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INVESTMENTS - Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023
Total |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | $ 749,717 | $ 619,194 | $ 704,562 | $ 643,160
New investments, repayments and settlements: |  |  |  |
Issuances/originations | 46,128 | 64,848 | 105,337 | 77,005
Settlements/repayments | (14,470) | (9,342) | (36,313) | (34,891)
Net proceeds from sales | (969) | (654) | (1,229) | (8,632)
Transfers | 0 | 0 | 0 | 0
Ending balance | 791,324 | 676,163 | 791,324 | 676,163
Total | Net realized gain (loss) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 219 | 403 | 478 | 5,303
Total | Net unrealized appreciation (depreciation) and Reversal of prior period net depreciation (appreciation) on realization |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 10,431 | 1,607 | 18,504 | (1,092)
Reversal of prior period net depreciation (appreciation) on realization | 268 | 107 | (15) | (4,690)
Secured first lien debt |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 546,602 | 450,243 | 510,701 | 463,858
New investments, repayments and settlements: |  |  |  |
Issuances/originations | 29,951 | 58,385 | 79,975 | 69,860
Settlements/repayments | (10,687) | (7,646) | (31,806) | (32,384)
Net proceeds from sales | 0 | 0 | 0 | 0
Transfers | 0 | 0 | 0 | 0
Ending balance | 563,849 | 498,947 | 563,849 | 498,947
Secured first lien debt | Net realized gain (loss) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 0 | (107) | 0 | (107)
Secured first lien debt | Net unrealized appreciation (depreciation) and Reversal of prior period net depreciation (appreciation) on realization |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | (1,998) | (2,035) | 4,998 | (2,490)
Reversal of prior period net depreciation (appreciation) on realization | (19) | 107 | (19) | 210
Secured second lien debt |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 126,571 | 114,755 | 127,854 | 115,928
New investments, repayments and settlements: |  |  |  |
Issuances/originations | 15,177 | 4,060 | 15,362 | 4,242
Settlements/repayments | (3,783) | (1,696) | (4,507) | (2,507)
Net proceeds from sales | 0 | 0 | 0 | 0
Transfers | 0 | 0 | 0 | 0
Ending balance | 140,409 | 117,438 | 140,409 | 117,438
Secured second lien debt | Net realized gain (loss) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 0 | 0 | 0 | 0
Secured second lien debt | Net unrealized appreciation (depreciation) and Reversal of prior period net depreciation (appreciation) on realization |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 2,287 | 319 | 1,543 | (225)
Reversal of prior period net depreciation (appreciation) on realization | 157 | 0 | 157 | 0
Unsecured debt |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 23 | 45 | 24 | 55
New investments, repayments and settlements: |  |  |  |
Issuances/originations | 0 | 0 | 0 | 0
Settlements/repayments | 0 | 0 | 0 | 0
Net proceeds from sales | 0 | 0 | 0 | 0
Transfers | 0 | 0 | 0 | 0
Ending balance | 33 | 36 | 33 | 36
Unsecured debt | Net realized gain (loss) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 0 | 0 | 0 | (95)
Unsecured debt | Net unrealized appreciation (depreciation) and Reversal of prior period net depreciation (appreciation) on realization |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 10 | (9) | 9 | (19)
Reversal of prior period net depreciation (appreciation) on realization | 0 | 0 | 0 | 95
Preferred Equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 29,722 | 26,140 | 26,855 | 27,046
New investments, repayments and settlements: |  |  |  |
Issuances/originations | 1,000 | 371 | 10,000 | 371
Settlements/repayments | 0 | 0 | 0 | 0
Net proceeds from sales | (969) | (654) | (969) | (654)
Transfers | 0 | 0 | 0 | 0
Ending balance | 32,598 | 28,298 | 32,598 | 28,298
Preferred Equity | Net realized gain (loss) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 219 | 510 | 219 | 510
Preferred Equity | Net unrealized appreciation (depreciation) and Reversal of prior period net depreciation (appreciation) on realization |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 2,496 | 1,931 | (3,637) | 1,025
Reversal of prior period net depreciation (appreciation) on realization | 130 | 0 | 130 | 0
Common Equity/ Equivalents |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 46,799 | 28,011 | 39,128 | 36,273
New investments, repayments and settlements: |  |  |  |
Issuances/originations | 0 | 2,032 | 0 | 2,532
Settlements/repayments | 0 | 0 | 0 | 0
Net proceeds from sales | 0 | 0 | (260) | (7,978)
Transfers | 0 | 0 | 0 | 0
Ending balance | 54,435 | 31,444 | 54,435 | 31,444
Common Equity/ Equivalents | Net realized gain (loss) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 0 | 0 | 259 | 4,995
Common Equity/ Equivalents | Net unrealized appreciation (depreciation) and Reversal of prior period net depreciation (appreciation) on realization |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Total gain (loss) | 7,636 | 1,401 | 15,591 | 617
Reversal of prior period net depreciation (appreciation) on realization | $ 0 | $ 0 | $ (283) | $ (4,995)

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