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Derivatives
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
The Company enters into derivative financial instruments in the normal course of business from time to time to achieve certain risk management objectives, including managing its interest rate and foreign currency risk exposures. For derivative contracts, the Company enters into netting arrangements with its counterparties. In accordance with authoritative guidance, the Company offsets fair value amounts recognized for derivative instruments with the same counterparty under a master netting arrangement.
The Company may enter into forward currency exchange contracts to reduce the exposure to foreign currency exchange rate fluctuations of the Company and its Shareholders, as described in Note 2. The fair value of derivative contracts open as of June 30, 2023 and December 31, 2022 is included on the consolidated schedules of investments by contract. The Company had collateral payable of $2.3 million for June 30, 2023. Collateral amounts posted are included in collateral on forward currency exchange contracts on the consolidated statements of assets and liabilities. Collateral payable is included in collateral payable on forward currency exchange contracts on the consolidated statements of assets and liabilities.

During the three and six months ended June 30, 2023, the Company’s average U.S. dollar notional exposure to forward currency exchange contracts was $230.2 million and $221.4 million, respectively.
The following table presents both gross and net information about derivative instruments eligible for offset in the Statements of Assets and Liabilities.

June 30, 2023
CounterpartyGross
Amount
of
Assets		Gross Amount of
(Liabilities)		Net amounts presented in the
Statements of
Assets and Liabilities
Collateral
Received/Pledged(1)
Net
Amounts(2)
State Street Bank and Trust Company
$23 $— $23 $(23)$— 
$23 $— $23 $(23)$— 
December 31, 2022
CounterpartyGross
Amount
of
Assets		Gross Amount of
(Liabilities)		Net amounts presented in the
Statements of
Assets and Liabilities
Collateral
Received/Pledged(1)
Net
Amounts(2)
State Street Bank and Trust Company
$686 $— $686 $— $686 
$686 $— $686 $— $686 
(1)Amount excludes excess cash collateral paid.
(2)Net amount represents the net amount due (to) from counterparty in the event of a default based on the contractual setoff rights under the agreement. Net amount excludes any over-collateralized amounts, if applicable.
The effect of transactions in derivative instruments on the Statements of Operations during the three and six months ended June 30, 2023 were as follows:

Three Months Ended
June 30, 2023
Net change in unrealized gain (loss) on foreign currency forward contracts$(587)
Realized gain (loss) on foreign currency forward contracts(2,011)
Total net realized and unrealized gain (loss) on foreign currency forward contracts$(2,598)
Six Months Ended
June 30, 2023
Net change in unrealized gain (loss) on foreign currency forward contracts$(663)
Realized gain (loss) on foreign currency forward contracts2,079 
Total net realized and unrealized gain (loss) on foreign currency forward contracts$1,416