Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
For the quarterly period ended
or
Commission file number:
(Exact Name of Registrant as Specified in Its Charter)
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(State or Other Jurisdiction of Incorporation or Organization) |
(I.R.S. Employer Identification No.) |
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(Address of Principal Executive Offices) |
(Zip Code) |
Registrant’s Telephone Number, Including Area Code: (
Not Applicable
Former Name, Former Address and Former Fiscal Year, If Changed Since Last Report.
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
None |
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None |
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None |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ no ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ no ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer: |
☐ |
Accelerated filer: |
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☒ |
Smaller reporting company: |
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Emerging growth company: |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YES ☐ NO
As of August 8, 2023, there were
GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC
QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2023
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INDEX |
PAGE |
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3 |
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PART I |
4 |
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ITEM 1. |
4 |
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4 |
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5 |
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6 |
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7 |
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8 |
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25 |
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ITEM 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
44 |
ITEM 3. |
56 |
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ITEM 4. |
56 |
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PART II |
57 |
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ITEM 1. |
57 |
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ITEM 1A. |
57 |
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ITEM 2. |
57 |
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ITEM 3. |
57 |
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ITEM 4. |
57 |
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ITEM 5. |
57 |
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ITEM 6. |
57 |
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59 |
2
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue” or “believe” or the negatives of, or other variations on, these terms or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. Our forward-looking statements include information in this report regarding general domestic and global economic conditions, our future financing plans, our ability to operate as a business development company (“BDC”) and the expected performance of, and the yield on, our portfolio companies. There may be events in the future, however, that we are not able to predict accurately or control. The factors listed under “Risk Factors” in this report, in our annual report on Form 10-K for the year ended December 31, 2022 and in our quarterly report on Form 10-Q for the quarter ended March 31, 2023, as well as any cautionary language in this report, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. The occurrence of the events described in these risk factors and elsewhere in this report could have a material adverse effect on our business, results of operations and financial position. Any forward-looking statement made by us in this report speaks only as of the date of this report. Factors or events that could cause our actual results to differ from our forward-looking statements may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are advised to consult any additional disclosures that we may make directly to you or through reports that we have filed or in the future may file with the U.S. Securities and Exchange Commission (the “SEC”), including annual reports on Form 10-K, registration statements on Form N-2, quarterly reports on Form 10-Q and current reports on Form 8-K. The safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which preclude civil liability for certain forward-looking statements, do not apply to the forward-looking statements in this quarterly report because we are an investment company. The following factors are among those that may cause actual results to differ materially from our forward-looking statements:
3
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Statements of Financial Condition
(in thousands, except unit and per unit amounts)
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June 30, 2023 (Unaudited) |
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December 31, 2022 |
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Assets |
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Investments, at fair value |
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Non-controlled/non-affiliated investments (cost of $ |
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$ |
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$ |
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Non-controlled affiliated investments (cost of $ |
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Total investments, at fair value (cost of $ |
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Investments in affiliated money market fund (cost of $ |
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Cash |
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Interest and dividends receivable |
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Deferred financing costs |
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Other assets |
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Total assets |
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$ |
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$ |
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Liabilities |
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Debt |
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$ |
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$ |
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Interest and other debt expenses payable |
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Management fees payable |
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Incentive fees payable |
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Distribution payable |
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— |
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Accrued expenses and other liabilities |
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Total liabilities |
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$ |
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$ |
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(Note 7) |
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Members’ capital |
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Preferred units ( |
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$ |
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$ |
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Common units ( |
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Distributable earnings (loss) |
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( |
) |
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( |
) |
Total members’ capital |
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$ |
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$ |
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Total liabilities and members’ capital |
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$ |
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$ |
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Net asset value per unit |
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$ |
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$ |
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The accompanying notes are part of these unaudited consolidated financial statements.
4
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Statements of Operations
(in thousands, except unit and per unit amounts)
(Unaudited)
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2023 |
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June 30, 2022 |
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June 30, 2023 |
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June 30, 2022 |
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Investment income: |
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From non-controlled/non-affiliated investments: |
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Interest income |
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$ |
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$ |
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$ |
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$ |
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Payment-in-kind income |
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Other income |
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From non-controlled affiliated investments: |
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Dividend income |
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— |
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— |
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Interest income |
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— |
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— |
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Other income |
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— |
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— |
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Total investment income |
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$ |
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$ |
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$ |
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$ |
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Expenses: |
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Interest and other debt expenses |
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$ |
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$ |
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$ |
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$ |
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Management fees |
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Incentive fees |
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Professional fees |
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Directors’ fees |
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Other general and administrative expenses |
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Total expenses |
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$ |
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$ |
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$ |
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$ |
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Net investment income |
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$ |
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$ |
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$ |
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$ |
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Net realized and unrealized gains (losses): |
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Net realized gain (loss) from: |
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Non-controlled/non-affiliated investments |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
$ |
( |
) |
Foreign currency transactions |
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( |
) |
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( |
) |
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Net change in unrealized appreciation (depreciation) from: |
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Non-controlled/non-affiliated investments |
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( |
) |
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( |
) |
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Non-controlled affiliated investments |
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— |
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— |
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Foreign currency translations |
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( |
) |
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( |
) |
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Net realized and unrealized gains (losses) |
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$ |
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$ |
( |
) |
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$ |
( |
) |
$ |
( |
) |
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(Provision) benefit for taxes on unrealized appreciation/depreciation on investments |
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( |
) |
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( |
) |
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( |
) |
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Net increase in members’ capital from operations |
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$ |
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$ |
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$ |
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$ |
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Weighted average units outstanding |
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Net investment income per unit (basic and diluted) |
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$ |
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$ |
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$ |
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$ |
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Earnings per unit (basic and diluted) |
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$ |
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$ |
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$ |
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$ |
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The accompanying notes are part of these unaudited consolidated financial statements.
5
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Statements of Changes in Members’ Capital
(in thousands, except unit and per unit amounts)
(Unaudited)
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2023 |
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June 30, 2022 |
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June 30, 2023 |
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June 30, 2022 |
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Members’ capital at beginning of period |
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$ |
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$ |
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$ |
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$ |
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Increase in members’ capital from operations: |
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Net investment income |
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$ |
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$ |
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$ |
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$ |
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Net realized gain (loss) |
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( |
) |
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( |
) |
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( |
) |
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( |
) |
Net change in unrealized appreciation (depreciation) |
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( |
) |
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( |
) |
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(Provision) benefit for unrealized appreciation/depreciation on investments |
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( |
) |
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( |
) |
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( |
) |
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Net increase in members’ capital from operations |
|
$ |
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$ |
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$ |
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$ |
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Distributions to unitholders from: |
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Distributable earnings |
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$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
Total distributions to unitholders |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
Capital transactions: |
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Issuance of units |
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$ |
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$ |
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$ |
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$ |
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Net increase in members’ capital from capital transactions |
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$ |
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$ |
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$ |
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$ |
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Total increase in members’ capital |
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$ |
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$ |
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$ |
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$ |
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Members’ capital at end of period |
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$ |
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$ |
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$ |
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$ |
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Distributions per unit |
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$ |
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$ |
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$ |
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$ |
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The accompanying notes are part of these unaudited consolidated financial statements.
6
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Statements of Cash Flows
(in thousands, except unit and per unit amounts)
(Unaudited)
|
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For the Six Months Ended |
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June 30, 2023 |
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June 30, 2022 |
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Cash flows from operating activities: |
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Net increase in members’ capital from operations: |
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$ |
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$ |
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Adjustments to reconcile net increase (decrease) in members’ capital from operations to net cash provided by (used for) operating activities: |
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Purchases of investments |
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( |
) |
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( |
) |
Payment-in-kind interest capitalized |
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( |
) |
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( |
) |
Investments in affiliated money market fund, net |
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( |
) |
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( |
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Proceeds from sales of investments and principal repayments |
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Net realized (gain) loss |
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Net change in unrealized (appreciation) depreciation on investments |
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( |
) |
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Net change in unrealized (appreciation) depreciation on foreign currency transactions |
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( |
) |
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Amortization of premium and accretion of discount, net |
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( |
) |
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( |
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Amortization of deferred financing costs |
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Change in operating assets and liabilities: |
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(Increase) decrease in receivable for investments sold |
|
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— |
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( |
) |
(Increase) decrease in receivable for common units sold |
|
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— |
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( |
) |
(Increase) decrease in interest and dividends receivable |
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( |
) |
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(Increase) decrease in other assets |
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( |
) |
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Increase (decrease) in interest and other debt expenses payable |
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Increase (decrease) in management fees payable |
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Increase (decrease) in incentive fees payable |
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Increase (decrease) in payable for investments purchased |
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— |
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Increase (decrease) in accrued expenses and other liabilities |
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( |
) |
|
Net cash provided by (used for) operating activities |
|
$ |
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$ |
( |
) |
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Cash flows from financing activities: |
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Proceeds from issuance of common units |
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$ |
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$ |
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||
Distributions paid |
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|
( |
) |
|
|
( |
) |
Financing costs paid |
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|
( |
) |
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( |
) |
Borrowings on debt |
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Repayments of debt |
|
|
( |
) |
|
|
( |
) |
Net cash provided by (used for) financing activities |
|
$ |
( |
) |
|
$ |
|
|
Net increase (decrease) in cash |
|
$ |
( |
) |
|
$ |
|
|
Effect of foreign exchange rate changes on cash and cash equivalents |
|
|
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|
( |
) |
|
Cash, beginning of period |
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Cash, end of period |
|
$ |
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$ |
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||
Supplemental and non-cash activities |
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Interest expense paid |
|
$ |
|
|
$ |
|
||
Exchange of investments |
|
$ |
|
|
$ |
— |
|
The accompanying notes are part of these unaudited consolidated financial statements.
7
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Interest |
Reference Rate and |
Maturity |
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Par/Shares(3) |
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Cost |
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Fair |
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Footnotes |
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1st Lien/Senior Secured Debt - |
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1272775 B.C. LTD. (dba Everest Clinical Research) |
Professional Services |
S + |
$ |
|
|
$ |
|
$ |
|
(4) (5) (6) (7) |
|||||
1272775 B.C. LTD. (dba Everest Clinical Research) |
Professional Services |
P + |
|
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|
(4) (5) (6) (7) (8) |
|||||
1272775 B.C. LTD. (dba Everest Clinical Research) |
Professional Services |
CDN P + |
CAD |
|
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|
(4) (5) (6) (7) |
|||||
3SI Security Systems, Inc. |
Commercial Services & Supplies |
S + |
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(6) (7) |
|||||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
S + |
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(5) (6) (7) |
|||||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
S + |
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(5) (6) (7) |
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Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
S + |
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(5) (6) (7) (8) |
|||||
Acquia, Inc. |
Software |
L + |
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(5) (6) (7) |
|||||
Acquia, Inc. |
Software |
L + |
|
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(5) (6) (7) (8) |
|||||
Admiral Buyer, Inc. (dba Fidelity Payment Services) |
Diversified Financial Services |
S + |
|
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(5) (6) (7) |
|||||
Admiral Buyer, Inc. (dba Fidelity Payment Services) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Admiral Buyer, Inc. (dba Fidelity Payment Services) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Apptio, Inc. |
IT Services |
S + |
|
|
|
|
|
|
|
(6) (7) |
|||||
Apptio, Inc. |
IT Services |
S + |
|
|
|
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|
|
(6) (7) (8) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
S + |
|
|
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|
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|
|
(5) (6) (7) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
S + |
|
|
|
|
|
|
|
(5) (7) (8) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Argos Health Holdings, Inc |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Aria Systems, Inc. |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Assembly Intermediate LLC |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Assembly Intermediate LLC |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Assembly Intermediate LLC |
Diversified Consumer Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Bigchange Group Limited |
Software |
SN + |
GBP |
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
Bigchange Group Limited |
Software |
SN + |
GBP |
|
|
|
|
|
|
(4) (5) (6) (7) (8) |
|||||
Bigchange Group Limited |
Software |
|
SN + |
GBP |
|
|
|
( |
) |
|
( |
) |
(4) (5) (6) (7) (8) |
||
Broadway Technology, LLC |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Broadway Technology, LLC |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
BSI3 Menu Buyer, Inc (dba Kydia) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
BSI3 Menu Buyer, Inc (dba Kydia) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Bullhorn, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Bullhorn, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Bullhorn, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Bullhorn, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Bullhorn, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Bullhorn, Inc. |
Professional Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Businessolver.com, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Businessolver.com, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Capitol Imaging Acquisition Corp. |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Capitol Imaging Acquisition Corp. |
Health Care Providers & Services |
|
P + |
|
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
The accompanying notes are part of these unaudited consolidated financial statements.
8
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023 (continued)
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Interest |
Reference Rate |
Maturity |
|
Par/Shares(3) |
|
Cost |
|
Fair |
|
Footnotes |
|||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
$ |
|
|
$ |
|
$ |
|
(5) (6) (7) |
|||||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Checkmate Finance Merger Sub, LLC |
Entertainment |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Checkmate Finance Merger Sub, LLC |
Entertainment |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Chronicle Bidco Inc. (dba Lexitas) |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Chronicle Bidco Inc. (dba Lexitas) |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
CivicPlus LLC |
Software |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CivicPlus LLC |
Software |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CivicPlus LLC |
Software |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CivicPlus LLC |
Software |
L + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Clearcourse Partnership Acquireco Finance Limited |
IT Services |
SN + |
GBP |
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
Clearcourse Partnership Acquireco Finance Limited |
IT Services |
SN + |
GBP |
|
|
|
|
|
|
(4) (5) (6) (7) (8) |
|||||
CloudBees, Inc. |
Software |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CloudBees, Inc. |
Software |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Coding Solutions Acquisition, Inc. |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Coding Solutions Acquisition, Inc. |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Coding Solutions Acquisition, Inc. |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
CORA Health Holdings Corp |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CORA Health Holdings Corp |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CorePower Yoga LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
CorePower Yoga LLC |
Diversified Consumer Services |
|
L + |
|
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
DECA Dental Holdings LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
DECA Dental Holdings LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
DECA Dental Holdings LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Diligent Corporation |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Diligent Corporation |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
The accompanying notes are part of these unaudited consolidated financial statements.
9
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023 (continued)
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Interest |
Reference Rate |
Maturity |
Par/Shares(3) |
|
Cost |
|
Fair |
|
Footnotes |
|||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
$ |
|
$ |
|
$ |
|
(5) (6) (7) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
ESO Solutions, Inc |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
ESO Solutions, Inc |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Everest Clinical Research Corporation |
Professional Services |
S + |
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
Experity, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Experity, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
|
S + |
|
|
|
— |
|
|
— |
|
(5) (8) |
||
Fullsteam Operations LLC |
Diversified Financial Services |
|
S + |
|
|
|
— |
|
|
— |
|
(5) (8) |
||
Fullsteam Operations LLC |
Diversified Financial Services |
|
S + |
|
|
|
— |
|
|
— |
|
(5) (8) |
||
Fullsteam Operations LLC |
Diversified Financial Services |
|
S + |
|
|
|
— |
|
|
— |
|
(5) (8) |
||
Gainsight, Inc. |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Gainsight, Inc. |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
Software |
S + |
|
|
|
|
|
|
(5) (6) |
|||||
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
Software |
S + |
|
|
|
|
|
|
(5) (6) |
|||||
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
Software |
S + |
|
|
|
|
|
|
(5) (8) |
|||||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
GS AcquisitionCo, Inc. (dba Insightsoftware) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
(5) (6) |
|||||
GS AcquisitionCo, Inc. (dba Insightsoftware) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
(5) (6) (8) |
|||||
HealthEdge Software, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
HealthEdge Software, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
HealthEdge Software, Inc. |
Health Care Technology |
|
P + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
HealthEdge Software, Inc. |
Health Care Technology |
|
L + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Honor HN Buyer, Inc |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
The accompanying notes are part of these unaudited consolidated financial statements.
10
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023 (continued)
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Interest |
Reference Rate |
Maturity |
|
Par/Shares(3) |
|
Cost |
|
Fair |
|
Footnotes |
|||
Honor HN Buyer, Inc |
Health Care Providers & Services |
S + |
$ |
|
|
$ |
|
$ |
|
(5) (7) |
|||||
Honor HN Buyer, Inc |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (7) (8) |
|||||
Honor HN Buyer, Inc |
Health Care Providers & Services |
P + |
|
|
|
|
|
|
|
(5) (7) (8) |
|||||
HowlCO LLC (dba Lone Wolf) |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
HowlCO LLC (dba Lone Wolf) |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
HowlCO LLC (dba Lone Wolf) |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) |
Hotels, Restaurants & Leisure |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) |
Hotels, Restaurants & Leisure |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) |
Hotels, Restaurants & Leisure |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
HumanState Limited (dba PayProp) |
Diversified Consumer Services |
SN + |
GBP |
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
HumanState Limited (dba PayProp) |
Diversified Consumer Services |
|
SN + |
GBP |
|
|
|
— |
|
|
( |
) |
(4) (5) (6) (7) (8) |
||
HumanState Limited (dba PayProp) |
Diversified Consumer Services |
|
SN + |
GBP |
|
|
|
|
|
( |
) |
(4) (5) (6) (7) (8) |
|||
iCIMS, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
iCIMS, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
iCIMS, Inc. |
Professional Services |
|
S + |
|
|
|
|
— |
|
|
( |
) |
(5) (6) (7) (8) |
||
Intelligent Medical Objects, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Intelligent Medical Objects, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Intelligent Medical Objects, Inc. |
Health Care Technology |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Internet Truckstop Group, LLC (dba Truckstop) |
Transportation Infrastructure |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Kaseya Inc. |
IT Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Kaseya Inc. |
IT Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Kaseya Inc. |
IT Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
LS Clinical Services Holdings, Inc (dba CATO) |
Pharmaceuticals |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
LS Clinical Services Holdings, Inc (dba CATO) |
Pharmaceuticals |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
MedeAnalytics, Inc. |
Health Care Technology |
|
|
|
|
|
|
|
|
(5) (6) (7) (9) (10) |
|||||
MerchantWise Solutions, LLC (dba HungerRush) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
MerchantWise Solutions, LLC (dba HungerRush) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
MerchantWise Solutions, LLC (dba HungerRush) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Millstone Medical Outsourcing, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
Millstone Medical Outsourcing, LLC |
Health Care Providers & Services |
P + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
MRI Software LLC |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
|
(6) |
|||||
MRI Software LLC |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
|
(6) |
|||||
MRI Software LLC |
Real Estate Mgmt. & Development |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(6) (8) |
||
MRI Software LLC |
Real Estate Mgmt. & Development |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(5) (8) |
||
NFM & J, L.P. (dba the Facilities Group) |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
NFM & J, L.P. (dba the Facilities Group) |
Professional Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
NFM & J, L.P. (dba the Facilities Group) |
Professional Services |
|
P + |
|
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
One GI LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
One GI LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
|||||
One GI LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(5) (6) (7) |
The accompanying notes are part of these unaudited consolidated financial statements.
11
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023 (continued)
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Interest |
Reference Rate |
Maturity |
Par/Shares(3) |
|
Cost |
|
Fair |
|
Footnotes |
|||
One GI LLC |
Health Care Providers & Services |
S + |
$ |
|
$ |
|
$ |
|
(5) (6) (7) (8) |
|||||
One GI LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Picture Head Midco LLC |
Entertainment |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Pioneer Buyer I, LLC |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Pioneer Buyer I, LLC |
Software |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Pluralsight, Inc |
Professional Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Pluralsight, Inc |
Professional Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Premier Care Dental Management, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Premier Care Dental Management, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Premier Care Dental Management, LLC |
Health Care Providers & Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Project Eagle Holdings, LLC (dba Exostar) |
Aerospace & Defense |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Project Eagle Holdings, LLC (dba Exostar) |
Aerospace & Defense |
|
L + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Prophix Software Inc. (dba Pound Bidco) |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
Prophix Software Inc. (dba Pound Bidco) |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
Prophix Software Inc. (dba Pound Bidco) |
Diversified Financial Services |
|
L + |
|
|
|
( |
) |
|
( |
) |
(4) (5) (7) (8) |
||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
S + |
|
|
|
|
|
|
(5) (6) |
|||||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
S + |
|
|
|
|
|
|
(5) (6) |
|||||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
S + |
|
|
|
|
|
|
(5) (6) |
|||||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
S + |
|
|
|
|
|
|
(5) (6) |
|||||
Purfoods, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Purfoods, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Riverpoint Medical, LLC |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Riverpoint Medical, LLC |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Riverpoint Medical, LLC |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Rodeo Buyer Company (dba Absorb Software) |
Professional Services |
S + |
|
|
|
|
|
|
(4) (5) (6) (7) |
|||||
Rodeo Buyer Company (dba Absorb Software) |
Professional Services |
S + |
|
|
|
|
|
|
(4) (5) (7) (8) |
|||||
Rubrik, Inc. |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Rubrik, Inc. |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (10) |
|||||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (7) (8) (10) |
The accompanying notes are part of these unaudited consolidated financial statements.
12
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023 (continued)
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Interest |
Reference Rate |
Maturity |
Par/Shares(3) |
|
Cost |
|
Fair |
|
Footnotes |
|||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
|
S + |
$ |
|
$ |
( |
) |
$ |
( |
) |
(5) (7) (8) (10) |
||
SpendMend, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
SpendMend, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
SpendMend, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
StarCompliance Intermediate, LLC |
Diversified Financial Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
StarCompliance Intermediate, LLC |
Diversified Financial Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
StarCompliance Intermediate, LLC |
Diversified Financial Services |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
S + |
|
|
|
|
|
|
(6) (7) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Superman Holdings, LLC (dba Foundation Software) |
Construction & Engineering |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Superman Holdings, LLC (dba Foundation Software) |
Construction & Engineering |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Superman Holdings, LLC (dba Foundation Software) |
Construction & Engineering |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Superman Holdings, LLC (dba Foundation Software) |
Construction & Engineering |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Sweep Purchaser LLC |
Commercial Services & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Syntellis Performance Solutions, LLC (dba Axiom) |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Thrasio, LLC |
Internet & Direct Marketing Retail |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Total Vision LLC |
Health Care Providers & Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
The accompanying notes are part of these unaudited consolidated financial statements.
13
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023 (continued)
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Interest |
Reference Rate |
Maturity |
Par/Shares(3) |
|
Cost |
|
Fair |
|
Footnotes |
|||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
$ |
|
$ |
|
$ |
|
(5) (6) (7) (8) |
|||||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Viant Medical Holdings, Inc. |
Health Care Equipment & Supplies |
L + |
|
|
|
|
|
|
(5) (6) |
|||||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
VRC Companies, LLC (dba Vital Records Control) |
Commercial Services & Supplies |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
VRC Companies, LLC (dba Vital Records Control) |
Commercial Services & Supplies |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
WebPT, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
WebPT, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
WebPT, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
WebPT, Inc. |
Health Care Technology |
P + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Wellness AcquisitionCo, Inc. (dba SPINS) |
IT Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Wellness AcquisitionCo, Inc. (dba SPINS) |
IT Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (7) (8) |
||
Wellness AcquisitionCo, Inc. (dba SPINS) |
IT Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
Whitewater Holding Company LLC |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
WorkForce Software, LLC |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
WorkForce Software, LLC |
Software |
L + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
WorkForce Software, LLC |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
WorkForce Software, LLC |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
WorkForce Software, LLC |
Software |
|
S + |
|
|
|
( |
) |
|
( |
) |
(5) (6) (7) (8) |
||
WSO2, Inc. |
IT Services |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Zarya Intermediate, LLC (dba iOFFICE) |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Zarya Intermediate, LLC (dba iOFFICE) |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
(5) (7) (8) |
|||||
Zodiac Intermediate, LLC (dba Zipari) |
Health Care Technology |
L + |
|
|
|
|
|
|
(5) (6) (7) |
|||||
Zodiac Intermediate, LLC (dba Zipari) |
Health Care Technology |
L + |
|
|
|
|
|
|
(5) (7) |
|||||
Total 1st Lien/Senior Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
1st Lien/Last-Out Unitranche (11) - |
|
|
|
|
|
|
|
|
|
|
|
|||
EDB Parent, LLC (dba Enterprise DB) |
Software |
S + |
$ |
|
$ |
|
$ |
|
(5) (6) (7) |
|||||
EDB Parent, LLC (dba Enterprise DB) |
Software |
S + |
|
|
|
|
|
|
(5) (6) (7) (8) |
|||||
Total 1st Lien/Last-Out Unitranche |
|
|
|
|
|
|
|
|
|
|
|
|||
2nd Lien/Senior Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
Zep Inc. |
Chemicals |
L + |
$ |
|
$ |
|
$ |
|
(6) |
|||||
Total 2nd Lien/Senior Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
Unsecured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
CivicPlus LLC |
Software |
S + |
$ |
|
$ |
|
$ |
|
(5) (6) (7) |
|||||
Total Unsecured Debt |
|
|
|
|
|
|
|
|
|
|
|
The accompanying notes are part of these unaudited consolidated financial statements.
14
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of June 30, 2023 (continued)
(in thousands, except unit and per unit amounts)
(Unaudited)
Investment (1) |
Industry |
Initial |
|
Par/Shares(3) |
|
Cost |
|
Fair |
|
Footnotes |
|||
Preferred Stock - |
|
|
|
|
|
|
|
|
|
|
|||
Broadway Parent, LLC |
Diversified Financial Services |
|
|
|
$ |
|
$ |
|
(5) (7) (13) |
||||
CloudBees, Inc. |
Software |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
Diligent Corporation |
Professional Services |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
Foundation Software |
Construction & Engineering |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
MedeAnalytics, Inc. |
Health Care Technology |
|
|
— |
|
|
— |
|
|
— |
|
(5) (7) (10) (13) (14) |
|
WSO2, Inc. |
IT Services |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
Total Preferred Stock |
|
|
|
|
|
|
|
|
|
|
|||
Common Stock - |
|
|
|
|
|
|
|
|
|
|
|||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
|
|
|
$ |
|
$ |
|
(5) (7) (13) |
||||
Exostar LLC - Class B |
Aerospace & Defense |
|
|
|
|
— |
|
|
|
(5) (7) (13) |
|||
Foundation Software - Class B |
Construction & Engineering |
|
|
|
|
— |
|
|
|
(5) (7) (13) |
|||
MedeAnalytics, Inc. |
Health Care Technology |
|
|
|
|
— |
|
|
— |
|
(7) (10) (13) |
||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
|
|
|
|
|
|
|
(5) (7) (10) (13) |
||||
Total Vision LLC |
Health Care Providers & Services |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
|
|
|
|
|
|
|
(5) (7) (13) |
||||
Total Common Stock |
|
|
|
|
|
|
|
|
|
|
|||
Warrants - |
|
|
|
|
|
|
|
|
|
|
|||
CloudBees, Inc. |
Software |
|
|
|
$ |
|
$ |
|
(5) (7) (13) |
||||
Total Warrants |
|
|
|
|
|
|
|
|
|
|
|||
Total Investments - |
|
|
|
|
|
$ |
|
$ |
|
|
|||
Investments in Affiliated Money Market Fund - |
|
|
|
|
|
|
|
|
|
|
|||
Goldman Sachs Financial Square Government Fund - Institutional Shares |
|
|
|
|
|
$ |
|
$ |
|
(6) (15) (16) |
|||
Total Investments in Affiliated Money Market Fund |
|
|
|
|
|
|
|
|
|
|
|||
Total Investments and Investments in Affiliated Money Market Fund - |
|
|
|
|
|
$ |
|
$ |
|
|
The accompanying notes are part of these unaudited consolidated financial statements.
15
PIK – Payment-In-Kind
The accompanying notes are part of these unaudited consolidated financial statements.
16
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Interest |
Reference Rate and |
Maturity |
|
Par/Shares |
|
Cost |
|
Fair |
|
Footnotes |
|||
1st Lien/Senior Secured Debt - |
|
|
|
|
|
|
|
|
|
|
|
|
|||
1272775 B.C. LTD. (dba Everest Clinical Research) |
Professional Services |
S + |
$ |
|
|
$ |
|
$ |
|
(1) (2) (3) (4) |
|||||
1272775 B.C. LTD. (dba Everest Clinical Research) |
Professional Services |
P + |
|
|
|
|
|
|
|
(1) (2) (3) (4) (5) |
|||||
1272775 B.C. LTD. (dba Everest Clinical Research) |
Professional Services |
CDN P + |
CAD |
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
3SI Security Systems, Inc. |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
|
(3) (4) |
|||||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Acquia, Inc. |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Acquia, Inc. |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Admiral Buyer, Inc. (dba Fidelity Payment Services) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Admiral Buyer, Inc. (dba Fidelity Payment Services) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Admiral Buyer, Inc. (dba Fidelity Payment Services) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Apptio, Inc. |
IT Services |
L + |
|
|
|
|
|
|
|
(3) (4) |
|||||
Apptio, Inc. |
IT Services |
L + |
|
|
|
|
|
|
|
(3) (4) (5) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
S + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
AQ Helios Buyer, Inc. (dba SurePoint) |
Software |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Argos Health Holdings, Inc |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Aria Systems, Inc. |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Assembly Intermediate LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Assembly Intermediate LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Assembly Intermediate LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Bigchange Group Limited |
Software |
SN + |
GBP |
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
Bigchange Group Limited |
Software |
SN + |
GBP |
|
|
|
|
|
|
(1) (2) (3) (4) (5) |
|||||
Bigchange Group Limited |
Software |
|
SN + |
GBP |
|
|
|
( |
) |
|
( |
) |
(1) (2) (3) (4) (5) |
||
Broadway Technology, LLC |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Broadway Technology, LLC |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
BSI3 Menu Buyer, Inc (dba Kydia) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
BSI3 Menu Buyer, Inc (dba Kydia) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Bullhorn, Inc. |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Bullhorn, Inc. |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Bullhorn, Inc. |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Bullhorn, Inc. |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Bullhorn, Inc. |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Bullhorn, Inc. |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Businessolver.com, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Businessolver.com, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Capitol Imaging Acquisition Corp. |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Capitol Imaging Acquisition Corp. |
Health Care Providers & Services |
P + |
|
|
|
|
|
|
|
(2) (4) (5) |
The accompanying notes are part of these unaudited consolidated financial statements.
17
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022 (continued)
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Interest |
Reference Rate |
Maturity |
|
Par/Shares |
|
Cost |
|
Fair |
|
Footnotes |
|||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
$ |
|
|
$ |
|
$ |
|
(2) (3) (4) |
|||||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CFS Management, LLC (dba Center for Sight Management) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Checkmate Finance Merger Sub, LLC |
Entertainment |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Checkmate Finance Merger Sub, LLC |
Entertainment |
|
L + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Chronicle Bidco Inc. (dba Lexitas) |
Professional Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Chronicle Bidco Inc. (dba Lexitas) |
Professional Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
CivicPlus LLC |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CivicPlus LLC |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CivicPlus LLC |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CivicPlus LLC |
Software |
|
L + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Clearcourse Partnership Acquireco Finance Limited |
IT Services |
SN + |
GBP |
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
Clearcourse Partnership Acquireco Finance Limited |
IT Services |
SN + |
GBP |
|
|
|
|
|
|
(1) (2) (3) (4) (5) |
|||||
CloudBees, Inc. |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CloudBees, Inc. |
Software |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Coding Solutions Acquisition, Inc. |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Coding Solutions Acquisition, Inc. |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Coding Solutions Acquisition, Inc. |
Health Care Providers & Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
CORA Health Holdings Corp |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CORA Health Holdings Corp |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
( |
) |
(2) (3) (4) (5) |
||||
CorePower Yoga LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
CorePower Yoga LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
DECA Dental Holdings LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
DECA Dental Holdings LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
DECA Dental Holdings LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Diligent Corporation |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Elemica Parent, Inc. |
Chemicals |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Elemica Parent, Inc. |
Chemicals |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
The accompanying notes are part of these unaudited consolidated financial statements.
18
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022 (continued)
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Interest |
Reference Rate |
Maturity |
Par/Shares |
|
Cost |
|
Fair |
|
Footnotes |
|||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
$ |
|
$ |
|
$ |
|
(2) (3) (4) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Eptam Plastics, Ltd. |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
ESO Solutions, Inc |
Health Care Technology |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
ESO Solutions, Inc |
Health Care Technology |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Everest Clinical Research Corporation |
Professional Services |
S + |
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
Experity, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Experity, Inc. |
Health Care Technology |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Fullsteam Operations LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Fullsteam Operations LLC |
Diversified Financial Services |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (4) (5) |
||
Gainsight, Inc. |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Gainsight, Inc. |
Software |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
GHA Buyer Inc. (dba Cedar Gate) |
Health Care Technology |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (4) (5) |
||
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
Software |
L + |
|
|
|
|
|
|
(2) (3) |
|||||
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
Software |
L + |
|
|
|
|
|
|
(2) (3) |
|||||
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
Software |
L + |
|
|
|
|
|
|
(2) (5) |
|||||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
GS AcquisitionCo, Inc. (dba Insightsoftware) |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(2) (3) |
|||||
GS AcquisitionCo, Inc. (dba Insightsoftware) |
Diversified Financial Services |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (5) |
||
HealthEdge Software, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
HealthEdge Software, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
HealthEdge Software, Inc. |
Health Care Technology |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
HealthEdge Software, Inc. |
Health Care Technology |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Helios Buyer, Inc. (dba Heartland) |
Diversified Consumer Services |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (4) (5) |
||
Honor HN Buyer, Inc |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Honor HN Buyer, Inc |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Honor HN Buyer, Inc |
Health Care Providers & Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Honor HN Buyer, Inc |
Health Care Providers & Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (4) (5) |
||
HowlCO LLC (dba Lone Wolf) |
Real Estate Mgmt. & Development |
L + |
|
|
|
|
|
|
(1) (2) (3) (4) |
The accompanying notes are part of these unaudited consolidated financial statements.
19
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022 (continued)
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Interest |
Reference Rate |
Maturity |
|
Par/Shares |
|
Cost |
|
Fair |
|
Footnotes |
|||
HowlCO LLC (dba Lone Wolf) |
Real Estate Mgmt. & Development |
L + |
$ |
|
|
$ |
|
$ |
|
(1) (2) (3) (4) |
|||||
HowlCO LLC (dba Lone Wolf) |
Real Estate Mgmt. & Development |
L + |
|
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) |
Hotels, Restaurants & Leisure |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) |
Hotels, Restaurants & Leisure |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) |
Hotels, Restaurants & Leisure |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
HumanState Limited (dba PayProp) |
Diversified Consumer Services |
SN + |
GBP |
|
|
|
|
|
|
(1) (2) (3) |
|||||
HumanState Limited (dba PayProp) |
Diversified Consumer Services |
|
SN + |
GBP |
|
|
|
( |
) |
|
( |
) |
(1) (2) (3) (5) |
||
HumanState Limited (dba PayProp) |
Diversified Consumer Services |
|
SN + |
GBP |
|
|
|
( |
) |
|
( |
) |
(1) (2) (3) (5) |
||
iCIMS, Inc. |
Professional Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
iCIMS, Inc. |
Professional Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
iCIMS, Inc. |
Professional Services |
|
S + |
|
|
|
|
— |
|
|
( |
) |
(2) (3) (4) (5) |
||
Intelligent Medical Objects, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Intelligent Medical Objects, Inc. |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Intelligent Medical Objects, Inc. |
Health Care Technology |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Internet Truckstop Group, LLC (dba Truckstop) |
Transportation Infrastructure |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Kaseya Inc. |
IT Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Kaseya Inc. |
IT Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Kaseya Inc. |
IT Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
LS Clinical Services Holdings, Inc (dba CATO) |
Pharmaceuticals |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
LS Clinical Services Holdings, Inc (dba CATO) |
Pharmaceuticals |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
MedeAnalytics, Inc. |
Health Care Technology |
|
S + |
|
|
|
|
|
|
|
(2) (3) (4) (6) |
||||
MerchantWise Solutions, LLC (dba HungerRush) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
MerchantWise Solutions, LLC (dba HungerRush) |
Diversified Financial Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
MerchantWise Solutions, LLC (dba HungerRush) |
Diversified Financial Services |
|
S + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Millstone Medical Outsourcing, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
Millstone Medical Outsourcing, LLC |
Health Care Providers & Services |
P + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
MRI Software LLC |
Real Estate Mgmt. & Development |
L + |
|
|
|
|
|
|
|
(3) |
|||||
MRI Software LLC |
Real Estate Mgmt. & Development |
L + |
|
|
|
|
|
|
|
(3) |
|||||
MRI Software LLC |
Real Estate Mgmt. & Development |
|
L + |
|
|
|
|
( |
) |
|
( |
) |
(3) (5) |
||
MRI Software LLC |
Real Estate Mgmt. & Development |
|
L + |
|
|
|
|
( |
) |
|
( |
) |
(2) (5) |
||
NFM & J, L.P. (dba the Facilities Group) |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
NFM & J, L.P. (dba the Facilities Group) |
Professional Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
NFM & J, L.P. (dba the Facilities Group) |
Professional Services |
|
L + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
One GI LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
One GI LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
One GI LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
One GI LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
One GI LLC |
Health Care Providers & Services |
|
L + |
|
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
|||||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
S + |
|
|
|
|
|
|
|
(2) (3) (4) |
The accompanying notes are part of these unaudited consolidated financial statements.
20
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022 (continued)
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Interest |
Reference Rate |
Maturity |
Par/Shares |
|
Cost |
|
Fair |
|
Footnotes |
|||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
S + |
$ |
|
$ |
|
$ |
|
(2) (3) (4) (5) |
|||||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
PDDS Holdco, Inc. (dba Planet DDS) |
Health Care Technology |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Picture Head Midco LLC |
Entertainment |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Pioneer Buyer I, LLC |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Pioneer Buyer I, LLC |
Software |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Pluralsight, Inc |
Professional Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Pluralsight, Inc |
Professional Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Premier Care Dental Management, LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Premier Care Dental Management, LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Premier Care Dental Management, LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Premier Imaging, LLC (dba Lucid Health) |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Project Eagle Holdings, LLC (dba Exostar) |
Aerospace & Defense |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Project Eagle Holdings, LLC (dba Exostar) |
Aerospace & Defense |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Prophix Software Inc. (dba Pound Bidco) |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
Prophix Software Inc. (dba Pound Bidco) |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
Prophix Software Inc. (dba Pound Bidco) |
Diversified Financial Services |
|
L + |
|
|
|
( |
) |
|
( |
) |
(1) (2) (4) (5) |
||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
L + |
|
|
|
|
|
|
(2) (3) |
|||||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
L + |
|
|
|
|
|
|
(2) (3) |
|||||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
L + |
|
|
|
|
|
|
(2) (3) |
|||||
PT Intermediate Holdings III, LLC (dba Parts Town) |
Trading Companies & Distributors |
L + |
|
|
|
|
|
|
(2) (3) |
|||||
Purfoods, LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Purfoods, LLC |
Health Care Providers & Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Qualawash Holdings, LLC |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Qualawash Holdings, LLC |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Qualawash Holdings, LLC |
Commercial Services & Supplies |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Riverpoint Medical, LLC |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Riverpoint Medical, LLC |
Health Care Equipment & Supplies |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Riverpoint Medical, LLC |
Health Care Equipment & Supplies |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Rodeo Buyer Company (dba Absorb Software) |
Professional Services |
L + |
|
|
|
|
|
|
(1) (2) (3) (4) |
|||||
Rodeo Buyer Company (dba Absorb Software) |
Professional Services |
L + |
|
|
|
|
|
|
(1) (2) (4) (5) |
|||||
Rubrik,Inc. |
Software |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Rubrik,Inc. |
Software |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
S + |
|
|
|
|
|
|
^ (2) (3) (4) |
|||||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
^ (2) (3) (4) (5) |
||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
^ (2) (3) (4) (5) |
||
SpendMend, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
The accompanying notes are part of these unaudited consolidated financial statements.
21
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022 (continued)
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Interest |
Reference Rate |
Maturity |
Par/ |
|
Cost |
|
Fair |
|
Footnotes |
|||
SpendMend, LLC |
Health Care Providers & Services |
S + |
$ |
|
$ |
|
$ |
|
(2) (3) (4) (5) |
|||||
SpendMend, LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
StarCompliance Intermediate, LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
StarCompliance Intermediate, LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
StarCompliance Intermediate, LLC |
Diversified Financial Services |
L + |
|
|
|
|
|
|
(2) (4) (5) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
S + |
|
|
|
|
|
|
(3) (4) |
|||||
Sundance Group Holdings, Inc. (dba NetDocuments) |
Software |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Sunstar Insurance Group, LLC |
Insurance |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Sunstar Insurance Group, LLC |
Insurance |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Superman Holdings, LLC (dba Foundation Software) |
Construction & Engineering |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Superman Holdings, LLC (dba Foundation Software) |
Construction & Engineering |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (4) (5) |
||
Sweep Purchaser LLC |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Sweep Purchaser LLC |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (4) (5) |
|||||
Syntellis Performance Solutions, LLC (dba Axiom) |
Health Care Technology |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Thrasio, LLC |
Internet & Direct Marketing Retail |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Thrasio, LLC |
Internet & Direct Marketing Retail |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Total Vision LLC |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Total Vision LLC |
Health Care Providers & Services |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
USN Opco LLC (dba Global Nephrology Solutions) |
Health Care Providers & Services |
S + |
|
|
|
|
|
|
(2) (4) (5) |
|||||
Viant Medical Holdings, Inc. |
Health Care Equipment & Supplies |
L + |
|
|
|
|
|
|
(2) (3) |
The accompanying notes are part of these unaudited consolidated financial statements.
22
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022 (continued)
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Interest |
Reference Rate |
Maturity |
Par/Shares |
|
Cost |
|
Fair |
|
Footnotes |
|||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
S + |
$ |
|
$ |
|
$ |
|
(2) (3) (4) |
|||||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
|
S + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
VRC Companies, LLC (dba Vital Records Control) |
Commercial Services & Supplies |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
VRC Companies, LLC (dba Vital Records Control) |
Commercial Services & Supplies |
|
P + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
WebPT, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
WebPT, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
WebPT, Inc. |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
WebPT, Inc. |
Health Care Technology |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Wellness AcquisitionCo, Inc. (dba SPINS) |
IT Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Wellness AcquisitionCo, Inc. (dba SPINS) |
IT Services |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (4) (5) |
||
Wellness AcquisitionCo, Inc. (dba SPINS) |
IT Services |
|
L + |
|
|
|
( |
) |
|
( |
) |
(2) (3) (4) (5) |
||
Whitewater Holding Company LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
WorkForce Software, LLC |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
WorkForce Software, LLC |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
WorkForce Software, LLC |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
WorkForce Software, LLC |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
WorkForce Software, LLC |
Software |
L + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
WSO2, Inc. |
IT Services |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Zarya Intermediate, LLC (dba iOFFICE) |
Real Estate Mgmt. & Development |
S + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Zarya Intermediate, LLC (dba iOFFICE) |
Real Estate Mgmt. & Development |
|
S + |
|
|
|
— |
|
|
( |
) |
(2) (3) (4) (5) |
||
Zodiac Intermediate, LLC (dba Zipari) |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (3) (4) |
|||||
Zodiac Intermediate, LLC (dba Zipari) |
Health Care Technology |
L + |
|
|
|
|
|
|
(2) (4) |
|||||
Total 1st Lien/Senior Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
1st Lien/Last-Out Unitranche (7) - |
|
|
|
|
|
|
|
|
|
|
|
|||
EDB Parent, LLC (dba Enterprise DB) |
Software |
S + |
$ |
|
$ |
|
$ |
|
(2) (3) (4) |
|||||
EDB Parent, LLC (dba Enterprise DB) |
Software |
S + |
|
|
|
|
|
|
(2) (3) (4) (5) |
|||||
Total 1st Lien/Last-Out Unitranche |
|
|
|
|
|
|
|
|
|
|
|
|||
2nd Lien/Senior Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
Zep Inc. |
Chemicals |
L + |
$ |
|
$ |
|
$ |
|
(3) |
|||||
Total 2nd Lien/Senior Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
Unsecured Debt |
|
|
|
|
|
|
|
|
|
|
|
|||
CivicPlus LLC |
Software |
S + |
$ |
|
$ |
|
$ |
|
(2) (3) (4) |
|||||
Total Unsecured Debt |
|
|
|
|
|
|
|
|
|
|
|
The accompanying notes are part of these unaudited consolidated financial statements.
23
Goldman Sachs Private Middle Market Credit II LLC
Consolidated Schedule of Investments as of December 31, 2022 (continued)
(in thousands, except unit and per unit amounts)
Investment # |
Industry |
Initial |
|
Par/Shares |
|
Cost |
|
Fair |
|
Footnotes |
|||
Preferred Stock - |
|
|
|
|
|
|
|
|
|
|
|||
Broadway Parent, LLC |
Diversified Financial Services |
|
|
|
$ |
|
$ |
|
(2) (4) (9) |
||||
CloudBees, Inc. |
Software |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
Diligent Corporation |
Professional Services |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
Foundation Software |
Construction & Engineering |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
Governmentjobs.com, Inc. (dba NeoGov) |
Software |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
MedeAnalytics, Inc. |
Health Care Technology |
|
|
|
|
|
|
— |
|
(2) (4) (9) |
|||
WSO2, Inc. |
IT Services |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
Total Preferred Stock |
|
|
|
|
|
|
|
|
|
|
|||
Common Stock - |
|
|
|
|
|
|
|
|
|
|
|||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
Software |
|
|
|
$ |
|
$ |
|
(2) (4) (9) |
||||
Exostar LLC - Class B |
Aerospace & Defense |
|
|
|
|
— |
|
|
|
(2) (4) (9) |
|||
Foundation Software - Class B |
Construction & Engineering |
|
|
|
|
— |
|
|
|
(2) (4) (9) |
|||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
Diversified Consumer Services |
|
|
|
|
|
|
|
^ (2) (4) (9) |
||||
Total Vision LLC |
Health Care Providers & Services |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
Volt Bidco, Inc. (dba Power Factors) |
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
Whitewater Holding Company LLC |
Diversified Consumer Services |
|
|
|
|
|
|
|
(2) (4) (9) |
||||
Total Common Stock |
|
|
|
|
|
|
|
|
|
|
|||
Warrants - |
|
|
|
|
|
|
|
|
|
|
|||
CloudBees, Inc. |
Software |
|
|
|
$ |
|
$ |
|
(2) (4) (9) |
||||
Total Warrants |
|
|
|
|
|
|
|
|
|
|
|||
Investments in Affiliated Money Market Fund - |
|
|
|
|
|
|
|
|
|
|
|||
Goldman Sachs Financial Square Government Fund - Institutional Shares |
|
|
|
|
|
$ |
|
$ |
|
^^^ (3) (10) |
|||
Total Investments in Affiliated Money Market Fund |
|
|
|
|
|
|
|
|
|
|
|||
Total Investments - |
|
|
|
|
|
$ |
|
$ |
|
|
(+)
(++)
#
^
^^^
PIK Payment-In-Kind
The accompanying notes are part of these unaudited consolidated financial statements.
24
Goldman Sachs Private Middle Market Credit II LLC
Notes to the Consolidated Financial Statements
(in thousands, except unit and per unit amounts)
(Unaudited)
1. ORGANIZATION
Goldman Sachs Private Middle Market Credit II LLC (the “Company”, which term refers to either Goldman Sachs Private Middle Market Credit II LLC or Goldman Sachs Private Middle Market Credit II LLC, together with its consolidated subsidiaries, as the context may require) was formed on December 20, 2018 as a Delaware limited liability company and commenced operations on April 11, 2019. The Company has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition, the Company has elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ended December 31, 2019.
The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien debt, unitranche debt, including last-out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
Goldman Sachs Asset Management, L.P. (“GSAM”), a Delaware limited partnership and an affiliate of Goldman Sachs & Co. LLC (including its predecessors, “GS & Co.”), is the investment adviser (the “Investment Adviser”) of the Company. The term “Goldman Sachs” refers to The Goldman Sachs Group, Inc. (“GS Group Inc.”), together with GS & Co., GSAM and its other subsidiaries.
On March 25, 2019 (the “Initial Closing Date”), the Company began accepting subscription agreements (“Subscription Agreements”) from investors acquiring common units of the Company’s limited liability company interests (“Units”) in the Company’s private offering. Under the terms of the Subscription Agreements, investors are required to make capital contributions up to the undrawn amount of their capital commitment to purchase Units each time the Company delivers a drawdown notice. On February 26, 2020, the Company’s board of directors (the “Board of Directors” or the “Board”) approved an extension of the final date on which the Company accepted Subscription Agreements (the “Final Closing Date”) to September 26, 2020.
The investment period commenced on the Initial Closing Date and will continue until the third anniversary of the Final Closing Date in the Company’s private offering, provided that it may be extended by the Board of Directors, in its discretion, for one additional twelve-month period, and, with the approval of a majority-in-interest of the unitholders of the Company (the “Unitholders”), for up to one additional year thereafter. In addition, the Board of Directors may terminate the investment period at any time in its discretion.
Following the end of the investment period, the Company will have the right to issue drawdowns only (i) to pay, and/or establish reserves for, actual or anticipated Company expenses, liabilities, including the payment or repayment of indebtedness for borrowed money (including through the issuance of notes and other evidence of indebtedness), other indebtedness, financings or extensions of credit, or other obligations, contingent or otherwise, including the Management Fee (as defined below), whether incurred before or after the end of the investment period, (ii) to fulfill investment commitments made or approved by the BDC investment committee of Goldman Sachs Asset Management's Private Credit Team (the “BDC Investment Committee”) prior to the expiration of the investment period, (iii) to engage in hedging transactions or (iv) to make additional investments in existing portfolio companies (including transactions to hedge interest rate or currency risks related to such additional investment).
The term of the Company will expire on the five-year anniversary of the expiration of the investment period, subject to the Board of Directors’ right to liquidate the Company at any time and to extend the term of the Company for up to two successive one-year periods. Upon the request of the Board of Directors and the approval of a majority-in-interest of the Unitholders, the term of the Company may be further extended.
Credit Alternatives GP LLC (the “Initial Member”), an affiliate of the Investment Adviser, made a capital contribution to the Company of one hundred dollars on April 11, 2019 and served as the sole initial member of the Company. The Company cancelled the Initial Member’s interest in the Company on May 3, 2019, the first date on which investors (other than the Initial Member) made their initial capital contribution to purchase Units (the “Initial Drawdown Date”).
25
2. SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Company’s functional currency is U.S. dollars (“USD”) and these consolidated financial statements have been prepared in that currency. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to Regulation S-X. This requires the Company to make certain estimates and assumptions that may affect the amounts reported in the consolidated financial statements and accompanying notes. These consolidated financial statements reflect normal and recurring adjustments that in the opinion of the Company are necessary for the fair statement of the results for the periods presented. Actual results may differ from the estimates and assumptions included in the consolidated financial statements.
Certain financial information that is included in annual consolidated financial statements, including certain financial statement disclosures, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes related thereto for the year ended December 31, 2022, included in the Company’s annual report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 2, 2023. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year, any other interim period, or any future year or period.
As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”).
Basis of Consolidation
As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the financial position and results of operations of its wholly owned subsidiaries, PMMC II Blocker III LLC, Goldman Sachs Private Middle Market Credit II SPV II LLC (“SPV”), PMMC II Blocker IV LLC, PMMC II Blocker V LLC and PMMC II Blocker VI LLC. All significant intercompany transactions and balances have been eliminated in consolidation.
Revenue Recognition
The Company records its investment transactions on a trade date basis, which is the date when the Company assumes the risks for gains and losses related to that instrument. Realized gains and losses are based on the specific identification method.
Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Discounts and premiums to par value on investments purchased are accreted and amortized into interest income over the life of the respective investment using the effective interest method. Loan origination fees, original issue discount (“OID”) and market discounts or premiums are capitalized and amortized into interest income using the effective interest method or straight-line method, as applicable. Exit fees that are receivable upon repayment of a loan or debt security are amortized into interest income over the life of the respective investment.
|
|
For the Three Months Ended |
|
|
|
For the Six Months Ended |
|
||||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
||||
Prepayment premiums |
|
$ |
— |
|
|
$ |
— |
|
|
|
$ |
— |
|
|
$ |
— |
|
Accelerated amortization of upfront loan origination fees and unamortized discounts |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
$ |
|
Fees received from portfolio companies (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) are paid to the Company, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, the Company only receives its allocable portion of such fees when invested in the same portfolio company as another Account (as defined below) managed by the Investment Adviser.
Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any.
Certain investments may have contractual payment-in-kind (“PIK”) interest or dividends. PIK represents accrued interest or accumulated dividends that are added to the principal amount or shares (if equity) of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest or dividend income, as applicable. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income.
26
Certain structuring fees, amendment fees, syndication fees and commitment fees are recorded as other income when earned. Administrative agent fees received by the Company are recorded as other income when the services are rendered over time.
Non-Accrual Investments
Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. The Company may make exceptions to this treatment if an investment has sufficient collateral value and is in the process of collection. As of June 30, 2023, the Company had certain investments held in one portfolio company on non-accrual status, which represented
Investments
The Company carries its investments in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), issued by the FASB, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is generally based on quoted market prices provided by independent price sources. In the absence of quoted market prices, investments are measured at fair value as determined by the Investment Adviser, as the valuation designee ("Valuation Designee") designated by the Board of Directors, pursuant to Rule 2a-5 under the Investment Company Act.
Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See Note 5 “Fair Value Measurement”.
The Company generally invests in illiquid securities, including debt and equity investments, of middle-market companies. The Board of Directors has designated to the Investment Adviser day-to-day responsibilities for implementing and maintaining internal controls and procedures related to the valuation of the Company’s portfolio investments. Under valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, market quotations are generally used to assess the value of the investments for which market quotations are readily available (as defined in Rule 2a-5). The Investment Adviser obtains these market quotations from independent pricing sources. If market quotations are not readily available, the Investment Adviser prices securities at the bid prices obtained from at least two brokers or dealers, if available; otherwise, the Investment Adviser obtains prices from a principal market maker or a primary market dealer. To assess the continuing appropriateness of pricing sources and methodologies, the Investment Adviser regularly performs price verification procedures and issues challenges as necessary to independent pricing sources or brokers, and any differences are reviewed in accordance with the valuation procedures. If the Valuation Designee believes any such market quotation does not reflect the fair value of an investment, it may independently value such investment in accordance with valuation procedures for investments for which market quotations are not readily available.
With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, the valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, contemplate a multi-step valuation process conducted by the Investment Adviser each quarter and more frequently as needed. As the Valuation Designee, the Investment Adviser is primarily responsible for the valuation of the Company’s assets, subject to the oversight of the Board of Directors, as described below:
27
Money Market Funds
Investments in money market funds are valued at net asset value (“NAV”) per share. See Note 3 “Significant Agreements and Related Party Transactions.”
Cash
Cash consists of deposits held at a custodian bank. As of June 30, 2023 and December 31, 2022, the Company held $
Foreign Currency Translation
Amounts denominated in foreign currencies are translated into USD on the following basis: (i) investments and other assets and liabilities denominated in foreign currencies are translated into USD based upon currency exchange rates effective on the last business day of the period; and (ii) purchases and sales of investments, borrowings and repayments of such borrowings, income, and expenses denominated in foreign currencies are translated into USD based upon currency exchange rates prevailing on the transaction dates.
The Company does not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included within the net realized and unrealized gains or losses on investments. Fluctuations arising from the translation of non-investment assets and liabilities, if any, are included with the net change in unrealized gains (losses) on foreign currency translations in the Consolidated Statements of Operations.
Foreign securities and currency translations may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices to be more volatile than those of comparable U.S. companies or U.S. government securities.
Income Taxes
The Company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The Company reports any interest expense related to income tax matters in income tax expense and any income tax penalties under expenses in the Consolidated Statements of Operations.
The Company’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction, and based on such review, the Company has concluded that no additional provision for income tax is required in the consolidated financial statements. The Company is subject to potential examination by certain taxing authorities in various jurisdictions. The Company’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities.
28
The Company has elected to be treated as a RIC commencing with its taxable year ended December 31, 2019. So long as the Company maintains its qualification for tax treatment as a RIC, it will generally not be required to pay corporate-level U.S. federal income tax on any ordinary income or capital gains that it distributes at least annually to its Unitholders as dividends. As a result, any U.S. federal income tax liability related to income earned and distributed by the Company represents obligations of the Company’s Unitholders and will not be reflected in the consolidated financial statements of the Company.
To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its Unitholders for each taxable year at least 90% of its investment company taxable income (generally, its net ordinary income plus the excess of its realized net short-term capital gains over realized net long-term capital losses, determined without regard to the dividends paid deduction). In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to Unitholders. The Company will accrue excise tax on estimated undistributed taxable income as required.
Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate level income taxes. Income tax expense, if any, is included under the income category for which it applies in the Consolidated Statements of Operations.
Distributions
Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. The Company may pay distributions in excess of its taxable net investment income. This excess would be a tax-free return of capital in the period and reduce the Unitholder’s tax basis in its Units. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to common Units or distributable earnings, as appropriate, in the period that the differences arise. Temporary and permanent differences are primarily attributable to differences in the tax treatment of certain loans and the tax characterization of income and non-deductible expenses. These differences are generally determined in conjunction with the preparation of the Company’s annual RIC tax return. Distributions to common Unitholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board of Directors each quarter and is generally based upon the earnings estimated by the Investment Adviser. The Company may pay distributions to its Unitholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Unitholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Unitholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods.
Deferred Financing Costs
Deferred financing costs consist of fees and expenses paid in connection with the closing of, and amendments to, the JPM Revolving Credit Facility and the revolving credit facility between the Company and MUFG Bank Ltd. (as amended, restated, supplemented or otherwise modified from time to time, the “MUFG Revolving Credit Facility” and together with the JPM Revolving Credit Facility, the “Revolving Credit Facilities”). These costs are amortized using the straight-line method over the respective terms of the Revolving Credit Facilities. Deferred financing costs related to the Revolving Credit Facilities are presented separately as an asset on the Company’s Consolidated Statements of Financial Condition.
29
3. SIGNIFICANT AGREEMENTS AND RELATED PARTY TRANSACTIONS
Investment Advisory Agreement
The Company entered into an investment advisory agreement effective as of February 27, 2019 (the “Investment Advisory Agreement”) with the Investment Adviser, pursuant to which the Investment Adviser manages the Company’s investment program and related activities.
Management Fee
The Company pays the Investment Adviser a management fee (the “Management Fee”), payable quarterly in arrears, equal to
For the three and six months ended June 30, 2023, Management Fees amounted to $
Incentive Fee
Pursuant to the Investment Advisory Agreement, the Company pays to the Investment Adviser an incentive fee (the “Incentive Fee”) as follows:
The Incentive Fee is calculated on a cumulative basis and the amount of the Incentive Fee payable prior to a proposed distribution will be determined and, if applicable, paid in accordance with the foregoing formula each time amounts are to be distributed to the Unitholders. The Incentive Fee is a fee owed by the Company to the Investment Adviser and is not paid out of distributions made to Unitholders.
“Contributed Capital” is the aggregate amount of capital contributions that have been made by all Unitholders in respect of their Units to the Company. All distributions (or deemed distributions), including investment income (i.e. proceeds received in respect of interest payments, dividends and fees) and proceeds attributable to the repayment or disposition of any Investment, to Unitholders will be considered a return of Contributed Capital. Unreturned Contributed Capital equals aggregate Contributed Capital minus cumulative distributions, but is never less than zero.
The term “proceeds intended for distribution and Incentive Fee payments” includes proceeds from the full or partial realization of the Company’s investments and income from investing activities and may include return of capital, ordinary income and capital gains.
If, at the termination of the Company, the Investment Adviser has received aggregate payments of Incentive Fees in excess of the amount the Investment Adviser would have received had the Incentive Fees been determined upon such termination, then the Investment Adviser will reimburse the Company for the difference between the amount of Incentive Fees actually received and the amount determined at termination (the “Investment Adviser Reimbursement Obligation”). However, the Investment Adviser will not be required to reimburse the Company an amount greater than the aggregate Incentive Fees paid to the Investment Adviser, reduced by the excess (if any) of (a) the aggregate federal, state and local income tax liability the Investment Adviser incurred in connection with the payment of such Incentive Fees (assuming the highest marginal applicable federal and New York city and state income tax rates applied to such payments), over (b) an amount equal to the U.S. federal and state tax benefits available to the Investment Adviser by virtue of the payment made by the Investment Adviser pursuant to its Investment Adviser Reimbursement Obligation (assuming that, to the extent such payments are deductible by the Investment Adviser, the benefit of such deductions will be computed using the then highest marginal applicable federal and New York city and state income tax rates).
30
If the Investment Advisory Agreement is terminated prior to the termination of the Company (other than the Investment Adviser voluntarily terminating the agreement), the Company will pay to the Investment Adviser a final Incentive Fee payment (the “Final Incentive Fee Payment”). The Final Incentive Fee Payment will be calculated as of the date the Investment Advisory Agreement is terminated and will equal the amount of Incentive Fee that would be payable to the Investment Adviser if (a) all investments were liquidated for their current value (but without taking into account any unrealized appreciation of any Investment), and any unamortized deferred Investment-related fees would be deemed accelerated, (b) the proceeds from such liquidation were used to pay all of the Company’s outstanding liabilities, and (c) the remainder was distributed to Unitholders and paid as Incentive Fee in accordance with the Incentive Fee waterfall described above for determining the amount of the Incentive Fee, subject to the Incentive Fee Cap. The Company will make the Final Incentive Fee Payment in cash on or immediately following the date the Investment Advisory Agreement is so terminated. The Investment Adviser Reimbursement Obligation will be determined as of the date of the termination of the Investment Advisory Agreement for purposes of the Final Incentive Fee Payment.
For the three and six months ended June 30, 2023, the Company accrued unvested Incentive Fees of $
Expense Limitation
Pursuant to the Investment Advisory Agreement, Company expenses borne by the Company in the ordinary course on an annual basis (excluding Management Fee, Incentive Fee, organizational and start-up expenses and leverage-related expenses) will not exceed an amount equal to
Administration and Custodian Fees
The Company has entered into an administration agreement with State Street Bank and Trust Company (the “Administrator”) under which the Administrator provides various accounting and administrative services to the Company. The Company pays the Administrator fees for its services as it determines to be commercially reasonable in its sole discretion. The Company also reimburses the Administrator for all reasonable expenses. To the extent that the Administrator outsources any of its functions, the Administrator pays any compensation associated with such functions. The Administrator also serves as the Company’s custodian (the “Custodian”).
For the three and six months ended June 30, 2023, the Company incurred expenses for services provided by the Administrator and the Custodian of $
Transfer Agent Fees
State Street Bank and Trust Company serves as the Company’s transfer agent (“Transfer Agent”), registrar and disbursing agent. For the three and six months ended June 30, 2023, the Company incurred expenses for services provided by the Transfer Agent of $
Affiliates
The table below presents the Company’s affiliated investments:
|
|
Beginning |
|
|
Gross |
|
|
Gross |
|
Net |
|
|
Net Change in |
|
|
Ending |
|
|
Dividend, |
|
|
|||||||
For the Six Months Ended June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-Controlled Affiliates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Goldman Sachs Financial Square Government Fund |
|
$ |
|
|
$ |
|
|
$ |
( |
) |
$ |
— |
|
|
$ |
— |
|
|
$ |
|
|
$ |
|
|
||||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
|
|
|
|
|
|
|
|
( |
) |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|||||
Medeanalytics Inc |
|
|
— |
|
|
|
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
— |
|
|
||
Total Non-Controlled Affiliates |
|
$ |
|
|
$ |
|
|
$ |
( |
) |
$ |
— |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
|||||
For the Year Ended December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-Controlled Affiliates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Goldman Sachs Financial Square Government Fund |
|
$ |
— |
|
|
$ |
|
|
$ |
( |
) |
$ |
— |
|
|
$ |
— |
|
|
$ |
|
|
$ |
|
|
|||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
|
|
— |
|
|
|
|
|
|
( |
) |
|
— |
|
|
|
|
|
|
|
|
|
|
|
||||
Total Non-Controlled Affiliates |
|
$ |
— |
|
|
$ |
|
|
$ |
( |
) |
$ |
— |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
31
Due to Affiliates
The Investment Adviser pays certain general and administrative expenses on behalf of the Company in the ordinary course of business. As of June 30, 2023 and December 31, 2022, there were $
Co-Investment Activity
In certain circumstances, the Company can make negotiated co-investments pursuant to an order from the SEC permitting it to do so. On November 16, 2022, the SEC granted to the Investment Adviser, the BDCs advised by the Investment Adviser and certain other affiliated applicants exemptive relief on which the Company expects to rely to co-invest alongside certain other client accounts managed by the Investment Adviser (collectively with the Company, the “Accounts”), which may include proprietary accounts of Goldman Sachs, in a manner consistent with the Company’s investment objectives and strategies, certain Board-established criteria, the conditions of such exemptive relief and other pertinent factors (the “Relief”). Additionally, if the Investment Adviser forms other funds in the future, the Company may co-invest alongside such other affiliates, subject to compliance with the Relief, applicable regulations and regulatory guidance, as well as applicable allocation procedures. As a result of the Relief, there could be significant overlap in the Company’s investment portfolio and the investment portfolios of other Accounts, including, in some cases, proprietary accounts of Goldman Sachs. The Goldman Sachs Asset Management Private Credit Team is composed of investment professionals dedicated to the Company’s investment strategy and to other funds that share a similar investment strategy with the Company. The Goldman Sachs Asset Management Private Credit Team is responsible for identifying investment opportunities, conducting research and due diligence on prospective investments, negotiating and structuring the Company’s investments and monitoring and servicing the Company’s investments. The team works together with investment professionals who are primarily focused on investment strategies in syndicated, liquid credit. Under the terms of the Relief, a “required majority” (as defined in Section 57(o) of the Investment Company Act) of the Company’s independent directors must make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the proposed transaction are reasonable and fair to the Company and the Company’s Unitholders and do not involve overreaching in respect of the Company or its Unitholders on the part of any person concerned, and (2) the transaction is consistent with the interests of the Company’s Unitholders and is consistent with the then-current investment objectives and strategies of the Company.
In addition, the Company has filed an application to amend the Relief to permit the Company to participate in follow-on investments in the Company’s existing portfolio companies with certain affiliates covered by the Relief if such affiliates, that are not BDCs or registered investment companies, did not have an investment in such existing portfolio company. There can be no assurance if and when the Company will receive the amended exemptive order.
4. INVESTMENTS
The Company’s investments (excluding investments in money market funds, if any) consisted of the following:
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||
Investment Type |
|
Cost |
|
|
Fair Value |
|
|
Cost |
|
|
Fair Value |
|
||||
1st Lien/Senior Secured Debt |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
||||
1st Lien/Last-Out Unitranche |
|
|
|
|
|
|
|
|
|
|
|
|
||||
2nd Lien/Senior Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Unsecured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Preferred Stock |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Common Stock |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Total investments |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
32
The industry composition of the Company’s investments at fair value and net assets was as follows:
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||
Industry |
|
Fair Value |
|
|
Net Assets |
|
|
Fair Value |
|
|
Net Assets |
|
||||
Software |
|
|
% |
|
|
% |
|
|
% |
|
|
% |
||||
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Real Estate Mgmt. & Development |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
||||
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial Services & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Health Care Equipment & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Entertainment |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Construction & Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Aerospace & Defense |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Transportation Infrastructure |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Trading Companies & Distributors |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Total |
|
|
% |
|
|
% |
|
|
% |
|
|
% |
The geographic composition of the Company’s investments at fair value was as follows:
Geographic |
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||
United States |
|
|
% |
|
|
% |
||
Canada |
|
|
|
|
|
|
||
United Kingdom |
|
|
|
|
|
|
||
Total |
|
|
% |
|
|
% |
33
5. FAIR VALUE MEASUREMENT
The fair value of a financial instrument is the amount that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price).
The fair value hierarchy under ASC 820 prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these securities. The three levels of the fair value hierarchy are as follows:
Basis of Fair Value Measurement
Level 1 – Inputs to the valuation methodology are quoted prices available in active markets for identical instruments as of the reporting date. The types of financial instruments included in Level 1 include unrestricted securities, including equities and derivatives, listed in active markets.
Level 2 – Inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date. The types of financial instruments in this category include less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities and certain over-the-counter derivatives where the fair value is based on observable inputs.
Level 3 – Inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category include investments in privately held entities and certain over-the-counter derivatives where the fair value is based on unobservable inputs.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Note 2 “Significant Accounting Policies” should be read in conjunction with the information outlined below.
34
The table below presents the valuation techniques and the nature of significant inputs generally used in determining the fair value of Level 2 and Level 3 Instruments.
Level 2 Instruments |
Valuation Techniques and Significant Inputs |
Equity and Fixed Income |
The types of instruments that trade in markets that are not considered to be active but are valued based on quoted market prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency include commercial paper, most government agency obligations, most corporate debt securities, certain mortgage-backed securities, certain bank loans, less liquid publicly listed equities, certain state and municipal obligations, certain money market instruments and certain loan commitments.
Valuations of Level 2 Equity and Fixed Income instruments can be verified to quoted prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Consideration is given to the nature of the quotations (e.g. indicative or firm) and the relationship of recent market activity to the prices provided from alternative pricing sources. |
Derivative Contracts |
Over-the-counter (“OTC”) derivatives (both centrally cleared and bilateral) are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources with reasonable levels of price transparency. Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the availability of pricing information in the market. The Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC derivatives that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are corroborated by market evidence. |
Level 3 Instruments |
Valuation Techniques and Significant Inputs |
Bank Loans, Corporate Debt, and Other Debt Obligations |
Valuations are generally based on discounted cash flow techniques, for which the significant inputs are the amount and timing of expected future cash flows, market yields and recovery assumptions. The significant inputs are generally determined based on relative value analyses, which incorporate comparisons both to credit default swaps that reference the same underlying credit risk and to other debt instruments for the same issuer for which observable prices or broker quotes are available. Other valuation methodologies are used as appropriate including market comparables, transactions in similar instruments and recovery/liquidation analysis. |
Equity |
Recent third-party investments or pending transactions are considered to be the best evidence for any change in fair value. When these are not available, the following valuation methodologies are used, as appropriate and available: (i) Transactions in similar instruments; (ii) Discounted cash flow techniques; (iii) Third party appraisals; and (iv) Industry multiples and public comparables.
