The information in the following tables is presented on an aggregate portfolio basis, without regard to whether they are non-controlled, non-affiliated, non-controlled, affiliated or controlled affiliated, investments.

Investments at fair value consisted of the following (in thousands):


	As of December 31, 2025
Investment Type	Cost		Fair Value		Unrealized Appreciation/ (Depreciation)
Unitranche First Lien	$	428,556	$	434,909	$	6,353
Equity & Other		24,615		23,232		(1,383	)
Total Investments	$	453,171	$	458,141	$	4,970

The industry composition of investments at fair value is as follows (in thousands):


Industry	Fair Value as of December 31, 2025		Percentage of Fair Value
Healthcare Equipment and Services	$	220,401		48.1	%
Software and Services		153,533		33.5
Commercial and Professional Services		84,207		18.4
Total Investments	$	458,141		100.0	%

The geographic composition of investments at fair value is as follows (in thousands):


Geographic Region	Fair Value as of December 31, 2025		Percentage of Fair Value
United States	$	458,141		100.0	%
Total Investments	$	458,141		100.0	%