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Fair Value Measurement of Investments - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 732,215 [1],[2],[3],[4] $ 557,087 [5],[6],[7],[8],[9]
First lien senior secured loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 679,742 540,195
Equity    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 45,662 12,028
Subordinated debt    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 3,293 1,712
Preferred equity    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 2,018 1,652
Convertible note    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,500 1,500
Warrants    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 732,215 557,087
Level 3 | First lien senior secured loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 679,742 540,195
Level 3 | First lien senior secured loans | Discounted Cash Flow    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 517,024 404,750
Level 3 | First lien senior secured loans | Waterfall Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 40,090  
Level 3 | First lien senior secured loans | Amortized Cost    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 122,628 95,545
Level 3 | First lien senior secured loans | Comparable Multiples    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value   $ 39,900
Level 3 | First lien senior secured loans | Discount Rate | Discounted Cash Flow | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 0.106 0.112
Level 3 | First lien senior secured loans | Discount Rate | Discounted Cash Flow | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 0.082 0.084
Level 3 | First lien senior secured loans | Discount Rate | Discounted Cash Flow | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 0.205 0.189
Level 3 | First lien senior secured loans | EV/EBITDA | Waterfall Analysis | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 6.3  
Level 3 | First lien senior secured loans | EV/EBITDA | Waterfall Analysis | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 5.5  
Level 3 | First lien senior secured loans | EV/EBITDA | Waterfall Analysis | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 7  
Level 3 | First lien senior secured loans | EV/EBITDA | Comparable Multiples | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   6.3
Level 3 | First lien senior secured loans | EV/EBITDA | Comparable Multiples | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   5.5
Level 3 | First lien senior secured loans | EV/EBITDA | Comparable Multiples | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   7
Level 3 | Equity    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 45,662 $ 12,028
Level 3 | Equity | Waterfall Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 6,856  
Level 3 | Equity | Amortized Cost    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 38,806 7,028
Level 3 | Equity | Comparable Multiples    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value   $ 5,000
Level 3 | Equity | EV/EBITDA | Waterfall Analysis | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 5.8  
Level 3 | Equity | EV/EBITDA | Waterfall Analysis | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 5.5  
Level 3 | Equity | EV/EBITDA | Waterfall Analysis | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 6  
Level 3 | Equity | EV/EBITDA | Comparable Multiples | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   6.3
Level 3 | Equity | EV/EBITDA | Comparable Multiples | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   6
Level 3 | Equity | EV/EBITDA | Comparable Multiples | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   6.5
Level 3 | Subordinated debt    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 3,293 $ 1,712
Level 3 | Subordinated debt | Discounted Cash Flow    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,808 $ 1,712
Level 3 | Subordinated debt | Amortized Cost    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 1,485  
Level 3 | Subordinated debt | Discount Rate | Discounted Cash Flow | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 0.148 0.148
Level 3 | Subordinated debt | Discount Rate | Discounted Cash Flow | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 0.140 0.140
Level 3 | Subordinated debt | Discount Rate | Discounted Cash Flow | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 0.155 0.155
Level 3 | Preferred equity    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 2,018 $ 1,652
Level 3 | Preferred equity | Waterfall Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 2,018  
Level 3 | Preferred equity | Comparable Multiples    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value   $ 1,652
Level 3 | Preferred equity | EV/EBITDA | Waterfall Analysis | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 7  
Level 3 | Preferred equity | EV/EBITDA | Waterfall Analysis | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 6.8  
Level 3 | Preferred equity | EV/EBITDA | Waterfall Analysis | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 7.3  
Level 3 | Preferred equity | EV/EBITDA | Comparable Multiples | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   8.5
Level 3 | Preferred equity | EV/EBITDA | Comparable Multiples | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   8.3
Level 3 | Preferred equity | EV/EBITDA | Comparable Multiples | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   8.8
Level 3 | Convertible note    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 1,500 $ 1,500
Level 3 | Convertible note | Amortized Cost    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,500 1,500
Level 3 | Warrants    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Level 3 | Warrants | Waterfall Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 0  
Level 3 | Warrants | Comparable Multiples    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value   $ 0
Level 3 | Warrants | EV/EBITDA | Waterfall Analysis | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 7.3  
Level 3 | Warrants | EV/EBITDA | Waterfall Analysis | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 5.5  
Level 3 | Warrants | EV/EBITDA | Waterfall Analysis | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input 8.5  
Level 3 | Warrants | EV/EBITDA | Comparable Multiples | Weighted Average Mean    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   7
Level 3 | Warrants | EV/EBITDA | Comparable Multiples | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   5.5
Level 3 | Warrants | EV/EBITDA | Comparable Multiples | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment owned, fair value, measurement input   8
[1]
Unless otherwise indicated, all investments are considered Level 3 investments. The fair value of the investment was determined using significant unobservable inputs. See Note 4 "Fair Value Measurement of
Investments."
[2]
Securities exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), and may be deemed to be “restricted securities”. Except as noted by this footnote, all of the instruments
on this table are subject to restrictions on resale.
[3]
Industries are classified by The Global Industry Classification Standard ("GICS").
[4]
All investments are denominated in U.S. dollars unless otherwise noted.
[5]
Unless otherwise indicated, all investments are considered Level 3 investments. The fair value of the investment was determined using significant unobservable inputs. See Note 4 "Fair Value Measurement of
Investments."
[6]
Securities exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), and may be deemed to be “restricted securities”. Except as noted by this footnote, all of the instruments on
this table are subject to restrictions on resale.
[7]
Represents an investment that is not a “qualifying asset” under Section 55(a) of the Investment Company Act of 1940, as amended (the 1940 Act”). As of December 31, 2024, non-qualifying assets represent
0.9% of the Company’s portfolio at fair value. As a BDC, the Company generally has to invest at least 70% of its total assets in qualifying assets.
[8]
Industries are classified by The Global Industry Classification Standard ("GICS").
[9]
All investments are denominated in U.S. dollars unless otherwise noted. The prior year table has been modified to conform to the current year.