Evidence includes recent or pending reorganizations (for example, merger proposals, tender offers and debt restructurings) and significant changes in financial metrics, including: (i) Current financial performance as compared to projected performance; (ii) Capitalization rates and multiples; and (iii) Market yields implied by transactions of similar or related assets. |
35
Level 3 Instruments |
Fair |
|
Valuation |
Significant |
Range(4) of Significant |
Weighted |
|
As of June 30, 2023 |
|
|
|
|
|
|
|
Bank Loans, Corporate Debt, and Other Debt Obligations |
|||||||
1st Lien/Senior Secured |
$ |
|
Discounted cash flows |
Discount Rate |
|||
|
|
|
Comparable multiples |
EV/Revenue |
— |
||
1st Lien/Last-Out Unitranche |
|
|
Discounted cash flows |
Discount Rate |
— |
||
Unsecured Debt |
|
|
Discounted cash flows |
Discount Rate |
— |
||
Equity |
|
|
|
|
|
|
|
Preferred Stock |
$ |
|
Comparable multiples |
EV/EBITDA(6) |
|||
|
|
|
Comparable multiples |
EV/Revenue |
|||
Common Stock |
|
|
Comparable multiples |
EV/EBITDA(6) |
|||
|
|
|
Comparable multiples |
EV/Revenue |
— |
||
Warrants |
|
|
Comparable multiples |
EV/Revenue |
— |
||
As of December 31, 2022 |
|
|
|
|
|
|
|
Bank Loans, Corporate Debt, and Other Debt Obligations |
|||||||
1st Lien/Senior Secured |
$ |
|
Discounted cash flows |
Discount Rate |
|||
|
|
|
Comparable multiples |
EV/Revenue |
— |
||
1st Lien/Last-Out Unitranche |
|
|
Discounted cash flows |
Discount Rate |
— |
||
Unsecured Debt |
|
|
Discounted cash flows |
Discount Rate |
— |
||
Equity |
|
|
|
|
|
|
|
Preferred Stock |
$ |
|
Comparable multiples |
EV/EBITDA(6) |
|||
|
|
|
Comparable multiples |
EV/Revenue |
|||
Common Stock |
|
|
Comparable multiples |
EV/EBITDA(6) |
|||
|
|
|
Comparable multiples |
EV/Revenue |
— |
||
Warrants |
|
|
Comparable multiples |
EV/Revenue |
— |
As noted above, the income and market approaches were used in the determination of fair value of certain Level 3 assets as of June 30, 2023 and December 31, 2022. The significant unobservable inputs used in the income approach are the discount rate or market yield used to discount the estimated future cash flows expected to be received from the underlying investment, which include both future principal and interest payments. An increase in the discount rate or market yield would result in a decrease in the fair value. Included in the consideration and selection of discount rates or market yields is risk of default, rating of the investment, call provisions and comparable company investments. The significant unobservable inputs used in the market approach are based on market comparable transactions and market multiples of publicly traded comparable companies. Increases or decreases in market comparable transactions or market multiples would result in an increase or decrease in the fair value.
36
The following is a summary of the Company’s assets categorized within the fair value hierarchy:
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||||||||||||||||||
Assets |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
||||||||
1st Lien/Senior Secured Debt |
|
$ |
— |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
— |
|
|
$ |
|
|
$ |
|
|
$ |
|
||||||
1st Lien/Last-Out Unitranche |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||||
2nd Lien/Senior Secured Debt |
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
||||
Unsecured Debt |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||||
Preferred Stock |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||||
Common Stock |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||||
Warrants |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||||
Investments in Affiliated Money Market Fund |
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
||||
Total |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
The below table presents a summary of changes in fair value of Level 3 assets by investment type:
Assets |
|
Beginning |
|
|
Purchases(1) |
|
|
Net |
|
|
Net Change in |
|
|
Sales and |
|
|
Net |
|
|
Transfers |
|
|
Transfers |
|
|
Ending Balance |
|
|
Net Change in |
|
||||||||||
For the Six Months Ended June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
1st Lien/Senior Secured Debt |
|
$ |
|
|
$ |
|
|
$ |
( |
) |
|
$ |
|
|
$ |
( |
) |
|
$ |
|
|
$ |
— |
|
|
$ |
( |
) |
|
$ |
|
|
$ |
( |
) |
|||||
1st Lien/Last-Out Unitranche |
|
|
|
|
|
|
|
|
— |
|
|
|
( |
) |
|
|
— |
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
( |
) |
||||
2nd Lien/Senior Secured Debt |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Unsecured Debt |
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
( |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|||||
Preferred Stock |
|
|
|
|
|
— |
|
|
|
( |
) |
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||||
Common Stock |
|
|
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||||
Warrants |
|
|
|
|
|
— |
|
|
|
— |
|
|
|
( |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
( |
) |
||
Total assets |
|
$ |
|
|
$ |
|
|
$ |
( |
) |
|
$ |
|
|
$ |
( |
) |
|
$ |
|
|
$ |
— |
|
|
$ |
( |
) |
|
$ |
|
|
$ |
( |
) |
|||||
For the Six Months Ended June 30, 2022 |
|
|||||||||||||||||||||||||||||||||||||||
1st Lien/Senior |
|
$ |
|
|
$ |
|
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
|
|
$ |
( |
) |
||||
2nd Lien/Senior Secured Debt |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
( |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
( |
) |
|||
Unsecured Debt |
|
|
— |
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
— |
|
||
Preferred Stock |
|
|
|
|
|
— |
|
|
|
— |
|
|
|
( |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
( |
) |
||
Common Stock |
|
|
|
|
|
|
|
|
— |
|
|
|
( |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
( |
) |
|||
Warrants |
|
|
|
|
|
— |
|
|
|
— |
|
|
|
( |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
( |
) |
||
Total assets |
|
$ |
|
|
$ |
|
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
|
|
$ |
|
|
$ |
— |
|
|
$ |
|
|
$ |
( |
) |
Debt Not Carried at Fair Value
The fair value of the Company’s debt, which would have been categorized as Level 3 within the fair value hierarchy as of June 30, 2023 and December 31, 2022, approximates its carrying value because the Revolving Credit Facilities have variable interest based on selected short-term rates.
37
6. DEBT
On May 2, 2019, the Initial Member approved the application of the reduced asset coverage requirements in Section 61(a)(2) of the Investment Company Act to the Company and such election became effective the following day. As a result of this approval, the Company is currently allowed to borrow amounts such that its asset coverage ratio, as defined in the
The Company’s outstanding debt was as follows:
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||||||||||
|
|
Aggregate |
|
|
Amount |
|
|
Carrying |
|
|
Aggregate |
|
|
Amount |
|
|
Carrying |
|
||||||
MUFG Revolving Credit Facility(1) |
|
$ |
|
|
$ |
|
|
|
|
|
$ |
|
|
|
|
|
$ |
— |
|
|||||
JPM Revolving Credit Facility(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Total debt |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
The combined weighted average interest rates of the aggregate borrowings outstanding for the six months ended June 30, 2023 and for the year ended December 31, 2022 were
MUFG Revolving Credit Facility
The Company entered into the MUFG Revolving Credit Facility on May 7, 2019 with MUFG Bank Ltd., as administrative agent (the “Administrative Agent”), lead arranger, letter of credit issuer and lender. The Company amended the MUFG Revolving Credit Facility on numerous occasions between July 31, 2019 and May 4, 2023.
Subject to availability under the “Borrowing Base,” the maximum principal amount of the MUFG Revolving Credit Facility was $
Proceeds from the MUFG Revolving Credit Facility may be used for investments, working capital, expenses and general corporate purposes (including to pay dividends or distributions).
Amounts drawn under the MUFG Revolving Credit Facility may be prepaid at any time without premium or penalty, subject to applicable breakage costs. Loans are subject to mandatory prepayment for amounts exceeding the Borrowing Base or the lenders’ aggregate commitment and to the extent required to comply with the Investment Company Act, as applied to BDCs. Transfers of interests in the Company by investors are subject to certain restrictions under the MUFG Revolving Credit Facility. In addition, any transfer of Units from a Unitholder whose undrawn commitments are included in the Borrowing Base to a Unitholder that is not eligible to be included in the Borrowing Base (or that is eligible to be included in the Borrowing Base at a lower advance rate) may trigger mandatory prepayment obligations.
38
The MUFG Revolving Credit Facility is secured by a perfected first priority security interest in the unfunded capital commitments of the Company’s investors (with certain exceptions) and the proceeds thereof, including an assignment of the right to make capital calls, receive and apply capital contributions, and enforce remedies and claims related thereto, and a pledge of the collateral account into which capital call proceeds are deposited. Additionally, under the MUFG Revolving Credit Facility, in certain circumstances after an event of default, the Administrative Agent will be able to require investors to fund their capital commitments directly to the Administrative Agent for the purposes of repaying the loans, but lenders cannot seek recourse against a Unitholder in excess of such Unitholder’s obligation to contribute capital to the Company.
The MUFG Revolving Credit Facility contains customary representations, warranties, and affirmative and negative covenants, including without limitation, representations and covenants regarding treatment as a RIC under the Code and as a BDC under the Investment Company Act and restrictions on the Company’s ability to make certain distributions, to incur additional indebtedness, to incur any liens on the collateral and to permit certain transfers of Unitholders’ ownership interest in the Units. The MUFG Revolving Credit Facility includes customary conditions precedent to the draw-down of loans and customary events of default. As of June 30, 2023, the Company was in compliance with these covenants.
Costs of $
The below table presents the summary information of the MUFG Revolving Credit Facility:
|
|
For the Three Months Ended |
|
For the Six Months Ended |
|
||||||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
||||
Borrowing interest expense |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
$ |
|
||||
Facility fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Amortization of financing costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Total |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
$ |
|
||||
Weighted average interest rate |
|
|
% |
|
|
% |
|
|
|
% |
|
|
% |
||||
Average outstanding balance |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
$ |
|
JPM Revolving Credit Facility
On September 24, 2020, SPV entered into the JPM Revolving Credit Facility. JPMorgan Chase Bank, National Association (“JPM”) serves as administrative agent, U.S. Bank Trust Company, National Association serves as collateral agent and collateral administrator, U.S. Bank National Association serves as securities intermediary and the Company serves as portfolio manager under the JPM Revolving Credit Facility. The Company amended the JPM Revolving Credit Facility numerous occasions between February 12, 2021 and February 15, 2022.
SPV’s obligations to the lenders under the JPM Revolving Credit Facility are secured by a first priority security interest in all of SPV’s portfolio of investments and cash. The obligations of SPV under the JPM Revolving Credit Facility are non-recourse to the Company, and the Company’s exposure under the JPM Revolving Credit Facility is limited to the value of the Company’s investment in SPV.
In connection with the JPM Revolving Credit Facility, SPV has made certain customary representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar facilities. The JPM Revolving Credit Facility contains customary events of default for similar financing transactions, including if a change of control of SPV occurs or if the Company is no longer the portfolio manager of SPV. Upon the occurrence and during the continuation of an event of default, JPM may declare the outstanding advances and all other obligations under the JPM Revolving Credit Facility immediately due and payable. As of June 30, 2023, the Company was in compliance with these covenants.
39
Costs of $
The below table presents the summary information of the JPM Revolving Credit Facility:
|
|
For the Three Months Ended |
|
For the Six Months Ended |
|
||||||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
||||
Borrowing interest expense |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
$ |
|
||||
Facility fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Amortization of financing costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Total |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
$ |
|
||||
Weighted average interest rate |
|
|
% |
|
|
% |
|
* |
|
% |
|
|
% |
||||
Average outstanding balance |
|
$ |
|
|
$ |
|
|
* |
$ |
|
|
$ |
|
7. COMMITMENTS AND CONTINGENCIES
Capital Commitments
The Company had aggregate capital commitments and undrawn capital commitments from investors as follows:
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||||||||||
|
|
Capital |
|
|
Unfunded |
|
|
% of Capital |
|
|
Capital |
|
|
Unfunded |
|
|
% of Capital |
|
||||||
Common Units |
|
$ |
|
|
$ |
|
|
|
% |
|
$ |
|
|
$ |
|
|
|
% |
Portfolio Company Commitments
The Company may enter into investment commitments to fund investments through signed commitment letters. In many circumstances, borrower acceptance and final terms are subject to transaction-related contingencies. These are disclosed as commitments upon execution of a final agreement. As of June 30, 2023, the Company believed that it had adequate financial resources to satisfy its unfunded commitments.
|
|
Unfunded Commitment Balances(1) |
|
|||||
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||
1st Lien/Senior Secured Debt |
|
|
|
|
|
|
||
1272775 B.C. LTD. (dba Everest Clinical Research) |
|
$ |
|
|
$ |
|
||
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) |
|
|
|
|
|
|
||
Acquia, Inc. |
|
|
|
|
|
|
||
Admiral Buyer, Inc. (dba Fidelity Payment Services) |
|
|
|
|
|
|
||
Apptio, Inc. |
|
|
|
|
|
|
||
AQ Helios Buyer, Inc. (dba SurePoint) |
|
|
|
|
|
|
||
Assembly Intermediate LLC |
|
|
|
|
|
|
||
Bigchange Group Limited |
|
|
|
|
|
|
||
Broadway Technology, LLC |
|
|
|
|
|
|
||
BSI3 Menu Buyer, Inc (dba Kydia) |
|
|
|
|
|
|
||
Bullhorn, Inc. |
|
|
|
|
|
|
||
Businessolver.com, Inc. |
|
|
|
|
|
|
||
Capitol Imaging Acquisition Corp. |
|
|
|
|
|
|
||
CFS Management, LLC (dba Center for Sight Management) |
|
|
|
|
|
|
||
Checkmate Finance Merger Sub, LLC |
|
|
|
|
|
|
||
Chronicle Bidco Inc. (dba Lexitas) |
|
|
|
|
|
|
||
CivicPlus LLC |
|
|
|
|
|
|
||
Clearcourse Partnership Acquireco Finance Limited |
|
|
|
|
|
|
||
CloudBees, Inc. |
|
|
|
|
|
|
||
Coding Solutions Acquisition, Inc. |
|
|
|
|
|
|
||
CorePower Yoga LLC |
|
|
|
|
|
|
||
DECA Dental Holdings LLC |
|
|
|
|
|
|
||
Diligent Corporation |
|
|
|
|
|
|
||
Eptam Plastics, Ltd. |
|
|
|
|
|
|
||
ESO Solutions, Inc |
|
|
|
|
|
|
||
Experity, Inc. |
|
|
|
|
|
|
||
Fullsteam Operations LLC |
|
|
|
|
|
|
||
Gainsight, Inc. |
|
|
|
|
|
|
||
GHA Buyer Inc. (dba Cedar Gate) |
|
|
|
|
|
|
40
|
|
Unfunded Commitment Balances(1) |
|
|||||
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
|
$ |
|
|
$ |
|
||
Governmentjobs.com, Inc. (dba NeoGov) |
|
|
|
|
|
|
||
GS AcquisitionCo, Inc. (dba Insightsoftware) |
|
|
|
|
|
|
||
HealthEdge Software, Inc. |
|
|
|
|
|
|
||
Helios Buyer, Inc. (dba Heartland) |
|
|
|
|
|
|
||
Honor HN Buyer, Inc |
|
|
|
|
|
|
||
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) |
|
|
|
|
|
|
||
HumanState Limited (dba PayProp) |
|
|
|
|
|
|
||
iCIMS, Inc. |
|
|
|
|
|
|
||
Intelligent Medical Objects, Inc. |
|
|
|
|
|
|
||
Kaseya Inc. |
|
|
|
|
|
|
||
MerchantWise Solutions, LLC (dba HungerRush) |
|
|
|
|
|
|
||
Millstone Medical Outsourcing, LLC |
|
|
|
|
|
|
||
MRI Software LLC |
|
|
|
|
|
|
||
NFM & J, L.P. (dba the Facilities Group) |
|
|
|
|
|
|
||
One GI LLC |
|
|
|
|
|
|
||
PDDS Holdco, Inc. (dba Planet DDS) |
|
|
|
|
|
|
||
Pioneer Buyer I, LLC |
|
|
|
|
|
|
||
Pluralsight, Inc |
|
|
|
|
|
|
||
Premier Care Dental Management, LLC |
|
|
|
|
|
|
||
Premier Imaging, LLC (dba Lucid Health) |
|
|
|
|
|
|
||
Project Eagle Holdings, LLC (dba Exostar) |
|
|
|
|
|
|
||
Prophix Software Inc. (dba Pound Bidco) |
|
|
|
|
|
|
||
Riverpoint Medical, LLC |
|
|
|
|
|
|
||
Rodeo Buyer Company (dba Absorb Software) |
|
|
|
|
|
|
||
Rubrik, Inc. |
|
|
|
|
|
|
||
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) |
|
|
|
|
|
|
||
SpendMend, LLC |
|
|
|
|
|
|
||
StarCompliance Intermediate, LLC |
|
|
|
|
|
|
||
Sundance Group Holdings, Inc. (dba NetDocuments) |
|
|
|
|
|
|
||
Sunstar Insurance Group, LLC |
|
|
|
|
|
|
||
Superman Holdings, LLC (dba Foundation Software) |
|
|
|
|
|
|
||
Sweep Purchaser LLC |
|
|
|
|
|
|
||
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) |
|
|
|
|
|
|
||
Total Vision LLC |
|
|
|
|
|
|
||
USN Opco LLC (dba Global Nephrology Solutions) |
|
|
|
|
|
|
||
Volt Bidco, Inc. (dba Power Factors) |
|
|
|
|
|
|
||
VRC Companies, LLC (dba Vital Records Control) |
|
|
|
|
|
|
||
WebPT, Inc. |
|
|
|
|
|
|
||
Wellness AcquisitionCo, Inc. (dba SPINS) |
|
|
|
|
|
|
||
Whitewater Holding Company LLC |
|
|
|
|
|
|
||
WorkForce Software, LLC |
|
|
|
|
|
|
||
Zarya Intermediate, LLC (dba iOFFICE) |
|
|
|
|
|
|
||
CORA Health Holdings Corp |
|
|
|
|
|
|
||
Qualawash Holdings, LLC |
|
|
— |
|
|
|
|
|
Thrasio, LLC |
|
|
— |
|
|
|
|
|
Total 1st Lien/Senior Secured Debt |
|
$ |
|
|
$ |
|
||
|
|
|
|
|
|
|
||
1st Lien/Last-Out Unitranche |
|
|
|
|
|
|
||
EDB Parent, LLC (dba Enterprise DB) |
|
$ |
|
|
$ |
|
||
Total 1st Lien/Last-Out Unitranche |
|
$ |
|
|
$ |
|
||
Total |
|
$ |
|
|
$ |
|
Contingencies
In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. Currently, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications.
41
8. MEMBERS’ CAPITAL
Capital Drawdowns
The following table summarizes the Total Units issued and proceeds related to capital drawdowns
Unit Issue Date |
|
Units Issued |
|
|
Proceeds Received |
|
||
For the Six Months Ended June 30, 2023 |
|
|
|
|
|
|
||
May 30, 2023 |
|
|
|
|
$ |
|
||
Total capital drawdowns |
|
|
|
|
$ |
|
||
For the Six Months Ended June 30, 2022 |
|
|
|
|
|
|
||
June 21, 2022 |
|
|
|
|
$ |
|
||
Total capital drawdowns |
|
|
|
|
$ |
|
Distributions
The following table reflects the distributions declared on the Company’s common Units:
Date Declared |
|
Record Date |
|
Payment Date |
|
Amount Per Unit |
|
|
For the Six Months to June 30, 2023 |
|
|
|
|
|
|||
|
|
|
$ |
|
||||
For the Six Months Ended June 30, 2022 |
|
|
|
|
|
|||
|
|
|
$ |
|
||||
|
|
|
$ |
|
9. EARNINGS PER UNIT
The following information sets forth the computation of basic and diluted earnings per unit:
|
|
For the Three Months Ended |
|
|
For the Six Months Ended |
|
|||||||||
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
June 30, |
|
||||
Net increase in Members’ Capital from operations |
|
$ |
|
|
$ |
|
|
$ |
|
$ |
|
||||
Weighted average Units outstanding |
|
|
|
|
|
|
|
|
|
|
|
||||
Basic and diluted earnings per unit |
|
$ |
|
|
$ |
|
|
$ |
|
$ |
|
Diluted earnings per unit equal basic earnings per unit because there were no common unit equivalents outstanding during the period presented.
10. FINANCIAL HIGHLIGHTS
The below table presents the schedule of financial highlights of the Company:
|
|
For the Six Months Ended |
|
|||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
||
Per Unit Data:(1) |
|
|
|
|
|
|
||
NAV, beginning of period |
|
$ |
|
|
$ |
|
||
Net investment income |
|
|
|
|
|
|
||
Net realized and unrealized gains (losses)(2) |
|
|
( |
) |
|
|
( |
) |
Income tax provision, realized and unrealized gains |
|
|
( |
) |
|
|
( |
) |
Net increase in Members’ Capital from operations(2) |
|
$ |
|
|
$ |
|
||
Distributions declared from net investment income |
|
|
( |
) |
|
|
( |
) |
Total increase (decrease) in Members’ Capital |
|
$ |
|
|
$ |
|
||
NAV, end of period |
|
$ |
|
|
$ |
|
||
Units outstanding, end of period |
|
|
|
|
|
|
||
Weighted average units outstanding |
|
|
|
|
|
|
||
Total return based on NAV(3) |
|
|
% |
|
|
% |
||
Supplemental Data/Ratio:(4) |
|
|
|
|
|
|
||
Members’ Capital, end of period |
|
$ |
|
|
$ |
|
||
Ratio of expenses (without incentive fees and interest and other debt |
|
|
% |
|
|
% |
||
Ratio of interest and other debt expenses to average Members’ Capital |
|
|
% |
|
|
% |
||
Ratio of incentive fees to average Members’ Capital |
|
|
% |
|
|
% |
||
Ratio of total expenses to average Members’ Capital |
|
|
% |
|
|
% |
||
Ratio of net investment income to average Members’ Capital |
|
|
% |
|
|
% |
||
Portfolio turnover |
|
|
% |
|
|
% |
42
11. SUBSEQUENT EVENTS
Subsequent events after the date of the Consolidated Statements of Financial Condition have been evaluated through the date the unaudited consolidated financial statements were issued. Other than the item discussed below, the Company has concluded that there is no impact requiring adjustment or disclosure in the consolidated financial statements.
43
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion and other parts of this report contain forward-looking information that involves risks and uncertainties. References to “we,” “us,” “our,” and the “Company,” mean Goldman Sachs Private Middle Market Credit II LLC or Goldman Sachs Private Middle Market Credit II LLC, together with its consolidated subsidiaries, as the context may require. The terms “GSAM,” “Goldman Sachs Asset Management,” our “Adviser” or our “Investment Adviser” refer to Goldman Sachs Asset Management, L.P., a Delaware limited partnership. The term “GS Group Inc.” refers to The Goldman Sachs Group, Inc. “GS & Co.” refers to Goldman Sachs & Co. LLC and its predecessors. The term “Goldman Sachs” refers to GS Group Inc., together with GS & Co., GSAM and its other subsidiaries and affiliates. The discussion and analysis contained in this section refers to our financial condition, results of operations and cash flows. The information contained in this section should be read in conjunction with the consolidated financial statements and notes thereto appearing elsewhere in this report. Please see “Cautionary Statement Regarding Forward-Looking Statements” for a discussion of the uncertainties, risks and assumptions associated with this discussion and analysis. Our actual results could differ materially from those anticipated by such forward-looking information due to factors discussed under “Cautionary Statement Regarding Forward-Looking Statements” appearing elsewhere in this report.
OVERVIEW
We are a specialty finance company focused on lending to middle-market companies. We are a closed-end management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition, we have elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and we expect to qualify annually for tax treatment as a RIC, commencing with our taxable year ended December 31, 2019. From our commencement of investment operations on April 11, 2019 through June 30, 2023, we have originated $4.04 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits and repayments. We seek to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, unitranche debt, including last-out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
“Unitranche” loans are first lien loans that extend deeper in a borrower’s capital structure than traditional first lien debt and may provide for a waterfall of cash flow priority between different lenders in such loan. In a number of instances, we may find another lender to provide the “first-out” portion of a unitranche loan while we retain the “last-out” portion of such loan, in which case, the “first-out” portion of the loan would generally receive priority with respect to the payment of principal, interest and any other amounts due thereunder as compared to the “last-out” portion that we would continue to hold. In exchange for taking greater risk of loss, the “last-out” portion generally earns a higher interest rate than the “first-out” portion of the loan. We use the term “mezzanine” to refer to debt that ranks senior in right of payment only to a borrower’s equity securities and ranks junior in right of payment to all of such borrower’s other indebtedness. We may make multiple investments in the same portfolio company.
We expect to invest, under normal circumstances, at least 80% of our net assets (plus any borrowings for investment purposes), directly or indirectly in private middle-market credit obligations and related instruments. We define “credit obligations and related instruments” for this purpose as any fixed-income instrument, including loans to, and bonds and preferred stock of, portfolio companies and other instruments that provide exposure to such fixed-income instruments. “Middle market” is used to refer to companies with between $5 million and $200 million of annual earnings before interest expense, income tax expense, depreciation and amortization (“EBITDA”) excluding certain one-time and non-recurring items that are outside the operations of these companies. While, as a result of fluctuations in the net asset value (“NAV”) of one asset relative to other assets, private middle-market credit obligations and related instruments may represent less than 80% of our net assets (plus any borrowings for investment purposes) at any time, we may not invest, under normal circumstances, more than 20% of our net assets (plus any borrowings for investment purposes) in securities and other instruments that are not private middle-market credit obligations and related instruments. To the extent we determine to invest indirectly in private middle-market credit obligations and related instruments, we may invest through certain synthetic instruments, including derivatives that have similar economic characteristics to private middle-market credit obligations. For purposes of determining compliance with our 80% policy, each applicable derivative instrument will be valued based upon its market value. We will notify our unitholders (the “Unitholders”) at least 60 days prior to any change to the 80% investment policy described above.
We may also originate “covenant-lite” loans, which are loans with fewer financial maintenance covenants than other obligations, or no financial maintenance covenants. Such covenant-lite loans may not include terms that allow the lender to monitor the performance of the borrower or to declare a default if certain criteria are breached. These flexible covenants (or the absence of covenants) could permit borrowers to experience a significant downturn in their results of operations without triggering any default that would permit holders of their debt (such as us) to accelerate indebtedness or negotiate terms and pricing. In the event of default, covenant-lite loans may recover less value than traditional loans as the lender may not have an opportunity to negotiate with the borrower prior to such default.
We expect to directly or indirectly invest at least 70% of our total assets in middle-market companies domiciled in the United States. However, we may from time to time invest opportunistically in large U.S. companies, non-U.S. companies, stressed or distressed debt, structured products, private equity or other opportunities, subject to limits imposed by the Investment Company Act.
44
While our investment program is expected to focus primarily on debt investments, our investments may include equity features, such as a direct investment in the equity or convertible securities of a portfolio company or warrants or options to buy a minority interest in a portfolio company. Any warrants we may receive with debt securities will generally require only a nominal cost to exercise, so as a portfolio company appreciates in value, we may achieve additional investment return from these equity investments. We may structure the warrants to provide provisions protecting our rights as a minority-interest holder, as well as puts, or rights to sell such securities back to the portfolio company, upon the occurrence of specified events. In many cases, we may also obtain registration rights in connection with these equity investments, which may include demand and “piggyback” registration rights.
For a discussion of the competitive landscape we face, please see “Item 1A. Risk Factors—Competition—We operate in a highly competitive market for investment opportunities” and “Item 1. Business—Competitive Advantages” in our annual report on Form 10-K for the year ended December 31, 2022.
Replacement of Interbank Offered Rates (IBORs) Including the London InterBank Offered Rate (“LIBOR”):
On July 1, 2023, the publication of all LIBOR settings as representative rates has ceased. The Financial Conduct Authority has allowed the publication and use of synthetic rates for certain U.S. dollar (“USD”) LIBOR settings in legal USD LIBOR-based contracts through September 2024. Since January 1, 2022, our new investments are generally indexed to SOFR. As of June 30, 2023, we have facilitated an orderly transition of a majority of our investments and our Revolving Credit Facilities (as defined below) to SOFR or to alternative risk-free reference rates. Any remaining USD LIBOR-based investments will have transitioned subsequent to June 30, 2023 or have fallback provisions that will be utilized.
KEY COMPONENTS OF OPERATIONS
Investments
Our level of investment activity can and does vary substantially from period to period depending on many factors, including the amount of debt and equity capital available to middle-market companies, the level of merger and acquisition activity for such companies, the general economic environment, the amount of capital we have available to us and the competitive environment for the type of investments we make.
As a BDC, we may not acquire any assets other than “qualifying assets” specified in the Investment Company Act, unless, at the time the acquisition is made, at least 70% of our total assets are qualifying assets (with certain limited exceptions). Qualifying assets include investments in “eligible portfolio companies.” Pursuant to rules adopted by the Securities and Exchange Commission (the “SEC”), “eligible portfolio companies” include certain companies that do not have any securities listed on a national securities exchange and public companies whose securities are listed on a national securities exchange but whose market capitalization is less than $250 million.
Revenues
We generate revenues in the form of interest income on debt investments and, to a lesser extent, capital gains and distributions, if any, on equity securities that we may acquire in portfolio companies. Some of our investments may provide for deferred interest payments or payment-in-kind (“PIK”) income. The principal amount of the debt investments and any accrued but unpaid interest generally becomes due at the maturity date.
We generate revenues primarily through receipt of interest income from the investments we hold. In addition, we may generate revenue in the form of commitment, origination, structuring, syndication, exit fees or diligence fees, fees for providing managerial assistance and consulting fees. Portfolio company fees (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) will be paid to us, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, we receive our allocable portion of such fees when invested in the same portfolio company as other client accounts managed by our Investment Adviser (collectively with the Company, the “Accounts”), which other Accounts could receive their allocable portion of such fee. We do not expect to receive material fee income as it is not our principal investment strategy. We record contractual prepayment premiums on loans and debt securities as interest income.
45
Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any.
Expenses
Our primary operating expenses include the payment of the management fee (the “Management Fee”) and the incentive fee (the “Incentive Fee”) to our Investment Adviser, legal and professional fees, interest and other debt expenses and other operating and overhead related expenses. The Management Fee and Incentive Fee compensate our Investment Adviser for its work in identifying, evaluating, negotiating, closing and monitoring our investments. Pursuant to an investment advisory agreement with the Investment Adviser (the “Investment Advisory Agreement”), Company expenses borne by us in the ordinary course on an annual basis (excluding Management Fees, Incentive Fees, organizational and start-up expenses and leverage-related expenses) will not exceed an amount equal to 0.5% of the aggregate amount of commitments to us by holders of common units of our limited liability company interests (“Units”); provided, however, that expenses incurred outside of the ordinary course, including litigation and similar expenses, are not subject to such cap. We bear all other expenses of our operations and transactions in accordance with our Investment Advisory Agreement and administration agreement (the “Administration Agreement”), including:
our operational and organizational expenses;
fees and expenses, including travel expenses, incurred by our Investment Adviser or payable to third parties related to our investments, including, among others, professional fees (including the fees and expenses of consultants and experts) and fees and expenses from evaluating, monitoring, researching and performing due diligence on investments and prospective investments;
interest, fees and other expenses payable on indebtedness for borrowed money (including through the issuance of notes and other evidence of indebtedness), other indebtedness, financings or extensions of credit, if any, incurred by us;
fees and expenses incurred by us in connection with membership in investment company organizations;
brokers’ commissions;
fees and expenses associated with calculating our NAV (including expenses of any independent valuation firm);
legal, auditing or accounting expenses;
taxes or governmental fees;
the fees and expenses of our administrator, transfer agent, or sub-transfer agent;
the cost of preparing unit certificates or any other expenses, including clerical expenses of issue or repurchase of our Units;
the expenses of and fees for registering or qualifying our Units for sale and of maintaining our registration or qualifying and registering us as a broker or a dealer;
the fees and expenses of our directors who are not affiliated with our Investment Adviser;
the cost of preparing and distributing reports, proxy statements and notices to our Unitholders, the SEC and other regulatory authorities;
costs of holding Unitholder meetings;
the fees or disbursements of custodians of our assets, including expenses incurred in the performance of any obligations enumerated by limited liability company agreement or other organizational documents insofar as they govern agreements with any such custodian;
insurance premiums; and
costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or dispute in connection with our business and the amount of any judgment or settlement paid in connection therewith, or the enforcement of our rights against any person and indemnification or contribution expenses payable by us to any person and other extraordinary expenses not incurred in the ordinary course of our business.
Our Investment Adviser will not be required to pay expenses of activities which are primarily intended to result in sales of Units.
We expect our general and administrative expenses to be relatively stable or decline as a percentage of total assets during periods of asset growth and to increase during periods of asset declines.
Leverage
The revolving credit facility with JPMorgan Chase Bank, National Association (as amended, restated, supplemented or otherwise modified from time to time, the “JPM Revolving Credit Facility”), and the revolving credit facility between the Company and MUFG Bank Ltd. (the “MUFG Revolving Credit Facility” and together with the JPM Revolving Credit Facility, the “Revolving Credit Facilities”) allow us to borrow money and lever our investment portfolio, subject to the limitations of the Investment Company Act, with the objective of increasing our yield. This is known as “leverage” and could increase or decrease returns to our Unitholders. The use of leverage involves significant risks. As a BDC, with certain limited exceptions, we are only permitted to borrow amounts such that our asset coverage ratio, as defined in the Investment Company Act, equals at least 150% after such borrowing (if certain requirements are met). As of June 30, 2023 and December 31, 2022, our asset coverage ratio based on the aggregate amount outstanding of our senior securities (which includes the Revolving Credit Facilities) was 184% and 185%. In accordance with applicable SEC staff guidance and interpretations, when we engage in such transactions, instead of maintaining an asset coverage ratio of at least 200% (or 150% if the above referenced requirements are met), we may segregate or earmark liquid assets, or enter into an offsetting position, in an amount at least equal to our exposure, on a mark-to-market basis, to such transactions (as calculated pursuant to requirements of the SEC). Short-term credits necessary for the settlement of securities transactions and arrangements with respect to securities lending will not be considered borrowings for these purposes. Practices and investments that may involve leverage but are not considered borrowings are not subject to the Investment Company Act’s asset coverage requirement, and we will not otherwise
46
segregate or earmark liquid assets or enter into offsetting positions for such transactions. The amount of leverage that we employ will depend on the assessment by our Investment Adviser and our board of directors (the “Board of Directors” or the “Board”) of market conditions and other factors at the time of any proposed borrowing.
PORTFOLIO AND INVESTMENT ACTIVITY
Our portfolio (excluding investments in money market funds, if any) consisted of the following:
|
|
As of |
|||||||||||||||
|
|
June 30, 2023 |
|
|
December 31, 2022 |
||||||||||||
|
|
Amortized Cost |
|
|
Fair Value |
|
|
Amortized Cost |
|
|
Fair Value |
|
|
||||
|
|
($ in millions) |
|
|
|||||||||||||
First Lien/Senior Secured Debt |
|
$ |
2,626.49 |
|
|
$ |
2,579.59 |
|
|
$ |
2,610.79 |
|
|
$ |
2,561.72 |
|
|
First Lien/Last-Out Unitranche |
|
|
19.53 |
|
|
|
19.33 |
|
|
|
18.41 |
|
|
|
18.24 |
|
|
Second Lien/Senior Secured Debt |
|
|
15.39 |
|
|
|
8.48 |
|
|
|
15.38 |
|
|
|
9.25 |
|
|
Unsecured Debt |
|
|
6.57 |
|
|
|
6.56 |
|
|
|
5.59 |
|
|
|
5.55 |
|
|
Preferred Stock |
|
|
37.90 |
|
|
|
44.42 |
|
|
|
39.73 |
|
|
|
40.99 |
|
|
Common Stock |
|
|
11.00 |
|
|
|
13.44 |
|
|
|
11.00 |
|
|
|
11.90 |
|
|
Warrants |
|
|
1.67 |
|
|
|
0.40 |
|
|
|
1.67 |
|
|
|
0.55 |
|
|
Total investments |
|
$ |
2,718.55 |
|
|
$ |
2,672.22 |
|
|
$ |
2,702.57 |
|
|
$ |
2,648.20 |
|
|
The weighted average yield of our portfolio by asset type (excluding investments in money market funds, if any), at amortized cost and fair value, was as follows:
|
|
As of |
|
|||||||||||||
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||
|
|
Amortized |
|
|
Fair Value |
|
|
Amortized |
|
|
Fair Value |
|
||||
Weighted Average Yield(1) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
First Lien/Senior Secured Debt(2) |
|
|
12.1 |
% |
|
|
12.8 |
% |
|
|
11.1 |
% |
|
|
11.6 |
% |
First Lien/Last-Out Unitranche(2)(3) |
|
|
14.2 |
|
|
|
14.3 |
|
|
|
13.2 |
|
|
|
13.2 |
|
Second Lien/Senior Secured Debt(2) |
|
|
13.9 |
|
|
|
49.2 |
|
|
|
13.1 |
|
|
|
37.7 |
|
Unsecured Debt(2) |
|
|
17.6 |
|
|
|
17.6 |
|
|
|
17.1 |
|
|
|
17.2 |
|
Preferred Stock(4) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Common Stock(4) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Warrants(4) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total Portfolio |
|
|
11.9 |
% |
|
|
12.7 |
% |
|
|
10.9 |
% |
|
|
11.5 |
% |
As of June 30, 2023, the total portfolio weighted average yield measured at amortized cost and fair value was 11.9% and 12.7%, as compared to 10.9% and 11.5% as of December 31, 2022. The increase in the weighted average yield at amortized cost and fair value was primarily driven by rising interest rates and an increase in market volatility. Within the Second Lien/Senior Secured Debt, the increase in weighted average yield at fair value was primarily driven by the financial underperformance of Zep, Inc.
The following table presents certain selected information regarding our investment portfolio (excluding investments in money market funds, if any):
|
|
As of |
|
||||||
|
|
June 30, |
|
December 31, |
|
||||
Number of portfolio companies |
|
|
|
91 |
|
|
|
92 |
|
Percentage of performing debt bearing a floating rate(1) |
|
|
|
100.0 |
% |
|
|
100.0 |
% |
Percentage of performing debt bearing a fixed rate(1)(2) |
|
|
—% |
|
|
—% |
|
||
Weighted average leverage (net debt/EBITDA)(3) |
|
|
5.9x |
|
|
6.0x |
|
||
Weighted average interest coverage(3) |
|
|
1.6x |
|
|
1.7x |
|
||
Median EBITDA(3) |
|
$ |
48.49 million |
|
$ |
45.10 million |
|
(1) |
Measured on a fair value basis. Excludes investments, if any, placed on non-accrual. |
(2) |
Includes income producing preferred stock investments, if applicable. |
(3) |
For a particular portfolio company, we calculate the level of contractual indebtedness net of cash (“net debt”) owed by the portfolio company and compare that amount to measures of cash flow available to service the net debt. To calculate net debt, we include debt that is both senior and pari passu to the tranche of debt owned by us but exclude debt that is legally and contractually subordinated in ranking to the debt owned by us. We believe this calculation method assists in describing the risk of our portfolio investments, as it takes into consideration contractual rights of repayment of the tranche of debt owned by us relative to other senior and junior creditors of a portfolio company. We typically calculate cash flow available for debt service at a portfolio company by taking EBITDA for the |
47
|
trailing twelve month period. Weighted average net debt to EBITDA is weighted based on the fair value of our debt investments, excluding investments where net debt to EBITDA may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue. |
|
For a particular portfolio company, we also calculate the level of contractual interest expense owed by the portfolio company and compare that amount to EBITDA (“interest coverage ratio”). We believe this calculation method assists in describing the risk of our portfolio investments, as it takes into consideration contractual interest obligations of the portfolio company. Weighted average interest coverage is weighted based on the fair value of our performing debt investments, excluding investments where interest coverage may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue. |
|
Median EBITDA is based on our debt investments, excluding investments where net debt to EBITDA may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue. |
|
Portfolio company statistics are derived from the most recently available financial statements of each portfolio company as of the reported end date. Statistics of the portfolio companies have not been independently verified by us and may reflect a normalized or adjusted amount. |
|
As of June 30, 2023 and December 31, 2022, investments where net debt to EBITDA may not be the appropriate measure of credit risk represented 39.1% and 38.2% of total debt investments at fair value. |
Our Investment Adviser monitors on an ongoing basis, the financial trends of each portfolio company to determine if it is meeting its respective business plan and to assess the appropriate course of action for each company. Our Investment Adviser has several methods of evaluating and monitoring the performance and fair value of our investments, which may include the following: (i) assessment of success in adhering to the portfolio company’s business plan and compliance with covenants; (ii) periodic or regular contact with portfolio company management and, if appropriate, the financial or strategic sponsor to discuss financial position, requirements and accomplishments; (iii) comparisons to our other portfolio companies in the industry, if any; (iv) attendance at and participation in Board meetings or presentations by portfolio companies; and (v) review of monthly and quarterly financial statements and financial projections of portfolio companies.
As part of the monitoring process, our Investment Adviser also employs an investment rating system to categorize our investments. In addition to various risk management and monitoring tools, our Investment Adviser grades the credit risk of all investments on a scale of 1 to 4 no less frequently than quarterly. This system is intended primarily to reflect the underlying risk of a portfolio investment relative to our initial cost basis in respect of such portfolio investment (i.e., at the time of origination or acquisition), although it may also take into account in certain circumstances the performance of the portfolio company’s business, the collateral coverage of the investment and other relevant factors. The grading system for our investments is as follows:
Grade 1 investments involve the least amount of risk to our initial cost basis. The trends and risk factors for this investment since origination or acquisition are generally favorable, which may include the performance of the portfolio company or a potential exit;
Grade 2 investments involve a level of risk to our initial cost basis that is similar to the risk to our initial cost basis at the time of origination or acquisition. This portfolio company is generally performing as expected and the risk factors to our ability to ultimately recoup the cost of our investment are neutral to favorable. All investments or acquired investments in new portfolio companies are initially assessed a grade of 2;
Grade 3 investments indicate that the risk to our ability to recoup the initial cost basis of such investment has increased materially since origination or acquisition, including as a result of factors such as declining performance and non-compliance with debt covenants; however, payments are generally not more than 120 days past due; and
Grade 4 investments indicate that the risk to our ability to recoup the initial cost basis of such investment has substantially increased since origination or acquisition, and the portfolio company likely has materially declining performance. For debt investments with an investment grade of 4, in most cases, most or all of the debt covenants are out of compliance and payments are substantially delinquent. For investments graded 4, it is anticipated that we will not recoup our initial cost basis and may realize a substantial loss of our initial cost basis upon exit.
Our Investment Adviser grades the investments in our portfolio at least each quarter and it is possible that the grade of a portfolio investment may be reduced or increased over time. For investments with a grade of 3 or 4, our Investment Adviser enhances its level of scrutiny over the monitoring of such portfolio company. The following table shows the composition of our portfolio (excluding investments in money market funds, if any) on the 1 to 4 grading scale:
|
|
As of |
|
|||||||||||||
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||
Investment Performance Rating |
|
Fair Value |
|
|
Percentage of |
|
|
Fair Value |
|
|
Percentage of |
|
||||
|
|
(in millions) |
|
|
|
|
|
(in millions) |
|
|
|
|
||||
Grade 1 |
|
$ |
133.69 |
|
|
|
5.0 |
% |
|
$ |
— |
|
|
|
— |
|
Grade 2 |
|
|
2,451.40 |
|
|
|
91.8 |
|
|
|
2,587.88 |
|
|
|
97.7 |
|
Grade 3 |
|
|
81.05 |
|
|
|
3.0 |
|
|
|
25.77 |
|
|
|
1.0 |
|
Grade 4 |
|
|
6.08 |
|
|
|
0.2 |
|
|
|
34.55 |
|
|
|
1.3 |
|
Total Investments |
|
$ |
2,672.22 |
|
|
|
100.0 |
% |
|
$ |
2,648.20 |
|
|
|
100.0 |
% |
48
The increase in investments with a grade 1 investment performance rating was driven by investments with an aggregate fair value of $133.69 million being upgraded from a grade 2 investment performance rating due to potential exits. The increase in investments with a grade 3 investment performance rating was primarily driven by investments with aggregate fair value of $55.19 million being downgraded from a grade 2 investment performance rating due to financial underperformance. The decrease in investments with a grade 4 investment performance rating was primarily driven by the restructuring of an investment with a fair value of $34.55 million.
The following table shows the amortized cost of our performing and non-accrual investments (excluding investments in money market funds, if any):
|
|
As of |
|
|||||||||||||
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||
|
|
Amortized Cost |
|
|
Percentage of |
|
|
Amortized Cost |
|
|
Percentage of |
|
||||
|
|
(in millions) |
|
|
|
|
|
(in millions) |
|
|
|
|
||||
Performing |
|
$ |
2,712.47 |
|
|
|
99.8 |
% |
|
$ |
2,660.95 |
|
|
|
98.5 |
% |
Non-accrual |
|
|
6.08 |
|
|
|
0.2 |
|
|
|
41.62 |
|
|
|
1.5 |
|
Total Investments |
|
$ |
2,718.55 |
|
|
|
100.0 |
% |
|
$ |
2,702.57 |
|
|
|
100.0 |
% |
Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to the contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. We may make exceptions to this treatment if the loan has sufficient collateral value and is in the process of collection.
The following table shows our investment activity by investment type(1):
|
|
For the Three Months Ended |
|
|||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
||
|
|
($ in millions) |
|
|||||
Amount of investments committed at cost: |
|
|
|
|
|
|
||
First Lien/Senior Secured Debt |
|
$ |
52.54 |
|
|
$ |
317.61 |
|
Unsecured Debt |
|
|
— |
|
|
|
5.58 |
|
Common Stock |
|
|
— |
|
|
|
1.45 |
|
Total |
|
$ |
52.54 |
|
|
$ |
324.64 |
|
Proceeds from investments sold or repaid: |
|
|
|
|
|
|
||
First Lien/Senior Secured Debt |
|
$ |
16.81 |
|
|
$ |
41.13 |
|
Total |
|
$ |
16.81 |
|
|
$ |
41.13 |
|
Net increase (decrease) in portfolio |
|
$ |
35.73 |
|
|
$ |
283.51 |
|
Number of new portfolio companies with new investment commitments |
|
|
— |
|
|
|
7 |
|
Total new investment commitment amount in new portfolio companies |
|
$ |
— |
|
|
$ |
196.16 |
|
Average new investment commitment amount in new portfolio companies |
|
$ |
— |
|
|
$ |
28.02 |
|
Number of existing portfolio companies with new investment commitments |
|
|
3 |
|
|
|
9 |
|
Total new investment commitment amount in existing portfolio companies |
|
$ |
52.54 |
|
|
$ |
128.48 |
|
Weighted average remaining term for new investment commitments (in years)(2) |
|
|
2.2 |
|
|
|
5.6 |
|
Percentage of new debt investment commitments at floating interest rates |
|
|
100.0 |
% |
|
|
100.0 |
% |
Percentage of new debt investment commitments at fixed interest rates(3) |
|
|
— |
% |
|
|
— |
% |
Weighted average yield on new debt and income producing investment commitments(4) |
|
|
13.8 |
% |
|
|
8.3 |
% |
Weighted average yield on new investment commitments(5) |
|
|
13.8 |
% |
|
|
8.2 |
% |
Weighted average yield on debt and income producing investments sold or repaid(6) |
|
|
10.9 |
% |
|
|
11.3 |
% |
Weighted average yield on investments sold or repaid(7) |
|
|
10.9 |
% |
|
|
2.2 |
% |
49
RESULTS OF OPERATIONS
Our operating results were as follows:
|
|
For the Three Months Ended |
|
|
For the Six Months Ended |
|
|||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
June 30, 2023 |
|
June 30, 2022 |
|
||||
|
|
($ in millions) |
|
||||||||||||
Total investment income |
|
$ |
83.07 |
|
|
$ |
50.89 |
|
|
$ |
161.24 |
|
$ |
97.76 |
|
Net expenses |
|
|
(43.32 |
) |
|
|
(22.32 |
) |
|
|
(79.67 |
) |
|
(43.31 |
) |
Net investment income |
|
|
39.75 |
|
|
|
28.57 |
|
|
|
81.57 |
|
|
54.45 |
|
Net realized gain (loss) on investments |
|
|
(37.36 |
) |
|
|
(5.33 |
) |
|
|
(37.35 |
) |
|
(5.33 |
) |
Net unrealized appreciation (depreciation) on investments |
|
|
41.36 |
|
|
|
(11.01 |
) |
|
|
8.05 |
|
|
(14.53 |
) |
Net realized and unrealized gains (losses) on foreign currency translations and other transactions |
|
|
(0.59 |
) |
|
|
1.03 |
|
|
|
(0.98 |
) |
|
1.45 |
|
Income tax (provision) benefit, realized and unrealized gain/loss |
|
|
(0.35 |
) |
|
|
0.07 |
|
|
|
(0.76 |
) |
|
(0.09 |
) |
Net increase in members’ capital from operations |
|
$ |
42.81 |
|
|
$ |
13.33 |
|
|
$ |
50.53 |
|
$ |
35.95 |
|
Net increase in members’ capital from operations can vary from period to period as a result of various factors, including acquisitions, the level of new investment commitments, the recognition of realized gains and losses and changes in unrealized appreciation and depreciation in the investment portfolio.
Investment Income
Our investment income was as follows:
|
|
For the Three Months Ended |
|
|
For the Six Months Ended |
|
|||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
June 30, 2023 |
|
June 30, 2022 |
|
||||
|
|
($ in millions) |
|
||||||||||||
Interest income |
|
$ |
73.54 |
|
|
$ |
46.51 |
|
|
$ |
144.01 |
|
$ |
89.64 |
|
Payment-in-kind income |
|
|
6.91 |
|
|
|
3.53 |
|
|
|
12.52 |
|
|
6.42 |
|
Dividend income |
|
|
1.97 |
|
|
|
— |
|
|
|
3.13 |
|
|
— |
|
Other income |
|
|
0.65 |
|
|
|
0.85 |
|
|
|
1.58 |
|
|
1.70 |
|
Total investment income |
|
$ |
83.07 |
|
|
$ |
50.89 |
|
|
$ |
161.24 |
|
$ |
97.76 |
|
In the table above:
50
Expenses
Our expenses were as follows:
|
|
For the Three Months Ended |
|
|
For the Six Months Ended |
|
|||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
June 30, 2023 |
|
June 30, 2022 |
|
||||
|
|
($ in millions) |
|
||||||||||||
Interest and other debt expenses |
|
$ |
29.97 |
|
|
$ |
14.99 |
|
|
$ |
59.04 |
|
$ |
27.14 |
|
Management fees |
|
|
4.68 |
|
|
|
3.95 |
|
|
|
9.32 |
|
|
7.71 |
|
Incentive fees |
|
|
7.55 |
|
|
|
2.35 |
|
|
|
8.92 |
|
|
6.35 |
|
Professional fees |
|
|
0.38 |
|
|
|
0.32 |
|
|
|
0.86 |
|
|
0.73 |
|
Directors’ fees |
|
|
0.07 |
|
|
|
0.07 |
|
|
|
0.14 |
|
|
0.14 |
|
Other general and administrative expenses |
|
|
0.67 |
|
|
|
0.64 |
|
|
|
1.39 |
|
|
1.24 |
|
Total expenses |
|
$ |
43.32 |
|
|
$ |
22.32 |
|
|
$ |
79.67 |
|
$ |
43.31 |
|
In the table above:
Net Realized Gains (Losses) and Net Change in Unrealized Appreciation (Depreciation) on Investments
The realized gains and losses on fully exited and partially exited investments in portfolio companies consisted of the following:
|
|
For the Three Months Ended |
|
|
For the Six Months Ended |
|
||||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
June 30, |
|
|
June 30, 2022 |
|
||||
|
|
(in millions) |
|
|||||||||||||
MedeAnalytics, Inc. |
|
$ |
(37.37 |
) |
|
$ |
— |
|
|
$ |
(37.37 |
) |
|
$ |
— |
|
Convene 237 Park Avenue, LLC (dba Convene) |
|
|
— |
|
|
|
(5.33 |
) |
|
|
— |
|
|
|
(5.33 |
) |
Other, net |
|
|
0.01 |
|
|
|
— |
|
|
|
0.02 |
|
|
|
— |
|
Net realized gain (loss) on investments |
|
$ |
(37.36 |
) |
|
$ |
(5.33 |
) |
|
$ |
(37.35 |
) |
|
$ |
(5.33 |
) |
For the three and six months ended June 30, 2023, net realized losses were primarily driven by the restructuring of our first lien debt investment in MedeAnalytics Inc. which resulted in a realized loss of $37.37 million. For the three and six months ended June 30, 2022, net realized losses were primarily driven by the full exit of our first lien debt investments in Convene 237 Park Avenue, LLC (dba Convene) in April 2022, which resulted in a realized loss of $5.33 million.
Any changes in fair value are recorded as a change in unrealized appreciation (depreciation) on investments. For further details on the valuation process, refer to Note 2 “Significant Accounting Policies—Investments” in our consolidated financial statements. Net change in unrealized appreciation (depreciation) on investments were as follows:
|
|
For the Three Months Ended |
|
|
For the Six Months Ended |
|
||||||||||
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
||||
|
|
($ in millions) |
|
|||||||||||||
Unrealized appreciation |
|
$ |
46.84 |
|
|
$ |
7.32 |
|
|
$ |
19.40 |
|
|
$ |
10.14 |
|
Unrealized depreciation |
|
|
(5.48 |
) |
|
|
(18.33 |
) |
|
|
(11.35 |
) |
|
|
(24.67 |
) |
Net change in unrealized appreciation (depreciation) on investments |
|
$ |
41.36 |
|
|
$ |
(11.01 |
) |
|
$ |
8.05 |
|
|
$ |
(14.53 |
) |
51
The net change in unrealized appreciation (depreciation) on investments consisted of the following:
|
|
For the Three |
|
For the Six |
|
||
|
|
($ in millions) |
|
||||
Portfolio Company: |
|
|
|
|
|
||
MedeAnalytics, Inc. |
|
$ |
37.37 |
|
$ |
8.89 |
|
Other, net(1) |
|
|
3.32 |
|
|
0.86 |
|
GovDelivery Holdings, LLC (dba Granicus, Inc.) |
|
|
1.42 |
|
|
0.58 |
|
CloudBees, Inc. |
|
|
0.55 |
|
|
1.07 |
|
Gainsight, Inc. |
|
|
0.52 |
|
|
0.45 |
|
MRI Software LLC |
|
|
0.48 |
|
|
0.25 |
|
Bigchange Group Limited |
|
|
0.40 |
|
|
0.65 |
|
iCIMS, Inc. |
|
|
0.11 |
|
|
(0.96 |
) |
Broadway Parent, LLC |
|
|
0.09 |
|
|
1.10 |
|
Zep Inc. |
|
|
— |
|
|
(0.78 |
) |
Experity, Inc. |
|
|
(0.37 |
) |
|
(0.75 |
) |
Whitewater Holding Company LLC |
|
|
(0.42 |
) |
|
(0.42 |
) |
Thrasio, LLC |
|
|
(0.56 |
) |
|
(0.22 |
) |
Zodiac Intermediate, LLC (dba Zipari) |
|
|
(0.60 |
) |
|
(1.72 |
) |
Premier Care Dental Management, LLC |
|
|
(0.95 |
) |
|
(0.95 |
) |
Total |
|
$ |
41.36 |
|
$ |
8.05 |
|
Net change in unrealized appreciation (depreciation) in our investments for the three months ended June 30, 2023 was primarily driven by the reversal of unrealized depreciation in connection with the aforementioned restructuring of our first lien debt investments in MedeAnalytics, Inc.
|
|
For the Three |
|
For the Six |
|
||
|
|
($ in millions) |
|
||||
Portfolio Company: |
|
|
|
|
|
||
Convene 237 Park Avenue, LLC (dba Convene) |
|
$ |
6.02 |
|
$ |
7.59 |
|
Chronicle Bidco Inc. (dba Lexitas) |
|
|
0.58 |
|
|
0.56 |
|
Total Vision LLC |
|
|
0.18 |
|
|
(0.17 |
) |
Diligent Corporation |
|
|
0.08 |
|
|
0.63 |
|
Viant Medical Holdings, Inc. |
|
|
0.08 |
|
|
(0.22 |
) |
WhiteWater Holding Company LLC |
|
|
(0.01 |
) |
|
0.10 |
|
Zarya Intermediate, LLC (dba iOFFICE) |
|
|
(0.37 |
) |
|
0.70 |
|
MedeAnalytics, Inc. |
|
|
(0.38 |
) |
|
(3.17 |
) |
Zep Inc. |
|
|
(0.77 |
) |
|
(1.49 |
) |
Purfoods, LLC |
|
|
(0.81 |
) |
|
(0.85 |
) |
Gainsight, Inc. |
|
|
(0.91 |
) |
|
(0.98 |
) |
Bigchange Group Limited |
|
|
(1.03 |
) |
|
(1.49 |
) |
CloudBees, Inc. |
|
|
(2.29 |
) |
|
(1.52 |
) |
Other, net(1) |
|
|
(11.38 |
) |
|
(14.22 |
) |
Total |
|
$ |
(11.01 |
) |
$ |
(14.53 |
) |
Net change in unrealized appreciation (depreciation) in our investments for the three and six months ended June 30, 2022 was primarily driven by increased market volatility and widening credit spreads, partially offset by the reversal of unrealized depreciation in connection with the aforementioned exit of our first lien debt investments in Convene 237 Park Avenue, LLC (dba Convene).
FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES
The primary use of existing funds and any funds raised in the future is expected to be for our investments in portfolio companies, cash distributions to our Unitholders or for other general corporate purposes, including paying for operating expenses or debt service to the extent we borrow or issue senior securities.
We expect to generate cash primarily from the net proceeds of any future offerings of securities, drawdowns of capital commitments, future borrowings and cash flows from operations. To the extent we determine that additional capital would allow us to take advantage of additional investment opportunities, if the market for debt financing presents attractively priced debt financing opportunities, or if our Board of Directors otherwise determines that leveraging our portfolio would be in our best interest and the best interests of our Unitholders, we may enter into credit facilities in addition to our Revolving Credit Facilities, or issue other senior securities. We would expect any such credit facilities may
52
be secured by certain of our assets and may contain advance rates based upon pledged collateral. The pricing and other terms of any such facilities would depend upon market conditions when we enter into any such facilities as well as the performance of our business, among other factors. As a BDC, with certain limited exceptions, we are only permitted to borrow amounts such that our asset coverage ratio, as defined in the Investment Company Act, is at least 150% after such borrowing (if certain requirements are met). See “—Key Components of Operations—Leverage.” As of June 30, 2023 and December 31, 2022, our asset coverage ratio based on the aggregate amount outstanding of our senior securities (which includes the Revolving Credit Facilities) was 184% and 185%. We may also refinance or repay any of our indebtedness at any time based on our financial condition and market conditions.
We may enter into investment commitments through signed commitment letters, that may ultimately become investment transactions in the future. We regularly evaluate and carefully consider our unfunded commitments using GSAM’s proprietary risk management framework for the purpose of planning our capital resources and ongoing liquidity, including our financial leverage.
We began accepting subscription agreements (“Subscription Agreements”) from investors acquiring common Units in our private offering. Under the terms of the Subscription Agreements, investors are required to make capital contributions up to the amount of their undrawn capital commitment to purchase Units each time we deliver a drawdown notice. As of the dates indicated, we had aggregate capital commitments and undrawn capital commitments from investors as follows:
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||||||||||||||||||
|
|
Capital |
|
|
Unfunded |
|
|
% of Capital |
|
|
Capital |
|
|
Unfunded |
|
|
% of Capital |
|
||||||
Common Units |
|
$ |
1,475.81 |
|
|
$ |
132.82 |
|
|
|
91 |
% |
|
$ |
1,475.81 |
|
|
$ |
147.58 |
|
|
|
90 |
% |
The following table summarizes the total Units issued and proceeds related to capital drawdowns:
Unit Issue Date |
|
Units Issued |
|
|
Proceeds |
|
||
For the Six Months Ended June 30, 2023 |
|
|
|
|
|
|
||
May 30, 2023 |
|
|
160,166 |
|
|
$ |
14.76 |
|
Total capital drawdowns |
|
|
160,166 |
|
|
$ |
14.76 |
|
For the Six Months Ended June 30, 2022 |
|
|
|
|
|
|
||
June 21, 2022 |
|
|
1,069,872 |
|
|
$ |
103.31 |
|
Total capital drawdowns |
|
|
1,069,872 |
|
|
$ |
103.31 |
|
Contractual Obligations
We have entered into certain contracts under which we have future commitments. Payments under the Investment Advisory Agreement, pursuant to which GSAM has agreed to serve as our Investment Adviser, are equal to (1) a percentage of our average NAV and (2) an Incentive Fee based on investment performance. Under the Administration Agreement, pursuant to which State Street Bank and Trust Company (the “Administrator”) has agreed to furnish us with the administrative services necessary to conduct our day-to-day operations, we pay our Administrator such fees as may be agreed between us and our Administrator that we determine are commercially reasonable in our sole discretion. Generally, either party may terminate the Investment Advisory Agreement without penalty on at least 60 days’ written notice to the other party. Either party may terminate the Administration Agreement without penalty upon at least 30 days’ written notice to the other party. The following table shows our contractual obligations as of June 30, 2023:
|
|
Payments Due by Period ($ in millions) |
|
|||||||||||||||||
|
|
Total |
|
|
Less Than |
|
|
1 – 3 |
|
|
3 – 5 |
|
|
More Than |
|
|||||
MUFG Revolving Credit Facility |
|
$ |
35.50 |
|
|
$ |
35.50 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
JPM Revolving Credit Facility(1) |
|
$ |
1,466.19 |
|
|
$ |
— |
|
|
$ |
1,466.19 |
|
|
$ |
— |
|
|
$ |
— |
|
MUFG Revolving Credit Facility
We entered into the MUFG Revolving Credit Facility on May 7, 2019 with MUFG Bank Ltd., as administrative agent (the “Administrative Agent”), lead arranger, letter of credit issuer and a lender, and the other lenders from time to time party thereto. We amended the MUFG Revolving Credit Facility on numerous occasions between July 31, 2019 and May 4, 2023.
Subject to availability under the “Borrowing Base,” the maximum principal amount of the MUFG Revolving Credit Facility was $50.05 million as of June 30, 2023. The Borrowing Base is calculated based on the unfunded capital commitments of the investors meeting various eligibility requirements (subject to investor concentration limits) multiplied by specified advance rates. The stated maturity date of the MUFG Revolving Credit Facility is November 3, 2023, which may be extended by us exercising our committed 6-month extension option.
53
Under the MUFG Revolving Credit Facility, we have the ability to elect, for loans denominated in U.S. Dollars, either Term SOFR with a one-, three- or, if available, six-month tenor or the alternative base rate at the time of draw-down (and with respect to loans denominated in non-U.S. Dollar currencies, the applicable benchmark specified in the MUFG Revolving Credit Facility), and loans denominated in U.S. Dollars may be converted from one rate to another at any time, subject to certain conditions. The interest rate on obligations under the MUFG Revolving Credit Facility is (A) Term SOFR plus a credit spread adjustment for the applicable tenor (or other listed offered rate, depending upon the currency of borrowing) plus 2.75% per annum or (B) an alternative base rate (the greatest of the prime rate set by MUFG Bank, Ltd., the federal funds rate plus 0.50%, and Term SOFR with a one-month tenor plus 1.00% (“ABR”)) plus 1.75% per annum. We pay a 0.35% annualized fee on a quarterly basis on committed but undrawn amounts under the MUFG Revolving Credit Facility.
For further details, see Note 6 “Debt – MUFG Revolving Credit Facility” to our consolidated financial statements included in this report.
JPM Revolving Credit Facility
On September 24, 2020, Goldman Sachs Private Middle Market Credit II SPV II LLC (“SPV”) entered into the JPM Revolving Credit Facility. JPMorgan Chase Bank, National Association (“JPM”) serves as administrative agent, U.S. Bank Trust Company, National Association serves as collateral agent and collateral administrator, U.S. Bank National Association serves as securities intermediary and the Company serves as portfolio manager under the JPM Revolving Credit Facility. The Company amended the JPM Revolving Credit Facility on numerous occasions between February 12, 2021 and February 15, 2022.
Borrowings under the JPM Revolving Credit Facility bear interest (at SPV’s election) at a per annum rate equal to (x) Term SOFR (or the applicable benchmark for loans denominated in non-U.S. Dollar currencies) plus a credit spread adjustment of 0.15% (or other listed offered rate, depending upon the currency of borrowing) in effect and, (y) to the extent Term SOFR is unavailable, a rate per annum equal to the greater of (i) the prime rate of JPM in effect on such day and (ii) the Federal Funds Effective Rate in effect on such day plus 0.50%, in each case, plus the applicable margin. The applicable margin is 2.75% per annum, after giving effect to the amendment dated February 15, 2022. SPV will also pay a commitment fee of 0.75% per annum on the average daily unused amount of the financing commitments until the last day of the reinvestment period (as defined in the JPM Revolving Credit Facility). The JPM Revolving Credit Facility is a multicurrency facility. As of June 30, 2023, the total commitments under the JPM Revolving Credit Facility were $1,650.00 million. The JPM Revolving Credit Facility also has an accordion feature, subject to the satisfaction of various conditions, which could bring total commitments under the JPM Revolving Credit Facility to $2,000.00 million. All amounts outstanding under the JPM Revolving Credit Facility must be repaid by the fifth anniversary of the JPM Revolving Credit Facility, subject to a six-month extension of the maturity date with the consent of the administrative agent at that time.
SPV’s obligations to the lenders under the JPM Revolving Credit Facility are secured by a first priority security interest in all of SPV’s portfolio of investments and cash. The obligations of SPV under the JPM Revolving Credit Facility are non-recourse to us, and our exposure under the JPM Revolving Credit Facility is limited to the value of our investment in SPV.
For further details, see Note 6 “Debt – JPM Revolving Credit Facility” to our consolidated financial statements included in this report.
Off-Balance Sheet Arrangements
We may become a party to investment commitments and to financial instruments with off-balance sheet risk in the normal course of our business to fund investments and to meet the financial needs of our portfolio companies. These instruments may include commitments to extend credit and involve, to varying degrees, elements of liquidity and credit risk in excess of the amount recognized in the balance sheet. As of June 30, 2023, we believed that we had adequate financial resources to satisfy our unfunded commitments. Our unfunded commitments to provide funds to portfolio companies were as follows:
|
|
As of |
|
|||||
|
|
June 30, 2023 |
|
|
December 31, 2022 |
|
||
|
|
(in millions) |
|
|||||
Unfunded Commitments |
|
|
|
|
|
|
||
First Lien/Senior Secured Debt |
|
$ |
317.88 |
|
|
$ |
347.48 |
|
First Lien/Last-Out Unitranche |
|
|
4.89 |
|
|
|
5.97 |
|
Total |
|
$ |
322.77 |
|
|
$ |
353.45 |
|
HEDGING
Subject to applicable provisions of the Investment Company Act and applicable Commodity Futures Trading Commission (“CFTC”) regulations, we may enter into hedging transactions in a manner consistent with SEC guidance. To the extent that any of our loans are denominated in a currency other than U.S. dollars, we may enter into currency hedging contracts to reduce our exposure to fluctuations in currency exchange rates. We may also enter into interest rate hedging agreements. Such hedging activities, which will be subject to compliance with applicable legal requirements, may include the use of futures, options, swaps and forward contracts. Costs incurred in entering into such contracts or in settling them, if any, will be borne by us. Our Investment Adviser has claimed no-action relief from CFTC registration and regulation as a commodity pool operator pursuant to a CFTC Rule 4.5 with respect to our operations, with the result that we will be limited in our ability to use futures contracts or options on futures contracts or engage in swap transactions. Specifically, CFTC Rule 4.5 imposes strict
54
limitations on using such derivatives other than for hedging purposes, whereby the use of derivatives not used solely for hedging purposes is generally limited to situations where (i) the aggregate initial margin and premiums required to establish such positions does not exceed five percent of the liquidation value of our portfolio, after taking into account unrealized profits and unrealized losses on any such contracts it has entered into; or (ii) the aggregate net notional value of such derivatives does not exceed 100% of the liquidation value of our portfolio. Moreover, we anticipate entering into transactions involving such derivatives to a very limited extent solely for hedging purposes or otherwise within the limitations of CFTC Rule 4.5.
In August 2022, Rule 18f-4 under the Investment Company Act, regarding the ability of a BDC (or a RIC) to use derivatives and other transactions that create future payment or delivery obligations (including reverse repurchase agreements and similar financing transactions), became effective. Under the newly adopted rule, BDCs that make significant use of derivatives are subject to a value-at-risk leverage limit, a derivatives risk management program, testing requirements and requirements related to board reporting. These new requirements will apply unless the BDC qualifies as a “limited derivatives user,” as defined under the adopted rules. Under the new rule, a BDC may enter into an unfunded commitment agreement that is not a derivatives transaction, such as an agreement to provide financing to a portfolio company, if the BDC has, among other things, a reasonable belief, at the time it enters into such an agreement, that it will have sufficient cash and cash equivalents to meet its obligations with respect to all of its unfunded commitment agreements, in each case as it becomes due. Under the final rule, when we trade reverse repurchase agreements or similar financing transactions, including certain tender option bonds, we need to aggregate the amount of any other senior securities representing indebtedness (e.g., bank borrowings, if applicable) when calculating our asset coverage ratio. We currently operate as a “limited derivatives user” and these requirements may limit our ability to use derivatives and/or enter into certain other financial contracts.
CRITICAL ACCOUNTING POLICIES
Our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Changes in the economic environment, financial markets and any other parameters used in determining such estimates could cause actual results to differ materially.
