear all other out-of-pocket costs and expenses of our operations and transactions, including:

● our initial organization costs incurred prior to the commencement of our operations;

● operating costs incurred prior to the commencement of our operations;

● the cost of calculating our net asset value, including the cost of any third-party valuation services;

● the cost of effecting sales and repurchases of shares of our common stock and other securities, including in connection with the Private Offering;

● distribution and shareholder servicing fees payable to our dealer manager and financial intermediaries;

● fees payable to third parties relating to making investments, including our Investment Advisor’s or its affiliates’ travel expenses, research costs and out-of-pocket fees and expenses associated with performing due diligence and reviews of prospective investments;

● interest expense and other costs associated with our indebtedness;

● transfer agent and custodial fees;

● out-of-pocket fees and expenses associated with marketing efforts;

● federal and state registration fees and any stock exchange listing fees;

● U.S. federal, state and local taxes;

● Independent Directors’ fees and expenses;

● brokerage commissions and markups;

● fidelity bond, directors’ and officers’ liability insurance and other insurance premiums;

● direct costs, such as printing, mailing, long distance telephone and staff;

● fees and expenses associated with independent audits and outside legal costs;

● costs associated with our reporting and compliance obligations under the 1940 Act and other applicable U.S. federal and state securities laws; and

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● other expenses incurred by the Administrator or us in connection with administering our business, including payments under the Administration Agreement that will be based upon our allocable portion (subject to the review and approval of our Board) of overhead, including rental expenses.

From time to time, the Administrator or its affiliates may pay third-party providers of goods or services. We will reimburse the Administrator or such affiliates thereof for any such amounts paid on our behalf under the Administration Agreement. All of the foregoing expenses will ultimately be borne by our stockholders.

Our Investment Advisor is authorized to determine the broker to be used for each portfolio transaction. In selecting brokers to execute transactions, the Investment Advisor need not solicit competitive bids and does not have an obligation to seek the lowest available commission cost. In selecting brokers, the Investment Advisor may or may not negotiate “execution only” commission rates and thus we may be deemed to be paying for other services provided by the broker that are included in the commission rate. In negotiating commission rates, the Investment Advisor will take into account the financial stability and reputation of the broker and the brokerage, research and other services provided to us, the Investment Advisor and other customers of the Investment Advisor and its affiliates by such broker, even though we may not, in any particular instance, be the direct or indirect beneficiaries of the research or other services provided and the management fee payable to the Investment Advisor is not reduced because it receives such services. In addition, the Investment Advisor may direct commissions to certain brokers that on the foregoing basis may furnish other services to us, the Investment Advisor and other customers of the Investment Advisor and its affiliates, such as telephone lines, news and quotation equipment, electronic office equipment, account record keeping and clerical services, trading software, financial publications and economic consulting services. As a result of the brokerage practices described above, the levels of commission paid, and prices paid or received by us in portfolio transactions may be less favorable than in portfolio transactions effected on a best price and execution basis.

Compensation Paid to the Dealer Manager and Participating Financial Intermediaries

The Company has engaged S2K Financial LLC as dealer manager to assist with the placement of the Company’s shares (“Dealer Manager”). Investors will pay a maximum upfront sales load of up to 5.5% of the Company’s net asset value per share for combined upfront selling commissions and dealer manager fees. Investors will pay a maximum upfront selling commission of 3.0% and a maximum dealer manager fee of 2.5%. The purchase price paid by an investor will be the Company’s net asset value per share plus all upfront selling commissions and dealer manager fees. All or a portion of selling commissions and dealer manager fees may be reduced or eliminated in connection with certain categories of sales such as, without limitation, sales through investment advisers or sales to our affiliates.

The Company will pay to the Dealer Manager a shareholder servicing fee (“Shareholder Servicing Fee”) at a maximum annual rate equal to 0.0% of the Company’s net assets up to $28,200 thousand and of 1.0% of the Company’s net assets over $28,200 thousand. The Shareholder Servicing Fee will be payable on a monthly basis. With respect to each share sold, the Shareholder Servicing Fee will be paid until the third anniversary of the applicable month of purchase. All or a portion of which may be reallowed by the Dealer Manager to participating Financial Intermediaries. The purpose of the Shareholder Servicing Fee is to reimburse our Dealer Manager for costs incurred by selected Financial Intermediaries and investment representatives for providing ongoing shareholder services. The Shareholder Servicing Fee is paid pursuant to a Servicing Plan adopted by the Board, including a majority of the Independent Directors and who have no direct or indirect financial interest in the operation of the Servicing Plan or in any agreements entered into in connection therewith. The Servicing Plan will remain in effect for so long as such continuance is reapproved annually by the Board.

The Investment Advisor or its affiliates, in Investment Advisor’s discretion and from their own resources, will pay additional compensation to our Dealer Manager in connection with the sale and servicing of shares (“Additional Compensation”). In return for the Additional Compensation, the Company may receive certain marketing advantages. Our Dealer Manager may reallow all or a portion of the Additional Compensation to participating Financial Intermediaries. The Additional Compensation will not be paid by our shareholders.

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Current Market Conditions

The leveraged loan market saw strong gains in the third quarter due to favorable technical dynamics and improved investor sentiment, that alongside a broader rally in risk assets drove secondary loan prices higher. New issue activity was largely concentrated to refinancings and amend-to-extend transactions as M&A volumes remained muted, resulting in limited supply while demand was robust from improving CLO issuance, positive retail inflows and higher repayment activity. The total return for the quarter was further buoyed by elevated base rates. The Credit Suisse Leveraged Loan Index ended the quarter up 3.37% with an average bid of 94.84, up from 93.55 at the end of Q2. Loan downgrades by the rating agencies continued to outpace upgrades for the quarter, however, the ratio of upgrades to downgrades improved versus the second quarter. Default activity eased slightly in the quarter with the Q3 trailing twelve-month default rate at 2.8%, down from 2.9% at the end of Q2 according to Fitch Ratings.

Portfolio and Investment Activity

As of September 30, 2023, our portfolio had a fair market value of approximately $136,597 thousand, a cost basis of approximately $140,749 thousand and was comprised of leveraged loans, equity, collateralized loan obligations and warrant securities, measured at fair value. Our loan portfolio consisted of 190 investments in 25 industries and in 8 domiciled countries. The following table depicts a summary of the portfolio as of September 30, 2023 (in thousands):

	Investments
Cost	$	140,749
Cumulative Net Unrealized Depreciation		(4,152	)
Fair Value	$	136,597
Yield at Cost		9.58	%

As of December 31, 2022, our portfolio had a fair market value of approximately $127,619 thousand, a cost basis of approximately $137,084 thousand and was comprised of leveraged loans, measured at fair value. Our loan portfolio consisted of 164 investments in 25 industries and in 5 domiciled countries. The following table depicts a summary of the portfolio as of December 31, 2022 (in thousands):

	Investments
Cost	$	137,084
Cumulative Net Unrealized Depreciation		(9,465	)
Fair Value	$	127,619
Yield at Cost		8.65	%

As of September 30, 2023, 100.0% of the term loan investments in the portfolio bore interest at floating rates, with 76.7% of our loan portfolio (at fair value) and 76.6% of our loan portfolio (at cost) having an interest rate floor above 0.0%. Recent interest rate increase announced in the United States have driven the LIBOR and SOFR base rates above the floors in effect as of quarter end. Base rates on 100.0% of the portfolio exceed the stated floors.

As of December 31, 2022, 100.0% of the investments in the portfolio bore interest at floating rates, with 83.9% of our loan portfolio (at fair value) and 83.4% of our loan portfolio (at cost) having an interest rate floor above 0.0%. Recent interest rate increase announced in the United States have driven the LIBOR and SOFR base rates above the floors in effect as of quarter end. Base rates on 100% of the portfolio exceed the stated floors.

The portfolio is actively managed, with a turnover ratio of 107.0% and 83.4% for the nine months ended September 30, 2023 and September 30, 2022, respectively. Our loan portfolio rotation was reflective of the active management style, which seeks to optimize the portfolio based on current market conditions by rotating into positions that have better relative values. The annualized average yield as of September 30, 2023 and September 30, 2022 on the investment was 9.87% and 8.0%, respectively. The following tables depict the portfolio activity (in thousands):

	Three months ended September 30, 2023			Nine months ended September 30, 2023
Fair Value, Beginning	$	129,281		$	127,619
Purchases		56,836			144,118
Sales and Repayments		(51,473	)		(139,561	)
Payment in-kind interest income		4			222
Non-cash income accrual		97			305
Net realized gains (losses)		1			(1,418	)
Net unrealized appreciation (depreciation)		1,851			5,312
Fair Value, Ending	$	136,597		$	136,597

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	Three months ended September 30, 2022			Nine months ended September 30, 2022
Fair Value, Beginning	$	131,581		$	106,997
Purchases		13,693			133,566
Sales and Repayments		(16,196	)		(103,058	)
Non-cash income accrual		43			146
Net realized gains (losses)		91			257
Net unrealized (depreciation) appreciation		(1,710	)		(10,406	)
Fair Value, Ending	$	127,502		$	127,502

	Three months ended September 30, 2023			Nine months ended September 30, 2023
Investments, Beginning		169			164
Purchases (new)		56			129
Complete exit		(35	)		(103	)
Investments, Ending		190			190

	Three months ended September 30, 2022			Nine months ended September 30, 2022
Investments, Beginning		160			130
Purchases (new)		12			92
Complete exit		(14	)		(64	)
Investments, Ending		158			158

The portfolio was diversified across both issuers and industries with the average investment exposure in our portfolio of $719 thousand at fair value, or 0.5% of the total portfolio, as of the nine months ended September 30, 2023. The following table shows the portfolio composition by industry grouping at fair value as a percentage of the total portfolio as of September 30, 2023:

Industry	As of September 30, 2023
Banking, Finance, Insurance & Real Estate		13.3	%
Healthcare & Pharmaceuticals		12.2	%
Services: Business		11.2	%
High Tech Industries		8.2	%
Telecommunications		6.3	%
Aerospace & Defense		5.4	%
Chemicals, Plastics & Rubber		4.5	%
Capital Equipment		3.7	%
Transportation: Cargo		3.4	%
Automotive		3.3	%
Consumer Goods: Durable		3.3	%
Transportation: Consumer		3.2	%
Energy: Oil & Gas		3.1	%
Construction & Building		3.0	%
Hotel, Gaming & Leisure		3.0	%
Retail		2.8	%
Containers, Packaging & Glass		2.2	%
Energy: Electricity		2.0	%
Media: Advertising, Printing & Publishing		1.3	%
Services: Consumer		1.2	%
Consumer Goods: Non-Durable		0.8	%
Media: Broadcasting & Subscription		0.8	%
Forest Products & Paper		0.7	%
Beverages, Food & Tobacco		0.6	%
Utilities: Electric		0.5	%
		100.0	%

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The portfolio was diversified across both issuers and industries with the average investment exposure in our portfolio of $778 thousand at fair value, or 0.6% of the total portfolio, as of December 31, 2022. The following table shows the portfolio composition by industry grouping at fair value as a percentage of the total portfolio as of December 31, 2022:

	As of December 31, 2022
Healthcare & Pharmaceuticals		14.3	%
Banking, Finance, Insurance & Real Estate		12.4	%
Services: Business		11.8	%
High Tech Industries		8.6	%
Telecommunications		7.3	%
Aerospace & Defense		5.1	%
Hotel, Gaming & Leisure		4.3	%
Capital Equipment		3.8	%
Transportation: Cargo		3.7	%
Containers, Packaging & Glass		3.5	%
Retail		2.9	%
Automotive		2.9	%
Energy: Oil & Gas		2.6	%
Transportation: Consumer		2.6	%
Construction & Building		2.4	%
Chemicals, Plastics, & Rubber		2.2	%
Consumer goods: Durable		2.1	%
Media: Advertising, Printing & Publishing		1.5	%
Energy: Electricity		1.4	%
Consumer goods: Non-durable		1.4	%
Services: Consumer		1.1	%
Media: Broadcasting & Subscription		0.9	%
Forest Products & Paper		0.7	%
Utilities: Electric		0.4	%
Utilities: Oil & Gas		0.1	%
		100.0	%

45

Results of Operations

Operating results were as follows (in thousands):

	Three months ended September 30, 2023			Nine months ended September 30, 2023
Investment income:
Interest income	$	3,554		$	10,026
Other income		35			35
Total investment income		3,589			10,061
Expenses:
Management fees		400			1,147
Interest and debt financing expenses		1,461			4,097
Professional fees		95			285
Incentive fees		85			161
Administration expenses		61			176
Directors’ fees		20			60
Custody fees		11			34
Other general and administrative expenses		200			510
Total expenses		2,333			6,470
Less: management fees waived		(68	)		(495	)
Less: incentive fee waived		-			(8	)
Net expenses		2,265			5,967
Net investment income		1,324			4,094
Net realized (loss) gain on investments		1			(1,418	)
Net unrealized appreciation (depreciation) on investments		1,851			5,312
Net realized and unrealized gain (loss) on investments		1,852			3,894
Net increase (decrease) in net assets	$	3,176		$	7,988

	Three months ended September 30, 2022			Nine months ended September 30, 2022
Investment income:
Interest income	$	2,268		$	5,545
Other income		-			-
Total investment income		2,268			5,545
Expenses:
Management fees		385			1,231
Interest and debt financing expenses		826			1,670
Professional fees		97			254
Incentive fees		-			(110	)
Administration expenses		47			150
Directors’ fees		20			60
Custody fees		14			29
Other general and administrative expenses		203			618
Total expenses		1,592			3,902
Less: management fees waived		(62	)		(543	)
Net expenses		1,530			3,359
Net investment income		738			2,186
Net realized gain (loss) on investments		91			257
Net unrealized (depreciation) appreciation on investments		(1,710	)		(10,406	)
Net realized and unrealized (loss) gain on investments		(1,619	)		(10,149	)
Net (decrease) increase in net assets	$	(881	)	$	(7,963	)

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Investment Income

Investment income is recorded on the accrual basis to the extent that such amounts are expected to be collected. Where applicable, OID and purchased discounts and premiums are accreted into interest income using the effective interest method. Loan origination fees are deferred and accreted into interest income using the effective interest method. We record prepayment premiums on loans and other investments as interest income when such amounts are received. Investment income for the three and nine months ended September 30, 2023 was approximately $3,589 thousand and $10,061 thousand, respectively. Investment income for the three and nine months ended September 30, 2022 was approximately $2,268 thousand and $5,545 thousand, respectively.

Total Expenses

Total expenses for the three and nine months ended September 30, 2023 of approximately $2,333 thousand and $6,470 thousand, respectively, include management, incentive, audit and tax preparation fees, interest and debt financing costs, directors’ fees, administration expenses and other general and administrative expenses. Total expenses for the three and nine months ended September 30, 2022 of approximately $1,592 thousand and $3,902 thousand, respectively, include management, incentive, audit and tax preparation fees, organizational costs, offering costs, interest and debt financing costs, directors’ fees, administration expenses and other general and administrative expenses. Expenses are recognized on an accrual basis.

For the three and nine months ended September 30, 2023, the Investment Advisor waived $68 thousand and $495 thousand of management fees, respectively. For the three and nine months ended September 30, 2023, the Investment Advisor waived zero and $8 thousand of income incentive fees, respectively. The actions taken by the Investment Advisor effectively reduced total expenses incurred by the Company for the three and nine months ended September 30, 2023 of approximately $2,333 thousand to approximately $2,265 thousand and approximately $6,470 thousand to approximately $5,967 thousand, respectively.

For the three and nine months ended September 30, 2022, the Investment Advisor waived $62 thousand and $543 thousand of management fees, respectively. The actions taken by Moelis Asset and the Investment Advisor effectively reduced total expenses incurred by the Company for the three and nine months ended September 30, 2022 of approximately $1,592 thousand to approximately $1,530 thousand and approximately $3,902 thousand to approximately $3,359 thousand, respectively.

Net Realized Gain or Loss on Investments

Sales and repayments of investments during the three and nine months ended September 30, 2023 totaled approximately $51,473 thousand and $139,561 thousand, respectively, resulting in net realized gain of approximately $1 thousand and net realized loss of approximately $1,418 thousand, respectively.

Sales and repayments of investments during the three and nine months ended September 30, 2022 totaled approximately $16,196 thousand and $103,058 thousand, respectively, resulting in net realized gains of approximately $91 thousand and $257 thousand, respectively.

Net Unrealized Appreciation or Depreciation on Investments

Unrealized appreciation during the three and nine months ended September 30, 2023 totaled approximately $1,851 thousand and $5,312 thousand, respectively. Unrealized depreciation during the three and nine months ended September 30, 2022 totaled approximately $1,710 thousand and $10,406 thousand, respectively. This activity reflects the changes in fair value of investments as determined in compliance with the Investment Advisor’s valuation policy.  

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Taxes

We elected to be treated, and intend to qualify annually to maintain our election to be treated, as a RIC under Subchapter M of the Code. To maintain our RIC tax election, we must, among other requirements, meet certain annual source-of-income and quarterly asset diversification requirements. We also must annually distribute dividends for U.S. federal income tax purposes to our stockholders out of the assets legally available for distribution of an amount generally at least equal to 90% of the sum of our net ordinary income and realized net short-term capital gains in excess of realized net long-term capital losses, or investment company taxable income, determined without regard to any deduction for dividends paid.

Although not required for us to maintain our RIC tax status, in order to avoid the imposition of a 4% nondeductible federal excise tax imposed on RICs, we must distribute dividends for U.S. federal income tax purposes to our stockholders in respect of each calendar year of an amount at least equal to the Excise Tax Avoidance Requirement.

Because federal income tax regulations differ from GAAP, distributions in accordance with tax regulations may differ from net investment income and net realized gain recognized for financial reporting purposes. Differences between tax regulations and GAAP may be permanent or temporary. Permanent differences are reclassified among capital accounts in the Consolidated Financial Statements to reflect their appropriate tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized at some time in the future.

We have formed and expect to continue to form certain taxable subsidiaries, including the Taxable Subsidiary, which are taxed as corporations. These taxable subsidiaries allow us to hold equity securities of certain portfolio companies treated as pass-through entities for U.S. federal income tax purposes while facilitating our ability to qualify as a RIC under the Code.

Financial Condition, Liquidity and Capital Resources

We generate cash primarily from the net proceeds of any offering of shares of our common stock and from cash flows from interest and fees earned from our investments and principal repayments and proceeds from sales of our investments. We may also fund a portion of our investments through borrowings from banks and issuances of senior securities, including before we have fully invested the proceeds of the Private Offering. Our primary use of cash is investments in portfolio companies, payments of our expenses and payment of cash distributions to our stockholders.

Capital Contributions

For the three and nine months ended September 30, 2023, the Company issued and sold 54,347 and 245,507 shares of Common Stock with a par value of $0.001 per share for an aggregate offering price of $523 thousand and $2,274 thousand, respectively. For the three and nine months ended September 30, 2022, the Company issued and sold 217,516 shares and 1,810,943 shares of Common Stock with a par value of $0.001 per share for an aggregate offering price of $2,026 thousand and $12,316 thousand, respectively. The sale of its common stock was made pursuant to subscription agreements between the Company and the investors, and the issuance of the common stock was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

Our shares of common stock constitute illiquid investments for which there is not, and will likely not be, a secondary market at any time prior to a public offering and listing of our shares on a national securities exchange. There can be no guarantee that we will conduct a public offering and list our shares on a national securities exchange. Investment in the Company is suitable only for sophisticated investors and requires the financial ability and willingness to be exposed to higher liquidity risk than would be the case were the securities publicly listed and actively traded.

We provide moderate liquidity to our shareholders by offering a quarterly share repurchase program. During the three and nine months ended September 30, 2023, 129,843 shares with an aggregate value of $1,195 thousand were tendered and accepted by the Company. During the three and nine months ended September 30, 2022, no shares were tendered.

As of November 13, 2023, the Company issued 6,348,665 shares of Common Stock.

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Borrowings

October 13, 2020, we entered into a two-year secured revolving Credit Agreement (the “Credit Agreement”) with BNP Paribas (“BNP”) as lender and administrative agent (the “BNP Credit Facility”) providing a maximum of $45.0 million (“Maximum Facility Amount”) to Steele Creek Capital Funding I, LLC (“Funding I”). The Company created a wholly owned subsidiary, Funding I, which it will use to hold the Company’s investments, and a first priority continuing security interest in, to and under each investment, all underlying investments and underlying assets has been granted to BNP to be used as collateral for the BNP Credit Facility. During the BNP Credit Facility’s revolving period, it bears interest at LIBOR plus 175 basis points. We believe that our capital resources will provide us with the flexibility to take advantage of market opportunities when they arise. For the three and nine months ended September 30, 2023, we had an average of $82,142 thousand and $81,652 thousand outstanding under the BNP Credit Facility, respectively. For the three and nine months ended September 30, 2022, we had an average of $85,870 thousand and $81,643 thousand outstanding under the BNP Credit Facility, respectively.

Funding I is required to pay an administrative agent fee equal to $25 thousand per annum and a structuring fee equal to 0.25% of the Maximum Facility Amount paid on the twelve month anniversary of the closing date. Additionally, an unused fee is payable quarterly in arrears in an amount equal to 0.70% on the actual daily unused amount greater than 20% of the Maximum Facility Amount under the BNP Credit Facility from April 13, 2021 to the end of the revolving period.

On April 29, 2021, Funding I executed an amendment to the BNP Credit Facility. The amendment solidified the LIBOR transition to Secured Overnight Financing Rate (“SOFR”) for the planned discontinuation of LIBOR. The amendment also increased the Individual Lender Maximum Facility Amount from $45,000 thousand to $80,000 thousand. 

On October 28, 2021, the Company executed an additional amendment to the Credit Agreement. Material amendments included at this time include the revolving period being extended 36 months, from 12 months to 48 months and the interest rate being reduced from LIBOR plus 175 basis points to LIBOR plus 140 basis points. The advance rate was increased from 67.5% to 70% and expanded to include a triple C bucket with a 60% advance rate. The structuring fee was increased from 0.25% of the Maximum Facility Amount to 0.50% of the Maximum Facility Amount and will be paid in three equal installments (December 2021, December 2022, and December 2023). Updates were made to allow for more flexibility to move capital out of the facility subject to certain covenants. Except as described above, all other terms and provisions of the Agreement remain in full force and effect.

On March 22, 2022, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. Material amendments to the Agreement include the interest rate being converted from LIBOR plus 140 basis points to SOFR plus 140 basis points plus 15 basis points. In addition, the Individual Lender Maximum Facility Amount increased from $80,000 thousand to $95,000 thousand and the language and requirements related to the Agreed Upon Procedures provided by independent accountants were amended to be more appropriate for the underlying collateral.

On August 23, 2022, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. This amendment contained certain conforming changes that are not material.

On July 10, 2023, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. This amendment contained certain conforming changes that are not material.

The revolving period of the BNP Credit Facility ends on October 28, 2025, unless terminated earlier by the Company. The maturity date of the BNP Credit Facility is the earliest to occur of (a) October 28, 2026, and (b) the date on which the BNP gives notice to the Company, the Collateral Manager and the Equityholder following the occurrence of and during the continuation of an Event of Default that the entire Outstanding Principal Amount of Loans shall be due and payable. The stated maturity of October 28, 2026 may not be extended.

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Distribution Policy

To the extent that we have income available, we intend to distribute quarterly dividends to our stockholders. Our quarterly dividends, if any, will be determined by our Board. Any dividends to our stockholders will be declared out of assets legally available for distribution.

We intend for the Company to elect to be treated, and intend to qualify annually thereafter, as a RIC under the Code. To obtain and maintain RIC tax treatment, among other things, we must distribute dividends to our stockholders in respect of each taxable year of an amount at least equal to 90% of the sum of our net ordinary income and net short-term capital gains in excess of our net long-term capital losses (“investment company taxable income”), determined without regard to any deduction for dividends paid. In order to avoid certain excise taxes imposed on RICs, we currently intend to distribute dividends to our stockholders in respect of each calendar year of an amount at least equal to the sum of: (1) 98% of our net ordinary income (taking into account certain deferrals and elections) for such calendar year; (2) 98.2% of our capital gains in excess of capital losses (“capital gain net income”), adjusted for certain ordinary losses, generally for the one-year period ending on October 31 of such calendar year; and (3) any net ordinary income and capital gain net income for preceding years that were not distributed during such years and on which we previously paid no U.S. federal income tax.

We currently intend to distribute net capital gains (i.e., net long-term capital gains in excess of net short-term capital losses), if any, at least annually out of the assets legally available for such distributions. However, we may decide in the future to retain such capital gains for investment, incur a corporate-level tax on such capital gains, and elect to treat such capital gains as deemed distributions to you. If this happens, you will be treated for U.S. federal income tax purposes as if you had received an actual distribution of the capital gains that we retain and reinvested the net after tax proceeds in us. In this situation, you would be eligible to claim a tax credit equal to your allocable share of the tax we paid on the capital gains deemed distributed to you. We cannot assure you that we will achieve results that will permit us to pay any cash distributions, and if we issue senior securities, we will be prohibited from making distributions if doing so would cause us to fail to maintain the asset coverage ratios stipulated by the 1940 Act or if such distributions are limited by the terms of any of our borrowings.

Asset Coverage

In accordance with the 1940 Act, the Company has historically only been allowed to borrow amounts such that its “asset coverage,” as defined in the 1940 Act, is at least 200% after such borrowing, permitting the Company to borrow up to one dollar for investment purposes for every one dollar of investor equity. “Asset coverage” generally refers to a company’s total assets, less all liabilities and indebtedness not represented by “senior securities,” as defined in the 1940 Act, divided by total senior securities representing indebtedness and, if applicable, preferred stock. “Senior securities” for this purpose includes borrowings from banks or other lenders, debt securities and preferred stock.

On March 23, 2018, the SBCAA was signed into law. The SBCAA, among other things, modifies the applicable provisions of the 1940 Act to reduce the required asset coverage ratio applicable to BDCs from 200% to 150% subject to certain approval, time and disclosure requirements (including either stockholder approval or approval of a majority of the directors who are not interested persons of the BDC and who have no financial interest in the proposal). On October 5, 2020, the Board and the Members of MSC Capital LLC voted to approve the adoption of the reduced asset coverage ratio.

As of September 30, 2023 and December 31, 2022, the Company had total senior securities of $86,312 thousand and $83,150 thousand, respectively, consisting of borrowings under the Credit Facility, and had asset coverage ratios of 165.1% and 160.6%, respectively. For a discussion of certain risks associated with the reduction of the required minimum asset coverage ratio applicable to the Company, see “Risk Factors — Risks Related to Our Business and Structure — The SBCAA allows us to incur additional leverage, which may increase the risk of investing with us.”

50

Critical Accounting Policies

Valuation Procedures

Under procedures established by our Board and in accordance with the 1940 Act, we value investments for which market quotations are readily available at such market quotations. Assets listed on an exchange will be valued at their last sales prices as reported to the consolidated quotation service at 4:00 P.M. eastern time on the date of determination. If no such sales of such securities occurred, such securities will be valued at the mean between the last available bid and ask prices as reported by an independent, third party pricing service on the date of determination. Debt and equity securities that are not publicly traded or whose market prices are not readily available will be valued at fair value, subject at all times to the oversight and approval of our Board. Such determination of fair values may involve subjective judgments and estimates, although we will also engage independent valuation providers to review the valuation of each portfolio investment that constitutes a material portion of our portfolio and that does not have a readily available market quotation at least once annually. With respect to unquoted securities, our Investment Advisor, together with our independent valuation advisors, and subject at all times to the oversight and approval of our Board, will value each investment considering, among other measures, discounted cash flow models, comparisons of financial ratios of peer companies that are public and other factors. We intend to retain one or more independent providers of financial advisory services to assist the Investment Advisor and the Board by performing certain limited third-party valuation services. We may appoint additional or different third-party valuation firms in the future.

When an external event such as a purchase transaction, public offering or subsequent equity sale occurs with respect to a fair-valued portfolio company or comparable company, our Board will use the pricing indicated by the external event to corroborate and/or assist us in our valuation. Because we expect that there will not be a readily available market for many of the investments in our portfolio, we expect to value many of our portfolio investments at fair value as determined in good faith by our Board using a documented valuation policy and a consistently applied valuation process. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of our investments may differ significantly from the values that would have been used had readily available market quotations existed for such investments, and the differences could be material.

ASC Topic 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC Topic 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level of information used in the valuation. In accordance with ASC Topic 820, these inputs are summarized in the three levels listed below.

Level 1 – Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.

Level 2 – Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable.

Level 3 – Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuations techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and it considers factors specific to the investment.

With respect to investments for which market quotations are not readily available, our Investment Advisor will undertake a multi-step valuation process each quarter, as described below: 

● Investments for which no such market prices are available or reliable will be preliminarily valued at such value as the Investment Advisor may reasonably determine, which may include third party valuations;

51

● At least once annually, the valuation for each portfolio investment that constitutes a material portion of our portfolio and that does not have a readily available market quotation will be reviewed by an independent valuation firm; and

● Our Investment Advisor will then discuss valuations and determine the fair value of each investment in our portfolio in good faith, based on the input of the respective independent valuation firms.

Investment Transactions, Realized/Unrealized Gains or Losses, and Income Recognition

Investment transactions are recorded on a trade date basis (for publicly-traded investments and securities traded through dealer markets) or upon closing of the transaction (for private investments). The cost of an investment includes all costs incurred by the Company as part of the purchase of such investment. The difference between the initially recognized cost and the subsequent fair value measurement of an investment is reflected as “net change in unrealized appreciation on non-controlled/non-affiliate company investments” on the Consolidated Statements of Operations.

