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COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
In the normal course of business, the Company is party to financial instruments with off-balance sheet risk, consisting primarily of unused commitments to extend financing to the Company’s portfolio companies. Since commitments may expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. As of March 31, 2024, the Company believed that it had adequate financial resources to satisfy its unfunded commitments. The balances of unused commitments to extend financing as of March 31, 2024 and December 31, 2023 were as follows:
Portfolio Company
($ in thousands)		Investment TypeMarch 31, 2024December 31, 2023
Accurus Aerospace Corporation(1)(2)Revolver$461 $634 
AD Bidco, Inc.(1)(2)Delayed Draw Term Loan3,522 — 
AD Bidco, Inc.(1)(2)Revolver1,303 — 
Adhefin International(1)(2)(3)Delayed Draw Term Loan410 419 
AirX Climate Solutions, Inc.(1)Delayed Draw Term Loan1,179 1,179 
AirX Climate Solutions, Inc.(1)Revolver399 482 
AlliA Insurance Brokers NV(1)(3)Delayed Draw Term Loan1,598 1,634 
Americo Chemical Products, LLC(1)Revolver471 471 
Amtech LLC(1)(2)Revolver974 436 
Anju Software, Inc.(1)(2)Delayed Draw Term Loan343 343 
Aquavista Watersides 2 LTD(1)(2)(4)Capex / Acquisition Facility2,201 2,221 
Arc Education(1)(3)Delayed Draw Term Loan1,263 1,291 
Argus Bidco Limited(1)(2)(4)CAF Term Loan361 541 
ASC Communications, LLC(1)Revolver1,089 1,089 
Portfolio Company
($ in thousands)		Investment TypeMarch 31, 2024December 31, 2023
Astra Bidco Limited(1)(2)(4)Delayed Draw Term Loan515 604 
ATL II MRO Holdings, Inc.(1)(2)Revolver1,667 1,667 
Avance Clinical Bidco Pty Ltd(1)(2)(5)Delayed Draw Term Loan1,246 1,304 
Azalea Buyer, Inc.(1)(2)Delayed Draw Term Loan644 644 
Azalea Buyer, Inc.(1)(2)Revolver481 481 
Beyond Risk Management, Inc.(1)Delayed Draw Term Loan2,007 2,007 
Biolam Group(1)(2)(3)Delayed Draw Term Loan652 667 
Bounteous, Inc.(1)(2)Delayed Draw Term Loan— 2,840 
Brightpay Limited(1)(2)(3)Delayed Draw Term Loan137 140 
BrightSign LLC(1)(2)Revolver266 443 
CAi Software, LLC(1)(2)Revolver2,523 943 
Cascade Residential Services LLC(1)Delayed Draw Term Loan1,509 1,985 
Cascade Residential Services LLC(1)Revolver331 331 
Catawba River Limited(1)(2)(4)Structured Junior Note— 13,971 
CCFF Buyer, LLC(1)(2)Delayed Draw Term Loan3,490 — 
CCFF Buyer, LLC(1)(2)Revolver1,047 — 
CGI Parent, LLC(1)(2)Revolver1,653 1,653 
Classic Collision (Summit Buyer, LLC)(1)Delayed Draw Term Loan2,014 2,734 
Comply365, LLC(1)(2)Revolver1,101 1,101 
Coyo Uprising GmbH(1)(2)(3)Delayed Draw Term Loan424 434 
CSL Dualcom(1)(4)Capex / Acquisition Term Loan149 150 
DataServ Integrations, LLC(1)Revolver481 481 
DecksDirect, LLC(1)(2)Revolver169 381 
DISA Holdings Corp.(1)Delayed Draw Term Loan— 1,072 
DISA Holdings Corp.(1)Revolver429 339 
Dune Group(1)(2)(3)Delayed Draw Term Loan429 439 
Eclipse Business Capital, LLC(1)Revolver16,818 17,182 
EMI Porta Holdco LLC(1)(2)Revolver59 403 
eShipping, LLC(1)Revolver1,216 1,486 
Eurofins Digital Testing International LUX Holding SARL(1)(2)(3)Delayed Draw Term Loan2,670 2,731 
Events Software BidCo Pty Ltd(1)(2)Delayed Draw Term Loan620 620 
Express Wash Acquisition Company, LLC(1)Revolver115 115 
Faraday(1)(3)Delayed Draw Term Loan968 990 
Finexvet(1)(3)Delayed Draw Term Loan— 650 
Footco 40 Limited(1)(2)(4)Delayed Draw Term Loan519 524 
Forest Buyer, LLC(1)Delayed Draw Term Loan496 — 
Forest Buyer, LLC(1)Revolver298 — 
Fortis Payment Systems, LLC(1)(2)Delayed Draw Term Loan694 — 
Fortis Payment Systems, LLC(1)(2)Revolver625 — 
