XML 38 R31.htm IDEA: XBRL DOCUMENT v3.25.1
Agreements and Related Party Transactions - Additional Information (Details) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Sep. 30, 2024
Related Party Transaction [Line Items]            
Annual rate of base management fee       1.00%    
Base management fee $ 5,600,000   $ 3,400,000 $ 10,900,000 $ 6,400,000  
Base management fee calculation description       The base management fee is calculated based on the average adjusted gross assets at the end of the two most recently completed calendar quarters, and appropriately adjusted for any share issuances or repurchases during the current calendar quarter.    
Incentive fee quarter hurdle rate   1.75%        
Incentive fee annual hurdle rate       7.00%    
Incentive fees on net investment income 6,300,000   4,800,000 $ 13,800,000 9,600,000  
Description of incentive fee on net investment income       We pay the Investment Adviser an incentive fee with respect to our Pre-Incentive Fee Net Investment Income in each calendar quarter as follows: (1) no incentive fee in any calendar quarter in which our Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate of 1.75%, (2) 50% of our Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than 2.9167% in any calendar quarter (11.67% annualized) (we refer to this portion of our Pre-Incentive Fee Net Investment Income (which exceeds the hurdle but is less than 2.9167%) as the “catch-up,” which is meant to provide our Investment Adviser with 20% of our Pre-Incentive Fee Net Investment Income, as if a hurdle did not apply, if this net investment income exceeds 2.9167% in any calendar quarter), and (3) 20% of the amount of our Pre-Incentive Fee Net Investment Income, if any, that exceeds 2.9167% in any calendar quarter.    
Incentive fee on capital gains percentage       20.00%    
Incentive fee on capital gains accrued 0   0 $ 0 0  
Incentive fee on unrealized and realized capital gains accrued 0   0 0 0  
Administration fees 1,200,000   1,255,000 2,400,000 2,243,000  
Net investment income 25,030,000   19,088,000 54,997,000 38,537,000  
Other Related Party            
Related Party Transaction [Line Items]            
Net investment income 0   0 0 0  
PennantPark Senior Secured Loan Fund I LLC            
Related Party Transaction [Line Items]            
Administration fees [1] 717,000   577,000 1,385,000 1,135,000  
Net investment income 52,900,000   77,200,000 240,600,000 139,900,000  
Receivable from the Administraton 100,000     100,000   $ 300,000
Net realised loss on sale of investment 0   0 (100,000) 0  
Administrator            
Related Party Transaction [Line Items]            
Administration fees $ 500,000   $ 500,000 900,000 $ 800,000  
Incentive Fee Payment Condition One            
Related Party Transaction [Line Items]            
Incentive fees on net investment income       $ 0    
Incentive Fee Payment Condition One | Maximum            
Related Party Transaction [Line Items]            
Incentive fee quarter hurdle rate       1.75%    
Incentive Fee Payment Condition Two            
Related Party Transaction [Line Items]            
Pre-incentive fee net investment income percentage       50.00%    
Incentive Fee Payment Condition Two | Maximum            
Related Party Transaction [Line Items]            
Incentive fee quarter hurdle rate       2.9167%    
Incentive fee annual hurdle rate       11.67%    
Incentive Fee Payment Condition Two | Minimum            
Related Party Transaction [Line Items]            
Incentive fee quarter hurdle rate       2.9167%    
Pre-incentive fee net investment income percentage       20.00%    
Incentive Fee Payment Condition Three            
Related Party Transaction [Line Items]            
Pre-incentive fee net investment income percentage       20.00%    
Incentive Fee Payment Condition Three | Minimum            
Related Party Transaction [Line Items]            
Incentive fee quarter hurdle rate       2.9167%    
[1]

(1) No management or incentive fees are payable by PSSL. If any fees were to be charged, they would be separately disclosed in the Consolidated Statement of Operations.