For a description of our critical accounting policies, see Note 2 “Significant Accounting Policies” to our consolidated financial statements included in this report. We consider the most significant accounting policies to be those related to our Valuation of Portfolio Investments, Revenue Recognition, Non-Accrual Investments, Distribution Policy, and Income Taxes.
RECENT DEVELOPMENTS
On August 2, 2023, our Board of Directors approved and authorized an extension of our investment period for an additional twelve-month period ending on September 26, 2024.
55
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
We are subject to financial market risks, most significantly changes in interest rates. Interest rate sensitivity refers to the change in our earnings that may result from changes in the level of interest rates. Because we expect to fund a portion of our investments with borrowings, our net investment income is expected to be affected by the difference between the rate at which we invest and the rate at which we borrow. As a result, we can offer no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income.
As of June 30, 2023 and December 31, 2022, on a fair value basis, 100.0% and 100.0% of our performing debt investments bore interest at a floating rate. Our borrowings under the Revolving Credit Facilities bear interest at a floating rate.
We regularly measure our exposure to interest rate risk. We assess interest rate risk and manage our interest rate exposure on an ongoing basis by comparing our interest rate sensitive assets to our interest rate sensitive liabilities.
Based on our June 30, 2023 Consolidated Statements of Financial Condition, the following table shows the annual impact on net income of base rate changes in interest rates (considering interest rate floors for variable rate instruments) assuming no changes in our investment and borrowing structure:
As of June 30, 2023 |
|
Interest |
|
|
Interest |
|
|
Net |
|
|||
($ in millions) |
|
|
|
|
|
|
|
|
|
|||
Up 300 basis points |
|
$ |
64.90 |
|
|
$ |
(34.21 |
) |
|
$ |
30.69 |
|
Up 200 basis points |
|
|
43.27 |
|
|
|
(22.80 |
) |
|
|
20.47 |
|
Up 100 basis points |
|
|
21.63 |
|
|
|
(11.40 |
) |
|
|
10.23 |
|
Up 75 basis points |
|
|
16.23 |
|
|
|
(8.55 |
) |
|
|
7.68 |
|
Up 50 basis points |
|
|
10.82 |
|
|
|
(5.70 |
) |
|
|
5.12 |
|
Up 25 basis points |
|
|
5.41 |
|
|
|
(2.85 |
) |
|
|
2.56 |
|
Down 25 basis points |
|
|
(5.41 |
) |
|
|
2.85 |
|
|
|
(2.56 |
) |
Down 50 basis points |
|
|
(10.82 |
) |
|
|
5.70 |
|
|
|
(5.12 |
) |
Down 75 basis points |
|
|
(16.23 |
) |
|
|
8.55 |
|
|
|
(7.68 |
) |
Down 100 basis points |
|
|
(21.63 |
) |
|
|
11.40 |
|
|
|
(10.23 |
) |
Down 200 basis points |
|
|
(43.27 |
) |
|
|
22.80 |
|
|
|
(20.47 |
) |
Down 300 basis points |
|
|
(64.90 |
) |
|
|
34.21 |
|
|
|
(30.69 |
) |
We may, in the future, hedge against interest rate fluctuations by using standard hedging instruments such as futures, options and forward contracts subject to the requirements of the Investment Company Act, applicable CFTC regulations and in a manner consistent with SEC guidance. While hedging activities may insulate us against adverse changes in interest rates, they may also limit our ability to participate in benefits of lower interest rates with respect to our portfolio of investments with fixed interest rates.
ITEM 4. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures. As of the end of the period covered by this report, our management carried out an evaluation, under the supervision and with the participation of our Co-Chief Executive Officers and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act). Based on that evaluation, our Co-Chief Executive Officers and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of June 30, 2023. In designing and evaluating our disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives, and management necessarily applies its judgment in evaluating the benefits of possible controls and procedures relative to their costs.
Changes in Internal Control over Financial Reporting. There have been no changes in our internal control over financial reporting that occurred during our most recently completed fiscal quarter ended June 30, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
56
PART II. OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under loans to or other contracts with our portfolio companies. We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us.
Item 1A. RISK FACTORS
An investment in our securities involves a high degree of risk. Except as set forth below, there have been no material changes to the risk factors previously reported under Item 1A. “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 2, 2023. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may materially affect our business, financial condition and/or operating results.
Our business and the businesses of our portfolio companies are dependent on bank relationships and recent concerns associated with the banking system may adversely impact us.
The financial markets recently experienced volatility in connection with concerns that some banks, especially small and regional banks, may have significant investment-related losses that might make it difficult to fund demands to withdraw deposits and other liquidity needs. Although the federal government announced measures to assist certain banks and protect depositors, some banks had already been impacted and others may be adversely impacted, by such volatility. Our business and the businesses of our portfolio companies are dependent on bank relationships. We continue to monitor the financial health of these relationships. Any further strain on the banking system may adversely impact the business, financial condition and results of operations of us and our portfolio companies.
Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The following table summarizes the total Units issued and proceeds related to capital drawdowns:
Unit Issue Date |
|
Units Issued |
|
|
Proceeds |
|
||
For the Six Months Ended June 30, 2023 |
|
|
|
|
|
|
||
May 30, 2023 |
|
|
160,166 |
|
|
$ |
14.76 |
|
Total capital drawdowns |
|
|
160,166 |
|
|
$ |
14.76 |
|
For the Six Months Ended June 30, 2022 |
|
|
|
|
|
|
||
June 21, 2022 |
|
|
1,069,872 |
|
|
$ |
103.31 |
|
Total capital drawdowns |
|
|
1,069,872 |
|
|
$ |
103.31 |
|
Item 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
Item 4. MINE SAFETY DISCLOSURES
Not applicable.
Item 5. OTHER INFORMATION
None
Item 6. EXHIBITS
The exhibits filed as part of this Quarterly Report on Form 10-Q are set forth on the Index to Exhibits, which is incorporated herein by reference.
57
INDEX TO EXHIBITS
|
|
|
EXHIBIT NO. |
|
EXHIBIT |
|
|
|
3.1 |
|
|
|
|
|
3.2 |
|
|
|
|
|
10.1* |
|
|
31.1* |
|
|
|
|
|
31.2* |
|
|
|
|
|
31.3* |
|
|
|
|
|
32.1* |
|
|
|
|
|
32.2* |
|
|
|
|
|
32.3* |
|
|
|
|
|
101.INS* |
|
Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document |
|
|
|
101.SCH* |
|
Inline XBRL Taxonomy Extension Schema Document |
|
|
|
101 CAL* |
|
Inline XBRL Taxonomy Extension Calculation Linkbase Document |
|
|
|
101.DEF* |
|
Inline XBRL Taxonomy Extension Definition Linkbase Document |
|
|
|
101.LAB* |
|
Inline XBRL Taxonomy Extension Label Linkbase Document |
|
|
|
101.PRE* |
|
Inline XBRL Taxonomy Extension Presentation Linkbase Document |
|
|
|
104* |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
* Filed herewith.
58
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
|
|
GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC |
|
|
|
|
|||
Date: August 8, 2023 |
|
|
|
|
|
/s/ Alex Chi |
|
|
|
|
|
|
Name: Alex Chi |
|
|
|
|
|
|
Title: Co-Chief Executive Officer and Co-President |
|
|
|
|
|
|
(Co-Principal Executive Officer) |
|
|
|
|
|
|
|
Date: August 8, 2023 |
|
|
|
|
|
/s/ David Miller |
|
|
|
|
|
|
Name: David Miller |
|
|
|
|
|
|
Title: Co-Chief Executive Officer and Co-President |
|
|
|
|
|
|
(Co-Principal Executive Officer) |
|
|
|
|
|
|
|
Date: August 8, 2023 |
|
|
|
|
|
/s/ David Pessah |
|
|
|
|
|
|
David Pessah |
|
|
|
|
|
|
Chief Financial Officer and Treasurer |
|
|
|
|
|
|
(Principal Financial Officer) |
59
Execution Version
sEVENTH AMENDMENT TO
REVOLVING CREDIT AGREEMENT
This SEVENTH AMENDMENT TO REVOLVING CREDIT AGREEMENT (this “Amendment”), dated as of May 4, 2023, is entered into by and among GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC, a Delaware limited liability company (“Borrower”), MUFG BANK, LTD. (as successor to MUFG Union Bank, N.A. and in its individual capacity, “MUFG”), as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), the Letter of Credit Issuer, and the Lenders.
RECITALS
WHEREAS, the parties hereto have entered into that certain Revolving Credit Agreement dated as of May 7, 2019, as amended by that certain First Amendment to Revolving Credit Agreement dated as of July 31, 2019, as amended by that certain Second Amendment to Revolving Credit Agreement dated as of December 6, 2019, as amended by that certain Third Amendment to Revolving Credit Agreement dated as of January 27, 2020, as amended by that certain Fourth Amendment to Revolving Credit Agreement dated as of December 23, 2020, as amended by that certain Fifth Amendment to Revolving Credit Agreement dated as of December 23, 2021, and as further amended by that certain Sixth Amendment to Revolving Credit Agreement dated as of May 5, 2022 (as may be further amended, the “Credit Agreement”);
WHEREAS, pursuant to that certain Omnibus Notice of Resignation, Appointment and Assignment of Rights dated as of April 13, 2022, by and among, inter alios, Borrower, MUFG and MUFG Union Bank, N.A. (the “Prior Agent”), the Prior Agent resigned as, and MUFG was concurrently appointed as, Administrative Agent under the Credit Agreement;
WHEREAS, the Borrower has requested, among other things, an extension of the Maturity Date to November 3, 2023 and other related changes to the Credit Agreement; and
WHEREAS, Borrower, the Administrative Agent, and the Lenders have agreed, upon the following terms and conditions, to amend the Credit Agreement as provided herein.
NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein and in the Credit Agreement, the parties hereto agree as follows:
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the day and year first above written.
BORROWER:
GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC
By: /s/ David Pessah
Name: David Pessah
Title: Chief Financial Officer
Signature Page to
Seventh Amendment to Revolving Credit Agreement
ADMINISTRATIVE AGENT:
MUFG BANK, LTD., as Administrative Agent, the Letter of Credit Issuer and a Lender
By: /s/ Lawrence Blat
Name: Lawrence Blat
Title: Authorized Signatory
Signature Page to
Seventh Amendment to Revolving Credit Agreement
LENDERS:
M&T BANK, as a Lender
By: /s/ Kelly Rocchio
Name: Kelly Rocchio
Title: SVP, Senior Relationship Manager Fund Banking
Signature Page to
Seventh Amendment to Revolving Credit Agreement
PNC Bank, National Association, as a Lender
By: /s/ Lawrence Beller
Name: Lawrence Beller
Title: Executive Vice President
Signature Page to
Seventh Amendment to Revolving Credit Agreement
EXITING LENDERS:
WESTERN ALLIANCE BANK, as a Lender
By: /s/ Dragomir Sipovic
Name: Dragomir Sipovic
Title: Senior Director
Signature Page to
Seventh Amendment to Revolving Credit Agreement
SOCIETE GENERALE, as a Lender
By: /s/ Nick Mitra
Name: Nick Mitra
Title: Managing Director
Signature Page to
Seventh Amendment to Revolving Credit Agreement
Annex I
(Attached Separately)
Conformed Copy
GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC,
as Initial Borrower
REVOLVING CREDIT AGREEMENT
MUFG BANK, LTD.,
as Administrative Agent, Sole Lead Arranger and Sole Bookrunner
May 7, 2019
(as amended through the SixthSeventh Amendment to Revolving Credit Agreement
dated as of May 54, 20222023)
4854-3821-9547 v.54890-8208-0090 v.3
TABLE OF CONTENTS
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|
Page |
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1. |
DEFINITIONS. |
1 |
|
|
1.01 |
Defined Terms |
1 |
|
1.02 |
Other Definitional Provisions |
39 |
|
1.03 |
Times of Day; Rates |
40 |
|
1.04 |
Accounting Terms |
40 |
|
1.05 |
Letter of Credit Amounts |
40 |
|
1.06 |
Exchange Rates; Currency Equivalents. |
41 |
|
1.07 |
Change of Currency. |
42 |
|
1.08 |
Divisions |
42 |
2. |
LOANS. |
42 |
|
|
2.01 |
Revolving Credit Commitment |
42 |
|
2.02 |
Borrowings, Conversions and Continuations of Loans. |
42 |
|
2.03 |
Minimum Loan Amounts |
44 |
|
2.04 |
Funding. |
44 |
|
2.05 |
Interest. |
45 |
|
2.06 |
Determination of Rate |
46 |
|
2.07 |
Letters of Credit. |
46 |
|
2.08 |
Payment of Borrower Guaranties |
54 |
|
2.09 |
Use of Proceeds and Letters of Credit |
54 |
|
2.10 |
Unused Commitment Fee |
55 |
|
2.11 |
Administrative Agent and Arranger Fees |
55 |
|
2.12 |
Letter of Credit Fees. |
55 |
|
2.13 |
Computation of Interest and Fees |
56 |
|
2.14 |
Defaulting Lenders. |
56 |
|
2.15 |
Joint and Several Liability |
58 |
|
2.16 |
Cash Collateral. |
59 |
|
2.17 |
Increase in the Maximum Commitment. |
60 |
|
2.18 |
Extension of Stated Maturity Date |
61 |
3. |
PAYMENT OF OBLIGATIONS. |
62 |
|
|
3.01 |
Notes |
62 |
|
3.02 |
Payment of Obligation |
62 |
|
3.03 |
Payment of Interest. |
62 |
|
3.04 |
Payments of Obligation. |
63 |
|
3.05 |
Mandatory Prepayment. |
64 |
|
3.06 |
Voluntary Prepayments |
65 |
|
3.07 |
Reduction or Early Termination of Commitments |
65 |
|
3.08 |
Lending Office |
66 |
4. |
CHANGE IN CIRCUMSTANCES. |
66 |
|
|
4.01 |
Taxes. |
66 |
|
4.02 |
Illegality |
70 |
|
4.03 |
Inability to Determine Rates. |
71 |
|
4.04 |
Increased Costs Generally. |
72 |
|
4.05 |
Compensation for Losses |
73 |
|
4.06 |
Mitigation Obligations; Replacement of Funding Party. |
74 |
|
4.07 |
Prohibited Event. |
75 |
|
4.08 |
Benchmark Replacement Setting. |
75 |
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5. |
SECURITY. |
77 |
|
|
5.01 |
Liens and Security Interest |
77 |
|
5.02 |
Collateral Accounts. |
77 |
|
5.03 |
Agreement to Deliver Additional Collateral Documents |
79 |
|
5.04 |
Subordination |
79 |
6. |
CONDITIONS PRECEDENT TO CREDIT EXTENSIONS. |
80 |
|
|
6.01 |
Conditions to Initial Credit Extensions |
80 |
|
6.02 |
All Loans and Letters of Credit |
82 |
|
6.03 |
Qualified Borrower Loans and Letters of Credit |
83 |
7. |
REPRESENTATIONS AND WARRANTIES |
84 |
|
|
7.01 |
Organization and Good Standing of Borrowers |
84 |
|
7.02 |
Organization and Good Standing of Managing Entities |
84 |
|
7.03 |
Authorization and Power |
84 |
|
7.04 |
No Conflicts or Consents |
84 |
|
7.05 |
Enforceable Obligations |
85 |
|
7.06 |
Priority of Liens |
85 |
|
7.07 |
Financial Condition |
85 |
|
7.08 |
Full Disclosure |
85 |
|
7.09 |
No Default |
85 |
|
7.10 |
No Litigation |
85 |
|
7.11 |
Material Adverse Change |
86 |
|
7.12 |
Taxes |
86 |
|
7.13 |
Jurisdiction of Formation; Principal Office |
86 |
|
7.14 |
ERISA Compliance. |
86 |
|
7.15 |
Compliance with Law |
86 |
|
7.16 |
Hazardous Substances |
87 |
|
7.17 |
Insider |
87 |
|
7.18 |
Ownership Structure; Names of Investors |
87 |
|
7.19 |
Capital Commitments and Contributions |
87 |
|
7.20 |
Fiscal Year |
87 |
|
7.21 |
Investment Company Act |
87 |
|
7.22 |
Margin Stock |
88 |
|
7.23 |
No Defenses |
88 |
|
7.24 |
No Withdrawals Without Approval |
88 |
|
7.25 |
Solvency |
88 |
|
7.26 |
OFAC |
88 |
|
7.27 |
Anti-Corruption and Anti-Money Laundering Laws |
88 |
|
7.28 |
PWM Investor Side Letters |
89 |
|
7.29 |
Affected Financial Institution |
89 |
|
7.30 |
Beneficial Ownership |
89 |
8. |
AFFIRMATIVE COVENANTS |
89 |
|
|
8.01 |
Financial Statements, Reports and Notices |
89 |
|
8.02 |
Payment of Taxes |
92 |
|
8.03 |
Maintenance of Existence and Rights |
92 |
|
8.04 |
Notice of Default |
93 |
|
8.05 |
Other Notices |
93 |
|
8.06 |
Compliance with Governing Agreements |
93 |
|
8.07 |
Books and Records; Access |
93 |
|
8.08 |
Compliance with Law |
93 |
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|
8.09 |
Insurance |
94 |
|
8.10 |
Authorizations and Approvals |
94 |
|
8.11 |
Maintenance of Liens |
94 |
|
8.12 |
Further Assurances |
94 |
|
8.13 |
Solvency |
94 |
|
8.14 |
Anti-Corruption and OFAC Policies and Procedures |
94 |
|
8.15 |
Covenants of Qualified Borrowers |
95 |
|
8.16 |
Investment Company Act |
95 |
9. |
NEGATIVE COVENANTS |
95 |
|
|
9.01 |
Mergers; Dissolution |
95 |
|
9.02 |
Negative Pledge |
95 |
|
9.03 |
Fiscal Year and Accounting Method |
96 |
|
9.04 |
Constituent Documents. |
96 |
|
9.05 |
Transfer by, or Admission of, Investors. |
96 |
|
9.06 |
Capital Commitments |
98 |
|
9.07 |
ERISA Compliance |
98 |
|
9.08 |
Limitations on Dividends and Distributions. |
98 |
|
9.09 |
Limitation on Debt |
99 |
|
9.10 |
Limitation on Managing Entities |
99 |
|
9.11 |
Sanctions |
99 |
|
9.12 |
Reinvestments |
99 |
10. |
EVENTS OF DEFAULT. |
99 |
|
|
10.01 |
Events of Default |
99 |
|
10.02 |
Remedies Upon Event of Default |
102 |
|
10.03 |
Curing an Event of Default by Investor Capital Call. |
103 |
|
10.04 |
Performance by Administrative Agent |
104 |
|
10.05 |
Application of Funds |
104 |
11. |
ADMINISTRATIVE AGENT. |
105 |
|
|
11.01 |
Appointment and Authority |
105 |
|
11.02 |
Rights as a Lender |
105 |
|
11.03 |
Exculpatory Provisions |
106 |
|
11.04 |
Reliance by Agent |
106 |
|
11.05 |
Delegation of Duties |
107 |
|
11.06 |
Resignation of Agent |
107 |
|
11.07 |
Non-Reliance on Agents and Other Lenders |
108 |
|
11.08 |
No Other Duties, Etc |
108 |
|
11.09 |
Administrative Agent May File Proofs of Claim |
108 |
|
11.10 |
Collateral Matters |
109 |
|
11.11 |
Erroneous Payments. |
109 |
12. |
MISCELLANEOUS. |
112 |
|
|
12.01 |
Amendments |
112 |
|
12.02 |
Right of Setoff |
114 |
|
12.03 |
Sharing of Payments by Lenders |
114 |
|
12.04 |
Payments Set Aside |
115 |
|
12.05 |
No Waiver; Cumulative Remedies; Enforcement |
116 |
|
12.06 |
Expenses; Indemnity; Damage Waiver. |
116 |
|
12.07 |
Notices. |
118 |
|
12.08 |
Governing Law |
119 |
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|
12.09 |
Choice of Forum; Consent to Service of Process and Jurisdiction; Waiver of Trial by Jury. |
120 |
|
12.10 |
Invalid Provisions |
121 |
|
12.11 |
Successors and Assigns. |
121 |
|
12.12 |
[Reserved] |
125 |
|
12.13 |
Replacement of Funding Party |
125 |
|
12.14 |
Maximum Interest |
126 |
|
12.15 |
Headings |
127 |
|
12.16 |
Survival of Representations and Warranties |
127 |
|
12.17 |
Limited Liability of Investors |
127 |
|
12.18 |
Confidentiality |
127 |
|
12.19 |
Judgment Currency |
128 |
|
12.20 |
USA Patriot Act Notice |
129 |
|
12.21 |
No Advisory or Fiduciary Responsibility |
129 |
|
12.22 |
[Reserved]. |
129 |
|
12.23 |
[Reserved]. |
129 |
|
12.24 |
Lender Representation |
129 |
|
12.25 |
Counterparts; Integration; Effectiveness |
129 |
|
12.26 |
Acknowledgement and Consent to Bail-In of Affected Financial Institutions |
130 |
SCHEDULES |
|
|
|
SCHEDULE 1.01 |
Commitments and Lenders |
SCHEDULE 2.01 |
Exclusion Event Annex |
SCHEDULE 8.01 |
Responsible Officers |
SCHEDULE 12.07 |
Addresses |
|
|
EXHIBITS |
|
|
|
EXHIBIT A: |
Revolving Credit Note |
EXHIBIT B-1: |
Loan Notice |
EXHIBIT B-2: |
Request for Letter of Credit |
EXHIBIT B-3: |
Repayment Notice |
EXHIBIT C: |
Qualified Borrower Promissory Note |
EXHIBIT D: |
Borrower Guaranty |
EXHIBIT E |
Security Agreement |
EXHIBIT F: |
Assignment of Capital Contribution Account |
EXHIBIT G: |
Assignment and Assumption Agreement |
EXHIBIT H: |
Compliance Certificate |
EXHIBIT I: |
Forms of U.S. Tax Compliance Certificates |
EXHIBIT J: |
Borrowing Base Certificate |
EXHIBIT K: |
[Reserved] |
EXHIBIT L: |
Escrow Agreement |
EXHIBIT M: EXHIBIT N: |
Facility Increase Request Form of Lender Joinder Agreement |
EXHIBIT O: |
Facility Extension Request |
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REVOLVING CREDIT AGREEMENT
THIS REVOLVING CREDIT AGREEMENT (together with all amendments and modifications hereof and supplements and attachments hereto, this “Credit Agreement”) is dated as of May 7, 2019 by and among GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC, a Delaware limited liability company (“Initial Borrower” and, together with any other entity joining the facility as a Borrower with the consent of the Lenders, the “Borrowers”), MUFG BANK, LTD. (as successor to MUFG Union Bank, N.A. and in its individual capacity, “MUFG”), as administrative agent for the Lenders (as hereinafter defined) and Letter of Credit Issuer, and the Lenders (capitalized terms not otherwise defined are defined below).
A. Initial Borrower has requested that Lenders make loans and cause the issuance of letters of credit to Borrowers and Qualified Borrowers for the principal purposes of: providing working capital to Borrowers, financing the costs and other expenses to be incurred by Borrowers in connection with making investments permitted under the Governing Agreements, and financing the costs of other undertakings by Borrowers permitted under the Governing Agreements; and
B. Lenders are willing to lend funds and to cause the issuance of letters of credit upon the terms and subject to the conditions set forth in this Credit Agreement.
NOW, THEREFORE, in consideration of the mutual promises herein contained and for other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby agree as follows:
. For the purposes of this Credit Agreement, unless otherwise expressly defined, the following terms shall have the respective meanings assigned to them in this Section 1 or in the Section or recital referred to:
“Account Control Agreement” means each deposit account control agreement or blocked account control agreement or securities account control agreement by and among a Borrower, the depository bank or securities intermediary, as applicable, and Administrative Agent, in form and substance reasonably satisfactory to Administrative Agent.
“Adequately Capitalized” means compliance with the capital standards for bank holding companies as described in the Bank Holding Company Act of 1956, as amended, and regulations promulgated thereunder.
“Administrative Agent” means MUFG until the appointment of a successor administrative agent pursuant to Section 11 and, thereafter, shall mean such successor administrative agent.
“Administrative Agent’s Office” means Administrative Agent’s address as set forth on Schedule 12.07, or such other address or, as appropriate, account as Administrative Agent may from time to time notify Borrowers and the Lenders.
“Administrative Questionnaire” means an administrative questionnaire in a form supplied by the Administrative Agent.
4854-3821-9547 v.54890-8208-0090 v.3
“Affected Financial Institution” means (a) any EEA Financial Institution, or (b) any UK Financial Institution.
“Affected Funding Party” is defined in Section 12.13.
“Affiliate” of any Person means any other Person that, directly or indirectly, Controls or is Controlled By, or is Under Common Control With, such Person.
“Agents” means, collectively, the Administrative Agent, the Arranger and any successors and assigns in such capacities.
“Agreement Currency” is defined in Section 12.19.
“Alternative Base Rate” means, for any day, a fluctuating rate per annum equal to the highest of: (a) the Federal Funds Rate plus 0.50%; (b) the Prime Rate for such day; or (c) the Term SOFR for such day with an available tenor of one (1) month plus the SOFR Spread Adjustment for an available tenor of one (1) month plus 1.00%.
“Alternative Currency” means each of the following currencies: Euro, Sterling and Canadian Dollar and such other currencies as the Borrowers and all Lenders may agree in writing from time to time.
“Alternative Currency Banking Day” means:
(a) if such day relates to any interest rate settings as to Alternative Currency Term Rate Loans denominated in Euros, any fundings, disbursements, settlements and payments in Euros in respect of any such Loan, or any other dealings in Euros to be carried out pursuant to this Credit Agreement in respect of any such Loan, a TARGET Day;
(b) if such day relates to any interest rate settings as to Daily SONIA Loans denominated in Sterling or payments under this Credit Agreement in Sterling, a SONIA Business Day;
(c) if such day relates to any interest rate settings as to Alternative Currency Term Rate Loans denominated in any Alternative Currency (other than Euro or Sterling), any fundings, disbursements, settlements and payments in respect of any such Loans, or any other dealings in any such Alternative Currency to be carried out pursuant to this Credit Agreement in respect of any such Loan, means any such day on which banks are open for foreign exchange business in the principal financial center of the country of such Alternative Currency.
“Alternative Currency Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency in Dollars.
“Alternative Currency Term Rate” means, with respect to any Credit Extension for any Interest Period in an Alternative Currency (other than Sterling):
(a) denominated in Canadian Dollars, the rate per annum equal to the Canadian Dollar Offered Rate (“CDOR”), as published on the applicable screen page Administrative Agent designates to determine CDOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent in its reasonable discretion from time to time) on the Rate Determination Date at the applicable Reference Time for deposits in Canadian
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4854-3821-9547 v.54890-8208-0090 v.3
Dollars (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period;
(b) denominated in Euros, the rate per annum equal to the Euro Interbank Offered Rate (“EURIBOR”), as published on the applicable screen page Administrative Agent designates to determine EURIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent in its reasonable discretion from time to time) on the Rate Determination Date at the applicable Reference Time for deposits in Euros (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; and
provided that to the extent a comparable or successor rate is reasonably approved by the Administrative Agent, in consultation with the Borrowers, in connection with any rate set forth in this definition, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent, in consultation with the Borrowers; and if the Alternative Currency Term Rate shall be less than the Floor, such rate shall be deemed the Floor for purposes of this Credit Agreement.
“Alternative Currency Term Rate Loan” means a Loan that bears interest at a rate calculated by reference to the Alternative Currency Term Rate. All Loans denominated in an Alternative Currency (other than Sterling) must be Alternative Currency Term Rate Loans.
“Annual Valuation Period” means the “annual valuation period” as defined in 29 C.F.R. §2510.3‑101(d)(5) as determined, for each Borrower, as applicable.
“Applicable Margin” means (a) with respect to Term SOFR Loans, Alternative Currency Term Rate Loans, Daily SONIA Loans and Letters of Credit, 2.252.75% per annum and (b) with respect to Base Rate Loans, 1.251.75% per annum.
“Applicable Percentage” means, with respect to any Lender, the percentage equivalent of a fraction the numerator of which is the sum of the Commitments held by such Lender and the denominator of which is the sum of all Commitments outstanding. If the Commitments have terminated or expired, the Applicable Percentages shall be the percentage equivalent of a fraction the numerator of which is the aggregate Principal Obligation (including participations in the Letter of Credit Obligations) held by such Lender and the denominator of which is the total Principal Obligation (including participations in the Letter of Credit Obligations). The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 1.01 (or a replacement Schedule 1.01 issued by Administrative Agent from time to time to the extent new Lenders become party hereto or the Commitments of Lenders change) or in either the Assignment and Assumption or Lender Joinder Agreement pursuant to Section 2.17 pursuant to which such Lender becomes a party hereto, as applicable.
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4854-3821-9547 v.54890-8208-0090 v.3
“Applicable Requirement” means, for any Included Investor that is (or whose Credit Provider, if applicable, is): (a) a Bank Holding Company, Adequately Capitalized status or better and a Rating of BBB+/Baa1 or higher; (b) an insurance company, a Rating by A.M. Best Company of A- or higher and a Rating of BBB+/Baa1 or higher; (c) an ERISA Investor, or the trustee or nominee of an ERISA Investor, in addition to the Sponsor’s Rating of BBB+/Baa1 or higher, a minimum Funding Ratio for the pension fund based on the Rating of the Sponsor of the pension fund as follows:
Sponsor Rating |
Minimum Funding Ratio |
A-/A3 or higher |
No minimum |
BBB+/Baal |
90% |
|
|
(d) a Governmental Plan Investor, or the Responsible Party with respect to such Governmental Plan Investor, in addition to the Responsible Party’s Rating of BBB+/Baal or higher, a minimum Funding Ratio for the pension fund based on the Rating of the Responsible Party as follows:
Responsible Party Rating |
Minimum Funding Ratio |
A-/A3 or higher |
No minimum |
BBB+/Baal |
90% |
|
|
and (e) otherwise a Rated Investor, a Rating of BBB+/Baa1 or higher.
The first Rating indicated in each case above is the S&P Rating and the second Rating indicated in each case above is the Moody’s Rating. In the event that the Ratings are not equivalent, the Applicable Requirement will be based on the lowest of the Ratings. If any Person has only one Rating, then that Rating will apply.
“Applicable Time” means, with respect to any Credit Extensions and payments in any Alternative Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Administrative Agent to be necessary for timely settlement on the relevant date in accordance with normal banking procedures in the place of payment; provided, that such time shall be no later than 2:00 p.m. (New York time).
“Approved Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business, that is administered or managed by: (a) a Lender; (b) an Affiliate of a Lender; or (c) an entity or an Affiliate of an entity that administers or manages a Lender.
“Arranger” means MUFG, in its capacity as the sole lead arranger and bookrunner.
“Assignee” is defined in Section 12.11(b).
“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor.
“Assignment and Assumption” means an assignment and assumption agreement entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 12.11(b)(iii)), and accepted by the Administrative Agent, in substantially the form of Exhibit G or any other form approved by the Administrative Agent with the consent of the Borrowers.
“Assignment of Capital Contribution Account” means an assignment of a Capital Contribution Account in substantially the form of Exhibit F attached hereto.
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4854-3821-9547 v.54890-8208-0090 v.3
“Attributable Indebtedness” means, on any date: (a) in respect of any Finance Lease of any Person, the capitalized amount thereof that would appear as indebtedness on a balance sheet of such Person prepared as of such date in accordance with Generally Accepted Accounting Principles; and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear as indebtedness on a balance sheet of such Person prepared as of such date in accordance with Generally Accepted Accounting Principles if such lease were accounted for as a Finance Lease.
“Auto-Extension Letter of Credit” is defined in Section 2.07(b)(iii).
“Availability Period” means the period commencing on the Closing Date and ending on the Maturity Date.
“Available Loan Amount” means at any time with respect to all Borrowers collectively, the lesser of (a) the Maximum Commitment and (b) the sum of (i) the Borrowing Base of Initial Borrower and (ii) the Borrowing Base of each other Borrower minus (iii) the FX Reserve Amount at such time.
“Available Tenor” means, as of any date of determination and with respect to any then-current Benchmark, as applicable, (a) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an Interest Period pursuant to this Credit Agreement or (b) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to Section 4.08(d).
“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.
“Bail-In Legislation” means, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, rule, regulation or requirement for such EEA Member Country from time to time which is described in the EU Bail‑In Legislation Schedule, and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).
“Bank Holding Company” means a “bank holding company” as defined in Section 2(a) of the Bank Holding Company Act of 1956, as amended, or a non-bank subsidiary of such bank holding company.
“Base Rate Loan” means a Loan that bears interest based on the Alternative Base Rate. All Base Rate Loans shall be denominated in Dollars.
“Basel III” means the global regulatory standards on bank capital adequacy and liquidity referred to by the Basel Committee on Banking Supervision as “Basel III” or the “Basel III Framework” published in December 2010 together with any further guidance or standards in relation to “Basel III” or the “Basel III Framework” published or to be published by the Basel Committee.
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“Benchmark” means, initially, with respect to (a) any Obligations, interest, fees, commissions or other amounts denominated in Dollars or calculated with respect thereto, SOFR, (b) any Obligations, interest, fees, commissions or other amounts denominated in Euro or calculated with respect thereto, EURIBOR, (c) any Obligations, interest, fees, commissions or other amounts denominated in Canadian Dollars or calculated with respect thereto, CDOR, (d) any Obligations, interest, fees, commissions or other amounts denominated in Sterling or calculated with respect thereto, Daily SONIA; provided that if a Benchmark Transition Event has occurred with respect the then-current Benchmark for such currency, then “Benchmark” with respect to Obligations, interest, fees, commissions or other amounts denominated in such currency or calculated with respect thereto, means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 4.08.
“Benchmark Replacement” means, with respect to any Benchmark Transition Event for any then-current Benchmark, the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrowers as the replacement for such Benchmark giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for such Benchmark for syndicated credit facilities denominated in the applicable currency at such time and (b) the related Benchmark Replacement Adjustment; provided that, if such Benchmark Replacement as so determined would be less than the Floor, such Benchmark Replacement will be deemed to be the Floor for the purposes of this Credit Agreement and the other Loan Documents.
“Benchmark Replacement Adjustment” means, with respect to any replacement of any then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by Administrative Agent and the Borrowers giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement for syndicated credit facilities denominated in the currency applicable to such Benchmark; provided that, if such then-current Benchmark is a term rate, more than one tenor of such Benchmark is available as of the applicable Benchmark Replacement Date and the applicable Unadjusted Benchmark Replacement that will replace such Benchmark in accordance with Section 4.08 will not be a term rate, the Available Tenor of such Benchmark for purposes of this definition of “Benchmark Replacement Adjustment” shall be deemed to be, with respect to each Unadjusted Benchmark Replacement having a payment period for interest calculated with reference thereto, the Available Tenor that has approximately the same length (disregarding business day adjustments) as such payment period.
“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark for any currency:
(a) in the case of clause (a) or (b) of the definition of “Benchmark Transition Event”, the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or
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(b) in the case of clause (c) of the definition of “Benchmark Transition Event”, the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by or on behalf of the administrator of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative; provided that such non-representativeness will be determined by reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.
For the avoidance of doubt, (A) if the event giving rise to the Benchmark Replacement Date for any Benchmark occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such Benchmark and for such determination and (B) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).
“Benchmark Transition Event” means, with respect to the then-current Benchmark for any currency, the occurrence of one or more of the following events with respect to such Benchmark:
(a) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);
(b) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, the central bank for the currency applicable to such Benchmark, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or
(c) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are not, or as of a specified future date will not be, representative.
For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).
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“Benchmark Unavailability Period” means, with respect to any then-current Benchmark, the period (if any) (a) beginning at the time that a Benchmark Replacement Date with respect to such Benchmark has occurred if, at such time, no Benchmark Replacement has replaced such Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 4.08 and (b) ending at the time that a Benchmark Replacement has replaced such Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 4.08.
“Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.
“Beneficial Ownership Regulation” means 31 C.F.R. §1010.230.
“Borrower Expense” means any operating expense of any Borrower incurred in the ordinary course of such Borrower’s activities pursuant to and in compliance with its Governing Agreement and this Credit Agreement.
“Borrower Guaranty” means an unconditional guaranty of payment substantially in the form of Exhibit D attached hereto, enforceable against the applicable Borrower for the payment of a Qualified Borrower’s debt or obligation to Lenders.
“Borrower Parties” means each Borrower and each Qualified Borrower.
“Borrowers” is defined in the preamble to this Credit Agreement.
“Borrowing” means a borrowing consisting of simultaneous Loans of the same Type of Loan in the same currency and, in the case of Term SOFR Loans or Alternative Currency Term Rate Loans, having the same Interest Period, made by each of the applicable Lenders.
“Borrowing Base” means, at any time the same is to be determined, (a) with respect to Credit Extensions to Initial Borrower, the sum of: (i) the amount equal to 90% of the Eligible Unfunded Commitments of all Included Investors of Initial Borrower at such time, (ii) the amount equal to 65% of the Eligible Unfunded Commitments of all Designated Investors of Initial Borrower at such time, and (iii)(A) at all times during a Hurdle Satisfaction Period, the amount equal to 65% of the Eligible Unfunded Commitments of all PWM Investors of Initial Borrower at such time or (B) at all other times, the amount equal to 50% of the Eligible Unfunded Commitments of all PWM Investors of Initial Borrower at such time, and (b) with respect to Credit Extensions to any other Borrower (if applicable), such amount as may be agreed by Lenders in their sole discretion. In determining the “Eligible Unfunded Commitments,” the Unfunded Commitments of each Investor classification shall be reduced by any amounts in excess of all applicable individual Concentration Limits. With respect to a Replacement Action, the applicable new or replacement PWM Investor (other than a GS Person) shall be included in the Borrowing Base of the applicable Borrower as a PWM Investor upon the effectiveness of such Replacement Action (but subject to Exclusion Events).
“Borrowing Base Certificate” means a certificate of any Responsible Officer of each Borrower either (a) confirming there has been no change in the Borrowing Base since the date of the most recently delivered Borrowing Base Certificate or (b) setting forth a current calculation of the Borrowing Base as of the date thereof, in substantially the form of Exhibit J attached hereto.
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“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where Administrative Agent’s Office is located, and if such day relates to any interest rate settings, fundings, disbursements, settlements or payments in an Alternative Currency, Business Day shall also include Alternative Currency Banking Days.
“Canadian Dollars” and “Cdn$” mean the lawful currency of Canada.
“Capital Call” means a call upon all or any of the Investors for payment of all or any portion of their Unfunded Commitments.
“Capital Commitment” means, for any Investor, its “Commitment” as defined in the applicable Governing Agreement.
“Capital Contribution” means, for any Investor, any contribution of capital made (or deemed made) to any Borrower in response to a Capital Call or otherwise.
“Capital Contribution Account” means each account established by a Borrower, in the name of such Borrower, with an Eligible Depository Institution into which (a) Capital Contributions received or otherwise collected from Investors shall be deposited or (b) other funds not related to Capital Calls may (at the option of the Borrower) be deposited, and which is the “Account” as identified and defined in each Assignment of Capital Contribution Account delivered in accordance with the terms hereof.
“Cash Collateral” has a meaning correlative to the definition of “Cash Collateralize” below and includes the proceeds of such Cash Collateral and other credit support.
“Cash Collateralize” means to pledge and deposit with or deliver to Administrative Agent, for the benefit of one or more of the Letter of Credit Issuer and the Lenders, as collateral for the Letter of Credit Obligations or obligations of Lenders to fund participations in respect of Letters of Credit, cash or deposit account balances, or, if Administrative Agent and the Letter of Credit Issuer agree in their reasonable discretion, other credit support, in each case pursuant to documentation in form and substance reasonably satisfactory to: (a) Administrative Agent; and (b) the Letter of Credit Issuer.
“Cash Control Event” is defined in Section 5.02(c).
“CDOR” is defined in the definition of “Alternative Currency Term Rate”.
“Change in Law” means the occurrence, after the date of this Credit Agreement (or, with respect to any Person that becomes a Lender pursuant to an Assignment and Assumption, the effective date of such assignment), of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty; (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority; or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that, notwithstanding anything herein to the contrary: (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith; and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.
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“Change of Control” means (a) with respect to any Borrower, the failure of (i) Goldman Sachs, or (ii) any Affiliate of Goldman Sachs to be the investment manager or investment advisor of such Borrower; provided, however, that a Change of Control shall not exist if a third party administrator acceptable to the Administrative Agent in its reasonable discretion, directly or indirectly, controls such investment manager or investment advisor, as applicable; and (b) with respect to any Managing Entity, the failure of (i) such independent party acceptable to the Administrative Agent, in its reasonable discretion, or (ii) Goldman Sachs or any Affiliate thereof to directly control such Managing Entity.
“Closing Date” means the date on which all of the conditions precedent set forth in Section 6.01 are satisfied or waived, any such waiver to be in the sole discretion of the Administrative Agent, which date is May 7, 2019.
“Collateral” is defined in Section 5.01.
“Collateral Accounts” mean each Capital Contribution Account.
“Collateral Documents” means the security agreements, financing statements, assignments, and other documents and instruments from time to time executed and delivered by any of the Borrower Parties pursuant to this Credit Agreement to grant or perfect Liens on the Collateral and any documents or instruments amending or supplementing the same, including, without limitation, the Security Agreements, the Assignment of Capital Contribution Accounts and the Account Control Agreements.
“Commitment” means, as to each Lender, its obligation to: (a) advance Loans to Borrower Parties pursuant to Section 2.01; and (b) purchase risk participations in Letters of Credit, in an aggregate principal amount at any one time outstanding not to exceed the Dollar Equivalent amount set forth opposite such Lender’s name on Schedule 1.01 or on the respective Assignment and Assumption or Lender Joinder Agreement pursuant to Section 2.17 pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Credit Agreement (including, without limitation, as increased pursuant to Section 2.17).
“Compliance Certificate” is defined in Section 8.01(c).
“Concentration Limit” has the meaning provided in the definition of Inclusion Percentage.
“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.
“Consequential Damages” is defined in Section 12.06(d).
“Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Alternative Base Rate,” the definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Alternative Currency Banking Day”, the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that Administrative Agent decides, in consultation with the Borrowers, may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by Administrative Agent in a manner substantially consistent with market practice (or, if Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as Administrative Agent decides is reasonably necessary in connection with the administration of this Credit Agreement and the other Loan Documents).
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“Constituent Documents” means, for any entity, its governing, constituent or organizational documents, including: (a) in the case of any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation with the secretary of state or other department in the state of its formation, in each case as amended from time to time; (b) in the case of any limited liability company, the articles or certificate of formation and its operating agreement or limited liability company agreement; (c) in the case of a corporation, the certificate or articles of incorporation and its bylaws or memorandum and articles of association; and (d) in each case, any Side Letter and any Subscription Agreement.
“Control” and the correlative meanings of the terms “Controlled By” and “Under Common Control With” mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting shares or ownership interests, or of the ability to exercise voting power by contract or otherwise.
“Credit Agreement” means this Revolving Credit Agreement, of which this Section 1 forms a part, together with all amendments, modifications, and restatements hereof, and supplements and attachments hereto.
“Credit Extension” means each of the following: (a) Borrowing or any conversion or continuation of any Borrowing; and (b) an L/C Credit Extension.
“Credit Provider” means a Person providing a guaranty or other form of credit support or credit enhancement in form and substance acceptable to Administrative Agent, of the obligations of an Included Investor to make Capital Contributions to the applicable Borrower.
“Curing Capital Call” is defined in Section 5.02(c).
“Daily SONIA” means, for any day (a “SONIA Rate Day”), a rate per annum equal to, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to Sterling, the greater of (i) Spread Adjusted SONIA for the day (such day, the “SONIA Determination Day”) that is five (5) SONIA Business Days prior to (A) if such SONIA Rate Day is an SONIA Business Day, such SONIA Rate Day or (B) if such SONIA Rate Day is not an SONIA Business Day, the SONIA Business Day immediately preceding such SONIA Rate Day, in each case, utilizing the SONIA component of such Spread Adjusted SONIA that is published by the SONIA Administrator on the SONIA Administrator’s Website, and (ii) the Floor. If by 5:00 p.m. (local time for SONIA) on the second (2nd) SONIA Business Day immediately following any SONIA Determination Day, SONIA in respect of such SONIA Determination Day has not been published on the SONIA Administrator’s Website, then SONIA for such SONIA Determination Day will be SONIA as published in respect of the first preceding SONIA Business Day for which SONIA was published on the SONIA Administrator’s Website; provided that any SONIA determined pursuant to this sentence shall be utilized for purposes of calculation of Daily SONIA for no more than three (3) consecutive SONIA Rate Days. Any change in Daily SONIA due to a change in SONIA shall be effective from and including the effective date of such change in SONIA without notice to the Borrowers.
“Daily SONIA Loan” means a Loan that bears interest at a rate based on Daily SONIA. Daily SONIA Loans shall be denominated in Sterling.
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“Debtor Relief Laws” means any applicable liquidation, conservatorship, bankruptcy, dissolution, moratorium, rearrangement, insolvency, fraudulent conveyance, reorganization, or similar laws affecting the rights, remedies, or recourse of creditors generally, including without limitation the United States Bankruptcy Code and all amendments thereto, as are in effect from time to time during the term of the Loans.
“Default” means any condition, act, or event which, with the giving of notice or lapse of time or both, would become an Event of Default.
“Default Rate” means on any day for any outstanding amount, the lesser of (a)(i) when used with respect to Obligations other than Letter of Credit Fees, the applicable interest rate for such outstanding amount (including the Applicable Margin) in effect on such day (or if no interest rate is otherwise applicable, the Alternative Base Rate), plus 2%; or (ii) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Margin plus 2% per annum and (b) the Maximum Rate.
“Defaulting Investor” is defined in the definition of “Exclusion Event” herein.
“Defaulting Lender” means, subject to Section 2.14(b), any Lender that: (a) has failed to: (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder (unless such Lender notifies Administrative Agent and Borrowers in writing that such failure is the result of such Lender’s good faith determination that one or more conditions precedent to funding, each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing, has not been satisfied but not if any court determines that such condition precedent has been satisfied), or (ii) pay to Administrative Agent, the Letter of Credit Issuer or any Lender any other amount required to be paid by it hereunder (including if respect of its participation in Letter of Credit) within two Business Days of the date when due; (b) has notified Borrowers or Administrative Agent or the Letter of Credit Issuer in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s good faith determination that a condition precedent to funding, which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement, cannot be satisfied, but not if any court determines that such condition precedent has been or can be satisfied); (c) has failed, within two Business Days after written request by Administrative Agent, the Letter of Credit Issuer or Borrowers, to confirm in writing to Administrative Agent and Borrowers that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by Administrative Agent, the Letter of Credit Issuer and Borrowers); or (d) has, or has a direct or indirect parent company that has: (i) become the subject of a proceeding under any Debtor Relief Law; (ii) had appointed for it a receiver, liquidator, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization, dissolution or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state, federal or foreign regulatory authority acting in such a capacity; or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.14(b)) as of the date established therefor by Administrative Agent in a written notice of such
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determination, which shall be delivered by Administrative Agent to Borrowers, the Letter of Credit Issuer and each Lender promptly following such determination.
“Designated Investor” means an Institutional Investor (and the approved portion of its Capital Commitments) (a) that has been so designated by Administrative Agent and all Lenders (each in its sole discretion) as a Designated Investor; and (b) that has delivered to Administrative Agent the information and documents described in Section 6.01(l) and, with respect to a Replacement Action described in Section 9.05(d)(i), and each as evidenced in a writing executed by Administrative Agent; provided (x) that once an Institutional Investor has been approved as set forth above as a Designated Investor, such approval may not be withdrawn after the effective date except as provided below in clause (y) of this definition; and (y) that a Defaulting Investor shall no longer be a Designated Investor until such time as all Exclusion Events affecting such Investor have been cured to the reasonable satisfaction of Administrative Agent as indicated by Administrative Agent’s prompt consent (not to be unreasonably withheld conditioned or delayed) upon notification thereof to Borrowers.
“Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is or becomes the subject of comprehensive, territorial Sanctions (currently Cuba, Iran, Syria, North Korea and the Crimea, Donetsk and Luhansk regions of Ukraine).
“Dividing Person” has the meaning assigned to it in the definition of “Division.”
“Division” means the division of the assets, liabilities and/or obligations of a Person (the “Dividing Person”) among two or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include the Dividing Person and pursuant to which the Dividing Person may or may not survive.
“Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency.
“Dollars” and the sign “$” means lawful currency of the United States of America.
“EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.
“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.
“EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.
“Eligible Assignee” means: (a) a Lender or an Affiliate of a Lender; (b) except as covered by clause (a) above, an Approved Fund with respect to a Lender so long as the assigning Lender is not released from its obligation hereunder; and (c) any other Person which has a short-term unsecured debt rating of at least
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P-1 from Moody’s or at least A-1 from S&P (or (x) if such Person has a rating from one of Moody’s or S&P that is not P-1 or A-1, as applicable, it has a short-term unsecured debt rating of at least F-1 from Fitch Ratings, Inc. or (y) such lower ratings as may be approved in writing by Borrowers and the Administrative Agent) and is approved by the Administrative Agent and the Letter of Credit Issuer (such approval not to be unreasonably withheld or delayed), and in the case of clause (b) or clause (c), unless an Event of Default exists and is continuing at the time any assignment is effected in accordance with Section 12.11, Borrowers (such approval not to be unreasonably withheld or delayed by Borrowers, and such approval to be deemed given by Borrowers if no objection is received by the assigning Lender and Administrative Agent from Borrowers within 10 Business Days after written notice of such proposed assignment has been provided by the assigning Lender to Borrowers); provided, however, that (x) each Eligible Assignee must be a “Qualified Purchaser” and (y) no Borrower nor any Affiliate of any Borrower shall qualify as an Eligible Assignee.
“Eligible Depository Institution” shall mean (i) any depository institution, organized under the laws of the United States or any state, having capital and surplus in excess of $200,000,000, the deposits of which are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law and which is subject to supervision and examination by federal or state banking authorities; provided that such institution also must have a short-term unsecured debt rating of at least P-1 from Moody’s and at least A-1 from S&P, and (ii) Goldman, Sachs & Co. LLC, for so long as Goldman, Sachs & Co. LLC has a short-term unsecured debt rating of at least P-2 from Moody’s and at least A-2 from S&P; provided, further, that if Goldman, Sachs & Co. LLC no longer has a short-term unsecured debt rating of at least P‑1 from Moody’s and at least A-1 from S&P, upon the occurrence and continuance of a Mandatory Prepayment Event or an Event of Default, all Capital Contributions shall be initially transferred into the Capital Contribution Account of the applicable Borrower Party maintained at a depository institution meeting the requirement of clause (i) above. If such depository institution publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
“Eligible Investor” means any Included Investor, Designated Investor and any PWM Investor, as applicable, that is in Investor Good Standing Status and is not a Prohibited Person.
“Eligible Unfunded Commitments” means, at any time the same is to be determined with respect to any Eligible Investor the lesser of (a) the Unfunded Commitment of such Eligible Investor at such time and (b) the product of (i) the Inclusion Percentage at such time for such Eligible Investor multiplied by (ii) the Unfunded Commitment of such Eligible Investor at such time; provided that, at any time an Exclusion Event has occurred and is continuing with respect to such Eligible Investor, the Eligible Unfunded Commitments subject to such Exclusion Event of such Eligible Investor shall be zero.
“Endowment Fund Investor” means an Investor that is a wholly owned, tax exempt, public charity subsidiary of a Sponsor, the assets of which Investor are not wholly disbursable for the Sponsor’s purposes on a current basis under the specific terms of all applicable gift instruments, formed for the sole purpose of accepting charitable donations on behalf of such Sponsor and investing the proceeds thereof.
“Environmental Complaint” means any complaint, order, demand, citation or notice threatened or issued in writing to any Borrower Party by any Governmental Authority with regard to air emissions, water discharges, Releases, or disposal of any Hazardous Material, noise emissions or any other environmental, health or safety matter affecting any Borrower Party or any of a Borrower Party’s Properties.
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“Environmental Laws” means: (a) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended by the Superfund Amendments and Re-authorization Act of 1986, 42 U.S.C. §9601 et seq.; (b) the Resource Conservation and Recovery Act of 1976, as amended by the Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. §6901 et seq.; (c) the Clean Air Act, 42 U.S.C. §7401 et seq., as amended by the Clean Air Act Amendments of 1990; (d) the Clean Water Act of 1977, 33 U.S.C. §1251 et seq.; (e) the Toxic Substances Control Act, 15 U.S.C.A. §2601 et seq.; (f) all other federal, state and local laws, ordinances, regulations or written policies relating to pollution or protection of human health (as it relates to exposure to Hazardous Materials) or the environment including without limitation, air pollution, water pollution, noise control, or the use, handling, discharge, disposal or Release or recovery of on-site or off-site Hazardous Materials, as each of the foregoing may be amended from time to time, applicable to any Borrower Party; and (g) any and all regulations promulgated under or pursuant to any of the foregoing statutes.
“Environmental Liability” means any written claim, demand, obligation, cause of action, accusation or allegation, or any order, violation, damage (including, without limitation, to any Person, property or natural resources), injury, judgment, penalty or fine, cost of enforcement, cost of remedial action, clean-up, restoration or any other cost or expense whatsoever, including reasonable attorneys’ fees and disbursements resulting from the violation or alleged violation of any Environmental Law or the imposition of any Environmental Lien or otherwise arising under any Environmental Law or resulting from any common law cause of action asserted by any Person.
“Environmental Lien” means a Lien in favor of any Governmental Authority: (a) under any Environmental Law; or (b) for any liability or damages arising from, or costs incurred by, any Governmental Authority in response to the Release or threatened Release of any Hazardous Material.
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder by any Governmental Authority, as from time to time in effect.
“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control or that may become under common control with any Borrower within the meaning of Section 414(b) or (c) of the Internal Revenue Code (and Sections 414(m) and (o) of the Internal Revenue Code for purposes of provisions relating to Section 412 of the Internal Revenue Code).
“ERISA Investor” means an Investor that is: (a) an “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) subject to Title I of ERISA; (b) a “plan” (as such term is defined in Section 4975(e) of the Internal Revenue Code) subject to Section 4975 of the Internal Revenue Code; or (c) a partnership or commingled account of a fund, or any other entity, whose assets include or are deemed to include the assets of one or more such employee benefit plans or plans in accordance with Section 3(42) of ERISA.
“ERISA Investor Excluded Items” means, with respect to each ERISA Investor, any rights, titles, interests, remedies or privileges of a Borrower and its Managing Entity:
(a) in and to the rights of such ERISA Investor in a Borrower (and any appurtenant rights thereunder), including such ERISA Investor’s ownership interest therein, granted to a Borrower or its Managing Entity to secure such ERISA Investor’s obligation to fund its Capital Commitment;
(b) to debit or cause the transfer of funds from such ERISA Investor’s accounts at Goldman, Sachs & Co. LLC, Goldman Sachs International or any other Affiliate of Goldman Sachs & Co. LLC;
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(c) against such ERISA Investor under Section 6.2.1 of the relevant Governing Agreement or other remedies analogous to such provisions;
(d) to request or require such ERISA Investor to confirm the amount of, or to confirm its obligation to make payments in respect of, its uncalled Capital Commitments;
(e) to require such ERISA Investor to forfeit or sell any portion of such ERISA Investor’s ownership interests in a Borrower; and
(f) to request or require such ERISA Investor to make payment for any Capital Call other than to an account of a Borrower.
“Erroneous Payment” is defined in Section 11.11.
“Erroneous Payment Deficiency Assignment” is defined in Section 11.11.
“Erroneous Payment Return Deficiency” is defined in Section 11.11.
“Erroneous Payment Subrogation Rights” is defined in Section 11.11.
“Escrow Agent” means an escrow agent selected by Borrowers and reasonably acceptable to the Administrative Agent. As of the Closing Date, Wilmington Trust, N.A. shall be the Escrow Agent.
“Escrow Agreement” means an escrow agreement in substantially the form of Exhibit L, executed and delivered by Escrow Agent, each Borrower, its Managing Entity and Administrative Agent.
“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.
“EURIBOR” is defined in the definition of “Alternative Currency Term Rate”.
“Euro” and “€” mean the single currency of the Participating Member States.
“Event of Default” is defined in Section 10.01.
“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to a Recipient: (a) Taxes, in each case: (i) imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes imposed as a result of such Recipient being organized, formed or incorporated under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof); or (ii) that are Other Connection Taxes; (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which: (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by Borrowers under Section 12.13); or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 4.01(a)(ii) or Section 4.01(c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office; (c) Taxes attributable to such Recipient’s failure to comply with Section 4.01(e); (d) any backup withholding Tax that is required by the Internal Revenue Code to be withheld from amounts payable to such Recipient; and
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(e) any Taxes imposed pursuant to FATCA (other than any Taxes imposed as a result of the failure of a Borrower Party to comply with its obligations under FATCA).
“Exclusion Event” means the occurrence, with respect to any Included Investor, Designated Investor or PWM Investor or, if applicable, the Sponsor, Responsible Party, or Credit Provider of such Investor (such Included Investor, Designated Investor or PWM Investor hereinafter referred to as a “Defaulting Investor”), of any of the following events:
(a) if actually known to a Responsible Officer of a Borrower (or if informed by the Administrative Agent of the same), such Investor (or its Sponsor, Responsible Party or Credit Provider, as applicable) shall: (A) apply for or consent to the appointment of a receiver, trustee, custodian, intervenor, or liquidator of itself or of all or a substantial part of its assets; (B) file a voluntary petition as debtor in bankruptcy or admit in writing that it is unable to pay its debts as they become due; (C) make a general assignment for the benefit of creditors; (D) file a petition or answer seeking reorganization, liquidation or dissolution or an arrangement with creditors or take advantage of any Debtor Relief Laws; (E) file an answer admitting the material allegations of, or consent to, or default in answering, a petition filed against it in any proceeding under any Debtor Relief Laws; or (F) take any personal, partnership, limited liability company, corporate or trust, special limited partnership or private limited liability company action, as applicable, for the purpose of effecting any of the foregoing;
(b) if actually known to a Responsible Officer of a Borrower (or if informed by the Administrative Agent of the same), the commencement of any proceeding under any Debtor Relief Laws relating to such Investor (or its Sponsor, Responsible Party or Credit Provider, as applicable) or all or any material part of its respective property is instituted without the consent of such Person, and such proceeding shall remain undismissed and unstayed for a period of 30 days; or an order, judgment, or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition seeking such Investor’s (or its Sponsor’s, Responsible Party’s or Credit Provider’s, as applicable) reorganization, dissolution or liquidation, or appointing a receiver, custodian, trustee, intervenor, liquidator, administrator or similar entity, of such Person or of all or substantially all of its assets;
(c) if actually known to a Responsible Officer of a Borrower (or if informed by the Administrative Agent of the same), any final judgment(s) for the payment of money which in the aggregate exceed fifteen percent (15%) of the net worth of such Investor (or its Sponsor, Responsible Party or Credit Provider, as applicable) shall be rendered against such Person, and such judgment or judgments shall not be bonded, stayed, satisfied or discharged within 30 days;
(d) such Investor shall repudiate, challenge, or declare unenforceable its obligation to make contributions to the capital of the applicable Borrower pursuant to its Capital Commitment or a Capital Call; or such Investor shall otherwise disaffirm any material obligation under its Subscription Agreement or the applicable Governing Agreement;
(e) the Subscription Agreement of such Investor or the applicable Governing Agreement shall cease, in whole or in material part, to be a legal, valid and binding agreement enforceable against such Investor in accordance with the terms thereof or in any way be terminated or become or be declared ineffective or inoperative or in any way whatsoever cease to give or provide in material part the right, title, interest, power, privilege or remedy intended to be created thereby with respect to such Investor;
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(f) such Investor shall fail to make a Capital Contribution to the applicable Borrower on the earlier of (i) the date such Investor is in default under Section 6.2.1 of the applicable Governing Agreement and (ii) the date that is 20 calendar days after the initial due date of the applicable Capital Call (without regard to any other notice or cure period);
(g) any representation or warranty made by such Investor under the applicable Governing Agreement or its Subscription Agreement shall prove to be untrue or inaccurate in any material respect, as of the date on which such representation or warranty is made, and such Investor shall fail to cure the adverse effect of the failure of such representation or warranty within 30 days after the earlier of (i) the Administrative Agent’s delivery of notice thereof to the Borrowers and (ii) a Responsible Officer of any Borrower’s actual knowledge of such circumstance;
(h) such Investor delivers a notice of withdrawal to the applicable Borrower, or such Investor transfers its Ownership Interest in the applicable Borrower, but only with respect to the portion of such Investor’s Ownership Interest that is subject to such withdrawal or transfer;
(i) any Borrower or Managing Entity cancels, reduces, terminates or abates the Unfunded Commitment of such Investor, but only with respect to the portion of such Investor’s Ownership Interest that is subject to cancellation, reduction or termination;
(j) default shall occur in the performance by such Investor in any material respect, subject to any applicable notice or cure period, of any of the material covenants or agreements contained in its Subscription Agreement or the applicable Governing Agreement (except, in each case, as otherwise specifically addressed in this definition of Exclusion Event, in which case no grace period beyond any provided for herein shall apply), and such default shall continue uncured to the reasonable satisfaction of Administrative Agent for a period of 30 days thereof;
(k) if actually known to a Responsible Officer of a Borrower (or is informed by the Administrative Agent of the same), except as contemplated in clause (o) of this definition of Exclusion Event, the occurrence of any event which, under the terms of such Investor’s Side Letter, would cancel, excuse, terminate or abate its Unfunded Commitment or any Capital Call or otherwise adversely affect the rights of the Administrative Agent or the Lenders in respect thereof;
(l) such Investor shall fail to remain in Investor Good Standing Status;
(m) such Investor becomes a Sanctioned Person, or, to any Lender’s or Administrative Agent’s knowledge, as notified in writing to the Borrowers, such Investor’s funds to be used in connection with funding Capital Calls are derived from illegal or suspicious activities;
(n) with respect to any applicable Investor with a new or increasing Unfunded Commitment as a result of a Replacement Action, the PWM 20/30 Delivery Requirement or Institutional Investor Delivery Requirement, as applicable, has not been satisfied with respect to such Investor or such Investor (if an Institutional Investor) fails to be designated as an Included Investor or Designated Investor pursuant to its subject Final Inclusion Determination;
(o) in connection with any Borrowing, such Investor is excused or exempted from funding a Capital Call with respect to a Portfolio Investment being acquired or otherwise funded with the proceeds of the related Borrowing (or a Responsible Officer of the applicable Borrower has actual knowledge that such Investor will be entitled to exercise an excuse or exemption right under the applicable Governing Agreement, its Subscription Agreement or its Side Letter); provided that only the portion of such Investor’s Eligible Unfunded Commitments which would
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otherwise be contributed to fund such Portfolio Investment or repay the related Borrowing shall be excluded from the applicable Borrower’s Borrowing Base;
(p) if actually known to a Responsible Officer of a Borrower (or is informed by the Administrative Agent of the same), in the case of such Investor (or its Sponsor, Responsible Party or Credit Provider, as applicable), the occurrence of any circumstance or event which: (A) other than with respect to any Rated Investor, could reasonably be expected to have a material and adverse effect on the financial condition or business operations of such Investor; or (B) could reasonably be expected to impair, impede, or jeopardize the obligation and the liability of such Investor to fulfill its obligations under its Subscription Agreement or the applicable Governing Agreement;
(q) if actually known to a Responsible Officer of a Borrower (or is informed by the Administrative Agent of the same) such Investor shall encumber its interest in the applicable Borrower and the related Lien holder shall commence the exercise of remedies with respect to such interest;
(r) the Administrative Agent ceases to have a perfected first-priority security interest in the Unfunded Commitment of such Investor (subject to Permitted Liens), other than by reason of actions or inactions of the Administrative Agent or Lenders;
(s) such Investor shall have entered into any Side Letter, made any change to any existing Side Letter or made any Side Letter Election, in each case after the date hereof, which Side Letter, change or election, respectively, is not reasonably acceptable to Administrative Agent in its sole discretion;
(t) such Investor is a Prohibited Person;
(u) if actually known to a Responsible Officer of a Borrower (or is informed by the Administrative Agent of the same), in the case of each Rated Investor, it (or its Sponsor, Responsible Party or Credit Provider, as applicable), fails to maintain its Applicable Requirement as required in the definition of Applicable Requirement hereof;
(v) if actually known to a Responsible Officer of a Borrower (or is informed by the Administrative Agent of the same), in the case of each Non-Rated Investor, it fails to maintain a net worth (determined in accordance with GAAP), measured at the end of each fiscal year of such Non-Rated Investor, of at least 75% of the net worth of such Non-Rated Investor (the “Baseline Net Worth”) as of: (A) the fiscal year which ended on or immediately prior to the Closing Date, if the Investor was an Included Investor (or was pre-approved as an Included Investor, pursuant to written agreement of Administrative Agent) on the Closing Date; or (B) the fiscal year for which Administrative Agent has financial information which ended on or immediately prior to the date of its designation as an Included Investor (in the case not covered by clause (A) above) (the Baseline Net Worth for any Non-Rated Investor so designated will be set forth on Schedule 2.01, and if any Non-Rated Investors are so designated after the date of this Credit Agreement, an updated Schedule 2.01 will be prepared by Administrative Agent and delivered to the Borrower Parties to replace the existing Schedule 2.01); or
(w) Administrative Agent is unable to obtain, from publicly-available sources, annual financial statements for any Non-Rated Investor within 90 days following the end of the applicable fiscal year of such Non-Rated Investor, for any fiscal year prior to the Maturity Date, reported on by independent public accountants to the extent applicable, and such Investor fails, within 30 days
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after written request from a Borrower or Administrative Agent with respect to any fiscal year ended at least 90 days prior to such request, to deliver such annual financial statements to such Borrower or Administrative Agent as required by Administrative Agent in order to continue to designate such Investor as an Included Investor hereunder.
Any Investor that is a Defaulting Investor shall cease to be considered a Defaulting Investor (and, therefore, its Eligible Unfunded Commitment shall be re-included in the applicable Borrower’s Borrowing Base) when the circumstances giving rise to the Exclusion Event resulting in such Investor being a Defaulting Investor shall have been cured to the satisfaction of the Administrative Agent (and the Administrative Agent shall promptly notify Borrowers thereof and shall not unreasonably withhold, delay or condition such notification).
“Facility Extension Request” means a notice substantially in the form of Exhibit O attached hereto pursuant to which the Borrowers request an extension of the Stated Maturity Date in accordance with Section 2.18.
“Facility Increase Fee” means a fee as agreed by Borrowers and Administrative Agent in a separate fee letter agreement.
“Facility Increase Request” means a notice in substantially the form of Exhibit M attached hereto pursuant to which Borrowers request an increase of the Commitments in accordance with Section 2.17.
“FATCA” means Sections 1471 through 1474 of the Internal Revenue Code, as of the date of this Credit Agreement (or any amended or successor version that is substantively comparable), any current or future regulations thereunder or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Internal Revenue Code, or any U.S. or non-U.S. fiscal, tax or regulatory legislation, rules, guidance notes or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such sections of the Internal Revenue Code, the U.S. treasury regulations thereunder or analogous provisions of non-U.S. law.
“Federal Funds Rate” means, for any day, the rate per annum calculated by the Federal Reserve Bank of New York based on such day’s federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate; provided that if the Federal Funds Rate as so determined would be less than the Floor, such rate shall be deemed to be the Floor for purposes of this Credit Agreement.
“Final Inclusion Determination” is defined in Section 9.05(d)(i).
“Finance Lease” means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which, in accordance with Generally Accepted Accounting Principles, is or should be accounted for as a capital lease on the balance sheet of that Person and the amount of such obligation shall be the capitalized amount thereof determined in accordance with Generally Accepted Accounting Principles.
“Floor” means zero.
“Foreign Person” means any Recipient that is not a U.S. Person.
“Fronting Exposure” means, at any time there is a Defaulting Lender, with respect to the Letter of Credit Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding Letter of Credit
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Obligations other than Letter of Credit Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof.
“Full Repayment Capital Call” is defined in Section 10.03(b).
“Funding Party” means any Lender.
“Funding Ratio” means: (a) for a Governmental Plan Investor, the actuarial present value of the assets of the plan over the actuarial present value of the plan’s total benefit liabilities, as reported in such plan’s most recent audited financial statements; and (b) for an ERISA Investor; (i) the fair market value of the plan’s assets as defined under Section 430(g)(3) of the Code, unreduced for any prefunding balance or funding standard carryover balance as defined and provided for in Section 430(f) of the Code; over (ii) the plan’s funding target, as defined under Section 430(d) of the Code, without regard to the special at-risk rules of Section 430(i) of the Code, with each value as reported on the most recently filed Schedule SB to the Form 5500 by such plan with the United States Department of Labor.
“FX Reserve Amount” shall mean an amount equal to the Dollar Equivalent of the aggregate sum of the principal amount of Loans denominated in an Alternative Currency times the Reserve Percentage for such Alternative Currency.
“Generally Accepted Accounting Principles” means those generally accepted accounting principles and practices as in effect from time to time that are recognized as such by the American Institute of Certified Public Accountants or by the Financial Accounting Standards Board or through other appropriate boards or committees thereof, and that are consistently applied for all periods, after the date hereof, so as to properly reflect the financial position of Borrowers, except that any accounting principle or practice required to be changed by the Financial Accounting Standards Board (or other appropriate board or committee of the said board) in order to continue as a generally accepted accounting principle or practice may be so changed.
“Goldman Sachs” means (a) The Goldman Sachs Group, Inc. (or any successor to its business), (b) Goldman, Sachs & Co. LLC, (c) Goldman Sachs Asset Management, LP, (d) the Investment Management Division of The Goldman Sachs Group, Inc., and the respective subsidiaries and affiliates of the entities in clauses (a), (b), (c) or (d) above.