Realized gain or loss from an investment is recorded at the time of disposition and calculated using the weighted average cost method. Unrealized gain or loss reflects the changes in fair value of investments as determined in compliance with the Investment Advisor’s valuation policy.

Interest income, adjusted for amortization of market premium and accretion of market discount, is recorded on an accrual basis to the extent that we expect to collect such amounts. Interest income on debt instruments is accrued and recognized for those issuers who are currently paying in full or expected to pay in full. For those issuers who are in default or expected to default, interest is not accrued and is only recognized when received. Interest income and expense include discounts accreted and premiums amortized on certain debt instruments as determined in good faith by the Adviser and calculated using the effective interest method. Loan origination fees, original issue discounts and market discounts or premiums are capitalized as part of the underlying cost of the investments and accreted or amortized over the life of the investment as interest income.

Management and Incentive Fees

The base management fee and the income-based incentive fees are expensed each quarter and payable in arrears. Additionally, we accrue a capital gains-based incentive fee quarterly that is paid annually in arrears. The accrual for the capital incentive fee includes the recognition of incentive fee on unrealized capital gains, even though such incentive fee is neither earned nor payable to the Adviser until the gains are both realized and in excess of unrealized depreciation on investments. The amount of capital gains incentive fee expense related to the hypothetical liquidation of the portfolio (and assuming no other changes in realized or unrealized gains and losses) would only become payable to the Adviser in the event of a complete liquidation of the Company’s portfolio as of period end and the termination of the Advisory Agreement on such date. Also, it should be noted that while we accrue the capital incentive fee quarterly, the expense will fluctuate with the Company’s overall investment results and the expense will be finalized at year end.

Expenses

For the three and nine months ended September 30, 2023, the Company incurred expenses of approximately $2,333 thousand and $6,470 thousand, respectively. For the three and nine months ended September 30, 2022, the Company incurred expenses of approximately $1,592 thousand and $3,902 thousand, respectively. These expenses are primarily related to management fees, incentive fees, interest and debt financing expenses, organization expenses, professional fees, directors’ fees, offering costs and administration and custodian fees. Expenses are recognized on an accrual basis.

Federal Income Taxes

We have elected to be treated, and to qualify annually, as a RIC under Subchapter M of the Code. Generally, a RIC is not subject to federal income taxes on distributed income and gains if it distributes at least 90% of its net ordinary income and net short-term capital gains in excess of its net long-term capital losses, if any, to its stockholders. We intend to distribute sufficient dividends to maintain our RIC status each year and we do not anticipate paying any material federal income taxes in the future.

52

Investment Income

For debt investments, we record interest income on the accrual basis to the extent that such amounts are expected to be collected. OID and purchased discounts and premiums are accreted/amortized into interest income using the effective interest method, where applicable. Loan origination fees are deferred and accreted into interest income using the effective interest method. We record prepayment premiums on loans and other investments as interest income when such amounts are received. We stop accruing interest on investments when it is determined that interest is no longer collectible. As of September 30, 2023 and September 30, 2022 we had zero and one loan on non-accrual status, respectively.

Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation

We measure realized gains or losses by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees and prepayment penalties. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized.

Realized gains and losses from securities transactions and unrealized appreciation and depreciation of securities are determined using the identified cost basis method for financial reporting.

Contractual Obligations

Commitments to extend credit include loan proceeds we are obligated to advance, such as delayed draws. Commitments generally have fixed expiration dates or other termination clauses. The par amount of the unfunded commitments is not recognized by the Company until the commitment becomes funded. As of September 30, 2023 and December 31, 2022, the Company had unfunded commitments of zero and $74 thousand, respectively.

Off-Balance Sheet Arrangements

Other than contractual commitments and other legal contingencies incurred in the normal course of our business, we do not expect to have any off-balance sheet financings or liabilities. These instruments include commitments to extend credit and fund equity capital and involve, to varying degrees, elements of liquidity and credit risk in excess of the amount recognized in the balance sheet. As of September 30, 2023 and December 31, 2022, we had a total of zero and $74 thousand, respectfully in outstanding commitments comprised of investments with commitments to fund revolving loans that had not been fully drawn or term loans with additional commitments not yet funded. 

Related Party Transactions

As of September 30, 2023, affiliates owned approximately 42% of the Company representing approximately $23,459 thousand of the Company’s net assets. During the year ended December 31, 2022 an affiliate of the Company contributed $250 thousand of cash in exchange for equity in the Company. As of December 31, 2022, affiliates owned approximately 43% of the Company representing approximately $21,458 thousand of the Company’s net assets.

Separate from the contributions made above, the Company may, from time to time, purchase investments from, or sell investments to affiliates of our Investment Advisor at fair value on the trade date. For the three and nine months ended September 30, 2023 and September 30, 2022, there were no purchases of investments from or sales of investments to affiliates of our Investment Advisor.

For the three and nine months ended September 30, 2023 and September 30, 2022, the Company incurred $20 thousand and $60 thousand in directors’ fees expense, respectively.

The Company carries employment practices liability, directors and officers and errors and omission insurance. For the best interests of the Company, these policies are joint liability policies with Moelis Asset and its affiliates.

53

Organizational and Offering Expenses

For the three and nine months ended September 30, 2023 and September 30, 2022 the Company did not incur organizational or offering expenses. Organizational costs are expensed as incurred and offering cost are amortized over a 12 month period.

Investment Advisory Agreement

We have entered into the Investment Advisory Agreement with the Investment Advisor, an affiliate of Moelis Asset, which was approved by our Board and our sole stockholder for an initial two-year term, under which the Investment Advisor, subject to the overall supervision of our Board manages the day-to-day operations of and provides investment advisory services to us. Subsequent to that two-year term, the Board will approve the Investment Advisory Agreement of Investment Advisor for renewal annually.

On August 11, 2023, the Board approved the renewal of the Investment Advisory Agreement which automatically renews for successive one-year periods each September 17^th; provided that such continuance is specifically approved at least annually by the vote of the Board or by the vote of a majority of the outstanding voting securities of the Company and the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Act.

Our Investment Advisor has agreed to waive its fees (base management and incentive fee), without recourse against or reimbursement by us, for any quarter where net investment income plus net realized capital gains is not sufficient to maintain a targeted annual distribution payment on shares of common stock outstanding on the relevant payment dates of 6.0% based on our net asset value per share.

The base management fee is calculated at a maximum annual rate of 1.0% of the average of the weighted average (based on the number of shares outstanding each day in the quarter) of our gross assets (including uninvested cash and cash equivalents) at the end of each of the two most recently completed calendar quarters. On August 13, 2021, the Board agreed to make investments rather than gross assets the basis for their fee to be more in line with the waivers implemented for management fees. Net management fees for the three and nine months ended September 30, 2023 and were $332 and $652 thousand, respectively. The Company elected to waive a portion of the management fee and charged management fees on investments rather than gross assets. The Investment Advisor has agreed to a 6.0% priority dividend to shareholders before receiving a fee for the services it provides to the Company. 

Administration Agreement

We have entered into the Administration Agreement with the Administrator, an affiliate of Moelis Asset, which was approved by our Board and our sole stockholder for an initial two-year term, under which the Administrator, subject to the overall supervision of our Board manages the day-to-day operations of, and provides office space, office services and equipment and other administration services to us. Subsequent to that two-year term, the Board will approve the Administration Agreement of Administrator for renewal annually.

On August 11, 2023, the Board approved the renewal of the Administration Agreement which automatically renews for successive one-year periods each September 17th; provided that such continuance is specifically approved at least annually by the vote of the Board or by the vote of a majority of the outstanding voting securities of the Company and the vote of a majority of the members of the Company’s Board who are not parties to this Agreement or “interested persons” (as such term defined in Section 2(a)(19) of the Investment Company Act) of any such party, in accordance with the Investment Company Act.

54

Recent Developments

Management has evaluated subsequent events through the date of issuance of these consolidated financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements other than those disclosed below.

On October 2, 2023, the Company issued and sold 587,724 shares of its common stock to certain investors for an aggregate offering price of $5,736 thousand. The sale of its common stock was made pursuant to subscription agreements between the Company and the investors, and the issuance of the common stock was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

On October 18, 2023, the Company paid approximately $79 thousand for the approximately 8,141 shares tendered and accepted at the close of the September 2023 tender offer.

On November 1, 2023, the Company issued and sold 10,345 shares of its common stock to certain investors for an aggregate offering price of $100 thousand. The sale of its common stock was made pursuant to subscription agreements between the Company and the investors, and the issuance of the common stock was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

We are subject to financial market risks, including changes in interest rates. Interest rate sensitivity refers to the change in our earnings that may result from changes in the level of interest rates. Because we expect to fund a portion of our investments with borrowings, our net investment income is expected to be affected by the difference between the rate at which we invest and the rate at which we borrow. As a result, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income.

As of September 30, 2023, 100.0% of our loan portfolio bore interest at floating rates with 76.7% (at fair value) having an interest rate floor between 0.50% and 1.00%. The floating rate loans are usually based on a LIBOR (or an alternative risk-free floating interest rate index) rate and typically have durations ranging from one to six months, after which they reset to current market interest rates. Floating rate investments subject to a floor generally reset to the current market index after one to nine months if the index exceeds the floor. For positions with an interest rate floor, we do not benefit from increases in interest rates until such rates exceed the floor and thereafter benefit from market rates above any such floor. Recent interest rate increases announced in the United States have driven the LIBOR and SOFR rates above the floors in effect as of quarter end. Base rates on 100% of the portfolio exceeds the stated floors.

Assuming that the consolidated statement of assets and liabilities as of September 30, 2023 was to remain constant and that we took no actions to alter our existing interest rate sensitivity, the following table shows the annualized impact of hypothetical base rate changes in interest rates:

	As of September 30, 2023
Basis Point Changes	Interest Income			Interest Expense			Net Income
Up 300 basis points	$	4,262		$	(2,464	)	$	1,798
Up 200 basis points		2,841			(1,643	)		1,198
Up 100 basis points		1,421			(821	)		600
Down 100 basis points		(1,419	)		821			(598	)
Down 200 basis points		(2,838	)		1,643			(1,195	)
Down 300 basis points		(4,257	)		2,464			(1,793	)

Although management believes that this measure is indicative of our sensitivity to interest rates, it does not reflect any potential impact to the fair value of our investments as a result of changes to interest rates, nor does it adjust for potential changes in the credit market, credit quality, size and composition of the assets in our consolidated statement of assets and liabilities and other business developments that could affect the net increase/(decrease) in net assets resulting from operations or net investment income. Accordingly, no assurances can be given that actual results would not differ materially from those shown above.

55

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

As of September 30, 2023, we, including our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Based on that evaluation, our management, including the Chief Executive Officer and Chief Financial Officer, concluded that our disclosure controls and procedures were effective and provided reasonable assurance that information required to be disclosed in our periodic SEC filings is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. However, in evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of such possible controls and procedures.

Changes in Internal Control over Financial Reporting

There have been no changes in our “internal control over financial reporting” (as defined in Rule 13a 15(f) of the Exchange Act) that occurred during our quarter ended September 30, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 

56

PART II—OTHER INFORMATION

Item 1. Legal Proceedings.

We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us. From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under loans to or other contracts with our portfolio companies.

Item 1A. Risk Factors.

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Annual Report on Form 10-K”), which could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report on Form 10-K are not the only risks we face. Additional risks and uncertainties that are not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results. Other than the risk factors below, during the nine months ended September 30, 2023, there have been no material changes from the risk factors set forth in our Annual Report on Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Default Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

During the fiscal quarter ended September 30, 2023, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any non-Rule 10b5-1 trading arrangement. 

57

Item 6. Exhibits, Financial Statement Schedules

Exhibit Index
3.1	Form of Articles of Incorporation (Incorporated by reference to Exhibit 3.1 to Registrant’s Amendment No. 1 to Registration Statement on Form 10 (File No. 000-56189) filed on November 9, 2020).
3.2	Bylaws (Incorporated by reference to Exhibit 3.2 to Registrant’s Amendment No. 1 to Registration Statement on Form 10 (File No. 000-56189) filed on November 9, 2020).
31.1*	Certification of Chief Executive Officer pursuant to Securities Exchange Act Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*	Certification of Chief Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*	Inline XBRL Instance Document
101.SCH*	Inline XBRL Taxonomy Extension Schema Document
101.CAL*	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*	Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit 101)

* Filed herewith

58

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Steele Creek Capital Corporation
Date: November 13, 2023	/s/ Glenn Duffy
	Name:	Glenn Duffy
	Title:	Chief Executive Officer, Chief Investment Officer, and President (Principal Executive Officer)
Date: November 13, 2023	/s/ Douglas Applegate Jr.
	Name:	Douglas Applegate Jr.
	Title:	Chief Financial Officer (Principal Financial and Accounting Officer)

59

EX-31.1

Exhibit 31.1

Certification of Chief Executive Officer

I, Glenn Duffy, Chief Executive Officer of Steele Creek Capital Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Steele Creek Capital Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated this 13th day of November 2023.

By:	/s/ Glenn Duffy
	Glenn Duffy
	Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification of Chief Financial Officer

I, Douglas Applegate Jr., Chief Financial Officer of Steele Creek Capital Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Steele Creek Capital Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated this 13th day of November 2023.

By:	/s/ Douglas Applegate Jr.
	Douglas Applegate Jr.
	Chief Financial Officer

XML

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 13, 2023
Document Information [Line Items]
Entity Registrant Name	STEELE CREEK CAPITAL CORPORATION
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		6,348,665
Amendment Flag	false
Entity Central Index Key	0001817825
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Securities Act File Number	814-01351
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	85-1327288
Entity Address, Address Line One	210 S. College Street
Entity Address, Address Line Two	Suite 1690
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28244
City Area Code	(704)
Local Phone Number	343-6011
Title of 12(g) Security	Common Stock, par value $0.001 per share
Entity Interactive Data Current	Yes

XML

Consolidated Statements of Assets and Liabilities - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investments:
Non-controlled/non-affiliated company investments, at fair value (amortized cost of $140,749 and $137,084, respectively)	$ 136,597	$ 127,619
Cash	5,002	4,693
Receivable for investments sold	24,082	18,277
Prepaid expenses and other assets	236	218
Interest receivable	812	363
Total assets	166,729	151,170
Liabilities
Credit facility	86,312	83,150
Payable for investments purchased	22,152	15,253
Management fees payable	332	319
Interest payable	33	28
Incentive fees payable	85	24
Accounts payable and accrued expenses	499	664
Distributions payable	1,116	1,357
Total liabilities	110,529	100,795
Commitments and contingencies (Note 8)
Net Assets:
Common shares, $0.001 par value, 5,758,737 shares authorized, 5,758,737 and 5,643,073 shares issued and outstanding, respectively	6	6
Paid-in-capital in excess of par value	62,646	60,372
Total distributable (deficit)	(6,452)	(10,003)
Total net assets	56,200	50,375
Total liabilities and net assets	$ 166,729	$ 151,170
Net asset value per share (in Dollars per share)	$ 9.76	$ 8.93

XML

Consolidated Statements of Assets and Liabilities (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Amortized cost of investments (in Dollars)	$ 140,749	$ 137,084
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	5,758,737	5,758,737
Common stock, shares issued	5,758,737	5,643,073
Common stock, shares outstanding	5,758,737	5,643,073

XML

Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Non-controlled/non-affiliated company investments:
Interest income	$ 3,554	$ 2,268	$ 10,026	$ 5,545
Other income	35		35
Total investment income	3,589	2,268	10,061	5,545
Expenses:
Management fees	400	385	1,147	1,231
Interest and debt financing expenses	1,461	826	4,097	1,670
Professional fees	95	97	285	254
Incentive fees	85		161	(110)
Administration expenses	61	47	176	150
Directors’ fees	20	20	60	60
Custody fees	11	14	34	29
Other general and administrative expenses	200	203	510	618
Total expenses	2,333	1,592	6,470	3,902
Less: management fees waived	(68)	(62)	(495)	(543)
Less: incentive fees waived			(8)
Net expenses	2,265	1,530	5,967	3,359
Net investment income	1,324	738	4,094	2,186
Realized and unrealized (loss) gain on investments:
Net realized (loss) gain on non-controlled/non-affiliated company investments	1	91	(1,418)	257
Net change in unrealized (depreciation) appreciation on non-controlled/non-affiliated company investments	1,851	(1,710)	5,312	(10,406)
Total net realized and unrealized (loss) gain on investments	1,852	(1,619)	3,894	(10,149)
Net (decrease) increase in net assets resulting from operations	$ 3,176	$ (881)	$ 7,988	$ (7,963)
Per share data:
Net investment income per share - basic (in Dollars per share)	$ 0.23	$ 0.14	$ 0.72	$ 0.43
Net (decrease) increase in net assets resulting from operations per share - basic (in Dollars per share)	$ 0.55	$ (0.16)	$ 1.4	$ (1.55)
Weighted average shares outstanding - basic (in Shares)	5,738	5,426	5,701	5,131

XML

Consolidated Statement of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net investment income per share - diluted	$ 0.23	$ 0.14	$ 0.72	$ 0.43
Net (decrease) increase in net assets resulting from operations per share - diluted	$ 0.55	$ (0.16)	$ 1.40	$ (1.55)
Weighted average shares outstanding - diluted (in Shares)	5,738	5,426	5,701	5,131

XML

Consolidated Statements of Changes in Net Assets (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operations
Net investment income	$ 1,324	$ 738	$ 4,094	$ 2,186
Net realized (loss) gain on investments	1	91	(1,418)	257
Net change in unrealized appreciation (depreciation) on investments	1,851	(1,710)	5,312	(10,406)
Net increase (decrease) in net assets resulting from operations	3,176	(881)	7,988	(7,963)
Distributions to Stockholders
Distributions of realized income	(1,116)	(772)	(3,242)	(2,386)
Capital Share Transactions
Issuance of common shares	523	2,026	2,274	12,316
Repurchase of common shares	(149)		(1,195)
Total Capital Share Transactions	374	2,026	1,079	12,316
Net Assets
Net increase (decrease) in net assets during the period	2,434	373	5,825	1,967
Net assets at beginning of period	53,766	48,587	50,375	46,993
Net assets at end of period	$ 56,200	$ 48,960	$ 56,200	$ 48,960
Capital Share Activity
Issuance of common shares (in Shares)	39	217	116	1,181
Shares issued and outstanding at beginning of period (in Shares)	5,720	5,275	5,643	4,311
Shares issued and outstanding at end of period (in Shares)	5,759	5,492	5,759	5,492

XML

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$ 7,988	$ (7,963)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments	(144,118)	(133,566)
Proceeds from sales of investments and paydowns	139,561	103,058
Payment in-kind interest income	(222)
Amortization of premium/accretion of discount, net	(305)	(146)
Net realized loss (gain) on investments	1,418	(257)
Net change in unrealized (appreciation) depreciation on investments	(5,312)	10,406
Changes in operating assets and liabilities:
Receivable for investments sold	(5,805)	59,288
Prepaid expenses and other assets	(18)	(14)
Interest receivable	(449)	1
Payable for investments purchased	6,899	(48,792)
Management fees payable	13	55
Interest payable	5	1
Incentive fees payable	61	(309)
Accounts payable and accrued expenses	(165)	229
Directors’ fees payable		(17)
Net cash provided by (used in) operating activities	(449)	(18,026)
Cash flows from financing activities:
Proceeds from issuance of common shares	2,274	12,316
Repurchase of common shares	(1,195)
Proceeds from issuance of debt	9,262	19,800
Repayments on debt	(6,100)	(5,530)
Stockholder distributions paid	(3,483)	(2,721)
Net cash (used in) provided by financing activities	758	23,865
Net increase in Cash	309	5,839
Cash, beginning of period	4,693	8,449
Cash, end of period	5,002	14,288
Operating Activities:
Interest paid	$ 4,091	$ 1,669