GB Eagle Buyer, Inc.(1)Revolver2,581 2,581 
Global Academic Group Limited(1)(2)(7)Term Loan391 414 
GPNZ II GmbH(1)(2)(3)Delayed Draw Term Loan17 53 
GPNZ II GmbH(1)(2)(3)Delayed Draw Term Loan86 — 
Greenhill II BV(1)(3)Capex Acquisition Facility118 120 
Gusto Aus BidCo Pty Ltd(1)(5)Delayed Draw Term Loan159 167 
HeartHealth Bidco Pty Ltd(1)(2)(5)Delayed Draw Term Loan239 253 
Portfolio Company
($ in thousands)		Investment TypeMarch 31, 2024December 31, 2023
Heavy Construction Systems Specialists, LLC(1)Revolver2,632 2,632 
HEKA Invest(1)(3)Delayed Draw Term Loan562 575 
HemaSource, Inc.(1)Revolver1,489 1,421 
HomeX Services Group, LLC(1)Delayed Draw Term Loan845 845 
HomeX Services Group, LLC(1)Revolver338 338 
HTI Technology & Industries(1)(2)Delayed Draw Term Loan2,045 2,045 
HTI Technology & Industries(1)(2)Revolver1,364 1,364 
Ice House America, L.L.C.(1)(2)Delayed Draw Term Loan165 — 
Ice House America, L.L.C.(1)(2)Revolver383 — 
Innovad Group II BV(1)(2)(3)Delayed Draw Term Loan260 266 
INOS 19-090 GmbH(1)(2)(3)Acquisition Facility— 1,872 
Interstellar Group B.V.(1)(3)Delayed Draw Term Loan607 620 
Interstellar Group B.V.(1)(3)Delayed Draw Term Loan— 57 
InvoCare Limited(1)(2)(5)Delayed Draw Term Loan370 387 
Isolstar Holding NV (IPCOM)(1)(3)Delayed Draw Term Loan171 656 
ISTO Technologies II, LLC(1)Revolver714 714 
ITI Intermodal, Inc.(1)(2)Revolver1,157 1,157 
Jocassee Partners LLCJoint Venture65,000 65,000 
Jon Bidco Limited(1)(2)(7)Capex & Acquisition Facility1,063 1,125 
Jones Fish Hatcheries & Distributors LLC(1)Revolver418 418 
Kano Laboratories LLC(1)Delayed Draw Term Loan— 153 
Kano Laboratories LLC(1)Delayed Draw Term Loan— 2,830 
Lambir Bidco Limited(1)(2)(3)Delayed Draw Term Loan612 626 
Lattice Group Holdings Bidco Limited(1)(2)Delayed Draw Term Loan237 255 
Lattice Group Holdings Bidco Limited(1)(2)Revolver18 18 
LeadsOnline, LLC(1)Revolver2,603 2,187 
Lifestyle Intermediate II, LLC(1)(2)Revolver2,500 2,500 
Marmoutier Holding B.V.(1)(2)(3)Delayed Draw Term Loan24 18 
Marmoutier Holding B.V.(1)(2)(3)Revolver108 109 
Marshall Excelsior Co.(1)Revolver165 221 
MB Purchaser, LLC(1)(2)Delayed Draw Term Loan1,545 — 
MB Purchaser, LLC(1)(2)Revolver309 — 
MC Group Ventures Corporation(1)(2)Delayed Draw Term Loan276 276 
Megawatt Acquisitionco, Inc.(1)Revolver665 — 
Mercell Holding AS(1)(2)(8)Capex Acquisition Facility724 773 
Modern Star Holdings Bidco Pty Limited(1)(2)(5)Term Loan932 974 
Moonlight Bidco Limited(1)(2)(4)Delayed Draw Term Loan556 562 
Narda Acquisitionco., Inc.(1)Revolver1,311 1,311 
NAW Buyer LLC(1)(2)Delayed Draw Term Loan5,876 5,876 
NAW Buyer LLC(1)(2)Revolver1,705 1,515 
NeoxCo(1)(3)Delayed Draw Term Loan486 497 
Next HoldCo, LLC(1)Delayed Draw Term Loan1,891 1,891 
Next HoldCo, LLC(1)Revolver733 733 
NF Holdco, LLC(1)Revolver884 663 
Novotech Aus Bidco Pty Ltd(1)Capex & Acquisition Facility809 809 
NPM Investments 28 BV(1)(3)Delayed Draw Term Loan468 479 
OA Buyer, Inc.(1)Revolver1,154 1,331 
Portfolio Company
($ in thousands)		Investment TypeMarch 31, 2024December 31, 2023
OAC Holdings I Corp(1)(2)Revolver1,076 1,370 
OSP Hamilton Purchaser, LLC(1)(2)Delayed Draw Term Loan5,345 5,345 
OSP Hamilton Purchaser, LLC(1)(2)Revolver1,109 1,109 
Parkview Dental Holdings, LLC(1)(2)Delayed Draw Term Loan328 328 
PDQ.Com Corporation(1)Delayed Draw Term Loan1,970 1,970 
PDQ.Com Corporation(1)Delayed Draw Term Loan4,807 4,807 
Polara Enterprises, L.L.C.(1)Revolver545 545 
Premium Invest(1)(3)Acquisition Facility1,674 1,712 
Process Insights Acquisition, Inc.(1)Delayed Draw Term Loan935 935 
Process Insights Acquisition, Inc.(1)Revolver— 1,014 
