Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Investments at fair value: $ 1,369,202 [1],[2],[3] $ 1,335,387 [4]
Cash and cash equivalents 15,559 20,635
Interest and dividend receivable 11,942 12,273
Prepaids and other assets 10,094 9,546
Deferred financing costs (net of accumulated amortization of $7,467 and $7,259 as of March 31, 2026 and December 31, 2025, respectively) 3,128 3,190
Total assets 1,409,925 1,381,031
LIABILITIES    
Debt 649,100 602,751
Accounts payable and other liabilities 4,408 3,549
Interest payable 7,463 5,946
Dividend payable 16,324 16,772
Base management and incentive fees payable 7,340 8,388
Deferred tax liability, net 5,762 4,966
Total liabilities 690,397 642,372
Commitments and contingencies (Note I)
NET ASSETS    
Common stock, $0.001 par value per share (450,000,000 shares authorized; 45,345,229 and 46,588,608 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively) 45 47
Additional paid‑in capital 765,979 782,007
Total overdistributed earnings (46,496) (43,395)
Total net assets 719,528 738,659
Total liabilities and net assets $ 1,409,925 $ 1,381,031
NET ASSET VALUE PER SHARE (in dollars per share) $ 15.87 $ 15.85
Unsecured Debt | Series A Notes due 2026    
LIABILITIES    
Debt $ 149,826 $ 149,751
Unsecured Debt | May 2029 Notes    
LIABILITIES    
Debt 149,274 0
Revolving Credit Facility | Line of Credit    
LIABILITIES    
Debt 350,000 453,000
Control investments    
ASSETS    
Investments at fair value: 53,802 [2],[5] 58,372 [4],[6]
Affiliate investments    
ASSETS    
Investments at fair value: 426,618 [2],[7] 406,771 [4],[8]
Non‑Control/Non‑Affiliate investments    
ASSETS    
Investments at fair value: $ 888,782 [2],[9] $ 870,244 [4],[10]
[1] All portfolio company headquarters are based in the U.S., unless otherwise noted.
[2] Investment Fair Value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
[3] All investments are LMM (as defined below) portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of LMM portfolio investments. All of the Fund’s investments, unless otherwise noted, are encumbered as security for one of the Credit Facilities (as defined below).
[4] Investment Fair Value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
[5] “Control” investments are defined by the 1940 Act (as defined below) as investments in which more than 25% of the voting securities are owned or where the ability to nominate greater than 50% of the board representation is maintained.
[6] “Control” investments are defined by the 1940 Act as investments in which more than 25% of the voting securities are owned or where the ability to nominate greater than 50% of the board representation is maintained.
[7] “Affiliate” investments are defined by the 1940 Act as investments in which between 5% and 25% (inclusive) of the voting securities are owned and the investments are not classified as Control investments.
[8] “Affiliate” investments are defined by the 1940 Act as investments in which between 5% and 25% (inclusive) of the voting securities are owned and the investments are not classified as Control investments.
[9] “Non-Control/Non-Affiliate” investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.
[10] “Non-Control/Non-Affiliate” investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.