| Schedule of composition of investment portfolio |
The following table presents the composition of the Company’s investment portfolio at cost and fair value as of June 30, 2025 and December 31, 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
June 30, 2025 |
|
|
December 31, 2024 |
|
|
Investments: |
|
Amortized Cost |
|
|
Fair Value |
|
|
Percent of Total Investments at Fair Value |
|
|
Amortized Cost |
|
|
Fair Value |
|
|
Percent of Total Investments at Fair Value |
|
|
First Lien Loans |
|
$ |
2,333,060 |
|
|
$ |
2,335,714 |
|
|
|
88.0 |
|
% |
$ |
2,207,578 |
|
|
$ |
2,209,392 |
|
|
|
88.2 |
|
% |
Second Lien Loans |
|
|
155,331 |
|
|
|
149,799 |
|
|
|
5.7 |
|
|
|
157,690 |
|
|
|
151,362 |
|
|
|
6.0 |
|
|
Unsecured Notes |
|
|
111,299 |
|
|
|
112,475 |
|
|
|
4.2 |
|
|
|
90,353 |
|
|
|
91,375 |
|
|
|
3.7 |
|
|
Preferred Equity |
|
|
37,116 |
|
|
|
38,583 |
|
|
|
1.5 |
|
|
|
34,833 |
|
|
|
36,226 |
|
|
|
1.5 |
|
|
Common Equity and Warrants |
|
|
12,366 |
|
|
|
17,095 |
|
|
|
0.6 |
|
|
|
12,353 |
|
|
|
15,887 |
|
|
|
0.6 |
|
|
Total Investments |
|
$ |
2,649,172 |
|
|
$ |
2,653,666 |
|
|
|
100.0 |
|
% |
$ |
2,502,807 |
|
|
$ |
2,504,242 |
|
|
|
100.0 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
December 31, 2024 |
|
|
U.S |
|
|
99.0 |
|
% |
|
98.9 |
|
% |
Non-U.S. |
|
|
1.0 |
|
|
|
1.1 |
|
|
Total |
|
|
100.0 |
|
% |
|
100.0 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
December 31, 2024 |
|
|
Capital Markets |
|
|
5.7 |
|
% |
|
5.0 |
|
% |
Diversified Consumer Services |
|
|
0.0 |
|
|
|
0.7 |
|
|
Financial Services |
|
|
10.7 |
|
|
|
9.5 |
|
|
Health Care Providers & Services |
|
|
18.2 |
|
|
|
16.8 |
|
|
Health Care Technology |
|
|
2.1 |
|
|
|
3.1 |
|
|
Insurance |
|
|
21.4 |
|
|
|
21.9 |
|
|
IT Services |
|
|
6.7 |
|
|
|
7.8 |
|
|
Professional Services |
|
|
15.6 |
|
|
|
16.5 |
|
|
Real Estate Management & Development |
|
|
5.0 |
|
|
|
4.6 |
|
|
Software |
|
|
13.5 |
|
|
|
12.6 |
|
|
Consumer Finance |
|
|
1.1 |
|
|
|
1.5 |
|
|
Total |
|
|
100.0 |
|
% |
|
100.0 |
|
% |
|