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Commitments and Contingencies
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

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 September 30, 2024 and December 31, 2023, the Company had the following commitments to fund investments in current portfolio companies:

 

 

September 30, 2024

 

 

December 31, 2023

 

Alaska Bidco Oy - Delayed Draw & Revolver

 

$

233

 

 

$

231

 

Apellis Pharmaceuticals, Inc. - Delayed Draw

 

 

42,105

 

 

 

—

 

Aptean, Inc. - Delayed Draw & Revolver

 

 

24,089

 

 

 

—

 

Arrow Buyer, Inc. - Delayed Draw

 

 

20,157

 

 

 

28,125

 

Arrowhead Pharmaceuticals, Inc. - Delayed Draw

 

 

140,385

 

 

 

—

 

Artisan Bidco, Inc - Revolver

 

 

16,886

 

 

 

21,283

 

Avalara, Inc. - Revolver

 

 

13,636

 

 

 

13,636

 

Azurite Intermediate Holdings, Inc. - Delayed Draw, Revolver & Equity

 

 

82,613

 

 

 

—

 

Babylon Finco Limited - Delayed Draw

 

 

16,527

 

 

 

—

 

Banyan Software Holdings, LLC - Delayed Draw

 

 

67,527

 

 

 

20,073

 

BCTO Bluebill Buyer, Inc. - Delayed Draw

 

 

1,074

 

 

 

1,325

 

Ben Nevis Midco Limited - Delayed Draw

 

 

27,307

 

 

 

—

 

BTRS Holdings, Inc. - Delayed Draw & Revolver

 

 

10,525

 

 

 

16,689

 

Cirrus (BidCo) Limited - Delayed Draw

 

 

447

 

 

 

—

 

Coupa Holdings, LLC - Delayed Draw & Revolver

 

 

20,427

 

 

 

20,427

 

Crewline Buyer, Inc. - Revolver & Equity

 

 

16,295

 

 

 

20,809

 

Disco Parent, Inc. - Revolver

 

 

5,776

 

 

 

5,776

 

Edge Bidco B.V - Delayed Draw & Revolver

 

 

1,071

 

 

 

1,060

 

Elements Finco Limited - Delayed Draw

 

 

48,138

 

 

 

—

 

Erling Lux Bidco SARL - Delayed Draw & Revolver

 

 

8,480

 

 

 

3,184

 

Fullsteam Operations LLC - Delayed Draw & Revolver

 

 

47,201

 

 

 

31,239

 

Galileo Parent, Inc. - Revolver

 

 

7,404

 

 

 

15,817

 

Greenshoot Bidco B.V. - Revolver

 

 

438

 

 

 

—

 

Heritage Environmental Services, Inc. - Delayed Draw & Revolver

 

 

28,485

 

 

 

—

 

Hippo XPA Bidco AB - Delayed Draw & Revolver

 

 

1,850

 

 

 

—

 

Hirevue, Inc. - Revolver

 

 

8,367

 

 

 

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

 

Lynx BidCo - Delayed Draw & Revolver

 

 

25,077

 

 

 

—

 

Merit Software Finance Holdings, LLC - Delayed Draw & Revolver

 

 

4,286

 

 

 

—

 

OutSystems Luxco SARL - Delayed Draw

 

 

2,235

 

 

 

2,212

 

PDI TA Holdings, Inc. - Delayed Draw & Revolver

 

 

43,317

 

 

 

—

 

Ping Identity Holding Corp. - Revolver

 

 

—

 

 

 

13,636

 

Rapid Data GmbH Unternehmensberatung - Delayed Draw & Revolver

 

 

4,753

 

 

 

6,255

 

Raptor US Buyer II Corp. - Revolver

 

 

4,318

 

 

 

—

 

Sapphire Software Buyer, Inc. - Revolver

 

 

27,027

 

 

 

—

 

Scorpio Bidco - Delayed Draw

 

 

16,377

 

 

 

—

 

Shiftmove GmbH - Delayed Draw

 

 

6,510

 

 

 

—

 

SkyLark UK DebtCo Limited - Delayed Draw

 

 

25,795

 

 

 

28,192

 

SL Buyer Corp. - Delayed Draw

 

 

1,332

 

 

 

1,475

 

Sport Alliance GmbH - Revolver

 

 

698

 

 

 

—

 

Truck-Lite Co., LLC - Delayed Draw & Revolver

 

 

60,896

 

 

 

—

 

USA Debusk, LLC - Delayed Draw & Revolver

 

 

39,175

 

 

 

—

 

Varinem German Bidco GmbH - Delayed Draw

 

 

3,830

 

 

 

—

 

Wrangler Topco, LLC - Delayed Draw & Revolver

 

 

32,377

 

 

 

9,576

 

Total Portfolio Company Commitments (1)(2)

 

$

977,946

 

 

$

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 September 30, 2024, the Company had unfunded commitments of $275.8 million to new borrowers that are not current portfolio companies. As of 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 September 30, 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.