XML

Consolidated Schedule of Investments (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Transportation: Consumer [Member] | Investments made in the United States [Member] | Brown Group Holding, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 985
Par Amount (in Dollars)	[1]	$ 995
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 996
Interest Rate	[1],[3]	9.17%
Maturity	[1]	Jul. 02, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	3.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Consumer Goods: Non-Durable [Member]
Amortized Cost (in Dollars)	[1]	$ 1,125
% of Net Assets	[1],[2]	1.90%
Fair Value (in Dollars)	[1]	$ 1,085
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Containers, Packaging & Glass [Member]
Amortized Cost (in Dollars)	[1]	$ 2,967
% of Net Assets	[1],[2]	5.30%
Fair Value (in Dollars)	[1]	$ 2,984
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Energy: Electricity [Member]
Amortized Cost (in Dollars)	[1]	$ 2,701
% of Net Assets	[1],[2]	4.90%
Fair Value (in Dollars)	[1]	$ 2,742
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Energy: Oil & Gas [Member]
Amortized Cost (in Dollars)	[1]	$ 4,192
% of Net Assets	[1],[2]	7.50%
Fair Value (in Dollars)	[1]	$ 4,236
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Forest Products & Paper [Member]
Amortized Cost (in Dollars)	[1]	$ 971
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 968
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Healthcare & Pharmaceuticals [Member]
Amortized Cost (in Dollars)	[1]	$ 17,219
% of Net Assets	[1],[2]	29.20%
Fair Value (in Dollars)	[1]	$ 16,397
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total High Tech Industries [Member]
Amortized Cost (in Dollars)	[1]	$ 12,022
% of Net Assets	[1],[2]	19.60%
Fair Value (in Dollars)	[1]	$ 11,039
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Hotel, Gaming & Leisure [Member]
Amortized Cost (in Dollars)	[1]	$ 3,969
% of Net Assets	[1],[2]	6.90%
Fair Value (in Dollars)	[1]	$ 3,872
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Media: Advertising, Printing & Publishing [Member]
Amortized Cost (in Dollars)	[1]	$ 1,793
% of Net Assets	[1],[2]	3.10%
Fair Value (in Dollars)	[1]	$ 1,766
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Media: Broadcasting & Subscription [Member]
Amortized Cost (in Dollars)	[1]	$ 1,223
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 1,018
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Retail [Member]
Amortized Cost (in Dollars)	[1]	$ 2,829
% of Net Assets	[1],[2]	5.00%
Fair Value (in Dollars)	[1]	$ 2,837
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Services: Business [Member]
Amortized Cost (in Dollars)	[1]	$ 15,534
% of Net Assets	[1],[2]	27.30%
Fair Value (in Dollars)	[1]	$ 15,343
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Services: Consumer [Member]
Amortized Cost (in Dollars)	[1]	$ 942
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 719
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Telecommunications [Member]
Amortized Cost (in Dollars)	[1]	$ 7,654
% of Net Assets	[1],[2]	11.80%
Fair Value (in Dollars)	[1]	$ 6,617
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Transportation: Cargo [Member]
Amortized Cost (in Dollars)	[1]	$ 4,720
% of Net Assets	[1],[2]	8.40%
Fair Value (in Dollars)	[1]	$ 4,699
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Transportation: Consumer [Member]
Amortized Cost (in Dollars)	[1]	$ 3,779
% of Net Assets	[1],[2]	6.80%
Fair Value (in Dollars)	[1]	$ 3,810
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Utilities: Electric [Member]
Amortized Cost (in Dollars)	[1]	$ 731
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 734
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United States [Member] | Total Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 131,065
% of Net Assets	[1],[2]	225.80%
Fair Value (in Dollars)	[1]	$ 126,878
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in Canada [Member] | Total Hotel, Gaming & Leisure [Member]
Amortized Cost (in Dollars)	[1]	$ 171
% of Net Assets	[1],[2]	0.30%
Fair Value (in Dollars)	[1]	$ 173
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in Canada [Member] | Total Retail [Member]
Amortized Cost (in Dollars)	[1]	$ 995
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 997
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in Canada [Member] | Total Investments made in Canada [Member]
Amortized Cost (in Dollars)	[1]	$ 1,166
% of Net Assets	[1],[2]	2.10%
Fair Value (in Dollars)	[1]	$ 1,170
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in France [Member] | Total Healthcare & Pharmaceuticals [Member]
Amortized Cost (in Dollars)	[1]	$ 247
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 249
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in France [Member] | Total Investments made in France [Member]
Amortized Cost (in Dollars)	[1]	$ 247
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 249
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in Germany [Member] | Total High Tech Industries [Member]
Amortized Cost (in Dollars)	[1]	$ 209
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 211
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in Germany [Member] | Total Investments made in Germany [Member]
Amortized Cost (in Dollars)	[1]	$ 209
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 211
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in Ireland [Member] | Total Investments made in Ireland [Member]
Amortized Cost (in Dollars)	[1]	$ 2,967
% of Net Assets	[1],[2]	5.30%
Fair Value (in Dollars)	[1]	$ 2,973
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the Netherlands [Member] | Nouryon Finance B.V. [Member]
Amortized Cost (in Dollars)	[1]	855
Par Amount (in Dollars)	[1]	$ 867
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 858
Interest Rate	[1],[3]	9.43%
Maturity	[1]	Apr. 03, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	4.10%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the Netherlands [Member] | Total Chemicals, Plastics, & Rubber [Member]
Amortized Cost (in Dollars)	[1]	$ 855
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 858
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the Netherlands [Member] | Total Investments made in the Netherlands [Member]
Amortized Cost (in Dollars)	[1]	$ 855
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 858
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United Kingdom [Member]
Amortized Cost (in Dollars)	[1]	$ 2,279
% of Net Assets	[1],[2]	4.10%
Fair Value (in Dollars)	[1]	$ 2,281
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Investments made in the United Kingdom [Member] | Total Aerospace & Defense [Member]
Amortized Cost (in Dollars)	[1]	$ 496
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 500
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Non-controlled/Non-Affiliate Investments [Member]
Amortized Cost (in Dollars)	[1]	$ 140,749
% of Net Assets	[1],[2]	243.10%
Fair Value (in Dollars)	[1]	$ 136,597
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace Sector [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Amentum Government Services Holdings LLC [Member]
Amortized Cost (in Dollars)	[1]	852
Par Amount (in Dollars)	[1]	$ 855
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 846
Interest Rate	[1],[3]	9.33%
Maturity	[1]	Feb. 15, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 5,652
% of Net Assets	[1],[2]	9.70%
Fair Value (in Dollars)	[1]	$ 5,406
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | Investments made in Ireland [Member]
Amortized Cost (in Dollars)	[1]	$ 1,496
% of Net Assets	[1],[2]	2.70%
Fair Value (in Dollars)	[1]	$ 1,501
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | HDT Holdco, Inc. [Member]
Amortized Cost (in Dollars)	[1]	498
Par Amount (in Dollars)	[1]	$ 509
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 249
Interest Rate	[1],[3]	11.40%
Maturity	[1]	Jul. 08, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	6.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LSF11 Trinity Bidco, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 491
Par Amount (in Dollars)	[1]	$ 499
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 499
Interest Rate	[1],[3]	9.83%
Maturity	[1]	Jun. 14, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	4.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | MAG DS Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 889
Par Amount (in Dollars)	[1]	$ 918
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 878
Interest Rate	[1],[3]	10.99%
Maturity	[1]	Apr. 01, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.49%
Basis Point Spread Above Index	[1],[3]	5.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Peraton Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 951
Par Amount (in Dollars)	[1]	$ 954
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 954
Interest Rate	[1],[3]	9.17%
Maturity	[1]	Feb. 01, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Propulsion (BC) Midco SARL [Member]
Amortized Cost (in Dollars)	[1]	$ 989
Par Amount (in Dollars)	[1]	$ 993
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 993
Interest Rate	[1],[3]	9.14%
Maturity	[1]	Sep. 14, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	3.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Vertex Aerospace Services Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 982
Par Amount (in Dollars)	[1]	$ 985
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 987
Interest Rate	[1],[3]	8.92%
Maturity	[1]	Dec. 06, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in Ireland [Member] | Setanta Aircraft Leasing DAC [Member]
Amortized Cost (in Dollars)	[1]	$ 1,496
Par Amount (in Dollars)	[1]	$ 1,500
% of Net Assets	[1],[2]	2.70%
Fair Value (in Dollars)	[1]	$ 1,501
Interest Rate	[1],[3]	7.65%
Maturity	[1]	Nov. 05, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	2.26%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United Kingdom [Member] | Bleriot US Bidco Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 496
Par Amount (in Dollars)	[1]	$ 499
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 500
Interest Rate	[1],[3]	9.65%
Maturity	[1]	Oct. 31, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.26%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Automotive [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 4,547
% of Net Assets	[1],[2]	8.00%
Fair Value (in Dollars)	[1]	$ 4,525
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Autokiniton US Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[1]	965
Par Amount (in Dollars)	[1]	$ 970
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 953
Interest Rate	[1],[3]	9.93%
Maturity	[1]	Apr. 06, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | First Brands Group, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 239
Par Amount (in Dollars)	[1]	$ 248
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 245
Interest Rate	[1],[3]	10.88%
Maturity	[1]	Mar. 30, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.45%
Basis Point Spread Above Index	[1],[3]	5.43%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | First Brands Group, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 980
Par Amount (in Dollars)	[1]	$ 980
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 969
Interest Rate	[1],[3]	10.88%
Maturity	[1]	Mar. 30, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.88%
Basis Point Spread Above Index	[1],[3]	5.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Holley Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 907
Par Amount (in Dollars)	[1]	$ 906
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 877
Interest Rate	[1],[3]	9.40%
Maturity	[1]	Nov. 17, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.65%
Basis Point Spread Above Index	[1],[3]	3.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Phinia Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 481
Par Amount (in Dollars)	[1]	$ 500
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 501
Interest Rate	[1],[3]	9.49%
Maturity	[1]	Jul. 03, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.10%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | RealTruck Group, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 975
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 980
Interest Rate	[1],[3]	10.46%
Maturity	[1]	Jan. 31, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.35%
Basis Point Spread Above Index	[1],[3]	5.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 16,983
% of Net Assets	[1],[2]	29.80%
Fair Value (in Dollars)	[1]	$ 16,780
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | Investments made in the United Kingdom [Member]
Amortized Cost (in Dollars)	[1]	$ 1,463
% of Net Assets	[1],[2]	2.60%
Fair Value (in Dollars)	[1]	$ 1,460
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | AmWINS Group, Inc [Member]
Amortized Cost (in Dollars)	[1]	492
Par Amount (in Dollars)	[1]	$ 496
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 497
Interest Rate	[1],[3]	8.18%
Maturity	[1]	Feb. 19, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | AssuredPartners, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 984
Par Amount (in Dollars)	[1]	$ 985
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 984
Interest Rate	[1],[3]	8.82%
Maturity	[1]	Feb. 12, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Baldwin Risk Partners, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 743
Par Amount (in Dollars)	[1]	$ 748
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 743
Interest Rate	[1],[3]	8.92%
Maturity	[1]	Oct. 14, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Blackstone Mortgage Trust, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 832
Par Amount (in Dollars)	[1]	$ 842
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 829
Interest Rate	[1],[3]	8.82%
Maturity	[1]	May 09, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Citadel Securities LP [Member]
Amortized Cost (in Dollars)	[1]	$ 1,441
Par Amount (in Dollars)	[1]	$ 1,451
% of Net Assets	[1],[2]	2.60%
Fair Value (in Dollars)	[1]	$ 1,450
Interest Rate	[1],[3]	7.93%
Maturity	[1]	Jul. 29, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Cushman & Wakefield U.S. Borrower, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 490
Par Amount (in Dollars)	[1]	$ 499
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 492
Interest Rate	[1],[3]	8.67%
Maturity	[1]	Jan. 31, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.35%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DRW Holdings, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 529
Par Amount (in Dollars)	[1]	$ 531
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 531
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Mar. 01, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | FinCo I LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 744
Par Amount (in Dollars)	[1]	$ 748
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 749
Interest Rate	[1],[3]	8.37%
Maturity	[1]	Jun. 27, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	3.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Greystar Real Estate Partners, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 520
Par Amount (in Dollars)	[1]	$ 528
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 528
Interest Rate	[1],[3]	9.15%
Maturity	[1]	Aug. 21, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.40%
Basis Point Spread Above Index	[1],[3]	3.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Guggenheim Partners Investment Management Holdings, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 111
Par Amount (in Dollars)	[1]	$ 113
% of Net Assets	[1],[2]	0.20%
Fair Value (in Dollars)	[1]	$ 113
Interest Rate	[1],[3]	8.64%
Maturity	[1]	Dec. 12, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	3.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Jane Street Group, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 971
Par Amount (in Dollars)	[1]	$ 977
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 976
Interest Rate	[1],[3]	8.18%
Maturity	[1]	Jan. 26, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | KREF Holdings X LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 491
Par Amount (in Dollars)	[1]	$ 491
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 484
Interest Rate	[1],[3]	8.94%
Maturity	[1]	Sep. 01, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LendingTree, Inc.[Member]
Amortized Cost (in Dollars)	[1]	$ 1,484
Par Amount (in Dollars)	[1]	$ 1,485
% of Net Assets	[1],[2]	2.20%
Fair Value (in Dollars)	[1]	$ 1,243
Interest Rate	[1],[3]	9.20%
Maturity	[1]	Sep. 15, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Newport Parent, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 788
Par Amount (in Dollars)	[1]	$ 811
% of Net Assets	[1],[2]	1.40%
Fair Value (in Dollars)	[1]	$ 814
Interest Rate	[1],[3]	11.93%
Maturity	[1]	Dec. 10, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.43%
Basis Point Spread Above Index	[1],[3]	6.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Osaic Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 463
Par Amount (in Dollars)	[1]	$ 468
% of Net Assets	[1],[2]	0.80%
Fair Value (in Dollars)	[1]	$ 468
Interest Rate	[1],[3]	9.82%
Maturity	[1]	Aug. 17, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Paysafe Group Holdings II Limited [Member]
Amortized Cost (in Dollars)	[1]	$ 956
Par Amount (in Dollars)	[1]	$ 982
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 966
Interest Rate	[1],[3]	8.18%
Maturity	[1]	Jun. 28, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Resolute Investment Managers, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 456
Par Amount (in Dollars)	[1]	$ 693
% of Net Assets	[1],[2]	0.80%
Fair Value (in Dollars)	[1]	$ 437
Interest Rate	[1],[3]	9.79%
Maturity	[1]	Apr. 30, 2024
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.40%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Russell Investments US Institutional Holdco, Inc.[Member]
Amortized Cost (in Dollars)	[1]	$ 1,548
Par Amount (in Dollars)	[1]	$ 1,558
% of Net Assets	[1],[2]	2.60%
Fair Value (in Dollars)	[1]	$ 1,488
Interest Rate	[1],[3]	8.92%
Maturity	[1]	May 30, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Ryan Specialty Group, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 489
Par Amount (in Dollars)	[1]	$ 487
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 488
Interest Rate	[1],[3]	8.42%
Maturity	[1]	Sep. 01, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.10%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United Kingdom [Member] | HIG Finance 2 Limited [Member]
Amortized Cost (in Dollars)	[1]	$ 1,463
Par Amount (in Dollars)	[1]	$ 1,462
% of Net Assets	[1],[2]	2.60%
Fair Value (in Dollars)	[1]	$ 1,460
Interest Rate	[1],[3]	8.69%
Maturity	[1]	Nov. 12, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.44%
Basis Point Spread Above Index	[1],[3]	3.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | Collateralized Loan Obligations [Member] | Investments made in the United States [Member] | OFSBS 2022-11A [Member]
Amortized Cost (in Dollars)	[1]	$ 1,000
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 1,000
Interest Rate	[1],[3]	8.89%
Maturity	[1]	Oct. 18, 2035
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | Collateralized Loan Obligations [Member] | Investments made in the United States [Member] | OFSI BSL CLO XII, Ltd [Member]
Amortized Cost (in Dollars)	[1]	$ 983
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 1,005
Interest Rate	[1],[3]	13.95%
Maturity	[1]	Jan. 20, 2035
Interest Rate Floor / Base Rate	[1],[3]	5.10%
Basis Point Spread Above Index	[1],[3]	8.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | Collateralized Loan Obligations [Member] | Investments made in the United States [Member] | Sound Point CLO [Member]
Amortized Cost (in Dollars)	[1]	$ 468
Par Amount (in Dollars)	[1]	$ 500
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 495
Interest Rate	[1],[3]	14.23%
Maturity	[1]	Jul. 26, 2036
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	8.81%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Beverage, Food & Tobacco [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 744
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 748
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Beverage, Food & Tobacco [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Flynn Restaurant Group LP [Member]
Amortized Cost (in Dollars)	[1]	744
Par Amount (in Dollars)	[1]	$ 750
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 748
Interest Rate	[1],[3]	9.68%
Maturity	[1]	Dec. 01, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.36%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Capital Equipment [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 5,103
% of Net Assets	[1],[2]	9.00%
Fair Value (in Dollars)	[1]	$ 5,019
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | American Trailer World Corp.[Member]
Amortized Cost (in Dollars)	[1]	674
Par Amount (in Dollars)	[1]	$ 679
% of Net Assets	[1],[2]	1.20%
Fair Value (in Dollars)	[1]	$ 654
Interest Rate	[1],[3]	9.17%
Maturity	[1]	Mar. 03, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Chart Industries, Inc.[Member]
Amortized Cost (in Dollars)	[1]	$ 993
Par Amount (in Dollars)	[1]	$ 997
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 1,000
Interest Rate	[1],[3]	9.17%
Maturity	[1]	Mar. 15, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DS Parent, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 890
Par Amount (in Dollars)	[1]	$ 913
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 905
Interest Rate	[1],[3]	11.34%
Maturity	[1]	Dec. 10, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.59%
Basis Point Spread Above Index	[1],[3]	5.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Energy Acquisition LP [Member]
Amortized Cost (in Dollars)	[1]	$ 623
Par Amount (in Dollars)	[1]	$ 623
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 619
Interest Rate	[1],[3]	9.77%
Maturity	[1]	Jun. 26, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	4.35%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Novae LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 1,923
Par Amount (in Dollars)	[1]	$ 1,972
% of Net Assets	[1],[2]	3.30%
Fair Value (in Dollars)	[1]	$ 1,841
Interest Rate	[1],[3]	10.34%
Maturity	[1]	Dec. 22, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.09%
Basis Point Spread Above Index	[1],[3]	5.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 4,994
% of Net Assets	[1],[2]	8.90%
Fair Value (in Dollars)	[1]	$ 4,967
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Albaugh, LLC [Member]
Amortized Cost (in Dollars)	[1]	1,192
Par Amount (in Dollars)	[1]	$ 1,201
% of Net Assets	[1],[2]	2.10%
Fair Value (in Dollars)	[1]	$ 1,175
Interest Rate	[1],[3]	9.12%
Maturity	[1]	Apr. 06, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	3.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Bakelite UK Intermediate Ltd. [Member]
Amortized Cost (in Dollars)	[1]	$ 984
Par Amount (in Dollars)	[1]	$ 988
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 979
Interest Rate	[1],[3]	9.54%
Maturity	[1]	May 29, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.15%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DCG Acquisition Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,220
Par Amount (in Dollars)	[1]	$ 1,219
% of Net Assets	[1],[2]	2.20%
Fair Value (in Dollars)	[1]	$ 1,211
Interest Rate	[1],[3]	9.92%
Maturity	[1]	Sep. 30, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | H.B. Fuller Company [Member]
Amortized Cost (in Dollars)	[1]	$ 118
Par Amount (in Dollars)	[1]	$ 118
% of Net Assets	[1],[2]	0.20%
Fair Value (in Dollars)	[1]	$ 119
Interest Rate	[1],[3]	7.57%
Maturity	[1]	Feb. 15, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sparta U.S. Holdco LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 490
Par Amount (in Dollars)	[1]	$ 491
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 490
Interest Rate	[1],[3]	8.69%
Maturity	[1]	Aug. 02, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.36%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Tronox Finance LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 990
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 993
Interest Rate	[1],[3]	8.83%
Maturity	[1]	Aug. 16, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Construction & Building [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 4,020
% of Net Assets	[1],[2]	7.30%
Fair Value (in Dollars)	[1]	$ 4,081
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Columbus McKinnon Corporation [Member]
Amortized Cost (in Dollars)	[1]	710
Par Amount (in Dollars)	[1]	$ 715
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 716
Interest Rate	[1],[3]	8.42%
Maturity	[1]	May 14, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.41%
Basis Point Spread Above Index	[1],[3]	3.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Crown Subsea Communications Holding, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 485
Par Amount (in Dollars)	[1]	$ 494
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 497
Interest Rate	[1],[3]	10.69%
Maturity	[1]	Apr. 27, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	5.36%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Janus International Group, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 627
Par Amount (in Dollars)	[1]	$ 633
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 632
Interest Rate	[1],[3]	8.68%
Maturity	[1]	Aug. 03, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.35%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Smyrna Ready Mix Concrete, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 1,203
Par Amount (in Dollars)	[1]	$ 1,234
% of Net Assets	[1],[2]	2.20%
Fair Value (in Dollars)	[1]	$ 1,239
Interest Rate	[1],[3]	9.67%
Maturity	[1]	Apr. 02, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.35%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | TAMKO Building Products LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 995
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 997
Interest Rate	[1],[3]	8.90%
Maturity	[1]	Sep. 20, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.40%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Hercules Achievement, Inc. (Varsity Brands Holding Co., Inc.) [Member]
Amortized Cost (in Dollars)	[1]	$ 983
Par Amount (in Dollars)	[1]	$ 993
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 973
Interest Rate	[1],[3]	10.43%
Maturity	[1]	Dec. 15, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.43%
Basis Point Spread Above Index	[1],[3]	5.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Hunter Douglas Holding B.V. [Member]
Amortized Cost (in Dollars)	[1]	$ 984
Par Amount (in Dollars)	[1]	$ 988
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 964
Interest Rate	[1],[3]	8.89%
Maturity	[1]	Feb. 26, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LHS Borrower, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 650
Par Amount (in Dollars)	[1]	$ 655
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 601
Interest Rate	[1],[3]	10.17%
Maturity	[1]	Feb. 16, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Mannington Mills, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 427
Par Amount (in Dollars)	[1]	$ 427
% of Net Assets	[1],[2]	0.70%
Fair Value (in Dollars)	[1]	$ 381
Interest Rate	[1],[3]	9.40%
Maturity	[1]	Aug. 06, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Pelican Products, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 980
Par Amount (in Dollars)	[1]	$ 983
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 934
Interest Rate	[1],[3]	9.79%
Maturity	[1]	Dec. 29, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.40%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Recess Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 627
Par Amount (in Dollars)	[1]	$ 633
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 633
Interest Rate	[1],[3]	9.38%
Maturity	[1]	Mar. 29, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.38%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Total Consumer Goods: Durable [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[1]	$ 4,651
% of Net Assets	[1],[2]	8.00%
Fair Value (in Dollars)	[1]	$ 4,486
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Conair Holdings LLC [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Consumer Goods: Non-Durable [Member]
Amortized Cost (in Dollars)	[1]	1,125
Par Amount (in Dollars)	[1]	$ 1,129
% of Net Assets	[1],[2]	1.90%
Fair Value (in Dollars)	[1]	$ 1,085
Interest Rate	[1],[3]	9.18%
Maturity	[1]	May 17, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | Investments made in Luxembourg [Member]
Amortized Cost (in Dollars)	[1]	$ 14
% of Net Assets	[1],[2]	0.00%
Fair Value (in Dollars)	[1]	$ 13
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Canister International Group Inc. [Member]
Amortized Cost (in Dollars)	[1]	484
Par Amount (in Dollars)	[1]	$ 485
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 487
Interest Rate	[1],[3]	10.17%
Maturity	[1]	Dec. 21, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	4.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Pactiv Evergreen Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 959
Par Amount (in Dollars)	[1]	$ 982
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 983
Interest Rate	[1],[3]	8.68%
Maturity	[1]	Sep. 24, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.43%
Basis Point Spread Above Index	[1],[3]	3.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Plaze, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 649
Par Amount (in Dollars)	[1]	$ 656
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 635
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Aug. 03, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabert Corporation [Member]
Amortized Cost (in Dollars)	[1]	$ 875
Par Amount (in Dollars)	[1]	$ 876
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 879
Interest Rate	[1],[3]	9.93%
Maturity	[1]	Dec. 10, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in Luxembourg [Member] | Mar Bidco S.a r.l. [Member]
Amortized Cost (in Dollars)	[1]	$ 14
Par Amount (in Dollars)	[1]	$ 14
% of Net Assets	[1],[2]	0.00%
Fair Value (in Dollars)	[1]	$ 13
Interest Rate	[1],[3]	9.00%
Maturity	[1]	Jul. 07, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.05%
Basis Point Spread Above Index	[1],[3]	3.95%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Electricity [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Astoria Energy LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 935
Par Amount (in Dollars)	[1]	$ 938
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 940
Interest Rate	[1],[3]	8.93%
Maturity	[1]	Dec. 10, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Electricity [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Hamilton Projects Acquiror, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 786
Par Amount (in Dollars)	[1]	$ 802
% of Net Assets	[1],[2]	1.40%
Fair Value (in Dollars)	[1]	$ 800
Interest Rate	[1],[3]	9.93%
Maturity	[1]	Jun. 17, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Electricity [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Invenergy Thermal Operating I LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 910
Par Amount (in Dollars)	[1]	$ 929
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 930
Interest Rate	[1],[3]	9.91%
Maturity	[1]	Aug. 14, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.30%
Basis Point Spread Above Index	[1],[3]	4.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Electricity [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Invenergy Thermal Operating I LLC One [Member]
Amortized Cost (in Dollars)	[1]	$ 70
Par Amount (in Dollars)	[1]	$ 71
% of Net Assets	[1],[2]	0.10%
Fair Value (in Dollars)	[1]	$ 72
Interest Rate	[1],[3]	9.91%
Maturity	[1]	Aug. 14, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.30%
Basis Point Spread Above Index	[1],[3]	4.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | AL NGPL Holdings, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 666
Par Amount (in Dollars)	[1]	$ 663
% of Net Assets	[1],[2]	1.20%
Fair Value (in Dollars)	[1]	$ 664
Interest Rate	[1],[3]	9.04%
Maturity	[1]	Apr. 13, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.28%
Basis Point Spread Above Index	[1],[3]	3.76%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | AL NGPL Holdings, LLC One [Member]
Amortized Cost (in Dollars)	[1]	$ 404
Par Amount (in Dollars)	[1]	$ 412
% of Net Assets	[1],[2]	0.70%
Fair Value (in Dollars)	[1]	$ 413
Interest Rate	[1],[3]	9.29%
Maturity	[1]	Apr. 13, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.28%
Basis Point Spread Above Index	[1],[3]	4.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | BCP Renaissance Parent L.L.C. [Member]
Amortized Cost (in Dollars)	[1]	$ 187
Par Amount (in Dollars)	[1]	$ 187
% of Net Assets	[1],[2]	0.30%
Fair Value (in Dollars)	[1]	$ 187
Interest Rate	[1],[3]	8.90%
Maturity	[1]	Oct. 31, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.40%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CQP Holdco LP [Member]
Amortized Cost (in Dollars)	[1]	$ 1,218
Par Amount (in Dollars)	[1]	$ 1,222
% of Net Assets	[1],[2]	2.20%
Fair Value (in Dollars)	[1]	$ 1,225
Interest Rate	[1],[3]	8.99%
Maturity	[1]	Jun. 05, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Delek US Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 603
Par Amount (in Dollars)	[1]	$ 626
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 623
Interest Rate	[1],[3]	8.92%
Maturity	[1]	Nov. 19, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | GIP Pilot Acquisition Partners LP [Member]
Amortized Cost (in Dollars)	[1]	$ 210
Par Amount (in Dollars)	[1]	$ 211
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 211
Interest Rate	[1],[3]	8.33%
Maturity	[1]	Oct. 04, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Prairie ECI Acquiror LP [Member]
Amortized Cost (in Dollars)	[1]	$ 494
Par Amount (in Dollars)	[1]	$ 500
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 500
Interest Rate	[1],[3]	10.17%
Maturity	[1]	Mar. 11, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Traverse Midstream Partners LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 410
Par Amount (in Dollars)	[1]	$ 412
% of Net Assets	[1],[2]	0.70%
Fair Value (in Dollars)	[1]	$ 413
Interest Rate	[1],[3]	9.22%
Maturity	[1]	Feb. 16, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Forest Products & Paper [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Schweitzer-Mauduit International, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 971
Par Amount (in Dollars)	[1]	$ 978
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 968
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Apr. 20, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | Investments made in France [Member] | Curium BidCo S.a r.l. [Member]
Amortized Cost (in Dollars)	[1]	$ 247
Par Amount (in Dollars)	[1]	$ 249
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 249
Interest Rate	[1],[3]	9.89%
Maturity	[1]	Jul. 31, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Alvogen Pharma US, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 488
Par Amount (in Dollars)	[1]	$ 490
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 479
Interest Rate	[1],[3]	10.79%
Maturity	[1]	Dec. 31, 2023
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	5.40%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Amneal Pharmaceuticals [Member]
Amortized Cost (in Dollars)	[1]	$ 932
Par Amount (in Dollars)	[1]	$ 989
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 974
Interest Rate	[1],[3]	8.93%
Maturity	[1]	May 04, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ANI Pharmaceuticals, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 973
Par Amount (in Dollars)	[1]	$ 983
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 983
Interest Rate	[1],[3]	11.43%
Maturity	[1]	Nov. 19, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	6.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ASP Navigate Acquisition Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 980
Par Amount (in Dollars)	[1]	$ 980
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 977
Interest Rate	[1],[3]	9.88%
Maturity	[1]	Oct. 06, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	4.51%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Athletico Management, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 240
Par Amount (in Dollars)	[1]	$ 247
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 208
Interest Rate	[1],[3]	9.79%
Maturity	[1]	Feb. 15, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.40%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Aveanna Healthcare LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 425
Par Amount (in Dollars)	[1]	$ 425
% of Net Assets	[1],[2]	0.70%
Fair Value (in Dollars)	[1]	$ 384
Interest Rate	[1],[3]	9.27%
Maturity	[1]	Jul. 17, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Bayou Intermediate II, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 979
Par Amount (in Dollars)	[1]	$ 983
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 958
Interest Rate	[1],[3]	9.97%
Maturity	[1]	Aug. 02, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	4.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Carestream Dental Technology Parent Limited [Member]
Amortized Cost (in Dollars)	[1]	$ 881
Par Amount (in Dollars)	[1]	$ 888
% of Net Assets	[1],[2]	1.40%
Fair Value (in Dollars)	[1]	$ 784
Interest Rate	[1],[3]	10.23%
Maturity	[1]	Sep. 01, 2024
Interest Rate Floor / Base Rate	[1],[3]	5.73%
Basis Point Spread Above Index	[1],[3]	4.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CCRR Parent, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 972
Par Amount (in Dollars)	[1]	$ 975
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 934
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Mar. 06, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Confluent Health, LLC Two [Member]
Amortized Cost (in Dollars)	[1]	$ 943
Par Amount (in Dollars)	[1]	$ 946
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 905
Interest Rate	[1],[3]	9.43%
Maturity	[1]	Nov. 30, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.43%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | FC Compassus, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 1,217
Par Amount (in Dollars)	[1]	$ 1,218
% of Net Assets	[1],[2]	2.10%
Fair Value (in Dollars)	[1]	$ 1,181
Interest Rate	[1],[3]	9.88%
Maturity	[1]	Dec. 31, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	4.51%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Global Medical Response, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 482
Par Amount (in Dollars)	[1]	$ 486
% of Net Assets	[1],[2]	0.60%
Fair Value (in Dollars)	[1]	$ 342
Interest Rate	[1],[3]	9.78%
Maturity	[1]	Oct. 02, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.27%
Basis Point Spread Above Index	[1],[3]	4.51%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Golden State Buyer, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 938
Par Amount (in Dollars)	[1]	$ 943
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 917
Interest Rate	[1],[3]	10.18%
Maturity	[1]	Jun. 21, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	4.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Help at Home, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 985
Par Amount (in Dollars)	[1]	$ 998
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 989
Interest Rate	[1],[3]	10.42%
Maturity	[1]	Oct. 29, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	5.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Onex TSG Intermediate Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 965
Par Amount (in Dollars)	[1]	$ 978
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 913
Interest Rate	[1],[3]	10.38%
Maturity	[1]	Feb. 28, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.63%
Basis Point Spread Above Index	[1],[3]	4.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Pacific Dental Services, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 210
Par Amount (in Dollars)	[1]	$ 210
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 210
Interest Rate	[1],[3]	8.93%
Maturity	[1]	May 05, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | PDS Holdco Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,333
Par Amount (in Dollars)	[1]	$ 1,337
% of Net Assets	[1],[2]	2.00%
Fair Value (in Dollars)	[1]	$ 1,102
Interest Rate	[1],[3]	10.18%
Maturity	[1]	Aug. 18, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	4.76%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Select Medical Corporation [Member]
Amortized Cost (in Dollars)	[1]	$ 104
Par Amount (in Dollars)	[1]	$ 105
% of Net Assets	[1],[2]	0.20%
Fair Value (in Dollars)	[1]	$ 105
Interest Rate	[1],[3]	8.32%
Maturity	[1]	Mar. 06, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sotera Health Holdings, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 214
Par Amount (in Dollars)	[1]	$ 219
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 220
Interest Rate	[1],[3]	9.07%
Maturity	[1]	Dec. 11, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | TTF Holdings, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 631
Par Amount (in Dollars)	[1]	$ 635
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 635
Interest Rate	[1],[3]	9.43%
Maturity	[1]	Mar. 31, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | U.S. Anesthesia Partners, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,088
Par Amount (in Dollars)	[1]	$ 1,091
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 1,004
Interest Rate	[1],[3]	9.69%
Maturity	[1]	Oct. 01, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	4.36%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.) [Member]
Amortized Cost (in Dollars)	[1]	$ 977
Par Amount (in Dollars)	[1]	$ 983
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 955
Interest Rate	[1],[3]	10.74%
Maturity	[1]	Dec. 15, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	5.35%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Delayed Draw Loan [Member] | Investments made in the United States [Member] | Help at Home, LLC Two [Member]
Amortized Cost (in Dollars)	[1]	$ 125
Par Amount (in Dollars)	[1]	$ 126
% of Net Assets	[1],[2]	0.20%
Fair Value (in Dollars)	[1]	$ 125
Interest Rate	[1],[3]	10.42%
Maturity	[1]	Oct. 29, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	5.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Delayed Draw Loan [Member] | Investments made in the United States [Member] | PDS Holdco Inc. Two [Member]
Amortized Cost (in Dollars)	[1]	$ 137
Par Amount (in Dollars)	[1]	$ 137
% of Net Assets	[1],[2]	0.20%
Fair Value (in Dollars)	[1]	$ 113
Interest Rate	[1],[3]	10.18%
Maturity	[1]	Aug. 18, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	4.76%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Casa Systems, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,277
Par Amount (in Dollars)	[1]	$ 1,277
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 994
Interest Rate	[1],[3]	12.22%
Maturity	[1]	Dec. 20, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.29%
Basis Point Spread Above Index	[1],[3]	6.93%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Casa Systems, Inc. One [Member]
Amortized Cost (in Dollars)	[1],[4]
Par Amount (in Dollars)	[1],[4]	$ 65
% of Net Assets	[1],[2],[4]	0.10%
Fair Value (in Dollars)	[1],[4]	$ 39
Interest Rate	[1],[3],[4]
Maturity	[1],[4]
Interest Rate Floor / Base Rate	[1],[3],[4]
Basis Point Spread Above Index	[1],[3],[4]
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Casa Systems, Inc. Two [Member]
Amortized Cost (in Dollars)	[1]
Par Amount (in Dollars)	[1]	$ 33
% of Net Assets	[1],[2]	0.00%
Fair Value (in Dollars)	[1]
Interest Rate	[1],[3]
Maturity	[1]
Interest Rate Floor / Base Rate	[1],[3]
Basis Point Spread Above Index	[1],[3]
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Casa Systems, Inc. Three [Member]
Amortized Cost (in Dollars)	[1]
Par Amount (in Dollars)	[1]	$ 33
% of Net Assets	[1],[2]	0.00%
Fair Value (in Dollars)	[1]
Interest Rate	[1],[3]
Maturity	[1]
Interest Rate Floor / Base Rate	[1],[3]
Basis Point Spread Above Index	[1],[3]
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CE Intermediate I, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 978
