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Commitment and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Loss Contingencies by Contingency The balances of unused commitments to extend financing as of December 31, 2024 and 2023 were as follows:
Portfolio Company(1)
($ in thousands)
Investment TypeDecember 31, 2024December 31, 2023
Accurus Aerospace Corporation(2)Revolver$277 $380 
AD Bidco, Inc.Delayed Draw Term Loan5,035 — 
AD Bidco, Inc.Revolver1,863 — 
Adhefin International(2)(3)Delayed Draw Term Loan393 419 
AirX Climate Solutions, Inc.Delayed Draw Term Loan10,387 — 
AirX Climate Solutions, Inc.(2)Delayed Draw Term Loan— 5,010 
AirX Climate Solutions, Inc.Revolver3,460 2,050 
AlliA Insurance Brokers NV(2)(3)Delayed Draw Term Loan259 1,634 
Americo Chemical Products, LLCRevolver1,400 1,400 
Amtech LLCRevolver— 291 
Anju Software, Inc.(2)Delayed Draw Term Loan— 36 
Aquavista Watersides 2 LTD(2)(4)Capex / Acquisition Facility1,012 1,030 
Arc Education(3)Delayed Draw Term Loan1,988 2,576 
Argus Bidco Limited(2)(4)Capex / Acquisition Facility715 1,083 
Artemis Bidco Limited(2)(3)Delayed Draw Term Loan663 — 
ASC Communications, LLCRevolver647 647 
Astra Bidco Limited(2)(4)Delayed Draw Term Loan265 729 
ATL II MRO Holdings Inc.Revolver6,410 2,500 
Avance Clinical Bidco Pty Ltd(2)(5)Delayed Draw Term Loan1,381 1,522 
AWP Group Holdings, Inc.Delayed Draw Term Loan— 237 
Azalea Buyer, Inc.Delayed Draw Term Loan644 644 
Azalea Buyer, Inc.Revolver481 481 
Basin Innovation Group, LLC(2)Delayed Draw Term Loan2,061 — 
Basin Innovation Group, LLC(2)Revolver1,781 — 
Beyond Risk Management, Inc.Delayed Draw Term Loan29,829 — 
Beyond Risk Management, Inc.Delayed Draw Term Loan— 2,007 
Biolam Group(2)(3)Delayed Draw Term Loan1,414 1,508 
BKF Buyer, Inc. Revolver2,846 — 
Bounteous, Inc.Delayed Draw Term Loan— 2,697 
Brightpay Limited(2)(3)Delayed Draw Term Loan183 195 
BrightSign LLCRevolver203 370 
British Engineering Services Holdco Limited(2)(4)Capex / Acquisition Facility46 92 
Portfolio Company(1)
($ in thousands)
Investment TypeDecember 31, 2024December 31, 2023
CAi Software, LLCRevolver1,870 943 
Caldwell & Gregory LLCDelayed Draw Term Loan6,625 — 
Caldwell & Gregory LLCRevolver5,000 — 
Canadian Orthodontic Partners Corp.(2)(6)Delayed Draw Term Loan63 — 
Cascade Residential Services LLC(2)Delayed Draw Term Loan2,459 7,765 
Cascade Residential Services LLC(2)Revolver— 1,294 
CCFF Buyer, LLCDelayed Draw Term Loan1,338 — 
CCFF Buyer, LLCRevolver1,004 — 
CGI Parent, LLCRevolver1,653 1,653 
Classic Collision (Summit Buyer, LLC)Delayed Draw Term Loan— 8,666 
Comply365, LLCRevolver575 575 
Cosmelux International(2)(3)Revolver235 — 
Coyo Uprising GmbH(2)(3)Delayed Draw Term Loan490 523 
DataServ Integrations, LLCRevolver481 481 
DecksDirect, LLC(2)Revolver34 381 
Direct Travel, Inc.Delayed Draw Term Loan— 87 
DISA Holdings Corp.Delayed Draw Term Loan2,265 — 
DISA Holdings Corp.Delayed Draw Term Loan— 1,072 
DISA Holdings Corp.Revolver1,282 339 
