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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Investments, cost $ 2,562,398 $ 1,787,824
Foreign currencies, cost $ 42,627 $ 34,069
Common stock par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 150,000,000 150,000,000
Common stock, shares issued (in shares) 107,916,166 65,316,085
Common stock, shares outstanding (in shares) 107,916,166 65,316,085
Credit Support Agreements    
Derivate asset, cost $ 58,000 $ 13,600
Non-Control / Non-Affiliate investments    
Investments, cost 2,191,345 1,494,031
Affiliate investments    
Investments, cost 275,482 267,967 [1]
Control investments    
Investments, cost $ 95,571 $ 25,826 [2]
[1] All of the investment is or will be encumbered as security for the Company’s senior secured credit facility with ING Capital LLC.
[2] As defined in the 1940 Act, the Company is deemed to be both an “affiliated person” and “control” the portfolio company because it owns more than 25% of the portfolio company’s outstanding voting securities or it has the power to exercise control over the management or policies of such portfolio company (including through a management agreement). Transactions as of and during the year ended December 31, 2021 in which the portfolio company is deemed to be a "Control Investment" of the Company were as follows:
December 31, 2020 ValueGross Additions
(b)
Gross Reductions (c)Amount of Realized Gain (Loss)Amount of Unrealized Gain (Loss)December 31, 2021 ValueAmount of Interest or Dividends Credited to Income(d)
Portfolio CompanyType of Investment(a)
MVC Automotive Group GmbH(e)
Common Equity Interest$9,582 $— $— $— $(1,883)$7,699 $— 
Bridge Loan (6.0% Cash 12/31/2021)
7,149 — — — — 7,149 435 
16,731 — — — (1,883)14,848 435 
MVC Private Equity Fund LPLimited Partnership Interest8,899 — — — (1,523)7,376 — 
General Partnership Interest225 — — (37)188 643 
9,124 — — — (1,560)7,564 643 
Waccamaw River LLC
50% Member Interest
— 4,500 (4,474)— (26)— — 
Total Control Investments$25,855 $4,500 $(4,474)$ $(3,469)$22,412 $1,078 
(a)     Equity and equity-linked investments are non-income producing, unless otherwise noted.
(b) Gross additions include increases in the cost basis of investments resulting from new investments and follow-on investments.
(c)     Gross reductions include decreases in the total cost basis of investments resulting from principal repayments or sales.
(d)    Represents the total amount of interest, fees or dividends credited to income for the portion of the year an investment was included in the Control category.
(e) The fair value of the investment was determined using significant unobservable inputs.