Derivatives |
6 Months Ended |
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Jun. 30, 2025 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Derivatives | Derivatives Interest Rate Swap The Company may enter into interest rate swaps from time to time in an effort to mitigate its exposure to fluctuations in interest rates. Interest rate swaps are agreements in which one party pays a stream of interest payments, either fixed or floating, in exchange for another party’s stream of interest payments, either fixed or floating, on the same notional amount for a specified period of time. These contracts are marked-to-market by recognizing the difference between the contract exchange rate and the current market rate as unrealized appreciation or depreciation on the consolidated statements of assets and liabilities. As of June 30, 2025, there was $0.3 million of unrealized depreciation on the interest rate swap. As of December 31, 2024, there was no unrealized appreciation or depreciation on the interest rate swap given the investment was made on December 31, 2024. Realized gains or losses are recognized when contracts are settled. As of June 30, 2025 and December 31, 2024, the interest rate swap is classified within Level 2 of the fair value hierarchy and is subject to ISDA Master Agreements or similar agreements. Refer to the consolidated schedules of investments for additional details regarding the interest rate swap.
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