Par Amount (in Dollars)	[1]	$ 985
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 976
Interest Rate	[1],[3]	9.02%
Maturity	[1]	Nov. 10, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	3.65%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Ingram Micro Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 725
Par Amount (in Dollars)	[1]	$ 730
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 730
Interest Rate	[1],[3]	8.65%
Maturity	[1]	Jun. 30, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	3.26%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LogMeIn, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 958
Par Amount (in Dollars)	[1]	$ 973
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 650
Interest Rate	[1],[3]	10.27%
Maturity	[1]	Aug. 31, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	4.90%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Monotype Imaging Holdings Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 716
Par Amount (in Dollars)	[1]	$ 718
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 720
Interest Rate	[1],[3]	10.49%
Maturity	[1]	Oct. 09, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	5.10%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Quest Software US Holdings Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,473
Par Amount (in Dollars)	[1]	$ 1,485
% of Net Assets	[1],[2]	2.20%
Fair Value (in Dollars)	[1]	$ 1,244
Interest Rate	[1],[3]	9.77%
Maturity	[1]	Feb. 01, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	4.40%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Revspring, Inc. (fka Dantom Systems, Inc.) One [Member]
Amortized Cost (in Dollars)	[1]	$ 994
Par Amount (in Dollars)	[1]	$ 998
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 984
Interest Rate	[1],[3]	9.65%
Maturity	[1]	Oct. 11, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.26%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Rocket Software, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 742
Par Amount (in Dollars)	[1]	$ 753
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 743
Interest Rate	[1],[3]	9.68%
Maturity	[1]	Nov. 28, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.36%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | VeriFone Systems, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,365
Par Amount (in Dollars)	[1]	$ 1,374
% of Net Assets	[1],[2]	2.30%
Fair Value (in Dollars)	[1]	$ 1,271
Interest Rate	[1],[3]	9.65%
Maturity	[1]	Aug. 20, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.65%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Vision Solutions, Inc. (Precisely Software Incorporated) [Member]
Amortized Cost (in Dollars)	[1]	$ 977
Par Amount (in Dollars)	[1]	$ 979
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 951
Interest Rate	[1],[3]	9.61%
Maturity	[1]	Apr. 24, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.35%
Basis Point Spread Above Index	[1],[3]	4.26%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Watlow Electric Manufacturing Company [Member]
Amortized Cost (in Dollars)	[1]	$ 835
Par Amount (in Dollars)	[1]	$ 840
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 835
Interest Rate	[1],[3]	9.38%
Maturity	[1]	Mar. 02, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	4.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Zotec Partners, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 982
Par Amount (in Dollars)	[1]	$ 993
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 902
Interest Rate	[1],[3]	9.40%
Maturity	[1]	Feb. 14, 2024
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in Germany [Member] | Mosel Bidco SE [Member]
Amortized Cost (in Dollars)	[1]	$ 209
Par Amount (in Dollars)	[1]	$ 211
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 211
Interest Rate	[1],[3]	10.14%
Maturity	[1]	Sep. 16, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Arcis Golf LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 977
Par Amount (in Dollars)	[1]	$ 985
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 988
Interest Rate	[1],[3]	9.68%
Maturity	[1]	Nov. 24, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.43%
Basis Point Spread Above Index	[1],[3]	4.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ClubCorp Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 486
Par Amount (in Dollars)	[1]	$ 493
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 487
Interest Rate	[1],[3]	8.18%
Maturity	[1]	Sep. 18, 2024
Interest Rate Floor / Base Rate	[1],[3]	5.43%
Basis Point Spread Above Index	[1],[3]	2.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Fertitta Entertainment, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 984
Par Amount (in Dollars)	[1]	$ 985
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 977
Interest Rate	[1],[3]	9.32%
Maturity	[1]	Jan. 27, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Herschend Entertainment Company, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 196
Par Amount (in Dollars)	[1]	$ 197
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 198
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Aug. 27, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Kingpin Intermediate Holdings LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 297
Par Amount (in Dollars)	[1]	$ 300
% of Net Assets	[1],[2]	0.50%
Fair Value (in Dollars)	[1]	$ 299
Interest Rate	[1],[3]	8.82%
Maturity	[1]	Feb. 08, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabre GLBL Inc.[Member]
Amortized Cost (in Dollars)	[1]	$ 425
Par Amount (in Dollars)	[1]	$ 426
% of Net Assets	[1],[2]	0.70%
Fair Value (in Dollars)	[1]	$ 375
Interest Rate	[1],[3]	8.93%
Maturity	[1]	Dec. 17, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabre GLBL Inc. Two [Member]
Amortized Cost (in Dollars)	[1]	$ 272
Par Amount (in Dollars)	[1]	$ 272
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 240
Interest Rate	[1],[3]	8.93%
Maturity	[1]	Dec. 17, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabre GLBL Inc. Three [Member]
Amortized Cost (in Dollars)	[1]	$ 332
Par Amount (in Dollars)	[1]	$ 347
% of Net Assets	[1],[2]	0.50%
Fair Value (in Dollars)	[1]	$ 308
Interest Rate	[1],[3]	10.42%
Maturity	[1]	Jun. 30, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	5.10%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in Canada [Member] | Ontario Gaming GTA Limited Partnership [Member]
Amortized Cost (in Dollars)	[1]	$ 171
Par Amount (in Dollars)	[1]	$ 173
% of Net Assets	[1],[2]	0.30%
Fair Value (in Dollars)	[1]	$ 173
Interest Rate	[1],[3]	9.64%
Maturity	[1]	Aug. 01, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Media: Advertising, Printing & Publishing [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Oceankey (U.S.) II Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 977
Par Amount (in Dollars)	[1]	$ 985
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 945
Interest Rate	[1],[3]	8.92%
Maturity	[1]	Dec. 15, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Media: Advertising, Printing & Publishing [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Thryv, Inc.[Member]
Amortized Cost (in Dollars)	[1]	$ 816
Par Amount (in Dollars)	[1]	$ 819
% of Net Assets	[1],[2]	1.40%
Fair Value (in Dollars)	[1]	$ 821
Interest Rate	[1],[3]	13.93%
Maturity	[1]	Mar. 01, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	8.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Media: Broadcasting & Subscription [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LCPR Loan Financing LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 501
Par Amount (in Dollars)	[1]	$ 500
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 497
Interest Rate	[1],[3]	9.20%
Maturity	[1]	Oct. 16, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Media: Broadcasting & Subscription [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sinclair Television Group, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 722
Par Amount (in Dollars)	[1]	$ 741
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 521
Interest Rate	[1],[3]	9.17%
Maturity	[1]	Apr. 21, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Media: Broadcasting & Subscription [Member] | First Lien - Term Loan [Member] | Investments made in the United Kingdom [Member] | Virgin Media Bristol LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 202
Par Amount (in Dollars)	[1]	$ 204
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 203
Interest Rate	[1],[3]	8.92%
Maturity	[1]	Feb. 18, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Apro, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 1,311
Par Amount (in Dollars)	[1]	$ 1,316
% of Net Assets	[1],[2]	2.30%
Fair Value (in Dollars)	[1]	$ 1,317
Interest Rate	[1],[3]	9.19%
Maturity	[1]	Nov. 14, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Great Outdoors Group, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 969
Par Amount (in Dollars)	[1]	$ 973
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 972
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Mar. 06, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Rent-A-Center, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 549
Par Amount (in Dollars)	[1]	$ 549
% of Net Assets	[1],[2]	1.00%
Fair Value (in Dollars)	[1]	$ 548
Interest Rate	[1],[3]	8.88%
Maturity	[1]	Feb. 17, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	3.51%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Term Loan [Member] | Investments made in Canada [Member] | 1011778 B.C. Unlimited Liability Company [Member]
Amortized Cost (in Dollars)	[1]	$ 995
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 997
Interest Rate	[1],[3]	7.57%
Maturity	[1]	Sep. 23, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Ahead DB Holdings, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 978
Par Amount (in Dollars)	[1]	$ 978
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 972
Interest Rate	[1],[3]	9.24%
Maturity	[1]	Oct. 18, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Artera Services, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 972
Par Amount (in Dollars)	[1]	$ 978
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 919
Interest Rate	[1],[3]	8.99%
Maturity	[1]	Mar. 06, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.49%
Basis Point Spread Above Index	[1],[3]	3.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ASGN Incorporated (fka On Assignment, Inc.) [Member]
Amortized Cost (in Dollars)	[1]	$ 748
Par Amount (in Dollars)	[1]	$ 750
% of Net Assets	[1],[2]	1.40%
Fair Value (in Dollars)	[1]	$ 754
Interest Rate	[1],[3]	7.57%
Maturity	[1]	Aug. 30, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Congruex Group LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 967
Par Amount (in Dollars)	[1]	$ 988
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 975
Interest Rate	[1],[3]	11.27%
Maturity	[1]	May 03, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	5.90%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DTI Holdco, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,101
Par Amount (in Dollars)	[1]	$ 1,119
% of Net Assets	[1],[2]	1.90%
Fair Value (in Dollars)	[1]	$ 1,092
Interest Rate	[1],[3]	10.12%
Maturity	[1]	Apr. 26, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	4.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Energize Holdco LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 861
Par Amount (in Dollars)	[1]	$ 864
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 855
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Dec. 08, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | GTCR W Merger Sub LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 746
Par Amount (in Dollars)	[1]	$ 750
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 750
Interest Rate	[1],[3]	8.33%
Maturity	[1]	Sep. 20, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Indy US Bidco, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 486
Par Amount (in Dollars)	[1]	$ 488
% of Net Assets	[1],[2]	0.80%
Fair Value (in Dollars)	[1]	$ 468
Interest Rate	[1],[3]	9.07%
Maturity	[1]	Mar. 06, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Mermaid Bidco Inc. (Datasite) [Member]
Amortized Cost (in Dollars)	[1]	$ 976
Par Amount (in Dollars)	[1]	$ 979
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 980
Interest Rate	[1],[3]	9.90%
Maturity	[1]	Dec. 22, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.40%
Basis Point Spread Above Index	[1],[3]	4.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Phoenix Services International LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 370
Par Amount (in Dollars)	[1]	$ 370
% of Net Assets	[1],[2]	0.60%
Fair Value (in Dollars)	[1]	$ 345
Interest Rate	[1],[3]	11.42%
Maturity	[1]	Jun. 30, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	6.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Phoenix Services International LLC One [Member]
Amortized Cost (in Dollars)	[1]	$ 311
Par Amount (in Dollars)	[1]	$ 31
% of Net Assets	[1],[2]	0.50%
Fair Value (in Dollars)	[1]	$ 291
Interest Rate	[1],[3]
Maturity	[1]
Interest Rate Floor / Base Rate	[1],[3]
Basis Point Spread Above Index	[1],[3]
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Pitney Bowes Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 968
Par Amount (in Dollars)	[1]	$ 975
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 941
Interest Rate	[1],[3]	9.43%
Maturity	[1]	Mar. 17, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Presidio Holdings Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 987
Par Amount (in Dollars)	[1]	$ 987
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 987
Interest Rate	[1],[3]	8.92%
Maturity	[1]	Jan. 22, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Rockwood Service Corporation [Member]
Amortized Cost (in Dollars)	[1]	$ 249
Par Amount (in Dollars)	[1]	$ 249
% of Net Assets	[1],[2]	0.50%
Fair Value (in Dollars)	[1]	$ 251
Interest Rate	[1],[3]	9.43%
Maturity	[1]	Jan. 23, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sitel Group [Member]
Amortized Cost (in Dollars)	[1]	$ 1,465
Par Amount (in Dollars)	[1]	$ 1,470
% of Net Assets	[1],[2]	2.60%
Fair Value (in Dollars)	[1]	$ 1,438
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Aug. 28, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Skopima Consilio Parent LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 976
Par Amount (in Dollars)	[1]	$ 980
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 956
Interest Rate	[1],[3]	9.43%
Maturity	[1]	May 12, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Tempo Acquisition, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 978
Par Amount (in Dollars)	[1]	$ 980
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 982
Interest Rate	[1],[3]	8.07%
Maturity	[1]	Aug. 31, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.75%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | UST Global Inc [Member]
Amortized Cost (in Dollars)	[1]	$ 979
Par Amount (in Dollars)	[1]	$ 983
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 968
Interest Rate	[1],[3]	8.95%
Maturity	[1]	Nov. 20, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | VM Consolidated, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 2
Par Amount (in Dollars)	[1]	$ 2
% of Net Assets	[1],[2]	0.00%
Fair Value (in Dollars)	[1]	$ 2
Interest Rate	[1],[3]	8.68%
Maturity	[1]	Mar. 24, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.36%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Zelis Cost Management Buyer, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 414
Par Amount (in Dollars)	[1]	$ 416
% of Net Assets	[1],[2]	0.70%
Fair Value (in Dollars)	[1]	$ 417
Interest Rate	[1],[3]	8.93%
Maturity	[1]	Sep. 30, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Consumer [Member] | Investments made in Ireland [Member]
Amortized Cost (in Dollars)	[1]	$ 971
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 971
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | WW International, Inc. [Member]
Amortized Cost (in Dollars)	[1]	942
Par Amount (in Dollars)	[1]	$ 945
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 719
Interest Rate	[1],[3]	8.93%
Maturity	[1]	Apr. 13, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Services: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in Ireland [Member] | Cimpress plc [Member]
Amortized Cost (in Dollars)	[1]	$ 971
Par Amount (in Dollars)	[1]	$ 978
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 971
Interest Rate	[1],[3]	8.93%
Maturity	[1]	May 17, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.61%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | Investments made in Luxembourg [Member]
Amortized Cost (in Dollars)	[1]	$ 1,947
% of Net Assets	[1],[2]	3.50%
Fair Value (in Dollars)	[1]	$ 1,964
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CCI Buyer, Inc. [Member]
Amortized Cost (in Dollars)	[1]	969
Par Amount (in Dollars)	[1]	$ 975
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 964
Interest Rate	[1],[3]	9.39%
Maturity	[1]	Dec. 17, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Ciena Corporation [Member]
Amortized Cost (in Dollars)	[1]	$ 991
Par Amount (in Dollars)	[1]	$ 995
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 999
Interest Rate	[1],[3]	7.82%
Maturity	[1]	Jan. 18, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ConvergeOne Holdings, Corp. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,448
Par Amount (in Dollars)	[1]	$ 1,462
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 905
Interest Rate	[1],[3]	10.37%
Maturity	[1]	Jan. 04, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.37%
Basis Point Spread Above Index	[1],[3]	5.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Digi International Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 656
Par Amount (in Dollars)	[1]	$ 666
% of Net Assets	[1],[2]	1.20%
Fair Value (in Dollars)	[1]	$ 666
Interest Rate	[1],[3]	10.43%
Maturity	[1]	Nov. 01, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.43%
Basis Point Spread Above Index	[1],[3]	5.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Guardian US Holdco LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 291
Par Amount (in Dollars)	[1]	$ 296
% of Net Assets	[1],[2]	0.50%
Fair Value (in Dollars)	[1]	$ 297
Interest Rate	[1],[3]	9.39%
Maturity	[1]	Jan. 31, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Iridium Satellite LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 52
Par Amount (in Dollars)	[1]	$ 52
% of Net Assets	[1],[2]	0.10%
Fair Value (in Dollars)	[1]	$ 52
Interest Rate	[1],[3]	7.82%
Maturity	[1]	Sep. 20, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Mavenir Systems, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 1,291
Par Amount (in Dollars)	[1]	$ 1,300
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 1,037
Interest Rate	[1],[3]	10.39%
Maturity	[1]	Aug. 18, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.38%
Basis Point Spread Above Index	[1],[3]	5.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Syniverse Holdings, LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 959
Par Amount (in Dollars)	[1]	$ 990
% of Net Assets	[1],[2]	1.60%
Fair Value (in Dollars)	[1]	$ 877
Interest Rate	[1],[3]	12.39%
Maturity	[1]	May 13, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	7.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Zayo Group Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 997
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.50%
Fair Value (in Dollars)	[1]	$ 820
Interest Rate	[1],[3]	8.43%
Maturity	[1]	Mar. 09, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in Luxembourg [Member] | Venga Finance S.a r.l. [Member]
Amortized Cost (in Dollars)	[1]	$ 965
Par Amount (in Dollars)	[1]	$ 990
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 985
Interest Rate	[1],[3]	10.43%
Maturity	[1]	Jun. 28, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.42%
Basis Point Spread Above Index	[1],[3]	5.01%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in Luxembourg [Member] | Zacapa S.a r.l. [Member]
Amortized Cost (in Dollars)	[1]	$ 982
Par Amount (in Dollars)	[1]	$ 984
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 979
Interest Rate	[1],[3]	9.39%
Maturity	[1]	Mar. 22, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	4.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Carriage Purchaser, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 977
Par Amount (in Dollars)	[1]	$ 980
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 962
Interest Rate	[1],[3]	9.68%
Maturity	[1]	Sep. 30, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.36%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Clue Opco LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 720
Par Amount (in Dollars)	[1]	$ 750
% of Net Assets	[1],[2]	1.30%
Fair Value (in Dollars)	[1]	$ 734
Interest Rate	[1],[3]	9.83%
Maturity	[1]	Sep. 20, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.33%
Basis Point Spread Above Index	[1],[3]	4.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Daseke Companies, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 797
Par Amount (in Dollars)	[1]	$ 800
% of Net Assets	[1],[2]	1.40%
Fair Value (in Dollars)	[1]	$ 794
Interest Rate	[1],[3]	9.43%
Maturity	[1]	Mar. 09, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	4.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Echo Global Logistics, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 984
Par Amount (in Dollars)	[1]	$ 985
% of Net Assets	[1],[2]	1.70%
Fair Value (in Dollars)	[1]	$ 954
Interest Rate	[1],[3]	8.92%
Maturity	[1]	Nov. 23, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.60%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Kenan Advantage Group, Inc.,The [Member]
Amortized Cost (in Dollars)	[1]	$ 247
Par Amount (in Dollars)	[1]	$ 249
% of Net Assets	[1],[2]	0.50%
Fair Value (in Dollars)	[1]	$ 250
Interest Rate	[1],[3]	9.73%
Maturity	[1]	Mar. 24, 2026
Interest Rate Floor / Base Rate	[1],[3]	5.30%
Basis Point Spread Above Index	[1],[3]	4.43%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | XPO, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 995
Par Amount (in Dollars)	[1]	$ 1,000
% of Net Assets	[1],[2]	1.80%
Fair Value (in Dollars)	[1]	$ 1,005
Interest Rate	[1],[3]	7.32%
Maturity	[1]	May 24, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | Investments made in Ireland [Member]
Amortized Cost (in Dollars)	[1]	$ 500
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 501
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Avolon TLB Borrower 1 (US) LLC [Member]
Amortized Cost (in Dollars)	[1]	592
Par Amount (in Dollars)	[1]	$ 608
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 608
Interest Rate	[1],[3]	7.67%
Maturity	[1]	Dec. 01, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.35%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Avolon TLB Borrower 1 (US) LLC One [Member]
Amortized Cost (in Dollars)	[1]	$ 306
Par Amount (in Dollars)	[1]	$ 309
% of Net Assets	[1],[2]	0.60%
Fair Value (in Dollars)	[1]	$ 310
Interest Rate	[1],[3]	7.82%
Maturity	[1]	Jun. 22, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.50%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | First Student Bidco Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 358
Par Amount (in Dollars)	[1]	$ 360
% of Net Assets	[1],[2]	0.60%
Fair Value (in Dollars)	[1]	$ 351
Interest Rate	[1],[3]	8.50%
Maturity	[1]	Jul. 21, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.24%
Basis Point Spread Above Index	[1],[3]	3.26%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | First Student Bidco Inc. One [Member]
Amortized Cost (in Dollars)	[1]	$ 134
Par Amount (in Dollars)	[1]	$ 135
% of Net Assets	[1],[2]	0.20%
Fair Value (in Dollars)	[1]	$ 132
Interest Rate	[1],[3]	8.50%
Maturity	[1]	Jul. 21, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.24%
Basis Point Spread Above Index	[1],[3]	3.26%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Safe Fleet Holdings LLC [Member]
Amortized Cost (in Dollars)	[1]	$ 631
Par Amount (in Dollars)	[1]	$ 633
% of Net Assets	[1],[2]	1.10%
Fair Value (in Dollars)	[1]	$ 635
Interest Rate	[1],[3]	9.17%
Maturity	[1]	Feb. 23, 2029
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | United AirLines, Inc. [Member]
Amortized Cost (in Dollars)	[1]	$ 773
Par Amount (in Dollars)	[1]	$ 776
% of Net Assets	[1],[2]	1.40%
Fair Value (in Dollars)	[1]	$ 778
Interest Rate	[1],[3]	9.18%
Maturity	[1]	Apr. 21, 2028
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.86%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in Ireland [Member] | Delos Aircraft Designated Activity Company [Member]
Amortized Cost (in Dollars)	[1]	$ 500
Par Amount (in Dollars)	[1]	$ 500
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 501
Interest Rate	[1],[3]	7.39%
Maturity	[1]	Oct. 31, 2027
Interest Rate Floor / Base Rate	[1],[3]	5.39%
Basis Point Spread Above Index	[1],[3]	2.00%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Utilities: Electric [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Calpine Construction Finance Company, L.P. [Member]
Amortized Cost (in Dollars)	[1]	$ 248
Par Amount (in Dollars)	[1]	$ 250
% of Net Assets	[1],[2]	0.40%
Fair Value (in Dollars)	[1]	$ 249
Interest Rate	[1],[3]	7.57%
Maturity	[1]	Jul. 31, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	2.25%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Utilities: Electric [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | PG&E Corporation [Member]
Amortized Cost (in Dollars)	[1]	$ 483
Par Amount (in Dollars)	[1]	$ 484
% of Net Assets	[1],[2]	0.90%
Fair Value (in Dollars)	[1]	$ 485
Interest Rate	[1],[3]	8.43%
Maturity	[1]	Jun. 23, 2025
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.11%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Total Telecommunications [Member] | Investments made in Luxembourg [Member]
Amortized Cost (in Dollars)	[1]	$ 1,961
% of Net Assets	[1],[2]	3.50%
Fair Value (in Dollars)	[1]	$ 1,977
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Total Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Chemicals, Plastics, & Rubber [Member] | Ineos Quattro Holdings UK Limited [Member]
Amortized Cost (in Dollars)	[1]	118
Par Amount (in Dollars)	[1]	$ 119
% of Net Assets	[1],[2]	0.20%
Fair Value (in Dollars)	[1]	$ 118
Interest Rate	[1],[3]	9.17%
Maturity	[1]	Mar. 14, 2030
Interest Rate Floor / Base Rate	[1],[3]	5.32%
Basis Point Spread Above Index	[1],[3]	3.85%
Non-controlled/Non-Affiliate Investments -243.1% of Shareholder’s Equity [Member] | Total Media: Broadcasting & Subscription [Member] | Investments made in the United Kingdom [Member]
Amortized Cost (in Dollars)	[1]	$ 320
% of Net Assets	[1],[2]	0.60%
Fair Value (in Dollars)	[1]	$ 321
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 130,209
% of Net Assets	[5]		240.10%
Fair Value (in Dollars)	[5]		$ 120,959
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Investments made in Ireland [Member]
Amortized Cost (in Dollars)	[5]		$ 1,975
% of Net Assets	[5]		3.80%
Fair Value (in Dollars)	[5]		$ 1,886
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Investments made in Luxembourg [Member]
Amortized Cost (in Dollars)	[5]		$ 2,461
% of Net Assets	[5]		4.60%
Fair Value (in Dollars)	[5]		$ 2,359
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Investments made in the Netherlands [Member]
Amortized Cost (in Dollars)	[5]		$ 965
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 977
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Investments made in the United Kingdom [Member]
Amortized Cost (in Dollars)	[5]		$ 1,474
% of Net Assets	[5]		2.90%
Fair Value (in Dollars)	[5]		$ 1,438
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Non-controlled/Non-Affiliated Investments [Member]
Amortized Cost (in Dollars)	[5]		$ 137,084
% of Net Assets	[5]		253.30%
Fair Value (in Dollars)	[5]		$ 127,619
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | Investments made in Ireland [Member]
Amortized Cost (in Dollars)	[5]		$ 998
% of Net Assets	[5]		2.00%
Fair Value (in Dollars)	[5]		$ 997
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Amentum Government Services Holdings LLC [Member]
Amortized Cost (in Dollars)	[5]		858
Par Amount (in Dollars)	[5]		$ 862
% of Net Assets	[5],[6]		1.70%
Fair Value (in Dollars)	[5]		$ 842
Interest Rate	[5],[7]		8.76%
Maturity	[5]		Feb. 15, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.76%
Basis Point Spread Above Index	[5],[7]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | HDT Holdco, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 514
Par Amount (in Dollars)	[5]		$ 527
% of Net Assets	[5],[6]		0.90%
Fair Value (in Dollars)	[5]		$ 450
Interest Rate	[5],[7]		10.48%
Maturity	[5]		Jul. 08, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		5.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | MAG DS Corp. [Member]
Amortized Cost (in Dollars)	[5]		$ 892
Par Amount (in Dollars)	[5]		$ 926
% of Net Assets	[5],[6]		1.70%
Fair Value (in Dollars)	[5]		$ 852
Interest Rate	[5],[7]		10.23%
Maturity	[5]		Apr. 01, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		5.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Peraton Corp. [Member]
Amortized Cost (in Dollars)	[5]		$ 961
Par Amount (in Dollars)	[5]		$ 965
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 944
Interest Rate	[5],[7]		8.13%
Maturity	[5]		Feb. 01, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Propulsion (BC) Midco SARL [Member]
Amortized Cost (in Dollars)	[5]		$ 996
Par Amount (in Dollars)	[5]		$ 1,000
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 975
Interest Rate	[5],[7]		8.58%
Maturity	[5]		Sep. 14, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.58%
Basis Point Spread Above Index	[5],[7]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Vertex Aerospace Services Corp. [Member]
Amortized Cost (in Dollars)	[5]		$ 988
Par Amount (in Dollars)	[5]		$ 993
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 977
Interest Rate	[5],[7]		7.88%
Maturity	[5]		Dec. 06, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Spirit Aerosystems, Inc. (fka Mid-Western Aircraft Systems, Inc and Onex Wind Finance LP.) [Member]
Amortized Cost (in Dollars)	[5]		$ 484
Par Amount (in Dollars)	[5]		$ 499
% of Net Assets	[5],[6]		0.90%
Fair Value (in Dollars)	[5]		$ 494
Interest Rate	[5],[7]		8.82%
Maturity	[5]		Jan. 15, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Aerospace & Defense [Member] | First Lien - Term Loan [Member] | Investments made in Ireland [Member] | Setanta Aircraft Leasing DAC [Member]
Amortized Cost (in Dollars)	[5]		$ 998
Par Amount (in Dollars)	[5]		$ 1,000
% of Net Assets	[5]		2.00%
Fair Value (in Dollars)	[5]		$ 997
Interest Rate	[5]		6.73%
Maturity	[5]		Nov. 02, 2028
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		2.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Automotive [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 3,874
% of Net Assets	[5],[6]		7.30%
Fair Value (in Dollars)	[5]		$ 3,686
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Autokiniton US Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[5]		1,472
Par Amount (in Dollars)	[5]		$ 1,480
% of Net Assets	[5],[6]		2.80%
Fair Value (in Dollars)	[5]		$ 1,437
Interest Rate	[5],[7]		8.79%
Maturity	[5]		Apr. 06, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.29%
Basis Point Spread Above Index	[5],[7]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | First Brands Group, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 987
Par Amount (in Dollars)	[5]		$ 987
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 940
Interest Rate	[5],[7]		8.37%
Maturity	[5]		Mar. 30, 2027
Interest Rate Floor / Base Rate	[5],[7]		3.37%
Basis Point Spread Above Index	[5],[7]		5.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Holley Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 931
Par Amount (in Dollars)	[5]		$ 930
% of Net Assets	[5],[6]		1.60%
Fair Value (in Dollars)	[5]		$ 813
Interest Rate	[5],[7]		8.42%
Maturity	[5]		Nov. 17, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.67%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Automotive [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Gates Global LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 484
Par Amount (in Dollars)	[5]		$ 499
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 496
Interest Rate	[5],[7]		7.82%
Maturity	[5]		Nov. 16, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 14,909
% of Net Assets	[5],[6]		28.70%
Fair Value (in Dollars)	[5]		$ 14,410
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | Investments made in the United Kingdom [Member]
Amortized Cost (in Dollars)	[5]		$ 1,474
% of Net Assets	[5]		2.90%
Fair Value (in Dollars)	[5]		$ 1,438
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | AssuredPartners, Inc. [Member]
Amortized Cost (in Dollars)	[5]		990
Par Amount (in Dollars)	[5]		$ 993
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 966
Interest Rate	[5],[7]		7.82%
Maturity	[5]		Feb. 12, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Baldwin Risk Partners, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 1,085
Par Amount (in Dollars)	[5]		$ 1,096
% of Net Assets	[5],[6]		2.10%
Fair Value (in Dollars)	[5]		$ 1,073
Interest Rate	[5],[7]		7.79%
Maturity	[5]		Oct. 14, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.29%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Blackstone Mortgage Trust, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 837
Par Amount (in Dollars)	[5]		$ 849
% of Net Assets	[5],[6]		1.70%
Fair Value (in Dollars)	[5]		$ 834
Interest Rate	[5],[7]		7.82%
Maturity	[5]		May 09, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Citadel Securities LP [Member]
Amortized Cost (in Dollars)	[5]		$ 1,201
Par Amount (in Dollars)	[5]		$ 1,241
% of Net Assets	[5],[6]		2.40%
Fair Value (in Dollars)	[5]		$ 1,220
Interest Rate	[5],[7]		6.93%
Maturity	[5]		Feb. 02, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		2.61%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DRW Holdings, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 535
Par Amount (in Dollars)	[5]		$ 537
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 524
Interest Rate	[5],[7]		8.13%
Maturity	[5]		Feb. 24, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | FinCo I LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 369
Par Amount (in Dollars)	[5]		$ 368
% of Net Assets	[5],[6]		0.70%
Fair Value (in Dollars)	[5]		$ 368
Interest Rate	[5],[7]		6.88%
Maturity	[5]		Jun. 27, 2025
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		2.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Guggenheim Partners Investment Management Holdings, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 112
Par Amount (in Dollars)	[5]		$ 114
% of Net Assets	[5],[6]		0.20%
Fair Value (in Dollars)	[5]		$ 113
Interest Rate	[5],[7]		7.83%
Maturity	[5]		Dec. 12, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.58%
Basis Point Spread Above Index	[5],[7]		3.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Jane Street Group, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 977
Par Amount (in Dollars)	[5]		$ 985
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 958
Interest Rate	[5],[7]		7.13%
Maturity	[5]		Jan. 26, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		2.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | KREF Holdings X LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 495
Par Amount (in Dollars)	[5]		$ 495
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 484
Interest Rate	[5],[7]		7.81%
Maturity	[5]		Sep. 01, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.31%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LendingTree, Inc.[Member]
Amortized Cost (in Dollars)	[5]		$ 1,480
Par Amount (in Dollars)	[5]		$ 1,493
% of Net Assets	[5],[6]		2.70%
Fair Value (in Dollars)	[5]		$ 1,338
Interest Rate	[5],[7]		8.14%
Maturity	[5]		Sep. 15, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.39%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Newport Parent, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 801
Par Amount (in Dollars)	[5]		$ 827
% of Net Assets	[5],[6]		1.70%
Fair Value (in Dollars)	[5]		$ 820
Interest Rate	[5],[7]		11.23%
Maturity	[5]		Dec. 10, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		6.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Paysafe Group Holdings II Limited [Member]
Amortized Cost (in Dollars)	[5]		$ 960
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 947
Interest Rate	[5],[7]		7.13%
Maturity	[5]		Jun. 28, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		2.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Resolute Investment Managers, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 698
Par Amount (in Dollars)	[5]		$ 701
% of Net Assets	[5],[6]		1.10%
Fair Value (in Dollars)	[5]		$ 571
Interest Rate	[5],[7]		8.98%
Maturity	[5]		Apr. 30, 2024
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Russell Investments US Institutional Holdco, Inc.[Member]
Amortized Cost (in Dollars)	[5]		$ 1,568
Par Amount (in Dollars)	[5]		$ 1,583
% of Net Assets	[5],[6]		3.00%
Fair Value (in Dollars)	[5]		$ 1,526
Interest Rate	[5],[7]		7.88%
Maturity	[5]		May 30, 2025
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Ryan Specialty Group, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 493
Par Amount (in Dollars)	[5]		$ 491
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 489
Interest Rate	[5],[7]		7.42%
Maturity	[5]		Sep. 01, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.42%
Basis Point Spread Above Index	[5],[7]		3.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Asurion, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 642
Par Amount (in Dollars)	[5]		$ 649
% of Net Assets	[5],[6]		1.10%
Fair Value (in Dollars)	[5]		$ 581
Interest Rate	[5],[7]		8.68%
Maturity	[5]		Aug. 21, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.58%
Basis Point Spread Above Index	[5],[7]		4.10%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Deerfield Dakota Holding, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 988
Par Amount (in Dollars)	[5]		$ 992
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 929
Interest Rate	[5],[7]		8.07%
Maturity	[5]		Apr. 09, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | IMA Financial Group, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 489
Par Amount (in Dollars)	[5]		$ 495
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 480
Interest Rate	[5],[7]		7.88%
Maturity	[5]		Nov. 01, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Minotaur Acquisition, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 189
Par Amount (in Dollars)	[5]		$ 197
% of Net Assets	[5],[6]		0.50%
Fair Value (in Dollars)	[5]		$ 189
Interest Rate	[5],[7]		9.17%
Maturity	[5]		Mar. 27, 2026
Interest Rate Floor / Base Rate	[5],[7]		4.42%
Basis Point Spread Above Index	[5],[7]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Banking, Finance, Insurance & Real Estate [Member] | First Lien - Term Loan [Member] | Investments made in the United Kingdom [Member] | HIG Finance 2 Limited [Member]
Amortized Cost (in Dollars)	[5]		$ 1,474
Par Amount (in Dollars)	[5]		$ 1,474
% of Net Assets	[5]		2.90%
Fair Value (in Dollars)	[5]		$ 1,438
Interest Rate	[5]		7.69%
Maturity	[5]		Nov. 12, 2027
Interest Rate Floor / Base Rate	[5]		4.44%
Basis Point Spread Above Index	[5]		3.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Capital Equipment [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 5,360
% of Net Assets	[5],[6]		9.80%
Fair Value (in Dollars)	[5]		$ 4,830
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | American Trailer World Corp.[Member]
Amortized Cost (in Dollars)	[5]		673
Par Amount (in Dollars)	[5]		$ 679
% of Net Assets	[5],[6]		1.20%
Fair Value (in Dollars)	[5]		$ 590
Interest Rate	[5],[7]		8.17%
Maturity	[5]		Mar. 03, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		3.85%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DS Parent, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 924
Par Amount (in Dollars)	[5]		$ 950
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 908
Interest Rate	[5],[7]		9.92%
Maturity	[5]		Dec. 10, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.17%
Basis Point Spread Above Index	[5],[7]		5.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Energy Acquisition LP [Member]
Amortized Cost (in Dollars)	[5]		$ 1,147
Par Amount (in Dollars)	[5]		$ 1,159
% of Net Assets	[5],[6]		2.10%
Fair Value (in Dollars)	[5]		$ 1,044
Interest Rate	[5],[7]		8.63%
Maturity	[5]		Jun. 26, 2025
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Novae LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 1,931
Par Amount (in Dollars)	[5]		$ 1,987
% of Net Assets	[5],[6]		3.30%
Fair Value (in Dollars)	[5]		$ 1,640
Interest Rate	[5],[7]		9.95%
Maturity	[5]		Dec. 22, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.70%
Basis Point Spread Above Index	[5],[7]		5.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Capital Equipment [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DMT Solutions Global Corporation [Member]
Amortized Cost (in Dollars)	[5]		$ 685
Par Amount (in Dollars)	[5]		$ 684
% of Net Assets	[5],[6]		1.40%
Fair Value (in Dollars)	[5]		$ 648
Interest Rate	[5],[7]		11.24%
Maturity	[5]		Jul. 02, 2024
Interest Rate Floor / Base Rate	[5],[7]		3.74%
Basis Point Spread Above Index	[5],[7]		7.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 2,918
% of Net Assets	[5],[6]		5.50%
Fair Value (in Dollars)	[5]		$ 2,780
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Albaugh, LLC [Member]
Amortized Cost (in Dollars)	[5]		205
Par Amount (in Dollars)	[5]		$ 207
% of Net Assets	[5],[6]		0.40%
Fair Value (in Dollars)	[5]		$ 205
Interest Rate	[5],[7]		7.59%
Maturity	[5]		Apr. 06, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.09%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Bakelite UK Intermediate Ltd. [Member]
Amortized Cost (in Dollars)	[5]		$ 990
Par Amount (in Dollars)	[5]		$ 995
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 931
Interest Rate	[5],[7]		8.73%
Maturity	[5]		May 29, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.58%
Basis Point Spread Above Index	[5],[7]		4.15%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DCG Acquisition Corp. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,230
Par Amount (in Dollars)	[5]		$ 1,228
% of Net Assets	[5],[6]		2.30%
Fair Value (in Dollars)	[5]		$ 1,161
Interest Rate	[5],[7]		8.92%
Maturity	[5]		Sep. 30, 2026
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		4.60%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Chemicals, Plastics, & Rubber [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sparta U.S. Holdco LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 493
Par Amount (in Dollars)	[5]		$ 495
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 483
Interest Rate	[5],[7]		7.39%
Maturity	[5]		Aug. 02, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.14%
Basis Point Spread Above Index	[5],[7]		3.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Construction & Building [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 3,077
% of Net Assets	[5],[6]		6.00%
Fair Value (in Dollars)	[5]		$ 3,042
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Janus International Group, LLC [Member]
Amortized Cost (in Dollars)	[5]		887
Par Amount (in Dollars)	[5]		$ 885
% of Net Assets	[5],[6]		1.70%
Fair Value (in Dollars)	[5]		$ 860
Interest Rate	[5],[7]		7.98%
Maturity	[5]		Feb. 12, 2025
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		3.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Smyrna Ready Mix Concrete, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 1,209
Par Amount (in Dollars)	[5]		$ 1,244
% of Net Assets	[5],[6]		2.40%
Fair Value (in Dollars)	[5]		$ 1,222
Interest Rate	[5],[7]		8.67%
Maturity	[5]		Apr. 02, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		4.35%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Construction & Building [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Michael Baker International, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 981
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 960
Interest Rate	[5],[7]		9.38%
Maturity	[5]		Dec. 01, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		5.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 3,063
