XML 45 R26.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Schedule of Investments in and Advances to Affiliates | 12 Months Ended
--- | ---
Mar. 31, 2024
Investments in and Advances to Affiliates [Abstract] |
Schedule of Investments in and Advances to Affiliates | SCHEDULE 12-14 Schedule of Investments in and Advances to Affiliates (In thousands)
Portfolio Company | Type of Investment (1) | March 31, 2024 Principal Amount - Debt Investments |  | Amount of Interest or Dividends Credited in Income (2) |  | Fair Value at March 31, 2023 |  | Gross Additions (3) |  | Gross Reductions (4) |  | Amount of Realized Gain/(Loss) (5) |  | Amount of Unrealized Gain/(Loss) |  | Fair Value at March 31, 2024
Control Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
I-45 SLF LLC | 80% LLC equity interest | $ | — |  |  | $ | 7,983 |  |  | $ | 51,256 |  |  | $ | 37,600 |  |  | $ | (92,536) |  |  | $ | (15,047) |  |  | $ | 18,727 |  |  | $ | — |
Total Control Investments |  | $ | — |  |  | $ | 7,983 |  |  | $ | 51,256 |  |  | $ | 37,600 |  |  | $ | (92,536) |  |  | $ | (15,047) |  |  | $ | 18,727 |  |  | $ | — |
Affiliate Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Air Conditioning Specialist, Inc. | Revolving Loan | $ | 825 |  |  | $ | 100 |  |  | $ | 800 |  |  | $ | 607 |  |  | $ | (575) |  |  | $ | 15 |  |  | $ | (22) |  |  | $ | 825 |
| First Lien | 24,407 |  |  | 2,935 |  |  | 27,438 |  |  | 10,999 |  |  | (13,997) |  |  | 175 |  |  | (208) |  |  | 24,407 |
| Delayed Draw Term Loan | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 1,006,045.85 Preferred Units | — |  |  | — |  |  | 1,202 |  |  | 534 |  |  | — |  |  | — |  |  | 1,583 |  |  | 3,319 |
ArborWorks, LLC | Revolving Loan | 1,569 |  |  | 69 |  |  | — |  |  | 1,569 |  |  | — |  |  | — |  |  | — |  |  | 1,569 |
| First Lien | 3,123 |  |  | 150 |  |  | — |  |  | 3,123 |  |  | — |  |  | — |  |  | — |  |  | 3,123 |
| 100 Class A Units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
| 13,898.32 Class A-1 Preferred Units | — |  |  | — |  |  | — |  |  | 3,170 |  |  | — |  |  | — |  |  | — |  |  | 3,170 |
| 13,898.32 Class B-1 Preferred Units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 1,666.67 Class A-1 Common Units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Catbird NYC, LLC | Revolving Loan | — |  |  | 78 |  |  | — |  |  | 1,516 |  |  | (1,500) |  |  | — |  |  | (16) |  |  | — |
| First Lien | 15,100 |  |  | 1,979 |  |  | 15,500 |  |  | 62 |  |  | (400) |  |  | — |  |  | (62) |  |  | 15,100 |
| 1,000,000 Class A Units | — |  |  | 34 |  |  | 1,658 |  |  | — |  |  | — |  |  | — |  |  | 123 |  |  | 1,781 |
| 500,000 Class B Units | — |  |  | 16 |  |  | 714 |  |  | — |  |  | — |  |  | — |  |  | 43 |  |  | 757 |
Central Medical Supply LLC | Revolving Loan | 700 |  |  | 65 |  |  | 296 |  |  | 406 |  |  | — |  |  | — |  |  | (2) |  |  | 700 |
| First Lien | 7,540 |  |  | 1,173 |  |  | 7,402 |  |  | 73 |  |  | — |  |  | — |  |  | 65 |  |  | 7,540 |
| Delayed Draw Term Loan | 101 |  |  | 28 |  |  | 99 |  |  | 7 |  |  | — |  |  | — |  |  | (5) |  |  | 101 |