“Governing Agreement” means (a) with respect to Initial Borrower, the Initial Borrower Operating Agreement, and (b) with respect to any other Borrower, the partnership agreement or operating agreement, as applicable of such Borrower, including, without limitation, any applicable Side Letters, as it may be further amended, restated or supplemented from time to time. References to the Governing Agreement, unless otherwise specified, will be deemed to be references to the Governing Agreement of Initial Borrower, but will refer, as applicable, to the equivalent provisions of the Governing Agreement of any other applicable Person.
“Governmental Authority” means any foreign governmental authority, the United States of America, any State of the United States of America, and any subdivision of any of the foregoing, and any agency, department, commission, board, authority or instrumentality, bureau or court having jurisdiction over any Borrower Party, any Qualified Borrower, any Managing Entity, Administrative Agent, any Agent, any Lender, or any of their respective businesses, operations, assets, or properties.
“Governmental Plan Investor” means an Investor that is a governmental plan as defined in Section 3(32) of ERISA.
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“GS Persons” means Goldman Sachs directors, officers and employees, and their spouses, and other SOX Insiders.
“Guaranty Obligations” means, with respect to any Person, without duplication, any obligations (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing any Indebtedness of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent: (a) to purchase any such Indebtedness or any property constituting security therefor; (b) to advance or provide funds or other support for the payment or purchase of such Indebtedness or to maintain working capital, solvency or other balance sheet condition of such other Person (including, without limitation, maintenance agreements, comfort letters, take or pay arrangements, put agreements or similar agreements or arrangements) for the benefit of the holder of Indebtedness of such other Person; (c) to lease or purchase property, securities or services primarily for the purpose of assuring the owner of such Indebtedness; or (d) to otherwise assure or hold harmless the owner of such Indebtedness against loss in respect thereof.
“Hazardous Material” means any substance, material, or waste which is or becomes regulated, under any Environmental Law, as hazardous to public health or safety or to the environment, including, but not limited to: (a) any substance or material designated as a “hazardous substance” pursuant to Section 311 of the Clean Water Act, as amended, 33 U.S.C. §1251 et seq., or listed pursuant to Section 307 of the Clean Water Act, as amended; (b) any substance or material defined as “hazardous waste” pursuant to Section 1004 of the Resource Conservation and Recovery Act, as amended, 42 U.S.C. §6901 et seq.; (c) any substance or material defined as a “hazardous substance” pursuant to Section 101 of the Comprehensive Environmental Response, Compensation and Liability Act, as amended, 42 U.S.C. §9601 et seq.; or (d) petroleum, petroleum products and petroleum waste materials.
“Honor Date” is defined in Section 2.07(c)(i).
“Hurdle Satisfaction Period” means, during the then-applicable period of time for which, exclusive of Returned Capital, 40% of the aggregate Capital Commitments have been called and funded.
“Included Investor” means an Institutional Investor (and the approved portion of its Capital Commitments): (a)(i) that is a Rated Investor that has (or that has a Credit Provider that has) met the Applicable Requirement for an Included Investor as reasonably determined by Administrative Agent, and at the request of Borrower has been approved in writing as an Included Investor by Administrative Agent; or (ii) that is a Non-Rated Investor that does not meet the Applicable Requirement but at the request of Borrower has been designated by Administrative Agent and all Lenders (each in its sole discretion) as an Included Investor based on such Investor’s financial strength, and (b) that has delivered to Administrative Agent the information and documents, as applicable, described in Section 6.01(l) or, with respect to a Replacement Action, described in Section 9.05(d)(i), and, each as evidenced in a writing executed by Administrative Agent; provided (x) that once an Institutional Investor has been approved as an Included Investor as set forth above, such approval may not be withdrawn after the effective date except as provided below in clause (y) of this definition; and (y) that a Defaulting Investor shall no longer be an Included Investor until such time as all Exclusion Events affecting such Investor have been cured to the reasonable satisfaction of Administrative Agent as indicated by Administrative Agent’s prompt consent (not to be unreasonably withheld conditioned or delayed) upon notification thereof to Borrowers.
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“Inclusion Percentage” means, at any time the same is to be determined with respect to each Eligible Investor, the percentage which results in an aggregate amount of the Unfunded Commitment of such Investor at such time not exceeding the applicable Concentration Limit (as set forth below) for such Investor at such time as a percentage of the Unfunded Commitments of all Eligible Investors at such time:
Investor |
Concentration Limit (as a percentage of Unfunded Commitments of Eligible Investors) |
Designated Investors |
5.0% |
PWM Investors |
3.0% |
|
|
For purposes of calculating the Inclusion Percentage and Concentration Limit, the Investors of all Borrowers shall be considered (without duplication) on an aggregate/single pool basis.
“Increasing Lender” is defined in Section 2.17(a).
“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with Generally Accepted Accounting Principles:
(a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments representing extensions of credit;
(b) all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties and similar instruments;
(c) all net obligations of such Person under any Swap Contract;
(d) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable incurred in the ordinary course of business);
(e) all indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being acquired by such Person (excluding indebtedness arising under conditional sales or other title retention agreements incurred in the ordinary course of business), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;
(f) all Finance Leases and Synthetic Lease Obligations; and
(g) all Guaranty Obligations of such Person in respect of any of the foregoing.
For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation, limited liability company or other limited liability entity) in which such Person is a general partner or a joint venturer for which such Person shall have liability as a result of its joint venture interest, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any Finance Lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date.
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“Indemnified Taxes” means (a) Taxes other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Borrower Party under any Loan Document and (b) to the extent not otherwise described in clause (a) hereof, Other Taxes.
“Indemnitee” is defined in Section 12.06(b).
“Information” is defined in Section 12.18.
“Initial Borrower” is defined in the preamble to this Credit Agreement.
“Initial Borrower Operating Agreement” means that certain Second Amended and Restated Limited Liability Company Agreement of Initial Borrower dated as of March 21, 2019, including, without limitation, any applicable Side Letters, as it may be further amended, restated or supplemented from time to time.
“Institutional Investor” means an Investor other than a PWM Investor.
“Institutional Investor Delivery Requirement” is defined in Section 9.05(d)(i).
“Interest Option” means each of Term SOFR, any Alternative Currency Term Rate, Daily SONIA and the Alternative Base Rate.
“Interest Payment Date” means (i) for Base Rate Loans and Daily SONIA Loans, the last Business Day of each fiscal quarter and the Maturity Date, (ii) for Term SOFR Loans and Alternative Currency Term Rate Loans, the last Business Day of each Interest Period and the Maturity Date (provided, however, that if any Interest Period for a Term SOFR Loan or Alternative Currency Term Rate Loan exceeds three months, each of the respective dates that fall every three months after the beginning of such Interest Period shall also be an Interest Payment Date); and (iii) for any Unused Commitment Fee, the 5th Business Day of each calendar quarter and the Maturity Date; provided, however that after the Maturity Date, any Business Day selected from time to time by Administrative Agent shall be an Interest Payment Date.
“Interest Period” means, with respect to any Term SOFR Loan or Alternative Currency Term Rate Loan, a period commencing: (a) on the Loan Date of such Loan; or (b) on the termination date of the immediately preceding Interest Period in the case of a continuation of such Loan to a successive Interest Period as described in Section and ending one month, three months, or, subject to availability, six months thereafter, each as a Borrower Party shall elect in accordance with Section 2.02; provided, however, that if the Interest Period would otherwise end after the Maturity Date, such Interest Period shall end on the Maturity Date; provided, further that any tenor removed from this definition pursuant to Section 4.08(d) shall not be available.
“Internal Revenue Code” means the United States Internal Revenue Code of 1986, as amended.
“Investment Capital Call” is defined in Section 5.02(c).
“Investment Capital Contribution” is defined in Section 5.02(c).
“Investment Company Act” means the Investment Company Act of 1940 and the rules and regulations promulgated thereunder, as amended to the date hereof and from time to time hereafter, and any successor Investment Company Act.
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“Investment Manager” means Goldman Sachs Asset Management, L.P. or any other Affiliate of Goldman Sachs which is acting as Investment Manager pursuant to the Investment Management Agreement between Borrowers and the Investment Manager.
“Investment Mandatory Prepayment Event” is defined in Section 5.02(c).
“Investor” means any Managing Entity or any one of the members of a Borrower. Except as otherwise expressly specified herein, for all purposes of this Credit Agreement, the Investors of each Borrower shall be considered (without duplication) on an aggregate/single pool basis.
“Investor Good Standing Status” means, (a) with respect to any Investor, such Investor is in compliance in all material respects with its material obligations under its Subscription Agreement and the Governing Agreement, (b) with respect to any PWM Investor, such PWM Investor is a client of the Private Wealth Management Division of Goldman, Sachs & Co. LLC, Goldman Sachs International or Goldman Sachs Bank AG, as applicable, and (c) with respect to any PWM Investor or any Institutional Investor, to the actual knowledge of a Responsible Officer of any Borrower, such PWM Investor or Institutional Investor is not in violation or breach of any material obligations to the Private Wealth Management Division of Goldman, Sachs & Co. LLC, Goldman Sachs International or Goldman Sachs Bank AG or any fund sponsored by any Affiliate of Goldman Sachs.
“IRS” means Internal Revenue Service.
“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance).
“Issuer Documents” means with respect to any Letter of Credit, the Request for Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the Letter of Credit Issuer and a Borrower Party or in favor of the Letter of Credit Issuer and relating to any such Letter of Credit, including, as applicable, any documentation relating to Cash Collateral (which may include, without limitation, the Assignment of Capital Contribution Account).
“Judgment Currency” is defined in Section 12.19.
“KYC Compliance” is defined in Section 7.27.
“L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.
“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing.
“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.
“Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law.
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“Lender” or “Lenders” means: (a) each Lender listed on the signature pages hereof; and (b) any other Person that becomes a party to this Credit Agreement as a Lender pursuant to the terms hereof, and any assignees thereof that shall become party hereto pursuant to Section 12.11 (but not any Participant that is not otherwise a party to this Credit Agreement).
“Lender Joinder Agreement” means an agreement substantially in the form of Exhibit N, pursuant to which a new Lender joins this Credit Agreement as contemplated by Section 2.17(a)(vii).
“Lending Office” means, as to any Lender, the office or offices of such Lender (or an affiliate of such Lender) described as such in such Lender’s Administrative Questionnaire delivered to Administrative Agent, or such other office or offices as a Lender may from time to time notify Borrowers and Administrative Agent.
“Letter of Credit” means any standby letter of credit issued hereunder providing for the payment of cash upon the honoring of a presentation thereunder by the Letter of Credit Issuer pursuant to Section 2.07 either as originally issued or as the same may, from time to time, be amended or otherwise modified or extended.
“Letter of Credit Application” means an application and agreement for a Letter of Credit by and between a Borrower Party and the Letter of Credit Issuer in a form acceptable to the Letter of Credit Issuer (and customarily used by it in similar circumstances) and conformed to the terms of this Credit Agreement, either as originally executed or as it may from time to time be supplemented, modified, amended, renewed, or extended; provided, however, to the extent that the terms of such Letter of Credit Application are inconsistent with the terms of this Credit Agreement, the terms of this Credit Agreement will control.
“Letter of Credit Cash Collateralization Date” means the day that is the earlier of: (a) 30 days prior to the Stated Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day); (b) the Maturity Date; or (c) the date upon which Administrative Agent declares the Obligations due and payable after the occurrence of an Event of Default.
“Letter of Credit Fee” is defined in Section 2.12(a).
“Letter of Credit Issuer” means Union BankMUFG in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.
“Letter of Credit Obligations” means the Dollar Equivalent of the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For all purposes of this Credit Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, or because a pending drawing submitted on or before the expiration date of such Letter of Credit has not yet been honored, such Letter of Credit is deemed to be “outstanding” in the amount so remaining available to be drawn.
“Letter of Credit Sublimit” means, at any time, 0% of the Available Loan Amount at such time.
“Lien” means any lien, assignment by way of security, mortgage, security interest, tax lien, pledge, charge, hypothecation, encumbrance, or conditional sale or title retention arrangement, or any other interest in property designed to secure the repayment of indebtedness, whether arising by agreement or under common law, any statute or other law, contract, or otherwise.
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“Loan” means an extension of credit by a Lender to a Borrower Party hereunder in the form of a Base Rate Loan, a Term SOFR Loan, an Alternative Currency Term Rate Loan or a Daily SONIA Loan.
“Loan Date” is defined in Section 2.02(a).
“Loan Documents” means this Credit Agreement, the Notes (including any renewals, extensions, re-issuances and refundings thereof), each Letter of Credit Application, each of the Collateral Documents, each Borrower Guaranty, each Assignment and Assumption, and any other agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.16 of this Credit Agreement, and any other agreement, instrument or other writing executed and delivered to Administrative Agent or any Lender by any Borrower Party or any Managing Entity in connection herewith or therewith, and all amendments, supplements, modifications, exhibits and schedules to any of the foregoing.
“Loan Notice” means a notice of: (a) a Borrowing; (b) a conversion of Loans from one Type of Loan to the other; or (c) a continuation of Term SOFR Loan or an Alternative Currency Term Rate Loan, pursuant to Section 2.02(e), which, if in writing other than via email, shall be substantially in the form of Exhibit B-1.
“Managing Entity” means with respect to any Borrower, other than Initial Borrower (or any other Borrower that is managed similarly to the Initial Borrower, not by a managing member, general partner or equivalent), its managing member, general partner or equivalent party, each as the context may require. As of the Closing Date, Initial Borrower has no Managing Entity. Any reference to a Managing Entity in this Credit Agreement shall not be applicable until such time as a Borrower with a Managing Entity becomes a party to this Credit Agreement.
“Mandatory Prepayment Amount” is defined in Section 3.05.
“Mandatory Prepayment Due Date” is defined in Section 3.05.
“Mandatory Prepayment Event” is defined in Section 3.05.
“Margin Stock” shall have the meaning assigned to such term in Regulation U.
“Material Adverse Effect” means: (a) a material adverse effect upon, the operations, business, or financial condition of Borrowers and their Subsidiaries taken as a whole; (b) a material impairment of the ability of Borrowers, taken as a whole, to perform their obligations under any Loan Document to which they are a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against Borrowers and the Managing Entities, taken as a whole of any Loan Document to which it is a party.
“Maturity Date” means the earliest of: (a) the Stated Maturity Date; (b) the date upon which Administrative Agent declares the Obligation due and payable after the occurrence of an Event of Default in accordance with Sections 10.02 and 10.03; (c) the date 45 days prior to the date upon which any Borrower’s ability to call the Unfunded Commitments of the Investors to repay the Obligations terminates; or (d) the date upon which Borrowers terminate the Commitments in full pursuant to Section 3.07 or otherwise.
“Maximum Commitment” means, at any time, an amount equal to the aggregate amount of the Commitments (as such amount may be increased from time to time after the date hereof pursuant to Section 2.17 or reduced from time to time after the date hereof by Borrowers pursuant to Section 3.07). As of the Closing Date the Maximum Commitment is $125,000,000.
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“Maximum Rate” means, on any day, the highest rate of interest (if any) permitted by applicable law on such day.
“Minimum Collateral Amount” means, at any time: (a) with respect to Cash Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during the existence of a Defaulting Lender, an amount equal to 100% of the Fronting Exposure of the Letter of Credit Issuer with respect to Letters of Credit issued and outstanding at such time; (b) with respect to Cash Collateral consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.16(a)(i), (a)(ii) or (a)(iii), an amount equal to 100% of the outstanding amount of all Letter of Credit Obligations; and (c) otherwise, an amount determined by Administrative Agent and the Letter of Credit Issuer in their sole discretion not to exceed 105% of the applicable Obligations.
“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.
“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which a Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions.
“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including any Borrower or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.
“Non-Defaulting Lender” means any Lender other than a Defaulting Lender.
“Non-Rated Investor” means any Institutional Investor that does not have a Rating (and whose Credit Provider, Sponsor, or Responsible Party does not have a Rating).
“No Plan Asset Certificate” means a certificate from the applicable Managing Entity (or, if no Managing Entity, the applicable Borrower), in a form reasonably acceptable to Administrative Agent, (i) certifying that, based on consultation with counsel and in reliance on representations by Investors in the applicable Borrower as of the date of such certificate, “benefit plan investors” (as defined in Section 3(42) of ERISA) hold less than 25% of the total value of each class of equity interests in such Borrower (calculated in accordance with Section 3(42) of ERISA) and, accordingly, the underlying assets of such Borrower do not constitute Plan Assets and (ii) covenanting that at all times following the date of such certificate less than 25% of the total value of each class of equity interests in the applicable Borrower (calculated in accordance with Section 3(42) of ERISA) will continue to be held by “benefit plan investors” (as defined in Section 3(42) of the ERISA) until such time, if any, that such Borrower delivers to Administrative Agent an Operating Company Opinion.
“Notes” means the promissory notes provided for in Section 3.01, and all promissory notes delivered in substitution or exchange therefor, as such notes may be amended, restated, reissued, extended or modified, including, without limitation, the Qualified Borrower Promissory Notes.
“Obligations” means all present and future indebtedness, obligations, and liabilities of any Borrower Party to any of the Secured Parties or Administrative Agent, and all renewals and extensions thereof, or any part thereof (including, without limitation, Loans and all interest accruing thereon and Letter of Credit Obligations and Erroneous Payment Subrogation Rights), or any part thereof, arising pursuant to this Credit Agreement (including, without limitation, the indemnity provisions hereof) or represented by the Notes and each Letter of Credit Application, regardless of whether such indebtedness, obligations, and liabilities are direct, indirect, fixed, contingent, joint, several, or joint and several; together with all indebtedness, obligations, and liabilities of any Borrower Party to any of the Secured Parties or Administrative Agent evidenced or arising pursuant to any of the other Loan Documents, and all renewals and extensions thereof, or any part thereof.
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“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury.
“Operating Company” means an “operating company” within the meaning of Section 2510.3‑101(c) of the Plan Assets Regulation.
“Operating Company Certificate” means a certificate from a Borrower, delivered by the relevant Responsible Officer of such Borrower, in a form reasonably acceptable to Administrative Agent, certifying that, based upon consultation with counsel, such Borrower has met the requirements to be an Operating Company for the 12-month period following the end for the Annual Valuation Period for such Borrower.
“Operating Company Opinion” means a written opinion of counsel to the applicable Borrower as to the status of such Borrower as an Operating Company as of the date of its first investment (other than short term investments pending long-term investment or distribution).
“Other Claims” is defined in Section 5.04.
“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).
“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 4.06).
“Overnight Rate” means, for any day: (a) with respect to any amount denominated in Dollars, the greater of: (i) the Federal Funds Rate and (ii) an overnight rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation and consistent with the Administrative Agent’s normal business practices; and (b) with respect to any amount denominated in an Alternative Currency, the rate of interest per annum at which overnight deposits in the applicable Alternative Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of MUFG in the applicable offshore interbank market for such currency to major banks in such interbank market.
“Ownership Interest” of any Investor means the membership interest of such Investor in any Borrower under the applicable Governing Agreement.
“Participant” is defined in Section 12.11(e).
“Participant Register” is defined in Section 12.11(e).
“Participating Member State” means any member state of the European Union that has the Euro as its lawful currency in accordance with legislation of the European Union relating to Economic and Monetary Union.
“Patriot Act” is defined in Section 12.20.
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“Payment Recipient” is defined in Section 11.11.
“Pending Capital Call” means any Capital Call that has been made upon the Investors and that has not yet been funded by the applicable Investor, but with respect to which such Investor is not in default.
“Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed to by a Borrower and any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Internal Revenue Code.
“Permitted Distributions” means: (a) Permitted RIC Distributions; (b) pro rata dividends or distributions from any Qualified Borrower to its holders of equity, including the Initial Borrower; and (c) dividends or distributions of common equity interests in a Borrower.
“Permitted Investments” means: (a) savings, money market or other interest bearing accounts of the Administrative Agent, any Lender or any other financial institution with a short-term credit rating of “A-1” by S&P and “P-1” by Moody’s (including securities issued by the Goldman Sachs ILA Prime Obligations Fund, so long as it has such ratings); (b) debt instruments issued or guaranteed by the United States or its agencies or instrumentalities, including, without limitation, treasury bills, notes and bonds; (c) commercial paper of domestic corporations, which has received a rating of A-1 or P-1 or its equivalent from either of Moody’s or S&P and/or has been unconditionally guaranteed by an entity which has received an equivalent credit rating by either of Moody’s or S&P; (d) money market mutual funds with assets of at least $750,000,000, substantially all of which assets consist of obligations of the type described in the foregoing clauses; (e) similar quality short term investments; or (f) cash and cash equivalents.
“Permitted Liens” means (a) Liens for claims that are not yet due with respect to Taxes, assessments or charges of any Governmental Authority or otherwise arising as a matter of Law or other non-consensual Liens being contested in good faith for which adequate reserves or other appropriate provisions are being maintained in accordance with Generally Accepted Accounting Principles, (b) subject to the Account Control Agreements, bankers’ Liens in favor of the custodian, depository bank or securities intermediary at which any Collateral Account is held or other similar Liens (including the right of set-off) on any such account and items held in, deposited in or credited to any such account, and (c) Liens on Portfolio Investments.
“Permitted RIC Distributions” means, with respect to each taxable year, any dividends or distributions determined by a Borrower in good faith to be required to be made in order to maintain such Borrower’s tax status under Section 852 of the Internal Revenue Code, as certified by such Borrower to Administrative Agent in a RIC Distribution Notice delivered to Administrative Agent at least 10 days prior to the applicable distribution.
“Person” means an individual, sole proprietorship, joint venture, association, trust, estate, business trust, corporation, non-profit corporation, partnership, special limited partnership or private limited liability company, sovereign government or agency, instrumentality, or political subdivision thereof, or any similar entity or organization.
“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees of a Borrower or any ERISA Affiliate or any such Plan to which a Borrower or any ERISA Affiliate is required to contribute on behalf of any of its employees.
“Plan Asset Regulation” means 29 C.F.R. §2510.3-101, et seq., as modified by Section 3(42) of ERISA.
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“Plan Assets” means “plan assets” within the meaning of the Plan Asset Regulation.
“Portfolio Investment” shall mean an “Investment” as such term is defined in the Initial Borrower’s Operating Agreement.
“Prime Rate” shall mean, on any day, the rate of interest per annum then most recently established by MUFG as its “prime rate”. The “prime rate” is a rate set by MUFG based upon various factors including MUFG’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by MUFG shall take effect at the opening of business on the day specified in the public announcement of such change.
“Principal Obligation” means the sum of: (a) the Dollar Equivalent of the aggregate outstanding principal amount of the Loans; (b) the Dollar Equivalent of the Letter of Credit Obligations. The Principal Obligation of any Lender at any time shall be its Applicable Percentage of the total Principal Obligation at such time.
“Prohibited Person” means any GS Person.
“Projections” is defined in Section 7.08.
“Property” means any real property, improvements thereon and any leasehold or similar interest in real property which is owned by any Borrower Party, or secures any investment of any Borrower Party.
“PWM 20/30 Delivery Requirement” is defined in Section 9.05(d)(ii).
“PWM Investors” means Investors that are clients of the Goldman Sachs Private Wealth Management Division which are high net worth individuals (or entities controlled by such individuals); for which a Borrower has delivered to the Escrow Agent the information and documents described in Section 6.01(l) and, with respect to a Replacement Action, Section 9.05(d)(ii); provided that a Defaulting Investor shall not be a PWM Investor unless (and until such time as) all Exclusion Events affecting such Investor have been cured to the reasonable satisfaction of the Administrative Agent as indicated by Administrative Agent’s prompt consent (not to be unreasonably withheld, conditioned or delayed) upon notification thereof to Borrowers.
“Qualified Borrower” means any entity, which entity may be organized, formed or incorporated in the United States or outside of the United States, in which a Borrower owns a direct or indirect ownership interest or through which a Borrower will acquire an investment, the indebtedness of which entity can be guaranteed by the applicable Borrower pursuant to the terms of the applicable Governing Agreement, and which entity has executed a Qualified Borrower Promissory Note and in respect of which entity the applicable Borrower has executed a Borrower Guaranty; provided that no entity shall be a Qualified Borrower unless the Administrative Agent has consented thereto in its reasonable discretion.
“Qualified Borrower Promissory Note” means a promissory note executed and delivered by a Qualified Borrower, in substantially the form of Exhibit C attached hereto, the payment of which is guaranteed by Borrowers pursuant to a Borrower Guaranty.
“Qualified Purchaser” means a “qualified purchaser” within the meaning of Section 2(a)(51) of the Investment Company Act.
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“Rate Determination Date” means, with respect to any day, (a) for Base Rate Loans calculated with respect to Term SOFR, two (2) U.S. Government Securities Business Days prior to such day; (b) for Term SOFR Loans calculated with respect to Term SOFR, two (2) U.S. Government Securities Business Days prior to the commencement of the applicable Interest Period; and (c) for all other Benchmarks, two (2) Business Days prior to the commencement of the applicable Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market, as determined by Administrative Agent; provided that, to the extent such market practice is not administratively feasible for Administrative Agent, such other day as otherwise reasonably determined by Administrative Agent).
“Rated Investor” means any Institutional Investor that has a Rating (or that has a Credit Provider, Sponsor, or Responsible Party that has a Rating).
“Rating” means, for any Person, its senior unsecured debt rating (or equivalent thereof, such as, but not limited to, a corporate credit rating, issuer rating/insurance financial strength rating (for an insurance company), general obligation rating (for a governmental entity), or revenue bond rating (for an educational institution)) from either of S&P or Moody’s.
“Rating Agencies” means S&P, Moody’s and Fitch Ratings, Inc., or any other nationally-recognized statistical rating agency which has been approved by the Administrative Agent in its reasonable discretion.
“Recipient” means Administrative Agent, any Secured Party or any other recipient of any payment to be made by or on account of any obligation of any Borrower Party hereunder.
“Register” is defined in Section 12.11(d).
“Reference Time” with respect to any setting of any then-current Benchmark means (a) if such Benchmark is SOFR, 11:00 a.m. (New York City time) on the Rate Determination Date, (b) if such Benchmark is CDOR, 10:00 a.m. (Toronto time) on the Rate Determination Date, (c) if such Benchmark is EURIBOR, 11:00 a.m. (Brussels time) on the Rate Determination Date, and (d) otherwise, the time determined by the Administrative Agent in its reasonable discretion.
“Regulation U” means Regulation U of the Board of Governors of the Federal Reserve System, from time to time in effect, and shall include any successor or other regulation relating to reserve requirements or margin requirements, as the case may be, applicable to member banks of the Federal Reserve System.
“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates.
“Release” means any release, spill, emission, leaking, pumping, injection, deposit, disposal, discharge, dispersal, leaching, or migration of Hazardous Materials into the environment, or into or out of any Property, including the movement of any Hazardous Material through or in the air, soil, surface water, groundwater, of any Property.
“Relevant Governmental Body” means, with respect to any given Benchmark, (a) the central bank for the currency applicable to such Benchmark or any central bank or other supervisor that is responsible for supervising either (i) such Benchmark or (ii) the administrator of such Benchmark or (b) any working group or committee officially endorsed or convened by (i) the central bank for the currency applicable to such Benchmark, (ii) any central bank or other supervisor that is responsible for supervising either (A) such
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Benchmark or (B) the administrator of such Benchmark, (iii) a group of those central banks or other supervisors or (iv) the Financial Stability Board or any part thereof.
“Repayment Notice” means a notice of prepayment pursuant to Section 3.06, which shall be substantially in the form of Exhibit B-3.
“Replacement Action” is defined in Section 9.05(b).
“Request for Credit Extension” means: (a) with respect to a Borrowing or any conversion or continuation of any Borrowing, a Loan Notice; and (b) with respect to an L/C Credit Extension, the related Request for Letter of Credit and Letter of Credit Application.
“Request for Letter of Credit” means a request for the issuance of a Letter of Credit substantially in the form of Exhibit B-2 attached hereto.
“Required Lenders” means, at any time, Lenders having a Principal Obligation and unused Commitments representing at least 50.1% of the sum of the total Principal Obligation and unused Commitments at such time; provided that in determining such percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the pro-rata shares of the aggregate Principal Obligation and unused Commitments of Lenders shall be redetermined for voting purposes only, to exclude the pro-rata shares of the aggregate Principal Obligation and unused Commitments of such Defaulting Lenders; provided further that, the amount of any participation in any Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender will be deemed to be held by the Lender that is Letter of Credit Issuer in making such determination; provided further that at all times when two or more non-affiliated Lenders (other than Defaulting Lenders) are party to this Credit Agreement, the term “Required Lenders” shall in no event mean fewer than two non-affiliated Lenders.
“Reserve Percentage” means, as of any date of determination, a percentage determined in the reasonable discretion of the Administrative Agent to account for foreign exchange volatility, in each case using a methodology that is sufficient to cover the three-month foreign exchange exposure of the Lenders at such date of determination at a 95% confidence interval as calculated using Bloomberg BGN source data on the FXFM screen of Bloomberg. The Administrative Agent shall promptly report to the Borrowers the Reserve Percentage (and its calculation thereof in reasonable detail) upon each use of “Reserve Percentage” and from time to time upon request by any Borrower.
“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.
“Responsible Officer” means: (a) in the case of a corporation, its president, senior vice president, any vice president or treasurer, and, in any case where two Responsible Officers are acting on behalf of such corporation, the second such Responsible Officer may be a secretary or assistant secretary; (b) in the case of a limited partnership or special limited partnership, the Responsible Officer of the general partner (or if the general partner has no officers, a Responsible Officer of the general partner of the general partner), acting on behalf of such general partner in its capacity as general partner; and (c) in the case of a limited company, or a private limited liability company, a director, manager, officer or the Responsible Officer of the director (if a corporate entity) or the managing member, acting on behalf of such managing member in its capacity as managing member; in each case limited to the individuals listed on Schedule 8.01 hereto updated from time to time by Borrowers with written notice to the Administrative Agent.
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“Responsible Party” means, for any Governmental Plan Investor: (a) if the state under which the Governmental Plan Investor operates is obligated to fund the Governmental Plan Investor and is liable to fund any shortfalls, the state; and (b) otherwise, the Governmental Plan Investor itself.
“Returned Capital” means, for any Investor those funds returned or distributed to such Investor by the applicable Borrower and/or the applicable Managing Entity which is added back to such Investor’s Unfunded Commitment pursuant to the applicable Governing Agreement or otherwise; in each case which amounts have been sufficiently detailed and set forth as “Returned Capital” on the Borrowing Base Certificate; provided that the failure of the applicable Person to set forth such information on the Borrowing Base Certificate shall result in the exclusion of such amount from “Returned Capital.”
“Revaluation Date” means, with respect to any Loan, each of the following: (a) each date of a Borrowing of such Loan denominated in an Alternative Currency, (b) each date of a continuation of such Loan denominated in an Alternative Currency, (c) each date on which the Borrowing Base must otherwise be calculated pursuant to the terms of this Credit Agreement; and (d) any other time reasonably requested by the Administrative Agent or any Borrower in its sole discretion.
“RIC Distribution Notice” means a written notice setting forth the calculation of any Permitted RIC Distribution with respect to a Borrower and certifying that such Borrower remains a “regulated investment company” under Subchapter M of the Internal Revenue Code.
“S&P” means S&P Global Ratings, a division of S&P Global, Inc. and any successor thereto.
“Same Day Funds” means: (a) with respect to disbursements and payments in Dollars, immediately available funds, and (b) with respect to disbursements and payments in an Alternative Currency, same day or other funds as may be determined by the Administrative Agent to be customary in the place of disbursement or payment for the settlement of international banking transactions in the relevant Alternative Currency.
“Sanction(s)” means any international economic sanction administered or enforced by OFAC, the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority.
“Sanctioned Person” means (a) a Person named on the list of “Specially Designated Nationals and Blocked Persons” maintained by OFAC available at http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx, or as otherwise published from time to time, or (b)(i) the government of a Designated Jurisdiction or an agency of the government of a Designated Jurisdiction, (ii) an organization controlled by a Designated Jurisdiction or organized under the laws of a Designated Jurisdiction, or (iii) an individual ordinarily resident in a Designated Jurisdiction.
“Secured Parties” means, collectively, the Lenders, the Letter of Credit Issuer and the Agents.
“Security Agreements” means one or more security agreements substantially in the form of Exhibit E, executed and delivered by each Borrower and the applicable Managing Entity to Administrative Agent for the benefit of Secured Parties.
“SEMS” means the Superfund Enterprise Management System maintained by the United States Environmental Protection Agency.
“Side Letter” means any side letter by and between an Investor and the applicable Borrower (or the applicable Managing Entity) that amends or supplements the Governing Agreement of such Borrower.
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“Side Letter Election” means any election made by an Investor pursuant to a “most favored nation” contained in its Side Letter, which would permit such Investor to elect or incorporate additional provisions into such Side Letter, and is binding upon such Investor, the applicable Borrower or the applicable Managing Entity.
“Sixth Amendment” means that certain Sixth Amendment to Revolving Credit Agreement dated as of May 5, 2022 (the “Sixth Amendment Effective Date”), by and among Borrower, Administrative Agent and the Lenders.
“Sixth Amendment Effective Date” is defined in the definition of “Sixth Amendment”.
“SOFR” means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day.
“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).
“SOFR Administrator’s Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.
“SOFR Spread Adjustment” means, with respect to any applicable Business Day, a rate per annum equal to (a) with respect to an Interest Period (i.e., an available tenor) of one (1) month, 0.10% (10 basis points) per annum, (b) with respect to an Interest Period of three (3) months, 0.15% (15 basis points) per annum, and (c) with respect to an Interest Period of six (6) months, 0.25% (25 basis points) per annum.
“Solvent” means, with respect to any Borrower Party, as of any date of determination, that as of such date:
(a) the fair value of the assets of such Borrower Party and the aggregate Unfunded Commitments are greater than the total amount of liabilities, including contingent liabilities, of such Borrower Party;
(b) the fair value of the assets of such Borrower Party and the aggregate Unfunded Commitments are not less than the amount that will be required to pay the probable liability of the Borrower Parties on their debts as they become absolute and matured;
(c) such Borrower Party does not intend to, and does not believe that it will, incur debts or liabilities beyond its ability to pay as such debts or liabilities become absolute and matured; and
(d) such Borrower Party is not engaged in a business or transaction, and is not about to engage in a business or transaction, for which its assets and the aggregate Unfunded Commitments would constitute unreasonably small capital.
For the purposes of this definition, the amount of contingent liabilities (such as litigation, guarantees, and pension plan liabilities) at any time shall be computed as the amount which, in light of all the facts and circumstances existing at the time, represents the amount which can be reasonably expected to become an actual or matured liability and are determined as contingent liabilities in accordance with applicable federal and state laws governing determinations of insolvency.
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“SONIA” means a rate equal to the Sterling Overnight Index Average as administered by the SONIA Administrator.
“SONIA Administrator” means the Bank of England (or any successor administrator of the Sterling Overnight Index Average).
“SONIA Administrator’s Website” means the Bank of England’s website, currently at http://www.bankofengland.co.uk, or any successor source for the Sterling Overnight Index Average identified as such by the SONIA Administrator from time to time.
“SONIA Business Day” means, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to, Sterling, any day except for (a) a Saturday, (b) a Sunday or (c) a day on which banks are closed for general business in London.
“SONIA Determination Day” has the meaning specified in the definition of “Daily SONIA”.
“SONIA Rate Day” has the meaning specified in the definition of “Daily SONIA”.
“SOX” means Section 402 of the Sarbanes-Oxley Act of 2002 (codified as Section 13(k) of the Securities Exchange Act of 1934, as amended).
“SOX Insiders” means the directors and officers (or equivalent thereof) of The Goldman Sachs Group, Inc. or any spouse thereof, in each case who, in the reasonable opinion of the relevant Managing Entity (or, if no Managing Entity, the applicable Borrower), constitutes “insiders” of The Goldman Sachs Group, Inc. for purposes of SOX from time to time.
“Sponsor” means, (a) for any ERISA Investor, a sponsor as that term is understood under ERISA, specifically, the entity that established the plan and is responsible for the maintenance of the plan and, in the case of a plan that has a sponsor and participating employers, the entity that has the ability to amend or terminate the plan and (b) for any Endowment Fund Investor, the state chartered, “not for profit” university or college that has established such fund for its exclusive use and benefit. As used herein, the term “not for profit” means an entity formed not for pecuniary profit or financial gain and for which no part of the assets, income or profit is distributable to, or inures to the benefit of its members, directors or officers.
“Spot Rate” means, for a currency, the rate reasonably determined by the Administrative Agent to be the rate quoted by the Administrative Agent acting in such capacity as the spot rate for the purchase by the Administrative Agent of such currency with another currency through its principal foreign exchange trading office at the time and date of determination.
“Spread Adjusted SONIA” means with respect to any SONIA Business Day, a rate per annum equal to the sum of (a) SONIA for such SONIA Business Day plus (b) 0.1193% (11.93 basis points) per annum for a payment period of three months’ duration.
“Spread Adjusted Term SOFR” means with respect to any applicable Business Day and Interest Period, a rate per annum equal to the sum of (a) Term SOFR for such Interest Period plus (b) the applicable SOFR Spread Adjustment; provided that if Spread Adjusted Term SOFR shall be less than the Floor, Spread Adjusted Term SOFR shall be deemed to be the Floor for purposes of this Credit Agreement.
“Stated Maturity Date” means May 5November 3, 2023, as it may be extended pursuant to Section 2.18.
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“Sterling” and “£” mean the lawful currency of the United Kingdom.
“Subscription Agreement” means a Subscription Agreement executed by an Investor in connection with the subscription for an Ownership Interest in the applicable Borrower.
“Subsequent Lender” is defined in Section 2.17(a).
“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company, special limited partnership, private limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of a Borrower Party.
“Swap Contract” means: (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, futures contract, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement; and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other similar master agreement, including any such obligations or liabilities under any such master agreement.
“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts: (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s); and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender).
“Synthetic Lease Obligation” means the monetary obligation of a Person under: (a) a so‑called synthetic, off-balance sheet or tax retention lease; or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
“TARGET2” means the Trans-European Automatic Real-time Gross Settlement Express Transfer payment system which utilizes a single shared platform and which was launched on November 19, 2007.
“TARGET Day” means any day on which TARGET2 (or, if such payment system ceases to be operative, such other payment system, if any, determined by Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro.
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“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
“Term SOFR” means, for any Available Tenor and Interest Period, a rate per annum equal to the forward-looking term rate for a period comparable to such Available Tenor based on SOFR that is administered by the Term SOFR Administrator (or any successor administrator satisfactory to the Administrative Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent in its reasonable discretion from time to time) at the applicable Reference Time.
“Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of Term SOFR selected by the Administrative Agent in its reasonable discretion).
“Term SOFR Loan” means a Loan that bears interest at a rate based on Term SOFR. Term SOFR Loans shall be denominated in Dollars.
“Threshold Amount” means the lesser of (a) $25,000,000 and (b) five percent (5%) of the aggregate Unfunded Commitments at such time.
“Transactions” means the execution, delivery and performance by the Borrower Parties and the Managing Entities of this Credit Agreement and the other Loan Documents, the Borrowing of Loans, the issuance of Letters of Credit and the use of the proceeds thereof.
“Transfer” means to assign, convey, exchange, pledge, sell, transfer or otherwise dispose.
“Type of Loan” means any type of Loan (i.e., a Base Rate Loan, a Term SOFR Loan, an Alternative Currency Term Rate Loan or Daily SONIA Loan).
“U.S. Government Securities Business Day” means any Business Day, except any Business Day on which any of the Securities Industry and Financial Markets Association, the New York Stock Exchange or the Federal Reserve Bank of New York is not open for business because such day is a legal holiday under the federal laws of the United States or the laws of the State of New York, as applicable.
“U.S. Person” means any Person that is a “United States person” as defined in Section 7701(a)(30) of the Internal Revenue Code.
“U.S. Tax Compliance Certificate” has the meaning specified in Section 4.01(e).
“UCC” is defined in Section 6.01(f)(i).
“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person subject to IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.
“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.
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“Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.
“Unfunded Commitment” means, with respect to any Investor in a Borrower at any time, the Capital Commitment of such Investor, minus the aggregate Capital Contributions made (or deemed made) to such Borrower by such Investor, plus Returned Capital attributed to such Investor, but “Unfunded Commitment” shall not include that portion of an Investor’s Capital Commitment that is, at such time, subject to a Pending Capital Call.
“Union Bank” means MUFG Union Bank, N.A.
“Unreimbursed Amount” is defined in Section 2.07(c)(i)
“Unused Commitment Fee” is defined in Section 2.10.
“Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.
. All terms defined in this Credit Agreement shall have the above-defined meanings when used in the Notes or any other Loan Documents or any certificate, report or other document made or delivered pursuant to this Credit Agreement, unless otherwise defined in such other document.
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. Unless otherwise specified in the Loan Documents, time references are to time in New York, New York. Administrative Agent will notify Borrowers, pursuant to Section 4.08, in advance of any change to the Benchmark rate upon which the interest rate of Loans is based. The Administrative Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (a) the continuation of, administration of, submission of, calculation of or any other matter related to the Base Rate, the Alternative Currency Term Rate, SOFR, Term SOFR or Daily SONIA, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, Base Rate, the Alternative Currency Term Rate, SOFR, Term SOFR or Daily SONIA or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Base Rate, the Alternative Currency Term Rate, SOFR, Term SOFR, Daily SONIA any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrowers. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain Base Rate, the Alternative Currency Term Rate, SOFR, Term SOFR, Daily SONIA or any other Benchmark, in each case pursuant to the terms of this Credit Agreement, and shall have no liability to the Borrowers, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.
. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Credit Agreement shall be prepared in conformity with, Generally Accepted Accounting Principles applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the audited financial statements of the Borrowers except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of Borrower Parties and their Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470‑2047 on financial liabilities shall be disregarded.
. Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time will be deemed to be the Dollar Equivalent of the stated amount of such Letter of Credit in effect at such time;
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provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit will be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time (as such amount may be reduced by any permanent reduction of such Letter of Credit).
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. For all purposes under the Loan Documents, in connection with any Division or plan of Division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its equity interests at such time.
. Subject to the terms and conditions herein set forth, each Lender severally agrees, on any Business Day during the Availability Period, to make Loans in Dollars or in one or more Alternative Currencies to Borrowers, on a joint and several basis, and to the Qualified Borrowers, on a several basis, at any time and from time to time in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that, after making any such Loans: (a) such Lender’s Principal Obligation would not exceed such Lender’s Commitment as of such date and (b) the Principal Obligations would not exceed the Available Loan Amount. Subject to the foregoing limitation, the conditions set forth in Section 6 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium, and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be funded ratably by each Lender in accordance with its Applicable Percentage of the aggregate Available Loan Amount.
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. Each Borrowing of, conversion to or continuation of Loans shall be in a principal amount that is an integral multiple of $50,000 and not less than $250,000, either individually or, if multiple Borrowings, conversions or continuations are made simultaneously, in the aggregate; provided, however, that a Base Rate Loan or Daily SONIA Loan may be in an aggregate amount that is equal to the entire unused balance of the total Commitments or that, in the case of a Base Rate Loan, is required for the reimbursement of a Letter of Credit under Section 2.07(e).
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. Each change in the rate of interest for any Borrowing or any portion thereof shall become effective, without prior notice to the Borrower Parties, automatically as of the opening of business of Administrative Agent on the date of said change. At any time that Base Rate Loans are outstanding, Administrative Agent shall notify Borrower Parties and the Lenders of any change in MUFG’s prime rate used in determining the Alternative Base Rate promptly following the public announcement of such change. Administrative Agent will promptly notify Borrower and the Lenders of the interest rate applicable to any Interest Period for applicable Loans upon determination of such interest rate. The determination of the Term SOFR, any Alternative Currency Term Rate, Daily SONIA or any other Benchmark by Administrative Agent shall be conclusive in the absence of manifest error. Administrative Agent will bill Borrowers on behalf of all Lenders with respect to interest on Term SOFR Loans, Alternative Currency Term Rate Loans, Daily SONIA Loans and Base Rate Loans.
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Each Borrower Party will promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with such Borrower Party’s instructions or other irregularity, such Borrower Party will immediately notify the Letter of Credit Issuer. Each Borrower Party is hereby conclusively deemed to have waived any such claim against the Letter of Credit Issuer and its correspondents unless such notice is given as aforesaid.
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. In consideration of Lenders’ agreement to advance funds to a Qualified Borrower hereunder, to cause Letters of Credit to be issued for the account of a Qualified Borrower, and to accept Borrower Guaranties in support thereof, each Borrower hereby authorizes, empowers, and directs Administrative Agent, for the benefit of itself, the Letter of Credit Issuer and the Lenders, to disburse directly to Lenders or the Letter of Credit Issuer, as applicable, with notice to Borrowers, in Same Day Funds an amount equal to the amount due and owing under any Qualified Borrower Promissory Note or Borrower Guaranty, together with all interest, costs, expenses and fees due to Lenders and the Letter of Credit Issuer pursuant thereto in the event the applicable Lender shall have not received the applicable payment when due. Administrative Agent will promptly notify Borrowers of any disbursement made to Lenders or the Letter of Credit Issuer pursuant to the terms hereof, provided that the failure to give such notice shall not affect the validity of the disbursement. Any such disbursement made by Administrative Agent to Lenders or the Letter of Credit Issuer shall be deemed to be a Base Rate Loan, and Borrowers shall be deemed to have given to Administrative Agent, in accordance with the terms and conditions of Section 2.02(a), a Loan Notice with respect thereto. Administrative Agent may conclusively rely (absent manifest error) on Lenders as to the amount due to Lenders or the Letter of Credit Issuer under any Qualified Borrower Promissory Note or Borrower Guaranty.
. The proceeds of the Loans and the Letters of Credit shall be used solely for the purposes permitted under the Governing Agreements and the Constituent Documents of the Borrower Parties, including, if and to the extent permitted under the Governing Agreements, to finance investment activities, to provide working capital, to pay Borrower Expenses and for other permitted purposes (including, for the avoidance of doubt, to pay dividends or distributions on its outstanding equity interest). None of the Lenders, Agents, the Letter of Credit Issuer or Administrative Agent shall have any liability, obligation, or responsibility whatsoever with respect to any Borrower Party’s use of the proceeds of the Loans or the Letters of Credit, and none of the Lenders, Agents, the Letter of Credit Issuer or Administrative Agent shall be obligated to determine whether or not any Borrower Party’s use of the proceeds of the Loans or the Letters of Credit are for purposes permitted under the Governing Agreements or such Constituent Documents. Nothing, including, without limitation, any Borrowing, any conversion or continuation thereof or any L/C Credit Extension, or acceptance of any other document or instrument, shall be construed as a representation or warranty, express or implied, to any party by any Secured Party as to whether any Portfolio Investment or any other use of the proceeds of the Loans by Borrower Parties is permitted by the terms of the Governing Agreements or the Constituent Documents of any Borrower Party.
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. In addition to the payments provided for in Section 3 and subject to Section 2.14(a)(iii), Borrowers shall pay to (a) Administrative Agent, for the account of each Lender or (b) if directed by Administrative Agent at such times as there is only one Lender, such Lender at its Lending Office, an unused commitment fee (an “Unused Commitment Fee”) which shall accrue at a rate per annum equal to the product of: (i) the average daily difference during the immediately preceding calendar month between (A) such Lender’s Commitment and (B) such Lender’s outstanding Principal Obligation (including its participation in the Letter of Credit Obligations) (on a Dollar Equivalent basis) during such calendar month, and (ii) 2535 basis points (0.250.35%) per annum. The Unused Commitment Fee shall be payable in arrears in Dollars on the first Business Day of each calendar quarter for the preceding calendar quarter. Borrowers and Lenders acknowledge and agree that the Unused Commitment Fees payable hereunder are bona fide unused commitment fees and are intended as reasonable compensation to Lenders for committing to make funds available to Borrowers as described herein and for no other purposes.
. Borrowers shall pay to Administrative Agent and Arranger fees in consideration of the arrangement of the Commitments and administration of this Credit Agreement in Dollars, which fees shall be payable in amounts and on the dates agreed to between Borrowers and Administrative Agent and Borrowers and the Arranger in separate fee letter agreements.
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. All computations of interest for Base Rate Loans when the Alternative Base Rate is determined by MUFG’s “prime rate” or the Federal Funds Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year) or, in the case of interest in respect of Loans denominated in Alternative Currencies as to which market practice differs from the foregoing, in accordance with such market practice. Interest shall accrue on each Loan from and including the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 3.04, bear interest for one day. All interest hereunder on any Loan shall be computed on a daily basis based on upon the outstanding principal amount of such Loan as of the applicable date of determination.
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. Each Borrower acknowledges, agrees, represents and warrants the following:
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. So long as (x) no Event of Default or Default has occurred and is continuing on the date on which notice is given in accordance with the following clause (a) or on the Stated Maturity Date and (y) the representations and warranties contained in Section 7 or in any other Loan Document are true and correct in all material respects (without duplication of any materiality qualifications) on and as of the date on which notice is given in accordance with the following clause (a) and on the Stated Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects (without duplication of any materiality qualifications) as of such earlier date, and except that for purposes of this Section 2.18, the representations and warranties contained in Section 7.07 are hereby deemed to refer to the most recent financial statements furnished pursuant to clauses (a) and (b), respectively, of Section 8.01, the Borrowers may request to extend the Stated Maturity Date to a Business Day that is not later than 126 months after the then-effective Stated Maturity Date, no more than one time, upon: (a) delivery of a Facility Extension Request to Administrative Agent at least 30 days, but no more than 90 days, prior to the Stated Maturity Date then in effect or such shorter time period as Administrative Agent may agree; (b) payment to Administrative Agent for the benefit of the Lenders of a facility extension fee equal to 2511.67 basis points on the then-existing Maximum Commitment; and (c) payment by the Borrowers of all fees to Administrative Agent and the Lenders to the extent then due; and (d) consent of the extending Lenders. Administrative Agent agrees to deliver written confirmation of any extension to the Borrowers.
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. Any Lender may request that the Loans to be made by such Lender to the Borrower Parties hereunder shall be evidenced by promissory notes. If so requested, the Notes shall: (a)(i) if payable to the Administrative Agent, collectively be in the amount of the Maximum Commitment or (ii) if payable to a Lender, be in the amount of aggregate Commitments of the applicable Lender; (b)(i) except as provided in the penultimate sentence of this Section 3.01, be payable to Administrative Agent for the account of the Lenders or their registered assigns at the principal office of Administrative Agent or (ii) if requested at such times as there is only one Lender, such Lender or such other administrator or trustee for such Lender as such Lender may designate (or, if requested by such Lender, to such Lender and its registered assigns); (c) bear interest in accordance with Section 2.05; (d) be substantially in the form of Exhibit A attached hereto (with blanks appropriately completed in conformity herewith); and (e) be made by the appropriate Borrower Party. The Loans to be made by Lenders to Qualified Borrowers hereunder shall be evidenced by a promissory note of each such Qualified Borrower. Each Qualified Borrower Promissory Note shall (A) be in the amount of the Loans to be advanced to such Qualified Borrower; (B)(i) be payable to Administrative Agent for the account of the Lenders or their registered assigns, at the principal office of Administrative Agent or (ii) if requested at such times as there is only one Lender, such Lender or such other administrator or trustee for such Lender as such Lender may designate in writing (or, if requested by such Lender in writing, to such Lender and its registered assigns); (C) bear interest in accordance with Section 2.05; (D) be substantially in the form of Exhibit C attached hereto (with blanks appropriately completed in conformity herewith); and (E) be duly executed by such Qualified Borrower. Each Borrower Party agrees, from time to time, upon the request of Administrative Agent, to reissue new Notes to Administrative Agent (or such Lender in accordance with the next sentence and Section 12.11) in substitution for the Note previously issued by such Borrower Party. Notwithstanding the foregoing, each Borrower Party agrees, from time to time upon the request of any Lender, to issue a separate Note to such Lender in the amount of that Lender’s Commitments and, if necessary, issue a replacement Note to Administrative Agent and each applicable Lender, such that all Notes then outstanding collectively provide for the Maximum Commitment. Any issuance of a Note to a Lender shall be pursuant to this Section 3.01.
. The principal amount of the Obligations outstanding on the Maturity Date, together with all accrued but unpaid interest thereon, shall be due and payable on the Maturity Date.
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A notice of Administrative Agent to any Lender or any Borrower Party with respect to any amount owing under this subsection (c) shall be conclusive, absent manifest error.
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. Any Borrower Party may, upon delivery of a Repayment Notice to the Administrative Agent which may be conditioned upon the occurrence of a financing or other event, at any time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty; provided that: (a) such Repayment Notice must be received by Administrative Agent not later than 11:00 a.m.: (i) two U.S. Government Securities Business Days prior to any date of prepayment of Term SOFR Loans; (ii) on the date of prepayment of Base Rate Loans; (iii) five Business Days prior to any date of prepayment of Daily SONIA Loans; and (iv) four Business Days prior to the date of prepayment of Alternative Currency Term Rate Loans; and (b) any prepayment of Loans shall be in a Dollar Equivalent principal amount of $250,000 or a whole multiple of $250,000 in excess thereof, or, if less, the entire principal amount thereof then outstanding. Each such Repayment Notice shall specify the date (which shall be a Business Day) and amount of such prepayment and the Type(s) of Loans to be prepaid. Administrative Agent will promptly notify each Lender of its receipt of each such Repayment Notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such Repayment Notice is given by a Borrower Party, such Borrower Party shall make such prepayment and the payment amount specified in such Repayment Notice shall be due and payable on the date specified therein. Any prepayment of a Loan shall be accompanied by (to the extent timely invoiced to the relevant Borrower) any additional amounts required pursuant to Section 4.05. Each such prepayment shall be applied to the Obligations held by each Lender in accordance with its respective share of the Type(s) of Loans to be repaid.
. So long as no Request for Credit Extension is outstanding, Borrowers may terminate the Commitments, or reduce the Maximum Commitment, by giving prior written notice, which may be conditioned upon the occurrence of a financing or other event, to the Administrative Agent of such termination or reduction three Business Days prior to the effective date of such termination or reduction (which date shall be specified by Borrowers in such notice), provided that: (a) any such partial reduction shall be in an aggregate Dollar Equivalent amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof; and (b) Borrowers shall not terminate or reduce the aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Principal Obligation would exceed the aggregate Commitments (except that if such Principal Obligation consists solely of Letter of Credit Obligations, the Borrower Parties may provide Cash Collateral for such Letter of Credit Obligations and terminate the aggregate Commitments).
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Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the aggregate Commitments. In no event may Borrowers reduce the aggregate Commitments to $5,000,000 or less (other than by a termination of all the Commitments), except in the case that the outstanding Principal Obligation consists solely of Letter of Credit Obligations, in which case the Borrower Parties may reduce the aggregate Commitments to the amount of Letter of Credit Obligations outstanding. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Applicable Percentages, unless each Lender shall agree otherwise. All fees accrued until the effective date of any termination of the aggregate Commitments shall be paid on the effective date of such termination. Promptly after receipt of any notice of reduction or termination, Administrative Agent shall notify each Lender of the same.
. Each Lender may: (a) designate its principal office or a branch, subsidiary or Affiliate of such Lender as its Lending Office (and the office to whose accounts payments are to be credited) for any Loan; and (b) change its Lending Office from time to time by notice to Administrative Agent and Borrowers. In such event, the Lender shall continue to hold the Note, if any, evidencing its loans for the benefit and account of such branch, subsidiary or Affiliate. Each Lender shall be entitled to fund all or any portion of its Commitment in any manner it deems appropriate, consistent with the provisions of Section 2.04, but for the purposes of this Credit Agreement such Lender shall, regardless of such Lender’s actual means of funding, be deemed to have funded its Commitment in accordance with the Interest Option selected from time to time by the Borrower Parties for such Borrowing.
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Each Recipient agrees that if any form or certification it previously delivered pursuant to this Section 4.01 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify Borrower Parties and Administrative Agent in writing of its legal inability to do so.
. If any Funding Party determines in its reasonable judgment that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Funding Party or its applicable Lending Office to make, maintain or fund any Credit Extension whose interest is determined by reference to any Alternative Currency Term Rate, SONIA, SOFR, Term SOFR or Daily SONIA, or to determine or charge interest rates based upon any Alternative Currency Term Rate, SONIA, SOFR, Term SOFR or Daily SONIA, or any Governmental Authority has imposed material restrictions on the authority of such Funding Party to purchase or sell, or to take deposits of, Dollars or any Alternative Currency in the applicable offshore interbank market, on notice thereof by such Funding Party to Borrower Parties or the Administrative Agent: (a) any obligation of such Funding Party to make or continue Credit Extensions accruing interest at SOFR, Term SOFR, an Alternative Currency Term Rate or Daily SONIA, as applicable, in the affected currency or currencies or to convert any portion of Loans accruing interest at the Alternative Base Rate to a portion of Loans accruing interest at SOFR, Term SOFR, an Alternative Currency Term
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Rate or Daily SONIA, as applicable, shall be suspended; and (b) if such notice asserts the illegality of such Funding Party making or maintaining Base Rate Loans for which the interest rate is determined by reference to SOFR component of the Alternative Base Rate, the interest rate for Base Rate Loans made by such Funding Party shall, if necessary to avoid such illegality, be determined by Administrative Agent without reference to the SOFR component of the Alternative Base Rate, in each case until such Funding Party notifies the Administrative Agent and Borrower Parties that the circumstances giving rise to such determination no longer exist (which it agrees to do promptly upon becoming aware that such conditions cease to exist). Upon receipt of such notice: (i) the applicable Borrower Party shall, upon demand from such Funding Party (with a copy to Administrative Agent), prepay or, if applicable, convert all applicable Loans to Base Rate Loans (with an interest rate that shall, if necessary to avoid such illegality, be determined by Administrative Agent without reference to the SOFR component of the Alternative Base Rate), either on the last day of the Interest Period therefor, if such Funding Party may lawfully continue to maintain such Loans to such day, or, if such Funding Party may not lawfully continue to maintain such Loans immediately; and (ii) if such notice asserts the illegality of such Funding Party determining or charging interest rates based upon SOFR, Administrative Agent shall during the period of such suspension compute the Alternative Base Rate applicable to such Funding Party without reference to the SOFR component thereof until Administrative Agent is advised in writing by such Funding Party that it is no longer illegal for such Funding Party to determine or charge interest rates based upon SOFR. Each Funding Party agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Funding Party, otherwise be materially disadvantageous to such Funding Party.
thereafter (i) the obligation of the Funding Party, as applicable, to make or maintain such Loans, as applicable, in the affected currency or currencies shall be suspended, and (ii) in the event of a determination described in the preceding sentence with respect to the SOFR component of the Alternative Base Rate, the utilization of the SOFR component in determining the Alternative Base Rate shall be suspended, in each case until Administrative
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Agent (upon the instruction of the Required Lenders) revokes such notice (which it agrees to do promptly upon becoming aware that such conditions cease to exist). Upon receipt of such notice, any Borrower Party may revoke any pending request for a Borrowing of, conversion to or continuation of Term SOFR Loans, Alternative Currency Term Rate Loans or Daily SONIA Loans, as applicable, in the affected currency or currencies or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans, without reference to SOFR, in the amount specified therein.
and the result of any of the foregoing shall be to increase the cost to such Funding Party of making, funding or maintaining any Loan, or to increase the cost to such Lender or the Letter of Credit Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the Letter of Credit Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the Letter of Credit Issuer, the applicable Borrower Parties will pay to such Lender of the Letter of Credit Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the Letter of Credit Issuer, as the case may be, for such additional costs incurred or reduction suffered; provided that such compensation for additional costs incurred or reduction suffered by such Funding Party because of a Change in Law may only be requested by a Funding Party imposing such increased costs on borrowers similarly situated to the Borrower Parties under credit facilities comparable to those provided for herein.
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. Upon demand of any Funding Party (with a copy to Administrative Agent) from time to time, each applicable Borrower Party shall promptly compensate such Funding Party for and hold such Funding Party harmless from any loss, cost or expense (but excluding lost profits) reasonably incurred by it as a result of:
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including any foreign exchange losses and any loss or expense, either directly or indirectly, arising from the liquidation or reemployment of funds obtained by it to maintain such Loan (including funds obtained by issuing commercial paper or promissory notes or obtaining deposits or loans from third parties) or from fees payable to terminate the deposits from which such funds were obtained or from the performance of any foreign exchange contract.
For purposes of calculating amounts payable by any Borrower Party to any applicable Funding Party under this Section 4.05, each applicable Funding Party shall be deemed to have funded each Term SOFR Loan or Alternative Currency Term Rate Loan, as applicable, made by it at the applicable rate for such Loan by a matching deposit or other borrowing in the applicable offshore interbank market for such currency for a comparable amount and for a comparable period, whether or not such Loan was in fact so funded. Notwithstanding anything herein to the contrary, no compensation shall be payable under this Section 4.05 with respect to any voluntary prepayment permitted pursuant to Section 3.06 to the extent such compensation resulting from such voluntary prepayment and otherwise payable to any individual Lender does not exceed $250.
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. To secure performance by the Borrower Parties of the payment and performance of the Obligations: (a) each Borrower shall grant to Administrative Agent, for the benefit of the Secured Parties, a perfected, first priority security interest and Lien in and to its Collateral Accounts, including but not limited to any and all funds and financial assets (including all cash and Permitted Investments, but not including any Portfolio Investments) pursuant to each Assignment of Capital Contribution Account and each Account Control Agreement for the Collateral Accounts, in each case subject only to Permitted Liens; and (b) each Borrower and each Managing Entity, to the extent of their respective interests therein, shall grant to Administrative Agent, for the benefit of the Secured Parties, a perfected, first priority security interest and Lien in and to the Capital Calls, Capital Commitments, and Capital Contributions, including, without limitation, any rights to make Capital Calls, receive payment of Capital Contributions and enforce the payment thereof pursuant to a Security Agreement or any guarantees thereof now existing or hereafter arising, in each case subject only to Permitted Liens (the collateral in clauses (a) and (b) of this Section 5.01 being (except as otherwise set forth below), collectively, the “Collateral”). In order to secure further the payment and performance of the Obligations and to effect and facilitate the Administrative Agent’s and Secured Parties’ right of setoff, each Borrower hereby irrevocably appoints Administrative Agent as subscription agent and attorney-in-fact entitled, in the name of such Borrower upon the occurrence and during the continuance of an Event of Default (but subject to Section 10.03), to make any Capital Calls upon the Investors pursuant to (and to the extent permitted by) the terms of the applicable Subscription Agreements and the applicable Governing Agreement. The foregoing power of attorney is a continuing power and is coupled with an interest.
Notwithstanding the foregoing, the term “Collateral” shall not include (i) any ERISA Investor Excluded Items if such provision of such ERISA Investor Excluded Item or the exercise of remedies with respect to such ERISA Investor Excluded Item would be a non-exempt prohibited transaction for purposes of Section 406 of ERISA, Section 4975 of the Internal Revenue Code or other applicable law, (ii) the Capital Commitments or any assets, interests, rights or obligations of the GS Persons, if any, unless so elected by the Borrower Parties in their sole discretion, (iii) any Portfolio Investments, and (iv) any funds properly withdrawn from a Collateral Account (or that could be withdrawn pursuant to the Credit Agreement if deposited or credited to a Collateral Account) to the extent used, pursuant to the terms of the related Governing Agreements, to purchase Portfolio Investments (other than Permitted Investments deposited in or credited to such account), to make payments to Investors in accordance with the terms hereof or for any other purpose permitted under the Governing Agreements and this Credit Agreement, and the proceeds of such withdrawn funds; provided, however, Administrative Agent may issue Capital Calls on all Investors (including all Prohibited Persons) in exercising remedies under Section 10.02 or any other Loan Document and to the extent necessary to comply with any pro rata drawdown requirements set forth in the applicable Governing Agreement.
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. Each Borrower and each Managing Entity shall deliver such security agreements, account control agreements, financing statements, assignments, and other collateral documents (all of which shall be deemed part of the “Collateral Documents”), in form and substance reasonably satisfactory to Administrative Agent, as Administrative Agent may reasonably request from time to time to the extent necessary for granting to, or maintaining or perfecting in favor of itself and Secured Parties, first priority security interest (in each case subject to Permitted Liens) in any of the Collateral, together with assurances of due recording and documentation of the Collateral Documents or copies thereof, as Administrative Agent may reasonably require to avoid material impairment of the liens and security interests granted or purported to be granted pursuant to this Section 4.08(a).
. After the occurrence and during the continuance of an Event of Default, no Borrower Party shall make any payments or advances of any kind, directly or indirectly, on any debts and liabilities to any other Borrower Party whether now existing or hereafter arising and whether direct, indirect, several, joint and several, or otherwise, and howsoever evidenced or created (collectively, the “Other Claims”); provided, however, that a Borrower Party may make payment to the Investment Manager and its respective Affiliates for any accrued management fees, incentive fees or other similar fees or compensation due and owing pursuant to the applicable Constituent Document so long as (a) such fees are paid from monies or sums not constituting any part of the Collateral and (b) neither the Investment Manager nor its Affiliates are in default with respect to their obligations to fund Capital Contributions. All Other Claims, together with all liens, security interests, and all other encumbrances or charges on assets securing the payment of all or any portion of the Other Claims shall at all times during the occurrence and continuance of an Event of Default be subordinated to and inferior in right and in payment to the Obligations and all liens, security interests, and all other encumbrances or charges on assets securing all or any portion of the Obligations, and each Borrower Party agrees to take such actions as are necessary to provide for such subordination between it and any other Borrower Party, inter se, including but not limited to including provisions for such subordination in the documents evidencing the Other Claims.
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. The obligation of each Lender and the Letter of Credit Issuer to make its initial Credit Extension hereunder is subject to the conditions precedent that Administrative Agent shall have received, on or before the Closing Date, the following:
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Without limiting the generality of the provisions of the last paragraph of Section 11.03 and for purposes of determining compliance with the conditions specified in this Section 6.01, each Lender and the Administrative Agent that has signed this Credit Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender or Administrative Agent unless Administrative Agent (or in the case of the Administrative Agent, the Borrowers) shall have received notice from such Lender or Administrative Agent prior to the proposed Closing Date specifying its objection thereto.
. The obligation of each Lender to honor any Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type of Loan, or a continuation of a Term SOFR Loan or Alternative Currency Term Rate Loan) is subject to the following conditions precedent that:
Each Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type of Loan, or a continuation of a Term SOFR Loan or Alternative Currency Term Rate Loan) submitted by a Borrower Party shall be deemed to be a representation and warranty that the conditions specified in Sections 6.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension.
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. The obligation of each Lender to advance a Loan to a Qualified Borrower or to cause the issuance of a Letter of Credit for a Qualified Borrower is subject to the conditions that:
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. To induce Lenders to make the Loans and cause the issuance of Letters of Credit hereunder, each Borrower Party, as applicable, represents and warrants to Secured Parties that:
. Initial Borrower is a limited liability company duly formed and validly existing under the laws of the State of Delaware. Each Borrower has the requisite power and authority to own its properties and assets and to carry on its business as now conducted, and is qualified to do business in each jurisdiction where the nature of the business conducted or the property owned or leased by it requires such qualification except where the failure to be so qualified to do business would not reasonably be expected to have a Material Adverse Effect.
. Each Managing Entity has the requisite power and authority to own its properties and assets and to carry on its business as now conducted, and is qualified to do business in each jurisdiction where the nature of the business conducted or the property owned or leased requires such qualification except where the failure to be so qualified to do business would not reasonably be expected to have a Material Adverse Effect.
. Each Borrower Party and each Managing Entity has the partnership, limited liability company, special limited partnership, private limited liability company or corporate power, as applicable, and requisite authority to execute, deliver, and perform its respective obligations under this Credit Agreement, the Notes, and the other Loan Documents to be executed by it. Each Borrower Party and each Managing Entity is duly authorized to, and has taken all partnership, limited liability company, special limited partnership, private limited liability company and corporate action, as applicable, necessary to authorize each of them to execute, deliver, and perform its respective obligations under this Credit Agreement, the Notes, and such other Loan Documents and are and will continue to be duly authorized to perform its respective obligations under this Credit Agreement, the Notes, and such other Loan Documents.
. None of the execution and delivery of this Credit Agreement, the Notes, or the other Loan Documents (or any other report, financial statement, notice or certificate in connection herewith or therewith), the consummation of any of the transactions herein or therein contemplated, or the compliance with the terms and provisions hereof or with the terms and provisions thereof, will contravene or conflict with (i) any provision of their Constituent Documents in any material respect, (ii) any law, statute, or regulation to which any Borrower Party or any Managing Entity is subject, (iii) any judgment, license, order, or permit applicable to any Borrower Party or any Managing Entity or (iv) any indenture, mortgage, deed of trust, or other agreement or instrument to which any Borrower Party or any Managing Entity is a party or by which any Borrower Party or any Managing Entity may be bound, or to which any Borrower Party or any Managing Entity may be subject, except in the case of clauses (ii), (iii), and (iv), those that would not reasonably be expected to result in a Material Adverse Effect. No consent, approval, authorization, or order of any court or Governmental Authority or consent of any third party is required in connection with the execution and delivery by any Borrower Party or any Managing Entity of the Loan Documents, or any other report, financial statement, notice or certificate delivered in connection herewith or therewith, or to consummate the transactions contemplated hereby or thereby, except those that would not reasonably be expected to result in a Material Adverse Effect if not obtained.
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. This Credit Agreement, the Notes and the other Loan Documents to which it is a party are the legal and binding obligations of each Borrower Party, enforceable in accordance with their respective terms, subject to Debtor Relief Laws and equitable principles.
. The Collateral Documents create, as security for the Obligations, valid and enforceable first priority security interests in and Liens on all of the Collateral in which any Borrower Party or any Managing Entity has any right, title or interest, in favor of Administrative Agent for the benefit of the Secured Parties, subject to no other Liens other than Permitted Liens, except as enforceability may be limited by Debtor Relief Laws and equitable principles.
. Each Borrower Party has delivered to Administrative Agent: the most-recently available copies of the financial statements and reports described in Section 8.01. Such statements fairly present, in all material respects, the financial condition of such Borrower Party as of the applicable date of such financial statements, and have been prepared in accordance with Generally Accepted Accounting Principles, except as provided therein.
