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Commitments and Contingencies
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
The Company enters into contracts that contain a variety of indemnification provisions. The Company’s maximum exposure under these arrangements is unknown; however, the Company has not had prior claims or losses pursuant to these contracts. The Adviser has reviewed the Company’s existing contracts and expects the risk of loss to the Company to be remote.
The Company is not currently subject to any material legal proceedings and, to the Company’s knowledge, no material legal proceedings are threatened against the Company. From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, the Company does not expect that any such proceedings will have a material effect upon its financial condition or results of operations.
Unfunded commitments to provide funds to portfolio companies are not recorded in the Company’s consolidated balance sheets. Since these commitments may expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company has sufficient liquidity to fund these commitments. As of June 30, 2024, the Company’s unfunded commitments consisted of the following:
Category / Company(1)
Commitment Amount
Senior Secured Loans—First Lien
3Pillar Global Inc$6.1 
48Forty Solutions LLC2.1 
Advanced Dermatology & Cosmetic Surgery3.2 
Affordable Care Inc9.6 
Affordable Care Inc10.4 
Alacrity Solutions Group LLC2.5 
Alera Group Intermediate Holdings Inc6.4 
American Vision Partners3.4 
Amerivet Partners Management Inc8.4 
Apex Service Partners LLC2.8 
Apex Service Partners LLC1.6 
Arcfield Acquisition Corp10.6 
Arcos LLC/VA4.5 
Ardonagh Group Ltd/The3.4 
ATX Networks Corp5.4 
BGB Group LLC19.9 
BGB Group LLC7.4 
Bowery Farming Inc5.0 
Cadence Education LLC8.5 
Cadence Education LLC14.4 
CFC Underwriting Ltd5.7 
Circana Group (f.k.a. NPD Group)0.4 
Civica Group Ltd6.4 
Clarience Technologies LLC21.0 
Clarience Technologies LLC21.7 
Community Brands Inc1.9 
Consilium Safety Group AB10.5 
CSafe Global4.7 
CSafe Global7.8 
Dechra Pharmaceuticals Ltd3.4 
Dechra Pharmaceuticals Ltd3.6 
Dental365 LLC5.1 
Dental365 LLC13.7 
DOC Generici Srl2.3 
DOXA Insurance Holdings LLC3.3 
DOXA Insurance Holdings LLC3.0 
Category / Company(1)
Commitment Amount
DOXA Insurance Holdings LLC$22.6 
DuBois Chemicals Inc14.7 
DuBois Chemicals Inc14.7 
Envirotainer Ltd2.7 
Excelitas Technologies Corp2.4 
Excelitas Technologies Corp23.4 
Follett Software Co9.9 
Foundation Consumer Brands LLC6.6 
Foundation Risk Partners Corp11.8 
Foundation Risk Partners Corp23.0 
Galway Partners Holdings LLC11.2 
Galway Partners Holdings LLC8.4 
Gigamon Inc5.6 
Granicus Inc2.4 
Granicus Inc2.2 
Heniff Transportation Systems LLC5.2 
Heritage Environmental Services Inc7.3 
Higginbotham Insurance Agency Inc16.2 
Highgate Hotels Inc3.0 
HM Dunn Co Inc2.7 
Individual FoodService2.9 
Individual FoodService5.9 
iNova Pharmaceuticals (Australia) Pty Limited1.6 
Insight Global LLC47.9 
Insightsoftware.Com Inc20.2 
Insightsoftware.Com Inc4.6 
Integrity Marketing Group LLC1.6 
Integrity Marketing Group LLC0.1 
J S Held LLC1.4 
Karman Space Inc0.1 
Kellermeyer Bergensons Services LLC5.5 
Laboratoires Vivacy SAS0.6 
Lakeview Farms Inc6.8 
Lazer Logistics Inc1.9 
Lazer Logistics Inc5.7 
Lexitas Inc8.4 
Lexitas Inc28.6 
Lipari Foods LLC15.0 
Lloyd's Register Quality Assurance Ltd4.1 
Magna Legal Services LLC2.2 
Magna Legal Services LLC11.2 
MB2 Dental Solutions LLC77.3 
MB2 Dental Solutions LLC8.3 
Med-Metrix7.8 
Misys Ltd1.4 
Model N Inc5.1 
