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 |
|
% |
|