% of Net Assets	[5],[6]		5.30%
Fair Value (in Dollars)	[5]		$ 2,669
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Hunter Douglas Holding B.V. [Member]
Amortized Cost (in Dollars)	[5]		991
Par Amount (in Dollars)	[5]		$ 995
% of Net Assets	[5],[6]		1.70%
Fair Value (in Dollars)	[5]		$ 880
Interest Rate	[5],[7]		7.86%
Maturity	[5]		Feb. 26, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.36%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LHS Borrower, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 654
Par Amount (in Dollars)	[5]		$ 660
% of Net Assets	[5],[6]		1.10%
Fair Value (in Dollars)	[5]		$ 542
Interest Rate	[5],[7]		9.17%
Maturity	[5]		Feb. 16, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.32%
Basis Point Spread Above Index	[5],[7]		4.85%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Mannington Mills, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 431
Par Amount (in Dollars)	[5]		$ 431
% of Net Assets	[5],[6]		0.70%
Fair Value (in Dollars)	[5]		$ 351
Interest Rate	[5],[7]		8.48%
Maturity	[5]		Aug. 06, 2026
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Pelican Products, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 987
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 896
Interest Rate	[5],[7]		8.42%
Maturity	[5]		Dec. 29, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.17%
Basis Point Spread Above Index	[5],[7]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 4,600
% of Net Assets	[5],[6]		8.90%
Fair Value (in Dollars)	[5]		$ 4,515
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | Investments made in Luxembourg [Member]
Amortized Cost (in Dollars)	[5]		$ 14
% of Net Assets	[5]		0.00%
Fair Value (in Dollars)	[5]		$ 13
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Canister International Group Inc. [Member]
Amortized Cost (in Dollars)	[5]		487
Par Amount (in Dollars)	[5]		$ 489
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 486
Interest Rate	[5],[7]		9.13%
Maturity	[5]		Dec. 21, 2026
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Pactiv Evergreen Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 964
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 978
Interest Rate	[5],[7]		7.63%
Maturity	[5]		Sep. 22, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		3.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Plaze, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 654
Par Amount (in Dollars)	[5]		$ 661
% of Net Assets	[5],[6]		1.20%
Fair Value (in Dollars)	[5]		$ 593
Interest Rate	[5],[7]		8.13%
Maturity	[5]		Aug. 03, 2026
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabert Corporation [Member]
Amortized Cost (in Dollars)	[5]		$ 1,037
Par Amount (in Dollars)	[5]		$ 1,038
% of Net Assets	[5],[6]		2.00%
Fair Value (in Dollars)	[5]		$ 1,033
Interest Rate	[5],[7]		8.94%
Maturity	[5]		Dec. 10, 2026
Interest Rate Floor / Base Rate	[5],[7]		4.44%
Basis Point Spread Above Index	[5],[7]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Clydesdale Acquisition Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,458
Par Amount (in Dollars)	[5]		$ 1,493
% of Net Assets	[5],[6]		2.80%
Fair Value (in Dollars)	[5]		$ 1,425
Interest Rate	[5],[7]		8.60%
Maturity	[5]		Apr. 13, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.42%
Basis Point Spread Above Index	[5],[7]		4.18%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Containers, Packaging & Glass [Member] | First Lien - Term Loan [Member] | Investments made in Luxembourg [Member] | Mar Bidco S.a r.l. [Member]
Amortized Cost (in Dollars)	[5]		$ 14
Par Amount (in Dollars)	[5]		$ 14
% of Net Assets	[5]		0.00%
Fair Value (in Dollars)	[5]		$ 13
Interest Rate	[5]		9.03%
Maturity	[5]		Jul. 07, 2028
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		4.30%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Electricity [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 1,815
% of Net Assets	[5],[6]		3.50%
Fair Value (in Dollars)	[5]		$ 1,814
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Electricity [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Astoria Energy LLC [Member]
Amortized Cost (in Dollars)	[5]		956
Par Amount (in Dollars)	[5]		$ 960
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 949
Interest Rate	[5],[7]		7.89%
Maturity	[5]		Dec. 10, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.39%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Electricity [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Hamilton Projects Acquiror, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 859
Par Amount (in Dollars)	[5]		$ 877
% of Net Assets	[5],[6]		1.70%
Fair Value (in Dollars)	[5]		$ 865
Interest Rate	[5],[7]		9.23%
Maturity	[5]		Jun. 17, 2027
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 3,285
% of Net Assets	[5],[6]		6.50%
Fair Value (in Dollars)	[5]		$ 3,273
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | AL NGPL Holdings, LLC [Member]
Amortized Cost (in Dollars)	[5]		687
Par Amount (in Dollars)	[5]		$ 683
% of Net Assets	[5],[6]		1.30%
Fair Value (in Dollars)	[5]		$ 676
Interest Rate	[5],[7]		7.53%
Maturity	[5]		Apr. 14, 2028
Interest Rate Floor / Base Rate	[5],[7]		3.78%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CQP Holdco LP [Member]
Amortized Cost (in Dollars)	[5]		$ 1,227
Par Amount (in Dollars)	[5]		$ 1,231
% of Net Assets	[5],[6]		2.40%
Fair Value (in Dollars)	[5]		$ 1,227
Interest Rate	[5],[7]		8.48%
Maturity	[5]		Jun. 05, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Delek US Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 879
Par Amount (in Dollars)	[5]		$ 915
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 883
Interest Rate	[5],[7]		7.92%
Maturity	[5]		Nov. 19, 2029
Interest Rate Floor / Base Rate	[5],[7]		4.42%
Basis Point Spread Above Index	[5],[7]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Energy: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Prairie ECI Acquiror LP [Member]
Amortized Cost (in Dollars)	[5]		$ 492
Par Amount (in Dollars)	[5]		$ 500
% of Net Assets	[5],[6]		1.00%
Fair Value (in Dollars)	[5]		$ 487
Interest Rate	[5],[7]		9.13%
Maturity	[5]		Mar. 11, 2026
Interest Rate Floor / Base Rate	[5],[7]		4.38%
Basis Point Spread Above Index	[5],[7]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Forest Products & Paper [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 977
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 931
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Forest Products & Paper [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Schweitzer-Mauduit International, Inc. [Member]
Amortized Cost (in Dollars)	[5]		977
Par Amount (in Dollars)	[5]		$ 985
% of Net Assets	[5],[6]		1.80%
Fair Value (in Dollars)	[5]		$ 931
Interest Rate	[5],[7]		8.19%
Maturity	[5]		Apr. 20, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.44%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 19,503
% of Net Assets	[5]		36.10%
Fair Value (in Dollars)	[5]		$ 18,248
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Alvogen Pharma US, Inc. [Member]
Amortized Cost (in Dollars)	[5]		925
Par Amount (in Dollars)	[5]		$ 925
% of Net Assets	[5]		1.60%
Fair Value (in Dollars)	[5]		$ 811
Interest Rate	[5]		9.98%
Maturity	[5]		Dec. 31, 2023
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		5.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Amneal Pharmaceuticals [Member]
Amortized Cost (in Dollars)	[5]		$ 916
Par Amount (in Dollars)	[5]		$ 997
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 897
Interest Rate	[5]		7.94%
Maturity	[5]		May 04, 2025
Interest Rate Floor / Base Rate	[5]		4.44%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ANI Pharmaceuticals, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 979
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 941
Interest Rate	[5]		10.38%
Maturity	[5]		Nov. 19, 2027
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		6.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ASP Navigate Acquisition Corp. [Member]
Amortized Cost (in Dollars)	[5]		$ 987
Par Amount (in Dollars)	[5]		$ 987
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 964
Interest Rate	[5]		9.09%
Maturity	[5]		Oct. 06, 2027
Interest Rate Floor / Base Rate	[5]		4.59%
Basis Point Spread Above Index	[5]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Athletico Management, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 241
Par Amount (in Dollars)	[5]		$ 249
% of Net Assets	[5]		0.40%
Fair Value (in Dollars)	[5]		$ 204
Interest Rate	[5]		8.98%
Maturity	[5]		Feb. 15, 2029
Interest Rate Floor / Base Rate	[5]		4.58%
Basis Point Spread Above Index	[5]		4.40%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Aveanna Healthcare LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 428
Par Amount (in Dollars)	[5]		$ 429
% of Net Assets	[5]		0.70%
Fair Value (in Dollars)	[5]		$ 332
Interest Rate	[5]		8.14%
Maturity	[5]		Jul. 17, 2028
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Bayou Intermediate II, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 986
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 955
Interest Rate	[5]		8.96%
Maturity	[5]		Aug. 02, 2028
Interest Rate Floor / Base Rate	[5]		4.46%
Basis Point Spread Above Index	[5]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Carestream Dental Technology Parent Limited [Member]
Amortized Cost (in Dollars)	[5]		$ 875
Par Amount (in Dollars)	[5]		$ 888
% of Net Assets	[5]		1.60%
Fair Value (in Dollars)	[5]		$ 831
Interest Rate	[5]		8.88%
Maturity	[5]		Sep. 02, 2024
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CCRR Parent, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 978
Par Amount (in Dollars)	[5]		$ 983
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 937
Interest Rate	[5]		8.14%
Maturity	[5]		Mar. 06, 2028
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | FC Compassus, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 1,226
Par Amount (in Dollars)	[5]		$ 1,227
% of Net Assets	[5]		2.30%
Fair Value (in Dollars)	[5]		$ 1,136
Interest Rate	[5]		8.98%
Maturity	[5]		Dec. 31, 2026
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Global Medical Response, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 484
Par Amount (in Dollars)	[5]		$ 490
% of Net Assets	[5]		0.70%
Fair Value (in Dollars)	[5]		$ 346
Interest Rate	[5]		8.42%
Maturity	[5]		Oct. 02, 2025
Interest Rate Floor / Base Rate	[5]		4.17%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Golden State Buyer, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 942
Par Amount (in Dollars)	[5]		$ 948
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 906
Interest Rate	[5]		8.92%
Maturity	[5]		Jun. 21, 2026
Interest Rate Floor / Base Rate	[5]		4.17%
Basis Point Spread Above Index	[5]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Help at Home, LLC Two [Member]
Amortized Cost (in Dollars)	[5]		$ 990
Par Amount (in Dollars)	[5]		$ 1,006
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 962
Interest Rate	[5]		9.43%
Maturity	[5]		Oct. 29, 2027
Interest Rate Floor / Base Rate	[5]		4.43%
Basis Point Spread Above Index	[5]		5.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Onex TSG Intermediate Corp. [Member]
Amortized Cost (in Dollars)	[5]		$ 970
Par Amount (in Dollars)	[5]		$ 985
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 882
Interest Rate	[5]		9.16%
Maturity	[5]		Feb. 28, 2028
Interest Rate Floor / Base Rate	[5]		4.41%
Basis Point Spread Above Index	[5]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | PDS Holdco Inc. Two [Member]
Amortized Cost (in Dollars)	[5]		$ 1,342
Par Amount (in Dollars)	[5]		$ 1,347
% of Net Assets	[5]		2.50%
Fair Value (in Dollars)	[5]		$ 1,239
Interest Rate	[5]		9.23%
Maturity	[5]		Aug. 18, 2028
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | TTF Holdings, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 631
Par Amount (in Dollars)	[5]		$ 635
% of Net Assets	[5]		1.10%
Fair Value (in Dollars)	[5]		$ 628
Interest Rate	[5]		8.44%
Maturity	[5]		Mar. 31, 2028
Interest Rate Floor / Base Rate	[5]		4.44%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | U.S. Anesthesia Partners, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,095
Par Amount (in Dollars)	[5]		$ 1,100
% of Net Assets	[5]		2.10%
Fair Value (in Dollars)	[5]		$ 1,049
Interest Rate	[5]		8.37%
Maturity	[5]		Oct. 02, 2028
Interest Rate Floor / Base Rate	[5]		4.12%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.) [Member]
Amortized Cost (in Dollars)	[5]		$ 984
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 896
Interest Rate	[5]		9.63%
Maturity	[5]		Dec. 15, 2027
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		5.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Zotec Partners, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 968
Par Amount (in Dollars)	[5]		$ 1,001
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 951
Interest Rate	[5]		8.48%
Maturity	[5]		Feb. 14, 2024
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Zelis Cost Management Buyer, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 417
Par Amount (in Dollars)	[5]		$ 420
% of Net Assets	[5]		0.80%
Fair Value (in Dollars)	[5]		$ 416
Interest Rate	[5]		7.88%
Maturity	[5]		Sep. 30, 2026
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Confluent Health, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 780
Par Amount (in Dollars)	[5]		$ 783
% of Net Assets	[5]		1.30%
Fair Value (in Dollars)	[5]		$ 670
Interest Rate	[5]		8.38%
Maturity	[5]		Nov. 30, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Revspring, Inc. (fka Dantom Systems, Inc.) [Member]
Amortized Cost (in Dollars)	[5]		$ 1,000
Par Amount (in Dollars)	[5]		$ 1,006
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 974
Interest Rate	[5]		8.73%
Maturity	[5]		Oct. 11, 2025
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Delayed Draw Loan [Member] | Investments made in the United States [Member] | Confluent Health, LLC Two [Member]
Amortized Cost (in Dollars)	[5],[8]		$ 96
Par Amount (in Dollars)	[5],[8]		$ 170
% of Net Assets	[5],[8]		0.10%
Fair Value (in Dollars)	[5],[8]		$ 72
Interest Rate	[5],[8]		8.38%
Maturity	[5],[8]		Nov. 30, 2028
Interest Rate Floor / Base Rate	[5],[8]		4.38%
Basis Point Spread Above Index	[5],[8]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Delayed Draw Loan [Member] | Investments made in the United States [Member] | Help at Home, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 125
Par Amount (in Dollars)	[5]		$ 127
% of Net Assets	[5]		0.20%
Fair Value (in Dollars)	[5]		$ 122
Interest Rate	[5]		9.43%
Maturity	[5]		Oct. 29, 2027
Interest Rate Floor / Base Rate	[5]		4.43%
Basis Point Spread Above Index	[5]		5.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Healthcare & Pharmaceuticals [Member] | First Lien - Delayed Draw Loan [Member] | Investments made in the United States [Member] | PDS Holdco Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 138
Par Amount (in Dollars)	[5]		$ 138
% of Net Assets	[5]		0.30%
Fair Value (in Dollars)	[5]		$ 127
Interest Rate	[5]		9.23%
Maturity	[5]		Aug. 18, 2028
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		4.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 12,126
% of Net Assets	[5]		21.80%
Fair Value (in Dollars)	[5]		$ 10,948
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Casa Systems, Inc. [Member]
Amortized Cost (in Dollars)	[5]		1,479
Par Amount (in Dollars)	[5]		$ 1,479
% of Net Assets	[5]		2.60%
Fair Value (in Dollars)	[5]		$ 1,318
Interest Rate	[5]		8.38%
Maturity	[5]		Dec. 20, 2023
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CE Intermediate I, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 984
Par Amount (in Dollars)	[5]		$ 993
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 948
Interest Rate	[5]		8.59%
Maturity	[5]		Nov. 10, 2028
Interest Rate Floor / Base Rate	[5]		4.59%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Ingram Micro Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 977
Par Amount (in Dollars)	[5]		$ 985
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 973
Interest Rate	[5]		8.23%
Maturity	[5]		Jun. 30, 2028
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LogMeIn, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 963
Par Amount (in Dollars)	[5]		$ 980
% of Net Assets	[5]		1.30%
Fair Value (in Dollars)	[5]		$ 635
Interest Rate	[5]		9.14%
Maturity	[5]		Aug. 31, 2027
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Monotype Imaging Holdings Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 721
Par Amount (in Dollars)	[5]		$ 724
% of Net Assets	[5]		1.40%
Fair Value (in Dollars)	[5]		$ 713
Interest Rate	[5]		9.68%
Maturity	[5]		Oct. 09, 2026
Interest Rate Floor / Base Rate	[5]		4.68%
Basis Point Spread Above Index	[5]		5.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Quest Software US Holdings Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,483
Par Amount (in Dollars)	[5]		$ 1,496
% of Net Assets	[5]		2.30%
Fair Value (in Dollars)	[5]		$ 1,158
Interest Rate	[5]		8.49%
Maturity	[5]		Feb. 01, 2029
Interest Rate Floor / Base Rate	[5]		4.09%
Basis Point Spread Above Index	[5]		4.40%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Rocket Software, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 106
Par Amount (in Dollars)	[5]		$ 108
% of Net Assets	[5]		0.20%
Fair Value (in Dollars)	[5]		$ 104
Interest Rate	[5]		8.63%
Maturity	[5]		Nov. 28, 2025
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | VeriFone Systems, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,372
Par Amount (in Dollars)	[5]		$ 1,384
% of Net Assets	[5]		2.50%
Fair Value (in Dollars)	[5]		$ 1,276
Interest Rate	[5]		8.36%
Maturity	[5]		Aug. 20, 2025
Interest Rate Floor / Base Rate	[5]		4.36%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Vision Solutions, Inc. (Precisely Software Incorporated) [Member]
Amortized Cost (in Dollars)	[5]		$ 984
Par Amount (in Dollars)	[5]		$ 986
% of Net Assets	[5]		1.60%
Fair Value (in Dollars)	[5]		$ 820
Interest Rate	[5]		8.36%
Maturity	[5]		Apr. 24, 2028
Interest Rate Floor / Base Rate	[5]		4.36%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Watlow Electric Manufacturing Company [Member]
Amortized Cost (in Dollars)	[5]		$ 343
Par Amount (in Dollars)	[5]		$ 344
% of Net Assets	[5]		0.70%
Fair Value (in Dollars)	[5]		$ 332
Interest Rate	[5]		8.15%
Maturity	[5]		Mar. 02, 2028
Interest Rate Floor / Base Rate	[5]		4.40%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Boxer Parent Company Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 157
Par Amount (in Dollars)	[5]		$ 165
% of Net Assets	[5]		0.40%
Fair Value (in Dollars)	[5]		$ 158
Interest Rate	[5]		8.13%
Maturity	[5]		Oct. 02, 2025
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ConnectWise, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 986
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 943
Interest Rate	[5]		7.88%
Maturity	[5]		Sep. 29, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Rocket Software, Inc. One [Member]
Amortized Cost (in Dollars)	[5]		$ 378
Par Amount (in Dollars)	[5]		$ 381
% of Net Assets	[5]		0.70%
Fair Value (in Dollars)	[5]		$ 367
Interest Rate	[5]		8.63%
Maturity	[5]		Nov. 28, 2025
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | High Tech Industries [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Seattle SpinCo, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,193
Par Amount (in Dollars)	[5]		$ 1,203
% of Net Assets	[5]		2.40%
Fair Value (in Dollars)	[5]		$ 1,203
Interest Rate	[5]		8.42%
Maturity	[5]		Feb. 26, 2027
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		4.10%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 4,694
% of Net Assets	[5]		9.00%
Fair Value (in Dollars)	[5]		$ 4,531
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | Investments made in the Netherlands [Member]
Amortized Cost (in Dollars)	[5]		$ 965
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 977
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Arcis Golf LLC [Member]
Amortized Cost (in Dollars)	[5]		984
Par Amount (in Dollars)	[5]		$ 993
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 973
Interest Rate	[5]		8.63%
Maturity	[5]		Nov. 24, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ClubCorp Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 484
Par Amount (in Dollars)	[5]		$ 497
% of Net Assets	[5]		0.90%
Fair Value (in Dollars)	[5]		$ 450
Interest Rate	[5]		7.48%
Maturity	[5]		Sep. 18, 2024
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		2.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Fertitta Entertainment, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 990
Par Amount (in Dollars)	[5]		$ 993
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 945
Interest Rate	[5]		8.32%
Maturity	[5]		Jan. 29, 2029
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Herschend Entertainment Company, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 197
Par Amount (in Dollars)	[5]		$ 199
% of Net Assets	[5]		0.40%
Fair Value (in Dollars)	[5]		$ 197
Interest Rate	[5]		8.19%
Maturity	[5]		Aug. 28, 2028
Interest Rate Floor / Base Rate	[5]		4.44%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabre GLBL Inc.[Member]
Amortized Cost (in Dollars)	[5]		$ 274
Par Amount (in Dollars)	[5]		$ 274
% of Net Assets	[5]		0.50%
Fair Value (in Dollars)	[5]		$ 251
Interest Rate	[5]		7.88%
Maturity	[5]		Dec. 17, 2027
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabre GLBL Inc. Two [Member]
Amortized Cost (in Dollars)	[5]		$ 437
Par Amount (in Dollars)	[5]		$ 438
% of Net Assets	[5]		0.80%
Fair Value (in Dollars)	[5]		$ 400
Interest Rate	[5]		7.88%
Maturity	[5]		Dec. 17, 2027
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sabre GLBL Inc one [Member]
Amortized Cost (in Dollars)	[5]		$ 340
Par Amount (in Dollars)	[5]		$ 357
% of Net Assets	[5]		0.70%
Fair Value (in Dollars)	[5]		$ 331
Interest Rate	[5]		9.42%
Maturity	[5]		Jun. 30, 2028
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		5.10%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Scientific Games International, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 988
Par Amount (in Dollars)	[5]		$ 995
% of Net Assets	[5]		2.00%
Fair Value (in Dollars)	[5]		$ 984
Interest Rate	[5]		7.42%
Maturity	[5]		Apr. 16, 2029
Interest Rate Floor / Base Rate	[5]		4.42%
Basis Point Spread Above Index	[5]		3.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Hotel, Gaming & Leisure [Member] | First Lien - Term Loan [Member] | Investments made in the Netherlands [Member] | Playa Resorts Holding B.V. [Member]
Amortized Cost (in Dollars)	[5]		$ 965
Par Amount (in Dollars)	[5]		$ 1,000
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 977
Interest Rate	[5]		8.58%
Maturity	[5]		Jan. 05, 2029
Interest Rate Floor / Base Rate	[5]		4.33%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Media: Advertising, Printing & Publishing [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 2,031
% of Net Assets	[5]		3.90%
Fair Value (in Dollars)	[5]		$ 1,949
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Media: Advertising, Printing & Publishing [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Oceankey (U.S.) II Corp. [Member]
Amortized Cost (in Dollars)	[5]		984
Par Amount (in Dollars)	[5]		$ 993
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 911
Interest Rate	[5]		7.88%
Maturity	[5]		Dec. 15, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Media: Advertising, Printing & Publishing [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Thryv, Inc.[Member]
Amortized Cost (in Dollars)	[5]		$ 1,047
Par Amount (in Dollars)	[5]		$ 1,051
% of Net Assets	[5]		2.10%
Fair Value (in Dollars)	[5]		$ 1,038
Interest Rate	[5]		12.88%
Maturity	[5]		Mar. 01, 2026
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		8.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Media: Broadcasting & Subscription [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 1,227
% of Net Assets	[5]		2.30%
Fair Value (in Dollars)	[5]		$ 1,208
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Media: Broadcasting & Subscription [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | LCPR Loan Financing LLC [Member]
Amortized Cost (in Dollars)	[5]		501
Par Amount (in Dollars)	[5]		$ 500
% of Net Assets	[5]		1.00%
Fair Value (in Dollars)	[5]		$ 497
Interest Rate	[5]		8.07%
Maturity	[5]		Oct. 16, 2028
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Media: Broadcasting & Subscription [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sinclair Television Group, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 726
Par Amount (in Dollars)	[5]		$ 746
% of Net Assets	[5]		1.30%
Fair Value (in Dollars)	[5]		$ 711
Interest Rate	[5]		8.17%
Maturity	[5]		Apr. 21, 2029
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		3.85%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Retail [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 3,858
% of Net Assets	[5]		7.40%
Fair Value (in Dollars)	[5]		$ 3,726
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Apro, LLC [Member]
Amortized Cost (in Dollars)	[5]		1,319
Par Amount (in Dollars)	[5]		$ 1,326
% of Net Assets	[5]		2.60%
Fair Value (in Dollars)	[5]		$ 1,292
Interest Rate	[5]		7.92%
Maturity	[5]		Nov. 14, 2026
Interest Rate Floor / Base Rate	[5]		4.17%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Great Outdoors Group, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 976
Par Amount (in Dollars)	[5]		$ 980
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 944
Interest Rate	[5]		8.13%
Maturity	[5]		Mar. 06, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Rent-A-Center, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 581
Par Amount (in Dollars)	[5]		$ 581
% of Net Assets	[5]		1.10%
Fair Value (in Dollars)	[5]		$ 562
Interest Rate	[5]		7.69%
Maturity	[5]		Feb. 17, 2028
Interest Rate Floor / Base Rate	[5]		4.44%
Basis Point Spread Above Index	[5]		3.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Retail [Member] | First Lien - Delayed Draw Loan [Member] | Investments made in the United States [Member] | EG Group Limited [Member]
Amortized Cost (in Dollars)	[5]		$ 982
Par Amount (in Dollars)	[5]		$ 988
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 928
Interest Rate	[5]		8.98%
Maturity	[5]		Mar. 31, 2026
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 16,848
% of Net Assets	[5]		29.90%
Fair Value (in Dollars)	[5]		$ 15,039
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Ahead DB Holdings, LLC [Member]
Amortized Cost (in Dollars)	[5]		985
Par Amount (in Dollars)	[5]		$ 985
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 954
Interest Rate	[5]		8.48%
Maturity	[5]		Oct. 18, 2027
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Artera Services, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 980
Par Amount (in Dollars)	[5]		$ 985
% of Net Assets	[5]		1.60%
Fair Value (in Dollars)	[5]		$ 810
Interest Rate	[5]		8.23%
Maturity	[5]		Mar. 06, 2025
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Congruex Group LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 972
Par Amount (in Dollars)	[5]		$ 995
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 970
Interest Rate	[5]		9.99%
Maturity	[5]		May 03, 2029
Interest Rate Floor / Base Rate	[5]		4.24%
Basis Point Spread Above Index	[5]		5.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | DTI Holdco, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,224
Par Amount (in Dollars)	[5]		$ 1,247
% of Net Assets	[5]		2.30%
Fair Value (in Dollars)	[5]		$ 1,152
Interest Rate	[5]		8.84%
Maturity	[5]		Apr. 26, 2029
Interest Rate Floor / Base Rate	[5]		4.09%
Basis Point Spread Above Index	[5]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Energize Holdco LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 867
Par Amount (in Dollars)	[5]		$ 871
% of Net Assets	[5]		1.70%
Fair Value (in Dollars)	[5]		$ 835
Interest Rate	[5]		8.13%
Maturity	[5]		Dec. 08, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Indy US Bidco, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 489
Par Amount (in Dollars)	[5]		$ 491
% of Net Assets	[5]		0.90%
Fair Value (in Dollars)	[5]		$ 429
Interest Rate	[5]		8.13%
Maturity	[5]		Mar. 06, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Mermaid Bidco Inc. (Datasite) [Member]
Amortized Cost (in Dollars)	[5]		$ 983
Par Amount (in Dollars)	[5]		$ 986
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 939
Interest Rate	[5]		7.96%
Maturity	[5]		Dec. 22, 2027
Interest Rate Floor / Base Rate	[5]		4.46%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Pitney Bowes Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 975
Par Amount (in Dollars)	[5]		$ 983
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 908
Interest Rate	[5]		8.43%
Maturity	[5]		Mar. 17, 2028
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		4.11%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Presidio Holdings Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 995
Par Amount (in Dollars)	[5]		$ 995
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 981
Interest Rate	[5]		7.89%
Maturity	[5]		Jan. 22, 2027
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Sitel Group [Member]
Amortized Cost (in Dollars)	[5]		$ 1,475
Par Amount (in Dollars)	[5]		$ 1,481
% of Net Assets	[5]		2.90%
Fair Value (in Dollars)	[5]		$ 1,466
Interest Rate	[5]		8.14%
Maturity	[5]		Aug. 28, 2028
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Skopima Consilio Parent LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 982
Par Amount (in Dollars)	[5]		$ 988
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 937
Interest Rate	[5]		8.38%
Maturity	[5]		May 12, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Tempo Acquisition, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 985
Par Amount (in Dollars)	[5]		$ 988
% of Net Assets	[5]		2.00%
Fair Value (in Dollars)	[5]		$ 986
Interest Rate	[5]		7.32%
Maturity	[5]		Aug. 31, 2028
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		3.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | UST Global Inc [Member]
Amortized Cost (in Dollars)	[5]		$ 986
Par Amount (in Dollars)	[5]		$ 990
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 973
Interest Rate	[5]		8.14%
Maturity	[5]		Nov. 20, 2028
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | VM Consolidated, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 2
Par Amount (in Dollars)	[5]		$ 2
% of Net Assets	[5]		0.00%
Fair Value (in Dollars)	[5]		$ 2
Interest Rate	[5]		7.63%
Maturity	[5]		Mar. 26, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Access CIG, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 1,345
Par Amount (in Dollars)	[5]		$ 1,352
% of Net Assets	[5]		2.60%
Fair Value (in Dollars)	[5]		$ 1,327
Interest Rate	[5]		7.82%
Maturity	[5]		Feb. 27, 2025
Interest Rate Floor / Base Rate	[5]		4.07%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Misys Limited [Member]
Amortized Cost (in Dollars)	[5]		$ 990
Par Amount (in Dollars)	[5]		$ 989
% of Net Assets	[5]		1.70%
Fair Value (in Dollars)	[5]		$ 877
Interest Rate	[5]		6.87%
Maturity	[5]		Jun. 13, 2024
Interest Rate Floor / Base Rate	[5]		3.37%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Phoenix Services International LLC Two [Member]
Amortized Cost (in Dollars)	[5],[9]		$ 1,242
Par Amount (in Dollars)	[5],[9]		$ 1,246
% of Net Assets	[5],[9]		0.30%
Fair Value (in Dollars)	[5],[9]		$ 135
Interest Rate	[5],[9]
Maturity	[5],[9]		Mar. 01, 2025
Interest Rate Floor / Base Rate	[5],[9]
Basis Point Spread Above Index	[5],[9]
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan DIP [Member] | Investments made in the United States [Member] | Phoenix Services International LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 149
Par Amount (in Dollars)	[5]		$ 149
% of Net Assets	[5]		0.30%
Fair Value (in Dollars)	[5]		$ 144
Interest Rate	[5]		16.32%
Maturity	[5]		Mar. 28, 2023
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		12.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Business [Member] | First Lien - Term Loan DIP [Member] | Investments made in the United States [Member] | Phoenix Services International LLC One [Member]
Amortized Cost (in Dollars)	[5]		$ 222
Par Amount (in Dollars)	[5]		$ 222
% of Net Assets	[5]		0.40%
Fair Value (in Dollars)	[5]		$ 214
Interest Rate	[5]		16.32%
Maturity	[5]		Mar. 28, 2023
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		12.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Consumer [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 941
% of Net Assets	[5]		1.10%
Fair Value (in Dollars)	[5]		$ 546
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Consumer [Member] | Investments made in Ireland [Member]
Amortized Cost (in Dollars)	[5]		$ 977
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 889
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | WW International, Inc. [Member]
Amortized Cost (in Dollars)	[5]		941
Par Amount (in Dollars)	[5]		$ 945
% of Net Assets	[5]		1.10%
Fair Value (in Dollars)	[5]		$ 546
Interest Rate	[5]		7.89%
Maturity	[5]		Apr. 13, 2028
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Services: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in Ireland [Member] | Cimpress plc [Member]
Amortized Cost (in Dollars)	[5]		$ 977
Par Amount (in Dollars)	[5]		$ 985
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 889
Interest Rate	[5]		7.88%
Maturity	[5]		May 17, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 8,643
% of Net Assets	[5]		13.90%
Fair Value (in Dollars)	[5]		$ 7,014
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | Investments made in Luxembourg [Member]
Amortized Cost (in Dollars)	[5]		$ 2,447
% of Net Assets	[5]		4.60%
Fair Value (in Dollars)	[5]		$ 2,346
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | CCI Buyer, Inc. [Member]
Amortized Cost (in Dollars)	[5]		975
Par Amount (in Dollars)	[5]		$ 983
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 941
Interest Rate	[5]		8.58%
Maturity	[5]		Dec. 17, 2027
Interest Rate Floor / Base Rate	[5]		4.58%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | ConvergeOne Holdings, Corp. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,454
Par Amount (in Dollars)	[5]		$ 1,473
% of Net Assets	[5]		1.70%
Fair Value (in Dollars)	[5]		$ 863
Interest Rate	[5]		9.38%
Maturity	[5]		Jan. 04, 2026
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		5.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Digi International Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 753
Par Amount (in Dollars)	[5]		$ 766
% of Net Assets	[5]		1.50%
Fair Value (in Dollars)	[5]		$ 760
Interest Rate	[5]		9.38%
Maturity	[5]		Nov. 01, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		5.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Mavenir Systems, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,299
Par Amount (in Dollars)	[5]		$ 1,310
% of Net Assets	[5]		2.10%
Fair Value (in Dollars)	[5]		$ 1,069
Interest Rate	[5]		9.42%
Maturity	[5]		Aug. 18, 2028
Interest Rate Floor / Base Rate	[5]		4.67%
Basis Point Spread Above Index	[5]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Syniverse Holdings, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 962
Par Amount (in Dollars)	[5]		$ 998
% of Net Assets	[5]		1.70%
Fair Value (in Dollars)	[5]		$ 875
Interest Rate	[5]		11.58%
Maturity	[5]		May 13, 2027
Interest Rate Floor / Base Rate	[5]		4.58%
Basis Point Spread Above Index	[5]		7.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Zayo Group Holdings, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 996
Par Amount (in Dollars)	[5]		$ 1,000
% of Net Assets	[5]		1.60%
Fair Value (in Dollars)	[5]		$ 815
Interest Rate	[5]		7.38%
Maturity	[5]		Mar. 09, 2027
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Avaya Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 841
Par Amount (in Dollars)	[5]		$ 850
% of Net Assets	[5]		0.60%
Fair Value (in Dollars)	[5]		$ 295
Interest Rate	[5]		8.57%
Maturity	[5]		Dec. 15, 2027
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Maxar Technologies Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 953
Par Amount (in Dollars)	[5]		$ 995
% of Net Assets	[5]		2.00%
Fair Value (in Dollars)	[5]		$ 995
Interest Rate	[5]		8.67%
Maturity	[5]		Jun. 14, 2029
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		4.35%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Patagonia Holdco LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 410
Par Amount (in Dollars)	[5]		$ 499
% of Net Assets	[5]		0.80%
Fair Value (in Dollars)	[5]		$ 401
Interest Rate	[5]		9.96%
Maturity	[5]		Aug. 01, 2029
Interest Rate Floor / Base Rate	[5]		4.21%
Basis Point Spread Above Index	[5]		5.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in Luxembourg [Member] | Venga Finance S.a r.l. [Member]
Amortized Cost (in Dollars)	[5]		$ 970
Par Amount (in Dollars)	[5]		$ 998
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 919
Interest Rate	[5]		9.48%
Maturity	[5]		Jun. 28, 2029
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		4.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Telecommunications [Member] | First Lien - Term Loan [Member] | Investments made in Luxembourg [Member] | Zacapa S.a r.l. [Member]
Amortized Cost (in Dollars)	[5]		$ 1,477
Par Amount (in Dollars)	[5]		$ 1,481
% of Net Assets	[5]		2.80%
Fair Value (in Dollars)	[5]		$ 1,427
Interest Rate	[5]		8.83%
Maturity	[5]		Mar. 22, 2029
Interest Rate Floor / Base Rate	[5]		4.58%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 4,922
% of Net Assets	[5]		9.40%
Fair Value (in Dollars)	[5]		$ 4,671
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Carriage Purchaser, Inc. [Member]
Amortized Cost (in Dollars)	[5]		983
Par Amount (in Dollars)	[5]		$ 988
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 920
Interest Rate	[5]		8.63%
Maturity	[5]		Sep. 30, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		4.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Daseke Companies, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 979
Par Amount (in Dollars)	[5]		$ 983
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 953
Interest Rate	[5]		8.39%
Maturity	[5]		Mar. 09, 2028
Interest Rate Floor / Base Rate	[5]		4.39%
Basis Point Spread Above Index	[5]		4.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Echo Global Logistics, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 990
Par Amount (in Dollars)	[5]		$ 993
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 935
Interest Rate	[5]		7.88%
Maturity	[5]		Nov. 24, 2028
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		3.50%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Kenan Advantage Group, Inc.,The [Member]
Amortized Cost (in Dollars)	[5]		$ 984
Par Amount (in Dollars)	[5]		$ 1,000
% of Net Assets	[5]		1.80%
Fair Value (in Dollars)	[5]		$ 928
Interest Rate	[5]		11.63%
Maturity	[5]		Sep. 01, 2027
Interest Rate Floor / Base Rate	[5]		4.38%
Basis Point Spread Above Index	[5]		7.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Cargo [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Stonepeak Taurus Lower Holdings LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 986
Par Amount (in Dollars)	[5]		$ 1,000
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 935
Interest Rate	[5]		11.68%
Maturity	[5]		Jan. 28, 2030
Interest Rate Floor / Base Rate	[5]		4.68%
Basis Point Spread Above Index	[5]		7.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 3,347
% of Net Assets	[5]		6.40%
Fair Value (in Dollars)	[5]		$ 3,266
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Avolon TLB Borrower 1 (US) LLC [Member]
Amortized Cost (in Dollars)	[5]		595
Par Amount (in Dollars)	[5]		$ 613
% of Net Assets	[5]		1.20%
Fair Value (in Dollars)	[5]		$ 612
Interest Rate	[5]		6.60%
Maturity	[5]		Dec. 01, 2027
Interest Rate Floor / Base Rate	[5]		4.35%
Basis Point Spread Above Index	[5]		2.25%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | First Student Bidco Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 361
Par Amount (in Dollars)	[5]		$ 362
% of Net Assets	[5]		0.70%
Fair Value (in Dollars)	[5]		$ 329
Interest Rate	[5]		7.73%
Maturity	[5]		Jul. 21, 2028
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		3.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | First Student Bidco Inc. One [Member]
Amortized Cost (in Dollars)	[5]		$ 134
Par Amount (in Dollars)	[5]		$ 135
% of Net Assets	[5]		0.20%
Fair Value (in Dollars)	[5]		$ 122
Interest Rate	[5]		7.73%
Maturity	[5]		Jul. 21, 2028
Interest Rate Floor / Base Rate	[5]		4.73%
Basis Point Spread Above Index	[5]		3.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Safe Fleet Holdings LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 635
Par Amount (in Dollars)	[5]		$ 638
% of Net Assets	[5]		1.20%
Fair Value (in Dollars)	[5]		$ 618
Interest Rate	[5]		8.17%
Maturity	[5]		Feb. 16, 2029
Interest Rate Floor / Base Rate	[5]		4.32%
Basis Point Spread Above Index	[5]		3.85%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | United AirLines, Inc. [Member]
Amortized Cost (in Dollars)	[5]		$ 978
Par Amount (in Dollars)	[5]		$ 983
% of Net Assets	[5]		1.90%
Fair Value (in Dollars)	[5]		$ 973
Interest Rate	[5]		8.11%
Maturity	[5]		Apr. 21, 2028
Interest Rate Floor / Base Rate	[5]		4.36%
Basis Point Spread Above Index	[5]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Transportation: Consumer [Member] | Second Lien - Term Loan [Member] | Investments made in the United States [Member] | Lakeland Tours, LLC [Member]
Amortized Cost (in Dollars)	[5]		$ 644
Par Amount (in Dollars)	[5]		$ 748
% of Net Assets	[5]		1.20%
Fair Value (in Dollars)	[5]		$ 612
Interest Rate	[5]		10.41%
Maturity	[5]		Sep. 25, 2025
Interest Rate Floor / Base Rate	[5]		4.41%
Basis Point Spread Above Index	[5]		6.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Utilities: Electric [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 486
% of Net Assets	[5]		1.00%
Fair Value (in Dollars)	[5]		$ 484
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Utilities: Electric [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | PG&E Corporation [Member]
Amortized Cost (in Dollars)	[5]		486
Par Amount (in Dollars)	[5]		$ 488
% of Net Assets	[5]		1.00%
Fair Value (in Dollars)	[5]		$ 484
Interest Rate	[5]		7.44%
Maturity	[5]		Jun. 23, 2025
Interest Rate Floor / Base Rate	[5]		4.44%
Basis Point Spread Above Index	[5]		3.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Total Aerospace & Defense [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 5,693
% of Net Assets	[5],[6]		10.90%
Fair Value (in Dollars)	[5]		$ 5,534
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Non-Durable [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 1,922
% of Net Assets	[5],[6]		3.50%
Fair Value (in Dollars)	[5]		$ 1,756
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Non-Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Conair Holdings LLC [Member]
Amortized Cost (in Dollars)	[5]		1,133
Par Amount (in Dollars)	[5]		$ 1,138
% of Net Assets	[5],[6]		1.90%
Fair Value (in Dollars)	[5]		$ 963
Interest Rate	[5],[7]		8.48%
Maturity	[5]		May 17, 2028
Interest Rate Floor / Base Rate	[5],[7]		4.73%
Basis Point Spread Above Index	[5],[7]		3.75%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Consumer Goods: Non-Durable [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | Men’s Wearhouse, LLC, The [Member]
Amortized Cost (in Dollars)	[5]		$ 789
Par Amount (in Dollars)	[5]		$ 793
% of Net Assets	[5],[6]		1.60%
Fair Value (in Dollars)	[5]		$ 793
Interest Rate	[5],[7]		12.40%
Maturity	[5]		Dec. 01, 2025
Interest Rate Floor / Base Rate	[5],[7]		4.40%
Basis Point Spread Above Index	[5],[7]		8.00%
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Utilities: Oil & Gas [Member] | Investments made in the United States [Member]
Amortized Cost (in Dollars)	[5]		$ 90
% of Net Assets	[5]		0.20%
Fair Value (in Dollars)	[5]		$ 89
Non-controlled/Non-Affiliate Investments -253.30% of Shareholder’s Equity [Member] | Utilities: Oil & Gas [Member] | First Lien - Term Loan [Member] | Investments made in the United States [Member] | AL GCX Holdings, LLC [Member]
Amortized Cost (in Dollars)	[5]		90
Par Amount (in Dollars)	[5]		$ 90
% of Net Assets	[5]		0.20%
Fair Value (in Dollars)	[5]		$ 89
Interest Rate	[5]		7.57%
Maturity	[5]		May 17, 2029
Interest Rate Floor / Base Rate	[5]		3.67%
Basis Point Spread Above Index	[5]		3.90%