. There is no material fact actually known to a Responsible Officer of a Borrower Party that any Borrower Party or any Managing Entity has not disclosed to Administrative Agent in writing (other than information of a general industry or economic nature) which would reasonably be expected to result in a Material Adverse Effect. The information heretofore furnished by any Borrower Party or any Managing Entity in connection with, or pursuant to, this Credit Agreement, the other Loan Documents, including any reports, notices or certificates provided in connection herewith or therewith, or any transaction contemplated hereby or thereby (taken as a whole) does not contain any untrue statement of a material fact on the date as of which such information is stated or deemed stated that would reasonably be expected to result in a Material Adverse Effect. Such written information may include certain forward-looking statements and projections (the “Projections”) which reflect various estimates and assumptions by the Borrower Parties concerning anticipated results. The Borrower Parties do not make any representations or warranties as to the accuracy of any such Projections which may be furnished in any written information.
. Except as disclosed to the Administrative Agent in writing, no event has occurred and is continuing which constitutes an Event of Default or, to the knowledge of a Responsible Officer, a Default.
. There are no actions, suits, investigations or legal, equitable, arbitration or administrative proceedings pending, or, to the actual knowledge of a Responsible Officer of any Borrower Party or any Managing Entity, threatened, against any Borrower Party or any Managing Entity that would reasonably be expected to result in a Material Adverse Effect.
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. No changes to any Borrower Party or any Managing Entity have occurred since the date of the most recent audited financial statements of the Borrower Parties delivered to Lenders which would reasonably be expected to result in a Material Adverse Effect.
. To the extent that failure to do so could reasonably be expected to have a Material Adverse Effect, all Tax returns required to be filed by any Borrower Party in any jurisdiction have been filed, subject to any applicable extensions without penalty, and all Taxes shown thereon have been paid prior to the time that such Taxes could give rise to a lien thereon, other than Taxes that are being contested in good faith by appropriate proceedings and for which appropriate reserves have been established. There is no proposed Tax assessment against any Borrower Party (or any basis for such Tax assessment) which is reasonably likely to have a Material Adverse Effect.
. The jurisdiction of formation of each Borrower and Managing Entity is the State of Delaware. The principal office, chief executive office and principal place of business of each Borrower and each Managing Entity is set forth on Schedule 12.07 (as such Schedule may be modified by the relevant Borrower Party from time to time by notice to the Administrative Agent).
. Each Borrower Party is, to the knowledge of its Responsible Officers, in compliance in all respects with all laws, rules, regulations, orders, and decrees which are applicable to such Borrower Party or its properties, including, without limitation, Environmental Laws, to the extent failure to comply could reasonably be expected to have a Material Adverse Effect.
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. No Borrower Party: (a) has received any notice or other communication or otherwise learned of any Environmental Liability which would individually or in the aggregate reasonably be expected to have a Material Adverse Effect arising in connection with: (i) any non-compliance with or violation of the requirements of any Environmental Law by a Borrower Party, or any permit issued under any Environmental Law to such Borrower Party; or (ii) the Release or threatened Release of any Hazardous Material into the environment; and (b) to the knowledge of its Responsible Officers, has threatened or actual liability in connection with the Release or threatened Release of any Hazardous Material into the environment which would individually or in the aggregate reasonably be expected to have a Material Adverse Effect.
. As of the date hereof, no Borrower Party nor any Managing Entity is an “executive officer,” “director,” or “person who directly or indirectly or acting through or in concert with one or more persons owns, controls, or has the power to vote more than 10% of any class of voting securities” (as those terms are defined in 12 U.S.C. §375b or in regulations promulgated pursuant thereto) of any Lender, of a Bank Holding Company of which any Lender is a subsidiary, or of any subsidiary, of a Bank Holding Company of which any Lender is a subsidiary, of any bank at which any Lender maintains a correspondent account, or of any bank which maintains a correspondent account with any Lender.
. The (a) names of the Institutional Investors are correctly set forth in the most recently delivered Borrowing Base Certificate and (b) PWM Investors have been identified by number only on the most recently delivered Borrowing Base Certificate, and the Capital Commitment of each Investor is set forth on Schedule I thereto. No Capital Calls have been delivered to any Investor other than any that have been disclosed to the Administrative Agent in writing.
. To the actual knowledge of the Responsible Officers of each Borrower and each Managing Entity, no Investor is in default under the applicable Governing Agreement or its Subscription Agreement except as otherwise disclosed in writing to Administrative Agent as and to the extent required by Section 8.01. In connection with each Capital Call, each Borrower has satisfied or will satisfy all conditions to its rights to make a Capital Call, including any and all conditions contained in its Constituent Documents, the Subscription Agreements or any Side Letter. Initial Borrower’s first Capital Call occurred on April 26, 2019.
. The fiscal year of each Borrower Party and each Managing Entity is the calendar year, except as it may be changed in compliance with Section 9.03.
. Neither any Borrower Party nor any Managing Entity is an “investment company” within the meaning of the Investment Company Act, but the Initial Borrower has elected or may elect to be treated as a business development company under Section 54 of the Investment Company Act and to be subject to applicable provisions of the Investment Company Act.
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. No Borrower Party is engaged or will engage principally or as one of its important activities in the business of extending credit for the purpose of purchasing or carrying Margin Stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than 25% of the value of the assets (either a Borrower Party only or of such Borrower Party and its Subsidiaries on a consolidated basis) will be Margin Stock.
. No Responsible Officer of any Borrower Party has actual knowledge of any default or circumstance which with the passage of time and/or giving of notice, could constitute an event of default under the Governing Agreements, any Subscription Agreement or Side Letter which would constitute a defense to the obligations of the Investors to make Capital Contributions pursuant to a Capital Call to the applicable Borrower in accordance with the Subscription Agreements or the Governing Agreements, and no Responsible Officer of any Borrower Party has actual knowledge of any claims of offset or any other claims of the Investors against such Borrower or its Managing Entity which would or could materially and adversely affect the obligations of the Investors to make Capital Contributions and fund Capital Calls in accordance with the Subscription Agreements (and any related Side Letters) or the Governing Agreements, in each case except as disclosed in writing to the Administrative Agent.
. No Investor is permitted to withdraw its interest in a Borrower without the prior approval of the applicable Managing Entity or, in the case of Initial Borrower or any other Borrower with no Managing Entity, Initial Borrower or such other Borrower, except as set forth in Section 9.05 hereof and permitted by the applicable Governing Agreement.
. Borrowers, taken as a whole, are Solvent.
. No Borrower Party is a Sanctioned Person or is a Person with whom dealings are prohibited under any OFAC regulations. No Investor is a Sanctioned Person or is a Person with whom dealings are prohibited under any OFAC regulations.
. The Borrower Parties and their Subsidiaries have conducted their businesses in compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions, and have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws. Each Borrower Party is subject to policies and procedures which are reasonably designed to comply with all applicable United States anti-money laundering laws and regulations and OFAC regulations, including, without limitation, applicable provisions of the Patriot Act (“KYC Compliance”). To the actual knowledge of any Responsible Officer of such Borrower Party, no Investor’s funds used in connection with this transaction are derived from illegal activities.
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. No PWM Investor has entered into any Side Letter with any Borrower or any Managing Entity, except as copies (with names and other identifying information of PWM Investors redacted) of the same have been provided to Administrative Agent.
. No Borrower Party is an Affected Financial Institution.
. As of the Closing Date or the effective date of any joinder by a Qualified Borrower pursuant to Section 6.03, as applicable, the information included in each Beneficial Ownership Certification, if applicable, is true and correct in all respects.
. So long as Lenders have any Commitment to lend hereunder or to cause the issuance of any Letters of Credit hereunder, and until payment in full of the Notes and the performance in full of the Obligations under this Credit Agreement and the other Loan Documents (other than contingent indemnities), the Borrower Parties and the Managing Entities, as applicable, each agrees that, unless Administrative Agent shall otherwise consent in writing based upon the approval of the Required Lenders (unless the approval of Administrative Agent alone or a different number of Lenders is expressly permitted below):
. Each Borrower, as applicable, shall deliver to Administrative Agent sufficient copies for each Lender of the following:
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. Each Borrower Party will pay and discharge all taxes, assessments, and governmental charges or levies imposed upon it, upon its income or profits, or upon any property belonging to it before delinquent, if such failure to do so would have a Material Adverse Effect; provided, however, that no Borrower Party shall be required to pay any such tax, assessment, charge or levy if and so long as the amount, applicability or validity thereof shall currently be contested in good faith by appropriate proceedings and appropriate reserves therefor have been established.
. Each Borrower Party and each Managing Entity will preserve and maintain its existence. Each Borrower Party shall further preserve and maintain all of its rights, privileges, and franchises necessary in the normal conduct of its business and in accordance with all valid regulations and orders of any Governmental Authority the failure of which could reasonably be expected to have a Material Adverse Effect.
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. Each Borrower Party and each Managing Entity will furnish to Administrative Agent, promptly upon a Responsible Officer’s actual knowledge of the existence of any condition or event which constitutes an Event of Default or a Default, a written notice specifying the nature and period of existence thereof and the action which the Borrower Parties or the Managing Entities are taking or propose to take with respect thereto.
. Each Borrower Party will, promptly upon a Responsible Officer’s actual knowledge thereof, notify Administrative Agent of any of the following events that would reasonably be expected to result in a Material Adverse Effect: (a) any change in the financial condition or business of such Borrower Party or its Managing Entity; (b) any default under any material agreement, contract, or other instrument to which such Borrower Party is a party or by which any of its properties are bound, or any acceleration of the maturity of any material indebtedness owing by such Borrower Party; (c) any material uninsured claim against or affecting such Borrower Party or any of its properties; (d) the commencement of, and any material determination in, any litigation with any third party or any proceeding before any Governmental Authority affecting such Borrower Party; (e) any Environmental Complaint or any claim, demand, action, event, condition, report or investigation indicating any potential or actual liability arising in connection with: (i) the non-compliance with or violation of the requirements of any Environmental Law or any permit issued under any Environmental Law; or (ii) the Release or threatened Release of any Hazardous Material into the environment; (f) the existence of any Environmental Lien on any Properties or assets of such Borrower Party; (g) any material remedial action taken by any Borrower Party in response to any order, consent decree or judgment of any Governmental Authority or any Environmental Liability; or (h) the listing of any of such Borrower Party’s Properties on SEMS to the extent that such Borrower Party obtains knowledge of such listing.
. Unless otherwise approved in accordance with the terms of this Credit Agreement (which approval, by such terms, may require more or fewer Lenders than the Required Lenders), each Borrower Party and each Managing Entity will promptly comply in all material respects with any and all covenants and provisions of its Constituent Documents. Each Borrower will use the proceeds of any Capital Calls only for such purposes as are permitted by its Constituent Documents.
. Following five Business Days’ prior written notice, each Borrower Party will, and will cause each other Borrower Party to (at the expense of the applicable Borrower Party) at reasonable intervals will give any representative of Administrative Agent access during all business hours to, and permit their representatives to examine, copy, or make excerpts from, any and all books, records, and documents in the possession of such Borrower Party and relating to its affairs, and to inspect any of the properties of such Borrower Party, subject to compliance with Section 12.18; provided that, so long as no Event of Default or Default has occurred and is continuing, such inspection right shall be limited to once per each 12-month period.
. Each Borrower Party and each Managing Entity will comply in all material respects with all laws, rules, regulations and all orders of any Governmental Authority, including Environmental Laws and ERISA, except where non-compliance would not reasonably be expected to result in a Material Adverse Effect.
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. Each Borrower Party will maintain insurance of such types (if any) and amounts, as are consistent with customary practices and standards of the industry in which they operate, except to the extent and the failure of which to maintain such insurance would not result in a Material Adverse Effect.
. Each Borrower Party and each Managing Entity will promptly obtain, from time to time at its own expense, all such governmental licenses, authorizations, consents, permits and approvals as may be required to enable such Borrower Party and such Managing Entity to comply in all material respects with their respective obligations hereunder and under the other Loan Documents, the Subscription Agreements and their respective Constituent Documents.
. Each Borrower Party and each Managing Entity shall perform all such acts and execute all such documents as Administrative Agent may reasonably request in order to enable the Administrative Agent for the benefit of the Secured Parties to file, and record every instrument that Administrative Agent may deem necessary in its reasonable judgment in order to perfect and maintain the Administrative Agent’s liens and security interests in the Collateral, and otherwise to preserve and protect the rights of Secured Parties in respect of the Loan Documents or the transactions contemplated thereby.
. Each Borrower Party and each Managing Entity will make, execute or endorse, and acknowledge and deliver or file or cause the same to be done, all such notices, certifications, and additional agreements, undertakings, conveyances, transfers, assignments, financing statements or other assurances, and take any and all such other action, as Administrative Agent may, from time to time, reasonably deem necessary in connection with this Credit Agreement or any of the other Loan Documents or the obligations of the Borrower Parties hereunder or thereunder, for better assuring and confirming unto the Administrative Agent for the benefit of the Secured Parties all or any part of the security for any of such obligations anticipated herein.
. Borrowers (taken as a whole) shall be Solvent.
. Each Borrower Party will conduct its businesses in compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions and maintain or be subject to policies and procedures designed to promote and achieve compliance with such laws. In the event that pursuant to such policies and procedures or otherwise, a Responsible Officer of a Borrower Party obtains actual knowledge that an Investor is a Sanctioned Person or is a Person with whom dealings are prohibited under any OFAC regulations, then the Borrower Parties will comply with all Laws, including but not limited to OFAC requirements, with respect to such Investor.
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. The covenants and agreements of Qualified Borrowers hereunder shall be binding and effective with respect to a Qualified Borrower upon and after the execution and delivery of a Qualified Borrower Promissory Note by such Qualified Borrower. If a Qualified Borrower has no Obligations outstanding, such Qualified Borrower shall be permitted to withdraw from this Credit Agreement as a Qualified Borrower upon 10 days advance written notice to Administrative Agent, whereupon such Qualified Borrower shall have no further obligations under this Credit Agreement (except as set forth in the last sentence of this Section 8.15). Upon the request of such withdrawing Qualified Borrower, Administrative Agent will return or destroy any Qualified Borrower Promissory Note issued by such Qualified Borrower. Notwithstanding any withdrawal by a Qualified Borrower, such Qualified Borrower (and the applicable Borrower pursuant to the applicable Borrower Guaranty) shall remain liable for any amounts due to the Secured Parties pursuant to Sections 4 and 12.06 from such Qualified Borrower, which provisions shall survive any withdrawal by a Qualified Borrower and the termination of this Credit Agreement.
. Initial Borrower will at all times maintain its status as a “business development company” under the Investment Company Act.
. So long as Lenders have any Commitment to lend hereunder or to cause the issuance of any Letter of Credit hereunder, and until payment and performance in full of the Obligations under this Credit Agreement and the other Loan Documents (other than contingent indemnities), each Borrower Party and each Managing Entity, as applicable, agrees that, without the written consent of Administrative Agent, based upon the approval of Required Lenders (unless the approval of Administrative Agent alone or a different number of Lenders is expressly permitted below):
. No Borrower Party will merge or consolidate (including by way of Division) with or into any Person, unless such Borrower Party is the surviving entity, provided, however, that if any such merger or consolidation involves two or more Borrower Parties and/or any Managing Entity, such merger or consolidation shall not be consummated without prior confirmation from Administrative Agent that its Liens in the Collateral, after giving effect to such merger or consolidation, have been preserved, or receipt by Administrative Agent of documentation it reasonably requires to so preserve such Liens. Neither any Borrower Party nor any Managing Entity will take any action to dissolve, terminate, wind up, liquidate, merge or consolidate such Borrower Party or such Managing Entity, including any action to sell or dispose of in a single transaction or series of related transactions all or substantially all of the property of such Borrower Party or such Managing Entity.
. Without the approval of all Lenders, no Borrower nor any Managing Entity will create or suffer to exist any Lien upon the Collateral, other than (i) Permitted Liens, and (ii) a first priority security interest in and upon the Collateral to Administrative Agent for the benefit of the Secured Parties. For the avoidance of doubt, Portfolio Investments are not part of the Collateral, and the Borrower Parties are not restricted hereby from granting Liens thereon.
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. Without the prior notice to Administrative Agent, no Borrower Party will change its fiscal year or change in any material respect its method of accounting other than in accordance with the terms of the applicable Governing Agreement.
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. No Borrower nor any Managing Entity shall: (a) cancel, suspend, reduce, excuse, reallocate, defer or abate the Capital Commitment of any Investor (except in the case of (x) the release of the Capital Commitment of transferors of interests in such Borrower in connection with transfers between Investors permitted (or consented to) under this Credit Agreement, or (y) one or more Investors with aggregate Capital Commitments not to exceed five percent (5%) of the aggregate Capital Commitments of all Investors; provided that an updated Borrowing Base Certificate is provided within three (3) Business Days of such action and compliance with the requirements applicable to any resulting Mandatory Prepayment Event); and (b)(i) issue any Capital Calls other than as contemplated by Section 8.01(g); and (ii) excuse any Investor from or permit any Investor to defer any Capital Contribution, if the proceeds from the related Capital Call are to be applied to the Obligations hereunder. No Investor is permitted to withdraw its interest in a Borrower except in accordance with the terms of the applicable Governing Agreement.
. No Borrower Party shall establish or maintain any Plan. Without the approval of all Lenders, no Borrower Party will take any action that would cause its underlying assets to otherwise constitute the assets of an ERISA Investor.
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. (a) No Borrower Party shall incur any indebtedness (as such term is used in the applicable Constituent Documents) to the extent it would violate its respective Constituent Documents as in effect on the Closing Date (or as amended in accordance with Section 9.04) or the leverage requirements applicable to a “business development company” under Sections 18 and 61 of the Investment Company Act; and (b) except as permitted in Section 9.02, no Borrower Party may incur any Indebtedness secured by the Collateral. Notwithstanding anything to the contrary, this Credit Agreement and the other Loan Documents shall permit (i) accrued management, incentive and other fees, (ii) obligations under Swap Contracts not entered into for speculative purposes, (iii) commitments to purchase or make Portfolio Investments and any commitment or incurrence of any deferred purchase or acquisition price in connection with, Portfolio Investments (including by way of any equity commitment) and (iv) Guaranty Obligations incurred under or arising in connection with Portfolio Investments.
. No Managing Entity shall create or suffer to exist any Lien (other than Permitted Liens) upon its respective Ownership Interest in any Borrower, nor shall any Managing Entity engage in any material activities or operate any other business other than in connection with serving as Managing Entity of the applicable Borrower or as a managing entity of affiliates of a Borrower (to the extent permitted in the applicable Constituent Documents). No Managing Entity will delegate or assign: (a)(i) any of its rights to issue Capital Calls, (ii) any of its rights to require that the Investors make Capital Contributions or (iii) any other right or remedy relating to the Collateral hereunder (including enforcement of the Investors’ obligations to make Capital Contributions in accordance with the applicable Governing Agreement) or (b) any of its rights to consent to the transfer by any Investor of its Ownership Interest in a Borrower.
. No Borrower Party shall to the knowledge of its Responsible Officers permit any Loan or the proceeds of any Credit Extension: (a) to be lent, contributed or otherwise made available to fund any activity or business in any Designated Jurisdiction; (b) to fund any activity or business of any Sanctioned Person or any Person located, organized, formed, incorporated or residing in any Designated Jurisdiction or who is the subject of any Sanctions; or (c) in any other manner that will result in any material violation by any Person (including any Lender, Arranger, Letter of Credit Issuer or Administrative Agent) of any Sanctions.
. No Borrower shall reinvest current cash flow from Portfolio Investments and/or net proceeds from Portfolio Investment dispositions into another Portfolio Investment (other than cash or cash equivalents) if such reinvestment would reduce the Unfunded Commitment of any Investor and cause a Mandatory Prepayment Event, unless with respect to this Section 9.12, prior to such reinvestment, the Borrowers shall make any prepayment required as a result of a resulting Mandatory Prepayment Event.
. An “Event of Default” shall exist if any one or more of the following events shall occur and be continuing:
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. If an Event of Default shall have occurred and be continuing, then Administrative Agent may, and, upon the direction of the Required Lenders, shall: (a) suspend the Commitments of Lenders and any obligation of the Letter of Credit Issuer to make L/C Credit Extensions until such Event of Default is cured; (b) terminate the Commitment of Lenders and any obligation of the Letter of Credit Issuer to make L/C Credit Extensions hereunder; (c) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable (including the liability to fund the Letter of Credit Obligations hereunder), whereupon the same shall forthwith become due and payable without presentment, demand, protest, notice of default, notice of acceleration, or of intention to accelerate or other notice of any kind all of which each Borrower Party hereby expressly waives, anything contained herein or in any other Loan Document to the contrary notwithstanding; (d) require that each Borrower Party Cash Collateralize its respective Letter of Credit Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto); (e) cause the Managing Entities to notify the Investors to make Capital Calls in an amount equal to the Obligations as contemplated in Section 10.03; (f) subject to Section 10.03, exercise any right, privilege, or power set forth in the Loan Documents, including, but not limited to, the initiation of Capital Calls of the Capital Commitments (except to the extent a non-exempt “prohibited transaction” under ERISA would result therefrom); (g) subject to Section 10.03, notify any or all parties obligated to a Borrower with respect to the Capital Commitments to make all payments due or to become due thereon to the Collateral Accounts or directly to Administrative Agent on behalf of Secured Parties, at a different account number; or (h) subject to the last sentence of the last paragraph of this Section, without notice of default or demand, pursue and enforce any of Administrative Agent’s or Secured Parties’ rights and remedies under the Loan Documents, or otherwise provided under or pursuant to any applicable law or agreement (except to the extent a non-exempt “prohibited transaction” under ERISA would result therefrom); provided, however, that if any Event of Default specified in Section 10.01(g) or Section 10.01(h) shall occur, the obligation of
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each Lender to make Loans and any obligation of the Letter of Credit Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower Parties to Cash Collateralize the Letter of Credit Obligations as aforesaid with automatically then become effective, in case without further act of Administrative Agent, Letter of Credit Issuer or any Lender, and without presentment, demand, protest, notice of default, notice of acceleration, or of intention to accelerate or other notice of any kind, all of which each Borrower Party hereby expressly waives.
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. Should any Borrower Party fail to perform any covenant, duty, or agreement contained herein or in any of the Loan Documents, and such failure continues beyond any applicable cure period, Administrative Agent may (subject to Section 10.03), but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, each Borrower Party shall, at the request of Administrative Agent promptly pay any amount expended by Administrative Agent in such performance or attempted performance to Administrative Agent at Administrative Agent’s Office, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither any Agent nor any of the other Secured Parties assume any liability or responsibility for the performance of any duties of any Borrower Party, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Borrower Party, or any related Person, nor by any such action shall any Agent or Secured Parties be deemed to create a partnership arrangement with any Borrower Party or any related Person.
. After the exercise of remedies provided for in Section 10.02 (or after the Loans have automatically become immediately due and payable and the Letter of Credit Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 10.02), any amounts received on account of the Obligations shall, subject to the provisions of Section 2.14, be applied by Administrative Agent in the following order:
First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to Administrative Agent and amounts payable under Section 4) payable to Administrative Agent in its capacity as such;
Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the Letter of Credit Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the Letter of Credit Issuer and amounts payable under Section 4), ratably among them in proportion to the respective amounts described in this clause Second payable to them;
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Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and unpaid interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the Letter of Credit Issuer in proportion to their Applicable Percentage;
Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders and the Letter of Credit Issuer in proportion to the respective amounts described in this clause Fourth held by them;
Fifth, to Administrative Agent for the account of the Letter of Credit Issuer, to Cash Collateralize that portion of the Letter of Credit Obligations comprised of the aggregate undrawn amounts of Letters of Credit to the extent not otherwise Cash Collateralized by a Borrower Party pursuant to Sections 2.07 and 2.16; and
Last, the balance, if any, after all of the Obligations have been paid in full, to Borrowers or as otherwise required by Law.
Subject to Sections 2.07(c) and 2.16, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above will be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount will be applied to the other Obligations, if any, in the order set forth above.
. Each Lender and the Letter of Credit Issuer (including any Person that is an assignee, participant, secured party or other transferee with respect to the interest of such Lender in any Principal Obligation or otherwise under this Credit Agreement) hereby irrevocably appoints each Agent to act on its behalf hereunder and under the other Loan Documents and authorizes each Agent to take such actions on its behalf and to exercise such powers as are delegated to such Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Section 11 are solely for the benefit of Agents and the Lenders and no Borrower Party shall have rights as a third party beneficiary of any of (or obligations under) such provisions.
. The Person serving as Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower Party or any Subsidiary or other Affiliate thereof as if such Person were not Administrative Agent hereunder and without any duty to account therefor to the Lenders.
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. No Agent shall have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, no Agent:
No Agent shall be liable for any action taken or not taken by it: (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 10.02 and 12.01); or (ii) in the absence of bad faith, gross negligence or willful misconduct of such Agent (or any Related Parties of such Agent), as determined by a court of competent jurisdiction by final and nonappealable judgment. No Agent shall be deemed to have knowledge of any Default or Event of Default (except with respect to defaults in the payment of principal, interest and fees required to be paid to Administrative Agent for the account of the Lenders) unless and until notice describing the same is given to such Agent by Borrowers, the Letter of Credit Issuer or a Lender.
No Agent shall be responsible for or have any duty to ascertain or inquire into: (i) any statement, warranty or representation made in or in connection with this Credit Agreement or any other Loan Document, notice or financial statement; (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith; (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default; (iv) the validity, enforceability, effectiveness or genuineness of this Credit Agreement, any other Loan Document or any other agreement, instrument or document; or (v) the satisfaction of any condition set forth in Section 6 or elsewhere herein, other than, in the case of the Administrative Agent, to confirm receipt of items expressly required to be delivered to it.
. Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and
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shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Letter of Credit Issuer, Administrative Agent may presume that such condition is satisfactory to such Lender or the Letter of Credit Issuer unless Administrative Agent has received notice to the contrary from such Lender or the Letter of Credit Issuer prior to the making of such Loan or the issuance of such Letter of Credit. Administrative Agent may consult with legal counsel (who may be counsel for any Borrower Party), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in good faith in accordance with the advice of any such counsel, accountants or experts.
. Each Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by such Agent. Each Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Section shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as an Agent. No Agent shall be responsible for the negligence or misconduct of any sub-agents except to the extent a court of competent jurisdiction determines in a final and non-appealable judgment that such Agent acted with bad faith, gross negligence or willful misconduct in the selection of such sub-agents.
.
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. Each Lender and the Letter of Credit Issuer acknowledges that it has, independently and without reliance upon any Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Credit Agreement. Each Lender and the Letter of Credit Issuer also acknowledges that it will, independently and without reliance upon any Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Credit Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.
. Anything herein to the contrary notwithstanding, the Arranger or other titled parties listed on the cover page hereof shall not have any powers, duties or responsibilities under this Credit Agreement or any of the other Loan Documents, except in its capacity, as applicable, as an Agent, the Letter of Credit Issuer or a Lender hereunder.
. In case of the pendency of any proceeding under any Debtor Relief Laws relative to any Borrower Party, Administrative Agent (irrespective of whether the principal of any Loan or Letter of Credit Obligations
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shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether Administrative Agent shall have made any demand on Borrower Parties) shall be entitled and empowered, by intervention in such proceeding or otherwise:
Nothing contained herein shall be deemed to authorize Administrative Agent to authorize or consent to or accept or adopt on behalf of any Secured Party any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Secured Party or to authorize Administrative Agent to vote in respect of the claim of any Secured Party in any such proceeding.
. Without limiting the provisions of Section 11.09, Secured Parties irrevocably authorize Administrative Agent, at its option and in its discretion to release any Lien on any property granted to or held by Administrative Agent under any Loan Document: (a) upon termination of the Commitments and payment in full of all Obligations (other than contingent indemnification obligations) and the expiration or termination of all Letters of Credit prior to draws thereon (other than Letters of Credit as to which other arrangements satisfactory to Administrative Agent and the Letter of Credit Issuer have been made); (b) that is sold, transferred or otherwise disposed of or to be sold, transferred or otherwise disposed of as part of or in connection with any sale, transfer or other disposition permitted hereunder or under any other Loan Document; or (c) subject to Section 12.01, if approved, authorized or ratified in writing by the Required Lenders. Upon request by Administrative Agent at any time, the Secured Parties will confirm in writing Administrative Agent’s authority to release its interest in particular types or items of property pursuant to this Section 11.10.
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. Neither this Credit Agreement nor any other Loan Document, nor any of the terms hereof or thereof, may be amended, waived, discharged or terminated (other than in accordance with its terms or as otherwise set forth herein, including pursuant to Section 4.08), unless such amendment, waiver, discharge, or termination is in writing and signed by Required Lenders (and the Administrative Agent) or Administrative Agent (based upon the approval of Required Lenders), on the one hand, and Borrowers on the other hand; provided, that, if this Credit Agreement or any other Loan Document specifically provides that the terms thereof may be amended, waived, discharged or terminated with the approval of Administrative Agent, acting alone, each Lender directly affected thereby, the Required Lenders or all Lenders, then such amendment, waiver, discharge or termination must be signed by Administrative Agent, each Lender directly affected thereby, the Required Lenders or all Lenders (together with the Administrative Agent), as applicable, on the one hand, and Borrowers on the other hand; provided further, that no such amendment, waiver, discharge, or termination shall, without the consent of the Administrative Agent and:
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Notwithstanding the above: (A) no provisions of Section 11 may be amended or modified without the consent of Administrative Agent; and (B) no provisions of Section 2.07 or Section 2.12 may be amended or modified without the consent of the Letter of Credit Issuer, and (C) Sections 8 and 9 specify the requirements for waivers of the affirmative covenants and negative covenants listed therein, and, as applicable, any amendment to any provision of Section 8 or 9 shall require the consent of the Administrative Agent and the Lenders that are specified therein as required for a waiver thereof.
Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender; and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender.
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Administrative Agent agrees that it will promptly notify the Lenders of any proposed modification, waiver or amendment to any Loan Document, and deliver drafts of such proposed modification, waiver or amendment to the Lenders, prior to the effectiveness of such proposed modification, waiver or amendment, but providing such notice (other than in order to obtain the necessary consents required above) shall not be a condition to the effectiveness of any such modification, waiver or amendment.
Notwithstanding the fact that the consent of all the Lenders is required in certain circumstances as set forth above and in Section 12: (1) each Lender is entitled to vote as such Lender sees fit on any reorganization plan that affects the Loans or the Letters of Credit, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code supersede the unanimous consent provisions set forth herein; and (2) the Required Lenders may consent to allow a Borrower Party to use cash collateral in the context of a bankruptcy or insolvency proceeding. Administrative Agent may, after consultation with the Borrower Parties, agree to the modification of any term of this Credit Agreement or any other Loan Document to correct any printing, stenographic or clerical errors or omissions that are inconsistent with the terms hereof or to fix any obvious error or any error or omission of technical or immaterial nature.
If the Administrative Agent shall request the consent of any Lender to any amendment, change, waiver, discharge, termination, consent or exercise of rights covered by this Credit Agreement, and shall not receive such consent or denial thereof in writing within 10 Business Days of the making of such request by the Administrative Agent, such Lender shall be deemed to have given its consent to the request.
. If an Event of Default shall have occurred and be continuing, each Lender, the Letter of Credit Issuer and each of its respective Affiliates is hereby authorized at any time and from time to time (but subject to Section 10.03), to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the Letter of Credit Issuer or any such Affiliate to or for the credit or the account of any Borrower Party against any and all of the obligations of such Borrower Party now or hereafter existing under this Credit Agreement or any other Loan Document to such Lender or the Letter of Credit Issuer or their respective Affiliates, irrespective of whether or not Administrative Agent or such Lender, the Letter of Credit Issuer or Affiliate shall have made any demand under this Credit Agreement or any other Loan Document and although such obligations of such Borrower Party may be owed to a branch or office of such Lender or the Letter of Credit Issuer different from the branch or office holding such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff: (a) all amounts so set off shall be paid over immediately to Administrative Agent for further application in accordance with the provisions of Section 2.14 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of Administrative Agent and the Lenders; and (b) the Defaulting Lender shall provide promptly to Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the Letter of Credit Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the Letter of Credit Issuer or their respective Affiliates may have. Each Lender and the Letter of Credit Issuer agrees to notify Borrowers and Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application.
. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Loans made by it or the participations in the Letter of
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Credit Obligations, resulting in such Lender receiving payment of a proportion of the aggregate amount of such Loans or participations and accrued interest and any applicable spread adjustment thereon greater than its pro-rata share thereof as provided herein, then:
Each Borrower Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Borrower Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower Party in the amount of such participation.
. To the extent that any Borrower Party makes a payment to Administrative Agent, any Lender, or the Letter of Credit Issuer, or Administrative Agent, any Lender, or the Letter of Credit Issuer exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by Administrative Agent, such Lender, or the Letter of Credit Issuer, each in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then: (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and the Letter of Credit Issuer severally agrees to pay to Administrative Agent upon demand its applicable share of any amount so recovered from or repaid by Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect, in the applicable currency of such recovery or payment.
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. No failure by any Lender, the Letter of Credit Issuer or Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided and provided under each other Loan Document are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.
Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Borrower Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, Administrative Agent in accordance with Section 11.02 for the benefit of all Secured Parties; provided, however, that the foregoing shall not prohibit: (a) Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents; (b) the Letter of Credit Issuer from exercising the rights and remedies that inure to its benefit (solely in its capacity as Letter of Credit Issuer) hereunder and under the other Loan Documents; (c) any Lender from exercising setoff rights in accordance with Section 12.02 (subject to the terms of Sections 10.03 and 12.03); or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Borrower Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents; then: (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 11.02; and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 11.03, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders.
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. Pursuant to Section 5-1401 of the New York General Obligations Law, the substantive laws of the State of New York applicable to agreements made and to be performed entirely within such state, without regard to the choice of law principles that might otherwise apply (except to the extent the laws of another jurisdiction govern the creation, perfection, validity, or enforcement of Liens under the Collateral Documents), and the applicable federal laws of the United States of America, shall govern the validity, construction, enforcement and interpretation of this Credit Agreement and all of the other Loan Documents.
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. If any provision of this Credit Agreement is held to be illegal, invalid, or unenforceable under present or future laws effective during the term of this Credit Agreement, such provision shall be fully severable and this Credit Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Credit Agreement, and the remaining provisions of this Credit Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Credit Agreement, unless such continued effectiveness of this Credit Agreement, as modified, would be contrary to the basic understandings and intentions of the parties as expressed herein. If any provision of this Credit Agreement shall conflict with or be inconsistent with any provision of any of the other Loan Documents, then the terms, conditions and provisions of this Credit Agreement shall prevail.
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Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower Parties, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103‑1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Credit Agreement notwithstanding any notice to the contrary.
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.
. If (i) any Funding Party requests compensation under Section 4.04, (ii) any Borrower Party is required (or is likely to be required) to pay any additional amount to any Funding Party or any Governmental Authority for the account of any Funding Party pursuant to Section 4.01, (iii) any Funding Party gives notice pursuant to Section 4.03, (iv) any Funding Party does not provide any consent requested by Borrowers pursuant to Section 12.01, or (v) any Funding Party is a Defaulting Lender (in any such case, an “Affected Funding Party”), then Borrowers may, at its sole expense and effort:
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A Funding Party shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Funding Party or otherwise, the circumstances entitling Borrowers to require such assignment and delegation cease to apply; or
provided that (i) Borrowers shall have paid to Administrative Agent its customary processing and recordation fee; provided, however, that Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment; (ii) such Funding Party shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest and any applicable spread adjustment thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 4.05) from the assignee (to the extent of such outstanding principal and accrued interest, any applicable spread adjustment and fees) or Borrowers (in the case of all other amounts); (iii) in the case of any such assignment resulting from a claim for compensation under Section 4.04 or payments required to be made pursuant to Section 4.01, such assignment will result in a reduction in such compensation or payments thereafter; and (iv) such assignment does not conflict with applicable Laws.
. Regardless of any provision contained in any of the Loan Documents, a Funding Party shall never be entitled to receive, collect or apply as interest on the Obligations any amount in excess of the Maximum Rate, and, in the event that a Funding Party ever receive, collect or apply as interest any such excess, the amount which would be excessive interest shall be deemed to be a partial prepayment of principal and treated hereunder as such; and, if the principal amount of the Obligations is paid in full, any remaining excess shall forthwith be paid to the applicable Borrower Party. In determining whether or not the interest paid or payable under any specific contingency exceeds the Maximum Rate, each Borrower Party and Funding Parties shall, to the maximum extent permitted under applicable law: (a) characterize any non-principal payment as an expense, fee or premium rather than as interest; (b) exclude voluntary prepayments
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and the effects thereof; and (c) amortize, prorate, allocate and spread, in equal parts, the total amount of interest throughout the entire contemplated term of the Obligations so that the interest rate does not exceed the Maximum Rate; provided that, if the Obligations are paid and performed in full prior to the end of the full contemplated term thereof, and if the interest received for the actual period of existence thereof exceeds the Maximum Rate, the applicable Funding Party shall refund to the applicable Borrower Party the amount of such excess or credit the amount of such excess against the principal amount of the Obligations and, in such event, Funding Parties shall not be subject to any penalties provided by any laws for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Rate. As used herein, the term “applicable law” shall mean the law in effect as of the date hereof; provided, however, that in the event there is a change in the law which results in a higher permissible rate of interest, then the Loan Documents shall be governed by such new law as of its effective date.
. Section headings are for convenience of reference only and shall in no way affect the interpretation of this Credit Agreement.
. All representations and warranties made hereunder and in any other Loan Document, report, notice, certificate or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by Administrative Agent, each Lender and the Letter of Credit Issuer, regardless of any investigation made by any Secured Party or on their behalf and notwithstanding that a Secured Party may have had notice or knowledge of any Default or Event of Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit remains outstanding.
. Except with respect to any expenses and direct or actual losses (as opposed to Consequential Damages) arising from any Managing Entity’s intentional misrepresentation hereunder, fraud, bad faith or willful misapplication of proceeds in contravention of this Credit Agreement, for which there shall be full recourse to such Managing Entity, none of the Investors, including the Managing Entities, shall have any personal, partnership, corporate or trust liability for the payment or performance of the Obligations. Nothing contained in this Section 12.17 or in any of the other provisions of the Loan Documents, or other reports, financial statements, notices or certificates delivered in connection herewith and therewith, shall be construed to limit, restrict, or impede the obligations, the liabilities, and indebtedness of any Borrower Party, or of any Investor to make its Capital Contributions to a Borrower in accordance with the terms of the applicable Governing Agreement and its Subscription Agreement. Notwithstanding anything contained in this Section 12.17, the payment and performance of the Obligations shall be fully recourse to Borrower Parties (but not the Managing Entities, except as expressly provided herein) and their respective properties and assets.
. Administrative Agent, each Lender and the Letter of Credit Issuer agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed: (a) to its and its Affiliates’ respective partners, directors, officers, employees, representatives, advisors and agents, including accountants, legal counsel and other advisors in each case on a reasonable need to know basis (it being understood that (x) the Persons to whom such disclosure is made will be informed of the confidential nature
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of such Information and instructed to keep such Information confidential and (y) the disclosing Person shall be responsible for the compliance by the foregoing Persons with this Section); (b) to the extent requested by any regulatory authority; (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process; (d) to any other party to this Credit Agreement; (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Credit Agreement or the enforcement of rights hereunder; (f) subject to an agreement containing provisions substantially the same as those of this Section to which the Borrower Parties are intended third party beneficiaries entitled to enforce such agreement, to: (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this Credit Agreement; or (ii) any direct or indirect contractual counterparty or prospective counterparty (or such contractual counterparty’s or prospective counterparty’s professional advisor) to any credit derivative transaction relating to obligations of the Borrower Parties; (g) on a confidential basis to: (i) any Rating Agency in connection with a rating of Borrower Parties or the credit facility provided hereunder; or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facility provided hereunder; (h) with the consent of the applicable Borrower Party; (i) to the extent such Information: (x) becomes publicly available other than as a result of a breach of this Section; or (y) becomes available to Administrative Agent or any Lender on a non-confidential basis from a source other than a Borrower Party or another Lender; or (j) to the National Association of Insurance Commissioners or any other similar organization or Rating Agency, commercial paper dealer first loss provider, service provider, provider of credit enhancement or liquidity to such Lender or any Person providing financing to, or holding equity interest in, such Lender, any to any officers, directors, employees, outside accountants or attorneys of any of the foregoing. For the purposes of this Section, “Information” means all information received from any Borrower Party relating to any Borrower Party or its business, other than any such information that is available to Administrative Agent or any Lender on a non-confidential basis prior to disclosure by such Person; provided that, in the case of information received from any Borrower Party after the date hereof, such information is clearly identified in writing at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.
. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of each Borrower Party in respect of any such sum due from it to Administrative Agent or the Lenders hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Credit Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by Administrative Agent of any sum adjudged to be so due in the Judgment Currency, Administrative Agent may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to Administrative Agent from any Borrower Party in the Agreement Currency, such Borrower Party agrees, as a separate obligation and notwithstanding any such judgment, to indemnify Administrative Agent or the Person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to Administrative Agent in such currency, Administrative Agent agrees to promptly return the amount of any excess to such Borrower Party (or to any other Person who may be entitled thereto under applicable law).
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. Each Lender, Letter of Credit Issuer and Administrative Agent (for itself and not on behalf of any Secured Party) hereby notifies Borrowers that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies Borrower Parties, which information includes the name and address of Borrower Parties and other information that will allow such Secured Party or Administrative Agent, as applicable, to identify Borrower Parties in accordance with the Patriot Act. Each Borrower Party will, promptly following a request by Administrative Agent, the Letter of Credit Issuer or any Lender, provide all documentation and other information that Administrative Agent or such Letter of Credit Issuer or Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti‑money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation.
. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), Borrowers and each other Borrower Party acknowledge and agree that: (a)(i) the arranging and other services regarding this Credit Agreement provided by Administrative Agent and the Arranger, are arm’s-length commercial transactions between Borrowers and each other Borrower Party, on the one hand, and Administrative Agent and the Arranger, on the other hand; (ii) Borrowers and each other Borrower Party have consulted their own legal, accounting, regulatory and tax advisors to the extent they have deemed appropriate; and (iii) Borrowers and each other Borrower Party are capable of evaluating, and understands and accept, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (b)(i) each of Administrative Agent and the Arranger is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for any Borrower or any other Borrower Party, or any other Person; and (ii) neither Administrative Agent nor the Arranger has any obligation to any Borrower or any other Borrower Party with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (c) Administrative Agent and the Arranger and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of any Borrower or any other Borrower Party and their respective Affiliates, and neither Administrative Agent nor the Arranger has any obligation to disclose any of such interests to any Borrower or any other Borrower Party or any of their respective Affiliates. To the fullest extent permitted by law, Borrowers and each other Borrower Party hereby waive and release any claims that it may have against Administrative Agent or the Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.
. Each Lender represents and warrants that it is (and its Participants, if any, will be) a Qualified Purchaser.
. This Credit Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Credit Agreement, and the other Loan Documents constitute the entire
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contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 6.01, this Credit Agreement shall become effective when it shall have been executed by Administrative Agent and when Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Credit Agreement by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Credit Agreement.
. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or Letter of Credit Issuer that is an Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
Remainder of Page Intentionally Left Blank
Signature Pages Follow.
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IN WITNESS WHEREOF, the parties hereto have caused this Credit Agreement to be duly executed as a deed as of the day and year first above written.
INITIAL BORROWER: |
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GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC
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By: |
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Name: |
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Title: |
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Signature Page to
Revolving Credit Agreement
ADMINISTRATIVE AGENT: |
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MUFG BANK, LTD., as Administrative Agent |
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By: |
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Name: |
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Title: |
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Signature Page to
Revolving Credit Agreement
LENDERS: |
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MUFG UNION BANK, N.A._______________, as Letter of Credit Issuer and a Lender |
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By: |
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Name: |
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Title: |
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Signature Page to
Revolving Credit Agreement
________________, as a Lender |
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By: |
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Name: |
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Title: |
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Signature Page to
Revolving Credit Agreement
Schedule 1.01
LENDER COMMITMENTS
Lender |
Commitments of Lender |
Applicable Percentage |
MUFG Union Bank, N.A.Ltd. |
$73,000,00022,750,000 |
25.000000000%45.454545454% |
Western Alliance Bank |
$73,000,000 |
25.000000000% |
Societe Generale |
$58,400,000 |
20.000000000% |
PNC Bank, National Association |
$58,400,00018,200,000 |
20.000000000%36.363636364% |
M&T Bank (as successor by merger to People’s United Bank National Association) |
$29,200,0009,100,000 |
10.000000000%18.181818182% |
TOTAL |
$292,000,00050,050,000 |
100% |
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Schedule 1.01
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Schedule 8.01
RESPONSIBLE OFFICERS
Initial Borrower:
Title: Name:
Managing Director Brendan McGovern
Managing Director Jordan Walter
Managing Director Jon Yoder
Managing Director David Yu
Vice President Jonathan Lamm
Vice President Michael Mastropaolo
Name: |
Title: |
Alex Chi |
Co-Chief Executive Officer and Co-President |
David Miller |
Co-Chief Executive Officer and Co-President |
Gabriella N. Skirnick |
Chief Operating Officer |
David Pessah |
Chief Financial Officer and Treasurer, and Principal Accounting Officer |
Caroline L. Kraus |
Secretary and Chief Legal Officer |
Justin Betzen |
Vice President |
Tucker Greene |
Vice President |
Greg Watts |
Vice President |
Jennifer Yang |
Vice President |
Schedule 8.01
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Schedule 12.07
ADDRESSES FOR NOTICE
If to a Borrower Party or a Managing Entity:
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If to Administrative Agent:
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c/o Goldman Sachs Asset Management, L.P. 200 West Street New York, New York 10282 Attention: Clifford Deguerre Phone: (212) 357-3067 Fax: (212) 256-2224 Email: clifford.deguerre@gs.com PEG-Reporting@gs.com |
MUFG Bank, Ltd. 445 S. Figueroa Street, 16th Floor Los Angeles, California 90071 Attention: Rafael Vistan Phone: (213) 236-7688 Email: rvistan@us.mufg.jp
With a copy to:
MUFG Bank, Ltd. 1221 Avenue of the America, 7th Floor New York, New York 10020 Attention: William Gonska Phone: (646) 767.1562 Email: wgonska@us.mufg.jp
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Schedule 12.07
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Exhibit 31.1
CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER
UNDER SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Alex Chi, certify that:
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1. |
I have reviewed this Quarterly Report on Form 10-Q of Goldman Sachs Private Middle Market Credit II LLC; |
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2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
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3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
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4. |
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
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(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
|
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
|
5. |
The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
|
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
|
(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: August 8, 2023
|
/s/ Alex Chi |
Alex Chi Co-Chief Executive Officer and Co-President (Co-Principal Executive Officer) |
Exhibit 31.2
CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER
UNDER SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, David Miller, certify that:
|
1. |
I have reviewed this Quarterly Report on Form 10-Q of Goldman Sachs Private Middle Market Credit II LLC; |
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
|
4. |
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
|
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
|
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
|
5. |
The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
|
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
|
(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: August 8, 2023
|
/s/ David Miller |
David Miller Co-Chief Executive Officer and Co-President (Co-Principal Executive Officer) |
Exhibit 31.3
CERTIFICATION OF CHIEF FINANCIAL OFFICER
UNDER SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, David Pessah, certify that:
|
1. |
I have reviewed this Quarterly Report on Form 10-Q of Goldman Sachs Private Middle Market Credit II LLC; |
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
|
4. |
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
|
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
|
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
|
5. |
The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
|
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
|
(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: August 8, 2023
|
/s/ David Pessah |
David Pessah Chief Financial Officer and Treasurer (Principal Financial Officer) |
Exhibit 32.1
Certification of Co-Chief Executive Officer
Pursuant to
18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
In connection with the Quarterly Report on Form 10-Q of Goldman Sachs Private Middle Market Credit II LLC (the “Company”) for the quarter ended June 30, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Alex Chi, as Co-Chief Executive Officer of the Company, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:
1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Date: August 8, 2023 |
|
/s/ Alex Chi |
Alex Chi Co-Chief Executive Officer and Co-President (Co-Principal Executive Officer) |
|
Exhibit 32.2
Certification of Co-Chief Executive Officer
Pursuant to
18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
In connection with the Quarterly Report on Form 10-Q of Goldman Sachs Private Middle Market Credit II LLC (the “Company”) for the quarter ended June 30, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), David Miller, as Co-Chief Executive Officer of the Company, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:
1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Date: August 8, 2023 |
|
/s/ David Miller |
David Miller Co-Chief Executive Officer and Co-President (Co-Principal Executive Officer) |
|
Exhibit 32.3
Certification of Chief Financial Officer
Pursuant to
18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
In connection with the Quarterly Report on Form 10-Q of Goldman Sachs Private Middle Market Credit II LLC (the “Company”) for the quarter ended June 30, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), David Pessah, as Chief Financial Officer of the Company, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:
1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Date: August 8, 2023 |
|
/s/ David Pessah |
David Pessah Chief Financial Officer and Treasurer (Principal Financial Officer) |
|
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Non-controlled/non-affiliated investments at cost | $ 2,700,568 | $ 2,691,993 |
Non-controlled affiliated investments at cost | 17,977 | 10,576 |
Investments at cost | 2,718,545 | 2,702,569 |
Investments in affiliated money market fund at cost | $ 134,787 | $ 122,499 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares, issued | 13,854,750 | 13,694,584 |
Common stock, shares, outstanding | 13,854,750 | 13,694,584 |
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Net Investment Income [Line Items] | ||||
Total investment income | $ 83,075 | $ 50,891 | $ 161,236 | $ 97,758 |
Expenses: | ||||
Interest and other debt expenses | 29,966 | 14,992 | 59,039 | 27,141 |
Management fees | 4,683 | 3,954 | 9,316 | 7,705 |
Incentive fees | 7,555 | 2,352 | 8,918 | 6,345 |
Professional fees | 377 | 322 | 858 | 726 |
Directors' fees | 75 | 72 | 148 | 143 |
Other general and administrative expenses | 668 | 633 | 1,390 | 1,249 |
Total expenses | 43,324 | 22,325 | 79,669 | 43,309 |
Net investment income | 39,751 | 28,566 | 81,567 | 54,449 |
Net realized gain (loss) from: | ||||
Non-controlled/non-affiliated investments | (37,358) | (5,325) | (37,352) | (5,325) |
Foreign currency transactions | 10 | (1) | 8 | (1) |
Net change in unrealized appreciation (depreciation) from: | ||||
Non-controlled/non-affiliated investments | 41,125 | (11,013) | 7,788 | (14,528) |
Non-controlled affiliated investments | 231 | 261 | ||
Foreign currency translations | (596) | 1,031 | (982) | 1,453 |
Net realized and unrealized gains (losses) | 3,412 | (15,308) | (30,277) | (18,401) |
(Provision) benefit for taxes on unrealized appreciation/depreciation on investments | (352) | 69 | (757) | (94) |
Net increase in members' capital from operations | $ 42,811 | $ 13,327 | $ 50,533 | $ 35,954 |
Weighted average units outstanding | 13,750,906 | 10,414,230 | 13,722,900 | 10,355,771 |
Net investment income per unit (basic and diluted) | $ 2.89 | $ 2.74 | $ 5.94 | $ 5.26 |
Earnings Per Share, Basic | 3.11 | 1.28 | 3.68 | 3.47 |
Earnings Per Share, Diluted | $ 3.11 | $ 1.28 | $ 3.68 | $ 3.47 |
From Non-controlled/ Non-affiliated Investments | ||||
Net Investment Income [Line Items] | ||||
Interest income | $ 73,248 | $ 46,509 | $ 143,440 | $ 89,643 |
Payment-in-kind income | 6,915 | 3,527 | 12,520 | 6,418 |
Other income | 644 | $ 855 | 1,560 | $ 1,697 |
From Non-controlled Affiliated Investments | ||||
Net Investment Income [Line Items] | ||||
Dividend income | 1,967 | 3,129 | ||
Interest income | 291 | 566 | ||
Other income | $ 10 | $ 21 |
Consolidated Statements of Changes in Members' Capital (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|||
Statement of Partners' Capital [Abstract] | ||||||
Members' capital at beginning of period | $ 1,248,232 | $ 1,007,775 | $ 1,240,510 | $ 985,148 | ||
Increase in members' capital from operations: | ||||||
Net investment income | 39,751 | 28,566 | 81,567 | 54,449 | ||
Net realized gain (loss) | (37,348) | (5,326) | (37,344) | (5,326) | ||
Net change in unrealized appreciation (depreciation) | 40,760 | (9,982) | 7,067 | (13,075) | ||
(Provision) benefit for unrealized appreciation/depreciation on investments | (352) | 69 | (757) | (94) | ||
Net increase in members' capital from operations | 42,811 | 13,327 | 50,533 | 35,954 | ||
Distributions to unitholders from: | ||||||
Distributable earnings | (41,500) | (29,899) | (41,500) | (29,899) | ||
Total distributions to unitholders | (41,500) | (29,899) | (41,500) | (29,899) | ||
Capital transactions: | ||||||
Issuance of units | 14,758 | 103,307 | 14,758 | 103,307 | ||
Net increase in members' capital from capital transactions | 14,758 | 103,307 | 14,758 | 103,307 | ||
Total increase in members' capital | 16,069 | 86,735 | 23,791 | 109,362 | ||
Members' capital at end of period | [1] | $ 1,264,301 | $ 1,094,510 | $ 1,264,301 | $ 1,094,510 | |
Distributions per unit | $ 3.03 | $ 2.9 | $ 3.03 | $ 2.9 | ||
|
Consolidated Statements of Cashflows - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Cash flows from operating activities: | ||
Net increase in members' capital from operations: | $ 50,533 | $ 35,954 |
Adjustments to reconcile net increase (decrease) in members' capital from operations to net cash provided by (used for) operating activities: | ||
Purchases of investments | (90,662) | (404,540) |
Payment-in-kind interest capitalized | (11,544) | (6,470) |
Investments in affiliated money market fund, net | (12,288) | (1,047) |
Proceeds from sales of investments and principal repayments | 53,962 | 67,404 |
Net realized (gain) loss | 37,352 | 5,325 |
Net change in unrealized (appreciation) depreciation on investments | (8,049) | 14,528 |
Net change in unrealized (appreciation) depreciation on foreign currency transactions | (13) | 24 |
Amortization of premium and accretion of discount, net | (5,084) | (4,547) |
Amortization of deferred financing costs | 1,650 | 1,647 |
Change in operating assets and liabilities: | ||
(Increase) decrease in receivable for investments sold | (1,765) | |
(Increase) decrease in receivable for common units sold | (629) | |
(Increase) decrease in interest and dividends receivable | 6,794 | (8,473) |
(Increase) decrease in other assets | 533 | (2,457) |
Increase (decrease) in interest and other debt expenses payable | 3,530 | 3,356 |
Increase (decrease) in management fees payable | 85 | 192 |
Increase (decrease) in incentive fees payable | 8,918 | 6,345 |
Increase (decrease) in payable for investments purchased | 2,731 | |
Increase (decrease) in accrued expenses and other liabilities | 480 | (379) |
Net cash provided by (used for) operating activities | 36,197 | (292,801) |
Cash flows from financing activities: | ||
Proceeds from issuance of common units | 14,758 | 103,307 |
Distributions paid | (119,568) | (58,262) |
Financing costs paid | (410) | (2,796) |
Borrowings on debt | 69,491 | 398,026 |
Repayments of debt | (33,000) | (129,000) |
Net cash provided by (used for) financing activities | (68,729) | 311,275 |
Net increase (decrease) in cash | (32,532) | 18,474 |
Effect of foreign exchange rate changes on cash and cash equivalents | 13 | (24) |
Cash, beginning of period | 36,657 | 31,602 |
Cash, end of period | 4,138 | 50,052 |
Supplemental and non-cash activities | ||
Interest expense paid | 52,827 | $ 21,023 |
Exchange of investments | $ 6,075 |
Consolidated Schedule of Investments £ in Thousands, $ in Thousands, $ in Thousands |
6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023
USD ($)
shares
|
Dec. 31, 2022
USD ($)
shares
|
Jun. 30, 2023
CAD ($)
shares
|
Jun. 30, 2023
GBP (£)
shares
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Nov. 06, 2026 | Nov. 06, 2026 | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 2,718,545 | $ 2,702,569 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | 211.40% | 213.40% | 211.40% | 211.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MerchantWise Solutions, LLC (dba HungerRush) Diversified Financial Services Interest Rate 9.31% Reference Rate and Spread S + 6.00% Maturity 06/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.31% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 19,779 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 19,415 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 19,186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | 1.53% | [10] | 1.47% | [11],[12] | 1.53% | [10] | 1.53% | [10] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche (7) - 1.47% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [11] | $ 18,410 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [11] | $ 18,243 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche (7) - 1.47% EDB Parent, LLC (dba Enterprise DB) Software Interest Rate 11.58% Reference Rate and Spread S + 7.00% Maturity 07/07/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[11] | 11.58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[11] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[11] | Jul. 07, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[11] | $ 17,879 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[11] | 17,425 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[11] | $ 17,432 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche (7) - 1.47% EDB Parent, LLC (dba Enterprise DB) Software Interest Rate 11.58% Reference Rate and Spread S + 7.00% Maturity 07/07/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[11],[13] | 11.58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[11],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[11],[13] | Jul. 07, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[11],[13] | $ 6,958 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[11],[13] | 985 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[11],[13] | $ 811 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [12] | 206.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 204.03% | 204.03% | 204.03% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 0.67% | 0.67% | 0.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [12] | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 15,384 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 9,246 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt 0.75% Zep Inc. Chemicals Interest Rate 12.98% Reference Rate and Spread L + 8.25% Maturity 08/11/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[7] | 12.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7] | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5] | Aug. 11, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[9] | $ 15,410 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5] | 15,384 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5] | 9,246 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 10,996 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 11,903 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96%, Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings), Software, Initial Acquisition Date 03/10/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Mar. 10, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 26,555 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 2,655 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 2,124 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96%, Exostar LLC - Class B, Aerospace & Defense, Initial Acquisition Date 07/06/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Jul. 06, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 1,424,165 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 1,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96%, Foundation Software - Class B, Construction & Engineering, Initial Acquisition Date 08/31/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Aug. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 490,234 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 431 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96%, Southeast Mechanical, LLC (dba. SEM Holdings, LLC), Diversified Consumer Services, Initial Acquisition Date 07/06/22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15],[16] | Jul. 06, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14],[16] | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14],[16] | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14],[16] | $ 1,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96%, Total Vision LLC, Health Care Providers & Services, Initial Acquisition Date 07/15/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 115,714 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 2,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 1,971 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96%, Volt Bidco, Inc. (dba Power Factors), Independent Power and Renewable Electricity Producers, Initial Acquisition Date 08/11/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Aug. 11, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 3,044 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 3,091 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 2,765 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 0.96%, Whitewater Holding Company LLC, Diversified Consumer Services, Initial Acquisition Date 12/21/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Dec. 21, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 21,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 2,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 2,162 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 10,996 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 13,440 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 1.06% | 1.06% | 1.06% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings), Software, Initial Acquisition Date 03/10/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Mar. 10, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 26,555 | 26,555 | 26,555 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 2,655 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 2,456 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, Exostar LLC - Class B, Aerospace & Defense, Initial Acquisition Date 07/06/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Jul. 06, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 1,424,165 | 1,424,165 | 1,424,165 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 1,752 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, Foundation Software - Class B, Construction & Engineering, Initial Acquisition Date 08/31/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Aug. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 490,234 | 490,234 | 490,234 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 431 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, MedeAnalytics, Inc., Health Care Technology, Initial Acquisition Date 04/21/23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [3],[17],[18],[20] | Apr. 21, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [3],[17],[19],[20] | 373 | 373 | 373 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, Southeast Mechanical, LLC (dba. SEM Holdings, LLC), Diversified Consumer Services, Initial Acquisition Date 07/06/22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18],[20] | Jul. 06, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19],[20] | 1,000 | 1,000 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17],[20] | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17],[20] | $ 1,455 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, Total Vision LLC, Health Care Providers & Services, Initial Acquisition Date 07/15/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 115,714 | 115,714 | 115,714 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 2,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 2,106 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, Volt Bidco, Inc. (dba Power Factors), Independent Power and Renewable Electricity Producers, Initial Acquisition Date 08/11/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Aug. 11, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 3,044 | 3,044 | 3,044 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 3,091 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 3,315 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock - 1.06%, Whitewater Holding Company LLC, Diversified Consumer Services, Initial Acquisition Date 12/21/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Dec. 21, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 21,000 | 21,000 | 21,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 2,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | 1,925 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Common Stock -0.96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [12] | 0.96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (11) - 1.53% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 19,531 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 19,326 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (11) - 1.53% EDB Parent, LLC (dba Enterprise DB) Industry Software Interest Rate 11.99% Reference Rate and Spread S + 6.75% Maturity 07/07/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.99% | 11.99% | 11.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 07, 2028 | Jul. 07, 2028 | Jul. 07, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 17,879 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 17,463 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 17,432 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (11) - 1.53% EDB Parent, LLC (dba Enterprise DB) Industry Software Interest Rate 11.99% Reference Rate and Spread S + 6.75% Maturity 07/07/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.99% | 11.99% | 11.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 07, 2028 | Jul. 07, 2028 | Jul. 07, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 6,958 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 2,068 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,894 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 198.65% ESO Solutions, Inc. Industry Health Care Technology Interest Rate 12.25% Reference Rate and Spread S+7.00% Maturity 05/03/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.25% | 12.25% | 12.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | May 03, 2027 | May 03, 2027 | May 03, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 36,294 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | $ 35,789 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 198.65% ESO Solutions, Inc. Industry Health Care Technology Interest Rate 12.33% Reference Rate and Spread S+7.00% Maturity 05/03/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 12.33% | 12.33% | 12.33% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | May 03, 2027 | May 03, 2027 | May 03, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,292 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,933 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | 1,926 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 198.65% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 12.16% Reference Rate and Spread S+5.25% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 35,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 198.65% Everest Clinical Research Corporation. Industry Professional Services Interest Rate 11.05% Reference Rate and Spread S+6.00% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 5,423 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 5,328 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 5,355 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 198.65% Everest Clinical Research Corporation. Industry Professional Services Interest Rate 11.39% Reference Rate and Spread S+6.00% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.39% | 11.39% | 11.39% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 2,626,489 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 2,579,587 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% 1272775 B.C. LTD. (dba Everest Clinical Research) Industry Professional Services Interest Rate 11.39% Reference Rate and Spread S+6.00% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.39% | 11.39% | 11.39% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Nov. 06, 2026 | Nov. 06, 2026 | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 8,502 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 8,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 8,396 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% 1272775 B.C. LTD. (dba Everest Clinical Research) Industry Professional Services Interest Rate 11.70% Reference Rate and Spread CDN P + 4.75% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.70% | 11.70% | 11.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 4.75% | 4.75% | 4.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Nov. 06, 2026 | Nov. 06, 2026 | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 418 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | $ 312 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 311 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% 1272775 B.C. LTD. (dba Everest Clinical Research) Industry Professional Services Interest Rate 12.45% Reference Rate and Spread P + 6.00% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21],[22] | 12.45% | 12.45% | 12.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4],[22] | Nov. 06, 2026 | Nov. 06, 2026 | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19],[22] | $ 846 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4],[22] | 805 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4],[22] | $ 801 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% 3SI Security Systems, Inc Industry Commercial Services & Supplies Interest Rate 12.01% Reference Rate and Spread S + 6.50% Maturity 12/16/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[3],[21] | 12.01% | 12.01% | 12.01% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[3] | Dec. 16, 2026 | Dec. 16, 2026 | Dec. 16, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[3],[19] | $ 2,033 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[3] | 2,018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[3] | $ 1,922 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Interest Rate 12.28% Reference Rate and Spread S + 7.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.28% | 12.28% | 12.28% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 01, 2026 | Jul. 01, 2026 | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 35,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 34,808 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 34,222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Interest Rate 13.17% Reference Rate and Spread S + 7.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 13.17% | 13.17% | 13.17% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jul. 01, 2026 | Jul. 01, 2026 | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 5,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 4,665 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 4,636 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Interest Rate 13.28% Reference Rate and Spread S + 7.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.28% | 13.28% | 13.28% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 01, 2026 | Jul. 01, 2026 | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,127 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,127 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,116 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Reference Rate and Spread S + 7.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 01, 2026 | Jul. 01, 2026 | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 4,160 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (50) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (125) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) Industry Software Interest Rate 11.48% Reference Rate and Spread S + 6.25% Maturity 03/10/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.48% | 11.48% | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Mar. 10, 2027 | Mar. 10, 2027 | Mar. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 14,592 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 14,361 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 14,300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) Industry Software Interest Rate 11.48% Reference Rate and Spread S + 6.25% Maturity 03/10/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.48% | 11.48% | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Mar. 10, 2027 | Mar. 10, 2027 | Mar. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 1,530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 1,518 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 1,499 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) Industry Software Interest Rate 11.48% Reference Rate and Spread S + 6.25% Maturity 03/10/27 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.48% | 11.48% | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Mar. 10, 2027 | Mar. 10, 2027 | Mar. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 698 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 693 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Acquia, Inc. Industry Software Interest Rate 12.29% Reference Rate and Spread L + 7.00% Maturity 10/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Oct. 31, 2025 | Oct. 31, 2025 | Oct. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Acquia, Inc. Industry Software Interest Rate 12.29% Reference Rate and Spread L + 7.00% Maturity 10/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 12.29% | 12.29% | 12.29% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,933 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,490 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,469 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Acquia, Inc. Industry Software Interest Rate 12.34% Reference Rate and Spread L + 7.00% Maturity 10/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.34% | 12.34% | 12.34% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 31, 2025 | Oct. 31, 2025 | Oct. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 24,940 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 24,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 24,442 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Admiral Buyer, Inc. (dba Fidelity Payment Services) Industry Diversified Financial Services Interest Rate 10.74% Reference Rate and Spread S + 5.50% Maturity 05/08/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.74% | 10.74% | 10.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | May 08, 2028 | May 08, 2028 | May 08, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 24,009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 23,604 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 23,648 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Admiral Buyer, Inc. (dba Fidelity Payment Services) Industry Diversified Financial Services Reference Rate and Spread S + 5.50% Maturity 05/08/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | May 08, 2028 | May 08, 2028 | May 08, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 2,330 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (38) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (35) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Admiral Buyer, Inc. (dba Fidelity Payment Services) Industry Diversified Financial Services Reference Rate and Spread S + 5.50% Maturity 05/08/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | May 08, 2028 | May 08, 2028 | May 08, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 6,510 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (53) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (98) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Apptio, Inc. Industry IT Services Interest Rate 10.20% Reference Rate and Spread S + 5.00% Maturity 01/10/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[3],[21] | 10.20% | 10.20% | 10.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[3],[21] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[3] | Jan. 10, 2025 | Jan. 10, 2025 | Jan. 10, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[3],[19] | $ 26,813 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[3] | 26,463 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[3] | $ 26,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Apptio, Inc. Industry IT Services Interest Rate 10.20% Reference Rate and Spread S + 5.00% Maturity 01/10/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[3],[21],[22] | 10.20% | 10.20% | 10.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[3],[21],[22] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[3],[22] | Jan. 10, 2025 | Jan. 10, 2025 | Jan. 10, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[3],[19],[22] | $ 769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[3],[22] | 220 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[3],[22] | $ 223 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Argos Health Holdings, Inc Industry Health Care Providers & Services Interest Rate 10.65% Reference Rate and Spread S + 5.50% Maturity 12/03/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.65% | 10.65% | 10.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 03, 2027 | Dec. 03, 2027 | Dec. 03, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 19,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 19,347 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 19,061 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Aria Systems, Inc. Industry Diversified Financial Services Interest Rate 12.22% Reference Rate and Spread S + 8.00% Maturity 06/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.22% | 13.22% | 13.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 30, 2026 | Jun. 30, 2026 | Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 24,609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 24,325 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 23,624 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Assembly Intermediate LLC Industry Diversified Financial Services Interest Rate 11.84% Reference Rate and Spread S + 6.50% Maturity 10/19/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.84% | 11.84% | 11.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 19, 2027 | Oct. 19, 2027 | Oct. 19, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 39,908 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 39,300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 39,509 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Assembly Intermediate LLC Industry Diversified Financial Services Interest Rate 11.84% Reference Rate and Spread S + 6.50% Maturity 10/19/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.84% | 11.84% | 11.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Oct. 19, 2027 | Oct. 19, 2027 | Oct. 19, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 9,977 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 5,469 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 5,487 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Assembly Intermediate LLC Industry Diversified Financial Services Reference Rate and Spread S + 6.50% Maturity 10/19/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Oct. 19, 2027 | Oct. 19, 2027 | Oct. 19, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 3,991 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (58) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (40) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% BSI3 Menu Buyer, Inc (dba Kydia) Industry Diversified Financial Services Interest Rate 11.22% Reference Rate and Spread S + 6.00% Maturity 01/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.22% | 11.22% | 11.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 25, 2028 | Jan. 25, 2028 | Jan. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 48,084 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 47,413 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 45,680 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% BSI3 Menu Buyer, Inc (dba Kydia) Industry Diversified Financial Services Reference Rate and Spread S + 6.00% Maturity 01/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jan. 25, 2028 | Jan. 25, 2028 | Jan. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 1,924 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (26) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (96) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bigchange Group Limited Industry Software Interest Rate 10.93% Reference Rate and Spread SN + 6.00% Maturity 12/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 10.93% | 10.93% | 10.93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Dec. 23, 2026 | Dec. 23, 2026 | Dec. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19] | £ 10,810 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | $ 14,290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 13,420 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bigchange Group Limited Industry Software Interest Rate 10.93% Reference Rate and Spread SN + 6.00% Maturity 12/23/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21],[22] | 10.93% | 10.93% | 10.93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4],[22] | Dec. 23, 2026 | Dec. 23, 2026 | Dec. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19],[22] | £ 1,629 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4],[22] | $ 1,756 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4],[22] | $ 1,763 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bigchange Group Limited Industry Software Reference Rate and Spread SN + 6.00% Maturity 12/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4],[22] | Dec. 23, 2026 | Dec. 23, 2026 | Dec. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19],[22] | £ 2,160 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4],[22] | $ (42) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4],[22] | $ (62) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Broadway Technology, LLC Industry Diversified Financial Services Interest Rate 11.89% Reference Rate and Spread S + 6.50% Maturity 01/08/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.89% | 11.89% | 11.89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 08, 2026 | Jan. 08, 2026 | Jan. 08, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 23,656 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 23,371 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 23,537 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Broadway Technology, LLC Industry Diversified Financial Services Reference Rate and Spread S + 6.50% Maturity 01/08/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jan. 08, 2026 | Jan. 08, 2026 | Jan. 08, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 1,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bullhorn, Inc. Industry Professional Services Interest Rate 10.95% Reference Rate and Spread S + 5.75% Maturity 09/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 30, 2026 | Sep. 30, 2026 | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 13,491 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 13,348 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 13,289 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bullhorn, Inc. Industry Professional Services Interest Rate 10.95% Reference Rate and Spread S + 5.75% Maturity 09/30/26 Four | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 30, 2026 | Sep. 30, 2026 | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 223 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 221 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 220 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bullhorn, Inc. Industry Professional Services Interest Rate 10.95% Reference Rate and Spread S + 5.75% Maturity 09/30/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 30, 2026 | Sep. 30, 2026 | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,402 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,394 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bullhorn, Inc. Industry Professional Services Interest Rate 10.95% Reference Rate and Spread S + 5.75% Maturity 09/30/26 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 30, 2026 | Sep. 30, 2026 | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 277 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 276 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bullhorn, Inc. Industry Professional Services Interest Rate 10.95% Reference Rate and Spread S + 5.75% Maturity 09/30/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 30, 2026 | Sep. 30, 2026 | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 624 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 618 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 615 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Bullhorn, Inc. Industry Professional Services Reference Rate and Spread S + 5.75% Maturity 09/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Sep. 30, 2026 | Sep. 30, 2026 | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 693 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (10) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Businessolver.com, Inc. Industry Health Care Technology Interest Rate 10.84% Reference Rate and Spread S + 5.50% Maturity 12/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.84% | 10.84% | 10.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 01, 2027 | Dec. 01, 2027 | Dec. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 16,612 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 16,483 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 16,446 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Businessolver.com, Inc. Industry Health Care Technology Interest Rate 10.84% Reference Rate and Spread S + 5.50% Maturity 12/01/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.84% | 10.84% | 10.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 01, 2027 | Dec. 01, 2027 | Dec. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 4,526 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 367 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 340 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 13.25% Reference Rate and Spread S + 7.00% (incl. 0.75% PIK) Maturity 07/01/24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.25% | 13.25% | 13.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 0.75% | 0.75% | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 01, 2024 | Jul. 01, 2024 | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 17,798 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 17,721 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 16,819 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 13.25% Reference Rate and Spread S + 7.00% (incl. 0.75% PIK) Maturity 07/01/24 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.25% | 13.25% | 13.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 0.75% | 0.75% | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 01, 2024 | Jul. 01, 2024 | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 4,471 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 4,451 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 4,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 13.25% Reference Rate and Spread S + 7.00% (incl. 0.75% PIK) Maturity 07/01/24 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 13.25% | 13.25% | 13.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 0.75% | 0.75% | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 01, 2024 | Jul. 01, 2024 | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 914 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 291 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 245 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 13.25% Reference Rate and Spread S + 7.00% (incl. 0.75% PIK) Maturity 07/01/24 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.25% | 13.25% | 13.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 0.75% | 0.75% | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 01, 2024 | Jul. 01, 2024 | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 1,734 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 1,729 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 1,639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CORA Health Holdings Corp Industry Health Care Providers & Services Interest Rate 11.16% Reference Rate and Spread S + 5.75% Maturity 06/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.16% | 11.16% | 11.16% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 15, 2027 | Jun. 15, 2027 | Jun. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 20,442 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 20,235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 17,172 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CORA Health Holdings Corp Industry Health Care Providers & Services Interest Rate 11.16% Reference Rate and Spread S + 5.75% Maturity 06/15/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.16% | 11.16% | 11.16% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 15, 2027 | Jun. 15, 2027 | Jun. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 344 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 341 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 289 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Capitol Imaging Acquisition Corp. Industry Health Care Providers & Services Interest Rate 11.72% Reference Rate and Spread S + 6.50% Maturity 10/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.72% | 11.72% | 11.72% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 01, 2026 | Oct. 01, 2026 | Oct. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 39,622 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 39,149 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 38,433 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Capitol Imaging Acquisition Corp. Industry Health Care Providers & Services Reference Rate and Spread S + 6.50% Maturity 10/01/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Oct. 01, 2025 | Oct. 01, 2025 | Oct. 01, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 9,170 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (86) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (275) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Checkmate Finance Merger Sub, LLC Industry Entertainment Interest Rate 11.84% Reference Rate and Spread S + 6.50% Maturity 12/31/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.84% | 11.84% | 11.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 31, 2027 | Dec. 31, 2027 | Dec. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 27,953 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 27,513 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 27,184 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Checkmate Finance Merger Sub, LLC Industry Entertainment Reference Rate and Spread S + 6.50% Maturity 12/31/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 31, 2027 | Dec. 31, 2027 | Dec. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,831 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (43) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (78) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Chronicle Bidco Inc. (dba Lexitas) Industry Professional Services Interest Rate 11.61% Reference Rate and Spread S + 6.75% Maturity 05/18/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.61% | 11.61% | 11.61% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | May 18, 2029 | May 18, 2029 | May 18, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 42,552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 41,629 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 41,382 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Chronicle Bidco Inc. (dba Lexitas) Industry Professional Services Interest Rate 11.61% Reference Rate and Spread S + 6.75% Maturity 05/18/29 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.76% | 11.76% | 11.76% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | May 18, 2029 | May 18, 2029 | May 18, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,676 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 929 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 891 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CivicPlus LLC Industry Software Interest Rate 11.15% Reference Rate and Spread L + 6.25% Maturity 08/24/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.15% | 11.15% | 11.15% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 24, 2027 | Aug. 24, 2027 | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,112 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 182 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CivicPlus LLC Industry Software Interest Rate 12.23% Reference Rate and Spread L + 6.50% (incl. 2.50% PIK) Maturity 08/24/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.23% | 12.23% | 12.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 24, 2027 | Aug. 24, 2027 | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 5,851 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 5,755 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 5,719 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CivicPlus LLC Industry Software Interest Rate 12.23% Reference Rate and Spread L + 6.50% (incl. 2.50% PIK) Maturity 08/24/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.23% | 12.23% | 12.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 24, 2027 | Aug. 24, 2027 | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 5,797 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 5,701 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 5,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CivicPlus LLC Industry Software Interest Rate 12.23% Reference Rate and Spread L + 6.50% (incl. 2.50% PIK) Maturity 08/24/27 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.23% | 12.23% | 12.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 24, 2027 | Aug. 24, 2027 | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,678 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,664 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Clearcourse Partnership Acquireco Finance Limited Industry IT Services Interest Rate 11.68% Reference Rate and Spread SN + 7.50% Maturity 07/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21],[22] | 11.68% | 11.68% | 11.68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21],[22] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4],[22] | Jul. 25, 2028 | Jul. 25, 2028 | Jul. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19],[22] | £ 4,842 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4],[22] | $ 2,705 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4],[22] | $ 2,843 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Clearcourse Partnership Acquireco Finance Limited Industry IT Services Interest Rate 12.43% Reference Rate and Spread SN + 8.25% (incl. 0.75% PIK) Maturity 07/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 12.43% | 12.43% | 12.43% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[4],[21] | 0.75% | 0.75% | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Jul. 25, 2028 | Jul. 25, 2028 | Jul. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19] | £ 5,574 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | $ 6,576 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 6,884 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CloudBees, Inc. Industry Software Interest Rate 12.22% Reference Rate and Spread S + 7.00% (incl. 2.50% PIK) Maturity 11/24/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.22% | 12.22% | 12.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 24, 2026 | Nov. 24, 2026 | Nov. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 26,219 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 25,049 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 25,826 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CloudBees, Inc. Industry Software Interest Rate 12.22% Reference Rate and Spread S + 7.00% (incl. 2.50% PIK) Maturity 11/24/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 12.22% | 12.22% | 12.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Nov. 24, 2026 | Nov. 24, 2026 | Nov. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 11,867 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 10,654 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 11,025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Coding Solutions Acquisition, Inc. Industry Health Care Providers & Services Interest Rate 10.58% Reference Rate and Spread S + 5.50% Maturity 05/11/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.58% | 10.58% | 10.58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | May 11, 2028 | May 11, 2028 | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 4,076 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 388 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 324 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Coding Solutions Acquisition, Inc. Industry Health Care Providers & Services Interest Rate 10.60% Reference Rate and Spread S + 5.50% Maturity 05/11/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.60% | 10.60% | 10.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | May 11, 2028 | May 11, 2028 | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 13,488 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 13,255 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 13,151 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Coding Solutions Acquisition, Inc. Industry Health Care Providers & Services Interest Rate 10.60% Reference Rate and Spread S + 5.50% Maturity 05/11/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.60% | 10.60% | 10.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | May 11, 2028 | May 11, 2028 | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,938 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 358 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CorePower Yoga LLC Industry Diversified Consumer Services Interest Rate 12.54% Reference Rate and Spread L + 7.00% (incl. 5.00% PIK) Maturity 05/14/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.54% | 12.54% | 12.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | May 14, 2025 | May 14, 2025 | May 14, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 10,114 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 10,058 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,496 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% CorePower Yoga LLC Industry Diversified Consumer Services Reference Rate and Spread L + 7.00% (incl. 5.00% PIK) Maturity 05/14/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | May 14, 2025 | May 14, 2025 | May 14, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 633 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (101) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% DECA Dental Holdings LLC Industry Health Care Providers & Services Interest Rate 11.09% Reference Rate and Spread S + 5.75% Maturity 08/26/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 26, 2027 | Aug. 26, 2027 | Aug. 26, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,386 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% DECA Dental Holdings LLC Industry Health Care Providers & Services Interest Rate 11.09% Reference Rate and Spread S + 5.75% Maturity 08/28/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 28, 2028 | Aug. 28, 2028 | Aug. 28, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 19,314 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 19,013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 18,542 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% DECA Dental Holdings LLC Industry Health Care Providers & Services Interest Rate 11.09% Reference Rate and Spread S + 5.75% Maturity 08/28/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 28, 2028 | Aug. 28, 2028 | Aug. 28, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 6,689 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,967 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,766 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Diligent Corporation Industry Professional Services Interest Rate 10.95% Reference Rate and Spread L + 5.75% Maturity 08/04/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 04, 2025 | Aug. 04, 2025 | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 12,708 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 12,641 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 12,549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Diligent Corporation Industry Professional Services Interest Rate 10.95% Reference Rate and Spread L + 5.75% Maturity 08/04/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 04, 2025 | Aug. 04, 2025 | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 8,631 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 8,587 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Diligent Corporation Industry Professional Services Interest Rate 11.45% Reference Rate and Spread L + 6.25% Maturity 08/04/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.45% | 11.45% | 11.