Dune Group(2)(3)Delayed Draw Term Loan985 1,050 
Dwyer Instruments, Inc.(2)Delayed Draw Term Loan— 171 
EB Development(2)(3)Delayed Draw Term Loan2,060 — 
Eclipse Business Capital, LLCRevolver8,920 12,128 
Electrical Components International, Inc.(2)Delayed Draw Term Loan1,170 — 
EMI Porta Holdco LLC(2)Revolver1,932 346 
eShipping, LLCRevolver743 743 
Eurofins Digital Testing International LUX Holding SARL(2)(3)Delayed Draw Term Loan— 2,731 
Events Software BidCo Pty Ltd(2)Delayed Draw Term Loan620 620 
Express Wash Acquisition Company, LLC(2)Revolver115 115 
Faraday(3)Delayed Draw Term Loan1,856 1,980 
Finaxy Holding(2)(3)Delayed Draw Term Loan5,841 — 
Finexvet(2)(3)Delayed Draw Term Loan— 1,943 
Footco 40 Limited(2)(4)Delayed Draw Term Loan515 524 
Forest Buyer, LLCRevolver595 — 
Fortis Payment Systems, LLC(2)Delayed Draw Term Loan1,320 — 
Fortis Payment Systems, LLC(2)Revolver2,288 — 
GB Eagle Buyer, Inc.Delayed Draw Term Loan2,891 — 
GB Eagle Buyer, Inc.Revolver2,895 3,226 
GCDL LLCDelayed Draw Term Loan108 — 
GCDL LLCRevolver108 — 
Glacis Acquisition S.A.R.L.(2)(3)Delayed Draw Term Loan213 5,348 
Global Academic Group Limited(2)(7)Term Loan233 414 
Portfolio Company(1)
($ in thousands)
Investment TypeDecember 31, 2024December 31, 2023
GPNZ II GmbH(2)(3)Delayed Draw Term Loan49 — 
GPNZ II GmbH(2)(3)Delayed Draw Term Loan— 53 
Graphpad Software, LLCDelayed Draw Term Loan5,023 — 
Graphpad Software, LLCRevolver2,093 — 
Greenhill II BV(3)Capex / Acquisition Facility28 120 
Groupe Product Life(2)(3)Delayed Draw Term Loan5,832 — 
Gusto Aus BidCo Pty Ltd(5)Delayed Draw Term Loan— 167 
HeartHealth Bidco Pty Ltd(2)(5)Delayed Draw Term Loan164 253 
Heavy Construction Systems Specialists, LLCRevolver2,193 2,193 
HEKA Invest(3)Delayed Draw Term Loan1,078 1,150 
HemaSource, Inc.Revolver3,290 2,590 
HomeX Services Group LLCDelayed Draw Term Loan6,503 8,446 
HomeX Services Group LLCRevolver3,378 3,378 
HTI Technology & Industries(2)Delayed Draw Term Loan1,691 1,691 
HTI Technology & Industries(2)Revolver1,128 1,128 
Hydratech Holdings, Inc. Delayed Draw Term Loan1,654 — 
Hydratech Holdings, Inc. Revolver885 — 
Ice House America, L.L.C.(2)Delayed Draw Term Loan1,224 — 
Ice House America, L.L.C.(2)Revolver385 — 
Infoniqa Holdings GmbH(2)(3)Capex / Acquisition Facility3,999 — 
Innovad Group II BV(2)(3)Delayed Draw Term Loan— 42 
INOS 19-090 GmbH(2)(3)Capex / Acquisition Facility— 171 
Interstellar Group B.V.(2)(3)Delayed Draw Term Loan1,163 1,241 
Interstellar Group B.V.(2)(3)Delayed Draw Term Loan— 115 
InvoCare Limited(2)(5)Delayed Draw Term Loan550 773 
Isolstar Holding NV (IPCOM)(3)Delayed Draw Term Loan— 1,313 
ISTO Technologies II, LLCRevolver1,114 1,114 
ITI Intermodal, Inc.Revolver1,031 1,157 
Jon Bidco Limited(2)(7)Capex / Acquisition Facility380 588 
Jones Fish Hatcheries & Distributors LLCRevolver418 418 
Kano Laboratories LLCDelayed Draw Term Loan— 860 
Kano Laboratories LLCDelayed Draw Term Loan— 724 
Keystone Bidco B.V.(2)(3)Delayed Draw Term Loan185 — 