[1] All investments are non-controlled/non-affiliated investments as defined by the Investment Company Act of 1940 (the “1940 Act”). The provisions of the 1940 Act classify investments based on the level of control that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when the Company owns 25% or less of the portfolio company’s voting securities and “controlled” when the Company owns more than 25% of the portfolio company’s voting securities. The provisions of the 1940 Act also classify investments further based on the level of ownership that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when the Company owns less than 5% of a portfolio company’s voting securities and “affiliated” when the Company owns 5% or more of a portfolio company’s voting securities.

[2] Percentages are based on net assets of $56,200 as of September 30, 2023.

[3] The majority of the investments bear interest at a rate that may be determined by reference to London Interbank Offered Rate (“LIBOR” or “L”)which reset monthly or quarterly. For each such investment, the Fund has provided the spread over LIBOR and the current contractual interest rate in effect at September 30, 2023. As of September 30, 2023, rates for 1M L, 3M L and 6M L are 5.43%, 5.66% and 5.90%, respectively. Due to uncertainties with LIBOR, investments are starting to transition from LIBOR to Secured Overnight Financing Rate (“SOFR” or “S”). As of September 30, 2023, rates for 1M S, 3M S, 6M S, and 12M S are 5.32%, 5.40%, 5.47%, and 5.47% respectively.

[4] Inputs in the valuation of this investment included certain unobservable inputs that were significant to the valuation as a whole (See Note 4).

[5] All investments are non-controlled/non-affiliated investments as defined by the Investment Company Act of 1940 (the “1940 Act”). The provisions of the 1940 Act classify investments based on the level of control that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when the Company owns 25% or less of the portfolio company’s voting securities and “controlled” when the Company owns more than 25% of the portfolio company’s voting securities. The provisions of the 1940 Act also classify investments further based on the level of ownership that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when the Company owns less than 5% of a portfolio company’s voting securities and “affiliated” when the Company owns 5% or more of a portfolio company’s voting securities.

[6] Percentages are based on net assets of $50,375 thousand as of December 31, 2022.

[7] The majority of the investments bear interest at a rate that may be determined by reference to London Interbank Offered Rate (“LIBOR” or “L”) which reset monthly or quarterly. For each such investment, the Fund has provided the spread over LIBOR and the current contractual interest rate in effect at December 31, 2022. As of December 31, 2022, rates for 1M L, 3M L, 6M L, and 12M L are 4.39%, 4.77%, 5.14%, and 5.48% respectively. Due to uncertainties with LIBOR, investments are starting to transition from LIBOR to Secured Overnight Financing Rate (“SOFR” or “S”). As of December 31, 2022, rates for 1M S, 3M S, 6M S, and 12M S are 4.36%, 4.59%, 4.78%, and 4.87% respectively.

[8] Of the entire $170 thousand commitment to Confluent Health, LLC, $74 thousand was unfunded as of December 31, 2022.

[9] Investment or a portion of the investment was on non-accrual status as of December 31, 2022.

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Organization

9 Months Ended

Sep. 30, 2023

Organization [Abstract]

ORGANIZATION

1. ORGANIZATION

Steele Creek Capital Corporation (which is referred to as the “Company”, “we”, “us” and “our”) was originally organized as MSC Capital LLC as a Delaware limited liability company on June 3, 2020. The Company commenced operations as MSC Capital LLC on July 1, 2020. On October 7, 2020, MSC Capital LLC converted to a Maryland corporation. We are a closed-end externally managed, non-diversified management investment company that has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940 (the “1940 Act”). The Company has elected for federal income tax purposes to be treated as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”).

In September 2020, we formed a wholly-owned special purpose financing vehicle, Steele Creek Funding I, LLC (“Funding I”), a Delaware limited liability company.

Steele Creek Investment Management LLC (the “Investment Advisor” or “Administrator”) is our investment adviser and an affiliate of Moelis Asset Management LP (“Moelis Asset”). We entered into an Investment Advisory Agreement with the Investment Advisor who, subject to the supervision of our board of directors (the “Board”), manages the day-to-day operations and provides investment advisory services to the Company. The Company has no paid employees and the Investment Advisor has entered into an agreement (the “Custody Agreement”) to delegate certain administrative and custody functions to US Bank (the “Custodian”).

The Company is a financial services company that primarily invests in syndicated corporate bank loans, bonds, other debt securities, and structured products. The investment objective is to generate high current income by investing primarily in fixed income instruments, including broadly syndicated bank loans, structured products, mezzanine financings and senior secured bonds.

The term “shares” herein refers to membership interest in the Company prior to conversion.

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Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting - The consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its consolidated subsidiaries. The Company is an investment company following accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services-Investment Companies. The consolidated financial statements reflect all adjustments and reclassifications that, in the opinion of management, are necessary for the fair presentation of the results of operations and financial condition as of and for the periods presented. All significant intercompany balances and transactions have been eliminated. Financial statements are prepared in accordance with GAAP for financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. In the opinion of management, all adjustments, consisting solely of normal recurring accruals considered necessary for the fair presentation of financial statements for the period presented, have been included. These unaudited consolidated financial statements should be read in conjunction with the audited financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (“SEC”).

Use of Estimates - The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Investment Advisor to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from such estimates included in the consolidated financial statements.

Securities Transactions - Securities transactions are recorded on the trade date. The trade date for loans purchased in the “primary market” and for loans and other investments purchased in the “secondary market” is the date on which the transaction is entered. Cost is determined based on consideration given, adjusted for amortization of original issuance discounts (“OID”), market discounts and premiums.

Investment Income - For debt investments, we record interest income on the accrual basis to the extent that such amounts are expected to be collected. Where applicable, OID and purchased discounts and premiums are accreted into interest income using the effective interest method. Loan origination fees are deferred and accreted into interest income using the effective interest method. We record prepayment premiums on loans and other investments as interest income when such amounts are received. We stop accruing interest on investments when it is determined that interest is no longer collectible. For the three months ended September 30, 2023 there were no loans on non-accrual status. For the nine months ended September 30, 2023, there was one loan in non-accrual status, that was no longer held at quarter end. For the three and nine months ended September 30, 2022, there was one loan in non-accrual status.

Expenses - Expenses include management fees, incentive fees, administrator fees, custody fees, legal fees, audit and tax service expenses, third-party valuation fees and other general and administrative expenses. Expenses are recognized on an accrual basis.

Organizational and Offering Costs - Organizational costs include costs relating to the formation and incorporation of the business and are expensed as incurred. Offering costs include legal fees and other costs pertaining to the registration statement and the private placement memorandum. Offering costs are deferred and amortized over a period of twelve months.

Realized Gain or Loss and Unrealized Gain or Loss - Realized gain or loss from an investment is recorded at the time of disposition and calculated using the weighted average cost method. Unrealized gain or loss reflects the changes in fair value of investments as determined in compliance with the Investment Advisor’s valuation policy.

Cash - The Company maintains its cash in a bank account, which, at times, may exceed federally insured limits. As of September 30, 2023, and December 31, 2022, our cash balance exceeded federally insured limits. The Investment Advisor continuously monitors the performance of the bank where the account is held in order to manage any risk associated with such account.

Earnings Per Share - The Company calculates earnings per share by dividing the net increase or decrease in net assets resulting from operations by the weighted average shares for the period.

Paid-in-capital in Excess of Par Value - The Company records the proceeds from the sale of its shares on a net basis to capital stock and paid-in capital in excess of par value, excluding all offering costs.

Fair Value of Financial Instruments - Assets and liabilities which qualify as financial instruments under relevant authoritative guidance are carried at fair value or contractual amounts approximating fair value.

Investment Classification - As required by the 1940 Act, investments are classified by level of control. “Controlled Investments” are defined as investments in portfolio companies that we are deemed to control, as defined in the 1940 Act. “Affiliated Investments” are investments in those companies that are affiliated companies, as defined in the 1940 Act, other than Controlled Investments. “Non-Controlled/Non-Affiliated Investments” are those that are neither Controlled Investments nor Affiliated Investments. Generally, under the 1940 Act, we are deemed to control a company in which we have invested if we own more than 25% of the voting securities of such company. We are deemed to be an affiliated of a company if we own 5% or more of the voting securities of such company. As of September 30, 2023 and December 31, 2022, all of our investments were Non-Controlled/Non-Affiliated investments.

Valuation of Investments - We value our investments in accordance with the 1940 Act and ASC Topic 820 – Fair Value Measurement and Disclosures, (“ASC Topic 820”) as determined in good faith by our Board who has delegated such responsibility to our Investment Advisor, along with our Independent valuation firms, and the Audit Committee. ASC Topic 820 defines fair value, establishes a framework used to measure fair value and requires disclosures for fair value measurements. In accordance with ASC Topic 820, the Company has categorized its financial instruments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy. Investments are reflected on the Consolidated Statement of Assets and Liabilities at fair value, with changes in unrealized gains and losses resulting from changes in fair value reflected in the accompanying Consolidated Statement of Operations as “net change in unrealized appreciation on non-controlled/non-affiliated company investments.” Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., the exit price). Publicly-traded investments in active markets are reported at the market closing price. Investment transactions are recorded on a trade date basis (for publicly-traded investments and securities traded through dealer markets) or upon closing of the transaction (for private investments). The cost of an investment includes all costs incurred by the Company as part of the purchase of such investment. The difference between the initially recognized cost and the subsequent fair value measurement of an investment is reflected as “net change in unrealized appreciation on non-controlled/non-affiliated company investments” in the Consolidated Statement of Operations.

We value our investments in accordance with the Investment Advisor’s valuation policy. Valuations are prepared by the Investment Advisor and approved by the CFO of the Company for each accounting close.

Transfers of investments between levels in the fair value hierarchy are recorded at the end of the period. For the three and nine months ended September 30, 2023 there were term loans and equity investments that transferred from level 3 to level 2 at quarter end. The transfer between levels was made due to availability of broker quotes and increased trading volume for the three and nine months ended September 30, 2023. For the three and nine months ended September 30, 2022 there were no transfers between levels.

Income Taxes - For the three and nine months ended September 30, 2023 and September 30, 2022, we have complied with the requirements of Subchapter M of the Code and expect to be treated as a RIC for federal income tax purposes. In this regard, we account for income taxes using the asset and liability method prescribed by ASC Topic 740 – Income Taxes (“ASC Topic 740”). Under this method, income taxes are provided for amounts currently payable and for amounts deferred as tax assets and liabilities based on differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. Based upon our qualification and election to be treated as a RIC for federal income tax purposes, we typically do not incur any material federal income taxes. However, we may choose to retain a portion of our calendar year income, which may result in the imposition of an excise tax.