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 04, 2025 | Aug. 04, 2025 | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 1,715 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 1,696 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 1,711 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Diligent Corporation Industry Professional Services Interest Rate 11.45% Reference Rate and Spread L + 6.25% Maturity 08/04/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.45% | 11.45% | 11.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 04, 2025 | Aug. 04, 2025 | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 1,081 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 1,069 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 1,079 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Diligent Corporation Industry Professional Services Interest Rate 11.45% Reference Rate and Spread S + 6.25% Maturity 08/04/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.45% | 11.45% | 11.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 04, 2025 | Aug. 04, 2025 | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 20,502 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 20,268 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 20,451 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Diligent Corporation Industry Professional Services Interest Rate 11.48% Reference Rate and Spread S + 6.25% Maturity 08/04/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.48% | 11.48% | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 04, 2025 | Aug. 04, 2025 | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,503 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,654 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,673 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Elemica Parent, Inc. Industry Chemicals Interest Rate 10.82% Reference Rate and Spread S + 5.50% Maturity 09/18/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.82% | 10.82% | 10.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 18, 2025 | Sep. 18, 2025 | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 470 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 465 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 451 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Elemica Parent, Inc. Industry Chemicals Interest Rate 11.00% Reference Rate and Spread S + 5.50% Maturity 09/18/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.00% | 11.00% | 11.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 18, 2025 | Sep. 18, 2025 | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 1,365 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 1,343 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 1,310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Elemica Parent, Inc. Industry Chemicals Interest Rate 11.54% Reference Rate and Spread S + 6.00% Maturity 09/18/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.54% | 11.54% | 11.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 18, 2025 | Sep. 18, 2025 | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 3,493 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 3,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 3,353 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Elemica Parent, Inc. Industry Chemicals Interest Rate 11.54% Reference Rate and Spread S + 6.00% Maturity 09/18/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.54% | 11.54% | 11.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 18, 2025 | Sep. 18, 2025 | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 683 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 675 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 655 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Elemica Parent, Inc. Industry Chemicals Interest Rate 11.54% Reference Rate and Spread S + 6.00% Maturity 09/18/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.54% | 11.54% | 11.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Sep. 18, 2025 | Sep. 18, 2025 | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 510 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 502 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 490 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 06, 2025 | Dec. 06, 2025 | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 6,205 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 6,163 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 6,004 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 12/06/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 06, 2025 | Dec. 06, 2025 | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,940 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,905 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,845 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 12/06/25 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 06, 2025 | Dec. 06, 2025 | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,675 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,655 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,588 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 12/06/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 06, 2025 | Dec. 06, 2025 | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,919 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,890 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,825 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 10.71% Reference Rate and Spread S + 5.50% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.71% | 10.71% | 10.71% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 06, 2025 | Dec. 06, 2025 | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,365 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,219 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,184 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 11.37% Reference Rate and Spread S + 6.00% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.37% | 11.37% | 11.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 06, 2025 | Dec. 06, 2025 | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 8,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 8,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,357 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Experity, Inc. Industry Health Care Technology Interest Rate 11.09% Reference Rate and Spread S + 5.75% Maturity 02/24/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Feb. 24, 2028 | Feb. 24, 2028 | Feb. 24, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 33,748 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 33,629 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 32,567 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Experity, Inc. Industry Health Care Technology Interest Rate 11.09% Reference Rate and Spread S + 5.75% Maturity 02/24/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Feb. 24, 2028 | Feb. 24, 2028 | Feb. 24, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 680 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 585 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Experity, Inc. Industry Health Care Technology Interest Rate 11.09% Reference Rate and Spread S+5.75% Maturity 02/24/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Interest Rate 13.00% Reference Rate and Spread L + 7.50% (incl. 3.00% PIK) Maturity 10/04/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.00% | 13.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 04, 2027 | Oct. 04, 2027 | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 56,214 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 55,097 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 54,809 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Interest Rate 13.00% Reference Rate and Spread L + 7.50% (incl. 3.00% PIK) Maturity 10/04/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.00% | 13.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 04, 2027 | Oct. 04, 2027 | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 21,754 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 21,288 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 21,210 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Interest Rate 13.00% Reference Rate and Spread L + 7.50% (incl. 3.00% PIK) Maturity 10/04/27 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 13.00% | 13.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [2],[3],[21],[22] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Oct. 04, 2027 | Oct. 04, 2027 | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 766 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 230 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 229 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Interest Rate 13.00% Reference Rate and Spread L + 7.50% (incl. 3.00% PIK) Maturity 10/04/27 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 13.00% | 13.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Oct. 04, 2027 | Oct. 04, 2027 | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,067 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 993 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 8.25% Maturity 05/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[21],[22] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[22] | May 01, 2028 | May 01, 2028 | May 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[19],[22] | $ 1,478 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 8.25% Maturity 05/01/30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[21],[22] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[22] | May 01, 2030 | May 01, 2030 | May 01, 2030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[19],[22] | $ 26,415 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 8.25% Maturity 05/01/30 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[21],[22] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[22] | May 01, 2030 | May 01, 2030 | May 01, 2030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[19],[22] | $ 8,313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 8.25% Maturity 05/01/30 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[21],[22] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[22] | May 01, 2030 | May 01, 2030 | May 01, 2030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[19],[22] | $ 3,694 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Interest Rate 13.64% Reference Rate and Spread S + 8.25% (incl. 3.75% PIK) Maturity 06/24/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.64% | 13.64% | 13.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.75% | 3.75% | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 24, 2026 | Jun. 24, 2026 | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 14,038 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 13,878 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 13,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Interest Rate 13.64% Reference Rate and Spread S + 8.25% (incl. 3.75% PIK) Maturity 06/24/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.64% | 13.64% | 13.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.75% | 3.75% | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 24, 2026 | Jun. 24, 2026 | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,456 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,433 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Interest Rate 13.64% Reference Rate and Spread S + 8.25% (incl. 3.75% PIK) Maturity 06/24/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.64% | 13.64% | 13.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.75% | 3.75% | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 24, 2026 | Jun. 24, 2026 | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 906 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 872 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Reference Rate and Spread S + 8.25% (incl. 3.75% PIK) Maturity 06/24/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [2],[3],[21],[22] | 3.75% | 3.75% | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jun. 24, 2026 | Jun. 24, 2026 | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 1,749 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (87) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GS AcquisitionCo, Inc. (dba Insightsoftware) Industry Diversified Financial Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 05/22/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | May 22, 2026 | May 22, 2026 | May 22, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 22,738 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 22,558 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 22,055 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GS AcquisitionCo, Inc. (dba Insightsoftware) Industry Diversified Financial Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 05/22/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21],[22] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[22] | May 22, 2026 | May 22, 2026 | May 22, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19],[22] | $ 914 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[22] | 296 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[22] | $ 277 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Gainsight, Inc. Industry Software Interest Rate 11.58% Reference Rate and Spread S + 6.75% PIK Maturity 07/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.58% | 11.58% | 11.58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 30, 2027 | Jul. 30, 2027 | Jul. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 42,920 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 42,442 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 41,847 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Gainsight, Inc. Industry Software Interest Rate 11.94% Reference Rate and Spread S + 6.75% PIK Maturity 07/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.94% | 11.94% | 11.94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 30, 2027 | Jul. 30, 2027 | Jul. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 4,830 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 3,392 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 3,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GovDelivery Holdings, LLC (dba Granicus, Inc.) Industry Software Interest Rate 11.15% Reference Rate and Spread S + 6.00% Maturity 01/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 11.15% | 11.15% | 11.15% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | Jan. 29, 2027 | Jan. 29, 2027 | Jan. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 3,425 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 3,377 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 3,408 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GovDelivery Holdings, LLC (dba Granicus, Inc.) Industry Software Interest Rate 11.55% Reference Rate and Spread S + 6.50% Maturity 01/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[21],[22] | 11.55% | 11.55% | 11.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[22] | Jan. 29, 2027 | Jan. 29, 2027 | Jan. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[19],[22] | $ 2,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[22] | 703 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[22] | $ 713 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% GovDelivery Holdings, LLC (dba Granicus, Inc.) Industry Software Interest Rate 12.15% Reference Rate and Spread S + 7.00% (incl. 1.50% PIK) Maturity 01/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 12.15% | 12.15% | 12.15% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[21] | 1.50% | 1.50% | 1.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | Jan. 29, 2027 | Jan. 29, 2027 | Jan. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 26,336 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 25,908 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 26,204 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Governmentjobs.com, Inc. (dba NeoGov) Industry Software Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 12/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 01, 2028 | Dec. 01, 2028 | Dec. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 37,717 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 37,641 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 37,057 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Governmentjobs.com, Inc. (dba NeoGov) Industry Software Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 12/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Dec. 02, 2027 | Dec. 02, 2027 | Dec. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 4,244 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 1,584 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 1,517 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Governmentjobs.com, Inc. (dba NeoGov) Industry Software Reference Rate and Spread S + 5.50% Maturity 12/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Dec. 01, 2028 | Dec. 01, 2028 | Dec. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 13,262 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (232) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) Industry Hotels, Restaurants & Leisure Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 07/09/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 09, 2025 | Jul. 09, 2025 | Jul. 09, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 26,350 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 26,139 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 25,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) Industry Hotels, Restaurants & Leisure Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 07/09/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 09, 2025 | Jul. 09, 2025 | Jul. 09, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 5,466 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 5,403 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 5,302 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) Industry Hotels, Restaurants & Leisure Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 07/09/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 09, 2025 | Jul. 09, 2025 | Jul. 09, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,482 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,432 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HealthEdge Software, Inc. Industry Health Care Technology Interest Rate 11.41% Reference Rate and Spread L + 7.00% Maturity 04/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.41% | 11.41% | 11.41% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Apr. 09, 2026 | Apr. 09, 2026 | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 32,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 31,565 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 31,360 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HealthEdge Software, Inc. Industry Health Care Technology Interest Rate 11.41% Reference Rate and Spread L + 7.00% Maturity 04/09/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.41% | 11.41% | 11.41% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Apr. 09, 2026 | Apr. 09, 2026 | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,905 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HealthEdge Software, Inc. Industry Health Care Technology Reference Rate and Spread L + 7.00% Maturity 04/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Apr. 09, 2026 | Apr. 09, 2026 | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 8,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (55) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (170) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HealthEdge Software, Inc. Industry Health Care Technology Reference Rate and Spread P + 6.00% Maturity 04/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Apr. 09, 2026 | Apr. 09, 2026 | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (44) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (68) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 10.96% Reference Rate and Spread L + 5.75% Maturity 12/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.96% | 10.96% | 10.96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 15, 2026 | Dec. 15, 2026 | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 18,542 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 14,526 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 14,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 11.10% Reference Rate and Spread S + 6.00% Maturity 12/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.10% | 11.10% | 11.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 15, 2026 | Dec. 15, 2026 | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 17,468 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 17,272 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 17,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 11.10% Reference Rate and Spread S + 6.00% Maturity 12/15/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.10% | 11.10% | 11.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 15, 2026 | Dec. 15, 2026 | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 7,242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 7,143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 7,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 11.27% Reference Rate and Spread S + 6.00% Maturity 12/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.27% | 11.27% | 11.27% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 15, 2026 | Dec. 15, 2026 | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 13,403 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 13,309 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 13,236 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Reference Rate and Spread S + 6.00% Maturity 12/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Dec. 15, 2026 | Dec. 15, 2026 | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 2,199 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (26) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (27) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Honor HN Buyer, Inc Industry Health Care Providers & Services Interest Rate 11.04% Reference Rate and Spread S + 5.75% Maturity 10/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21] | 11.04% | 11.04% | 11.04% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3] | Oct. 15, 2027 | Oct. 15, 2027 | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19] | $ 13,781 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3] | 13,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3] | $ 13,505 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Honor HN Buyer, Inc Industry Health Care Providers & Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 10/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 15, 2027 | Oct. 15, 2027 | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 21,765 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 21,435 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 21,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Honor HN Buyer, Inc Industry Health Care Providers & Services Interest Rate 11.29% Reference Rate and Spread S + 6.00% Maturity 10/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 11.29% | 11.29% | 11.29% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Oct. 15, 2027 | Oct. 15, 2027 | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 19,535 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 7,887 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 7,739 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Honor HN Buyer, Inc Industry Health Care Providers & Services Interest Rate 13.00% Reference Rate and Spread P + 4.75% Maturity 10/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 13.00% | 13.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 4.75% | 4.75% | 4.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Oct. 15, 2027 | Oct. 15, 2027 | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 2,542 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 281 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 267 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HowlCO LLC (dba Lone Wolf) Industry Real Estate Mgmt. & Development Interest Rate 11.23% Reference Rate and Spread S + 6.00% Maturity 10/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.23% | 11.23% | 11.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Oct. 23, 2026 | Oct. 23, 2026 | Oct. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 31,926 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 31,590 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 30,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HowlCO LLC (dba Lone Wolf) Industry Real Estate Mgmt. & Development Interest Rate 11.32% Reference Rate and Spread S + 6.50% Maturity 10/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.32% | 11.32% | 11.32% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Oct. 23, 2026 | Oct. 23, 2026 | Oct. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 10,237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 10,167 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 9,725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HowlCO LLC (dba Lone Wolf) Industry Real Estate Mgmt. & Development Interest Rate 11.39% Reference Rate and Spread S + 6.50% Maturity 10/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.39% | 11.39% | 11.39% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Oct. 23, 2026 | Oct. 23, 2026 | Oct. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 9,793 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 9,737 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 9,303 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HumanState Limited (dba PayProp) Industry Diversified Consumer Services Interest Rate 10.58% Reference Rate and Spread SN + 6.00% Maturity 11/23/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 10.58% | 10.58% | 10.58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Nov. 23, 2028 | Nov. 23, 2028 | Nov. 23, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19] | £ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | $ 1,190 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 1,251 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HumanState Limited (dba PayProp) Industry Diversified Consumer Services Reference Rate and Spread SN + 6.00% Maturity 11/23/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4],[22] | Nov. 23, 2028 | Nov. 23, 2028 | Nov. 23, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19],[22] | £ 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4],[22] | $ (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% HumanState Limited (dba PayProp) Industry Diversified Consumer Services Reference Rate and Spread SN + 6.00% Maturity 11/23/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4],[22] | Nov. 23, 2028 | Nov. 23, 2028 | Nov. 23, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | £ | [1],[2],[3],[4],[19],[22] | £ 270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4],[22] | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4],[22] | $ (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Intelligent Medical Objects, Inc. Industry Health Care Technology Interest Rate 11.04% Reference Rate and Spread S + 6.00% Maturity 05/11/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.04% | 11.04% | 11.04% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | May 11, 2029 | May 11, 2029 | May 11, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,688 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 695 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 671 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Intelligent Medical Objects, Inc. Industry Health Care Technology Interest Rate 11.09% Reference Rate and Spread S + 6.00% Maturity 05/11/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | May 11, 2029 | May 11, 2029 | May 11, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 11,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 11,132 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 11,103 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Intelligent Medical Objects, Inc. Industry Health Care Technology Reference Rate and Spread S + 6.00% Maturity 05/11/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | May 11, 2028 | May 11, 2028 | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,396 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (24) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (28) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Internet Truckstop Group, LLC (dba Truckstop) Industry Transportation Infrastructure Interest Rate 10.89% Reference Rate and Spread S + 5.50% Maturity 04/02/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.89% | 10.89% | 10.89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Apr. 02, 2025 | Apr. 02, 2025 | Apr. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 37,599 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 37,157 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 37,223 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Kaseya Inc. Industry IT Services Interest Rate 11.36% Reference Rate and Spread S + 5.75% (incl. 2.50% PIK) Maturity 06/25/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.36% | 11.36% | 11.36% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 25, 2029 | Jun. 25, 2029 | Jun. 25, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 16,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 16,675 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 16,646 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Kaseya Inc. Industry IT Services Interest Rate 11.36% Reference Rate and Spread S + 6.25% (incl. 2.50% PIK) Maturity 06/25/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.36% | 11.36% | 11.36% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jun. 25, 2029 | Jun. 25, 2029 | Jun. 25, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 240 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Kaseya Inc. Industry IT Services Interest Rate 11.36% Reference Rate and Spread S + 6.25% (incl. 2.50% PIK) Maturity 06/25/29 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.36% | 11.36% | 11.36% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jun. 25, 2029 | Jun. 25, 2029 | Jun. 25, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% LS Clinical Services Holdings, Inc (dba CATO) Industry Pharmaceuticals Interest Rate 12.14% Reference Rate and Spread S + 6.75% Maturity 12/16/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.14% | 12.14% | 12.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 16, 2026 | Dec. 16, 2026 | Dec. 16, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 1,995 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 1,960 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 1,941 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% LS Clinical Services Holdings, Inc (dba CATO) Industry Pharmaceuticals Interest Rate 12.28% Reference Rate and Spread S + 6.75% Maturity 12/16/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.28% | 12.28% | 12.28% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 16, 2027 | Dec. 16, 2027 | Dec. 16, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 13,758 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 13,490 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 13,380 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MRI Software LLC Industry Real Estate Mgmt. & Development Interest Rate 10.84% Reference Rate and Spread S + 5.50% Maturity 02/10/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[21] | 10.84% | 10.84% | 10.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1] | Feb. 10, 2026 | Feb. 10, 2026 | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[19] | $ 29,270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1] | 28,985 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1] | $ 28,245 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MRI Software LLC Industry Real Estate Mgmt. & Development Interest Rate 10.84% Reference Rate and Spread S + 5.50% Maturity 02/10/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[21] | 10.84% | 10.84% | 10.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1] | Feb. 10, 2026 | Feb. 10, 2026 | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[19] | $ 16,375 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1] | 16,294 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1] | $ 15,802 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MRI Software LLC Industry Real Estate Mgmt. & Development Reference Rate and Spread S + 5.50% Maturity 02/10/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[22] | Feb. 10, 2026 | Feb. 10, 2026 | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[19],[22] | $ 1,143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[22] | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[22] | $ (40) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MRI Software LLC Industry Real Estate Mgmt. & Development Reference Rate and Spread S + 5.50% Maturity 02/10/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[22] | Feb. 10, 2026 | Feb. 10, 2026 | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[19],[22] | $ 1,284 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[22] | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[22] | $ (45) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MedeAnalytics, Inc. Industry Health Care Technology Reference Rate and Spread 3.00% PIK Maturity 10/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[20],[21],[23] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[20],[23] | Oct. 09, 2026 | Oct. 09, 2026 | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[20],[23] | $ 9,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[20],[23] | 6,075 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[20],[23] | $ 6,075 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MerchantWise Solutions, LLC (dba HungerRush) Industry Diversified Financial Services Interest Rate 11.24% Reference Rate and Spread S + 6.00% Maturity 06/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.24% | 11.24% | 11.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 01, 2028 | Jun. 01, 2028 | Jun. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 19,680 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 19,346 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 18,696 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MerchantWise Solutions, LLC (dba HungerRush) Industry Diversified Financial Services Interest Rate 11.24% Reference Rate and Spread S + 6.00% Maturity 06/01/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.24% | 11.24% | 11.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jun. 01, 2028 | Jun. 01, 2028 | Jun. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 4,952 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 3,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 3,060 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% MerchantWise Solutions, LLC (dba HungerRush) Industry Diversified Financial Services Reference Rate and Spread S + 6.00% Maturity 06/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jun. 01, 2028 | Jun. 01, 2028 | Jun. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 2,485 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (41) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (124) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Millstone Medical Outsourcing, LLC Industry Health Care Providers & Services Interest Rate 11.34% Reference Rate and Spread S + 5.75% Maturity 12/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.34% | 11.34% | 11.34% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 15, 2027 | Dec. 15, 2027 | Dec. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 9,185 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 9,041 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 9,001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Millstone Medical Outsourcing, LLC Industry Health Care Providers & Services Interest Rate 13.25% Reference Rate and Spread p + 5.00% Maturity 12/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 13.25% | 13.25% | 13.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 15, 2027 | Dec. 15, 2027 | Dec. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,998 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 236 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 226 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% NFM & J, L.P. (dba the Facilities Group) Industry Professional Services Interest Rate 10.95% Reference Rate and Spread S + 5.75% Maturity 11/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.95% | 10.95% | 10.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 30, 2027 | Nov. 30, 2027 | Nov. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 15,313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 15,085 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 14,854 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% NFM & J, L.P. (dba the Facilities Group) Industry Professional Services Interest Rate 11.11% Reference Rate and Spread S + 5.75% Maturity 11/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.11% | 11.11% | 11.11% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Nov. 30, 2027 | Nov. 30, 2027 | Nov. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 15,558 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 13,894 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 13,662 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% NFM & J, L.P. (dba the Facilities Group) Industry Professional Services Reference Rate and Spread S + 5.75% Maturity 11/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 4.75% | 4.75% | 4.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Nov. 30, 2027 | Nov. 30, 2027 | Nov. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,696 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (40) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (81) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% One GI LLC Industry Health Care Providers & Services Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 12/22/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 22, 2025 | Dec. 22, 2025 | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 20,871 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 20,640 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 19,619 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% One GI LLC Industry Health Care Providers & Services Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 12/22/25 Four | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 22, 2025 | Dec. 22, 2025 | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 3,246 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 3,212 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 3,052 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% One GI LLC Industry Health Care Providers & Services Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 12/22/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 22, 2025 | Dec. 22, 2025 | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 10,255 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 10,121 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 9,640 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% One GI LLC Industry Health Care Providers & Services Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 12/22/25 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 22, 2025 | Dec. 22, 2025 | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 5,665 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 5,544 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 5,287 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% One GI LLC Industry Health Care Providers & Services Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 12/22/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 22, 2025 | Dec. 22, 2025 | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 8,678 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 8,583 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,157 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PDDS Holdco, Inc. (dba Planet DDS) Industry Health Care Technology Interest Rate 12.93% Reference Rate and Spread S + 7.50% Maturity 07/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.93% | 12.93% | 12.93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,479 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PDDS Holdco, Inc. (dba Planet DDS) Industry Health Care Technology Interest Rate 13.09% Reference Rate and Spread S + 7.50% Maturity 07/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.09% | 13.09% | 13.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 22,055 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 21,668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 21,614 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PDDS Holdco, Inc. (dba Planet DDS) Industry Health Care Technology Interest Rate 13.09% Reference Rate and Spread S + 7.50% Maturity 07/18/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.09% | 13.09% | 13.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,145 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,102 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PDDS Holdco, Inc. (dba Planet DDS) Industry Health Care Technology Interest Rate 13.09% Reference Rate and Spread S + 7.50% Maturity 07/18/28 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 13.09% | 13.09% | 13.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 8,765 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 544 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 435 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PDDS Holdco, Inc. (dba Planet DDS) Industry Health Care Technology Reference Rate and Spread S + 7.50% Maturity 07/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 1,705 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | (29) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ (21) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PDDS Holdco, Inc. (dba Planet DDS) Industry Health Care Technology Reference Rate and Spread S + 7.50% Maturity 07/18/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | (21) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ (32) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PT Intermediate Holdings III, LLC (dba Parts Town) Industry Trading Companies & Distributors Interest Rate 11.37% Reference Rate and Spread S+ 5.98% Maturity 11/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 11.37% | 11.37% | 11.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 5.98% | 5.98% | 5.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 20,439 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 20,274 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 19,723 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PT Intermediate Holdings III, LLC (dba Parts Town) Industry Trading Companies & Distributors Interest Rate 11.37% Reference Rate and Spread S+ 5.98% Maturity 11/01/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 11.37% | 11.37% | 11.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 5.98% | 5.98% | 5.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 1,817 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 1,802 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 1,753 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PT Intermediate Holdings III, LLC (dba Parts Town) Industry Trading Companies & Distributors Interest Rate 11.37% Reference Rate and Spread S+ 5.98% Maturity 11/01/28 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 11.37% | 11.37% | 11.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 5.98% | 5.98% | 5.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 1,255 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 1,245 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 1,211 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% PT Intermediate Holdings III, LLC (dba Parts Town) Industry Trading Companies & Distributors Interest Rate 11.37% Reference Rate and Spread S+ 5.98% Maturity 11/01/28 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 11.37% | 11.37% | 11.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 5.98% | 5.98% | 5.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 1,753 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 1,739 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 1,692 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Picture Head Midco LLC Industry Entertainment Interest Rate 12.06% Reference Rate and Spread S + 6.75% Maturity 08/31/23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.06% | 12.06% | 12.06% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 31, 2023 | Aug. 31, 2023 | Aug. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 19,422 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 19,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 19,033 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Pioneer Buyer I, LLC Industry Software Interest Rate 12.24% Reference Rate and Spread S + 7.00% PIK Maturity 11/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.24% | 12.24% | 12.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 25,253 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 24,908 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 24,748 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Pioneer Buyer I, LLC Industry Software Reference Rate and Spread S + 7.00% PIK Maturity 11/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Nov. 01, 2027 | Nov. 01, 2027 | Nov. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (57) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (78) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Pluralsight, Inc Industry Professional Services Interest Rate 13.04% Reference Rate and Spread S + 8.00% Maturity 04/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.04% | 13.04% | 13.04% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Apr. 06, 2027 | Apr. 06, 2027 | Apr. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 68,747 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 67,791 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 67,200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Pluralsight, Inc Industry Professional Services Interest Rate 13.04% Reference Rate and Spread S + 8.00% Maturity 04/06/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 13.04% | 13.04% | 13.04% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Apr. 06, 2027 | Apr. 06, 2027 | Apr. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 4,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 2,241 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 2,196 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Premier Care Dental Management, LLC Industry Health Care Providers & Services Interest Rate 10.60% Reference Rate and Spread S + 5.50% Maturity 08/05/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.60% | 10.60% | 10.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 05, 2028 | Aug. 05, 2028 | Aug. 05, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 16,820 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 16,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 15,769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Premier Care Dental Management, LLC Industry Health Care Providers & Services Interest Rate 10.60% Reference Rate and Spread S + 5.50% Maturity 08/05/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.60% | 10.60% | 10.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 05, 2028 | Aug. 05, 2028 | Aug. 05, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 9,126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 9,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,555 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Premier Care Dental Management, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 5.50% Maturity 08/05/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 05, 2027 | Aug. 05, 2027 | Aug. 05, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (38) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (173) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Premier Imaging, LLC (dba Lucid Health) Industry Health Care Providers & Services Interest Rate 11.22% Reference Rate and Spread S + 6.00% Maturity 01/02/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.22% | 11.22% | 11.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 02, 2025 | Jan. 02, 2025 | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 16,404 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 16,301 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 15,994 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Premier Imaging, LLC (dba Lucid Health) Industry Health Care Providers & Services Interest Rate 11.22% Reference Rate and Spread S + 6.00% Maturity 01/02/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.22% | 11.22% | 11.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 02, 2025 | Jan. 02, 2025 | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 10,776 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 10,692 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 10,507 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Premier Imaging, LLC (dba Lucid Health) Industry Health Care Providers & Services Interest Rate 11.22% Reference Rate and Spread S + 6.00% Maturity 01/02/25 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.22% | 11.22% | 11.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jan. 02, 2025 | Jan. 02, 2025 | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 10,227 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 2,843 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 2,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Premier Imaging, LLC (dba Lucid Health) Industry Health Care Providers & Services Interest Rate 11.22% Reference Rate and Spread S + 6.00% Maturity 01/02/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.22% | 11.22% | 11.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 02, 2025 | Jan. 02, 2025 | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 4,563 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 4,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 4,449 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Project Eagle Holdings, LLC (dba Exostar) Industry Aerospace & Defense Interest Rate 11.22% Reference Rate and Spread S + 6.00% Maturity 07/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.22% | 11.22% | 11.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 06, 2026 | Jul. 06, 2026 | Jul. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 39,779 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 39,209 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 39,182 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Project Eagle Holdings, LLC (dba Exostar) Industry Aerospace & Defense Reference Rate and Spread L+ 6.25% Maturity 07/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Project Eagle Holdings, LLC (dba Exostar) Industry Aerospace & Defense Reference Rate and Spread S + 6.25% Maturity 07/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 06, 2026 | Jul. 06, 2026 | Jul. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 3,418 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | (44) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ (51) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Prophix Software Inc. (dba Pound Bidco) Industry Diversified Financial Services Interest Rate 11.66% Reference Rate and Spread L + 6.50% Maturity 01/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.66% | 11.66% | 11.66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Jan. 30, 2026 | Jan. 30, 2026 | Jan. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 17,147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 16,953 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 16,975 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Prophix Software Inc. (dba Pound Bidco) Industry Diversified Financial Services Interest Rate 11.66% Reference Rate and Spread L + 6.50% Maturity 01/30/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.66% | 11.66% | 11.66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Jan. 30, 2026 | Jan. 30, 2026 | Jan. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 7,015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 6,925 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 6,945 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Prophix Software Inc. (dba Pound Bidco) Industry Diversified Financial Services Reference Rate and Spread L + 6.50% Maturity 01/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | Jan. 30, 2026 | Jan. 30, 2026 | Jan. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 3,118 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | (33) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ (31) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Purfoods, LLC Industry Health Care Providers & Services Interest Rate 11.49% Reference Rate and Spread S+ 6.25% Maturity 08/12/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.49% | 11.49% | 11.49% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 12, 2026 | Aug. 12, 2026 | Aug. 12, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 23,924 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 23,614 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 23,385 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Purfoods, LLC Industry Health Care Providers & Services Interest Rate 11.55% Reference Rate and Spread S+ 6.25% Maturity 08/12/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.55% | 11.55% | 11.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 12, 2026 | Aug. 12, 2026 | Aug. 12, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 16,151 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 15,942 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 15,788 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Riverpoint Medical, LLC Industry Health Care Equipment & Supplies Interest Rate 10.11% Reference Rate and Spread S+ 5.00% Maturity 06/21/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.11% | 10.11% | 10.11% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 21, 2025 | Jun. 21, 2025 | Jun. 21, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 13,443 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 13,355 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 13,141 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Riverpoint Medical, LLC Industry Health Care Equipment & Supplies Interest Rate 10.11% Reference Rate and Spread S+ 5.00% Maturity 06/21/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.11% | 10.11% | 10.11% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 21, 2025 | Jun. 21, 2025 | Jun. 21, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 9,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 9,493 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 9,309 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Riverpoint Medical, LLC Industry Health Care Equipment & Supplies Interest Rate 10.19% Reference Rate and Spread S+ 5.00% Maturity 06/21/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.19% | 10.19% | 10.19% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jun. 21, 2025 | Jun. 21, 2025 | Jun. 21, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,806 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 178 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 140 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Rodeo Buyer Company (dba Absorb Software) Industry Professional Services Interest Rate 11.44% Reference Rate and Spread S+ 6.25% Maturity 05/25/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[4],[21] | 11.44% | 11.44% | 11.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[4],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[4] | May 25, 2027 | May 25, 2027 | May 25, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[4],[19] | $ 19,155 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[4] | 18,887 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[4] | $ 18,915 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Rodeo Buyer Company (dba Absorb Software) Industry Professional Services Interest Rate 11.44% Reference Rate and Spread S+ 6.25% Maturity 05/25/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[4],[21],[22] | 11.44% | 11.44% | 11.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[4],[21],[22] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[4],[22] | May 25, 2027 | May 25, 2027 | May 25, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[4],[19],[22] | $ 3,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[4],[22] | 1,185 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[4],[22] | $ 1,188 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Rubrik, Inc. Industry Software Interest Rate 12.35% Reference Rate and Spread S+ 7.00% Maturity 06/10/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 12.35% | 12.35% | 12.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jun. 10, 2027 | Jun. 10, 2027 | Jun. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,685 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 2,657 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 2,584 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Rubrik, Inc. Industry Software Interest Rate 12.64% Reference Rate and Spread S+ 7.00% Maturity 06/10/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.64% | 12.64% | 12.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 10, 2027 | Jun. 10, 2027 | Jun. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 32,242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 31,713 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 31,597 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Southeast Mechanical, LLC (dba. SEM Holdings, LLC) Industry Diversified Consumer Services Interest Rate 11.22% Reference Rate and Spread S+ 6.00% Maturity 07/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[20],[21] | 11.22% | 11.22% | 11.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[20] | Jul. 06, 2027 | Jul. 06, 2027 | Jul. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[20] | $ 9,801 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[20] | 9,637 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[20] | $ 9,629 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Southeast Mechanical, LLC (dba. SEM Holdings, LLC) Industry Diversified Consumer Services Interest Rate 11.25% Reference Rate and Spread S+ 6.00% Maturity 07/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[20],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Southeast Mechanical, LLC (dba. SEM Holdings, LLC) Industry Diversified Consumer Services Interest Rate 13.25% Reference Rate and Spread S+ 6.00% Maturity 07/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[20],[21],[22] | 13.25% | 13.25% | 13.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[20],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[20],[22] | Jul. 06, 2027 | Jul. 06, 2027 | Jul. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[20],[22] | $ 6,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[20],[22] | 1,292 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[20],[22] | $ 1,241 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Southeast Mechanical, LLC (dba. SEM Holdings, LLC) Industry Diversified Consumer Services Reference Rate and Spread S+ 6.00% Maturity 07/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[20],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[20],[22] | Jul. 06, 2027 | Jul. 06, 2027 | Jul. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[20],[22] | $ 1,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[20],[22] | (27) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[20],[22] | $ (30) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% SpendMend, LLC Industry Health Care Providers & Services Interest Rate 10.86% Reference Rate and Spread S+ 5.75% Maturity 03/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.86% | 10.86% | 10.86% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Mar. 01, 2028 | Mar. 01, 2028 | Mar. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 12,151 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 11,978 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 11,847 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% SpendMend, LLC Industry Health Care Providers & Services Interest Rate 10.87% Reference Rate and Spread S+ 5.75% Maturity 03/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.87% | 10.87% | 10.87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Mar. 01, 2028 | Mar. 01, 2028 | Mar. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 5,328 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 2,200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 2,121 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% SpendMend, LLC Industry Health Care Providers & Services Interest Rate 11.14% Reference Rate and Spread S+ 5.75% Maturity 03/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Mar. 01, 2028 | Mar. 01, 2028 | Mar. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 1,605 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 619 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 602 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% StarCompliance Intermediate, LLC Industry Diversified Financial Services Interest Rate 11.95% Reference Rate and Spread S + 6.75% Maturity 01/12/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 11.95% | 11.95% | 11.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jan. 12, 2027 | Jan. 12, 2027 | Jan. 12, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 2,300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 632 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% StarCompliance Intermediate, LLC Industry Diversified Financial Services Interest Rate 12.09% Reference Rate and Spread S + 6.75% Maturity 01/12/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.09% | 12.09% | 12.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 12, 2027 | Jan. 12, 2027 | Jan. 12, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 14,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 14,214 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 14,184 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% StarCompliance Intermediate, LLC Industry Diversified Financial Services Interest Rate 12.09% Reference Rate and Spread S + 6.75% Maturity 01/12/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.09% | 12.09% | 12.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 12, 2027 | Jan. 12, 2027 | Jan. 12, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,319 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,286 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,285 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sundance Group Holdings, Inc. (dba NetDocuments) Industry Software Interest Rate 11.41% Reference Rate and Spread S + 6.25% Maturity 07/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.41% | 11.41% | 11.41% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 02, 2027 | Jul. 02, 2027 | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 37,327 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 36,911 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 36,580 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sundance Group Holdings, Inc. (dba NetDocuments) Industry Software Interest Rate 11.44% Reference Rate and Spread S + 6.25% Maturity 07/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.44% | 11.44% | 11.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 02, 2027 | Jul. 02, 2027 | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 11,198 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 11,039 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 10,974 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sundance Group Holdings, Inc. (dba NetDocuments) Industry Software Interest Rate 11.49% Reference Rate and Spread S + 6.25% Maturity 07/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.49% | 11.49% | 11.49% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 02, 2027 | Jul. 02, 2027 | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 4,479 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 998 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 956 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sundance Group Holdings, Inc. (dba NetDocuments) Industry Software Interest Rate 11.61% Reference Rate and Spread S + 6.25% Maturity 07/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[3],[21] | 11.61% | 11.61% | 11.61% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[3],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[3] | Jul. 02, 2027 | Jul. 02, 2027 | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[3],[19] | $ 3,239 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[3] | 3,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[3] | $ 3,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sunstar Insurance Group, LLC Industry Insurance Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 10/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 09, 2026 | Oct. 09, 2026 | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 11,951 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 11,796 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 11,712 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sunstar Insurance Group, LLC Industry Insurance Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 10/09/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 09, 2026 | Oct. 09, 2026 | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 7,567 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 7,471 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 7,415 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sunstar Insurance Group, LLC Industry Insurance Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 10/09/26 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 09, 2026 | Oct. 09, 2026 | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 330 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sunstar Insurance Group, LLC Industry Insurance Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 10/09/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 09, 2026 | Oct. 09, 2026 | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 18,117 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,937 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,861 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sunstar Insurance Group, LLC Industry Insurance Interest Rate 13.00% Reference Rate and Spread S + 5.75% Maturity 10/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.00% | 13.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Oct. 09, 2026 | Oct. 09, 2026 | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 3,503 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 1,122 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 1,098 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Superman Holdings, LLC (dba Foundation Software) Industry Construction & Engineering Interest Rate 10.99% Reference Rate and Spread S + 6.50% Maturity 08/31/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.99% | 10.99% | 10.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 31, 2027 | Aug. 31, 2027 | Aug. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 39,971 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 39,304 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 38,972 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Superman Holdings, LLC (dba Foundation Software) Industry Construction & Engineering Interest Rate 10.99% Reference Rate and Spread S + 6.50% Maturity 08/31/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.99% | 10.99% | 10.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 31, 2027 | Aug. 31, 2027 | Aug. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 4,037 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 3,940 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 3,937 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Superman Holdings, LLC (dba Foundation Software) Industry Construction & Engineering Reference Rate and Spread S + 6.50% Maturity 08/31/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 5,134 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (69) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (128) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Superman Holdings, LLC (dba Foundation Software) Industry Construction & Engineering Reference Rate and Spread S + 6.50% Maturity 08/31/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 31, 2027 | Aug. 31, 2027 | Aug. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 952 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (11) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (24) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sweep Purchaser LLC Industry Commercial Services & Supplies Interest Rate 11.02% Reference Rate and Spread S + 5.75% Maturity 11/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.02% | 11.02% | 11.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 30, 2026 | Nov. 30, 2026 | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 8,214 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 8,110 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sweep Purchaser LLC Industry Commercial Services & Supplies Interest Rate 11.02% Reference Rate and Spread S + 5.75% Maturity 11/30/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.02% | 11.02% | 11.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 30, 2026 | Nov. 30, 2026 | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 6,586 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 6,501 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 6,421 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sweep Purchaser LLC Industry Commercial Services & Supplies Interest Rate 11.02% Reference Rate and Spread S + 5.75% Maturity 11/30/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.02% | 11.02% | 11.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 30, 2026 | Nov. 30, 2026 | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 3,285 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 3,237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 3,203 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sweep Purchaser LLC Industry Commercial Services & Supplies Interest Rate 11.09% Reference Rate and Spread S + 5.75% Maturity 11/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 30, 2026 | Nov. 30, 2026 | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 25,873 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 25,552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 25,226 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Sweep Purchaser LLC Industry Commercial Services & Supplies Interest Rate 11.09% Reference Rate and Spread S + 5.75% Maturity 11/30/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 11.09% | 11.09% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Nov. 30, 2026 | Nov. 30, 2026 | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 4,201 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 3,059 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 3,004 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Syntellis Performance Solutions, LLC (dba Axiom) Industry Health Care Technology Interest Rate 11.60% Reference Rate and Spread S + 6.50% Maturity 08/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.60% | 11.60% | 11.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 02, 2027 | Aug. 02, 2027 | Aug. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 37,186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 36,450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 36,535 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Industry Health Care Providers & Services Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 15, 2025 | Aug. 15, 2025 | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 16,475 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 16,313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 16,187 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Industry Health Care Providers & Services Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 08/15/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 15, 2025 | Aug. 15, 2025 | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 3,883 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 3,842 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 3,815 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Industry Health Care Providers & Services Interest Rate 10.70% Reference Rate and Spread S + 5.50% Maturity 08/15/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 10.70% | 10.70% | 10.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 15, 2025 | Aug. 15, 2025 | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,361 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,867 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,847 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Industry Health Care Providers & Services Interest Rate 10.74% Reference Rate and Spread S + 5.50% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.74% | 10.74% | 10.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 15, 2025 | Aug. 15, 2025 | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 8,906 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 8,801 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Industry Health Care Providers & Services Interest Rate 10.77% Reference Rate and Spread S + 5.50% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.77% | 10.77% | 10.77% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 15, 2025 | Aug. 15, 2025 | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 7,128 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 7,036 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 7,003 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Industry Health Care Providers & Services Interest Rate 10.85% Reference Rate and Spread S + 5.50% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 10.85% | 10.85% | 10.85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Aug. 15, 2025 | Aug. 15, 2025 | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 3,941 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 1,195 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 1,157 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Thrasio, LLC Industry Internet & Direct Marketing Retail Interest Rate 12.50% Reference Rate and Spread S + 7.00% Maturity 12/18/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.50% | 12.50% | 12.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 18, 2026 | Dec. 18, 2026 | Dec. 18, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 36,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 35,647 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 32,458 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Total Vision LLC Industry Health Care Providers & Services Interest Rate 11.29% Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.29% | 11.29% | 11.29% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 15, 2026 | Jul. 15, 2026 | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,264 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,234 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,224 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Total Vision LLC Industry Health Care Providers & Services Interest Rate 11.33% Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.33% | 11.33% | 11.33% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 15, 2026 | Jul. 15, 2026 | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 15,444 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 15,213 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 15,174 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Total Vision LLC Industry Health Care Providers & Services Interest Rate 11.33% Reference Rate and Spread S + 6.00% Maturity 07/15/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.33% | 11.33% | 11.33% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 15, 2026 | Jul. 15, 2026 | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 4,529 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 4,471 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 4,450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Total Vision LLC Industry Health Care Providers & Services Interest Rate 11.35% Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.35% | 11.35% | 11.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 15, 2026 | Jul. 15, 2026 | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 9,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 2,747 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 2,673 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Total Vision LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jul. 15, 2026 | Jul. 15, 2026 | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 1,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (14) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (20) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% USN Opco LLC (dba Global Nephrology Solutions) Industry Health Care Providers & Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 12/21/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 21, 2026 | Dec. 21, 2026 | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 19,935 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 19,685 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 19,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% USN Opco LLC (dba Global Nephrology Solutions) Industry Health Care Providers & Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 12/21/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 21, 2026 | Dec. 21, 2026 | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 6,928 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 6,867 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 6,720 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% USN Opco LLC (dba Global Nephrology Solutions) Industry Health Care Providers & Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 12/21/26 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Dec. 21, 2026 | Dec. 21, 2026 | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 2,812 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 1,772 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 1,721 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% USN Opco LLC (dba Global Nephrology Solutions) Industry Health Care Providers & Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 12/21/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 21, 2026 | Dec. 21, 2026 | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 8,602 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 4,267 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 4,064 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% VRC Companies, LLC (dba Vital Records Control) Industry Commercial Services & Supplies Interest Rate 10.72% Reference Rate and Spread S + 5.50% Maturity 06/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.72% | 10.72% | 10.72% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 29, 2027 | Jun. 29, 2027 | Jun. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 29,481 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 29,168 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 28,597 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% VRC Companies, LLC (dba Vital Records Control) Industry Commercial Services & Supplies Reference Rate and Spread S + 5.50% Maturity 06/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jun. 29, 2027 | Jun. 29, 2027 | Jun. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 858 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (26) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Viant Medical Holdings, Inc. Industry Health Care Equipment & Supplies Interest Rate 11.44% Reference Rate and Spread L + 6.25% Maturity 07/02/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[21] | 11.44% | 11.44% | 11.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[21] | 6.25% | 6.25% | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2] | Jul. 02, 2025 | Jul. 02, 2025 | Jul. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[19] | $ 18,708 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2] | 18,579 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2] | $ 18,521 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Volt Bidco, Inc. (dba Power Factors) Industry Independent Power and Renewable Electricity Producers Interest Rate 12.24% Reference Rate and Spread S + 7.00% Maturity 08/11/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.24% | 12.24% | 12.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 11, 2027 | Aug. 11, 2027 | Aug. 11, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 31,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 31,131 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 31,064 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Volt Bidco, Inc. (dba Power Factors) Industry Independent Power and Renewable Electricity Producers Interest Rate 12.24% Reference Rate and Spread S + 7.00% Maturity 08/11/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 12.24% | 12.24% | 12.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 11, 2027 | Aug. 11, 2027 | Aug. 11, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 5,932 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 5,207 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 5,103 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Volt Bidco, Inc. (dba Power Factors) Industry Independent Power and Renewable Electricity Producers Reference Rate and Spread S + 7.00% Maturity 08/11/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 7.00% | 7.00% | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Aug. 11, 2027 | Aug. 11, 2027 | Aug. 11, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 3,343 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (49) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (59) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WSO2, Inc. Industry IT Services Interest Rate 12.85% Reference Rate and Spread S + 7.50% (incl. 3.00% PIK) Maturity 11/04/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.85% | 12.85% | 12.85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.50% | 7.50% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Nov. 04, 2026 | Nov. 04, 2026 | Nov. 04, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 29,518 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 29,124 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 28,928 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WebPT, Inc. Industry Health Care Technology Interest Rate 11.98% Reference Rate and Spread S + 6.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.98% | 11.98% | 11.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 18, 2028 | Jan. 18, 2028 | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 12,434 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 12,285 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 12,061 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WebPT, Inc. Industry Health Care Technology Interest Rate 12.01% Reference Rate and Spread S + 6.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 12.01% | 12.01% | 12.01% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jan. 18, 2028 | Jan. 18, 2028 | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,146 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,083 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,039 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WebPT, Inc. Industry Health Care Technology Interest Rate 12.11% Reference Rate and Spread S + 6.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.11% | 12.11% | 12.11% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 18, 2028 | Jan. 18, 2028 | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 12,701 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 12,396 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 12,320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WebPT, Inc. Industry Health Care Technology Interest Rate 14.00% Reference Rate and Spread P + 5.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 14.00% | 14.00% | 14.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jan. 18, 2028 | Jan. 18, 2028 | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,146 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 590 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Wellness AcquisitionCo, Inc. (dba SPINS) Industry IT Services Interest Rate 10.86% Reference Rate and Spread S + 5.50% Maturity 01/20/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 10.86% | 10.86% | 10.86% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jan. 20, 2027 | Jan. 20, 2027 | Jan. 20, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 20,099 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 19,837 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 19,798 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Wellness AcquisitionCo, Inc. (dba SPINS) Industry IT Services Reference Rate and Spread S + 5.50% Maturity 01/20/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jan. 20, 2027 | Jan. 20, 2027 | Jan. 20, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 2,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | (29) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ (36) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Wellness AcquisitionCo, Inc. (dba SPINS) Industry IT Services Reference Rate and Spread S + 5.50% Maturity 01/20/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.50% | 5.50% | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jan. 20, 2027 | Jan. 20, 2027 | Jan. 20, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (27) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (56) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Whitewater Holding Company LLC Industry Diversified Consumer Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 12/21/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 21, 2027 | Dec. 21, 2027 | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 15,549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 15,307 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 15,044 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Whitewater Holding Company LLC Industry Diversified Consumer Services Interest Rate 11.14% Reference Rate and Spread S + 5.75% Maturity 12/21/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.14% | 11.14% | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 21, 2027 | Dec. 21, 2027 | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 5,186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 5,105 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 5,018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Whitewater Holding Company LLC Industry Diversified Consumer Services Interest Rate 11.16% Reference Rate and Spread S + 5.75% Maturity 12/21/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.16% | 11.16% | 11.16% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 21, 2027 | Dec. 21, 2027 | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 5,219 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 5,134 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 5,049 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Whitewater Holding Company LLC Industry Diversified Consumer Services Interest Rate 11.32% Reference Rate and Spread S + 6.00% Maturity 12/21/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.32% | 11.32% | 11.32% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 21, 2027 | Dec. 21, 2027 | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,898 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 1,906 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 1,876 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Whitewater Holding Company LLC Industry Diversified Consumer Services Reference Rate and Spread S + 5.75% Maturity 12/21/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 5.75% | 5.75% | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Dec. 21, 2027 | Dec. 21, 2027 | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 2,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (32) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (68) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WorkForce Software, LLC Industry Software Interest Rate 12.46% Reference Rate and Spread L + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.46% | 12.46% | 12.46% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.25% | 7.25% | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 31, 2025 | Jul. 31, 2025 | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 9,099 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 9,007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 8,895 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WorkForce Software, LLC Industry Software Interest Rate 12.66% Reference Rate and Spread S + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.66% | 12.66% | 12.66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.25% | 7.25% | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 31, 2025 | Jul. 31, 2025 | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 11,828 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 11,724 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 11,562 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WorkForce Software, LLC Industry Software Interest Rate 12.66% Reference Rate and Spread S + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.66% | 12.66% | 12.66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.25% | 7.25% | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 31, 2025 | Jul. 31, 2025 | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,852 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,818 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,787 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WorkForce Software, LLC Industry Software Interest Rate 12.66% Reference Rate and Spread S + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.66% | 12.66% | 12.66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.25% | 7.25% | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 31, 2025 | Jul. 31, 2025 | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 2,092 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 2,074 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 2,045 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% WorkForce Software, LLC Industry Software Reference Rate and Spread S + 7.25% (Incl. 3.00% PIK) Maturity 07/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.25% | 7.25% | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 3.00% | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Jul. 31, 2025 | Jul. 31, 2025 | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 980 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | (8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ (22) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Zarya Intermediate, LLC (dba iOFFICE) Industry Real Estate Mgmt. & Development Interest Rate 11.73% Reference Rate and Spread S + 6.50% Maturity 07/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21],[22] | 11.73% | 11.73% | 11.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21],[22] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3],[22] | Jul. 01, 2027 | Jul. 01, 2027 | Jul. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19],[22] | $ 8,383 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[22] | 1,198 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[22] | $ 1,114 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Zarya Intermediate, LLC (dba iOFFICE) Industry Real Estate Mgmt. & Development Interest Rate 11.76% Reference Rate and Spread S + 6.50% Maturity 07/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 11.76% | 11.76% | 11.76% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 6.50% | 6.50% | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jul. 01, 2027 | Jul. 01, 2027 | Jul. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 80,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 80,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 79,740 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Zodiac Intermediate, LLC (dba Zipari) Industry Health Care Technology Interest Rate 13.54% Reference Rate and Spread L + 8.00% Maturity 12/21/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 13.54% | 13.54% | 13.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Dec. 21, 2026 | Dec. 21, 2026 | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 46,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 45,659 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 40,606 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% Zodiac Intermediate, LLC (dba Zipari) Industry Health Care Technology Interest Rate 13.54% Reference Rate and Spread L + 8.00% Maturity 12/22/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [2],[3],[21] | 13.54% | 13.54% | 13.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [2],[3],[21] | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [2],[3] | Dec. 22, 2025 | Dec. 22, 2025 | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [2],[3],[19] | $ 7,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3] | 6,892 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3] | $ 6,107 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% iCIMS, Inc. Industry Professional Services Interest Rate 11.99% Reference Rate and Spread S + 6.75% Maturity 08/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21],[22] | 11.99% | 11.99% | 11.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 6.75% | 6.75% | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 18, 2028 | Aug. 18, 2028 | Aug. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 3,639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3],[22] | 553 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | $ 480 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% iCIMS, Inc. Industry Professional Services Interest Rate 12.38% Reference Rate and Spread S + 7.25% (incl. 3.88% PIK) Maturity 08/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 12.38% | 12.38% | 12.38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 7.25% | 7.25% | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21] | 3.88% | 3.88% | 3.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Aug. 18, 2028 | Aug. 18, 2028 | Aug. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 38,976 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 38,382 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 37,612 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 204.03% iCIMS, Inc. Industry Professional Services Reference Rate and Spread S + 7.25% (incl. 3.88% PIK) Maturity 08/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21],[22] | 7.25% | 7.25% | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [1],[2],[3],[21],[22] | 3.88% | 3.88% | 3.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3],[22] | Aug. 18, 2028 | Aug. 18, 2028 | Aug. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19],[22] | $ 9,385 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3],[22] | (328) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 2,610,793 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 2,561,708 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% 1272775 B.C. LTD. (dba Everest Clinical Research) Industry Professional Services Interest Rate 10.73% Reference Rate and Spread S+6.00% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 8,546 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 8,460 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 8,439 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% 1272775 B.C. LTD. (dba Everest Clinical Research) Industry Professional Services Interest Rate 11.45% Reference Rate and Spread CDN P + 4.75% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 11.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 4.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 418 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 312 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 305 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% 1272775 B.C. LTD. (dba Everest Clinical Research) Industry Professional Services Interest Rate 11.46% Reference Rate and Spread P + 6.00% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13],[24] | 11.46% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13],[24] | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13],[24] | $ 846 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13],[24] | 688 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13],[24] | $ 685 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% 3SI Security Systems, Inc. Industry Commercial Services & Supplies Interest Rate 11.24% Reference Rate and Spread L + 6.50% Maturity 12/16/24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[7],[8] | 11.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[8] | Dec. 16, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[8],[9] | $ 2,059 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[8] | 2,038 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[8] | $ 1,992 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Interest Rate 10.03% Reference Rate and Spread S + 7.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.03% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 35,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 34,740 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 34,222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Interest Rate 12.01% Reference Rate and Spread S + 8.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.01% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,127 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,127 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,121 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Interest Rate 12.35% Reference Rate and Spread S + 8.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 12.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 5,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 2,040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 2,025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% AQ Helios Buyer, Inc. (dba SurePoint) Industry Software Reference Rate and Spread S + 7.00% Maturity 07/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,160 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (59) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (125) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) Industry Software Interest Rate 10.64% Reference Rate and Spread L + 6.25% Maturity 03/10/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Mar. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 532 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) Industry Software Interest Rate 9.99% Reference Rate and Spread L + 6.25% Maturity 03/10/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Mar. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 14,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 14,405 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 14,373 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) Industry Software Interest Rate 9.99% Reference Rate and Spread L + 6.25% Maturity 03/10/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 9.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Mar. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,751 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,513 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,482 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Acquia, Inc. Industry Software Interest Rate 10.74% Reference Rate and Spread L + 7.00% Maturity 10/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 24,940 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 24,615 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 24,379 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Acquia, Inc. Industry Software Interest Rate 12.16% Reference Rate and Spread L + 7.00% Maturity 10/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 12.16% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Oct. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,933 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,115 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,093 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Admiral Buyer, Inc. (dba Fidelity Payment Services) Industry Diversified Financial Services Interest Rate 10.08% Reference Rate and Spread S + 5.50% Maturity 05/08/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.08% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | May 08, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 24,130 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 23,689 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 23,647 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Admiral Buyer, Inc. (dba Fidelity Payment Services) Industry Diversified Financial Services Reference Rate and Spread S + 6.00% Maturity 05/08/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 08, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,330 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (42) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (47) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Admiral Buyer, Inc. (dba Fidelity Payment Services) Industry Diversified Financial Services Reference Rate and Spread S + 6.00% Maturity 05/08/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 08, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 6,510 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (58) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (130) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Apptio, Inc. Industry IT Services Interest Rate 9.93% Reference Rate and Spread L + 6.00% Maturity 01/10/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[7],[8],[13] | 9.93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[8],[13] | Jan. 10, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[8],[9],[13] | $ 769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[8],[13] | 447 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[8],[13] | $ 454 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Apptio, Inc. Industry IT Services Interest Rate 9.94% Reference Rate and Spread L + 6.00% Maturity 01/10/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[7],[8] | 9.94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[8] | Jan. 10, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[8],[9] | $ 26,813 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[8] | 26,357 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[8] | $ 26,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Argos Health Holdings, Inc Industry Health Care Providers & Services Interest Rate 9.72% Reference Rate and Spread L + 5.50% Maturity 12/03/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.72% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 03, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 19,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 19,416 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 19,158 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Aria Systems, Inc. Industry Diversified Financial Services Interest Rate 11.44% Reference Rate and Spread S + 7.00% Maturity 06/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 24,702 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 24,376 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 23,899 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Assembly Intermediate LLC Industry Diversified Consumer Services Interest Rate 10.77% Reference Rate and Spread L + 6.50% Maturity 10/19/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.77% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Oct. 19, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 9,977 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 5,456 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 5,437 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Assembly Intermediate LLC Industry Diversified Consumer Services Interest Rate 11.05% Reference Rate and Spread L + 6.50% Maturity 10/19/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.05% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Oct. 19, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,991 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,532 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,536 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Assembly Intermediate LLC Industry Diversified Consumer Services Interest Rate 11.23% Reference Rate and Spread L + 6.50% Maturity 10/19/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 19, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 39,908 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 39,242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 39,310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% BSI3 Menu Buyer, Inc (dba Kydia) Industry Diversified Financial Services Interest Rate 10.44% Reference Rate and Spread S + 6.00% Maturity 01/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 48,084 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 47,351 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 46,161 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% BSI3 Menu Buyer, Inc (dba Kydia) Industry Diversified Financial Services Reference Rate and Spread S + 6.00% Maturity 01/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jan. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,924 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (29) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (77) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bigchange Group Limited Industry Software Interest Rate 9.43% Reference Rate and Spread SN + 6.00% Maturity 12/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 9.43% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Dec. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 10,810 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 14,265 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 12,775 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bigchange Group Limited Industry Software Interest Rate 9.43% Reference Rate and Spread SN + 6.00% Maturity 12/23/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13],[24] | 9.43% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13],[24] | Dec. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13],[24] | $ 790 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13],[24] | 450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13],[24] | $ 424 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bigchange Group Limited Industry Software Reference Rate and Spread SN + 6.00% Maturity 12/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13],[24] | Dec. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13],[24] | $ 2,160 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13],[24] | (49) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13],[24] | $ (59) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Broadway Technology, LLC Industry Diversified Financial Services Interest Rate 11.34% Reference Rate and Spread S + 6.50% Maturity 01/08/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.34% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 08, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 23,777 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 23,440 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 23,539 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Broadway Technology, LLC Industry Diversified Financial Services Reference Rate and Spread S + 6.50% Maturity 01/08/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jan. 08, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (16) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (10) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bullhorn, Inc. Industry Professional Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 09/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 13,561 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 13,398 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 13,358 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bullhorn, Inc. Industry Professional Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 09/30/26 Five | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 224 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 221 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 221 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bullhorn, Inc. Industry Professional Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 09/30/26 Four | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 281 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 278 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 277 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bullhorn, Inc. Industry Professional Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 09/30/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,415 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,405 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,378 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bullhorn, Inc. Industry Professional Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 09/30/26 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 693 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 311 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 309 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Bullhorn, Inc. Industry Professional Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 09/30/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 628 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 620 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 618 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Businessolver.com, Inc. Industry Health Care Technology Interest Rate 9.67% Reference Rate and Spread L + 5.50% Maturity 12/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 16,696 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 16,554 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 16,529 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Businessolver.com, Inc. Industry Health Care Technology Interest Rate 9.88% Reference Rate and Spread L + 5.50% Maturity 12/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 9.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 367 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 11.84% Reference Rate and Spread S + 7.00% (incl. 0.75% PIK) Maturity 07/01/24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 18,099 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 17,983 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 16,741 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 11.84% Reference Rate and Spread S + 7.00% (incl. 0.75% PIK) Maturity 07/01/24 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 4,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 4,509 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 4,200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 11.84% Reference Rate and Spread S + 7.00% (incl. 0.75% PIK) Maturity 07/01/24 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 1,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 1,755 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 1,631 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CFS Management, LLC (dba Center for Sight Management) Industry Health Care Providers & Services Interest Rate 11.84% Reference Rate and Spread S + 7.00% Maturity 07/01/24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 01, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 919 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 293 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 232 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CORA Industry Health Holdings Corp Health Care Providers & Services Interest Rate 10.31% Reference Rate and Spread L + 5.75% Maturity 06/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.31% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 8,090 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 298 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (544) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CORA Industry Health Holdings Corp Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 06/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 20,404 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 20,172 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 18,160 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Capitol Imaging Acquisition Corp. Industry Health Care Providers & Services Interest Rate 11.38% Reference Rate and Spread S + 6.50% Maturity 10/01/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 01, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 39,824 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 39,287 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 38,630 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Capitol Imaging Acquisition Corp. Industry Health Care Providers & Services Interest Rate 13.00% Reference Rate and Spread P + 5.50% Maturity 10/01/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [6],[7],[8],[13] | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Oct. 01, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 9,170 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | 7,140 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ 6,969 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Checkmate Finance Merger Sub, LLC Industry Entertainment Interest Rate 11.23% Reference Rate and Spread L + 6.50% Maturity 12/31/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 28,095 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 27,611 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 27,252 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Checkmate Finance Merger Sub, LLC Industry Entertainment Reference Rate and Spread L + 6.50% Maturity 12/31/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,831 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (47) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (85) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Chronicle Bidco Inc. (dba Lexitas) Industry Professional Services Interest Rate 10.83% Reference Rate and Spread S + 6.25% Maturity 05/18/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | May 18, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 42,768 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 41,784 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 41,485 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Chronicle Bidco Inc. (dba Lexitas) Industry Professional Services Reference Rate and Spread S + 6.25% Maturity 05/18/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 18, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,676 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (69) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (110) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CivicPlus LLC Industry Software Interest Rate 11.48% Reference Rate and Spread L + 6.75% (incl. 2.50% PIK) Maturity 08/24/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 5,777 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 5,673 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 5,633 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CivicPlus LLC Industry Software Interest Rate 11.48% Reference Rate and Spread L + 6.75% (incl. 2.50% PIK) Maturity 08/24/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 5,724 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 5,619 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 5,581 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CivicPlus LLC Industry Software Interest Rate 11.48% Reference Rate and Spread L + 6.75% (incl. 2.50% PIK) Maturity 08/24/27 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,691 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,640 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,624 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CivicPlus LLC Industry Software Reference Rate and Spread L + 6.75% (incl. 2.50% PIK) Maturity 08/24/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13] | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 24, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,112 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (20) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (28) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Clearcourse Partnership Acquireco Finance Limited Industry IT Services Interest Rate 10.69% Reference Rate and Spread SN + 7.25% (Incl. 0.75% PIK) Maturity 07/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[24] | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Jul. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 5,379 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 6,324 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 6,340 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Clearcourse Partnership Acquireco Finance Limited Industry IT Services Interest Rate 9.55% Reference Rate and Spread SN + 7.25% PIK Maturity 07/25/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13],[24] | 9.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13],[24] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13],[24] | Jul. 25, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13],[24] | $ 4,771 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13],[24] | 1,864 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13],[24] | $ 1,894 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CloudBees, Inc. Industry Software Interest Rate 11.39% Reference Rate and Spread L + 7.00% (incl. 2.50% PIK) Maturity 11/24/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.39% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 25,890 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 24,568 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 25,437 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CloudBees, Inc. Industry Software Interest Rate 11.39% Reference Rate and Spread L + 7.00% (incl. 2.50% PIK) Maturity 11/24/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.39% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13] | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Nov. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 11,727 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 10,443 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 10,857 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Coding Solutions Acquisition, Inc. Industry Health Care Providers & Services Interest Rate 9.82% Reference Rate and Spread S + 5.50% Maturity 05/11/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 13,556 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 13,305 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 13,217 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Coding Solutions Acquisition, Inc. Industry Health Care Providers & Services Interest Rate 9.82% Reference Rate and Spread S + 5.50% Maturity 05/11/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 9.