Keystone Bidco B.V.(2)(3)Revolver28 — 
Lambir Bidco Limited(2)(3)Delayed Draw Term Loan471 734 
Lattice Group Holdings Bidco Limited(2)Delayed Draw Term Loan237 255 
Lattice Group Holdings Bidco Limited(2)Revolver35 18 
LeadsOnline, LLCRevolver3,190 2,679 
Marmoutier Holding B.V.(2)(3)Delayed Draw Term Loan23 18 
Marmoutier Holding B.V.(2)(3)Revolver65 106 
Marshall Excelsior Co.(2)Revolver— 115 
MB Purchaser, LLCDelayed Draw Term Loan2,060 — 
MB Purchaser, LLCRevolver824 — 
Portfolio Company(1)
($ in thousands)
Investment TypeDecember 31, 2024December 31, 2023
MC Group Ventures Corporation(2)Delayed Draw Term Loan7,825 — 
MC Group Ventures Corporation(2)Delayed Draw Term Loan435 435 
Media Recovery, Inc. (SpotSee)(2)Revolver1,944 — 
Media Recovery, Inc. (SpotSee)(2)(4)Revolver2,270 — 
Megawatt Acquisitionco, Inc.(2)Revolver1,426 — 
Mercell Holding AS(2)(8)Capex / Acquisition Facility691 773 
Modern Star Holdings Bidco Pty Limited(2)(5)Term Loan470 518 
Modern Star Holdings Bidco Pty Limited(2)(5)Term Loan54 59 
Moonlight Bidco Limited(2)(4)Delayed Draw Term Loan552 562 
Narda Acquisitionco., Inc.Revolver1,059 1,059 
NAW Buyer LLCDelayed Draw Term Loan8,992 9,223 
NAW Buyer LLCRevolver2,306 1,845 
NeoxCo(2)(3)Delayed Draw Term Loan— 497 
Next Holdco, LLCDelayed Draw Term Loan5,984 5,984 
Next Holdco, LLCRevolver2,321 2,321 
NF Holdco, LLC(2)Revolver1,109 887 
Northstar Recycling, LLC(2)Delayed Draw Term Loan4,381 — 
Northstar Recycling, LLC(2)Revolver3,598 — 
Novotech Aus Bidco Pty LtdCapex / Acquisition Facility— 971 
NPM Investments 28 B.V.(3)Delayed Draw Term Loan898 958 
OA Buyer, Inc.Revolver1,331 1,331 
OAC Holdings I CorpRevolver1,370 1,370 
Omni Intermediate Holdings, LLCDelayed Draw Term Loan— 806 
Oracle Vision Bidco Limited(2)(4)Delayed Draw Term Loan1,139 — 
OSP Hamilton Purchaser, LLC(2)Delayed Draw Term Loan4,255 5,319 
OSP Hamilton Purchaser, LLC(2)Revolver964 1,607 
Pare SAS (SAS Maurice MARLE)(2)Delayed Draw Term Loan2,100 2,100 
Parkview Dental Holdings LLC(2)Delayed Draw Term Loan328 328 
PDQ.Com Corporation(2)Delayed Draw Term Loan3,939 3,939 
PDQ.Com Corporation(2)Delayed Draw Term Loan1,814 2,679 
Polara Enterprises, L.L.C.Revolver947 947 
PowerGEM Buyer, Inc.(2)Delayed Draw Term Loan7,153 — 
PowerGEM Buyer, Inc.(2)Revolver3,730 — 
Premium Invest(2)(3)Capex / Acquisition Facility1,204 1,284 
Process Insights Acquisition, Inc.(2)Delayed Draw Term Loan1,220 1,220 
Process Insights Acquisition, Inc.(2)Revolver136 — 
Process Insights Acquisition, Inc.(2)Revolver— 1,323 
ProfitOptics, LLC(2)Revolver97 84 
Protego Bidco B.V.(2)(3)Delayed Draw Term Loan— 211 
Pro-Vision Solutions Holdings, LLCRevolver3,318 — 
PSP Intermediate 4, LLC(2)(3)Delayed Draw Term Loan193 206 
Qualified Industries, LLC(2)Revolver364 364 
Portfolio Company(1)
($ in thousands)
Investment TypeDecember 31, 2024December 31, 2023
Questel Unite(2)(3)Incremental Term Loan— 2,795 
R1 Holdings, LLCDelayed Draw Term Loan— 1,682 
R1 Holdings, LLCRevolver1,601 1,947 