Model N Inc2.7 
Net Documents1.2 
New Era Technology Inc0.9 
Nordic Climate Group Holding AB17.6 
Category / Company(1)
Commitment Amount
NovaTaste Austria GmbH$4.9 
OEConnection LLC10.3 
OEConnection LLC6.4 
Oxford Global Resources LLC7.6 
PartsSource Inc2.0 
PartsSource Inc16.9 
PSC Group2.1 
PSC Group5.5 
Radwell International LLC/PA5.3 
Reliant Rehab Hospital Cincinnati LLC2.1 
Revere Superior Holdings Inc3.8 
Rise Baking Company4.3 
RSC Insurance Brokerage Inc7.6 
Safe-Guard Products International LLC8.8 
SAMBA Safety Inc1.6 
Shaw Development LLC3.4 
Spins LLC9.1 
Spins LLC7.9 
Spotless Brands LLC6.0 
STV Group Inc7.7 
STV Group Inc11.9 
Sweeping Corp of America Inc5.7 
Time Manufacturing Co14.7 
Trescal SA1.0 
Turnpoint Services Inc1.6 
Turnpoint Services Inc2.5 
Version1 Software Ltd— 
Version1 Software Ltd12.3 
VetCor Professional Practices LLC6.6 
VetCor Professional Practices LLC4.2 
Wealth Enhancement Group LLC1.1 
Wealth Enhancement Group LLC2.1 
Woolpert Inc14.8 
Woolpert Inc37.1 
Worldwise Inc28.0 
Worldwise Inc3.4 
Zendesk Inc14.4 
Zendesk Inc6.0 
Zeus Industrial Products Inc11.6 
Zeus Industrial Products Inc15.5 
Senior Secured Loans—Second Lien
Valeo Foods Group Ltd3.0 
Subordinated Debt
Miami Beach Medical Group LLC12.1 
Asset Based Finance
Altitude II IRL WH Borrower DAC, Revolver4.9 
Bausch Health Cos Inc, Revolver60.0 
Callodine Commercial Finance LLC, 2L Term Loan B36.1 
Covis Finco Sarl, Revolver1.8 
Covis Finco Sarl, Revolver1.9 
Category / Company(1)
Commitment Amount
Covis Finco Sarl, Revolver1.9 
Curia Global Inc, Revolver41.3 
GreenSky Holdings LLC, Term Loan3.0 
TalkTalk Telecom Group Ltd, Revolver12.7 
Weber-Stephen Products LLC, Revolver28.3 
Total$1,269.5 
Unfunded Asset Based Finance/Other commitments$481.4 
_____________
(1)May be commitments to one or more entities affiliated with the named company.
As of June 30, 2024, the Company’s debt commitments are comprised of $589.7 revolving credit facilities and $679.8 delayed draw term loans, which generally are used for acquisitions or capital expenditures and are subject to certain performance tests. Such unfunded debt commitments have a fair value representing unrealized appreciation (depreciation) of $(11.8). The Company’s unfunded Asset Based Finance/Other commitments generally require certain conditions to be met or actual approval from the Adviser prior to funding.
The Senior Secured Revolving Credit Facility provides for the issuance of letters of credit in an initial aggregate face amount of up to $175, subject to increase or reduction from time to time pursuant to the terms of the Senior Secured Revolving Credit Facility. As of June 30, 2024, $23 of such letters of credit have been issued.
As of June 30, 2024, the Company also has an unfunded commitment to provide $735.2 of capital to COPJV. The capital commitment can be satisfied with contributions of cash and/or investments. The capital commitments cannot be drawn without an affirmative vote by both the Company’s and SCRS’s representatives on COPJV’s board of managers.
While the Company does not expect to fund all of its unfunded commitments, there can be no assurance that it will not be required to do so.
In the normal course of business, the Company may enter into guarantees on behalf of portfolio companies. Under such arrangements, the Company would be required to make payments to third parties if the portfolio companies were to default on their related payment obligations. The Company has no such guarantees outstanding at June 30, 2024 and December 31, 2023.