v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net increase in net assets resulting from operations $ 10,851 $ 20,412 $ 15,683
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by / (used in) operating activities:      
Payment-in-kind income (7,260) (5,738) (2,355)
Net realized (gains) losses on investments 17,993 30 13,958
Net unrealized (appreciation) depreciation on investments 9,567 21,969 9,191
Net unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies (1,098) 1,239 (1,887)
Net unrealized (appreciation) depreciation on foreign currency forward contracts (63) 40 3
Accretion of discount (4,111) (4,493) (5,626)
Amortization of deferred financing costs 1,688 1,599 1,541
Acquisition of investments (207,283) (145,008) (280,089)
Proceeds from principal payments and sales of portfolio investments 186,251 128,199 239,622
Proceeds from sales of portfolio investments to STRS JV 59,190 69,419 83,459
Net changes in operating assets and liabilities:      
Interest and dividend receivable 2,518 (335) (293)
Escrow receivable     619
Prepaid expenses and other receivables 202 (37) 133
Amounts receivable on unsettled investment transactions 231 (60) (283)
Amounts payable on unsettled investment transactions 3,539    
Management fees payable (663) (265) 94
Incentive fees payable 7,378 4,852 (2,340)
Accounts payable and accrued expenses 52 (240) (109)
Interest payable (248) (705) 687
Advances received from unfunded credit facilities 24 (509) (14)
Net cash (used in) / provided by operating activities 78,758 90,369 71,994
Cash flows from financing activities      
Proceeds from notes issued   34,500  
Proceeds from issuance of common stock, net of offering costs     125
Borrowings 119,315 132,248 140,527
Repayments of debt (153,222) (222,099) (175,417)
Deferred financing costs   (1,445) (580)
Distributions paid to common stockholders, net of distributions reinvested (41,489) (35,329) (33,143)
Net cash provided by / (used in) financing activities (75,396) (92,125) (68,488)
Effect of exchange rate changes on cash (13) (21) 290
Net change in cash, cash equivalents and restricted cash 3,349 (1,777) 3,796
Cash, cash equivalents and restricted cash at beginning of period 24,487 26,264 22,468
Cash, cash equivalents and restricted cash at end of period 27,836 24,487 26,264
Supplemental and non-cash disclosure of cash flow information:      
Interest paid 26,459 29,021 19,712
Taxes, including excise tax, paid during the year $ 1,407 1,103 1,184
Distributions reinvested     978
Non-cash exchanges of investments   $ 5,520 $ 25,000