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,938 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 354 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Coding Solutions Acquisition, Inc. Industry Health Care Providers & Services Reference Rate and Spread S + 5.50% Maturity 05/11/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,077 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (37) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (102) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CorePower Yoga LLC Industry Diversified Consumer Services Interest Rate 11.72% Reference Rate and Spread L + 7.00% (incl. 5.00% PIK) Maturity 05/14/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.72% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13] | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 14, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 633 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 207 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 96 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% CorePower Yoga LLC Industry Diversified Consumer Services Interest Rate 11.73% Reference Rate and Spread L + 7.00% (incl. 5.00% PIK) Maturity 05/14/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | May 14, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 9,860 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 9,790 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 8,061 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% DECA Dental Holdings LLC Industry Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 08/26/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 26, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,321 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,267 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% DECA Dental Holdings LLC Industry Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 08/28/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 28, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 19,413 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 19,086 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 18,442 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% DECA Dental Holdings LLC Industry Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 08/28/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 28, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 6,699 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,971 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,708 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Diligent Corporation Industry Professional Services Interest Rate 10.13% Reference Rate and Spread L+ 5.75% Maturity 08/04/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 12,773 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 12,691 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 12,613 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Diligent Corporation Industry Professional Services Interest Rate 10.13% Reference Rate and Spread L+ 5.75% Maturity 08/04/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 8,675 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 8,621 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 8,567 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Diligent Corporation Industry Professional Services Interest Rate 10.63% Reference Rate and Spread L+ 6.25% Maturity 08/04/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.63% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 20,608 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 20,320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 20,556 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Diligent Corporation Industry Professional Services Interest Rate 10.63% Reference Rate and Spread L+ 6.25% Maturity 08/04/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.63% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 1,724 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 1,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 1,719 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Diligent Corporation Industry Professional Services Interest Rate 10.63% Reference Rate and Spread L+ 6.25% Maturity 08/04/25 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.63% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,503 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Diligent Corporation Industry Professional Services Interest Rate 10.63% Reference Rate and Spread L+ 6.25% Maturity 08/04/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.63% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 04, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 1,087 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 1,072 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 1,084 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% ESO Solutions, Inc Industry Health Care Technology Interest Rate 11.59% Reference Rate and Spread S + 7.00% Maturity 05/03/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.59% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | May 03, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 36,294 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 35,733 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 35,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% ESO Solutions, Inc Industry Health Care Technology Reference Rate and Spread S + 7.00% Maturity 05/03/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 03, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,292 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (48) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (49) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Elemica Parent, Inc. Industry Chemicals Interest Rate 10.51% Reference Rate and Spread S+6.00% Maturity 09/18/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.51% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 470 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 464 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 451 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Elemica Parent, Inc. Industry Chemicals Interest Rate 10.58% Reference Rate and Spread S + 6.00% Maturity 09/18/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 1,372 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 1,346 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 1,317 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Elemica Parent, Inc. Industry Chemicals Interest Rate 10.68% Reference Rate and Spread S + 6.00% Maturity 09/18/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 686 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 677 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 659 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Elemica Parent, Inc. Industry Chemicals Interest Rate 10.68% Reference Rate and Spread S+6.00% Maturity 09/18/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 513 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 503 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 492 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Elemica Parent, Inc. Industry Chemicals Interest Rate 10.74% Reference Rate and Spread L+6.00% Maturity 09/18/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Sep. 18, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 3,511 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 3,467 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 3,371 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 9.67% Reference Rate and Spread S + 5.25% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 6,237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 6,187 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 6,035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 9.67% Reference Rate and Spread S + 5.50% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,955 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,914 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,859 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 9.75% Reference Rate and Spread S + 5.75% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 8,571 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 8,413 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 8,399 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 9.67% Reference Rate and Spread S + 5.25% Maturity 12/06/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,934 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,899 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,839 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 9.67% Reference Rate and Spread S + 5.25% Maturity 12/06/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,688 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,665 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,601 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Eptam Plastics, Ltd. Industry Health Care Equipment & Supplies Interest Rate 9.67% Reference Rate and Spread S + 5.25% Maturity 12/06/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 9.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 06, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,365 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 92 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Everest Clinical Research Corporation Industry Professional Services Interest Rate 10.65% Reference Rate and Spread S + 6.00% Maturity 11/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Nov. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 5,450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 5,342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 5,382 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Experity, Inc. Industry Health Care Technology Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 02/24/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Feb. 24, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 34,005 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 33,873 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 33,495 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Experity, Inc. Industry Health Care Technology Reference Rate and Spread L + 5.75% Maturity 02/24/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Feb. 24, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (12) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (45) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Fullsteam Operations LLC Industry Diversified Financial Services Interest Rate 12.23% Reference Rate and Spread L + 7.50%(Incl. 5.25% PIK) Maturity 10/04/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 53,981 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 52,748 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 52,632 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Fullsteam Operations LLC Industry Diversified Financial Services Interest Rate 12.23% Reference Rate and Spread L + 7.50%(Incl. 5.25% PIK) Maturity 10/04/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 20,906 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 20,398 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 20,383 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Fullsteam Operations LLC Industry Diversified Financial Services Interest Rate 12.23% Reference Rate and Spread L + 7.50%(Incl. 5.25% PIK) Maturity 10/04/27 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 12.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,067 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 993 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread L + 7.50%(Incl. 5.25% PIK) Maturity 10/04/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [6],[7],[8],[13] | 5.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Oct. 04, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | (16) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ (19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Interest Rate 12.98% Reference Rate and Spread S + 8.25%(Incl. 3.75% PIK) Maturity 06/24/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 13,845 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 13,682 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 13,014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Interest Rate 12.98% Reference Rate and Spread S + 8.25%(Incl. 3.75% PIK) Maturity 06/24/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,422 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,394 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,277 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Interest Rate 12.98% Reference Rate and Spread S + 8.25%(Incl. 3.75% PIK) Maturity 06/24/26 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 905 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 891 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 850 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GHA Buyer Inc. (dba Cedar Gate) Industry Health Care Technology Reference Rate and Spread S + 8.25%(Incl. 3.75% PIK) Maturity 06/24/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13] | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 24, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,749 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (20) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (105) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GS AcquisitionCo, Inc. (dba Insightsoftware) Industry Diversified Financial Services Interest Rate 9.92% Reference Rate and Spread L + 5.75% Maturity 05/22/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 9.92% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | May 22, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 22,855 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 22,648 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 22,055 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GS AcquisitionCo, Inc. (dba Insightsoftware) Industry Diversified Financial Services Reference Rate and Spread L + 5.75% Maturity 05/22/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[13] | May 22, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9],[13] | $ 914 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[13] | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[13] | $ (32) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Gainsight, Inc. Industry Software Interest Rate 11.16% Reference Rate and Spread L + 6.75% PIK Maturity 07/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.16% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 40,594 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 40,066 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 39,072 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Gainsight, Inc. Industry Software Reference Rate and Spread L + 6.75% PIK Maturity 07/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,830 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (65) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (181) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GovDelivery Holdings, LLC (dba Granicus, Inc.) Industry Software Interest Rate 10.14% Reference Rate and Spread L + 6.00% Maturity 01/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 10.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Jan. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 3,444 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 3,390 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 3,358 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GovDelivery Holdings, LLC (dba Granicus, Inc.) Industry Software Interest Rate 10.69% Reference Rate and Spread L + 6.50% Maturity 01/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [6],[7],[13] | 10.69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[13] | Jan. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[9],[13] | $ 2,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[13] | 760 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[13] | $ 726 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% GovDelivery Holdings, LLC (dba Granicus, Inc.) Industry Software Interest Rate 9.64% Reference Rate and Spread L + 5.50% Maturity 01/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 9.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Jan. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 26,375 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 25,892 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 25,715 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Governmentjobs.com, Inc. (dba NeoGov) Industry Software Interest Rate 9.88% Reference Rate and Spread L + 5.50% Maturity 12/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 37,908 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 37,825 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 37,245 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Governmentjobs.com, Inc. (dba NeoGov) Industry Software Reference Rate and Spread L + 5.50% Maturity 12/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 13,262 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (14) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (232) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Governmentjobs.com, Inc. (dba NeoGov) Industry Software Reference Rate and Spread L + 5.50% Maturity 12/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,244 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (74) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) Hotels, Restaurants & Leisure Interest Rate 11.14% Reference Rate and Spread L + 675% Maturity 07/09/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 09, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 5,493 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 5,416 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 5,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) Hotels, Restaurants & Leisure Interest Rate 11.14% Reference Rate and Spread L + 675% Maturity 07/09/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 09, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,074 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) Hotels, Restaurants & Leisure Interest Rate 11.14% Reference Rate and Spread L + 675% Maturity 07/09/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 09, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 26,485 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 26,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 25,690 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HealthEdge Software, Inc. Industry Health Care Technology Interest Rate 11.74% Reference Rate and Spread L + 7.00% Maturity 04/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 32,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 31,496 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 31,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HealthEdge Software, Inc. Industry Health Care Technology Interest Rate 11.74% Reference Rate and Spread L + 7.00% Maturity 04/09/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,897 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HealthEdge Software, Inc. Industry Health Care Technology Reference Rate and Spread L + 7.00% Maturity 04/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (52) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (77) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HealthEdge Software, Inc. Industry Health Care Technology Reference Rate and Spread L + 7.00% Maturity 04/09/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Apr. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 8,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (65) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (191) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 10.10% Reference Rate and Spread L + 5.75% Maturity 12/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 18,616 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 13,934 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 13,668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 10.38% Reference Rate and Spread L + 6.00% Maturity 12/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 17,557 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 17,336 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 17,206 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 10.38% Reference Rate and Spread L + 6.00% Maturity 12/15/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 13,471 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 13,365 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 13,202 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Interest Rate 10.38% Reference Rate and Spread L + 6.00% Maturity 12/15/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 7,279 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 7,167 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 7,134 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Helios Buyer, Inc. (dba Heartland) Industry Diversified Consumer Services Reference Rate and Spread L + 6.00% Maturity 12/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Dec. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 2,199 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | (30) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ (44) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Honor HN Buyer, Inc Industry Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread S + 5.75% Maturity 10/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 21,875 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 21,511 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 21,383 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Honor HN Buyer, Inc Industry Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread S + 5.75% Maturity 10/15/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[13],[25] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[13],[25] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[13],[25] | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9],[13],[25] | $ 13,816 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[13],[25] | 5,801 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[13],[25] | $ 5,654 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Honor HN Buyer, Inc Industry Health Care Providers & Services Reference Rate and Spread S + 5.75% Maturity 10/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[13],[25] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[13],[25] | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9],[13],[25] | $ 2,542 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[13],[25] | (41) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[13],[25] | $ (57) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Honor HN Buyer, Inc Industry Health Care Providers & Services Reference Rate and Spread S + 5.75% Maturity 10/15/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Oct. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 19,555 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | (183) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ (440) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HowlCO LLC (dba Lone Wolf) Industry Real Estate Mgmt. & Development Interest Rate 10.57% Reference Rate and Spread L + 6.00% Maturity 10/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.57% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Oct. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 32,007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 31,627 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 30,407 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HowlCO LLC (dba Lone Wolf) Real Estate Mgmt. & Development Interest Rate 10.69% Reference Rate and Spread L + 6.00% Maturity 10/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Oct. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 10,263 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 10,184 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 9,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HowlCO LLC (dba Lone Wolf)Real Estate Mgmt. & Development Interest Rate 10.73% Reference Rate and Spread L + 6.00% Maturity 10/23/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Oct. 23, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 9,818 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 9,755 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 9,327 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HumanState Limited (dba PayProp) Diversified Consumer Services Interest Rate 9.43% Reference Rate and Spread SN + 6.00% Maturity 11/23/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.43% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 23, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 1,189 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 1,191 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HumanState Limited (dba PayProp) Diversified Consumer Services Reference Rate and Spread SN + 6.00% Maturity 11/23/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Nov. 23, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% HumanState Limited (dba PayProp) Diversified Consumer Services Reference Rate and Spread SN + 6.00% Maturity 11/23/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Nov. 23, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Intelligent Medical Objects, Inc. Health Care Technology Interest Rate10.61% Reference Rate and Spread S + 6.00% Maturity 05/11/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.61% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 11, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,396 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 240 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Intelligent Medical Objects, Inc. Health Care Technology Interest Rate10.62% Reference Rate and Spread S + 6.00% Maturity 05/11/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.62% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | May 11, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 11,386 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 11,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 11,159 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Intelligent Medical Objects, Inc. Health Care Technology Reference Rate and Spread S + 6.00% Maturity 05/11/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | May 11, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,690 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (25) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (54) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Internet Truckstop Group, LLC (dba Truckstop) Transportation Infrastructure Interest Rate 10.23% Reference Rate and Spread L + 5.50% Maturity 04/02/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Apr. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 38,291 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 37,723 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 37,812 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Kaseya Inc. IT Services Interest Rate 10.33% Reference Rate and Spread S + 5.75% Maturity 06/25/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.33% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 25, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 16,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 16,661 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 16,646 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Kaseya Inc. IT Services Reference Rate and Spread S + 5.75% Maturity 06/25/29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 25, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Kaseya Inc. IT Services Reference Rate and Spread S + 5.75% Maturity 06/25/29 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 25, 2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (14) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% LS Clinical Services Holdings, Inc (dba CATO) Pharmaceuticals Interest Rate 11.18% Reference Rate and Spread L + 6.75% Maturity 12/16/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.18% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 16, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 1,995 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 1,956 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 1,941 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% LS Clinical Services Holdings, Inc (dba CATO) Pharmaceuticals Interest Rate11.48% Reference Rate and Spread L + 6.75% Maturity 12/16/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 16, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 13,828 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 13,533 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 13,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MRI Software LLC Real Estate Mgmt. & Development Interest Rate10.23% Reference Rate and Spread L + 5.50% Maturity 02/10/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[7] | 10.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5] | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[9] | $ 27,464 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5] | 27,138 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5] | $ 26,331 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MRI Software LLC Real Estate Mgmt. & Development Interest Rate10.23% Reference Rate and Spread L + 5.50% Maturity 02/10/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[7] | 10.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5] | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[9] | $ 16,460 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5] | 16,364 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5] | $ 15,781 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MRI Software LLC Real Estate Mgmt. & Development Reference Rate and Spread L + 5.50% Maturity 02/10/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[13] | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[9],[13] | $ 1,143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[13] | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[13] | $ (47) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MRI Software LLC Real Estate Mgmt. & Development Reference Rate and Spread L + 5.50% Maturity 02/10/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[13] | Feb. 10, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9],[13] | $ 3,238 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[13] | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[13] | $ (134) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MedeAnalytics, Inc. Health Care Technology Reference Rate and Spread S + 8.00% (incl. 1.50% PIK) Maturity 10/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[25] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[25] | 1.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[25] | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[25] | $ 43,737 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[25] | 41,615 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[25] | $ 34,552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MerchantWise Solutions, LLC (dba HungerRush) Diversified Financial Services Interest Rate 10.63% Reference Rate and Spread S + 6.00% Maturity 06/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.63% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,968 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 3,234 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 3,204 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% MerchantWise Solutions, LLC (dba HungerRush) Diversified Financial Services Reference Rate and Spread S + 6.00% Maturity 06/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,485 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (45) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (75) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Millstone Medical Outsourcing, LLC Health Care Providers & Services Interest Rate 10.87% Reference Rate and Spread S + 6.00% Maturity 12/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 9,231 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 9,074 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 9,047 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Millstone Medical Outsourcing, LLC Health Care Providers & Services Interest Rate12.5% Reference Rate and Spread P + 5.00% Maturity 12/15/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 12.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 15, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,998 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 360 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% NFM & J, L.P. (dba the Facilities Group) Professional Services Interest Rate 10.13% Reference Rate and Spread L + 5.75% Maturity 11/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 15,391 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 15,137 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 14,929 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% NFM & J, L.P. (dba the Facilities Group) Professional Services Interest Rate 10.27% Reference Rate and Spread L + 5.75% Maturity 11/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.27% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Nov. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 15,625 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 12,621 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 12,397 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% NFM & J, L.P. (dba the Facilities Group) Professional Services Reference Rate and Spread L + 5.75% Maturity 11/30/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Nov. 30, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,696 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (45) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (81) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% One GI LLC Health Care Providers & Services Interest Rate 11.07% Reference Rate and Spread L + 6.75% Maturity 12/22/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 5,679 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 5,543 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 5,357 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% One GI LLC Health Care Providers & Services Interest Rate 11.13% Reference Rate and Spread L + 6.75% Maturity 12/22/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 20,978 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 20,704 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 19,929 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% One GI LLC Health Care Providers & Services Interest Rate 11.13% Reference Rate and Spread L + 6.75% Maturity 12/22/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 10,307 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 10,148 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 9,791 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% One GI LLC Health Care Providers & Services Interest Rate 11.13% Reference Rate and Spread L + 6.75% Maturity 12/22/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 8,722 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 8,610 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 8,286 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% One GI LLC Health Care Providers & Services Reference Rate and Spread L + 6.75% Maturity 12/22/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,246 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (42) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (162) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PDDS Holdco, Inc. (dba Planet DDS) Health Care Technology Interest Rate 12.53% Reference Rate and Spread S + 7.50% Maturity 07/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 12.53% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,170 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,119 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PDDS Holdco, Inc. (dba Planet DDS) Health Care Technology Reference Rate and Spread S + 6.75% Maturity 07/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,705 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (32) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (34) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PDDS Holdco, Inc. (dba Planet DDS) Health Care Technology Reference Rate and Spread S + 6.75% Maturity 07/18/28 one | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (23) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (51) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PDDS Holdco, Inc. (dba Planet DDS) Health Care Technology Interest Rate 12.54% Reference Rate and Spread S + 7.50% Maturity 07/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 22,055 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 21,639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 21,614 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PDDS Holdco, Inc. (dba Planet DDS) Health Care Technology Interest Rate 12.54% Reference Rate and Spread S + 7.50% Maturity 07/18/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,145 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,102 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PT Intermediate Holdings III, LLC (dba Parts Town) Trading Companies & Distributors Interest Rate 10.23% Reference Rate and Spread L + 5.50% Maturity 11/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 10.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 20,543 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 20,364 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 19,824 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PT Intermediate Holdings III, LLC (dba Parts Town) Trading Companies & Distributors Interest Rate 10.23% Reference Rate and Spread L + 5.50% Maturity 11/01/28 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 10.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 1,261 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 1,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 1,217 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PT Intermediate Holdings III, LLC (dba Parts Town) Trading Companies & Distributors Interest Rate 10.23% Reference Rate and Spread L + 5.50% Maturity 11/01/28 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 10.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 1,762 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 1,747 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 1,701 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% PT Intermediate Holdings III, LLC (dba Parts Town) Trading Companies & Distributors Interest Rate 10.23% Reference Rate and Spread L + 5.50% Maturity 11/01/28 one | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 10.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 1,826 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 1,810 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 1,762 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Picture Head Midco LLC Entertainment Interest Rate 11.11% Reference Rate and Spread S + 6.75% Maturity 08/31/23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.11% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 19,521 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 19,416 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 19,130 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Pioneer Buyer I, LLC Software Interest Rate 11.72% Reference Rate and Spread L + 7.00% PIK Maturity 11/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.72% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 23,810 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 23,438 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 23,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Pioneer Buyer I, LLC Software Reference Rate and Spread L +7.00% Maturity 11/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Nov. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (63) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (78) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Pluralsight, Inc Professional Services Interest Rate 11.83% Reference Rate and Spread L + 8.00% Maturity 04/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Apr. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 68,747 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 67,688 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 67,200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Pluralsight, Inc Professional Services Interest Rate 12.36% Reference Rate and Spread L + 8.00% Maturity 04/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 12.36% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Apr. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 2,234 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 2,196 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Premier Care Dental Management, LLC Health Care Providers & Services Interest Rate 9.73% Reference Rate and Spread L + 5.50% Maturity 08/05/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 9.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 05, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 880 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 840 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Premier Care Dental Management, LLC Health Care Providers & Services Interest Rate 9.88% Reference Rate and Spread L + 5.50% Maturity 08/05/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 05, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 16,906 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 16,623 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 16,399 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Premier Care Dental Management, LLC Health Care Providers & Services Interest Rate 9.88% Reference Rate and Spread L + 5.50% Maturity 08/05/28 one | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 9.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 05, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 9,172 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 7,647 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 7,475 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Premier Imaging, LLC (dba Lucid Health) Health Care Providers & Services Interest Rate 10.13% Reference Rate and Spread L + 5.75% Maturity 01/02/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 16,404 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 16,269 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 15,994 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Premier Imaging, LLC (dba Lucid Health) Health Care Providers & Services Interest Rate 10.13% Reference Rate and Spread L + 5.75% Maturity 01/02/25 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 10,242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 2,832 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 2,680 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Premier Imaging, LLC (dba Lucid Health) Health Care Providers & Services Interest Rate 10.13% Reference Rate and Spread L + 5.75% Maturity 01/02/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 4,580 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 4,533 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 4,466 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Premier Imaging, LLC (dba Lucid Health) Health Care Providers & Services Interest Rate 10.13% Reference Rate and Spread L + 5.75% Maturity 01/02/25 one | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 10,831 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 10,720 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 10,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Project Eagle Holdings, LLC (dba Exostar) Aerospace & Defense Interest Rate 10.64% Reference Rate and Spread L + 6.25% Maturity 07/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 40,093 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 39,438 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 39,291 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Project Eagle Holdings, LLC (dba Exostar) Aerospace & Defense Reference Rate and Spread L + 6.25% Maturity 07/06/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 06, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,418 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (51) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (68) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Prophix Software Inc. (dba Pound Bidco) Diversified Financial Services Interest Rate 10.67% Reference Rate and Spread L + 6.50% Maturity 01/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Jan. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 17,147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 16,920 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 16,932 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Prophix Software Inc. (dba Pound Bidco) Diversified Financial Services Interest Rate 10.67% Reference Rate and Spread L + 6.50% Maturity 01/30/26 one | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | Jan. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 7,015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 6,910 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 6,928 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Prophix Software Inc. (dba Pound Bidco) Diversified Financial Services Reference Rate and Spread L + 6.50% Maturity 01/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13],[24] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13],[24] | Jan. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13],[24] | $ 3,118 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13],[24] | (39) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13],[24] | $ (39) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Qualawash Holdings, LLC Commercial Services & Supplies Interest Rate 9.44% Reference Rate and Spread L + 5.50% Maturity 08/31/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 10,345 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 10,211 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 10,138 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Qualawash Holdings, LLC Commercial Services & Supplies Interest Rate 9.89% Reference Rate and Spread L + 5.50% Maturity 08/31/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 9.89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,607 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 2,123 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 2,098 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Qualawash Holdings, LLC Commercial Services & Supplies Reference Rate and Spread L + 5.50% Maturity 08/31/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,613 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (33) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (52) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Riverpoint Medical, LLC Health Care Equipment & Supplies Interest Rate 9.73% Reference Rate and Spread S + 5.00% Maturity 06/21/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 21, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 13,477 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 13,367 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 13,174 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Riverpoint Medical, LLC Health Care Equipment & Supplies Interest Rate 9.73% Reference Rate and Spread S + 5.00% Maturity 06/21/25 one | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 21, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 9,548 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 9,510 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 9,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Riverpoint Medical, LLC Health Care Equipment & Supplies Reference Rate and Spread S + 5.00% Maturity 06/21/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 21, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,806 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (41) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Rodeo Buyer Company (dba Absorb Software) Professional Services Interest Rate 10.49% Reference Rate and Spread L + 6.25% Maturity 05/25/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [6],[7],[8],[13],[24] | 10.49% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13],[24] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13],[24] | May 25, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13],[24] | $ 3,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13],[24] | 261 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13],[24] | $ 253 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Rodeo Buyer Company (dba Absorb Software) Professional Services Interest Rate 10.63% Reference Rate and Spread L + 6.25% Maturity 05/25/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[24] | 10.63% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[24] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[24] | May 25, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[24] | $ 19,155 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[24] | 18,858 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[24] | $ 18,819 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Rubrik,Inc Software Interest Rate 10.75% Reference Rate and Spread S + 6.50% Maturity 06/10/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 32,242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 31,657 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 31,597 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Rubrik,Inc Software Interest Rate 11.45% Reference Rate and Spread S + 7.00% Maturity 06/10/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 10, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,685 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,567 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,493 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Southeast Mechanical, LLC (dba. SEM Holdings, LLC) Diversified Consumer Services Interest Rate 10.44% Reference Rate and Spread S + 6.00% Maturity 07/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[16] | 10.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[16] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[16] | Jul. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[16] | $ 9,851 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[16] | 9,669 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[16] | $ 9,653 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Southeast Mechanical, LLC (dba. SEM Holdings, LLC) Diversified Consumer Services Reference Rate and Spread S + 6.00% Maturity 07/06/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13],[16] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13],[16] | Jul. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13],[16] | $ 1,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13],[16] | (31) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13],[16] | $ (34) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Southeast Mechanical, LLC (dba. SEM Holdings, LLC) Diversified Consumer Services Reference Rate and Spread S + 6.00% Maturity 07/06/27 one | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13],[16] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13],[16] | Jul. 06, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13],[16] | $ 6,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13],[16] | (62) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13],[16] | $ (136) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% SpendMend, LLC Health Care Providers & Services Interest Rate 10.17% Reference Rate and Spread S + 5.75% Maturity 03/01/28 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.17% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Mar. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 5,339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 2,093 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 2,018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% SpendMend, LLC Health Care Providers & Services Interest Rate 10.17% Reference Rate and Spread S + 5.75% Maturity 03/01/28 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.17% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Mar. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,605 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 189 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 174 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% SpendMend, LLC Health Care Providers & Services Interest Rate 10.17% Reference Rate and Spread S + 5.75% Maturity 03/01/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.17% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Mar. 01, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 12,212 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 12,023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 11,907 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% StarCompliance Intermediate, LLC Diversified Financial Services Interest Rate 11.14% Reference Rate and Spread L + 6.75% Maturity 01/12/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jan. 12, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 544 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% StarCompliance Intermediate, LLC Diversified Financial Services Interest Rate 11.48% Reference Rate and Spread L + 6.75% Maturity 01/12/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 12, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 14,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 14,192 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 14,184 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% StarCompliance Intermediate, LLC Diversified Financial Services Interest Rate 11.48% Reference Rate and Spread L + 6.75% Maturity 01/12/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 12, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,319 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,282 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,285 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sundance Group Holdings, Inc. (dba NetDocuments) Software Interest Rate 10.75% Reference Rate and Spread S + 6.25% Maturity 07/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 37,327 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 36,867 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 36,394 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sundance Group Holdings, Inc. (dba NetDocuments) Software Interest Rate 10.75% Reference Rate and Spread S + 6.25% Maturity 07/02/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 11,198 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 11,023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 10,918 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sundance Group Holdings, Inc. (dba NetDocuments) Software Interest Rate 10.93% Reference Rate and Spread S + 6.25% Maturity 07/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[7],[8] | 10.93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[8] | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[8],[9] | $ 3,239 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[8] | 3,144 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[8] | $ 3,158 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sundance Group Holdings, Inc. (dba NetDocuments) Software Reference Rate and Spread S + 6.25% Maturity 07/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 4,479 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (53) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (112) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sunstar Insurance Group, LLC Insurance Interest Rate 10.73% Reference Rate and Spread S + 6.00% Maturity 10/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 12,009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 11,833 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 11,769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sunstar Insurance Group, LLC Insurance Interest Rate 10.73% Reference Rate and Spread S + 6.00% Maturity 10/09/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 7,603 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 7,495 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 7,451 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sunstar Insurance Group, LLC Insurance Interest Rate 10.73% Reference Rate and Spread S + 6.00% Maturity 10/09/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 338 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 288 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 284 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sunstar Insurance Group, LLC Insurance Reference Rate and Spread S + 6.00% Maturity 10/09/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,503 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (53) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (70) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sunstar Insurance Group, LLC Insurance Reference Rate and Spread S + 6.00% Maturity 10/09/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Oct. 09, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 18,136 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (328) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (363) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Superman Holdings, LLC (dba Foundation Software) Construction & Engineering Interest Rate 10.85% Reference Rate and Spread L + 6.13% Maturity 08/31/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 31, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 40,174 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 39,442 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 39,370 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Superman Holdings, LLC (dba Foundation Software) Construction & Engineering Reference Rate and Spread L + 8.00% Maturity 08/31/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Aug. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 5,134 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | (79) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ (103) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sweep Purchaser LLC Commercial Services & Supplies Interest Rate 10.20% Reference Rate and Spread L + 5.75% Maturity 11/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 6,620 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 6,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 6,504 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sweep Purchaser LLC Commercial Services & Supplies Interest Rate 10.35% Reference Rate and Spread L + 5.75% Maturity 11/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 8,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 8,139 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 8,111 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sweep Purchaser LLC Commercial Services & Supplies Interest Rate 10.14% Reference Rate and Spread L + 5.75% Maturity 11/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [6],[7],[8],[13] | 10.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 4,201 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | 700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ 683 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sweep Purchaser LLC Commercial Services & Supplies Interest Rate 10.35% Reference Rate and Spread L + 5.75% Maturity 11/30/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 3,301 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 3,247 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 3,244 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Sweep Purchaser LLC Commercial Services & Supplies Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 11/30/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 26,005 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 25,642 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 25,550 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Syntellis Performance Solutions, LLC (dba Axiom) Health Care Technology Interest Rate 10.82% Reference Rate and Spread S + 6.50% Maturity 08/02/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 02, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 37,377 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 36,565 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 36,630 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Health Care Providers & Services Interest Rate 10.05% Reference Rate and Spread S + 5.50% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.05% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,361 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,862 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 1,847 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Health Care Providers & Services Interest Rate 10.20% Reference Rate and Spread S + 5.50% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,947 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 985 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Health Care Providers & Services Interest Rate 10.24% Reference Rate and Spread S + 6.00% Maturity 08/15/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 3,903 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 3,853 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 3,835 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Health Care Providers & Services Interest Rate 9.91% Reference Rate and Spread S + 5.50% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 7,164 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 7,052 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 7,039 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Health Care Providers & Services Interest Rate 10.24% Reference Rate and Spread S + 6.00% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 16,561 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 16,363 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 16,271 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) Health Care Providers & Services Interest Rate 10.41% Reference Rate and Spread S + 6.00% Maturity 08/15/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.41% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 15, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 8,951 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 8,823 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 8,794 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Thrasio, LLC Internet & Direct Marketing Retail Interest Rate 11.17% Reference Rate and Spread L + 7.00% Maturity 12/18/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.17% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 18, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 36,249 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 35,781 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 33,712 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Thrasio, LLC Internet & Direct Marketing Retail Reference Rate and Spread L + 7.00% Maturity 12/18/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 18, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 13,604 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (52) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (952) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Total Vision LLC Health Care Providers & Services Interest Rate 10.22% Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,275 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,230 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Total Vision LLC Health Care Providers & Services Interest Rate 10.32 Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.32% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 15,522 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 15,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 15,212 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Total Vision LLC Health Care Providers & Services Interest Rate 10.42% Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.42% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 9,494 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 1,009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 907 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Total Vision LLC Health Care Providers & Services Interest Rate 10.60% Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 4,552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 4,485 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 4,461 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Total Vision LLC Health Care Providers & Services Reference Rate and Spread S + 6.00% Maturity 07/15/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 15, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 1,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (16) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (23) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% USN Opco LLC (dba Global Nephrology Solutions) Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread S + 5.75% Maturity 12/21/26 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [6],[7],[8],[13] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 2,812 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | 1,767 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ 1,721 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% USN Opco LLC (dba Global Nephrology Solutions) Health Care Providers & Services Interest Rate 10.45% Reference Rate and Spread S + 5.75% Maturity 12/21/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 8,622 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 4,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 4,084 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% USN Opco LLC (dba Global Nephrology Solutions) Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread S + 5.75% Maturity 12/21/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 20,037 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 19,754 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 19,436 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% USN Opco LLC (dba Global Nephrology Solutions) Health Care Providers & Services Interest Rate 10.48% Reference Rate and Spread S + 5.75% Maturity 12/21/26 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 6,963 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 6,893 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 6,754 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% VRC Companies, LLC (dba Vital Records Control) Commercial Services & Supplies Interest Rate 10.65% Reference Rate and Spread L + 5.50% Maturity 06/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 29,631 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 29,283 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 28,668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% VRC Companies, LLC (dba Vital Records Control) Commercial Services & Supplies Reference Rate and Spread P + 4.50% Maturity 06/29/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 4.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jun. 29, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 858 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (10) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (28) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Viant Medical Holdings, Inc. Health Care Equipment & Supplies Interest Rate 10.63% Reference Rate and Spread L + 6.25% Maturity 07/02/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 10.63% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Jul. 02, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 18,805 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 18,646 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 18,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Volt Bidco, Inc. (dba Power Factors) Independent Power and Renewable Electricity Producers Interest Rate 11.07% Reference Rate and Spread S + 6.50% PIK Maturity 08/11/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 11, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 5,716 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 3,059 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 2,959 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Volt Bidco, Inc. (dba Power Factors) Independent Power and Renewable Electricity Producers Interest Rate 11.08% Reference Rate and Spread S + 6.50% Maturity 08/11/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.08% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 11, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 31,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 31,082 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 31,064 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Volt Bidco, Inc. (dba Power Factors) Independent Power and Renewable Electricity Producers Reference Rate and Spread S + 6.50% Maturity 08/11/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 11, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,343 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (55) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (59) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WSO2, Inc. IT Services Interest Rate 11.80% Reference Rate and Spread L + 7.50% (incl. 3.00% PIK) Maturity 11/04/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Nov. 04, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 29,147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 28,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 28,856 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WebPT, Inc. Health Care Technology Interest Rate 10.98% Reference Rate and Spread L + 6.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 12,434 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 12,271 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 12,061 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WebPT, Inc. Health Care Technology Interest Rate 11.26% Reference Rate and Spread L + 6.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.26% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,146 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 802 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 763 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WebPT, Inc. Health Care Technology Interest Rate 11.48% Reference Rate and Spread L + 6.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 12,701 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 12,369 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 12,320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WebPT, Inc. Health Care Technology Reference Rate and Spread L + 6.75% Maturity 01/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jan. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,146 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (14) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (64) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Wellness AcquisitionCo, Inc. (dba SPINS) IT Services Interest Rate 9.91% Reference Rate and Spread L + 5.50% Maturity 01/20/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 9.91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jan. 20, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 20,202 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 19,906 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 19,899 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Wellness AcquisitionCo, Inc. (dba SPINS) IT Services Reference Rate and Spread L + 5.50% Maturity 01/20/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [6],[8],[13] | Jan. 20, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [6],[8],[9],[13] | $ 2,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[13] | (33) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[13] | $ (36) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Wellness AcquisitionCo, Inc. (dba SPINS) IT Services Reference Rate and Spread L + 5.50% Maturity 01/20/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jan. 20, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (31) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (56) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Whitewater Holding Company LLC Diversified Consumer Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 12/21/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 15,628 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 15,361 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 15,198 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Whitewater Holding Company LLC Diversified Consumer Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 12/21/27 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 5,245 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 5,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 5,101 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Whitewater Holding Company LLC Diversified Consumer Services Interest Rate 10.48% Reference Rate and Spread L + 5.75% Maturity 12/21/27 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 5,213 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 5,123 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 5,069 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Whitewater Holding Company LLC Diversified Consumer Services Interest Rate 10.50% Reference Rate and Spread L + 5.75% Maturity 12/21/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 677 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Whitewater Holding Company LLC Diversified Consumer Services Interest Rate 10.54% Reference Rate and Spread L + 6.00% Maturity 12/21/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 10.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Dec. 21, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 2,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 268 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 239 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WorkForce Software, LLC Software Interest Rate 11.71% Reference Rate and Spread L + 6.50% Maturity 07/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8],[13] | 11.71% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 980 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | 643 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ 634 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WorkForce Software, LLC Software Interest Rate 12.46% Reference Rate and Spread L + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.46% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 11,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 11,524 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 11,418 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WorkForce Software, LLC Software Interest Rate 12.46% Reference Rate and Spread L + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 One | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.46% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 8,963 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 8,850 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 8,784 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WorkForce Software, LLC Software Interest Rate 12.46% Reference Rate and Spread L + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 Three | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.46% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% WorkForce Software, LLC Software Interest Rate 12.46% Reference Rate and Spread L + 7.25% (incl. 3.00% PIK) Maturity 07/31/25 Two | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.46% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 2,809 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 2,768 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 2,753 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Zarya Intermediate, LLC (dba iOFFICE) Real Estate Mgmt. & Development Interest Rate 10.90% Reference Rate and Spread S + 6.50% Maturity 07/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jul. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 80,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 80,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 79,740 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Zarya Intermediate, LLC (dba iOFFICE) Real Estate Mgmt. & Development Reference Rate and Spread S + 6.50% Maturity 07/01/27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 6.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Jul. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 8,383 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (84) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Zodiac Intermediate, LLC (dba Zipari) Health Care Technology Interest Rate 12.30% Reference Rate and Spread L + 8.00%, Maturity 12/22/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 22, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 7,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 6,873 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 6,317 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% Zodiac Intermediate, LLC (dba Zipari) Health Care Technology Interest Rate 12.42% Reference Rate and Spread L + 8.00% Maturity 12/21/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 12.42% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Dec. 21, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 46,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 45,553 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 42,002 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% iCIMS, Inc.s Professional Services Interest Rate 11.52% Reference Rate and Spread S + 7.25% (Incl. 3.88% PIK) Maturity 08/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 11.52% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 3.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 38,211 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 37,574 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 37,543 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% iCIMS, Inc.s Professional Services Reference Rate and Spread S + 7.25% (Incl. 3.88% PIK) Maturity 08/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8],[13] | 3.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 3,639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8],[13] | (60) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (64) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50% iCIMS, Inc.s Professional Services Reference Rate and Spread S + 7.25% Maturity 08/18/28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8],[13] | 7.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8],[13] | Aug. 18, 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9],[13] | $ 10,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8],[13] | $ (178) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50%Purfoods, LLC Health Care Providers & Services Interest Rate 10.88% Reference Rate and Spread L + 6.25% Maturity 08/12/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 10.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7],[8] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Aug. 12, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 16,233 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 15,994 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | $ 15,868 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 206.50%Purfoods, LLC Health Care Providers & Services Interest Rate 10.90% Reference Rate and Spread L + 6.25% Maturity 08/12/26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7] | 10.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [5],[6],[7] | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6] | Aug. 12, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[9] | $ 24,047 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6] | 23,692 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6] | $ 23,505 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 0.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 15,389 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 8,476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 0.67% Zep Inc. Industry Chemicals Interest Rate 13.79% Reference Rate and Spread L + 8.25% Maturity 08/11/25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[21] | 13.79% | 13.79% | 13.79% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[21] | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1] | Aug. 11, 2025 | Aug. 11, 2025 | Aug. 11, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[19] | $ 15,410 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1] | 15,389 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1] | 8,476 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment Unsecured Debt - 0.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [12] | 0.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment Unsecured Debt 0.52% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 6,569 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 6,566 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 0.52% | 0.52% | 0.52% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investment Unsecured Debt 0.52% CivicPlus LLC Industry Software Interest Rate 17.09% Reference Rate and Spread S + 11.75% PIK Maturity 06/09/34 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [1],[2],[3],[21] | 17.09% | 17.09% | 17.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2) | [1],[2],[3],[21] | 11.75% | 11.75% | 11.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [1],[2],[3] | Jun. 09, 2034 | Jun. 09, 2034 | Jun. 09, 2034 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [1],[2],[3],[19] | $ 6,734 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[2],[3] | 6,569 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[2],[3] | $ 6,566 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | 222.02% | [10] | 223.35% | [12] | 222.02% | [10] | 222.02% | [10] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 10.66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 134,787 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 134,787 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 10.66% | 10.66% | 10.66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 10.66%, Goldman Sachs Financial Square Government Fund - Institutional Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [1],[19],[26],[27] | 134,787,186 | 134,787,186 | 134,787,186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [1],[26],[27] | $ 134,787 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [1],[26],[27] | 134,787 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 9.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 122,499 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 122,499 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [12] | 9.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 9.88%, Goldman Sachs Financial Square Government Fund - Institutional Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [9],[28],[29] | 122,498,973 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [28],[29] | $ 122,499 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [28],[29] | 122,499 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 39,730 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 40,994 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30%, Broadway Parent, LLC, Diversified Financial Services, Initial Acquisition Date 01/25/2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Jan. 25, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 3,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 3,718 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 5,022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30%, CloudBees, Inc. Software, Initial Acquisition Date 11/24/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Nov. 24, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 1,038,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 11,623 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 11,407 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30%, Diligent Corporation, Professional Services, Initial Acquisition Date 04/06/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Apr. 06, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 4,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 4,290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 5,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30%, Foundation Software, Construction & Engineering, Initial Acquisition Date 08/31/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Aug. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 912 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 912 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 1,123 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30%, Governmentjobs.com, Inc. (dba NeoGov), Software, Initial Acquisition Date 12/02/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Dec. 02, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 9,549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 9,310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 10,412 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30%, MedeAnalytics, Inc. Health Care Technology, Initial Acquisition Date 10/09/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Oct. 09, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 1,825,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 1,825 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.30%, WSO2, Inc. IT Services, Initial Acquisition Date 11/04/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Nov. 04, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 509,767 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 8,052 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 7,878 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 37,905 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 44,421 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 3.52% | 3.52% | 3.52% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52%, Broadway Parent, LLC, Diversified Financial Services, Initial Acquisition Date 01/25/2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Jan. 25, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 3,700,000 | 3,700,000 | 3,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 3,718 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 6,144 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52%, CloudBees, Inc., Software, Initial Acquisition Date 11/24/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Nov. 24, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 1,038,917 | 1,038,917 | 1,038,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 11,623 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 12,758 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52%, Diligent Corporation, Professional Services, Initial Acquisition Date 04/06/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Apr. 06, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 4,400 | 4,400 | 4,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 4,290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 5,424 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52%, Foundation Software, Construction & Engineering, Initial Acquisition Date 08/31/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Aug. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 912 | 912 | 912 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 912 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 1,173 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52%, Governmentjobs.com, Inc. (dba NeoGov), Software, Initial Acquisition Date 12/02/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Dec. 02, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 9,549 | 9,549 | 9,549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 9,310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 10,966 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52%, MedeAnalytics, Inc. (dba NeoGov), Health Care Technology, Initial Acquisition Date 10/09/20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18],[20],[30] | Oct. 09, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52%, WSO2, Inc., IT Services, Initial Acquisition Date 11/04/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Nov. 04, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 509,767 | 509,767 | 509,767 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 8,052 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | 7,956 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Preferred Stock -3.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [12] | 3.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Total Investments - 211.36% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 2,718,545 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 2,672,222 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 211.36% | 211.36% | 211.36% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Total Investments - 223.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 2,825,068 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | 2,770,696 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Total Investments and Investments in Affiliated Money Market Fund - 222.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | $ 2,853,332 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | 2,807,009 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Unsecured Debt 0.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 5,590 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 5,552 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Unsecured Debt 0.45%, CivicPlus LLC Software Interest Rate 16.54% Reference Rate and Spread S + 11.75% PIK Maturity 06/09/34 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | [5],[6],[7],[8] | 16.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reference Rate and Spread (2), PIK | [5],[6],[7],[8] | 11.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | [5],[6],[8] | Jun. 09, 2034 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par /Shares (3) | [5],[6],[8],[9] | $ 5,753 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [5],[6],[8] | 5,590 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [5],[6],[8] | 5,552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Warrants - 0.03% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 1,666 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 406 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [10] | 0.03% | 0.03% | 0.03% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Warrants - 0.03%, CloudBees, Inc., Software, Initial Acquisition Date 11/24/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [2],[3],[17],[18] | Nov. 24, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [2],[3],[17],[19] | 300,946 | 300,946 | 300,946 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [2],[3],[17] | $ 1,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [2],[3],[17] | $ 406 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Warrants - 0.04% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 1,666 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | $ 551 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Warrants - 0.04%, CloudBees, Inc. Software, Initial Acquisition Date 11/24/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Acquisition Date (12) | [6],[8],[14],[15] | Nov. 24, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par/Shares (3) | shares | [6],[8],[9],[14] | 300,946 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | [6],[8],[14] | $ 1,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | [6],[8],[14] | $ 551 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, Identifier [Axis]: Warrants -0.04% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment owned, percent of net assets | [12] | 0.04% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Consolidated Schedule of Investments (Parenthetical) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Dec. 31, 2022 |
|||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | 211.40% | 213.40% | ||||||||
Fair value of securities | $ 58,267 | $ 53,448 | ||||||||
Fair value percentage of net assets of company | 4.61% | 4.31% | ||||||||
Percentage of annualized seven day yield | 5.02% | 4.14% | ||||||||
Fair value, Recurring | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Fair value of securities | $ 134,304 | $ 129,749 | ||||||||
Percentage of not qualifying assets | 4.72% | 4.55% | ||||||||
Affiliated Person | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Percentage of outstanding voting securities | 5.00% | 5.00% | ||||||||
Percentage of qualifying assets | 70.00% | 70.00% | ||||||||
12 Month LIBOR | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 6.04% | 5.48% | ||||||||
6 Month LIBOR | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 5.76% | 5.14% | ||||||||
3 Month LIBOR | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 5.55% | 4.77% | ||||||||
1 Month LIBOR | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 5.22% | 4.39% | ||||||||
1 month SOFR | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 5.14% | 4.06% | ||||||||
3 month SOFR | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 5.27% | 3.62% | ||||||||
3 month SN | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 4.39% | 3.43% | ||||||||
U.S. Prime Rate | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 8.25% | 7.50% | ||||||||
Canadian Prime Rate | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment interest rate of percentage | 6.95% | 6.45% | ||||||||
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | 1.53% | [1] | 1.47% | [2],[3] | ||||||
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [3] | 206.50% | ||||||||
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 204.03% | ||||||||
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 0.67% | ||||||||
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [3] | 0.75% | ||||||||
Investment, Identifier [Axis]: Common Stock - 1.06% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 1.06% | ||||||||
Investment, Identifier [Axis]: Common Stock -0.96% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [3] | 0.96% | ||||||||
Investment, Identifier [Axis]: Investment Unsecured Debt - 0.45% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [3] | 0.45% | ||||||||
Investment, Identifier [Axis]: Investment Unsecured Debt 0.52% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 0.52% | ||||||||
Investment, Identifier [Axis]: Investments | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | 222.02% | [1] | 223.35% | [3] | ||||||
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 10.66% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 10.66% | ||||||||
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 9.88% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [3] | 9.88% | ||||||||
Investment, Identifier [Axis]: Preferred Stock - 3.52% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 3.52% | ||||||||
Investment, Identifier [Axis]: Preferred Stock -3.30% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [3] | 3.30% | ||||||||
Investment, Identifier [Axis]: Total Investments - 211.36% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 211.36% | ||||||||
Investment, Identifier [Axis]: Warrants - 0.03% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [1] | 0.03% | ||||||||
Investment, Identifier [Axis]: Warrants -0.04% | ||||||||||
Schedule of Investments [Line Items] | ||||||||||
Investment owned, percent of net assets | [3] | 0.04% | ||||||||
|
N-2 - $ / shares |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Mar. 31, 2023 |
Jun. 30, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
Dec. 31, 2021 |
|||
Cover [Abstract] | |||||||
Entity Central Index Key | 0001772704 | ||||||
Amendment Flag | false | ||||||
Securities Act File Number | 814-01307 | ||||||
Document Type | 10-Q | ||||||
Entity Registrant Name | Goldman Sachs Private Middle Market Credit II LLC | ||||||
Entity Address, Address Line One | 200 West Street | ||||||
Entity Address, City or Town | New York | ||||||
Entity Address, State or Province | NY | ||||||
Entity Address, Postal Zip Code | 10282 | ||||||
City Area Code | 312 | ||||||
Local Phone Number | 655-4419 | ||||||
Entity Emerging Growth Company | true | ||||||
Entity Ex Transition Period | true | ||||||
General Description of Registrant [Abstract] | |||||||
Risk [Text Block] | Item 1A. RISK FACTORS An investment in our securities involves a high degree of risk. Except as set forth below, there have been no material changes to the risk factors previously reported under Item 1A. “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 2, 2023. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may materially affect our business, financial condition and/or operating results. Our business and the businesses of our portfolio companies are dependent on bank relationships and recent concerns associated with the banking system may adversely impact us.
|
||||||
NAV Per Share | [1] | $ 91.25 | $ 90.58 | $ 96.29 | $ 95.68 | ||
|
Organization |
6 Months Ended |
---|---|
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | 1. ORGANIZATION Goldman Sachs Private Middle Market Credit II LLC (the “Company”, which term refers to either Goldman Sachs Private Middle Market Credit II LLC or Goldman Sachs Private Middle Market Credit II LLC, together with its consolidated subsidiaries, as the context may require) was formed on December 20, 2018 as a Delaware limited liability company and commenced operations on April 11, 2019. The Company has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition, the Company has elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ended December 31, 2019. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien debt, unitranche debt, including last-out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. Goldman Sachs Asset Management, L.P. (“GSAM”), a Delaware limited partnership and an affiliate of Goldman Sachs & Co. LLC (including its predecessors, “GS & Co.”), is the investment adviser (the “Investment Adviser”) of the Company. The term “Goldman Sachs” refers to The Goldman Sachs Group, Inc. (“GS Group Inc.”), together with GS & Co., GSAM and its other subsidiaries. On March 25, 2019 (the “Initial Closing Date”), the Company began accepting subscription agreements (“Subscription Agreements”) from investors acquiring common units of the Company’s limited liability company interests (“Units”) in the Company’s private offering. Under the terms of the Subscription Agreements, investors are required to make capital contributions up to the undrawn amount of their capital commitment to purchase Units each time the Company delivers a drawdown notice. On February 26, 2020, the Company’s board of directors (the “Board of Directors” or the “Board”) approved an extension of the final date on which the Company accepted Subscription Agreements (the “Final Closing Date”) to September 26, 2020. The investment period commenced on the Initial Closing Date and will continue until the third anniversary of the Final Closing Date in the Company’s private offering, provided that it may be extended by the Board of Directors, in its discretion, for one additional twelve-month period, and, with the approval of a majority-in-interest of the unitholders of the Company (the “Unitholders”), for up to one additional year thereafter. In addition, the Board of Directors may terminate the investment period at any time in its discretion. Following the end of the investment period, the Company will have the right to issue drawdowns only (i) to pay, and/or establish reserves for, actual or anticipated Company expenses, liabilities, including the payment or repayment of indebtedness for borrowed money (including through the issuance of notes and other evidence of indebtedness), other indebtedness, financings or extensions of credit, or other obligations, contingent or otherwise, including the Management Fee (as defined below), whether incurred before or after the end of the investment period, (ii) to fulfill investment commitments made or approved by the BDC investment committee of Goldman Sachs Asset Management's Private Credit Team (the “BDC Investment Committee”) prior to the expiration of the investment period, (iii) to engage in hedging transactions or (iv) to make additional investments in existing portfolio companies (including transactions to hedge interest rate or currency risks related to such additional investment). The term of the Company will expire on the five-year anniversary of the expiration of the investment period, subject to the Board of Directors’ right to liquidate the Company at any time and to extend the term of the Company for up to two successive one-year periods. Upon the request of the Board of Directors and the approval of a majority-in-interest of the Unitholders, the term of the Company may be further extended. Credit Alternatives GP LLC (the “Initial Member”), an affiliate of the Investment Adviser, made a capital contribution to the Company of one hundred dollars on April 11, 2019 and served as the sole initial member of the Company. The Company cancelled the Initial Member’s interest in the Company on May 3, 2019, the first date on which investors (other than the Initial Member) made their initial capital contribution to purchase Units (the “Initial Drawdown Date”). |
Significant Accounting Policies |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Accounting Policies | 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s functional currency is U.S. dollars (“USD”) and these consolidated financial statements have been prepared in that currency. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to Regulation S-X. This requires the Company to make certain estimates and assumptions that may affect the amounts reported in the consolidated financial statements and accompanying notes. These consolidated financial statements reflect normal and recurring adjustments that in the opinion of the Company are necessary for the fair statement of the results for the periods presented. Actual results may differ from the estimates and assumptions included in the consolidated financial statements. Certain financial information that is included in annual consolidated financial statements, including certain financial statement disclosures, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes related thereto for the year ended December 31, 2022, included in the Company’s annual report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 2, 2023. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year, any other interim period, or any future year or period. As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”). Basis of Consolidation As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the financial position and results of operations of its wholly owned subsidiaries, PMMC II Blocker III LLC, Goldman Sachs Private Middle Market Credit II SPV II LLC (“SPV”), PMMC II Blocker IV LLC, PMMC II Blocker V LLC and PMMC II Blocker VI LLC. All significant intercompany transactions and balances have been eliminated in consolidation. Revenue Recognition The Company records its investment transactions on a trade date basis, which is the date when the Company assumes the risks for gains and losses related to that instrument. Realized gains and losses are based on the specific identification method. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Discounts and premiums to par value on investments purchased are accreted and amortized into interest income over the life of the respective investment using the effective interest method. Loan origination fees, original issue discount (“OID”) and market discounts or premiums are capitalized and amortized into interest income using the effective interest method or straight-line method, as applicable. Exit fees that are receivable upon repayment of a loan or debt security are amortized into interest income over the life of the respective investment. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income, for which the Company has earned the following:
Fees received from portfolio companies (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) are paid to the Company, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, the Company only receives its allocable portion of such fees when invested in the same portfolio company as another Account (as defined below) managed by the Investment Adviser. Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any. Certain investments may have contractual payment-in-kind (“PIK”) interest or dividends. PIK represents accrued interest or accumulated dividends that are added to the principal amount or shares (if equity) of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest or dividend income, as applicable. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income. Certain structuring fees, amendment fees, syndication fees and commitment fees are recorded as other income when earned. Administrative agent fees received by the Company are recorded as other income when the services are rendered over time. Non-Accrual Investments Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. The Company may make exceptions to this treatment if an investment has sufficient collateral value and is in the process of collection. As of June 30, 2023, the Company had certain investments held in one portfolio company on non-accrual status, which represented 0.2% and 0.2% of total investments (excluding investments in money market funds, if any) at amortized cost and at fair value. As of December 31, 2022, the Company had certain investments held in one portfolio company on non-accrual status, which represented 1.5% and 1.3% of total investments (excluding investments in money market funds, if any) at amortized cost and at fair value. Investments The Company carries its investments in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), issued by the FASB, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is generally based on quoted market prices provided by independent price sources. In the absence of quoted market prices, investments are measured at fair value as determined by the Investment Adviser, as the valuation designee ("Valuation Designee") designated by the Board of Directors, pursuant to Rule 2a-5 under the Investment Company Act. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See Note 5 “Fair Value Measurement”. The Company generally invests in illiquid securities, including debt and equity investments, of middle-market companies. The Board of Directors has designated to the Investment Adviser day-to-day responsibilities for implementing and maintaining internal controls and procedures related to the valuation of the Company’s portfolio investments. Under valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, market quotations are generally used to assess the value of the investments for which market quotations are readily available (as defined in Rule 2a-5). The Investment Adviser obtains these market quotations from independent pricing sources. If market quotations are not readily available, the Investment Adviser prices securities at the bid prices obtained from at least two brokers or dealers, if available; otherwise, the Investment Adviser obtains prices from a principal market maker or a primary market dealer. To assess the continuing appropriateness of pricing sources and methodologies, the Investment Adviser regularly performs price verification procedures and issues challenges as necessary to independent pricing sources or brokers, and any differences are reviewed in accordance with the valuation procedures. If the Valuation Designee believes any such market quotation does not reflect the fair value of an investment, it may independently value such investment in accordance with valuation procedures for investments for which market quotations are not readily available. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, the valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, contemplate a multi-step valuation process conducted by the Investment Adviser each quarter and more frequently as needed. As the Valuation Designee, the Investment Adviser is primarily responsible for the valuation of the Company’s assets, subject to the oversight of the Board of Directors, as described below: (1) The quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the valuation of the portfolio investment; (2) The Valuation Designee also engages independent valuation firms (the “Independent Valuation Advisors”) to provide independent valuations of the investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of an investment. The Independent Valuation Advisors independently value such investments using quantitative and qualitative information. The Independent Valuation Advisors also provide analyses to support their valuation methodology and calculations. The Independent Valuation Advisors provide an opinion on a final range of values on such investments to the Valuation Designee. The Independent Valuation Advisors define fair value in accordance with ASC 820 and utilize valuation approaches including the market approach, the income approach or both. A portion of the portfolio is reviewed on a quarterly basis, and all investments in the portfolio for which market quotations are not readily available, or are readily available, but deemed not reflective of the fair value of an investment, are reviewed at least annually by an Independent Valuation Advisor; (3) The Independent Valuation Advisors’ preliminary valuations are reviewed by the Investment Adviser and the Valuation Oversight Group (“VOG”), a team that is part of the controllers group of Goldman Sachs. The Independent Valuation Advisors’ valuation ranges are compared to the Investment Adviser’s valuations to ensure the Investment Adviser’s valuations are reasonable. VOG presents the valuations to the Asset Management Private Investment Valuation and Side Pocket Working Group of the Asset Management Valuation Committee (the “Asset Management Private Investment Valuation and Side Pocket Working Group”), which is comprised of a number of representatives from different functions and areas of expertise related to GSAM’s business and controls who are independent of the investment decision making process; (4) The Asset Management Private Investment Valuation and Side Pocket Working Group reviews and preliminarily approves the fair valuations and makes fair valuation recommendations to the Asset Management Valuation Committee; (5) The Asset Management Valuation Committee reviews the valuation information provided by the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. The Asset Management Valuation Committee then assesses such valuation recommendations; and (6) Through the Asset Management Valuation Committee, the Valuation Designee discusses the valuations, provides written reports to the Board of Directors on at least a quarterly basis, and, within the meaning of the Investment Company Act, determines the fair value of the investments in good faith, based on the inputs of the Asset Management Valuation Committee, the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. Money Market Funds Investments in money market funds are valued at net asset value (“NAV”) per share. See Note 3 “Significant Agreements and Related Party Transactions.” Cash Cash consists of deposits held at a custodian bank. As of June 30, 2023 and December 31, 2022, the Company held $4,138 and $36,657 in cash. Foreign currency of $604 and $534 (acquisition cost of $601 and $544) is included in cash as of June 30, 2023 and December 31, 2022. Foreign Currency Translation Amounts denominated in foreign currencies are translated into USD on the following basis: (i) investments and other assets and liabilities denominated in foreign currencies are translated into USD based upon currency exchange rates effective on the last business day of the period; and (ii) purchases and sales of investments, borrowings and repayments of such borrowings, income, and expenses denominated in foreign currencies are translated into USD based upon currency exchange rates prevailing on the transaction dates. The Company does not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included within the net realized and unrealized gains or losses on investments. Fluctuations arising from the translation of non-investment assets and liabilities, if any, are included with the net change in unrealized gains (losses) on foreign currency translations in the Consolidated Statements of Operations. Foreign securities and currency translations may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices to be more volatile than those of comparable U.S. companies or U.S. government securities. Income Taxes The Company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The Company reports any interest expense related to income tax matters in income tax expense and any income tax penalties under expenses in the Consolidated Statements of Operations. The Company’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction, and based on such review, the Company has concluded that no additional provision for income tax is required in the consolidated financial statements. The Company is subject to potential examination by certain taxing authorities in various jurisdictions. The Company’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities. The Company has elected to be treated as a RIC commencing with its taxable year ended December 31, 2019. So long as the Company maintains its qualification for tax treatment as a RIC, it will generally not be required to pay corporate-level U.S. federal income tax on any ordinary income or capital gains that it distributes at least annually to its Unitholders as dividends. As a result, any U.S. federal income tax liability related to income earned and distributed by the Company represents obligations of the Company’s Unitholders and will not be reflected in the consolidated financial statements of the Company. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its Unitholders for each taxable year at least 90% of its investment company taxable income (generally, its net ordinary income plus the excess of its realized net short-term capital gains over realized net long-term capital losses, determined without regard to the dividends paid deduction). In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to Unitholders. The Company will accrue excise tax on estimated undistributed taxable income as required. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate level income taxes. Income tax expense, if any, is included under the income category for which it applies in the Consolidated Statements of Operations. Distributions Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. The Company may pay distributions in excess of its taxable net investment income. This excess would be a tax-free return of capital in the period and reduce the Unitholder’s tax basis in its Units. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to common Units or distributable earnings, as appropriate, in the period that the differences arise. Temporary and permanent differences are primarily attributable to differences in the tax treatment of certain loans and the tax characterization of income and non-deductible expenses. These differences are generally determined in conjunction with the preparation of the Company’s annual RIC tax return. Distributions to common Unitholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board of Directors each quarter and is generally based upon the earnings estimated by the Investment Adviser. The Company may pay distributions to its Unitholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Unitholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Unitholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods. Deferred Financing Costs Deferred financing costs consist of fees and expenses paid in connection with the closing of, and amendments to, the JPM Revolving Credit Facility and the revolving credit facility between the Company and MUFG Bank Ltd. (as amended, restated, supplemented or otherwise modified from time to time, the “MUFG Revolving Credit Facility” and together with the JPM Revolving Credit Facility, the “Revolving Credit Facilities”). These costs are amortized using the straight-line method over the respective terms of the Revolving Credit Facilities. Deferred financing costs related to the Revolving Credit Facilities are presented separately as an asset on the Company’s Consolidated Statements of Financial Condition. |
Significant Agreements and Related Party Transactions |
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Significant Agreements and Related Party Transactions | 3. SIGNIFICANT AGREEMENTS AND RELATED PARTY TRANSACTIONS Investment Advisory Agreement The Company entered into an investment advisory agreement effective as of February 27, 2019 (the “Investment Advisory Agreement”) with the Investment Adviser, pursuant to which the Investment Adviser manages the Company’s investment program and related activities. Management Fee The Company pays the Investment Adviser a management fee (the “Management Fee”), payable quarterly in arrears, equal to 0.375% (i.e., an annual rate of 1.50%) of the average of the NAV of the Company (including un-invested cash and cash equivalents) at the end of the then-current calendar quarter and the prior calendar quarter (and, in the case of the Company’s first quarter, the average of the NAV of the Company at the end of such quarter and zero). The Management Fee for any partial quarter will be appropriately prorated. The Investment Adviser waives a portion of its management fee payable by the Company in an amount equal to the management fees it earns as an investment adviser for any affiliated money market funds in which the Company invests. For the three and six months ended June 30, 2023, Management Fees amounted to $4,683 and $9,316. As of June 30, 2023, $4,683 remained payable. For the three and six months ended June 30, 2022, Management Fees amounted to $3,954 and $7,705. Incentive Fee Pursuant to the Investment Advisory Agreement, the Company pays to the Investment Adviser an incentive fee (the “Incentive Fee”) as follows: a) First, no Incentive Fee is payable to the Investment Adviser until the Company has made cumulative distributions pursuant to this clause (a) equal to aggregate Contributed Capital (as defined below); b) Second, no Incentive Fee is payable to the Investment Adviser until the Company has made cumulative distributions pursuant to this clause (b) equal to a 7% return per annum, compounded annually, on aggregate unreturned Contributed Capital, from the date each capital contribution is made through the date such capital has been returned; c) Third, subject to clauses (a) and (b), the Investment Adviser is entitled to an Incentive Fee equal to 100% of all amounts designated by the Company as proceeds intended for distribution and Incentive Fee payments, until such time as the cumulative Incentive Fee paid to the Investment Adviser pursuant to this clause (c) is equal to 15% of the amount by which the sum of (i) cumulative distributions to Unitholders pursuant to clauses (a) and (b) above and (ii) the cumulative Incentive Fee previously paid to the Investment Adviser pursuant to this clause exceeds Contributed Capital; and d) Fourth, at any time that clause (c) has been satisfied, the Investment Adviser is entitled to an Incentive Fee equal to 15% of all amounts designated by the Company as proceeds intended for distribution and Incentive Fee payments. The Incentive Fee is calculated on a cumulative basis and the amount of the Incentive Fee payable prior to a proposed distribution will be determined and, if applicable, paid in accordance with the foregoing formula each time amounts are to be distributed to the Unitholders. The Incentive Fee is a fee owed by the Company to the Investment Adviser and is not paid out of distributions made to Unitholders. “Contributed Capital” is the aggregate amount of capital contributions that have been made by all Unitholders in respect of their Units to the Company. All distributions (or deemed distributions), including investment income (i.e. proceeds received in respect of interest payments, dividends and fees) and proceeds attributable to the repayment or disposition of any Investment, to Unitholders will be considered a return of Contributed Capital. Unreturned Contributed Capital equals aggregate Contributed Capital minus cumulative distributions, but is never less than zero. The term “proceeds intended for distribution and Incentive Fee payments” includes proceeds from the full or partial realization of the Company’s investments and income from investing activities and may include return of capital, ordinary income and capital gains. If, at the termination of the Company, the Investment Adviser has received aggregate payments of Incentive Fees in excess of the amount the Investment Adviser would have received had the Incentive Fees been determined upon such termination, then the Investment Adviser will reimburse the Company for the difference between the amount of Incentive Fees actually received and the amount determined at termination (the “Investment Adviser Reimbursement Obligation”). However, the Investment Adviser will not be required to reimburse the Company an amount greater than the aggregate Incentive Fees paid to the Investment Adviser, reduced by the excess (if any) of (a) the aggregate federal, state and local income tax liability the Investment Adviser incurred in connection with the payment of such Incentive Fees (assuming the highest marginal applicable federal and New York city and state income tax rates applied to such payments), over (b) an amount equal to the U.S. federal and state tax benefits available to the Investment Adviser by virtue of the payment made by the Investment Adviser pursuant to its Investment Adviser Reimbursement Obligation (assuming that, to the extent such payments are deductible by the Investment Adviser, the benefit of such deductions will be computed using the then highest marginal applicable federal and New York city and state income tax rates).
