Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

5. Commitments and Contingencies

The Fund conducts business with brokers and dealers that are primarily headquartered in New York and Los Angeles and are members of the major securities exchanges. Banking activities are conducted with a firm headquartered in the Boston area.

In the normal course of business, investment activities involve executions, settlement and financing of various transactions resulting in receivables from, and payables to, brokers, dealers, and the custodian. These activities may expose the Fund to risk in the event that such parties are unable to fulfill contractual obligations. Management does not anticipate any material losses from counterparties with whom it conducts business. Consistent with standard business practice, the Fund enters into contracts that contain a variety of indemnifications and is engaged from time to time in various legal actions. The maximum exposure under these arrangements and activities is unknown. However, management expects the risk of material loss to be remote.

The Consolidated Schedule of Investments include certain revolving loan facilities and other commitments with unfunded balances at March 31, 2023 and December 31, 2022 as follows:

		Unfunded Balances
Issuer	Maturity Date	March 31, 2023		December 31, 2022
Accordion Partners LLC	8/29/2029	$	346,915	$	624,447
Accordion Partners LLC	8/31/2028		208,149		277,532
Alcami Corporation	12/21/2028		83,235		83,235
Alcami Corporation	12/21/2028		133,176		133,176
Alera Group, Inc.	9/30/2028		112,523		244,494
AmeriLife Holdings, LLC	8/31/2029		251,663		251,663
AmeriLife Holdings, LLC	8/31/2028		377,494		377,494
athenahealth Group Inc.	2/15/2029		109,783		109,783
Avalara, Inc.	10/19/2028		377,651		377,651
Bynder Bidco B.V. (Netherlands)	1/26/2029		171,174	N/A
Bynder Bidco, Inc. (Netherlands)	1/26/2029		47,160	N/A
Cherry Bekaert Advisory LLC	6/30/2028		499,136		499,136
Cherry Bekaert Advisory LLC	6/30/2028		313,078		313,078
Disco Parent, Inc. (Duck Creek)	3/30/2029		232,723	N/A
Freedom Financial Network Funding, LLC	9/21/2027		891,790		891,790
Fusion Holding Corp. (Finalsite)	9/15/2027		371,133		371,133
Fusion Risk Management, Inc.	8/30/2028		313,806		313,806
GTY Technology Holdings Inc.	7/9/2029		264,374		264,374
Integrity Marketing Acquisition, LLC	8/27/2025		2,989,762		2,989,762
LJ Avalon Holdings, LLC (Ardurra)	2/1/2030		307,668	N/A
LJ Avalon Holdings, LLC (Ardurra)	2/1/2029		123,067	N/A
Madison Logic Holdings, Inc.	12/30/2027		163,029		163,029
Opco Borrower, LLC (Giving Home Health Care)	8/19/2027		193,180		154,544
Oranje Holdco, Inc. (KnowBe4)	2/1/2029		180,686	N/A
Pueblo Mechanical and Controls, LLC	8/23/2028		211,418		626,684
Pueblo Mechanical and Controls, LLC	8/23/2027		177,863		237,151
Showtime Acquisition, L.L.C.	8/7/2028		197,914	N/A
Showtime Acquisition, L.L.C.	8/7/2028		158,331	N/A
Vensure Employer Services, Inc.	3/26/2027		2,227,022		2,642,481
Zendesk, Inc.	11/22/2028		610,938		610,938
Zendesk, Inc.	11/22/2028		251,563		251,563
GC Champion Acquisition LLC (Numerix)	8/21/2028	N/A			654,568
Streamland Media Midco LLC	8/31/2023	N/A			1,125,859
Total Unfunded Balances		$	12,897,404	$	14,589,371