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Consolidated Schedule of Investments (Parenthetical) - 9 months ended Dec. 31, 2022
€ in Thousands, £ in Thousands, $ in Thousands
USD ($)
EUR (€)
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GBP (£)
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USD ($)
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Percentage of non-qualifying assets 2.30%      
Percentage of minimum qualifying assets to purchase non qualifying assets 70.00%      
Minimum percentage of voting securities 5.00%      
Estimated cost basis of investments for U.S. federal tax purposes       $ 810,241
Estimated gross unrealized gains on tax cost investment $ 2,806      
Estimated gross unrealized loss on tax cost investment 5,681      
Fair value of securities as percentage of net assets amount       $ 7,806
Fair value of securities as percentage of net assets in percentage   1.40% 1.40% 1.40%
U.S. Federal Tax        
Estimated cost basis of investments for U.S. federal tax purposes       $ 810,241
Estimated gross unrealized gains on tax cost investment 2,806      
Estimated gross unrealized loss on tax cost investment $ 5,681      
Controlled, Affiliated Investments        
Minimum percentage of voting securities 25.00%      
Debt Investments | Business Services | Hornetsecurity Holding GmbH | First-lien Loan due 11/2029        
Investment, par | € [1],[2],[3],[4]   € 3,150    
Investment due date [1],[2],[3],[4] 2029-11      
Debt Investments | Business Services | OutSystems Luxco SARL | First-lien Loan due 12/2028        
Investment, par | € [1],[2],[3],[4],[5]   3,004    
Investment due date [1],[2],[3],[4],[5] 2028-12      
Debt Investments | Chemicals | Erling Lux Bidco SARL | First-lien Loan due 9/2028        
Investment, par | € [1],[2],[3],[4]   € 7,239    
Investment due date [1],[2],[3],[4] 2028-09      
Debt Investments | Chemicals | Erling Lux Bidco SARL | First-lien Loan due 9/2028        
Investment, par | £ [1],[2],[3],[4]     £ 10,217  
Investment due date [1],[2],[3],[4] 2028-09      
Debt Investments | Financial Services | BTRS Holdings, Inc. | First-lien Loan due 12/2028        
Investment, par [1],[2],[4]       135,540
Investment due date [1],[2],[4] 2028-12      
Debt Investments | Financial Services | Ping Identity Holding Corp. | First-lien Loan due 10/2029        
Investment, par [1],[2],[4]       136,364
Investment due date [1],[2],[4] 2029-10      
Debt Investments | Human Resource Support Services | Bswift, LLC | First-lien Loan due 11/2028        
Investment, par [1],[2],[4],[5]       142,394
Investment due date [1],[2],[4],[5] 2028-11      
Debt Investments | Internet Services | SMA Technologies Holdings, LLC | First-lien Loan due 10/2028        
Investment, par [1],[2],[4],[5]       5,667
Investment due date [1],[2],[4],[5] 2028-10      
Debt Investments | Manufacturing | Avalara, Inc. | First-lien Loan due 10/2028        
Investment, par [1],[2],[4]       136,364
Investment due date [1],[2],[4] 2028-10      
Debt Investments | Retail and Consumer Products | Bed Bath and Beyond Inc. | ABL FILO Term due 8/2027        
Investment, par [1],[2],[4]       100,000
Investment due date [1],[2],[4] 2027-08      
Debt Investments | Retail and Consumer Products | Commercehub, Inc. | First-lien Loan due 12/2027        
Investment, par [1],[2],[4]       $ 150,000
Investment due date [1],[2],[4] 2027-12      
Equity and Other Investments | Human Resource Support Services | Bswift, LLC | Class A-1 Units        
Investment, shares | shares [1],[4],[6],[7]   7,606,491 7,606,491 7,606,491
Equity and Other Investments | Internet Services | SMA Technologies Holdings, LLC | Class A Units        
Investment, shares | shares [1],[4],[6],[7]   200 200 200
Equity and Other Investments | Internet Services | SMA Technologies Holdings, LLC | Class B Units        
Investment, shares | shares [1],[4],[6],[7]   142,038 142,038 142,038
[1] Certain portfolio company investments are subject to contractual restrictions on sales.
[2] Investment contains a variable rate structure, subject to an interest rate floor. Variable rate investments bear interest at a rate that
may be determined by reference to either Euro Interbank Offer Rate (“Euribor” or “E”), Secured Overnight Financing Rate (“SOFR”) which may also contain a credit spread adjustment depending on the tenor election, Sterling Overnight Interbank Average Rate ("SONIA" or "S"), or an alternate base rate (which can include the Federal Funds Effective Rate or the Prime Rate or “P”), all of which include an available tenor, selected at the borrower’s option, which reset periodically based on the terms of the credit agreement. For investments with multiple interest rate contracts, the interest rate shown is the weighted average interest rate in effect at
December 31, 2022.
[3] This portfolio company is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. Non-qualifying assets represented 2.3% of total assets as of December 31, 2022.
[4] Unless otherwise indicated, the Company’s portfolio companies are domiciled in the United States. Under the Investment Company Act of 1940, as amended (the “1940 Act”), the Company would “control” a portfolio company if the Company owned
more than
25% of its outstanding voting securities and/or had the power to exercise control over the management or policies of
such portfolio company. As of
December 31, 2022, the Company does not “control” any of the portfolio companies. Also under the Investment Company Act of 1940, as amended (the “1940 Act”), the Company would be deemed to be an "Affiliated Person" of a portfolio company if the Company owns more than 5% of the portfolio company's outstanding voting securities. As of December 31, 2022, the Company does not identify any of its portfolio companies as affiliates.
[5] In addition to the interest earned based on the stated interest rate of this investment, which is the amount reflected in this schedule, the Company may be entitled to receive additional interest as a result of an arrangement with other members in the syndicate to the extent an investment has been allocated to “first out” and “last out” tranches, whereby the “first out” tranche will have priority as to the “last out” tranche with respect to payments of principal, interest and any amounts due thereunder and the Company holds the “last out” tranche.
[6] All or a portion of this security was acquired in a transaction exempt from registration under the Securities Act of 1933, and may be deemed to be "restricted securities" under the Securities Act. As of December 31, 2022, the aggregate fair value of these securities is $7,806, or 1.4% of the Company's net assets.
[7] This investment is non-income producing.