Process Insights Acquisition, Inc.(1)Revolver862 — 
ProfitOptics, LLC(1)(2)Revolver89 210 
Protego Bidco B.V.(1)(2)(3)Delayed Draw Term Loan508 656 
PSP Intermediate 4, LLC(1)(2)(3)Delayed Draw Term Loan202 206 
Qualified Industries, LLC(1)Revolver242 242 
R1 Holdings, LLC(1)Delayed Draw Term Loan1,682 1,682 
R1 Holdings, LLC(1)Revolver1,947 1,947 
RA Outdoors, LLC(1)(2)Revolver— 438 
Randys Holdings, Inc.(1)Delayed Draw Term Loan3,003 3,412 
Randys Holdings, Inc.(1)Revolver1,373 1,326 
Rhondda Financing No. 1 DAC(1)(4)Structured Junior Note4,615 4,707 
Rocade Holdings LLC(1)Preferred Equity17,500 17,500 
Rock Labor, LLC(1)(2)Revolver1,103 1,103 
Royal Buyer, LLC(1)Revolver1,748 1,340 
Royal Buyer, LLC(1)Delayed Draw Term Loan922 922 
RTIC Subsidiary Holdings, LLC(1)(2)Revolver873 3,333 
Sanoptis S.A.R.L.(1)(3)Acquisition Capex Facility— 16 
Sanoptis S.A.R.L.(1)(2)(3)CAF Term Loan461 1,458 
SBP Holdings LP(1)Delayed Draw Term Loan— 151 
SBP Holdings LP(1)Revolver710 1,065 
Scaled Agile, Inc.(1)(2)Revolver280 280 
Scout Bidco B.V.(1)(2)(3)Revolver625 640 
Security Holdings B.V.(1)(2)(3)Delayed Draw Term Loan2,160 2,209 
Security Holdings B.V.(1)(2)(3)Revolver1,080 1,105 
Sinari Invest(1)(2)(3)Delayed Draw Term Loan603 617 
SISU ACQUISITIONCO., INC.(1)(2)Delayed Draw Term Loan503 1,007 
Smartling, Inc.(1)Revolver1,176 1,176 
SmartShift Group, Inc.(1)Delayed Draw Term Loan3,440 3,440 
SmartShift Group, Inc.(1)Revolver1,651 1,651 
Solo Buyer, L.P.(1)Revolver1,330 1,330 
Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.)(1)(2)Delayed Draw Term Loan399 399 
Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.)(1)(2)Revolver117 90 
Spatial Business Systems LLC(1)Delayed Draw Term Loan1,875 1,875 
Spatial Business Systems LLC(1)Revolver1,406 1,406 
SSCP Pegasus Midco Limited(1)(2)(4)Delayed Draw Term Loan3,428 4,119 
Superjet Buyer, LLC(1)Revolver1,369 1,369 
SVI International LLC(1)Delayed Draw Term Loan74 — 
Portfolio Company
($ in thousands)		Investment TypeMarch 31, 2024December 31, 2023
SVI International LLC(1)Revolver74 — 
Syntax Systems Ltd(1)Revolver283 391 
Tank Holding Corp(1)Delayed Draw Term Loan509 614 
Tank Holding Corp(1)Revolver655 640 
Tanqueray Bidco Limited(1)(4)Capex Facility1,143 1,153 
Techone B.V.(1)(2)(3)Revolver513 315 
Tencarva Machinery Company, LLC(1)(2)Revolver1,129 1,129 
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)(1)Delayed Draw Term Loan— 1,825 
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)(1)Revolver827 827 
The Cleaver-Brooks Company, Inc.(1)Revolver3,229 3,229 
The Hilb Group, LLC(1)Delayed Draw Term Loan— 313 
Trader Corporation(1)(6)Revolver345 354 
Trintech, Inc.(1)Revolver383 383 
TSYL Corporate Buyer, Inc.(1)Delayed Draw Term Loan2,244 2,244 
TSYL Corporate Buyer, Inc.(1)Delayed Draw Term Loan911 1,469 
TSYL Corporate Buyer, Inc.(1)Revolver642 642 
Turbo Buyer, Inc.(1)(2)Delayed Draw Term Loan— 1,350 
UBC Ledgers Holding AB(1)(2)(9)Delayed Draw Term Loan791 840 
UBC Ledgers Holding AB(1)(2)(9)Revolver262 278 
Union Bidco Limited(1)(4)Acquisition Facility82 83 
United Therapy Holding III GmbH(1)(2)(3)Acquisition Facility668 683 
Unither (Uniholding)(1)(3)Delayed Draw Term Loan468 479 
USLS Acquisition, Inc.(f/k/a US Legal Support, Inc.)(1)(2)Delayed Draw Term Loan2,512 2,540 
West-NR AcquisitionCo., LLC(1)Delayed Draw Term Loan2,500 2,500 
Whitcraft Holdings, Inc.(1)Revolver981 1,760 
White Bidco Limited(1)Delayed Draw Term Loan514 514 
Woodland Foods, Inc.(1)(2)Line of Credit336 680 
World 50, Inc.(1)(2)Revolver973 — 
WWEC Holdings III Corp(1)(2)Revolver2,484 2,019 