| 2,620,670 Preferred Units | — |  |  | — |  |  | 357 |  |  | 248 |  |  | — |  |  | — |  |  | 755 |  |  | 1,360 |
Portfolio Company | Type of Investment (1) | March 31, 2024 Principal Amount - Debt Investments |  | Amount of Interest or Dividends Credited in Income (2) |  | Fair Value at March 31, 2023 |  | Gross Additions (3) |  | Gross Reductions (4) |  | Amount of Realized Gain/(Loss) (5) |  | Amount of Unrealized Gain/(Loss) |  | Fair Value at March 31, 2024
Chandler Signs, LLC | 1,500,000 units of Class A-1 common stock | — |  |  | 60 |  |  | 3,215 |  |  | — |  |  | (3,402) |  |  | 1,902 |  |  | (1,715) |  |  | — |
Command Group Acquisition, LLC | First Lien | 6,000 |  |  | 104 |  |  | — |  |  | 5,882 |  |  | — |  |  | — |  |  | — |  |  | 5,882 |
| 1,250,000 Preferred Units | — |  |  | — |  |  | — |  |  | 1,250 |  |  | — |  |  | — |  |  | — |  |  | 1,250 |
Delphi Intermediate Healthco LLC | First Lien | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,649) |  |  | 1,649 |  |  | — |
| First Lien | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,829) |  |  | 1,829 |  |  | — |
| Protective Advance | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,448) |  |  | 1,448 |  |  | — |
| 1,681.04 Common Units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,615) |  |  | 3,615 |  |  | — |
Dynamic Communities, LLC | First Lien - Term Loan A | 4,250 |  |  | 407 |  |  | 3,823 |  |  | 406 |  |  | — |  |  | — |  |  | 20 |  |  | 4,249 |
| First Lien - Term Loan B | 4,359 |  |  | 492 |  |  | 3,843 |  |  | 493 |  |  | — |  |  | — |  |  | 23 |  |  | 4,359 |
| 250,000 Class A Preferred units | — |  |  | — |  |  | 625 |  |  | — |  |  | — |  |  | — |  |  | (308) |  |  | 317 |
| 5,435,211.03 Class B Preferred units | — |  |  | — |  |  | 2,218 |  |  | — |  |  | — |  |  | — |  |  | (2,218) |  |  | — |
| 255,984.22 Class C Preferred units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 2,500,000 Common units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
GPT Industries, LLC | Revolving Loan | — |  |  | 27 |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | (12) |  |  | — |
| First lien | 6,004 |  |  | 870 |  |  | 6,030 |  |  | 19 |  |  | (146) |  |  | — |  |  | 101 |  |  | 6,004 |
| 1,000,000 Class A Preferred Units | — |  |  | — |  |  | 1,000 |  |  | — |  |  | — |  |  | — |  |  | 1,064 |  |  | 2,064 |
GrammaTech, Inc. | Revolving Loan | — |  |  | 9 |  |  | — |  |  | 9 |  |  | — |  |  | — |  |  | (9) |  |  | — |
| First Lien | 1,000 |  |  | 803 |  |  | 10,031 |  |  | 20 |  |  | (9,031) |  |  | 42 |  |  | (62) |  |  | 1,000 |
| 1,000 Class A units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 360.06 Class A-1 units | — |  |  | — |  |  | 372 |  |  | — |  |  | — |  |  | — |  |  | (372) |  |  | — |
Portfolio Company | Type of Investment (1) | March 31, 2024 Principal Amount - Debt Investments |  | Amount of Interest or Dividends Credited in Income (2) |  | Fair Value at March 31, 2023 |  | Gross Additions (3) |  | Gross Reductions (4) |  | Amount of Realized Gain/(Loss) (5) |  | Amount of Unrealized Gain/(Loss) |  | Fair Value at March 31, 2024
