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MIDDLE MARKET CREDIT FUND, LLC - Summarized Financial Information (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
ASSETS                
Investments, at fair value $ 1,896,420 [1]   $ 1,896,420 [1]     $ 1,979,877 [2]    
Cash, cash equivalents and restricted cash 54,150 $ 39,291 54,150 $ 39,291   30,506   $ 93,074
Total assets 1,982,597   1,982,597     2,041,697    
LIABILITIES AND MEMBERS’ EQUITY                
Secured borrowings 400,241 443,395 400,241 443,395 $ 455,859 440,441 $ 359,679 $ 407,655
Amortized cost 1,963,144   1,963,144     2,049,975    
Selected Consolidated Statement of Operations Information:                
Total investment income 60,065 44,568 118,440 92,077        
Expenses:                
Total expenses 32,240 22,522 63,522 44,159        
Net investment income (loss) 27,175 21,870 53,745 47,389        
Net realized gain (loss) on investments and non-investment assets and liabilities (7,946) 15 (21,314) 5,486        
Net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities (14,516) (17,220) 269 (17,527)        
Net increase (decrease) in net assets resulting from operations 4,713 4,665 32,700 35,348        
Debt and equity securities | Credit Fund                
ASSETS                
Investments, at fair value 189,101   189,101     190,065    
Credit Fund                
ASSETS                
Investments, at fair value 797,867   797,867     902,720    
Cash, cash equivalents and restricted cash 31,504   31,504     28,030    
Other assets 9,723   9,723     9,681    
Total assets 839,094   839,094     940,431    
LIABILITIES AND MEMBERS’ EQUITY                
Secured borrowings 499,221   499,221     588,621    
Other liabilities 20,462   20,462     19,940    
Subordinated loans and members’ equity 319,411   319,411     331,870    
Total liabilities and members’ equity 839,094   839,094     940,431    
Amortized cost 853,096   853,096     953,467    
Restricted cash and cash equivalents 14,694   14,694     $ 14,393    
Selected Consolidated Statement of Operations Information:                
Total investment income 22,491 14,807 45,445 29,486        
Expenses:                
Interest and credit facility expenses 10,440 5,079 20,712 9,125        
Other expenses 548 600 1,001 1,097        
Total expenses 10,988 5,679 21,713 10,222        
Net investment income (loss) 11,503 9,128 23,732 19,264        
Net realized gain (loss) on investments and non-investment assets and liabilities (7,477) 0 (9,709) 0        
Net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities (1,606) (17,169) (4,482) (27,038)        
Net increase (decrease) in net assets resulting from operations $ 2,420 $ (8,041) $ 9,541 $ (7,774)        
[1] Fair value is determined in good faith by the Investment Adviser, as the valuation designee pursuant to Rule 2a-5 under the Investment Company Act (see Note 2, Significant Accounting Policies, and Note 3, Fair Value Measurements, to these unaudited consolidated financial statements), pursuant to the Company’s valuation policy. The fair value of all first lien and second lien debt investments, equity investments and the investment funds was determined using significant unobservable inputs.
[2] The Company has determined the indicated investments are non-qualifying assets under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Company may not acquire any non-qualifying assets unless, at the time such acquisition is made, qualifying assets represent at least 70% of the Company’s total assets.