Xeinadin Bidco Limited(1)(2)(4)CAF Term Loan2,099 2,704 
ZB Holdco LLC(1)Delayed Draw Term Loan— 2,932 
ZB Holdco LLC(1)(2)Delayed Draw Term Loan762 — 
ZB Holdco LLC(1)(2)Revolver541 845 
Zeppelin Bidco Limited(1)(2)(4)Capex / Acquisition Facility— 2,667 
Total unused commitments to extend financing$279,806 $305,903 
(1)The Adviser’s estimate of the fair value of the current investments in these portfolio companies includes an analysis of the fair value of any unfunded commitments.
(2)Represents a commitment to extend financing to a portfolio company where one or more of the Company’s current investments in the portfolio company are carried at less than cost.
(3)Actual commitment amount is denominated in Euros. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(4)Actual commitment amount is denominated in British pounds sterling. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(5)Actual commitment amount is denominated in Australian dollars. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(6)Actual commitment amount is denominated in Canadian dollars. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(7)Actual commitment amount is denominated in New Zealand dollars. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(8)Actual commitment amount is denominated in Norwegian kroner. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
(9)Actual commitment amount is denominated in Swedish kronor. Commitment was translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
In the normal course of business, the Company guarantees certain obligations in connection with its portfolio companies (in particular, certain controlled portfolio companies). Under these guarantee arrangements, payments may be required to be made to third parties if such guarantees are called upon or if the portfolio companies were to default on their related obligations, as applicable. As of both March 31, 2024 and December 31, 2023, the Company had guaranteed €9.9 million ($10.7 million U.S. dollars and $10.9 million U.S. dollars, respectively) relating to credit facilities among Erste Bank and MVC Automotive Group Gmbh (“MVC Auto”) that mature in December 2025. The Company would be required to make payments to Erste Bank if MVC Auto were to default on their related payment obligations. None of the credit facility guarantees are recorded as a liability on the Company’s Unaudited and Audited Consolidated Balance Sheets, as such the credit facility liabilities are considered in the valuation of the investments in MVC Auto. The guarantees denominated in foreign currencies were translated into U.S. dollars based on the spot rate at the relevant balance sheet date.
Neither the Company, the Adviser, nor the Company’s subsidiaries are currently subject to any material pending legal proceedings, other than ordinary routine litigation incidental to their respective businesses. The Company, the Adviser, and the Company’s subsidiaries may from time to time, however, be involved in litigation arising out of operations in the normal course of business or otherwise, including in connection with strategic transactions. Furthermore, third parties may seek to impose liability on the Company in connection with the activities of its portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, the Company does not expect any current matters will materially affect its financial condition or results of operations; however, there can be no assurance whether any pending legal proceedings will have a material adverse effect on the Company’s financial condition or results of operations in any future reporting period.