v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investment income      
Total investment income $ 72,672 $ 92,817 $ 103,260
Expenses      
Interest expense 23,139 27,899 29,915
Base management fees 11,111 12,127 14,684
Performance-based incentive fees 6,477 9,309 10,678
Administrative service fees 683 683 683
General and administrative expenses 4,690 4,440 3,622
Total expenses, before fees waived 46,100 54,458 59,582
Performance-based incentive fees waived (200)    
Total expenses 45,900 54,458 59,582
Net investment income before excise tax 26,772 38,359 43,678
Excise tax 662 1,121 965
Net investment income after excise tax 26,110 37,238 42,713
Realized and unrealized gains (losses) on investments and foreign currency transactions      
Net realized gains (losses) (35,383) (17,993) 5,738
Foreign currency transactions (784) (1) 950
Foreign currency forward contracts 602 13 27
Net realized gains (losses) (35,565) (17,981) 947
Net change in unrealized appreciation (depreciation) 24,102 (9,567) (21,969)
Translation of assets and liabilities in foreign currencies 33 1,098 (1,239)
Foreign currency forward contracts (343) 63 (40)
Net change in unrealized appreciation (depreciation) 23,792 (8,406) (23,248)
Net realized and unrealized gains (losses) on investments and foreign currency transactions (11,773) (26,387) (22,301)
Net increase (decrease) in net assets resulting from operations $ 14,337 $ 10,851 $ 20,412
Per Common Share Data      
Basic earnings (losses) per common share $ 0.62 $ 0.47 $ 0.88
Diluted earnings (losses) per common share 0.62 0.47 0.88
Dividends and distributions declared per common share $ 1.44 $ 1.79 $ 1.55
Basic weighted average common shares outstanding 23,174,909 23,243,088 23,243,088
Diluted weighted average common shares outstanding 23,174,909 23,243,088 23,243,088
Non-controlled/non-affiliate company investments      
Investment income      
Interest income $ 53,449 $ 66,402 $ 78,493
Payment-in-kind income 1,637 6,175 3,960
Fee income 2,207 2,247 2,966
Dividend income 82 116 450
Realized and unrealized gains (losses) on investments and foreign currency transactions      
Net realized gains (losses) (14,403) (17,993) 309
Net change in unrealized appreciation (depreciation) 7,511 7,421 (7,871)
Non-controlled affiliate company investments      
Investment income      
Interest income 378 93  
Payment-in-kind income 513 705 314
Dividend income     84
Realized and unrealized gains (losses) on investments and foreign currency transactions      
Net realized gains (losses)     (339)
Net change in unrealized appreciation (depreciation) (2,877) (7,775) (5,608)
Controlled affiliate company investments      
Investment income      
Interest income 9,070 9,838 9,488
Payment-in-kind income   380 1,347
Dividend income 5,336 6,861 6,158
Realized and unrealized gains (losses) on investments and foreign currency transactions      
Net realized gains (losses) (20,980)    
Net change in unrealized appreciation (depreciation) $ 19,468 $ (9,213) $ (8,490)