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Fair Value Measurements (Tables)
 9 Months Ended
Jun. 30, 2024
Fair Value Measurements [Abstract]  
Schedule of Fair Value Measurements of Our Investments The following table presents the fair value measurements of our investments, by major class according to the fair value hierarchy, as of June 30, 2024 (dollars in thousands):
   Fair Value Hierarchy as of
June 30, 2024		 
Investments:  Level 1   Level 2   Level 3   Total 
Senior Secured First Lien Term Loans  $
-
   $45,955   $71,245   $117,200 
Senior Secured Notes   
-
    12,607    10,422    23,029 
Equity/Warrants   32,927    
-
    59,718    92,645 
Total  $32,927   $58,562   $141,385   $232,874 
Investments measured at net asset value(1)                  807 
Total Investments, at fair value                 $233,681 
(1) Certain investments that are measured at fair value using NAV have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the Consolidated Statements of Assets and Liabilities.
The following table presents the fair value measurements of our investments, by major class according to the fair value hierarchy, as of September 30, 2023 (dollars in thousands):
   Fair Value Hierarchy as of
September 30, 2023		 
Investments:  Level 1   Level 2   Level 3   Total 
Senior Secured First Lien Term Loans  $
-
   $20,505   $82,499   $103,004 
Senior Secured Notes   
-
    8,922    
-
    8,922 
Equity/Warrants   24,709    6,217    82,817    113,743 
Total  $24,709   $35,644   $165,316   $225,669 
Investments measured at net asset value(1)                  792 
Total Investments, at fair value                 $226,461 
(1) Certain investments that are measured at fair value using NAV have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the Consolidated Statements of Assets and Liabilities.
Schedule of Reconciliation of the Beginning and Ending Balances for Investments that Use Level 3 Inputs The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the nine months ended June 30, 2024 (dollars in thousands):
   Senior Secured
First Lien
Term Loans		   Senior Secured
Notes		   Equities/
Warrants		   Total 
Balance as of September 30, 2023  $82,499   $
-
   $82,817   $165,316 
Purchases and other adjustments to cost   28,457    34,000    42,293    104,750 
Sales (including repayments or maturities)   (29,587)   (23,578)   (57,701)   (110,866)
Net realized gains/(losses) from investments   (8,785)   
-
    15,747    6,962 
Net unrealized gains/(losses)   22,220    
-
    (23,438)   (1,218)
Transfer in/(out)   (23,559)   
-
    
-
    (23,559)
Balance as of June 30, 2024  $71,245   $10,422   $59,718   $141,385 

 

The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the nine months ended June 30, 2023 (dollars in thousands):
   Senior Secured
First Lien
Term Loans		   Senior Secured
Second Lien
Term Loans		   Unsecured
Debt		   Equities/
Warrants		   Fund
Investment		   Total 
Balance as of September 30, 2022  $74,252   $2,607   $
-
   $69,816   $
-
   $146,675 
Purchases and other adjustments to cost   22,722    
-
    
-
    17,883    1,027    41,632 
Sales (including repayments or maturities)   (7,256)   (2,607)   (30)   (23,858)   
-
    (33,751)
Net realized gains/(losses) from investments   105    5    1    (927)   
-
    (816)
Net unrealized gains/(losses)   (3,698)   (5)   190    13,055    (65)   9,477 
Transfer in/(out)   
-
    
-
    
-
    
-
    
-
    
-
 
Balance as of June 30, 2023  $86,125   $
-
   $161   $75,969   $962   $163,217 
Schedule of Quantitative Information About Level 3 Fair Value Measurements of Our Investments The following table presents the quantitative information about Level 3 fair value measurements of our investments, as of June 30, 2024 (dollars in thousands):
   Fair Value   Valuation
Methodology		  Unobservable
Input		  Range
(Weighted Average)		  Impact to
Valuation From
An Increase In
Input
Senior Secured First Lien Term Loans  $59,588   Income Approach  Market Yield  3.3% - 42.5% (16.9%)  Decrease
Senior Secured First Lien Term Loans   7,062   Recent Purchase  Purchase Price 
N/A
  N/A
Senior Secured First Lien Term Loans   4,245   Market Approach  EBITDA Multiple  3.3x - 8.3x (4.7x)  Increase
Senior Secured First Lien Term Loans   350   Cost Approach  Collateral Value 
N/A
  N/A
Senior Secured Notes   10,422   Recent Purchase  Purchase Price 
N/A
  N/A
Equity/Warrants   34,708   Cost Approach  Collateral Value 
N/A
  N/A
Equity/Warrants   24,812   Market Approach  EBITDA Multiple  1.0x - 10.8x (8.7x)  Increase
Equity/Warrants   100   Recent Purchase  Purchase Price 
N/A
  N/A
Equity/Warrants   98   Income Approach  DLOM (Discount for lack of Marketability)  26.0%-31.0% (28.5%)  Decrease
Total  $141,385             

 

The following table presents the quantitative information about Level 3 fair value measurements of our investments, as of September 30, 2023 (dollars in thousands):
   Fair Value   Valuation Methodology  Unobservable Input  Range
(Weighted Average)		  Impact to
Valuation From
An Increase In
Input
Senior Secured First Lien Term Loans  $69,943   Income Approach  Market Yield  8.50% - 32.0% (13.78%)  Decrease
Senior Secured First Lien Term Loans   751   Market Approach  Revenue Multiple  0.3x - 0.3x (0.3x)  Increase
Senior Secured First Lien Term Loans   10,939   Market Approach  EBITDA Multiple  1.7x - 5.0x (3.1x)  Increase
Senior Secured First Lien Term Loans   866   Market Approach  LTM EBITDA Multiple  5.8x - 6.8x (6.3x)  Increase
Equity/Warrants   38,870   Cost Approach  Collateral Value 
N/A
  N/A
Equity/Warrants   11,734   Market Approach  LTM Multiple  5.8x - 6.8x (6.3x)  Increase
Equity/Warrants   22,007   Market Approach  EBITDA Multiple  1.8x - 36.8x (2.8x)  Increase
Equity/Warrants   10,000   Recent Purchase  Purchase Price 
N/A
  N/A
Equity/Warrants   206   Income Approach  DLOM (Discount for lack of Marketability)  3.0x - 3.2x (3.1x)  Decrease
Total  $165,316