We recognize the effect of a tax position in our Consolidated Financial Statements in accordance with ASC Topic 740 when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by the applicable tax authority. Tax positions not considered to satisfy the “more-likely-than-not” threshold would be recorded as a tax expense or benefit. Penalties or interest, if applicable, that may be assessed relating to income taxes would be classified as other operating expenses in the financial statements. There were no tax accruals relating to uncertain tax positions and no amounts accrued for any related interest or penalties with respect to the period presented herein. The Company’s determinations regarding ASC Topic 740 may be subject to review and adjustment at a later date based upon factors including, but not limited to, an on-going analysis of tax laws, regulations and interpretations thereof. Although the Company files both federal and state income tax returns, the Company’s major tax jurisdiction is federal.

Because federal income tax regulations differ from GAAP, distributions in accordance with tax regulations may differ from net investment income and net realized gains recognized for financial reporting purposes. Differences between tax regulations and GAAP may be permanent or temporary. Permanent differences are reclassified among capital accounts in the Consolidated Financial Statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized at some time in the future.

The 2020 to 2022 tax years for the Company are not yet closed and remain subject to examination by U.S. Federal, state and local tax authorities.

Recent Accounting Pronouncements

The Company considers the applicability and impact of all accounting standard updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and either determined to be not applicable or expected to have minimal impact on its consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. ASU 2020-04 and ASU 2021-01 are effective for all entities through December 31, 2022. The expedients and exceptions provided by the amendments do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022, except for hedging transactions as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. In December 2022 the FASB issued Accounting Standards Update 2022-06, Reference Rate Reform (Topic 848) – Deferral of the Sunset Date of Topic 848 which, extended the effective date of Topic 848 from December 31, 2022 to December 31, 2024. The Company is currently evaluating the impact of the adoption of ASU 2020-04 and 2021-01 on its consolidated financial statements.

In March 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326)”, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables -Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The adoption of ASU 2022-02 did not have a material impact on the consolidated financial statements.

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Agreements and Related Party Transactions

9 Months Ended

Sep. 30, 2023

Related Party Transactions [Abstract]

AGREEMENTS AND RELATED PARTY TRANSACTIONS

3. AGREEMENTS AND RELATED PARTY TRANSACTIONS

Investment Advisory Agreement

Pursuant to the investment advisory agreement between the Company and the Investment Advisor (the “Investment Advisory Agreement”), we have agreed to pay a fee for investment advisory and management services consisting of two components, a base management fee and an incentive fee. The cost of both the base management fee and the incentive fee will ultimately be borne by our stockholders.

Our Investment Advisor has agreed to waive its fees (base management and incentive fee), without recourse against or reimbursement by us, for any quarter where net investment income plus net realized capital gains is not sufficient to maintain a targeted annual distribution payment on shares of common stock outstanding on the relevant payment dates of 6.0% based on our net asset value per share.

On August 11, 2023, the Board approved the renewal of the Investment Advisory Agreement which automatically renews for successive one-year periods each September 17th; provided that such continuance is specifically approved at least annually by the vote of the Board or by the vote of a majority of the outstanding voting securities of the Company and the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Act. 

Base Management Fee

The base management fee is calculated at a maximum annual rate of 1.0% of the average of the weighted average (based on the number of shares outstanding each day in the quarter) of our gross assets (including uninvested cash and cash equivalents) at the end of each of the two most recently completed calendar quarters. The base management fee for any partial quarter is pro-rated based on the number of days actually elapsed in that quarter relative to the total number of days in such quarter. On August 13, 2021, the Board agreed to make investments rather than gross assets the basis for their fee to be more in line with the waivers implemented for management fees. 

Gross management fees for the three and nine months ended September 30, 2023 were $400 thousand and $1,147 thousand, respectively. Net management fees for the three and nine months ended September 30, 2023 were $332 thousand and $652 thousand, respectively. The Investment Advisor elected to waive a portion of the management fee and charged management fees on investments rather than gross assets.

Gross management fees for the three and nine months ended September 30, 2022 were $385 thousand and $1,231 thousand, respectively. Net management fees for the three and nine months ended September 30, 2022 were $323 thousand and $688 thousand, respectively. The Investment Advisor elected to waive a portion of the management fee and charged management fees on investments rather than gross assets.

Incentive Fee

The Incentive Fee will consist of an income-based component and a capital gains component.

The portion of the incentive fee based on income is determined and paid quarterly in arrears commencing with the first calendar quarter following the Company’s election to be regulated as a BDC, and equals 15% of the pre-incentive fee net investment income in excess of a 1.5% quarterly (or 6% annually) “hurdle rate.” There are no catch-up provisions applicable to income-based incentive fees under the Investment Advisory Agreement.

Pre-incentive fee net investment income means interest income, dividend income and any other income (including any other fees, such as commitment, origination, structuring, diligence, managerial and consulting fees or other fees the Company receives from portfolio companies) that the Company accrues, minus the Company’s operating expenses for the quarter (including the base management fee, expenses payable under the administration agreement (the “Administration Agreement”) we have entered into with the Administrator, and any interest expense and dividends paid on any issued and outstanding indebtedness or preferred stock, respectively, but excluding, for avoidance of doubt, the income-based incentive fee accrued under GAAP). Pre-incentive fee net investment income also includes, in the case of investments with a deferred interest feature (such as OID, debt instruments with PIK interest and zero coupon securities), accrued income that the Company has not yet received in cash. The Investment Advisor is not under any obligation to reimburse the Company for any part of the income-based incentive fees it received that was based on accrued interest that the Company never actually received. Because of the structure of the incentive fee, it is possible that we may pay an incentive fee in a quarter where we incur a loss. For example, if we receive pre-incentive fee net investment income in excess of the Hurdle rate for a quarter, we will pay the applicable incentive fee even if we have incurred a loss in that quarter due to realized and unrealized capital losses.

The portion of the incentive fee based on capital-gains is payable at the end of each calendar year in arrears, equals 15% of cumulative realized capital gains from the date of the Company’s election to be regulated as a BDC to the end of each calendar year, less cumulative net realized capital losses and unrealized capital depreciation. We will accrue, but will not pay, a capital gains incentive fee with respect to unrealized appreciation. Also, it should be noted that while we accrue the capital incentive fee quarterly, the expense will fluctuate with the Company’s overall investment results and the expense will be finalized at year end.

In determining the capital gains incentive fee payable to the Investment Advisor, we calculate the cumulative aggregate realized capital gains and cumulative aggregate realized capital losses since our inception, and the aggregate unrealized capital depreciation as of the date of the calculation, as applicable, with respect to each of the investments in our portfolio. For this purpose, cumulative aggregate realized capital gains, if any, equals the sum of the differences between the net sales price of each investment, when sold, and the original cost of such investment since our inception. Cumulative aggregate realized capital losses equals the sum of the amounts by which the net sales price of each investment, when sold, is less than the original cost of such investment since our inception. Aggregate unrealized capital depreciation equals the sum of the difference, if negative, between the valuation of each investment as of the applicable calculation date and the original cost of such investment. At the end of the applicable year, the amount of capital gains that serves as the basis for our calculation of the capital gains incentive fee equals the cumulative aggregate realized capital gains less cumulative aggregate realized capital losses, less aggregate unrealized capital depreciation, with respect to our portfolio of investments.

For the three and nine months ended September 30, 2023, the Investment Advisor earned a gross income incentive fee of $85 thousand and $161 thousand, respectively, and did not earn a capital incentive fee.

For the three and nine months ended September 30, 2022, the Company did not earn an incentive fee. For the nine months ended September 30, 2022, the company returned $110 thousand of accrued incentive fees. This reversal was necessary due to the company’s performance in the first quarter of 2022.

Fee Waivers

On February 18, 2021, the Company and the Investment Advisor executed a Waiver Letter (the “Waiver”), whereby the Investment Advisor agrees to waive all or such portion of the Base Management Fee, the Income Incentive Fee and the Capital Incentive Fee (collectively the “Fees”) that they would otherwise be entitled to receive under the Investment Advisory Agreement, dated as of September 16, 2020 (the ‘Agreement”) for any quarter prior to a Liquidity Event to the extent required in order for the Company to earn a quarterly net investment income plus net realized capital gains to maintain an annual distribution payment of shares of common stock outstanding of 6.0%. The Company’s performance will impact the amount and timing of the fee waivers.

For the three and nine months ended September 30, 2023 and September 30, 2022, the Board agreed upon a fee waiver to reduce the basis for the quarterly management fee from gross assets to investments. For the three and nine months ended September 30, 2023 the Investment Advisor waived $68 thousand and $172 thousand, respectively. For the three and nine months ended September 30, 2022 the Company waived $62 thousand and $286 thousand, respectively. This fee waiver will be re-evaluated annually.

The Company’s performance for the three months ended September 30, 2023 produced realized income sufficient to charge a full management fee. Therefore, this waiver was not used for the three months ended September 30, 2023. The Company’s performance for the nine months ended September 30, 2023 did not produce realized income sufficient to charge a full management fee. Therefore, the Company waived an additional $323 thousand of management fees for the nine months ended September 30, 2023.

The Company’s performance for the three months ended September 30, 2022 produced realized income sufficient to charge a full management fee. Therefore, this waiver was not used for the three months ended September 30, 2022. The Company’s performance for the nine months ended September 30, 2022 did not produce realized income sufficient to charge a full management fee. Therefore, the Company waived $257 thousand of management fees for the nine months ended September 30, 2022.

Administration Agreement

The Administration Agreement provides that the Administrator will furnish us with office facilities and equipment and will provide us with clerical, bookkeeping, recordkeeping and other administrative services at such facilities. Under the Administration Agreement, the Administrator will perform, or oversee the performance of, our required administrative services, which will include being responsible for the financial and other records that we are required to maintain and preparing reports to our stockholders and reports and other materials filed with the SEC. In addition, the Administrator will assist us in determining and publishing our net asset value, oversee the preparation and filing of our tax returns and the printing and dissemination of reports and other materials to our stockholders, and generally oversee the payment of our expenses and the performance of administrative and professional services rendered to us by others. Under the Administration Agreement, the Administrator will also provide managerial assistance on our behalf to those portfolio companies that have accepted our offer to provide such assistance.

Under the Administration Agreement, we will reimburse the Administrator based upon our allocable portion (subject to the review and approval of our Board) of the Administrator’s overhead (including rent) in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and our allocable portion of the cost of our Chief Financial Officer and Chief Compliance Officer, and any of their respective staff who provide services to us, operations staff who provide services to us, and internal audit staff, if any, to the extent internal audit performs a role in our Sarbanes-Oxley internal control assessment. In addition, if requested to provide significant managerial assistance to our portfolio companies, the Administrator will be paid an additional amount based on the services provided, which shall not exceed the amount we receive from such portfolio companies for providing this assistance. The Administration Agreement will have an initial term of two years and thereafter may be renewed annually with the approval of our Board. The Administration Agreement may be terminated by either party without penalty upon 60 days’ written notice to the other party. To the extent that the Administrator outsources any of its functions, we will pay the fees associated with such functions on a direct basis without any incremental profit to the Administrator.

On August 11, 2023, the Board approved the renewal of the Administration Agreement which automatically renews for successive one-year periods each September 17th; provided that such continuance is specifically approved at least annually by the vote of the Board or by the vote of a majority of the outstanding voting securities of the Company and the vote of a majority of the members of the Company’s Board who are not parties to this Agreement or “interested persons” (as such term defined in Section 2(a)(19) of the Investment Company Act) of any such party, in accordance with the Investment Company Act.

Related Party Transactions

As of September 30, 2023, affiliates owned approximately 42% of the Company representing approximately $23,459 thousand of the Company’s net assets. During the year ended December 31, 2022 an affiliate of the Company contributed $250 thousand of cash in exchange for equity in the Company. As of December 31, 2022, affiliates owned approximately 43% of the Company representing approximately $21,458 thousand of the Company’s net assets. 

Separate from the contributions made above, the Company may, from time to time, purchase investments from, or sell investments to affiliates of our Investment Advisor at fair value on the trade date. For the three and nine months ended September 30, 2023 and September 30, 2022 there were no purchases of investments from or sales of investments to affiliates of our Investment Advisor.

For the three and nine months ended September 30, 2023 and September 30, 2022, the Company incurred $20 thousand and $60 thousand in directors’ fees expense, respectively.

The Company carries employment practices liability, directors and officers and errors and omission insurance. For the best interests of the Company, these policies are joint liability policies with Moelis Asset and its affiliates.

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Investments

9 Months Ended

Sep. 30, 2023

Investments [Abstract]

INVESTMENTS

4. INVESTMENTS

Fair Value Measurements

We value our investments for each accounting close at fair value in accordance with the 1940 Act and ASC Topic 820, which defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Due to the uncertainty inherent in the valuation process, estimates of fair value may differ significantly from the values that would have been used had a ready market for our investments existed, and the differences could be material. Additionally, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on the investments to be different than the valuations currently assigned.

Investments for which observable market prices in active markets do not exist are reported at fair value, as determined by the Investment Advisor using the best information available. The amount determined to be fair value may incorporate the Investment Advisor’s own assumptions (including assumptions that the Investment Advisor believes market participants would use in valuing the investment, and assumptions relating to appropriate risk adjustments for non-performance and lack of marketability).

The fair values assigned to our investments are based upon available information and do not necessarily represent amounts which might ultimately be realized. Due to the absence of readily determinable fair values and the inherent uncertainty of valuations, the estimated fair values may differ significantly from values that would have been used had a ready market for the securities existed, and the differences could be material.

The guidance establishes a framework for measuring fair value, and requires enhanced disclosures about fair value measurements. The fair value hierarchy prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily-available actively quoted prices or for which fair value can be measured from actively-quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Investments measured and reported at fair value are classified and disclosed in one of the following categories (from highest to lowest) based on inputs:

Level 1 – Quoted prices (unadjusted) are available in active markets for identical investments that the Company has the ability to access as of the reporting date. The type of investments which would generally be included in Level 1 include listed equity securities and listed derivatives. The Company, to the extent that it holds such investments, does not adjust the quoted price for these investments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. This may include valuations based on executed trades, broker quotations that constitute an executable price, and alternative pricing sources supported by observable inputs which, in each case, are either directly or indirectly observable for the asset in connection with market data at the measurement date.

Level 3 – Pricing inputs are unobservable for the investments and include situations where there is little, if any, market activity for the investments. The inputs into the determination of fair value require significant judgment or estimation by the Investment Advisor. In certain cases, investments classified within Level 3 may include securities for which we have obtained indicative quotes from broker-dealers that do not necessarily represent prices the broker may be willing to trade on.

The valuation techniques used maximize the use of observable inputs and minimize the use of unobservable inputs. Our loans are predominately valued based on evaluated prices from a nationally recognized independent pricing service or from third-party brokers who make markets in such debt investments. When possible, we make inquiries of third-party pricing sources to understand their use of significant inputs and assumptions. We review the third-party fair value estimates and perform procedures to validate their reasonableness, including an analysis of the range and dispersion of third-party estimates, frequency of pricing updates, comparison of recent trade activity for similar securities, and review for consistency with market conditions observed as of the measurement date.

There may be instances when independent or third-party pricing sources are not available, or cases where we believe that the third-party pricing sources do not provide sufficient evidence to support a market participant’s view of the fair value of the debt investment being valued. These instances may result from an investment in a less liquid loan such as a middle market loan, a mezzanine loan or unitranche loan, or a loan to a company that has become financially distressed. In these instances, we may estimate the fair value based on a combination of a market yield valuation methodology and evaluated pricing discussed above, or solely based on a market yield valuation methodology. Under the market yield valuation methodology, we estimate the fair value based on a discounted cash flow technique. For these loans, the unobservable inputs used in the market yield valuation methodology to measure fair value reflect management’s best estimate of assumptions that would be used by market participants when pricing the investment in a hypothetical transaction, including estimated remaining life, current market yield and interest rate spreads of similar loans and securities as of the measurement date. We will estimate the remaining life based on market data for the average life of similar loans. However, if we have information that the loan is expected to be repaid in the near term, we would use an estimated remaining life based on the expected repayment date. The average life to be used to estimate the fair value of our loans may be shorter than the legal maturity of the loans since many loans are prepaid prior to the maturity date. The interest rate spreads used to estimate the fair value of our loans is based on current interest rate spreads of similar loans. If there is a significant deterioration of the credit quality of a loan, we may consider other factors that a hypothetical market participant would use to estimate fair value, including the proceeds that would be received in a liquidation analysis.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgement and considers factors specific to the investment.

The following fair value hierarchy table sets forth our investments by level as of September 30, 2023:

	September 30, 2023
	Total		Level 1		Level 2		Level 3
Term Loans	$	133,529	$	-	$	133,529	$	-
Collateralized Loan Obligations		2,500		-		2,500		-
Delayed Draw Loan		238		-		238		-
Equity		330		-		291		39
Total Investments	$	136,597	$	-	$	136,558	$	39

The following fair value hierarchy table sets forth our investments by level as of December 31, 2022:

	December 31, 2022
	Total		Level 1		Level 2		Level 3
Term Loans	$	126,370	$	-	$	126,370	$	-
Collateralized Loan Obligations		-		-		-		-
Delayed Draw Loan		1,249		-		1,249		-
Equity		-		-		-		-
Total Investments	$	127,619	$	-	$	127,619	$	-

Unobservable inputs used in the fair value measurement of Level 3 investments as of September 30, 2023, included the following:

Fair

Valuation

Unobservable

Range

Weighted

Type

Value

Technique

Input

Minimum

Maximum

Average

Equity

39

Illiquidity Discount

Illiquidity Discount

0

%

100

%

30

%

Total

$

39

Certain fair value measurements may employ more than one valuation technique, with each valuation technique receiving a relative weight between 0% and 100%. Generally, a change in an unobservable input may result in a change to the value of an investment as follows:

Input	Impact to value if input increases	Impact to value if input decreases
Illiquidity Discount	Decreases	Increase

Changes in investments categorized as Level 3 for the three and nine months ended September 30, 2023 were as follows:

	Three months ended September 30, 2023
	Term Loans			Equity			Total Investments
Beginning Balance	$	166		$	311		$	477
Net realized gain (loss)		-			-			-
Net unrealized gain (loss)		-			-			-
Transfers (1)		(166	)		(311	)		(477	)
Acquisitions		-			39			39
Ending Balance	$	-		$	39		$	39

	Nine months ended September 30, 2023
	Term Loans			Equity			Total Investments
Beginning Balance	$	-		$	-		$	-
Net realized gain (loss)		-			-			-
Net unrealized gain (loss)		-			-			-
Transfers (1)		(166	)		(311	)		(477	)
Acquisitions		166			350			516
Ending Balance	$	-		$	39		$	39

(1) Per ASC 820, leveling for each investment is conducted at each quarter end. Transfers between levels are made in accordance with the Company’s accounting policy.

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Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

5. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023:

	Three months ended September 30, 2023		Nine months ended September 30, 2023
Numerator - net earnings (loss)	$	3,176	$	7,988
Denominator - weighted average shares		5,738		5,701
Net earnings (loss) per share	$	0.55	$	1.40

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2022:

	Three months ended September 30, 2022			Nine months ended September 30, 2022
Numerator - net earnings (loss)	$	(881	)	$	(7,963	)
Denominator - weighted average shares		5,426			5,131
Net earnings (loss) per share	$	(0.16	)	$	(1.55	)

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Net Assets

9 Months Ended

Sep. 30, 2023

Net Assets [Abstract]

NET ASSETS

6. NET ASSETS

The Company has been actively fundraising since its inception. The table below summarizes the capital the Company has raised (returned) and the shares issued (tendered) to investors during the nine months ended September 30, 2023.

Date Closed	Capital Raised (in thousands)			Shares Issued
Balance at December 31, 2022	$	59,241			5,643,073
January 3, 2023		344			38,579
February 1, 2023		50			5,300
March 1, 2023		221			23,458
Balance at March 31, 2023	$	59,856			5,710,410
April 3, 2023		319			34,712
April 3, 2023		(1,046	)		(113,999	)
May 1, 2023		297			31,900
June 1, 2023		520			57,211
Balance at June 30, 2023	$	59,946			5,720,234
July 3, 2023		105			11,143
July 3, 2023		(149	)		(15,844	)
August 1, 2023		247			25,555
September 1, 2023		171			17,649
Balance at September 30, 2023	$	60,320			5,758,737

The table below summarizes the capital the Company has raised (returned) and the shares issued (tendered) to investors during the nine months ended September 30, 2022.

Date Closed	Capital Raised (in thousands)		Shares Issued
Balance at December 31, 2021	$	45,555		4,311,321
January 7, 2022		4,395		401,369
January 21, 2022		675		61,059
February 4, 2022		725		65,809
February 18, 2022		100		9,299
March 4, 2022		374		34,875
March 18, 2022		839		80,506
Balance at March 31, 2022	$	52,663		4,964,238
April 1, 2022		769		72,225
April 18, 2022		347		32,246
May 6, 2022		724		68,479
May 20, 2022		861		87,990
June 3, 2022		234		23,769
June 17, 2022		247		25,801
Balance at June 30, 2022	$	55,845		5,274,748
July 1, 2022		563		61,107
July 15, 2022		672		73,722
August 5, 2022		54		5,651
August 19, 2022		347		36,028
September 2, 2022		30		3,137
September 16, 2022		360		37,871
Balance at September 30, 2022	$	57,871		5,492,264

During the three and nine months ended September 30, 2023, the Company issued 54,347 and 245,507 shares with an aggregate value of $523 thousand and $2,274 thousand, respectively. During the three and nine months ended September 30, 2023, 15,844 shares and 129,843 shares with an aggregate value of $149 thousand and $1,195 thousand were tendered and accepted by the Company. During the three and nine months ended September 30, 2022, the Company issued 217,516 and 1,180,943 shares with an aggregate value of $2,026 thousand and $12,316 thousand, respectively.

As of September 30, 2023, and December 31, 2022 the Company had 5,758,737 and 5,643,073 shares of common stock, $0.001 par value per share, outstanding, respectively. 

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Credit Facility

9 Months Ended

Sep. 30, 2023

Credit Facility [Abstract]

CREDIT FACILITY

7. CREDIT FACILITY

On October 13, 2020, Funding I entered into a two-year secured revolving Credit Agreement (the “Credit Agreement”) with BNP Paribas (“BNP”) as lender and administrative agent (the “BNP Credit Facility”) providing a maximum of $45,000 thousand (“Maximum Facility Amount”) to Funding I. During the Credit Facility’s revolving period (earlier of the termination by the borrower or twelve month anniversary of the closing date), it bore interest at London Interbank Offered Rate, or LIBOR, plus 175 basis points. The Company created a wholly owned subsidiary, Funding I, which it will use to hold the Company’s investments, and a first priority continuing security interest in, to and under each investment, all underlying investments and underlying assets has been granted to BNP to be used as collateral for the BNP Credit Facility. The Company began transferring investments into Steele Creek Funding I, LLC in October 2020.

Funding I is required to pay an administrative agent fee equal to $25 thousand per annum and a structuring fee equal to 0.25% of the Maximum Facility Amount paid on the twelve-month anniversary of the closing date. Additionally, an unused fee is payable quarterly in arrears in an amount equal to 0.70% on the actual daily unused amount greater than 20% of the Maximum Facility Amount under the BNP Credit Facility from April 13, 2021 to the end of the revolving period.

On April 29, 2021, Funding I executed an amendment to the BNP Credit Facility. The amendment solidified the LIBOR transition to Secured Overnight Financing Rate (“SOFR”) for the planned discontinuation of LIBOR. The amendment also increased the Individual Lender Maximum Facility Amount from $45,000 thousand to $80,000 thousand.

On October 28, 2021, the Company executed an additional amendment to the Credit Agreement. Material amendments included the revolving period being extended 36 months, from 12 months to 48 months and the interest rate being reduced from LIBOR plus 175 basis points to LIBOR plus 140 basis points. The advance rate was increased from 67.5% to 70% and expanded to include a triple C bucket with a 60% advance rate. The structuring fee was increased from 0.25% of the Maximum Facility Amount to 0.50% of the Maximum Facility Amount and will be paid in three equal installments (December 2021, December 2022, and December 2023). Updates were made to allow for more flexibility to move capital out of the facility subject to certain covenants. Except as described above, all other terms and provisions of the Agreement remain in full force and effect.

On March 22, 2022, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. Material amendments to the Agreement include the interest rate being converted from LIBOR plus 140 basis points to SOFR plus 140 basis points plus 15 basis points. In addition, the Individual Lender Maximum Facility Amount increased from $80,000 thousand to $95,000 thousand and the language and requirements related to the Agreed Upon Procedures provided by independent accountants were amended to be more appropriate for the underlying collateral.

On August 23, 2022, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. This amendment contained certain conforming changes that are not material.

On July 10, 2023, the Company amended the Credit Agreement between Steele Creek Capital Funding I, LLC, BNP Paribas, and the Company as dated October 13, 2020 and as previously amended. This amendment contained certain conforming changes that are not material.

The revolving period of the BNP Credit Facility ends on October 28, 2025, unless terminated earlier by the Company. The maturity date of the BNP Credit Facility is the earliest to occur of (a) October 28, 2026, and (b) the date on which the BNP gives notice to the Company, the Collateral Manager and the Equityholder following the occurrence of and during the continuation of an Event of Default that the entire Outstanding Principal Amount of Loans shall be due and payable. The stated maturity of October 28, 2026 may not be extended.

As of September 30, 2023 and December 31, 2022, there was $86,312 thousand and $83,150 thousand outstanding, respectively, and $8,688 thousand and $11,850 thousand available, respectively, to be drawn under the BNP Credit Facility. As of September 30, 2023 and December 31, 2022, the BNP Credit Facility had a fair value of $86,312 thousand and $83,150 thousand, respectively and a weighted average interest rate of 6.83% and 3.17%, respectively. The fair value of the BNP Credit Facility approximates fair value because the interest rates adjust to the market interest rates (Level 3 input). As of September 30, 2023 and December 31, 2022, Funding I was in compliance with all covenants of the BNP Credit Facility.

For the three and nine months ended September 30, 2023, we incurred interest and debt financing expense of $1,461 thousand and $4,097 thousand, respectively. The average debt outstanding for the three and nine months ended September 30, 2023 was $82,142 thousand and $81,652 thousand, respectively.

For the three and nine months ended September 30, 2022, we incurred interest and debt financing expense of $826 thousand and $1,670 thousand, respectively. The average debt outstanding for the three and nine months ended September 30, 2022 was $85,870 thousand and $81,643 thousand, respectively. 

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

8. COMMITMENTS AND CONTINGENCIES

Commitments to extend credit include loan proceeds we are obligated to advance, such as delayed draws. Commitments generally have fixed expiration dates or other termination clauses. Unrealized gains or losses associated with unfunded commitments are recorded in the consolidated financial statements and reflected as an adjustment to the fair value of the related security in the Consolidated Schedule of Investments. The par amount of the unfunded commitments is not recognized by the Company until the commitment becomes funded. As of September 30, 2023, the Company had no unfunded commitments. As of December 31, 2022, the Company had unfunded commitments of $74 thousand.

In the ordinary course of business, we may be a party to certain legal proceedings, including actions brought against us and others with respect to investment transactions. The outcomes of any such legal proceedings are uncertain and, as a result of these proceedings, the values of the investments to which they relate could decrease. We were not subject to any litigation against us as of September 30, 2023. The debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and neither the Members nor any other person or entity shall be obligated personally for any such debt, obligation or liability of the Company.

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Financial Highlights

9 Months Ended

Sep. 30, 2023

Investment Company, Financial Highlights [Abstract]

FINANCIAL HIGHLIGHTS

9. FINANCIAL HIGHLIGHTS

The following financial highlights are calculated for the shareholders as a whole.

	Nine Months Ended September 30, 2023			Nine Months Ended September 30, 2022			Nine Months Ended September 30, 2021
Per share data:
Net asset value at beginning of period	$	8.93		$	10.90		$	10.76
Net investment income (loss) (1)		0.72			0.43			0.10
Net realized gain (loss) (1)		(0.25	)		0.05			0.58
Net change in unrealized appreciation (depreciation) (1)		0.93			(2.03	)		(0.02	)
Net increase in net assets resulting from operations (1)		1.40			(1.55	)		0.66
Stockholder distributions from income (2)		(0.57	)		(0.47	)		(0.50	)
Other (3)		-			0.03			0.10
Net asset value at end of period	$	9.76		$	8.91		$	11.02
Net assets at end of period	$	56,200		$	48,960		$	44,086
Shares outstanding at end of period		5,758,737			5,492,264			4,001,831
Total return (2)		16.21	%		(14.46	)%		7.18	%
Ratio/Supplemental data:
Ratio of net expenses excluding waivers to average net assets (4)		16.16	%		10.65	%		11.98	%
Ratio of net expenses including waivers to average net assets (4)		15.21	%		9.55	%		10.33	%
Ratio of net investment income to average net assets (4)		10.08	%		5.47	%		1.16	%
Portfolio turnover (5)		107.0	%		83.4	%		480.3	%

(1) The per share data was derived by using the weighted average shares outstanding during the period.

(2) Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share, if any, divided by the beginning NAV per share. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at the quarter end NAV per share preceding the distribution. Return calculations are not annualized.

(3) Includes the impact of different amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.

(4) Ratios are annualized.

(5) Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported. Ratio is not annualized.

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Subsequent Events

9 Months Ended

Sep. 30, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

10. SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date of issuance of these consolidated financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements other than those disclosed below.

