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FAIR VALUE MEASUREMENTS - Schedule of Changes in Fair Value of Investments Measured Using Level 3 Inputs (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Mar. 31, 2024 | Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |  | Gain (Loss), Investment and Derivative, Operating, after Tax
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income Extensible List Not Disclosed Flag |  | Net unrealized (appreciation) depreciation on investments
First lien loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning balance | $ 1,000,984 | $ 739,872
Realized & Unrealized Gains (Losses) | (25,020) | (17,150)
Purchases of Investments | 520,239 | 415,332
Repayments | (176,763) | (128,932)
PIK Interest Capitalized | 10,845 | 5,577
Divestitures | (13,875) | 0
Conversion/Exchange of Security | (6,961) | (13,715)
Fair value. ending balance | 1,309,449 | 1,000,984
YTD Unrealized Appreciation (Depreciation) on Investments held at period end | (19,824) | (13,189)
Second lien loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning balance | 35,820 | 52,645
Realized & Unrealized Gains (Losses) | 342 | (7,127)
Purchases of Investments | 169 | 2,990
Repayments | (2,913) | (12,310)
PIK Interest Capitalized | 356 | 314
Divestitures | 0 | (692)
Conversion/Exchange of Security | 0 | 0
Fair value. ending balance | 33,774 | 35,820
YTD Unrealized Appreciation (Depreciation) on Investments held at period end | 339 | (5,923)
Subordinated debt |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning balance | 791 | 1,317
Realized & Unrealized Gains (Losses) | (31) | (398)
Purchases of Investments | 562 | 385
Repayments | (19) | 0
PIK Interest Capitalized | 33 | 74
Divestitures | 0 | 0
Conversion/Exchange of Security | 0 | (587)
Fair value. ending balance | 1,336 | 791
YTD Unrealized Appreciation (Depreciation) on Investments held at period end | (31) | (294)
Preferred equity |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning balance | 63,393 | 44,663
Realized & Unrealized Gains (Losses) | (5,442) | (3,360)
Purchases of Investments | 10,279 | 7,788
Repayments | 0 | 0
PIK Interest Capitalized | 0 | 0
Divestitures | (273) | 0
Conversion/Exchange of Security | 3,170 | 14,302
Fair value. ending balance | 71,127 | 63,393
YTD Unrealized Appreciation (Depreciation) on Investments held at period end | (5,340) | (267)
Common equity & warrants |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning balance | 54,144 | 40,514
Realized & Unrealized Gains (Losses) | 517 | 10,547
Purchases of Investments | 6,281 | 5,747
Repayments | 0 | 0
PIK Interest Capitalized | 0 | 0
Divestitures | (3,858) | (2,664)
Conversion/Exchange of Security | 3,791 | 0
Fair value. ending balance | 60,875 | 54,144
YTD Unrealized Appreciation (Depreciation) on Investments held at period end | 285 | 11,730
Total Investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning balance | 1,155,132 | 879,011
Realized & Unrealized Gains (Losses) | (29,634) | (17,488)
Purchases of Investments | 537,530 | 432,242
Repayments | (179,695) | (141,242)
PIK Interest Capitalized | 11,234 | 5,965
Divestitures | (18,006) | (3,356)
Conversion/Exchange of Security | 0 | 0
Fair value. ending balance | 1,476,561 | 1,155,132
YTD Unrealized Appreciation (Depreciation) on Investments held at period end | (24,571) | $ (7,943)
Cost basis allocated from first lien debt to warrants |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Conversion/Exchange of Security | $ 3,800 |

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