Randys Holdings, Inc.Delayed Draw Term Loan3,877 5,516 
Randys Holdings, Inc.Revolver1,539 1,658 
Rapid Buyer LLC(2)Delayed Draw Term Loan2,833 — 
Rapid Buyer LLC(2)Revolver1,417 — 
Rocade Holdings LLCPreferred Equity2,000 2,000 
Rock Labor LLC(2)Revolver941 941 
ROI Solutions LLC(2)Delayed Draw Term Loan3,485 — 
ROI Solutions LLC(2)Revolver3,120 — 
Royal Buyer, LLCDelayed Draw Term Loan1,531 — 
Royal Buyer, LLCDelayed Draw Term Loan— 1,229 
Royal Buyer, LLCRevolver2,330 1,787 
RPX CorporationRevolver4,919 — 
Saab Purchaser, Inc. (2)Delayed Draw Term Loan7,660 — 
Saab Purchaser, Inc. (2)Revolver3,830 — 
Sanoptis S.A.R.L.(2)(3)Capex / Acquisition Facility— 2,186 
Sanoptis S.A.R.L.(2)(3)Capex / Acquisition Facility— 42 
Sanoptis S.A.R.L.(2)(3)Term Loan2,456 — 
Sansidor BV(2)(3)Capex / Acquisition Facility989 — 
SBP Holdings LPDelayed Draw Term Loan15,924 — 
SBP Holdings LPDelayed Draw Term Loan6,504 15,062 
SBP Holdings LPDelayed Draw Term Loan— 151 
SBP Holdings LPRevolver5,467 1,065 
Scaled Agile, Inc.(2)Revolver— 280 
Scout Bidco B.V.(2)(3)Revolver500 320 
Simulation Software Investment Company Pty Ltd(2)Delayed Draw Term Loan— 408 
Sinari Invest(2)(3)Delayed Draw Term Loan449 617 
SISU ACQUISITIONCO., INC.(2)Delayed Draw Term Loan80 160 
Skyvault Holdings LLCDelayed Draw Term Loan24,262 — 
Smartling, Inc.Revolver1,038 1,038 
SmartShift Group, Inc.Delayed Draw Term Loan— 5,690 
SmartShift Group, Inc.Revolver2,731 2,731 
Solo Buyer, L.P.(2)Revolver1,463 1,330 
Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.)Delayed Draw Term Loan232 399 
Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.)Revolver156 90 
SPATCO Energy Solutions, LLCDelayed Draw Term Loan5,086 — 
SPATCO Energy Solutions, LLCRevolver4,159 — 
Spatial Business Systems LLCDelayed Draw Term Loan— 1,875 
Spatial Business Systems LLCRevolver1,406 1,406 
Portfolio Company(1)
($ in thousands)
Investment TypeDecember 31, 2024December 31, 2023
SSCP Pegasus Midco Limited(2)(4)Delayed Draw Term Loan215 398 
Superjet Buyer, LLC(2)Delayed Draw Term Loan14,512 — 
Superjet Buyer, LLC(2)Revolver3,980 1,369 
SVI International LLCDelayed Draw Term Loan74 — 
SVI International LLCRevolver74 — 
Syntax Systems LtdRevolver— 358 
Tank Holding Corp(2)Delayed Draw Term Loan307 — 
Tank Holding Corp(2)Delayed Draw Term Loan— 1,358 
Tank Holding Corp(2)Revolver655 480 
Tanqueray Bidco Limited(4)Capex / Acquisition Facility1,133 1,153 
TAPCO Buyer LLC(2)Delayed Draw Term Loan11,198 — 
TAPCO Buyer LLC(2)Revolver4,072 — 
Technology Service Stream BidCo Pty Ltd(2)(5)Delayed Draw Term Loan233 — 
Techone B.V.(2)(3)Revolver228 146 
Tencarva Machinery Company, LLCRevolver2,554 1,129 
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)Delayed Draw Term Loan— 2,724 
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)Revolver1,233 1,233 
The Cleaver-Brooks Company, Inc.Revolver— 2,768 
The Hilb Group, LLC(2)Delayed Draw Term Loan— 672 
THG Acquisition, LLC(2)Delayed Draw Term Loan2,204 — 