If the Investment Advisory Agreement is terminated prior to the termination of the Company (other than the Investment Adviser voluntarily terminating the agreement), the Company will pay to the Investment Adviser a final Incentive Fee payment (the “Final Incentive Fee Payment”). The Final Incentive Fee Payment will be calculated as of the date the Investment Advisory Agreement is terminated and will equal the amount of Incentive Fee that would be payable to the Investment Adviser if (a) all investments were liquidated for their current value (but without taking into account any unrealized appreciation of any Investment), and any unamortized deferred Investment-related fees would be deemed accelerated, (b) the proceeds from such liquidation were used to pay all of the Company’s outstanding liabilities, and (c) the remainder was distributed to Unitholders and paid as Incentive Fee in accordance with the Incentive Fee waterfall described above for determining the amount of the Incentive Fee, subject to the Incentive Fee Cap. The Company will make the Final Incentive Fee Payment in cash on or immediately following the date the Investment Advisory Agreement is so terminated. The Investment Adviser Reimbursement Obligation will be determined as of the date of the termination of the Investment Advisory Agreement for purposes of the Final Incentive Fee Payment. For the three and six months ended June 30, 2023, the Company accrued unvested Incentive Fees of $7,555 and $8,918. As of June 30, 2023, $42,029 remained payable in accordance with the terms of the Investment Advisory Agreement. For the three and six months ended June 30, 2022, the Company accrued unvested Incentive Fees of $2,352 and $6,345. Expense Limitation Pursuant to the Investment Advisory Agreement, Company expenses borne by the Company in the ordinary course on an annual basis (excluding Management Fee, Incentive Fee, organizational and start-up expenses and leverage-related expenses) will not exceed an amount equal to 0.5% of the aggregate amount of commitments to the Company by holders of its common Units; provided, however, that expenses incurred outside of the ordinary course, including litigation and similar expenses, are not subject to such cap. For the three and six months ended June 30, 2023 and June 30, 2022, there have been no reimbursements from the Investment Adviser pursuant to this provision. Administration and Custodian Fees The Company has entered into an administration agreement with State Street Bank and Trust Company (the “Administrator”) under which the Administrator provides various accounting and administrative services to the Company. The Company pays the Administrator fees for its services as it determines to be commercially reasonable in its sole discretion. The Company also reimburses the Administrator for all reasonable expenses. To the extent that the Administrator outsources any of its functions, the Administrator pays any compensation associated with such functions. The Administrator also serves as the Company’s custodian (the “Custodian”). For the three and six months ended June 30, 2023, the Company incurred expenses for services provided by the Administrator and the Custodian of $412 and $825. As of June 30, 2023, $389 remained payable. For the three and six months ended June 30, 2022, the Company incurred expenses for services provided by the Administrator and the Custodian of $357 and $706. Transfer Agent Fees State Street Bank and Trust Company serves as the Company’s transfer agent (“Transfer Agent”), registrar and disbursing agent. For the three and six months ended June 30, 2023, the Company incurred expenses for services provided by the Transfer Agent of $21 and $56. As of June 30, 2023, $20 remained payable. For the three and six months ended June 30, 2022, the Company incurred expenses for services provided by the Transfer Agent of $35 and $61. Affiliates The table below presents the Company’s affiliated investments:
(1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category. Due to Affiliates The Investment Adviser pays certain general and administrative expenses on behalf of the Company in the ordinary course of business. As of June 30, 2023 and December 31, 2022, there were $201 and $206, respectively, included within Accrued expenses and other liabilities that were paid by the Investment Adviser and its affiliates on behalf of the Company. Co-Investment Activity In certain circumstances, the Company can make negotiated co-investments pursuant to an order from the SEC permitting it to do so. On November 16, 2022, the SEC granted to the Investment Adviser, the BDCs advised by the Investment Adviser and certain other affiliated applicants exemptive relief on which the Company expects to rely to co-invest alongside certain other client accounts managed by the Investment Adviser (collectively with the Company, the “Accounts”), which may include proprietary accounts of Goldman Sachs, in a manner consistent with the Company’s investment objectives and strategies, certain Board-established criteria, the conditions of such exemptive relief and other pertinent factors (the “Relief”). Additionally, if the Investment Adviser forms other funds in the future, the Company may co-invest alongside such other affiliates, subject to compliance with the Relief, applicable regulations and regulatory guidance, as well as applicable allocation procedures. As a result of the Relief, there could be significant overlap in the Company’s investment portfolio and the investment portfolios of other Accounts, including, in some cases, proprietary accounts of Goldman Sachs. The Goldman Sachs Asset Management Private Credit Team is composed of investment professionals dedicated to the Company’s investment strategy and to other funds that share a similar investment strategy with the Company. The Goldman Sachs Asset Management Private Credit Team is responsible for identifying investment opportunities, conducting research and due diligence on prospective investments, negotiating and structuring the Company’s investments and monitoring and servicing the Company’s investments. The team works together with investment professionals who are primarily focused on investment strategies in syndicated, liquid credit. Under the terms of the Relief, a “required majority” (as defined in Section 57(o) of the Investment Company Act) of the Company’s independent directors must make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the proposed transaction are reasonable and fair to the Company and the Company’s Unitholders and do not involve overreaching in respect of the Company or its Unitholders on the part of any person concerned, and (2) the transaction is consistent with the interests of the Company’s Unitholders and is consistent with the then-current investment objectives and strategies of the Company.
In addition, the Company has filed an application to amend the Relief to permit the Company to participate in follow-on investments in the Company’s existing portfolio companies with certain affiliates covered by the Relief if such affiliates, that are not BDCs or registered investment companies, did not have an investment in such existing portfolio company. There can be no assurance if and when the Company will receive the amended exemptive order. |
Investments |
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Investments, All Other Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments | 4. INVESTMENTS
The Company’s investments (excluding investments in money market funds, if any) consisted of the following:
The industry composition of the Company’s investments at fair value and net assets was as follows:
The geographic composition of the Company’s investments at fair value was as follows:
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Fair Value Measurement |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurement | 5. FAIR VALUE MEASUREMENT The fair value of a financial instrument is the amount that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). The fair value hierarchy under ASC 820 prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these securities. The three levels of the fair value hierarchy are as follows: Basis of Fair Value Measurement Level 1 – Inputs to the valuation methodology are quoted prices available in active markets for identical instruments as of the reporting date. The types of financial instruments included in Level 1 include unrestricted securities, including equities and derivatives, listed in active markets. Level 2 – Inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date. The types of financial instruments in this category include less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities and certain over-the-counter derivatives where the fair value is based on observable inputs. Level 3 – Inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category include investments in privately held entities and certain over-the-counter derivatives where the fair value is based on unobservable inputs. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Note 2 “Significant Accounting Policies” should be read in conjunction with the information outlined below.
The table below presents the valuation techniques and the nature of significant inputs generally used in determining the fair value of Level 2 and Level 3 Instruments.
The tables below present the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of June 30, 2023 and December 31, 2022. These ranges represent the significant unobservable inputs that were used in the valuation of each type of instrument, but they do not represent a range of values for any one instrument. For example, the lowest discount rate in 1st Lien/Senior Secured Debt is appropriate for valuing that specific debt investment but may not be appropriate for valuing any other debt investments in this asset class. Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 assets.
(1) As of June 30, 2023, included within Level 3 assets of $2,576,884 is an amount of $52,657 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $2,459,885 or 97.7% of Level 3 bank loans, corporate debt, and other debt obligations. (2) As of December 31, 2022, included within Level 3 assets of $2,578,920 is an amount of $77,513 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $2,413,407 or 95.6% of Level 3 bank loans, corporate debt, and other debt obligations. (3) The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques. (4) The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. (5) Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment. (6) Enterprise value of portfolio company as a multiple of earnings before interest, taxes, depreciation and amortization (“EBITDA”).
As noted above, the income and market approaches were used in the determination of fair value of certain Level 3 assets as of June 30, 2023 and December 31, 2022. The significant unobservable inputs used in the income approach are the discount rate or market yield used to discount the estimated future cash flows expected to be received from the underlying investment, which include both future principal and interest payments. An increase in the discount rate or market yield would result in a decrease in the fair value. Included in the consideration and selection of discount rates or market yields is risk of default, rating of the investment, call provisions and comparable company investments. The significant unobservable inputs used in the market approach are based on market comparable transactions and market multiples of publicly traded comparable companies. Increases or decreases in market comparable transactions or market multiples would result in an increase or decrease in the fair value.
The following is a summary of the Company’s assets categorized within the fair value hierarchy:
The below table presents a summary of changes in fair value of Level 3 assets by investment type:
(1) Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments. (2) Transfers in (out) of Level 3 are due to a decrease (increase) in the quantity and reliability of broker quotes obtained by the Investment Adviser.
Debt Not Carried at Fair Value The fair value of the Company’s debt, which would have been categorized as Level 3 within the fair value hierarchy as of June 30, 2023 and December 31, 2022, approximates its carrying value because the Revolving Credit Facilities have variable interest based on selected short-term rates. |
Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Text Block] | 6. DEBT On May 2, 2019, the Initial Member approved the application of the reduced asset coverage requirements in Section 61(a)(2) of the Investment Company Act to the Company and such election became effective the following day. As a result of this approval, the Company is currently allowed to borrow amounts such that its asset coverage ratio, as defined in the Investment Company Act, is at least 150% after such borrowing (if certain requirements are met). As of June 30, 2023 and December 31, 2022, the Company’s asset coverage ratio based on the aggregate amount outstanding of senior securities was 184% and 185%. The Company’s outstanding debt was as follows:
(1) Provides, under certain circumstances, a total borrowing capacity of $50,050. (2) Provides, under certain circumstances, a total borrowing capacity of $2,000,000. The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of June 30, 2023, the Company had outstanding borrowings denominated in USD of $1,445,500 in Canadian Dollars (CAD) of 150 and in British Pound (GBP) of 16,200. As of December 31, 2022, the Company had outstanding borrowings denominated in USD of $1,445,500, in Canadian Dollars (CAD) of 150 and in British Pound (GBP) of 16,200. The combined weighted average interest rates of the aggregate borrowings outstanding for the six months ended June 30, 2023 and for the year ended December 31, 2022 were 7.57% and 4.57%. The combined weighted average debt of the aggregate borrowings outstanding for the six months ended June 30, 2023 and for the year ended December 31, 2022 was $1,500,702 and $1,529,965. MUFG Revolving Credit Facility The Company entered into the MUFG Revolving Credit Facility on May 7, 2019 with MUFG Bank Ltd., as administrative agent (the “Administrative Agent”), lead arranger, letter of credit issuer and lender. The Company amended the MUFG Revolving Credit Facility on numerous occasions between July 31, 2019 and May 4, 2023. Subject to availability under the “Borrowing Base,” the maximum principal amount of the MUFG Revolving Credit Facility was $50,050 as of June 30, 2023. The Borrowing Base is calculated based on the unfunded capital commitments of the investors meeting various eligibility requirements (subject to investor concentration limits) multiplied by specified advance rates. The stated maturity date of the MUFG Revolving Credit Facility is November 3, 2023, which may be extended by the Company exercising its committed 6-month extension option. Proceeds from the MUFG Revolving Credit Facility may be used for investments, working capital, expenses and general corporate purposes (including to pay dividends or distributions). Under the MUFG Revolving Credit Facility, the Company has the ability to elect, for loans denominated in U.S. Dollars, either Term SOFR with a one-, three- or, if available, six-month tenor or the alternative base rate at the time of draw-down (and with respect to loans denominated in non-U.S. Dollar currencies, the applicable benchmark specified in the MUFG Revolving Credit Facility), and loans denominated in U.S. Dollars may be converted from one rate to another at any time, subject to certain conditions. The interest rate on obligations under the MUFG Revolving Credit Facility is (A) Term Loan plus a credit adjustment spread for the applicable tenor (or other listed offered rate, depending upon the currency of borrowing) plus 2.75% per annum or (B) an alternative base rate (the greatest of the prime rate set by MUFG Bank, Ltd., the federal funds rate plus 0.50%, and Term SOFR with a one-month tenor plus 1.00% (“ABR”)) plus 1.75% per annum. The Company pays a 0.35% annualized fee on a quarterly basis on committed but undrawn amounts under the MUFG Revolving Credit Facility. Amounts drawn under the MUFG Revolving Credit Facility may be prepaid at any time without premium or penalty, subject to applicable breakage costs. Loans are subject to mandatory prepayment for amounts exceeding the Borrowing Base or the lenders’ aggregate commitment and to the extent required to comply with the Investment Company Act, as applied to BDCs. Transfers of interests in the Company by investors are subject to certain restrictions under the MUFG Revolving Credit Facility. In addition, any transfer of Units from a Unitholder whose undrawn commitments are included in the Borrowing Base to a Unitholder that is not eligible to be included in the Borrowing Base (or that is eligible to be included in the Borrowing Base at a lower advance rate) may trigger mandatory prepayment obligations.
The MUFG Revolving Credit Facility is secured by a perfected first priority security interest in the unfunded capital commitments of the Company’s investors (with certain exceptions) and the proceeds thereof, including an assignment of the right to make capital calls, receive and apply capital contributions, and enforce remedies and claims related thereto, and a pledge of the collateral account into which capital call proceeds are deposited. Additionally, under the MUFG Revolving Credit Facility, in certain circumstances after an event of default, the Administrative Agent will be able to require investors to fund their capital commitments directly to the Administrative Agent for the purposes of repaying the loans, but lenders cannot seek recourse against a Unitholder in excess of such Unitholder’s obligation to contribute capital to the Company. The MUFG Revolving Credit Facility contains customary representations, warranties, and affirmative and negative covenants, including without limitation, representations and covenants regarding treatment as a RIC under the Code and as a BDC under the Investment Company Act and restrictions on the Company’s ability to make certain distributions, to incur additional indebtedness, to incur any liens on the collateral and to permit certain transfers of Unitholders’ ownership interest in the Units. The MUFG Revolving Credit Facility includes customary conditions precedent to the draw-down of loans and customary events of default. As of June 30, 2023, the Company was in compliance with these covenants. Costs of $5,968 were incurred in connection with obtaining and amending the MUFG Revolving Credit Facility and exercising its right under the accordion feature, which have been recorded as deferred financing costs in the Consolidated Statements of Financial Condition and are being amortized over the life of the MUFG Revolving Credit Facility using the straight-line method. As of June 30, 2023 and December 31, 2022, outstanding deferred financing costs were $284 and $263.
The below table presents the summary information of the MUFG Revolving Credit Facility:
JPM Revolving Credit Facility On September 24, 2020, SPV entered into the JPM Revolving Credit Facility. JPMorgan Chase Bank, National Association (“JPM”) serves as administrative agent, U.S. Bank Trust Company, National Association serves as collateral agent and collateral administrator, U.S. Bank National Association serves as securities intermediary and the Company serves as portfolio manager under the JPM Revolving Credit Facility. The Company amended the JPM Revolving Credit Facility numerous occasions between February 12, 2021 and February 15, 2022. Borrowings under the JPM Revolving Credit Facility bear interest (at SPV’s election) at a per annum rate equal to (x) Term SOFR (or the applicable benchmark for loans denominated in non-U.S. Dollar currencies) plus a credit spread adjustment of 0.15% (or other listed offered rate, depending upon the currency of borrowing) in effect and, (y) to the extent Term SOFR is unavailable, a rate per annum equal to the greater of (i) the prime rate of JPM in effect on such day and (ii) the Federal Funds Effective Rate in effect on such day plus 0.50%, in each case, plus the applicable margin. The applicable margin is 2.75% per annum, after giving effect to the amendment dated February 15, 2022. SPV will also pay a commitment fee of 0.75% per annum on the average daily unused amount of the financing commitments until the last day of the reinvestment period (as defined in the JPM Revolving Credit Facility). The JPM Revolving Credit Facility is a multicurrency facility. As of June 30, 2023, the total commitments under the JPM Revolving Credit Facility were $1,650,000. The JPM Revolving Credit Facility also has an accordion feature, subject to the satisfaction of various conditions, which could bring total commitments under the JPM Revolving Credit Facility to $2,000,000. All amounts outstanding under the JPM Revolving Credit Facility must be repaid by the fifth anniversary of the JPM Revolving Credit Facility, subject to a six-month extension of the maturity date with the consent of the administrative agent at such time. SPV’s obligations to the lenders under the JPM Revolving Credit Facility are secured by a first priority security interest in all of SPV’s portfolio of investments and cash. The obligations of SPV under the JPM Revolving Credit Facility are non-recourse to the Company, and the Company’s exposure under the JPM Revolving Credit Facility is limited to the value of the Company’s investment in SPV. In connection with the JPM Revolving Credit Facility, SPV has made certain customary representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar facilities. The JPM Revolving Credit Facility contains customary events of default for similar financing transactions, including if a change of control of SPV occurs or if the Company is no longer the portfolio manager of SPV. Upon the occurrence and during the continuation of an event of default, JPM may declare the outstanding advances and all other obligations under the JPM Revolving Credit Facility immediately due and payable. As of June 30, 2023, the Company was in compliance with these covenants. Costs of $10,797 were incurred in connection with obtaining the JPM Revolving Credit Facility, which have been recorded as deferred financing costs in the Consolidated Statements of Financial Condition and are being amortized over the life of the JPM Revolving Credit Facility using the straight-line method. As of June 30, 2023 and December 31, 2022, outstanding deferred financing costs were $5,691 and $6,952. The below table presents the summary information of the JPM Revolving Credit Facility:
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies | 7. COMMITMENTS AND CONTINGENCIES Capital Commitments The Company had aggregate capital commitments and undrawn capital commitments from investors as follows:
Portfolio Company Commitments The Company may enter into investment commitments to fund investments through signed commitment letters. In many circumstances, borrower acceptance and final terms are subject to transaction-related contingencies. These are disclosed as commitments upon execution of a final agreement. As of June 30, 2023, the Company believed that it had adequate financial resources to satisfy its unfunded commitments. The Company had the following unfunded commitments by investment types:
(1) Unfunded commitments denominated in currencies other than USD have been converted to USD using the exchange rate as of the applicable reporting date. Contingencies In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. Currently, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications. |
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Members' Capital | 8. MEMBERS’ CAPITAL Capital Drawdowns The following table summarizes the Total Units issued and proceeds related to capital drawdowns
Distributions The following table reflects the distributions declared on the Company’s common Units:
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Earnings Per Unit | 9. EARNINGS PER UNIT The following information sets forth the computation of basic and diluted earnings per unit:
Diluted earnings per unit equal basic earnings per unit because there were no common unit equivalents outstanding during the period presented. |
Financial Highlights |
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Financial Highlights | 10. FINANCIAL HIGHLIGHTS The below table presents the schedule of financial highlights of the Company:
(1) The per unit data was derived by using the weighted average units outstanding during the applicable period, except for distributions declared, which reflects the actual amount of distributions declared per unit for the applicable period. (2) The amount shown may not correspond for the period as it includes the effect of the timing of capital drawdowns and distributions. (3) Calculated as the change in NAV per unit during the period plus dividends declared per unit, divided by the beginning NAV per unit. (4) Ratios are annualized, except for, as applicable, unvested Incentive Fees. |
Subsequent Events |
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Subsequent Events [Abstract] | |
Subsequent Events | 11. SUBSEQUENT EVENTS Subsequent events after the date of the Consolidated Statements of Financial Condition have been evaluated through the date the unaudited consolidated financial statements were issued. Other than the item discussed below, the Company has concluded that there is no impact requiring adjustment or disclosure in the consolidated financial statements. On August 2, 2023, the Board of Directors approved and authorized an extension of the investment period of the Company for an additional twelve-month period ending on September 26, 2024. |
Significant Accounting Policies (Policies) |
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Basis of Presentation | Basis of Presentation The Company’s functional currency is U.S. dollars (“USD”) and these consolidated financial statements have been prepared in that currency. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to Regulation S-X. This requires the Company to make certain estimates and assumptions that may affect the amounts reported in the consolidated financial statements and accompanying notes. These consolidated financial statements reflect normal and recurring adjustments that in the opinion of the Company are necessary for the fair statement of the results for the periods presented. Actual results may differ from the estimates and assumptions included in the consolidated financial statements. Certain financial information that is included in annual consolidated financial statements, including certain financial statement disclosures, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes related thereto for the year ended December 31, 2022, included in the Company’s annual report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 2, 2023. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year, any other interim period, or any future year or period. As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”). |
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Basis of Consolidation | Basis of Consolidation As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the financial position and results of operations of its wholly owned subsidiaries, PMMC II Blocker III LLC, Goldman Sachs Private Middle Market Credit II SPV II LLC (“SPV”), PMMC II Blocker IV LLC, PMMC II Blocker V LLC and PMMC II Blocker VI LLC. All significant intercompany transactions and balances have been eliminated in consolidation. |
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Revenue Recognition | Revenue Recognition The Company records its investment transactions on a trade date basis, which is the date when the Company assumes the risks for gains and losses related to that instrument. Realized gains and losses are based on the specific identification method. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Discounts and premiums to par value on investments purchased are accreted and amortized into interest income over the life of the respective investment using the effective interest method. Loan origination fees, original issue discount (“OID”) and market discounts or premiums are capitalized and amortized into interest income using the effective interest method or straight-line method, as applicable. Exit fees that are receivable upon repayment of a loan or debt security are amortized into interest income over the life of the respective investment. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income, for which the Company has earned the following:
Fees received from portfolio companies (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) are paid to the Company, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, the Company only receives its allocable portion of such fees when invested in the same portfolio company as another Account (as defined below) managed by the Investment Adviser. Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any. Certain investments may have contractual payment-in-kind (“PIK”) interest or dividends. PIK represents accrued interest or accumulated dividends that are added to the principal amount or shares (if equity) of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest or dividend income, as applicable. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income. Certain structuring fees, amendment fees, syndication fees and commitment fees are recorded as other income when earned. Administrative agent fees received by the Company are recorded as other income when the services are rendered over time. |
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Non-Accrual Investments | Non-Accrual Investments Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. The Company may make exceptions to this treatment if an investment has sufficient collateral value and is in the process of collection. As of June 30, 2023, the Company had certain investments held in one portfolio company on non-accrual status, which represented 0.2% and 0.2% of total investments (excluding investments in money market funds, if any) at amortized cost and at fair value. As of December 31, 2022, the Company had certain investments held in one portfolio company on non-accrual status, which represented 1.5% and 1.3% of total investments (excluding investments in money market funds, if any) at amortized cost and at fair value. |
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Investments | Investments The Company carries its investments in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), issued by the FASB, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is generally based on quoted market prices provided by independent price sources. In the absence of quoted market prices, investments are measured at fair value as determined by the Investment Adviser, as the valuation designee ("Valuation Designee") designated by the Board of Directors, pursuant to Rule 2a-5 under the Investment Company Act. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See Note 5 “Fair Value Measurement”. The Company generally invests in illiquid securities, including debt and equity investments, of middle-market companies. The Board of Directors has designated to the Investment Adviser day-to-day responsibilities for implementing and maintaining internal controls and procedures related to the valuation of the Company’s portfolio investments. Under valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, market quotations are generally used to assess the value of the investments for which market quotations are readily available (as defined in Rule 2a-5). The Investment Adviser obtains these market quotations from independent pricing sources. If market quotations are not readily available, the Investment Adviser prices securities at the bid prices obtained from at least two brokers or dealers, if available; otherwise, the Investment Adviser obtains prices from a principal market maker or a primary market dealer. To assess the continuing appropriateness of pricing sources and methodologies, the Investment Adviser regularly performs price verification procedures and issues challenges as necessary to independent pricing sources or brokers, and any differences are reviewed in accordance with the valuation procedures. If the Valuation Designee believes any such market quotation does not reflect the fair value of an investment, it may independently value such investment in accordance with valuation procedures for investments for which market quotations are not readily available. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, the valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, contemplate a multi-step valuation process conducted by the Investment Adviser each quarter and more frequently as needed. As the Valuation Designee, the Investment Adviser is primarily responsible for the valuation of the Company’s assets, subject to the oversight of the Board of Directors, as described below: (1) The quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the valuation of the portfolio investment; (2) The Valuation Designee also engages independent valuation firms (the “Independent Valuation Advisors”) to provide independent valuations of the investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of an investment. The Independent Valuation Advisors independently value such investments using quantitative and qualitative information. The Independent Valuation Advisors also provide analyses to support their valuation methodology and calculations. The Independent Valuation Advisors provide an opinion on a final range of values on such investments to the Valuation Designee. The Independent Valuation Advisors define fair value in accordance with ASC 820 and utilize valuation approaches including the market approach, the income approach or both. A portion of the portfolio is reviewed on a quarterly basis, and all investments in the portfolio for which market quotations are not readily available, or are readily available, but deemed not reflective of the fair value of an investment, are reviewed at least annually by an Independent Valuation Advisor; (3) The Independent Valuation Advisors’ preliminary valuations are reviewed by the Investment Adviser and the Valuation Oversight Group (“VOG”), a team that is part of the controllers group of Goldman Sachs. The Independent Valuation Advisors’ valuation ranges are compared to the Investment Adviser’s valuations to ensure the Investment Adviser’s valuations are reasonable. VOG presents the valuations to the Asset Management Private Investment Valuation and Side Pocket Working Group of the Asset Management Valuation Committee (the “Asset Management Private Investment Valuation and Side Pocket Working Group”), which is comprised of a number of representatives from different functions and areas of expertise related to GSAM’s business and controls who are independent of the investment decision making process; (4) The Asset Management Private Investment Valuation and Side Pocket Working Group reviews and preliminarily approves the fair valuations and makes fair valuation recommendations to the Asset Management Valuation Committee; (5) Through the Asset Management Valuation Committee, the Valuation Designee discusses the valuations, provides written reports to the Board of Directors on at least a quarterly basis, and, within the meaning of the Investment Company Act, determines the fair value of the investments in good faith, based on the inputs of the Asset Management Valuation Committee, the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors.
The Asset Management Valuation Committee reviews the valuation information provided by the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. The Asset Management Valuation Committee then assesses such valuation recommendations; and |
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Money Market Funds | Money Market Funds Investments in money market funds are valued at net asset value (“NAV”) per share. See Note 3 “Significant Agreements and Related Party Transactions.” |
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Cash | Cash Cash consists of deposits held at a custodian bank. As of June 30, 2023 and December 31, 2022, the Company held $4,138 and $36,657 in cash. Foreign currency of $604 and $534 (acquisition cost of $601 and $544) is included in cash as of June 30, 2023 and December 31, 2022. |
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Foreign Currency Translation | Foreign Currency Translation Amounts denominated in foreign currencies are translated into USD on the following basis: (i) investments and other assets and liabilities denominated in foreign currencies are translated into USD based upon currency exchange rates effective on the last business day of the period; and (ii) purchases and sales of investments, borrowings and repayments of such borrowings, income, and expenses denominated in foreign currencies are translated into USD based upon currency exchange rates prevailing on the transaction dates. The Company does not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included within the net realized and unrealized gains or losses on investments. Fluctuations arising from the translation of non-investment assets and liabilities, if any, are included with the net change in unrealized gains (losses) on foreign currency translations in the Consolidated Statements of Operations. Foreign securities and currency translations may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices to be more volatile than those of comparable U.S. companies or U.S. government securities. |
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Income Taxes | Income Taxes The Company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The Company reports any interest expense related to income tax matters in income tax expense and any income tax penalties under expenses in the Consolidated Statements of Operations. The Company’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction, and based on such review, the Company has concluded that no additional provision for income tax is required in the consolidated financial statements. The Company is subject to potential examination by certain taxing authorities in various jurisdictions. The Company’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities. The Company has elected to be treated as a RIC commencing with its taxable year ended December 31, 2019. So long as the Company maintains its qualification for tax treatment as a RIC, it will generally not be required to pay corporate-level U.S. federal income tax on any ordinary income or capital gains that it distributes at least annually to its Unitholders as dividends. As a result, any U.S. federal income tax liability related to income earned and distributed by the Company represents obligations of the Company’s Unitholders and will not be reflected in the consolidated financial statements of the Company. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its Unitholders for each taxable year at least 90% of its investment company taxable income (generally, its net ordinary income plus the excess of its realized net short-term capital gains over realized net long-term capital losses, determined without regard to the dividends paid deduction). In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to Unitholders. The Company will accrue excise tax on estimated undistributed taxable income as required. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate level income taxes. Income tax expense, if any, is included under the income category for which it applies in the Consolidated Statements of Operations. |
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Distributions | Distributions Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. The Company may pay distributions in excess of its taxable net investment income. This excess would be a tax-free return of capital in the period and reduce the Unitholder’s tax basis in its Units. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to common Units or distributable earnings, as appropriate, in the period that the differences arise. Temporary and permanent differences are primarily attributable to differences in the tax treatment of certain loans and the tax characterization of income and non-deductible expenses. These differences are generally determined in conjunction with the preparation of the Company’s annual RIC tax return. Distributions to common Unitholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board of Directors each quarter and is generally based upon the earnings estimated by the Investment Adviser. The Company may pay distributions to its Unitholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Unitholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Unitholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods. |
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Deferred Financing Costs | Deferred Financing Costs Deferred financing costs consist of fees and expenses paid in connection with the closing of, and amendments to, the JPM Revolving Credit Facility and the revolving credit facility between the Company and MUFG Bank Ltd. (as amended, restated, supplemented or otherwise modified from time to time, the “MUFG Revolving Credit Facility” and together with the JPM Revolving Credit Facility, the “Revolving Credit Facilities”). These costs are amortized using the straight-line method over the respective terms of the Revolving Credit Facilities. Deferred financing costs related to the Revolving Credit Facilities are presented separately as an asset on the Company’s Consolidated Statements of Financial Condition. |
Significant Accounting Policies (Tables) |
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Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Interest Income | Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income, for which the Company has earned the following:
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Significant Agreements and Related Party Transactions (Tables) |
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Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Affiliated Investments | The table below presents the Company’s affiliated investments:
(1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. (2)
Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category. |
Investments (Tables) |
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Investments, All Other Investments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Investments Excluding Investments in Money Market Funds | The Company’s investments (excluding investments in money market funds, if any) consisted of the following:
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Schedule of Investments at Fair Value and Net Assets | The industry composition of the Company’s investments at fair value and net assets was as follows:
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Schedule of Geographic Composition of Investments at Fair Value | The geographic composition of the Company’s investments at fair value was as follows:
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Fair Value Measurement (Tables) |
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets | The tables below present the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of June 30, 2023 and December 31, 2022.
(1) As of June 30, 2023, included within Level 3 assets of $2,576,884 is an amount of $52,657 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $2,459,885 or 97.7% of Level 3 bank loans, corporate debt, and other debt obligations. (2) As of December 31, 2022, included within Level 3 assets of $2,578,920 is an amount of $77,513 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $2,413,407 or 95.6% of Level 3 bank loans, corporate debt, and other debt obligations. (3) The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques. (4) The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. (5) Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment. (6)
Enterprise value of portfolio company as a multiple of earnings before interest, taxes, depreciation and amortization (“EBITDA”). |
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Summary of Assets Categorized Within Fair Value Hierarchy | The following is a summary of the Company’s assets categorized within the fair value hierarchy:
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Summary of Changes in Fair Value of Level 3 Assets By Investment Type | The below table presents a summary of changes in fair value of Level 3 assets by investment type:
(1) Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments. (2)
Transfers in (out) of Level 3 are due to a decrease (increase) in the quantity and reliability of broker quotes obtained by the Investment Adviser. |
Debt (Tables) |
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Outstanding Debt | The Company’s outstanding debt was as follows:
(1) Provides, under certain circumstances, a total borrowing capacity of $50,050. (2)
Provides, under certain circumstances, a total borrowing capacity of $2,000,000. The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of June 30, 2023, the Company had outstanding borrowings denominated in USD of $1,445,500 in Canadian Dollars (CAD) of 150 and in British Pound (GBP) of 16,200. As of December 31, 2022, the Company had outstanding borrowings denominated in USD of $1,445,500, in Canadian Dollars (CAD) of 150 and in British Pound (GBP) of 16,200. |
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MUFG Revolving Credit Facility [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Revolving Credit Facility | The below table presents the summary information of the MUFG Revolving Credit Facility:
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JPM Revolving Credit Facility [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule Of Revolving Credit Facility | The below table presents the summary information of the JPM Revolving Credit Facility:
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Commitments and Contingencies (Tables) |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Aggregate Capital Commitments and Undrawn Capital Commitments | The Company had aggregate capital commitments and undrawn capital commitments from investors as follows:
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Schedule of Unfunded Commitments by Investment Types | The Company had the following unfunded commitments by investment types:
(1)
Unfunded commitments denominated in currencies other than USD have been converted to USD using the exchange rate as of the applicable reporting date. |
Members' Capital (Tables) |
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Members' Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Shares Issued and Proceeds Related to Capital Drawdowns | The following table summarizes the Total Units issued and proceeds related to capital drawdowns
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Schedule of Distributions Declared on Common Stock | The following table reflects the distributions declared on the Company’s common Units:
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Earnings Per Unit (Tables) |
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Basic and Diluted Earnings Per Unit | The following information sets forth the computation of basic and diluted earnings per unit:
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Financial Highlights (Tables) |
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Statement of Financial Position [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Financial Highlights of the Company | The below table presents the schedule of financial highlights of the Company:
(1) The per unit data was derived by using the weighted average units outstanding during the applicable period, except for distributions declared, which reflects the actual amount of distributions declared per unit for the applicable period. (2) The amount shown may not correspond for the period as it includes the effect of the timing of capital drawdowns and distributions. (3) Calculated as the change in NAV per unit during the period plus dividends declared per unit, divided by the beginning NAV per unit. (4)
Ratios are annualized, except for, as applicable, unvested Incentive Fees. |
Significant Accounting Policies - Schedule of Interest Income - (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Accounting Policies [Abstract] | ||||
Accelerated amortization of upfront loan origination fees and unamortized discounts | $ 231 | $ 80 | $ 389 | $ 188 |
Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2023 |
Dec. 31, 2022 |
|
Significant Accounting Policies [Line Items] | ||
Percentage of non-accrual investment at amortized cost | 0.20% | 1.50% |
Percentage of non-accrual investment at fair value | 0.20% | 1.30% |
Cash | $ 4,138 | $ 36,657 |
Foreign Currency [Member] | ||
Significant Accounting Policies [Line Items] | ||
Cash | 604 | 534 |
Acquisition cost | $ 601 | $ 544 |
Significant Agreements and Related Party Transactions - Additional Information (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
Related Party Transaction [Line Items] | |||||
Management fee percentage per quarter | 0.375% | ||||
Annual management fee percentage | 1.50% | ||||
Management fee | $ 4,683,000 | $ 3,954,000 | $ 9,316,000 | $ 7,705,000 | |
Management fees payable | 4,683,000 | 4,683,000 | $ 4,598,000 | ||
Accrual or payment of unvested incentive fees | 7,555,000 | 2,352,000 | 8,918,000 | 6,345,000 | |
Incentive fees payable | 42,029,000 | $ 42,029,000 | 33,111,000 | ||
Percentage of annual amount excluding fee and expense | 0.50% | ||||
Reimbursements | 0 | 0 | $ 0 | 0 | |
Incurred expenses for services provided by Administrator and Custodian fees | 412,000 | 357,000 | 825,000 | 706,000 | |
Administration and custodian fees payable | 389,000 | 389,000 | |||
Incurred expenses for services provided by transfer agent | 21,000 | $ 35,000 | 56,000 | $ 61,000 | |
Transfer agent fees payable | 20,000 | 20,000 | |||
Accrued Expenses And Other Liabilities | Related party member | |||||
Related Party Transaction [Line Items] | |||||
Other Liabilities | $ 201 | 201 | $ 206 | ||
First Incentive Fee [Member] | |||||
Related Party Transaction [Line Items] | |||||
Incentive fee if no excess income amount | 0 | ||||
Second Incentive Fee [Member] | |||||
Related Party Transaction [Line Items] | |||||
Incentive fee if no excess income amount | $ 0 | ||||
Incentive fee percentage for investment | 7.00% | ||||
Third Incentive Fee [Member] | |||||
Related Party Transaction [Line Items] | |||||
Cumulative incentive fee percentage for investment | 100.00% | ||||
Percentage of cumulative incentive fee for sum amount | 15.00% | ||||
Fourth Incentive Fee [Member] | |||||
Related Party Transaction [Line Items] | |||||
Proceeds for cumulative incentive fee percentage for sum amount | 15.00% |
Significant Agreements and Related Party Transactions - Schedule of Affiliated Investments (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2023 |
Dec. 31, 2022 |
|
Schedule of Investments [Line Items] | ||
Beginning Fair Value Balance | $ 2,648,197 | |
Ending Fair Value Balance | 2,672,222 | $ 2,648,197 |
Investment, Identifier [Axis]: Non-Controlled Affiliates | ||
Schedule of Investments [Line Items] | ||
Beginning Fair Value Balance | 133,207 | |
Gross Additions | 252,096 | 813,713 |
Gross Reductions | (232,407) | (680,638) |
Net Change in Unrealized Appreciation (Depreciation) | 261 | 132 |
Ending Fair Value Balance | 153,157 | 133,207 |
Dividend, Interest and Other Income | 3,716 | 1,413 |
Investment, Identifier [Axis]: Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund | ||
Schedule of Investments [Line Items] | ||
Beginning Fair Value Balance | 122,499 | |
Gross Additions | 244,645 | 803,088 |
Gross Reductions | (232,357) | (680,589) |
Ending Fair Value Balance | 134,787 | 122,499 |
Dividend, Interest and Other Income | 3,129 | 920 |
Investment, Identifier [Axis]: Non-Controlled Affiliates Medeanalytics Inc | ||
Schedule of Investments [Line Items] | ||
Gross Additions | 6,075 | |
Ending Fair Value Balance | 6,075 | |
Investment, Identifier [Axis]: Non-Controlled Affiliates Southeast Mechanical LLC Dba SEM Holdings LLC | ||
Schedule of Investments [Line Items] | ||
Beginning Fair Value Balance | 10,708 | |
Gross Additions | 1,376 | 10,625 |
Gross Reductions | (50) | (49) |
Net Change in Unrealized Appreciation (Depreciation) | 261 | 132 |
Ending Fair Value Balance | 12,295 | 10,708 |
Dividend, Interest and Other Income | $ 587 | $ 493 |
Investments - Schedule of Investments Excluding Investments in Money Market Funds (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Schedule of Investments [Line Items] | ||
Cost | $ 2,718,545 | $ 2,702,569 |
Fair Value | 2,672,222 | 2,648,197 |
1st Lien/Senior Secured Debt | ||
Schedule of Investments [Line Items] | ||
Cost | 2,626,489 | 2,610,793 |
Fair Value | 2,579,587 | 2,561,708 |
1st Lien/Last-Out Unitranche | ||
Schedule of Investments [Line Items] | ||
Cost | 19,531 | 18,410 |
Fair Value | 19,326 | 18,243 |
2nd Lien/Senior Secured Debt | ||
Schedule of Investments [Line Items] | ||
Cost | 15,389 | 15,384 |
Fair Value | 8,476 | 9,246 |
Unsecured Debt | ||
Schedule of Investments [Line Items] | ||
Cost | 6,569 | 5,590 |
Fair Value | 6,566 | 5,552 |
Preferred Stock | ||
Schedule of Investments [Line Items] | ||
Cost | 37,905 | 39,730 |
Fair Value | 44,421 | 40,994 |
Common Stock | ||
Schedule of Investments [Line Items] | ||
Cost | 10,996 | 10,996 |
Fair Value | 13,440 | 11,903 |
Warrants | ||
Schedule of Investments [Line Items] | ||
Cost | 1,666 | 1,666 |
Fair Value | $ 406 | $ 551 |
Investments - Schedule of Investments at Fair Value and Net Assets (Details) |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Schedule of Investments [Line Items] | ||
Fair Value | 100.00% | 100.00% |
Net Assets | 211.40% | 213.40% |
Software | ||
Schedule of Investments [Line Items] | ||
Fair Value | 16.80% | 16.30% |
Net Assets | 35.70% | 34.60% |
Health Care Providers & Services | ||
Schedule of Investments [Line Items] | ||
Fair Value | 16.50% | 16.10% |
Net Assets | 34.80% | 34.40% |
Health Care Technology | ||
Schedule of Investments [Line Items] | ||
Fair Value | 10.90% | 12.00% |
Net Assets | 23.10% | 25.50% |
Diversified Financial Services | ||
Schedule of Investments [Line Items] | ||
Fair Value | 10.70% | 10.60% |
Net Assets | 22.50% | 22.70% |
Professional Services | ||
Schedule of Investments [Line Items] | ||
Fair Value | 10.50% | 10.50% |
Net Assets | 22.20% | 22.30% |
Real Estate Mgmt. & Development | ||
Schedule of Investments [Line Items] | ||
Fair Value | 6.50% | 6.50% |
Net Assets | 13.80% | 13.80% |
Diversified Consumer Services | ||
Schedule of Investments [Line Items] | ||
Fair Value | 5.50% | 5.50% |
Net Assets | 11.70% | 11.80% |
IT Services | ||
Schedule of Investments [Line Items] | ||
Fair Value | 4.10% | 4.10% |
Net Assets | 8.70% | 8.70% |
Commercial Services & Supplies | ||
Schedule of Investments [Line Items] | ||
Fair Value | 2.90% | 3.30% |
Net Assets | 6.00% | 7.00% |
Health Care Equipment & Supplies | ||
Schedule of Investments [Line Items] | ||
Fair Value | 2.40% | 2.40% |
Net Assets | 5.10% | 5.10% |
Entertainment | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.70% | 1.70% |
Net Assets | 3.70% | 3.70% |
Construction & Engineering | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.70% | 1.50% |
Net Assets | 3.50% | 3.30% |
Aerospace & Defense | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.50% | 1.50% |
Net Assets | 3.20% | 3.30% |
Independent Power and Renewable Electricity Producers | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.50% | 1.40% |
Net Assets | 3.10% | 3.00% |
Transportation Infrastructure | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.40% | 1.40% |
Net Assets | 2.90% | 3.00% |
Internet & Direct Marketing Retail | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.20% | 1.20% |
Net Assets | 2.60% | 2.60% |
Hotels, Restaurants & Leisure | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.20% | 1.20% |
Net Assets | 2.60% | 2.60% |
Trading Companies & Distributors | ||
Schedule of Investments [Line Items] | ||
Fair Value | 0.90% | 0.90% |
Net Assets | 1.90% | 2.00% |
Insurance | ||
Schedule of Investments [Line Items] | ||
Fair Value | 0.90% | 0.70% |
Net Assets | 1.90% | 1.50% |
Pharmaceuticals | ||
Schedule of Investments [Line Items] | ||
Fair Value | 0.60% | 0.60% |
Net Assets | 1.20% | 1.20% |
Chemicals | ||
Schedule of Investments [Line Items] | ||
Fair Value | 0.60% | 0.60% |
Net Assets | 1.20% | 1.30% |
Investments - Schedule of Geographic Composition of Investments at Fair Value (Details) |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Schedule of Investments [Line Items] | ||
Fair Value | 100.00% | 100.00% |
United States | ||
Schedule of Investments [Line Items] | ||
Fair Value | 96.80% | 97.00% |
Canada | ||
Schedule of Investments [Line Items] | ||
Fair Value | 2.20% | 2.20% |
United Kingdom | ||
Schedule of Investments [Line Items] | ||
Fair Value | 1.00% | 0.80% |
Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Details) $ in Thousands |
Jun. 30, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
---|---|---|
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 2,672,222 | $ 2,648,197 |
1st Lien/Senior Secured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 2,579,587 | 2,561,708 |
1st Lien/Last-Out Unitranche | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 19,326 | 18,243 |
2nd Lien/Senior Secured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 8,476 | 9,246 |
Unsecured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 6,566 | 5,552 |
Preferred Stock | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 44,421 | 40,994 |
Common Stock | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 13,440 | 11,903 |
Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 2,576,884 | 2,578,920 |
Level 3 | 1st Lien/Senior Secured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 2,492,725 | 2,501,677 |
Level 3 | 1st Lien/Last-Out Unitranche | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 19,326 | 18,243 |
Level 3 | Unsecured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 6,566 | 5,552 |
Level 3 | Preferred Stock | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 44,421 | 40,994 |
Level 3 | Common Stock | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 13,440 | 11,903 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 2,433,993 | $ 2,389,612 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Minimum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.092 | 0.078 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Maximum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.248 | 0.197 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.111 | 0.109 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 19,326 | $ 18,243 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.118 | 0.109 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 6,566 | $ 5,552 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.172 | 0.173 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 6,075 | $ 34,552 |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.5 | 2.3 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Minimum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Fair Value | $ 20,635 | $ 19,198 |
Equity, Range of Significant Unobservable Inputs | 14.1 | 14.4 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Maximum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Range of Significant Unobservable Inputs | 33.6 | 29.7 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Range of Significant Unobservable Inputs | 28.4 | 27.1 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Minimum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Fair Value | $ 10,125 | $ 9,138 |
Equity, Range of Significant Unobservable Inputs | 9.3 | 9.1 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Maximum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Range of Significant Unobservable Inputs | 19 | 18.3 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Range of Significant Unobservable Inputs | 13.5 | 13.9 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants, Fair Value | $ 406 | $ 551 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants, Range of Significant Unobservable Inputs | 3.8 | 4 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Preferred Stock | Minimum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Fair Value | $ 23,786 | $ 21,796 |
Equity, Range of Significant Unobservable Inputs | 3.8 | 4 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Preferred Stock | Maximum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Range of Significant Unobservable Inputs | 4.5 | 7.3 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Preferred Stock | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Range of Significant Unobservable Inputs | 4 | 4.6 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Common Stock | Minimum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Fair Value | $ 3,315 | $ 2,765 |
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Common Stock | Weighted Average | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Equity, Range of Significant Unobservable Inputs | 15.5 | 15.2 |
Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Parenthetical) (Details) $ in Thousands |
Jun. 30, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
---|---|---|
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 2,672,222 | $ 2,648,197 |
Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 2,576,884 | 2,578,920 |
Income Approach | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 2,459,885 | $ 2,413,407 |
Fair value of debt investments percentage using income approach | 0.977 | 0.956 |
Investment Adviser did not Develop Unobservable Inputs | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 52,657 | $ 77,513 |
Fair Value Measurement - Summary of Assets Categorized Within Fair Value Hierarchy (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument at fair value | $ 2,807,009 | $ 2,770,696 |
Debt investments, Fair Value | 2,672,222 | 2,648,197 |
1st Lien/Senior Secured Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 2,579,587 | 2,561,708 |
1st Lien/Last-Out Unitranche | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 19,326 | 18,243 |
2nd Lien/Senior Secured Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 8,476 | 9,246 |
Unsecured Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 6,566 | 5,552 |
Preferred Stock | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 44,421 | 40,994 |
Common Stock | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 13,440 | 11,903 |
Warrants | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 406 | 551 |
Investments in Affiliated Money Market Fund | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 134,787 | 122,499 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 134,787 | 122,499 |
Level 1 | Investments in Affiliated Money Market Fund | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 134,787 | 122,499 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 95,338 | 69,277 |
Level 2 | 1st Lien/Senior Secured Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 86,862 | 60,031 |
Level 2 | 2nd Lien/Senior Secured Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 8,476 | 9,246 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 2,576,884 | 2,578,920 |
Level 3 | 1st Lien/Senior Secured Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 2,492,725 | 2,501,677 |
Level 3 | 1st Lien/Last-Out Unitranche | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 19,326 | 18,243 |
Level 3 | Unsecured Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 6,566 | 5,552 |
Level 3 | Preferred Stock | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 44,421 | 40,994 |
Level 3 | Common Stock | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | 13,440 | 11,903 |
Level 3 | Warrants | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt investments, Fair Value | $ 406 | $ 551 |
Fair Value Measurement - Summary of Changes in Fair Value of Level 3 Assets By Investment Type (Details) - Level 3 - USD ($) $ in Thousands |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
|||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Beginning Balance | $ 2,578,920 | $ 2,236,293 | ||||
Purchases | [1] | 106,331 | 411,080 | |||
Net Realized Gain (Loss) | (37,352) | (5,325) | ||||
Net Change in Unrealized Appreciation (Depreciation) | 8,101 | (14,108) | ||||
Sales and Settlements | [1] | (59,579) | (67,097) | |||
Net Amortization of Premium/Discount | 4,967 | 4,457 | ||||
Transfers In | [2] | 14,588 | ||||
Transfers Out | [2] | (24,504) | ||||
Ending Balance | 2,576,884 | 2,579,888 | ||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | (1,805) | (21,699) | ||||
1st Lien/Senior Secured Debt | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Beginning Balance | 2,501,677 | 2,183,501 | ||||
Purchases | [1] | 104,267 | 404,048 | |||
Net Realized Gain (Loss) | (35,527) | (5,325) | ||||
Net Change in Unrealized Appreciation (Depreciation) | 1,460 | (8,672) | ||||
Sales and Settlements | [1] | (59,579) | (67,097) | |||
Net Amortization of Premium/Discount | 4,931 | 4,453 | ||||
Transfers Out | [2] | (24,504) | ||||
Ending Balance | 2,492,725 | 2,510,908 | ||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | (6,621) | (16,263) | ||||
1st Lien/Last-Out Unitranche | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Beginning Balance | 18,243 | |||||
Purchases | [1] | 1,083 | ||||
Net Change in Unrealized Appreciation (Depreciation) | (38) | |||||
Net Amortization of Premium/Discount | 38 | |||||
Ending Balance | 19,326 | |||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | (39) | |||||
2nd Lien/Senior Secured Debt | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Net Change in Unrealized Appreciation (Depreciation) | (1,493) | |||||
Net Amortization of Premium/Discount | 4 | |||||
Transfers In | [2] | 14,588 | ||||
Ending Balance | 13,099 | |||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | (1,493) | |||||
Unsecured Debt | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Beginning Balance | 5,552 | |||||
Purchases | [1] | 981 | 5,580 | |||
Net Change in Unrealized Appreciation (Depreciation) | 35 | |||||
Net Amortization of Premium/Discount | (2) | |||||
Ending Balance | 6,566 | 5,580 | ||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | 36 | |||||
Preferred Stock | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Beginning Balance | 40,994 | 40,782 | ||||
Net Realized Gain (Loss) | (1,825) | |||||
Net Change in Unrealized Appreciation (Depreciation) | 5,252 | (1,927) | ||||
Ending Balance | 44,421 | 38,855 | ||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | 3,427 | (1,927) | ||||
Common Stock | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Beginning Balance | 11,903 | 10,343 | ||||
Purchases | [1] | 1,452 | ||||
Net Change in Unrealized Appreciation (Depreciation) | 1,537 | (1,017) | ||||
Ending Balance | 13,440 | 10,778 | ||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | 1,537 | (1,017) | ||||
Warrants | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Beginning Balance | 551 | 1,667 | ||||
Net Change in Unrealized Appreciation (Depreciation) | (145) | (999) | ||||
Ending Balance | 406 | 668 | ||||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | $ (145) | $ (999) | ||||
|
Debt - Additional Information (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|---|
Mar. 02, 2019 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|||
Line of Credit Facility [Line Items] | ||||||||
Debt, Current borrowing capacity | $ 1,700,050 | $ 1,700,050 | $ 1,741,000 | |||||
Revolving Credit Facility [Member] | Minimum [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Asset coverage ratio | 150.00% | |||||||
MUFG Revolving Credit Facility [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Average outstanding balance | 47,901 | $ 278,363 | 35,133 | $ 285,144 | ||||
Maximum Principal amount | 50,050 | $ 50,050 | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||||
Commitment Fee Percentage | 0.35% | |||||||
Line of credit facility, amount | 5,968 | $ 5,968 | ||||||
Debt, Current borrowing capacity | [1] | 50,050 | 50,050 | 91,000 | ||||
Outstanding Deferred Financing Costs | 284 | $ 284 | 263 | |||||
Revolving Credit Facility Interest Rate Description | Under the MUFG Revolving Credit Facility, the Company has the ability to elect, for loans denominated in U.S. Dollars, either Term SOFR with a one-, three- or, if available, six-month tenor or the alternative base rate at the time of draw-down (and with respect to loans denominated in non-U.S. Dollar currencies, the applicable benchmark specified in the MUFG Revolving Credit Facility), and loans denominated in U.S. Dollars may be converted from one rate to another at any time, subject to certain conditions. The interest rate on obligations under the MUFG Revolving Credit Facility is (A) Term Loan plus a credit adjustment spread for the applicable tenor (or other listed offered rate, depending upon the currency of borrowing) plus 2.75% per annum or (B) an alternative base rate (the greatest of the prime rate set by MUFG Bank, Ltd., the federal funds rate plus 0.50%, and Term SOFR with a one-month tenor plus 1.00% (“ABR”)) plus 1.75% per annum. The Company pays a 0.35% annualized fee on a quarterly basis on committed but undrawn amounts under the MUFG Revolving Credit Facility. | |||||||
MUFG Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||
MUFG Revolving Credit Facility [Member] | SOFR [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Interest rate terms | (the greatest of the prime rate set by MUFG Bank, Ltd., the federal funds rate plus 0.50%, and Term SOFR with a one-month tenor plus 1.00% (“ABR”)) | |||||||
Debt Instrument Interest Rate During Period | 1.75% | |||||||
JPM Revolving Credit Facility [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Average outstanding balance | 1,465,840 | $ 1,260,324 | $ 1,465,569 | $ 1,196,973 | ||||
Commitment Fee Percentage | 0.75% | |||||||
Line of credit facility, amount | 10,797 | $ 10,797 | ||||||
Revolving Credit Facility Interest Rate Description | Borrowings under the JPM Revolving Credit Facility bear interest (at SPV’s election) at a per annum rate equal to (x) Term SOFR (or the applicable benchmark for loans denominated in non-U.S. Dollar currencies) plus a credit spread adjustment of 0.15% (or other listed offered rate, depending upon the currency of borrowing) in effect and, (y) to the extent Term SOFR is unavailable, a rate per annum equal to the greater of (i) the prime rate of JPM in effect on such day and (ii) the Federal Funds Effective Rate in effect on such day plus 0.50%, in each case, plus the applicable margin. The applicable margin is 2.75% per annum, after giving effect to the amendment dated February 15, 2022. SPV will also pay a commitment fee of 0.75% per annum on the average daily unused amount of the financing commitments until the last day of the reinvestment period (as defined in the JPM Revolving Credit Facility). The JPM Revolving Credit Facility is a multicurrency facility. As of June 30, 2023, the total commitments under the JPM Revolving Credit Facility were $1,650,000. The JPM Revolving Credit Facility also has an accordion feature, subject to the satisfaction of various conditions, which could bring total commitments under the JPM Revolving Credit Facility to $2,000,000. All amounts outstanding under the JPM Revolving Credit Facility must be repaid by the fifth anniversary of the JPM Revolving Credit Facility, subject to a six-month extension of the maturity date with the consent of the administrative agent at such time. | |||||||
Deferred financing costs | $ 5,691 | $ 5,691 | $ 6,952 | |||||
Applicable margin rate | 2.75% | |||||||
JPM Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||
JPM Revolving Credit Facility [Member] | SOFR [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.15% | |||||||
JPM Revolving Credit Facility [Member] | Maximum [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Average outstanding balance | $ 2,000,000 | |||||||
JPM Revolving Credit Facility [Member] | Minimum [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Average outstanding balance | $ 1,650,000 | |||||||
Debt [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Assets Coverage Ratio Requirement Description | Investment Company Act, is at least 150% after such borrowing (if certain requirements are met). As of June 30, 2023 and December 31, 2022, the Company’s asset coverage ratio based on the aggregate amount outstanding of senior securities was 184% and 185%. | |||||||
Asset coverage ratio | 184.00% | 184.00% | 185.00% | |||||
Weighted average interest rates | 7.57% | 4.57% | ||||||
Average outstanding balance | $ 1,500,702 | $ 1,529,965 | ||||||
Debt [Member] | MUFG Revolving Credit Facility [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Maximum borrowing capacity | $ 50,050 | $ 50,050 | ||||||
|
Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
||||
---|---|---|---|---|---|---|
Line of Credit Facility [Line Items] | ||||||
Aggregate Borrowing Amount Committed | $ 1,700,050 | $ 1,741,000 | ||||
Amount Available | 199,271 | 275,721 | ||||
Carrying Value | 1,501,687 | 1,465,196 | ||||
MUFG Revolving Credit Facility [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Aggregate Borrowing Amount Committed | [1] | 50,050 | 91,000 | |||
Amount Available | [1] | 14,550 | 91,000 | |||
Carrying Value | [1] | 35,500 | ||||
JPM Revolving Credit Facility [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Aggregate Borrowing Amount Committed | [2] | 1,650,000 | 1,650,000 | |||
Amount Available | [2] | 184,721 | 184,721 | |||
Carrying Value | [2] | $ 1,466,187 | $ 1,465,196 | |||
|
Debt - Schedule of Outstanding Debt (Parenthetical) (Details) - Debt [Member] £ in Thousands, $ in Thousands, $ in Thousands |
6 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2023
CAD ($)
|
Jun. 30, 2023
GBP (£)
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2022
CAD ($)
|
Dec. 31, 2022
GBP (£)
|
|
MUFG Revolving Credit Facility [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Maximum borrowing capacity | $ 50,050 | |||||
JPM Revolving Credit Facility [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Maximum borrowing capacity | 2,000,000 | |||||
Outstanding borrowings | $ 1,445,500 | $ 150 | £ 16,200 | $ 1,445,500 | $ 150 | £ 16,200 |
Debt - Schedule of MUFG Revolving Credit Facility (Details) - MUFG Revolving Credit Facility [Member] $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2022
USD ($)
|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2022
USD ($)
|
|
Line of Credit Facility [Line Items] | ||||
Borrowing interest expense | $ 909 | $ 2,213 | $ 1,295 | $ 4,119 |
Facility fees | 16 | 4 | 105 | 4 |
Amortization of financing costs | 200 | 242 | 389 | 562 |
Total | $ 1,125 | $ 2,459 | $ 1,789 | $ 4,685 |
Weighted average interest rate | 0.0761 | 0.0319 | 0.0744 | 0.0291 |
Average outstanding balance | $ 47,901 | $ 278,363 | $ 35,133 | $ 285,144 |
Debt - Schedule of JPM Revolving Credit Facility (Details) - JPM Revolving Credit Facility [Member] $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2022
USD ($)
|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2022
USD ($)
|
|
Line of Credit Facility [Line Items] | ||||
Borrowing interest expense | $ 27,747 | $ 11,439 | $ 55,067 | $ 20,340 |
Facility Fees | 460 | 524 | 922 | 1,031 |
Amortization of financing costs | 634 | 570 | 1,261 | 1,085 |
Total | $ 28,841 | $ 12,533 | $ 57,250 | $ 22,456 |
Weighted average interest rate | 0.0759 | 0.0364 | 0.0758 | 0.0343 |
Average outstanding balance | $ 1,465,840 | $ 1,260,324 | $ 1,465,569 | $ 1,196,973 |
Commitments and Contingencies - Schedule of Aggregate Capital Commitments and Undrawn Capital Commitments (Details) - Common Stock - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2023 |
Dec. 31, 2022 |
|
Loss Contingencies [Line Items] | ||
Capital Commitments | $ 1,475,812 | $ 1,475,812 |
Unfunded Capital Commitments | $ 132,823 | $ 147,581 |
% of Capital Commitments Funded | 91.00% | 90.00% |
Commitments and Contingencies - Schedule of Unfunded Commitments by Investment Types (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | $ 322,773 | $ 353,450 |
1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 317,883 | 347,477 |
1st Lien/Last-Out Unitranche | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 4,890 | 5,973 |
1272775 B.C. LTD. (dba Everest Clinical Research) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 34 | 150 |
Abacus Data Holdings, Inc. (dba Clutch Intermediate Holdings) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 385 | 1,764 |
Acquia, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 425 | 796 |
Admiral Buyer, Inc. (dba Fidelity Payment Services) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 8,840 | 8,840 |
Apptio, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 538 | 308 |
AQ Helios Buyer, Inc. (dba SurePoint) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 5,395 | 8,020 |
Assembly Intermediate LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 8,381 | 6,785 |
Bigchange Group Limited | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,003 | 3,121 |
Broadway Technology, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,010 | 1,010 |
BSI3 Menu Buyer, Inc (dba Kydia) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,924 | 1,924 |
Bullhorn, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 693 | 374 |
Businessolver.com, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 4,141 | 4,141 |
Capitol Imaging Acquisition Corp. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 9,170 | 1,926 |
CFS Management, LLC (dba Center for Sight Management) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 618 | 618 |
Checkmate Finance Merger Sub, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 2,831 | 2,831 |
Chronicle Bidco Inc. (dba Lexitas) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 2,684 | 3,676 |
CivicPlus LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 912 | 1,112 |
Clearcourse Partnership Acquireco Finance Limited | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,137 | 3,730 |
CloudBees, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 665 | 665 |
Coding Solutions Acquisition, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 5,201 | 5,628 |
CorePower Yoga LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 633 | 422 |
DECA Dental Holdings LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 4,759 | 4,863 |
Diligent Corporation | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,821 | 2,452 |
Eptam Plastics, Ltd. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 136 | 1,228 |
ESO Solutions, Inc | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,317 | 3,292 |
Experity, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 2,332 | 3,023 |
Fullsteam Operations LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 41,398 | 2,761 |
Gainsight, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,380 | 4,830 |
GHA Buyer Inc. (dba Cedar Gate) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,749 | 1,749 |
GovDelivery Holdings, LLC (dba Granicus, Inc.) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,613 | 1,553 |
Governmentjobs.com, Inc. (dba NeoGov) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 15,914 | 17,506 |
GS AcquisitionCo, Inc. (dba Insightsoftware) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 609 | 914 |
HealthEdge Software, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 11,900 | 11,900 |
Helios Buyer, Inc. (dba Heartland) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 6,115 | 6,775 |
Honor HN Buyer, Inc | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 13,630 | 29,948 |
HS4 AcquisitionCo, Inc. (dba HotSchedules & Fourth) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 689 | 1,093 |
HumanState Limited (dba PayProp) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 470 | 447 |
iCIMS, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 12,416 | 13,789 |
Intelligent Medical Objects, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,360 | 3,821 |
Kaseya Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,706 | 2,020 |
MerchantWise Solutions, LLC (dba HungerRush) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 4,129 | 4,100 |
Millstone Medical Outsourcing, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,732 | 1,599 |
MRI Software LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 2,427 | 4,381 |
NFM & J, L.P. (dba the Facilities Group) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 4,125 | 5,455 |
One GI LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 38 | 3,284 |
PDDS Holdco, Inc. (dba Planet DDS) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 12,456 | 5,595 |
Pioneer Buyer I, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,900 | 3,900 |
Pluralsight, Inc | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 2,300 | 2,300 |
Premier Care Dental Management, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 2,769 | 3,268 |
Premier Imaging, LLC (dba Lucid Health) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 7,305 | 7,305 |
Project Eagle Holdings, LLC (dba Exostar) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,418 | 3,418 |
Prophix Software Inc. (dba Pound Bidco) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,118 | 3,118 |
Riverpoint Medical, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,625 | 1,806 |
Rodeo Buyer Company (dba Absorb Software) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,839 | 2,758 |
Rubrik,Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,027 | 2,118 |
Southeast Mechanical, LLC (dba. SEM Holdings, LLC) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 7,140 | 8,500 |
SpendMend, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 4,037 | 4,579 |
StarCompliance Intermediate, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,633 | 1,725 |
Sundance Group Holdings, Inc. (dba NetDocuments) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,434 | 4,479 |
Sunstar Insurance Group, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 17,228 | 21,687 |
Superman Holdings, LLC (dba Foundation Software) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 6,086 | 5,134 |
Sweep Purchaser LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 1,092 | 3,445 |
The Center for Orthopedic and Research Excellence, Inc. (dba HOPCo) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,187 | 3,365 |
Total Vision LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 7,800 | 9,548 |
USN Opco LLC (dba Global Nephrology Solutions) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 5,287 | 5,287 |
Volt Bidco, Inc. (dba Power Factors) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 4,068 | 6,000 |
VRC Companies, LLC (dba Vital Records Control) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 858 | 858 |
WebPT, Inc. | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 2,575 | 3,464 |
Wellness AcquisitionCo, Inc. (dba SPINS) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 6,100 | 6,100 |
Whitewater Holding Company LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,050 | 3,968 |
WorkForce Software, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 980 | 327 |
Zarya Intermediate, LLC (dba iOFFICE) | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 7,186 | 8,383 |
CORA Health Holdings Corp | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 0 | 7,744 |
Qualawash Holdings, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 3,070 | |
Thrasio, LLC | 1st Lien/Senior Secured Debt | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | 13,604 | |
EDB Parent, LLC (dba Enterprise DB) | 1st Lien/Last-Out Unitranche | ||
Loss Contingencies [Line Items] | ||
Unfunded Commitment Balances | $ 4,890 | $ 5,973 |
Members' Capital - Summary of units issued and proceeds related to capital drawdowns (Details) - USD ($) |
6 Months Ended | |
---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Class of Stock [Line Items] | ||
Units Issued | 160,166 | 1,069,872 |
Proceeds Received | $ 14,758 | $ 103,307 |
May 22, 2023 | ||
Class of Stock [Line Items] | ||
Units Issued | 160,166 | |
Proceeds Received | $ 14,758 | |
June 21, 2022 | ||
Class of Stock [Line Items] | ||
Units Issued | 1,069,872 | |
Proceeds Received | $ 103,307 |
Members' Capital - Schedule of Distributions Declared on Common Stock (Details) - $ / shares |
6 Months Ended | |
---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
|
May 3, 2023 | ||
Distribution Made to Limited Partner [Line Items] | ||
Date Declared | May 03, 2023 | |
Record Date | May 08, 2023 | |
Payment Date | May 25, 2023 | |
Amount Per Unit | $ 3.03 | |
March 2, 2022 | ||
Distribution Made to Limited Partner [Line Items] | ||
Date Declared | Mar. 02, 2022 | |
Record Date | Apr. 04, 2022 | |
Payment Date | Apr. 29, 2022 | |
Amount Per Unit | $ 2.9 | |
May 3, 2022 | ||
Distribution Made to Limited Partner [Line Items] | ||
Date Declared | May 03, 2022 | |
Record Date | Jul. 05, 2022 | |
Payment Date | Jul. 29, 2022 | |
Amount Per Unit | $ 2.72 |
Earnings per Unit - Schedule of Basic and Diluted Earning Per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Earnings Per Share [Abstract] | ||||
Net Increase in Member's Capital from operations | $ 42,811 | $ 13,327 | $ 50,533 | $ 35,954 |
Weighted Average Number Of Shares Outstanding, Basic | 13,750,906 | 10,414,230 | 13,722,900 | 10,355,771 |
Weighted Average Number Of Shares Outstanding, Diluted | 13,750,906 | 10,414,230 | 13,722,900 | 10,355,771 |
Earnings Per Share, Basic | $ 3.11 | $ 1.28 | $ 3.68 | $ 3.47 |
Earnings Per Share, Diluted | $ 3.11 | $ 1.28 | $ 3.68 | $ 3.47 |
Financial Highlights - Schedule of Financial Highlights of the Company (Details) - USD ($) $ / shares in Units, $ in Thousands |
6 Months Ended | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Mar. 31, 2023 |
Dec. 31, 2022 |
Mar. 31, 2022 |
Dec. 31, 2021 |
|||||||||||
Per Share Data: | ||||||||||||||||
NAV, beginning of period | [1] | $ 90.58 | $ 95.68 | |||||||||||||
Net investment income | [1] | 5.94 | 5.26 | |||||||||||||
Net realized and unrealized gains (losses) | [1],[2] | (2.18) | (1.74) | |||||||||||||
Income tax provision, realized and unrealized gains | [1] | (0.06) | (0.01) | |||||||||||||
Net increase in Members' Capital from operations | [1],[2] | 3.7 | 3.51 | |||||||||||||
Distributions declared from net investment income | [1] | (3.03) | (2.9) | |||||||||||||
Total increase (decrease) in Members' Capital | [1] | 0.67 | 0.61 | |||||||||||||
NAV, end of period | [1] | $ 91.25 | $ 96.29 | |||||||||||||
Units outstanding, end of period | [1] | 13,854,750 | 11,366,534 | |||||||||||||
Weighted average units outstanding | [1] | 13,722,900 | 10,355,771 | |||||||||||||
Total return based on NAV | [1],[3] | 4.08% | 3.67% | |||||||||||||
Supplemental Data/Ratio: | ||||||||||||||||
Members' Capital, end of period | $ 1,264,301 | [4] | $ 1,094,510 | [4] | $ 1,248,232 | $ 1,240,510 | $ 1,007,775 | $ 985,148 | ||||||||
Ratio of expenses (without incentive fees and interest and other debt expenses) to Members' Capital | [4] | 1.89% | 1.98% | |||||||||||||
Ratio of interest and other debt expenses to average Members' Capital | [4] | 9.53% | 5.45% | |||||||||||||
Ratio of incentive fees to average Members' Capital | [4] | 0.71% | 0.63% | |||||||||||||
Ratio of total expenses to average Members' Capital | [4] | 12.13% | 8.06% | |||||||||||||
Ratio of net investment income to average Members' Capital | [4] | 13.90% | 11.58% | |||||||||||||
Portfolio turnover | [4] | 2.00% | 3.00% | |||||||||||||
|
Subsequent Events - Additional Information (Details) - Subsequent Event [Member] |
Aug. 03, 2023 |
---|---|
Subsequent Event [Line Items] | |
Subsequent Event, Date | Aug. 02, 2023 |
Subsequent Event, Description | On August 2, 2023, the Board of Directors approved and authorized an extension of the investment period of the Company for an additional twelve-month period ending on September 26, 2024. |
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