Investment Valuations and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Summary by Major Security Type of Fair Valuation According to Inputs Used in Valuing Investments

The following is a summary by major security type of the fair valuations according to inputs used in valuing investments listed in the Consolidated Schedule of Investments as of March 31, 2024:

Investments	Level 1		Level 2		Level 3		Total
Debt	$	—	$	—	$	132,238	$	132,238
Short- term investments		29,577		—		—		29,577
Cash equivalents		4,735		—		—		4,735
Total	$	34,312	$	—	$	132,238	$	166,550

The following is a summary by major security type of the fair valuations according to inputs used in valuing investments listed in the Consolidated Schedule of Investments as of December 31, 2023:

Investments	Level 1		Level 2		Level 3		Total
Debt	$	—	$	—	$	118,178	$	118,178
Short- term investments		34,438		—		—		34,438
Cash equivalents		4,676		—		—		4,676
Total	$	39,114	$	—	$	118,178	$	157,292

Summary of Reconciliation of Balances for Total Investments

The following table provides a reconciliation of the beginning and ending balances for total investments that use Level 3 inputs for the three months ended March 31, 2024:

	Debt			Equity		Total
Balance, January 1, 2024	$	118,178		$	—	$	118,178
Purchases, including payments received in-kind		16,920			—		16,920
Sales and paydowns of investments		(2,443	)		—		(2,443	)
Amortization of premium and accretion of discount, net		179			—		179
Net realized gains		26			—		26
Net change in unrealized appreciation/(depreciation)		(622	)		—		(622	)
Balance, March 31, 2024	$	132,238		$	—	$	132,238
Change in net unrealized appreciation/(depreciation) in investments held as of March 31, 2024	$	(622	)	$	—	$	(622	)

The following table provides a reconciliation of the beginning and ending balances for total investments that use Level 3 inputs for the three months ended March 31, 2023:

	Debt			Equity		Total
Balance, January 1, 2023	$	10,150		$	—	$	10,150
Purchases, including payments received in-kind		26,410			—		26,410
Sales and paydowns of investments		(52	)		—		(52	)
Amortization of premium and accretion of discount, net		13			—		13
Net change in unrealized appreciation/(depreciation)		(14	)		—		(14	)
Balance, March 31, 2023	$	36,507		$	—	$	36,507
Change in net unrealized appreciation/(depreciation) in investments held as of March 31, 2023	$	57		$	—	$	57

Summary of Valuation Techniques and Quantitative Information

The following table summarizes the valuation techniques and quantitative information utilized in determining the fair value of the Level 3 investments as of March 31, 2024:

Investment Type	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average*	Impact to Valuation if Input Increases
Debt	$	119,381	Income Method	Discount Rate	10.7% to 17.5%	13.0%	Decrease
Debt	$	12,857	Market Method	Indicative Bid	96.0% to 100.0%	N/A	Increase

* Weighted based on fair value

The following table summarizes the valuation techniques and quantitative information utilized in determining the fair value of the Level 3 investments as of December 31, 2023:

Investment Type	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average*	Impact to Valuation if Input Increases
Debt	$	118,178	Income Method	Discount Rate	10.3% to 16.3%	12.7%	Decrease

* Weighted based on fair value