On October 2, 2023, the Company issued and sold 587,724 shares of its common stock to certain investors for an aggregate offering price of $5,736 thousand. The sale of its common stock was made pursuant to subscription agreements between the Company and the investors, and the issuance of the common stock was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

On October 18, 2023, the Company paid approximately $79 thousand for the approximately 8,141 shares tendered and accepted at the close of the September 2023 tender offer.

On November 1, 2023, the Company issued and sold 10,345 shares of its common stock to certain investors for an aggregate offering price of $100 thousand. The sale of its common stock was made pursuant to subscription agreements between the Company and the investors, and the issuance of the common stock was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

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N-2 - $ / shares

9 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Sep. 30, 2022

Dec. 31, 2021

Sep. 30, 2021

Dec. 31, 2020

Cover [Abstract]

Entity Central Index Key

0001817825

Amendment Flag

false

Securities Act File Number

814-01351

Document Type

10-Q

Entity Registrant Name

STEELE CREEK CAPITAL CORPORATION

Entity Address, Address Line One

210 S. College Street

Entity Address, Address Line Two

Suite 1690

Entity Address, City or Town

Charlotte

Entity Address, State or Province

NC

Entity Address, Postal Zip Code

28244

City Area Code

(704)

Local Phone Number

343-6011

Entity Emerging Growth Company

true

Entity Ex Transition Period

false

Financial Highlights [Abstract]

Senior Securities, Note [Text Block]

Item 3. Default Upon Senior Securities.

None.

General Description of Registrant [Abstract]

Investment Objectives and Practices [Text Block]

Our investment objective is to generate high current income by investing primarily in fixed income instruments, including broadly syndicated bank loans, structured products, mezzanine financings and senior secured bonds. We provide moderate liquidity to our shareholders by offering a quarterly share repurchase program. As of September 30, 2023, approximately 130 thousand shares have been tendered through the share repurchase program. Broadly syndicated loans are generally more liquid than directly originated investments and may provide more attractive financing terms than less liquid assets. Mezzanine financings are generally unrated or below investment grade rated investments that have greater credit and liquidity risk than more highly rated debt obligations. Moreover, mezzanine financings are generally unsecured and subordinate to other obligations of the obligor and are subject to many of the same risks as those associated with high-yield debt securities.

Risk Factors [Table Text Block]

Item 1A. Risk Factors.

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Annual Report on Form 10-K”), which could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report on Form 10-K are not the only risks we face. Additional risks and uncertainties that are not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results. Other than the risk factors below, during the nine months ended September 30, 2023, there have been no material changes from the risk factors set forth in our Annual Report on Form 10-K.

NAV Per Share

$ 9.76

$ 8.93

$ 8.91

$ 10.9

$ 11.02

$ 10.76

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Accounting Policies, by Policy (Policies)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of Accounting

Basis of Accounting - The consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its consolidated subsidiaries. The Company is an investment company following accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services-Investment Companies. The consolidated financial statements reflect all adjustments and reclassifications that, in the opinion of management, are necessary for the fair presentation of the results of operations and financial condition as of and for the periods presented. All significant intercompany balances and transactions have been eliminated. Financial statements are prepared in accordance with GAAP for financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. In the opinion of management, all adjustments, consisting solely of normal recurring accruals considered necessary for the fair presentation of financial statements for the period presented, have been included. These unaudited consolidated financial statements should be read in conjunction with the audited financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (“SEC”).

Use of Estimates

Use of Estimates - The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Investment Advisor to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from such estimates included in the consolidated financial statements.

Securities Transactions

Securities Transactions - Securities transactions are recorded on the trade date. The trade date for loans purchased in the “primary market” and for loans and other investments purchased in the “secondary market” is the date on which the transaction is entered. Cost is determined based on consideration given, adjusted for amortization of original issuance discounts (“OID”), market discounts and premiums.

Investment Income

Investment Income - For debt investments, we record interest income on the accrual basis to the extent that such amounts are expected to be collected. Where applicable, OID and purchased discounts and premiums are accreted into interest income using the effective interest method. Loan origination fees are deferred and accreted into interest income using the effective interest method. We record prepayment premiums on loans and other investments as interest income when such amounts are received. We stop accruing interest on investments when it is determined that interest is no longer collectible. For the three months ended September 30, 2023 there were no loans on non-accrual status. For the nine months ended September 30, 2023, there was one loan in non-accrual status, that was no longer held at quarter end. For the three and nine months ended September 30, 2022, there was one loan in non-accrual status.

Expenses

Expenses - Expenses include management fees, incentive fees, administrator fees, custody fees, legal fees, audit and tax service expenses, third-party valuation fees and other general and administrative expenses. Expenses are recognized on an accrual basis.

Organizational and Offering Costs

Organizational and Offering Costs - Organizational costs include costs relating to the formation and incorporation of the business and are expensed as incurred. Offering costs include legal fees and other costs pertaining to the registration statement and the private placement memorandum. Offering costs are deferred and amortized over a period of twelve months.

Realized Gain or Loss and Unrealized Gain or Loss

Realized Gain or Loss and Unrealized Gain or Loss - Realized gain or loss from an investment is recorded at the time of disposition and calculated using the weighted average cost method. Unrealized gain or loss reflects the changes in fair value of investments as determined in compliance with the Investment Advisor’s valuation policy.

Cash

Cash - The Company maintains its cash in a bank account, which, at times, may exceed federally insured limits. As of September 30, 2023, and December 31, 2022, our cash balance exceeded federally insured limits. The Investment Advisor continuously monitors the performance of the bank where the account is held in order to manage any risk associated with such account.

Earnings Per Share

Earnings Per Share - The Company calculates earnings per share by dividing the net increase or decrease in net assets resulting from operations by the weighted average shares for the period.

Paid-in-capital in Excess of Par Value

Paid-in-capital in Excess of Par Value - The Company records the proceeds from the sale of its shares on a net basis to capital stock and paid-in capital in excess of par value, excluding all offering costs.

Fair Value of Financial Instruments

Fair Value of Financial Instruments - Assets and liabilities which qualify as financial instruments under relevant authoritative guidance are carried at fair value or contractual amounts approximating fair value.

Investment Classification

Investment Classification - As required by the 1940 Act, investments are classified by level of control. “Controlled Investments” are defined as investments in portfolio companies that we are deemed to control, as defined in the 1940 Act. “Affiliated Investments” are investments in those companies that are affiliated companies, as defined in the 1940 Act, other than Controlled Investments. “Non-Controlled/Non-Affiliated Investments” are those that are neither Controlled Investments nor Affiliated Investments. Generally, under the 1940 Act, we are deemed to control a company in which we have invested if we own more than 25% of the voting securities of such company. We are deemed to be an affiliated of a company if we own 5% or more of the voting securities of such company. As of September 30, 2023 and December 31, 2022, all of our investments were Non-Controlled/Non-Affiliated investments.

Valuation of Investments

Valuation of Investments - We value our investments in accordance with the 1940 Act and ASC Topic 820 – Fair Value Measurement and Disclosures, (“ASC Topic 820”) as determined in good faith by our Board who has delegated such responsibility to our Investment Advisor, along with our Independent valuation firms, and the Audit Committee. ASC Topic 820 defines fair value, establishes a framework used to measure fair value and requires disclosures for fair value measurements. In accordance with ASC Topic 820, the Company has categorized its financial instruments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy. Investments are reflected on the Consolidated Statement of Assets and Liabilities at fair value, with changes in unrealized gains and losses resulting from changes in fair value reflected in the accompanying Consolidated Statement of Operations as “net change in unrealized appreciation on non-controlled/non-affiliated company investments.” Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., the exit price). Publicly-traded investments in active markets are reported at the market closing price. Investment transactions are recorded on a trade date basis (for publicly-traded investments and securities traded through dealer markets) or upon closing of the transaction (for private investments). The cost of an investment includes all costs incurred by the Company as part of the purchase of such investment. The difference between the initially recognized cost and the subsequent fair value measurement of an investment is reflected as “net change in unrealized appreciation on non-controlled/non-affiliated company investments” in the Consolidated Statement of Operations.

We value our investments in accordance with the Investment Advisor’s valuation policy. Valuations are prepared by the Investment Advisor and approved by the CFO of the Company for each accounting close.

Transfers of investments between levels in the fair value hierarchy are recorded at the end of the period. For the three and nine months ended September 30, 2023 there were term loans and equity investments that transferred from level 3 to level 2 at quarter end. The transfer between levels was made due to availability of broker quotes and increased trading volume for the three and nine months ended September 30, 2023. For the three and nine months ended September 30, 2022 there were no transfers between levels.

Income Taxes

Income Taxes - For the three and nine months ended September 30, 2023 and September 30, 2022, we have complied with the requirements of Subchapter M of the Code and expect to be treated as a RIC for federal income tax purposes. In this regard, we account for income taxes using the asset and liability method prescribed by ASC Topic 740 – Income Taxes (“ASC Topic 740”). Under this method, income taxes are provided for amounts currently payable and for amounts deferred as tax assets and liabilities based on differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. Based upon our qualification and election to be treated as a RIC for federal income tax purposes, we typically do not incur any material federal income taxes. However, we may choose to retain a portion of our calendar year income, which may result in the imposition of an excise tax.

We recognize the effect of a tax position in our Consolidated Financial Statements in accordance with ASC Topic 740 when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by the applicable tax authority. Tax positions not considered to satisfy the “more-likely-than-not” threshold would be recorded as a tax expense or benefit. Penalties or interest, if applicable, that may be assessed relating to income taxes would be classified as other operating expenses in the financial statements. There were no tax accruals relating to uncertain tax positions and no amounts accrued for any related interest or penalties with respect to the period presented herein. The Company’s determinations regarding ASC Topic 740 may be subject to review and adjustment at a later date based upon factors including, but not limited to, an on-going analysis of tax laws, regulations and interpretations thereof. Although the Company files both federal and state income tax returns, the Company’s major tax jurisdiction is federal.

Because federal income tax regulations differ from GAAP, distributions in accordance with tax regulations may differ from net investment income and net realized gains recognized for financial reporting purposes. Differences between tax regulations and GAAP may be permanent or temporary. Permanent differences are reclassified among capital accounts in the Consolidated Financial Statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized at some time in the future.

The 2020 to 2022 tax years for the Company are not yet closed and remain subject to examination by U.S. Federal, state and local tax authorities.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

The Company considers the applicability and impact of all accounting standard updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and either determined to be not applicable or expected to have minimal impact on its consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. ASU 2020-04 and ASU 2021-01 are effective for all entities through December 31, 2022. The expedients and exceptions provided by the amendments do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022, except for hedging transactions as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. In December 2022 the FASB issued Accounting Standards Update 2022-06, Reference Rate Reform (Topic 848) – Deferral of the Sunset Date of Topic 848 which, extended the effective date of Topic 848 from December 31, 2022 to December 31, 2024. The Company is currently evaluating the impact of the adoption of ASU 2020-04 and 2021-01 on its consolidated financial statements.

In March 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326)”, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables -Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The adoption of ASU 2022-02 did not have a material impact on the consolidated financial statements.

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Investments (Tables)

9 Months Ended

Sep. 30, 2023

Investments [Abstract]

Schedule of Fair Value Hierarchy Table Sets Forth Our Investments

The following fair value hierarchy table sets forth our investments by level as of September 30, 2023:

	September 30, 2023
	Total		Level 1		Level 2		Level 3
Term Loans	$	133,529	$	-	$	133,529	$	-
Collateralized Loan Obligations		2,500		-		2,500		-
Delayed Draw Loan		238		-		238		-
Equity		330		-		291		39
Total Investments	$	136,597	$	-	$	136,558	$	39

The following fair value hierarchy table sets forth our investments by level as of December 31, 2022:

	December 31, 2022
	Total		Level 1		Level 2		Level 3
Term Loans	$	126,370	$	-	$	126,370	$	-
Collateralized Loan Obligations		-		-		-		-
Delayed Draw Loan		1,249		-		1,249		-
Equity		-		-		-		-
Total Investments	$	127,619	$	-	$	127,619	$	-

Schedule of Unobservable Inputs Used In the Fair Value Measurement of Level 3 Investments

Unobservable inputs used in the fair value measurement of Level 3 investments as of September 30, 2023, included the following:

Fair

Valuation

Unobservable

Range

Weighted

Type

Value

Technique

Input

Minimum

Maximum

Average

Equity

39

Illiquidity Discount

Illiquidity Discount

0

%

100

%

30

%

Total

$

39

Schedule of Certain Fair Value Measurements

Certain fair value measurements may employ more than one valuation technique, with each valuation technique receiving a relative weight between 0% and 100%. Generally, a change in an unobservable input may result in a change to the value of an investment as follows:

Input	Impact to value if input increases	Impact to value if input decreases
Illiquidity Discount	Decreases	Increase

Schedule of Changes in Investments Categorized as Level 3

Changes in investments categorized as Level 3 for the three and nine months ended September 30, 2023 were as follows:

	Three months ended September 30, 2023
	Term Loans			Equity			Total Investments
Beginning Balance	$	166		$	311		$	477
Net realized gain (loss)		-			-			-
Net unrealized gain (loss)		-			-			-
Transfers (1)		(166	)		(311	)		(477	)
Acquisitions		-			39			39
Ending Balance	$	-		$	39		$	39

	Nine months ended September 30, 2023
	Term Loans			Equity			Total Investments
Beginning Balance	$	-		$	-		$	-
Net realized gain (loss)		-			-			-
Net unrealized gain (loss)		-			-			-
Transfers (1)		(166	)		(311	)		(477	)
Acquisitions		166			350			516
Ending Balance	$	-		$	39		$	39

(1) Per ASC 820, leveling for each investment is conducted at each quarter end. Transfers between levels are made in accordance with the Company’s accounting policy.

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Basic and Diluted Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023:

	Three months ended September 30, 2023		Nine months ended September 30, 2023
Numerator - net earnings (loss)	$	3,176	$	7,988
Denominator - weighted average shares		5,738		5,701
Net earnings (loss) per share	$	0.55	$	1.40

	Three months ended September 30, 2022			Nine months ended September 30, 2022
Numerator - net earnings (loss)	$	(881	)	$	(7,963	)
Denominator - weighted average shares		5,426			5,131
Net earnings (loss) per share	$	(0.16	)	$	(1.55	)

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Net Assets (Tables)

9 Months Ended

Sep. 30, 2023

Net Assets [Abstract]

Schedule of Raised and the Shares Issued to Investors

The Company has been actively fundraising since its inception. The table below summarizes the capital the Company has raised (returned) and the shares issued (tendered) to investors during the nine months ended September 30, 2023.

Date Closed	Capital Raised (in thousands)			Shares Issued
Balance at December 31, 2022	$	59,241			5,643,073
January 3, 2023		344			38,579
February 1, 2023		50			5,300
March 1, 2023		221			23,458
Balance at March 31, 2023	$	59,856			5,710,410
April 3, 2023		319			34,712
April 3, 2023		(1,046	)		(113,999	)
May 1, 2023		297			31,900
June 1, 2023		520			57,211
Balance at June 30, 2023	$	59,946			5,720,234
July 3, 2023		105			11,143
July 3, 2023		(149	)		(15,844	)
August 1, 2023		247			25,555
September 1, 2023		171			17,649
Balance at September 30, 2023	$	60,320			5,758,737

The table below summarizes the capital the Company has raised (returned) and the shares issued (tendered) to investors during the nine months ended September 30, 2022.

Date Closed	Capital Raised (in thousands)		Shares Issued
Balance at December 31, 2021	$	45,555		4,311,321
January 7, 2022		4,395		401,369
January 21, 2022		675		61,059
February 4, 2022		725		65,809
February 18, 2022		100		9,299
March 4, 2022		374		34,875
March 18, 2022		839		80,506
Balance at March 31, 2022	$	52,663		4,964,238
April 1, 2022		769		72,225
April 18, 2022		347		32,246
May 6, 2022		724		68,479
May 20, 2022		861		87,990
June 3, 2022		234		23,769
June 17, 2022		247		25,801
Balance at June 30, 2022	$	55,845		5,274,748
July 1, 2022		563		61,107
July 15, 2022		672		73,722
August 5, 2022		54		5,651
August 19, 2022		347		36,028
September 2, 2022		30		3,137
September 16, 2022		360		37,871
Balance at September 30, 2022	$	57,871		5,492,264

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Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2023

Investment Company, Financial Highlights [Abstract]

Schedule of Financial Highlights

The following financial highlights are calculated for the shareholders as a whole.

	Nine Months Ended September 30, 2023			Nine Months Ended September 30, 2022			Nine Months Ended September 30, 2021
Per share data:
Net asset value at beginning of period	$	8.93		$	10.90		$	10.76
Net investment income (loss) (1)		0.72			0.43			0.10
Net realized gain (loss) (1)		(0.25	)		0.05			0.58
Net change in unrealized appreciation (depreciation) (1)		0.93			(2.03	)		(0.02	)
Net increase in net assets resulting from operations (1)		1.40			(1.55	)		0.66
Stockholder distributions from income (2)		(0.57	)		(0.47	)		(0.50	)
Other (3)		-			0.03			0.10
Net asset value at end of period	$	9.76		$	8.91		$	11.02
Net assets at end of period	$	56,200		$	48,960		$	44,086
Shares outstanding at end of period		5,758,737			5,492,264			4,001,831
Total return (2)		16.21	%		(14.46	)%		7.18	%
Ratio/Supplemental data:
Ratio of net expenses excluding waivers to average net assets (4)		16.16	%		10.65	%		11.98	%
Ratio of net expenses including waivers to average net assets (4)		15.21	%		9.55	%		10.33	%
Ratio of net investment income to average net assets (4)		10.08	%		5.47	%		1.16	%
Portfolio turnover (5)		107.0	%		83.4	%		480.3	%

(1) The per share data was derived by using the weighted average shares outstanding during the period.

(2) Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share, if any, divided by the beginning NAV per share. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at the quarter end NAV per share preceding the distribution. Return calculations are not annualized.

(3) Includes the impact of different amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.

(4) Ratios are annualized.

(5) Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported. Ratio is not annualized.

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Summary of Significant Accounting Policies (Details)	Sep. 30, 2023
Summary of Significant Accounting Policies [Line Items]
Percentage of voting securities	25.00%
Affiliate [Member]
Summary of Significant Accounting Policies [Line Items]
Percentage of voting securities	5.00%

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Agreements and Related Party Transactions (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Feb. 18, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Agreements and Related Party Transactions [Line Items]
Percentage of base management fee				1.00%
Gross management fees		$ 400	$ 385	$ 1,147	$ 1,231
Net management fees		332	323	$ 652	688
Incentive fee, description				The portion of the incentive fee based on income is determined and paid quarterly in arrears commencing with the first calendar quarter following the Company’s election to be regulated as a BDC, and equals 15% of the pre-incentive fee net investment income in excess of a 1.5% quarterly (or 6% annually) “hurdle rate.” There are no catch-up provisions applicable to income-based incentive fees under the Investment Advisory Agreement.
Percentage of cumulative realized capital gains				15.00%
Gross income incentive fee		85		$ 161
Accrued income incentive fees			110		110
Investment advisor		68		172
Waived amount		68	62	495	543
Additional management fees				$ 323	257
Related party ownership, percentage				42.00%		43.00%
Related party ownership				$ 23,459		$ 21,458
Cash						$ 250
Directors’ fees expense		$ 20	20	$ 20	60
Investment Advisory Agreement [Member]
Agreements and Related Party Transactions [Line Items]
Targeted annual distribution percentage of net asset value per share				6.00%
Fee Waivers [Member]
Agreements and Related Party Transactions [Line Items]
Targeted annual distribution percentage of net asset value per share	6.00%
Waived amount			$ 62		$ 286

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Investments (Details) - Fair Value Measurement of Level 3 [Member]	Sep. 30, 2023
Minimum [Member]
Investments [Line Items]
Weighted rate	0.00%
Maximum [Member]
Investments [Line Items]
Weighted rate	100.00%

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Investments (Details) - Schedule of Fair Value Hierarchy Table Sets Forth Our Investments - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Schedule of Fair Value Hierarchy Table Sets Forth Our Investments [Line Items]
Term Loans	$ 133,529	$ 126,370
Collateralized Loan Obligations	2,500
Delayed Draw Loan	238	1,249
Equity	330
Total Investments	136,597	127,619
Fair Value, Inputs, Level 1 [Member]
Schedule of Fair Value Hierarchy Table Sets Forth Our Investments [Line Items]
Term Loans
Collateralized Loan Obligations
Delayed Draw Loan
Equity
Total Investments
Fair Value, Inputs, Level 2 [Member]
Schedule of Fair Value Hierarchy Table Sets Forth Our Investments [Line Items]
Term Loans	133,529	126,370
Collateralized Loan Obligations	2,500
Delayed Draw Loan	238	1,249
Equity	291
Total Investments	136,558	127,619
Fair Value, Inputs, Level 3 [Member]
Schedule of Fair Value Hierarchy Table Sets Forth Our Investments [Line Items]
Term Loans
Collateralized Loan Obligations
Delayed Draw Loan
Equity	39
Total Investments	$ 39

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Investments (Details) - Schedule of Unobservable Inputs Used In the Fair Value Measurement of Level 3 Investments $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value (in Dollars)	$ 39
Equity [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value (in Dollars)	$ 39
Valuation Technique	Illiquidity Discount
Unobservable Input	Illiquidity Discount
Weighted Average	30.00%
Minimum [Member] | Equity [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range	0.00%
Maximum [Member] | Equity [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range	100.00%

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Investments (Details) - Schedule of Certain Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Schedule of Certain Fair Value Measurements [Abstract]
Illiquidity Discount	Decreases
Illiquidity Discount	Increase

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Investments (Details) - Schedule of Changes in Investments Categorized as Level 3 - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2023	Sep. 30, 2023
Schedule of Changes in Investments Categorized as Level 3 [Line Items]
Beginning Balance		$ 477
Net realized gain (loss)
Net unrealized gain (loss)
Transfers	[1]	(477)	(477)
Acquisitions		39	516
Ending Balance		39	39
Term Loans [Member]
Schedule of Changes in Investments Categorized as Level 3 [Line Items]
Beginning Balance		166
Net realized gain (loss)
Net unrealized gain (loss)
Transfers	[1]	(166)	(166)
Acquisitions			166
Ending Balance
Equity [Member]
Schedule of Changes in Investments Categorized as Level 3 [Line Items]
Beginning Balance		311
Net realized gain (loss)
Net unrealized gain (loss)
Transfers	[1]	(311)	(311)
Acquisitions		39	350
Ending Balance		$ 39	$ 39

[1] Per ASC 820, leveling for each investment is conducted at each quarter end. Transfers between levels are made in accordance with the Company’s accounting policy.

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Earnings Per Share (Details) - Schedule of Basic and Diluted Earnings Per Share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Basic and Diluted Earnings Per Share [Abstract]
Numerator - net earnings (loss)	$ 3,176	$ (881)	$ 7,988	$ (7,963)
Denominator - weighted average shares	5,738	5,426	5,701	5,131
Net earnings (loss) per share	$ 0.55	$ (0.16)	$ 1.4	$ (1.55)

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Net Assets (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Sep. 30, 2021
Net Assets [Line Items]
Shares issued	54,347	217,516	245,507	1,180,943
Aggregate shares (in Dollars)	$ 523	$ 2,026	$ 2,274	$ 12,316
Shares of common stock	5,758,737	5,492,264	5,758,737	5,492,264	5,643,073	4,001,831
Common stock, par value (in Dollars per share)	$ 0.001		$ 0.001		$ 0.001
Assets [Member]
Net Assets [Line Items]
Shares issued	15,844		129,843
Aggregate shares (in Dollars)	$ 149		$ 1,195

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Net Assets (Details) - Schedule of Raised and the Shares Issued to Investors - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
December 31, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised			$ 59,241
Shares Issued			5,643,073
January 3, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised			$ 344
Shares Issued			38,579
February 1, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised			$ 50
Shares Issued			5,300
March 1, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised			$ 221
Shares Issued			23,458
March 31, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised			$ 59,856
Shares Issued			5,710,410
April 3, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised		$ 319
Shares Issued		34,712
April 3, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised		$ (1,046)
Shares Issued		(113,999)
May 1, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised		$ 297
Shares Issued		31,900
June 1, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised		$ 520
Shares Issued		57,211
June 30, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised		$ 59,946
Shares Issued		5,720,234
July 3, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised	$ 105
Shares Issued	11,143
July 3, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised	$ (149)
Shares Issued	(15,844)
August 1, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised	$ 247
Shares Issued	25,555
September 1, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised	$ 171
Shares Issued	17,649
September 30, 2023 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised	$ 60,320
Shares Issued	5,758,737
December 31, 2021 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 45,555
Shares Issued						4,311,321
January 7, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 4,395
Shares Issued						401,369
January 21, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 675
Shares Issued						61,059
February 4, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 725
Shares Issued						65,809
February 18, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 100
Shares Issued						9,299
March 4, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 374
Shares Issued						34,875
March 18, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 839
Shares Issued						80,506
March 31, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised						$ 52,663
Shares Issued						4,964,238
April 1, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised					$ 769
Shares Issued					72,225
April 18, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised					$ 347
Shares Issued					32,246
May 6, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised					$ 724
Shares Issued					68,479
May 20, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised					$ 861
Shares Issued					87,990
June 3, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised					$ 234
Shares Issued					23,769
June 17, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised					$ 247
Shares Issued					25,801
June 30, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised					$ 55,845
Shares Issued					5,274,748
July 1, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised				$ 563
Shares Issued				61,107
July 15, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised				$ 672
Shares Issued				73,722
August 5, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised				$ 54
Shares Issued				5,651
August 19, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised				$ 347
Shares Issued				36,028
September 2, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised				$ 30
Shares Issued				3,137
September 16, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised				$ 360
Shares Issued				37,871
September 30, 2022 [Member]
Schedule of Raised and the Shares Issued to Investors [Line Items]
Capital Raised				$ 57,871
Shares Issued				5,492,264

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Credit Facility (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 13, 2020	Mar. 22, 2022	Oct. 28, 2021	Apr. 29, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 13, 2021
Credit Facility [Line Items]
Lender maximum facility amount	$ 45,000
Pay administrative agent fee amount							$ 25
Structuring fee rate					0.25%		0.25%		0.25%	0.25%	0.25%
Unused fee payable percentage												0.70%
Maximum facility hurdle for unused fee percentage												20.00%
Advance rate increased percentage			60.00%
Facility amount percentage										0.50%	0.50%
Credit facility					$ 86,312		$ 86,312			$ 83,150
Available credit facility					8,688		8,688			11,850
Credit facility fair value					86,312		86,312			$ 83,150
Interest and debt financing expense					1,461		4,097
Average debt outstanding amount					82,142	$ 85,870	81,652	$ 81,643
Interest and debt financing expenses					$ 1,461	$ 826	$ 4,097	$ 1,670
Minimum [Member]
Credit Facility [Line Items]
Lender maximum facility amount		$ 80,000		$ 45,000
Unused fee payable percentage			67.50%
Maximum [Member]
Credit Facility [Line Items]
Lender maximum facility amount		$ 95,000		$ 80,000
Unused fee payable percentage			70.00%
BNP Credit Facility [Member]
Credit Facility [Line Items]
Weighted average interest rate					6.83%		6.83%			3.17%
Forecast [Member]
Credit Facility [Line Items]
Facility amount percentage									0.50%

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Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Unfunded Commitments [Member]
Commitments and Contingencies [Line Items]
Commitment amount		$ 74

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Financial Highlights (Details) - Schedule of Financial Highlights - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2022
Per share data:
Net asset value at beginning of period		$ 8.93	$ 10.9	$ 10.76
Net investment income (loss)	[1]	0.72	0.43	0.1
Net realized gain (loss)	[1]	(0.25)	0.05	0.58
Net change in unrealized appreciation (depreciation)	[1]	0.93	(2.03)	(0.02)
Net increase in net assets resulting from operations	[1]	1.4	(1.55)	0.66
Stockholder distributions from income	[2]	(0.57)	(0.47)	(0.5)
Other	[3]		0.03	0.1
Net asset value at end of period		$ 9.76	$ 8.91	$ 11.02
Net assets at end of period (in Dollars)		$ 56,200	$ 48,960	$ 44,086
Shares outstanding at end of period (in Shares)		5,758,737	5,492,264	4,001,831	5,643,073
Total return	[2]	16.21%	(14.46%)	7.18%
Ratio/Supplemental data:
Ratio of net expenses excluding waivers to average net assets	[4]	16.16%	10.65%	11.98%
Ratio of net expenses including waivers to average net assets	[4]	15.21%	9.55%	10.33%
Ratio of net investment income to average net assets	[4]	10.08%	5.47%	1.16%
Portfolio turnover	[5]	107.00%	83.40%	480.30%

[1] The per share data was derived by using the weighted average shares outstanding during the period.

[2] Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share, if any, divided by the beginning NAV per share. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at the quarter end NAV per share preceding the distribution. Return calculations are not annualized.

[3] Includes the impact of different amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.

[4] Ratios are annualized.

[5] Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported. Ratio is not annualized.

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Subsequent Events (Details) - USD ($) $ / shares in Thousands, $ in Thousands	Nov. 01, 2023	Oct. 02, 2023	Oct. 18, 2023
Subsequent Events (Details) [Line Items]
Shares issued	10,345
Offering price (in Dollars per share)	$ 100
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Sale of shares issued		587,724,000
Aggregate offering price (in Dollars)		$ 5,736
Payment of shares tendered (in Dollars)			$ 79
Shares tendered and accepted			8,141,000