ITA Holdings Group, LLC | Revolving Loan | 2,468 |  |  | 391 |  |  | 7,014 |  |  | 2,443 |  |  | (7,005) |  |  | — |  |  | 16 |  |  | 2,468 |
| First Lien - Term Loan | — |  |  | 282 |  |  | 10,114 |  |  | 6 |  |  | (10,145) |  |  | — |  |  | 25 |  |  | — |
| First Lien - Term Loan B | — |  |  | 189 |  |  | 5,068 |  |  | 17 |  |  | (5,073) |  |  | — |  |  | (12) |  |  | — |
| First Lien - PIK Note A | — |  |  | 88 |  |  | 3,255 |  |  | 168 |  |  | (3,427) |  |  | — |  |  | 4 |  |  | — |
| First Lien - PIK Note B | — |  |  | 3 |  |  | 128 |  |  | 6 |  |  | (134) |  |  | — |  |  | — |  |  | — |
| First Lien - Term Loan | 13,038 |  |  | 1,889 |  |  | — |  |  | 11,186 |  |  | — |  |  | — |  |  | 1,852 |  |  | 13,038 |
| First Lien - Term Loan B | 13,038 |  |  | 2,082 |  |  | — |  |  | 11,174 |  |  | — |  |  | — |  |  | 1,864 |  |  | 13,038 |
| Delayed Draw Term Loan - A | 1,058 |  |  | 89 |  |  | — |  |  | 1,034 |  |  | — |  |  | — |  |  | 24 |  |  | 1,058 |
| Delayed Draw Term Loan - B | 1,058 |  |  | 100 |  |  | — |  |  | 1,034 |  |  | — |  |  | — |  |  | 24 |  |  | 1,058 |
| Warrants | — |  |  | — |  |  | 4,046 |  |  | — |  |  | — |  |  | — |  |  | (41) |  |  | 4,005 |
| Warrants | — |  |  | — |  |  | — |  |  | 3,791 |  |  | — |  |  | — |  |  | 78 |  |  | 3,869 |
| 9.25% Class A membership interest | — |  |  | 120 |  |  | 4,348 |  |  | — |  |  | — |  |  | — |  |  | (1,974) |  |  | 2,374 |
Lighting Retrofit International, LLC (DBA Envocore) | Revolving Loan | 729 |  |  | 13 |  |  | — |  |  | 729 |  |  | — |  |  | — |  |  | (15) |  |  | 714 |
| First Lien | 5,091 |  |  | 391 |  |  | 5,143 |  |  | — |  |  | (52) |  |  | — |  |  | (107) |  |  | 4,984 |
| Second Lien | 5,208 |  |  | — |  |  | 3,594 |  |  | — |  |  | — |  |  | — |  |  | 1,323 |  |  | 4,917 |
| 208,333.3333 Series A Preferred units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 203,124.9999 Common units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outerbox, LLC | Revolving Loan | — |  |  | 11 |  |  | — |  |  | 6 |  |  | — |  |  | — |  |  | (6) |  |  | — |
| First Lien | 14,625 |  |  | 1,861 |  |  | 14,552 |  |  | 39 |  |  | — |  |  | — |  |  | (69) |  |  | 14,522 |
| 6,308.2584 Class A common units | — |  |  | — |  |  | 773 |  |  | — |  |  | — |  |  | — |  |  | (192) |  |  | 581 |
Pool Service Partners, Inc. | Revolving Loan | 1,000 |  |  | 7 |  |  | — |  |  | 981 |  |  | — |  |  | — |  |  | (1) |  |  | 980 |
| First Lien | 5,000 |  |  | 173 |  |  | — |  |  | 4,904 |  |  | — |  |  | — |  |  | (4) |  |  | 4,900 |
| Delayed Draw Term Loan | 600 |  |  | 14 |  |  | — |  |  | 518 |  |  | — |  |  | — |  |  | 70 |  |  | 588 |
| 10,000 Common units | — |  |  | — |  |  | — |  |  | 1,000 |  |  | — |  |  | — |  |  | 384 |  |  | 1,384 |
Portfolio Company | Type of Investment (1) | March 31, 2024 Principal Amount - Debt Investments |  | Amount of Interest or Dividends Credited in Income (2) |  | Fair Value at March 31, 2023 |  | Gross Additions (3) |  | Gross Reductions (4) |  | Amount of Realized Gain/(Loss) (5) |  | Amount of Unrealized Gain/(Loss) |  | Fair Value at March 31, 2024
