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FAIR VALUE MEASUREMENTS - Schedule Investment Portfolio by Level (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024
--- | --- | ---
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | $ 1,468,126 | [1],[2],[3],[4],[5],[6],[7] | $ 1,476,561 | [8],[9],[10],[11],[12],[13],[14]
Significant Unobservable Inputs (Level 3) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 1,468,126 |  | 1,476,561 |
Recurring |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Total Investments | 1,468,126 |  | 1,476,561 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Total Investments | 0 |  | 0 |
Recurring | Significant Other Observable Inputs (Level 2) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Total Investments | 0 |  | 0 |
Recurring | Significant Unobservable Inputs (Level 3) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Total Investments | 1,468,126 |  | 1,476,561 |
Recurring | First lien loans |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 1,305,906 |  | 1,309,449 |
Recurring | First lien loans | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | First lien loans | Significant Other Observable Inputs (Level 2) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | First lien loans | Significant Unobservable Inputs (Level 3) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 1,305,906 |  | 1,309,449 |
Recurring | Second lien loans |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 28,093 |  | 33,774 |
Recurring | Second lien loans | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Second lien loans | Significant Other Observable Inputs (Level 2) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Second lien loans | Significant Unobservable Inputs (Level 3) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 28,093 |  | 33,774 |
Recurring | Subordinated debt |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 1,280 |  | 1,336 |
Recurring | Subordinated debt | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Subordinated debt | Significant Other Observable Inputs (Level 2) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Subordinated debt | Significant Unobservable Inputs (Level 3) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 1,280 |  | 1,336 |
Recurring | Preferred equity |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 72,886 |  | 71,127 |
Recurring | Preferred equity | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Preferred equity | Significant Other Observable Inputs (Level 2) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Preferred equity | Significant Unobservable Inputs (Level 3) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 72,886 |  | 71,127 |
Recurring | Common equity & warrants |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 59,961 |  | 60,875 |
Recurring | Common equity & warrants | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Common equity & warrants | Significant Other Observable Inputs (Level 2) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | 0 |  | 0 |
Recurring | Common equity & warrants | Significant Unobservable Inputs (Level 3) |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |
Investment owned, fair value | $ 59,961 |  | $ 60,875 |
[1] | Equity ownership may be held in shares or units of a company that is either wholly owned by the portfolio company or under common control by the same parent company to the portfolio company.
[2] | Unless otherwise noted, all portfolio company headquarters are based in the United States.
[3] | Affiliate investments are generally defined by the 1940 Act as investments in which between 5% and 25% of the voting securities are owned and the investments are not classified as control investments. At June 30, 2024, the Company held $184.2 million of affiliate investments, which represented approximately 12.6% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 23.7%.
[4] | All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted.
[5] | Control investments are generally defined by the 1940 Act as investments in which more than 25% of the voting securities are owned. At June 30, 2024, the Company held $9.4 million of control investments, which represented approximately 0.6% of the Company's investment assets. The fair value of these investments as a percent of net assets is 1.2%.
[6] | Non-Control/Non-Affiliate investments are generally defined by the 1940 Act, as investments that are neither control investments nor affiliate investments. At June 30, 2024, the Company held $1,274.6 million of non-control/non-affiliate investments, which represented approximately 86.8% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 164.0%.
[7] | The Company's investment portfolio is comprised entirely of debt and equity securities of privately held companies for which quoted prices falling within the categories of Level 1 and Level 2 inputs are not readily available. Therefore, the Company values all of its portfolio investments at fair value, as determined in good faith by the valuation committee comprised of certain officers of the Company (the "Valuation Committee") as the valuation designee of the Board of Directors (the "Valuation Designee") pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”), using significant unobservable Level 3 inputs. Refer to Note 4 - Fair Value Measurements for further discussion.
[8] | Equity ownership may be held in shares or units of a company that is either wholly owned by the portfolio company or under common control by the same parent company to the portfolio company.
[9] | Unless otherwise noted, all portfolio company headquarters are based in the United States.
[10] | Affiliate investments are generally defined by the 1940 Act as investments in which between 5% and 25% of the voting securities are owned and the investments are not classified as control investments. At March 31, 2024, the Company held $190.2 million of affiliate investments, which represented approximately 12.9% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 25.2%.
[11] | All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted.
[12] | Control investments are generally defined by the 1940 Act as investments in which more than 25% of the voting securities are owned. At March 31, 2024, the Company did not hold any control investments.
[13] | Non-Control/Non-Affiliate investments are generally defined by the 1940 Act, as investments that are neither control investments nor affiliate investments. At March 31, 2024, the Company held $1,286.4 million of non-control/non-affiliate investments, which represented approximately 87.1% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 170.2%.
[14] | The Company's investment portfolio is comprised entirely of debt and equity securities of privately held companies for which quoted prices falling within the categories of Level 1 and Level 2 inputs are not readily available. Therefore, the Company values all of its portfolio investments at fair value, as determined in good faith by the valuation committee comprised of certain officers of the Company (the "Valuation Committee") as the valuation designee of the Board of Directors (the "Valuation Designee") pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”), using significant unobservable Level 3 inputs. Refer to Note 4 - Fair Value Measurements for further discussion.

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