THG Acquisition, LLC(2)Revolver1,343 — 
Trader Corporation(6)Revolver— 354 
Trintech, Inc.Revolver1,020 1,020 
TSYL Corporate Buyer, Inc.(2)Delayed Draw Term Loan23,563 — 
TSYL Corporate Buyer, Inc.(2)Delayed Draw Term Loan— 2,244 
TSYL Corporate Buyer, Inc.(2)Delayed Draw Term Loan— 1,469 
TSYL Corporate Buyer, Inc.(2)Revolver443 642 
Turbo Buyer, Inc.(2)Delayed Draw Term Loan— 1,509 
UBC Ledgers Holding AB(2)(9)Delayed Draw Term Loan234 840 
UBC Ledgers Holding AB(2)(9)Revolver— 278 
UHY Advisors, Inc.(2)Delayed Draw Term Loan14,992 — 
UHY Advisors, Inc.(2)Revolver3,968 — 
Union Bidco Limited(4)Capex / Acquisition Facility177 222 
United Therapy Holding III GmbH(2)(3)Capex / Acquisition Facility596 636 
Unither (Uniholding)(2)(3)Delayed Draw Term Loan449 479 
USLS Acquisition, Inc. (f/k/a US Legal Support, Inc.)(2)Delayed Draw Term Loan— 2,360 
W2O Holdings, Inc.(2)Delayed Draw Term Loan— 107 
WEST-NR ACQUISITIONCO, LLC(2)Delayed Draw Term Loan31,650 — 
WEST-NR ACQUISITIONCO, LLC(2)Delayed Draw Term Loan4,831 3,750 
Whitcraft Holdings, Inc.(2)Delayed Draw Term Loan18,199 — 
Whitcraft Holdings, Inc.(2)Revolver1,190 2,347 
Portfolio Company(1)
($ in thousands)
Investment TypeDecember 31, 2024December 31, 2023
White Bidco LimitedDelayed Draw Term Loan514 514 
Woodland Foods, LLC(2)Line of Credit852 492 
World 50, Inc.Revolver1,703 — 
WWEC Holdings III CorpDelayed Draw Term Loan6,627 — 
WWEC Holdings III CorpRevolver3,359 1,514 
Xeinadin Bidco Limited(2)(4)Capex / Acquisition Facility5,297 — 
Xeinadin Bidco Limited(2)(4)Capex / Acquisition Facility— 4,125 
ZB Holdco LLC(2)Delayed Draw Term Loan2,084 — 
ZB Holdco LLC(2)Delayed Draw Term Loan— 2,932 
ZB Holdco LLC(2)Revolver338 845 
Zeppelin Bidco Limited(2)(4)Capex / Acquisition Facility— 1,333 
Total unused commitments to extend financing$550,799 $267,681 
(1)The Adviser’s estimate of the fair value of the current investments in these portfolio companies includes an analysis of the fair value of any unfunded commitments.
(2)Represents a commitment to extend financing to a portfolio company where one or more of the Company’s current investments in the portfolio company are carried at less than cost.
(3)Actual commitment amount is denominated in Euros. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(4)Actual commitment amount is denominated in British pounds sterling. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(5)Actual commitment amount is denominated in Australian dollars. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(6)Actual commitment amount is denominated in Canadian dollars. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(7)Actual commitment amount is denominated in New Zealand dollars. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(8)Actual commitment amount is denominated in Norwegian kroner. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(9)Actual commitment amount is denominated in Swedish kronor. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.