Commitments and Contingencies

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Note 6. Commitments and Contingencies

The Company had unfunded debt commitments to various revolving and delayed-draw term loans. The total amount of these unfunded commitments as of March 31, 2025 and December 31, 2024 was $14,249 and $14,532, respectively, comprised of the following:


	March 31, 2025		December 31, 2024
Arcutis Biotherapeutics, Inc.	$	3,171	$	3,171
Plastic Management, LLC		2,186		2,186
Ardelyx, Inc.		1,220		1,220
Cerapedics, Inc.		1,064		1,064
Southern Orthodontics Partners Management, LLC		711		1,081
Stella & Chewy's LLC		611		—
Legacy Service Partners, LLC		588		588
Western Veterinary Partners LLC		479		590
The Townsend Company, LLC		456		496
AAH Topco, LLC		423		586
United Digestive MSO Parent, LLC		421		457
Quantcast Corporation		407		282
Pasadena Private Lending Inc.		388		388
SPR Therapeutics, Inc.		299		499
World Insurance Associates, LLC		293		287
Pinnacle Fertility, Inc.		273		—
Nexus Intermediate III, LLC		235		235
Sherwood Management Co., Inc.		198		—
CVAUSA Management, LLC		162		741
Foundation Consumer Brands, LLC		125		—
Crewline Buyer, Inc.		122		122
Medrina, LLC		99		190
OIS Management Services, LLC		98		129
Exactcare Parent, Inc.		81		81
WCI-BXC Purchaser, LLC		76		76
MRI Software LLC		63		63
Total Commitments	$	14,249	$	14,532

The credit agreements governing the above loan commitments contain customary lending provisions and/or are subject to the respective portfolio company’s achievement of certain milestones that allow relief to the Company from funding obligations for previously made commitments in instances where the underlying company experiences materially adverse events that affect the financial condition or business outlook for the company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company. As of March 31, 2025 and December 31, 2024, the Company had sufficient cash available and/or liquid securities available to fund its commitments and had reviewed them for any appropriate fair value adjustment.

In the normal course of our business, we invest or trade in various financial instruments and may enter into various investment activities with off-balance sheet risk, which may include forward foreign currency contracts. Generally, these financial instruments represent future commitments to purchase or sell other financial instruments at specific terms at future dates. These financial instruments contain varying degrees of off-balance sheet risk whereby changes in the market value or our satisfaction of the obligations may exceed the amount recognized in our Consolidated Statements of Assets and Liabilities. As of March 31, 2025, we held no such contracts.

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, 2025 and December 31, 2024, management is not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.