Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

8. Commitments and Contingencies

Portfolio Company Commitments

From time to time, the Company may enter into commitments to fund investments; such commitments are incorporated into the Company’s assessment of its liquidity position. The Company’s senior secured revolving loan commitments are generally available on a borrower’s demand and may remain outstanding until the maturity date of the applicable loan. The Company’s senior secured delayed draw term loan commitments are generally available on a borrower’s demand and, once drawn, generally have the same remaining term as the associated loan agreement. Undrawn senior secured delayed draw term loan commitments generally have a shorter availability period than the term of the associated loan agreement.

As of March 31, 2024 and December 31, 2023, the Company had the following commitments to fund investments in current portfolio companies:


	March 31, 2024		December 31, 2023
Alaska Bidco Oy - Delayed Draw & Revolver	$	226	$	231
Aptean, Inc. - Delayed Draw & Revolver		29,095		—
Arrow Buyer, Inc. - Delayed Draw		20,157		28,125
Artisan Bidco, Inc. - Revolver		16,886		21,283
Avalara, Inc. - Revolver		13,636		13,636
Azurite Intermediate Holdings, Inc - Delayed Draw, Revolver & Equity		231,988		—
Babylon Finco Limited - Delayed Draw		16,527		—
Banyan Software Holdings, LLC - Delayed Draw		108,473		20,073
BCTO Bluebill Buyer, Inc. - Delayed Draw		1,202		1,325
Ben Nevis Midco Limited - Delayed Draw		34,071		—
BTRS Holdings, Inc. - Delayed Draw & Revolver		11,647		16,689
Coupa Holdings, LLC - Delayed Draw & Revolver		20,427		20,427
Crewline Buyer, Inc. - Revolver & Equity		16,295		20,809
Disco Parent, Inc. - Revolver		5,775		5,776
Edge Bidco B.V. - Delayed Draw & Revolver		1,036		1,060
Erling Lux Bidco SARL - Delayed Draw & Revolver		10,907		3,184
Fullsteam Operations, LLC - Delayed Draw & Revolver		67,336		31,239
Galileo Parent Inc - Revolver		13,125		15,817
Heritage Environmental Services, Inc. - Revolver		21,219		—
Hippo XPA Bidco AB - Delayed Draw & Revolver		4,384		—
Hirevue, Inc. - Revolver		11,290		14,113
Hornetsecurity Holding GmbH - Delayed Draw & Revolver		—		2,113
Kangaroo Bidco AS - Delayed Draw		22,500		53,817
Laramie Energy, LLC - Delayed Draw		27,439		27,439
OutSystems Luxco SARL - Delayed Draw		2,163		2,212
PDI TA Holdings, Inc. - Delayed Draw & Revolver		63,810		—
Ping Identity Holding Corp. - Revolver		13,636		13,636
Rapid Data GmbH Unternehmensberatung - Delayed Draw & Revolver		6,114		6,255
SkyLark UK DebtCo Limited - Delayed Draw		24,293		28,192
SL Buyer Corp - Delayed Draw		1,431		1,475
Truck-Lite Co., LLC - Delayed Draw & Revolver		68,780		—
Wrangler TopCo, LLC - Revolver		9,576		9,576
Total Portfolio Company Commitments (1)(2)	$	895,444	$	358,502

(1)

Represents the full amount of the Company’s commitments to fund investments on such date. Commitments may be subject to limitations on borrowings set forth in the agreements between the Company and the applicable portfolio company. As a result, portfolio companies may not be eligible to borrow the full commitment amount on such date.

(2)

The Company’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.

Other Commitments and Contingencies

As of March 31, 2024 and December 31, 2023, the Company did not have any unfunded commitments to fund investments to new borrowers that were not current portfolio companies as of such date.

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2024 and December 31, 2023, management is not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.