Roseland Management, LLC | Revolving Loan | — |  |  | 53 |  |  | 555 |  |  | 9 |  |  | (575) |  |  | — |  |  | 11 |  |  | — |
| First Lien | 14,906 |  |  | 1,887 |  |  | 14,524 |  |  | 26 |  |  | (145) |  |  | — |  |  | 501 |  |  | 14,906 |
| 3,364 Class A-2 Units | — |  |  | — |  |  | 694 |  |  | — |  |  | — |  |  | — |  |  | 68 |  |  | 762 |
| 1,100 Class A-1 units | — |  |  | — |  |  | 161 |  |  | — |  |  | — |  |  | — |  |  | 22 |  |  | 183 |
| 16,084 Class A units | — |  |  | — |  |  | 422 |  |  | — |  |  | — |  |  | — |  |  | 325 |  |  | 747 |
Sonobi, Inc. | 500,000 Class A Common units | — |  |  | — |  |  | 1,749 |  |  | — |  |  | — |  |  | — |  |  | 209 |  |  | 1,958 |
STATinMED, LLC | First Lien | 7,560 |  |  | 276 |  |  | 7,288 |  |  | 272 |  |  | — |  |  | — |  |  | (2,646) |  |  | 4,914 |
| Delayed Draw Term Loan | — |  |  | 1 |  |  | 122 |  |  | 2 |  |  | (124) |  |  | 1 |  |  | (1) |  |  | — |
| 4,718.62 Class A Preferred Units | — |  |  | — |  |  | 3,767 |  |  | — |  |  | — |  |  | — |  |  | (3,767) |  |  | — |
| 39,097.96 Class B Preferred Units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Student Resource Center LLC | First Lien | 9,644 |  |  | 590 |  |  | 8,720 |  |  | 776 |  |  | — |  |  | — |  |  | (6,120) |  |  | 3,376 |
| 10,502,487.46 Preferred units | — |  |  | — |  |  | 5,845 |  |  | — |  |  | — |  |  | — |  |  | (5,845) |  |  | — |
| 2,000,000 Preferred units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Affiliate Investments |  | $ | 170,001 |  |  | $ | 19,910 |  |  | $ | 188,505 |  |  | $ | 70,526 |  |  | $ | (55,731) |  |  | $ | (6,406) |  |  | $ | (6,688) |  |  | $ | 190,206 |
Total Control & Affiliate Investments |  | $ | 170,001 |  |  | $ | 27,893 |  |  | $ | 239,761 |  |  | $ | 108,126 |  |  | $ | (148,267) |  |  | $ | (21,453) |  |  | $ | 12,039 |  |  | $ | 190,206 |
(1)The principal amount and ownership detail as shown in the Consolidated Schedules of Investments. (2)Represents the total amount of interest or dividends credited to income for the portion of the year an investment was included in the Control or Affiliate categories, respectively. (3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments, accrued PIK interest, and accretion of OID. Gross additions also include movement of an existing portfolio company into this category and out of a different category. (4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include movement of an existing portfolio company out of this category and into a different category. (5)The schedule does not reflect realized gains or losses on escrow receivables for investments which were previously exited and were not held during the period presented. Gains and losses on escrow receivables are classified in the Consolidated Statements of Operations according to the control classification at the time the investment was exited.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsInAndAdvancesToAffiliatesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInAndAdvancesToAffiliatesScheduleOfInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration