Financial Highlights (Tables)

6 Months Ended

Jun. 30, 2023

Investment Company, Financial Highlights [Abstract]

The following is a schedule of financial highlights for the six months ended June 30, 2023 and 2022:


	For the Six Months Ended June 30,
	2023				2022
Per share data:
Net asset value at beginning of period	$	17.29			$	17.04
Net investment income (1)		1.10				0.75
Net realized gain (loss) (1)(7)		(0.27	)			0.08
Net change in unrealized appreciation (1)(2)(8)		0.08				(0.04	)
Net increase in net assets resulting from operations (1)(9)(10)		0.91				0.79
Shareholder distributions from income (3)		(0.76	)			(0.68	)
Net asset value at end of period	$	17.44			$	17.15
Net assets at end of period	$	1,125,779			$	1,107,014
Shares outstanding at end of period		64,562,265.27				64,562,265.27
Per share market value at end of period	$	13.51			$	13.61
Total return based on market value (12)		20.44		%		(6.28	)	%
Total return based on net asset value (4)		5.29		%		4.65		%
Ratios:
Ratio of net investment income to average net assets (5)(11)(13)		14.34		%		9.51		%
Ratio of total expenses to average net assets (5)(11)(13)		12.78		%		8.43		%
Supplemental data:
Ratio of interest and debt financing expenses to average net assets (5)(13)		7.21		%		3.95		%
Ratio of expenses (without incentive fees) to average net assets (5)(11)(13)		11.43		%		7.76		%
Ratio of incentive fees and management fees, net of contractual and voluntary waivers, to average net assets (5)(11)(13)		4.60		%		3.73		%
Average principal debt outstanding	$	1,476,709			$	1,267,665
Portfolio turnover (6)		21.10		%		18.66		%

(1)

The per share data was derived by using the weighted average shares outstanding during the period.

(2)

Net change in unrealized appreciation on investments per share may not be consistent with the consolidated statements of operations due to the timing of shareholder transactions.

(3)

The per share data for distributions reflects the actual amount of distributions declared during the period.

(4)

Total return based on net asset value is calculated as the change in net asset value per share during the period, assuming dividends and distributions, including those distributions that have been declared. Total return has not been annualized.

(5)

The computation of average net assets during the year is based on averaging net assets for the periods reported.

(6)

Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported.

(7)

Net realized gain (loss) includes net realized gain (loss) on investments, net realized gain (loss) on forward currency exchange contracts, net realized gain (loss) on foreign currency transactions, and net realized loss on extinguishment of debt.

(8)

Net change in unrealized appreciation includes net change in unrealized appreciation on investments, net change in unrealized appreciation on forward currency exchange contracts and net change in unrealized appreciation on foreign currency translation.

(9)

The sum of quarterly per share amounts presented in previously filed financial statements on Form 10‑Q may not equal earnings per share. This is due to changes in the number of weighted average shares outstanding and the effects of rounding.

(10)

Net increase in net assets resulting from operations per share in these financial highlights may be different from the net increase (decrease) in net assets per share on the consolidated statements of operations due to changes in the number of weighted average shares outstanding and the effects of rounding.

(11)

The ratio of voluntary incentive fee waiver to average net assets was 0.00% and 0.00% for the six months ended June 30, 2023 and 2022, respectively (Note 5). The ratio of voluntary management fee waiver to average net assets was 0.00% and 0.00% for the six months ended June 30, 2023 and 2022, respectively (Note 5). The ratio of net investment income without the voluntary incentive fee waiver and voluntary management fee waiver to average net assets for the six months ended June 30, 2023 would be 14.34%. The ratio of net investment income without the voluntary incentive fee waiver to average net assets for the six months ended June 30, 2022 would be 9.51%. The ratio of total expenses without the voluntary incentive fee waiver and voluntary management fee waiver to average net assets for the six months ended June 30, 2023 would be 12.78%. The ratio of total expenses without the voluntary incentive fee waiver to average net assets for the six months ended June 30, 2022 would be 8.43%.

(12)

Total return based on market value is calculated as the change in market value per share during the period, assuming dividends and distributions, including those distributions that have been declared. Total return has not been annualized.

(13)

Ratio is annualized. Incentive fees, voluntary incentive fee waivers, and voluntary management fee waivers, if any, included within the ratio are not annualized.