v3.26.1
Consolidated Schedule of Investments - USD ($)
shares in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Investments [Line Items]    
Amortized cost $ 464,320,000 [1],[2],[3] $ 103,310,000 [4],[5]
Fair Value $ 463,295,000 [3],[6] $ 103,947,000 [5],[7],[8]
Percentage of Net Assets 135.70% [3] 73.10% [5]
Cash Equivalents [1],[2] $ 22,877,000  
Cash equivalents, fair value [6] $ 22,877,000  
Cash equivalents, percentage of net assets 6.70%  
Total Investments and Cash Equivalents [1],[2] $ 487,197,000  
Total Investments and Cash Equivalents [6] $ 486,172,000  
Total Investments and Cash Equivalents 142.40%  
Capital Goods    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 57,159,000  
Fair Value [6] $ 56,999,000  
Percentage of Net Assets 16.60%  
Commercial & Professional Services    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 64,327,000  
Fair Value [6] $ 64,880,000  
Percentage of Net Assets 19.00%  
Consumer Durables & Apparel    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 9,504,000  
Fair Value [6] $ 9,499,000  
Percentage of Net Assets 2.80%  
Consumer Services    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 29,447,000  
Fair Value [6] $ 29,642,000  
Percentage of Net Assets 8.60%  
Financial Services    
Schedule of Investments [Line Items]    
Amortized cost $ 15,416,000 [1],[2] $ 25,613,000 [4]
Fair Value $ 15,433,000 [6] $ 25,680,000 [7]
Percentage of Net Assets 4.60% 18.10%
Food and Beverage    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 37,824,000  
Fair Value [6] $ 36,344,000  
Percentage of Net Assets 10.60%  
Healthcare Equipment & Services    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 36,895,000  
Fair Value [6] $ 36,865,000  
Percentage of Net Assets 10.80%  
Insurance    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 24,155,000  
Fair Value [6] $ 24,185,000  
Percentage of Net Assets 7.10%  
Materials    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 4,698,000  
Fair Value [6] $ 4,725,000  
Percentage of Net Assets 1.40%  
Media & Entertainment    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 34,927,000  
Fair Value [6] $ 34,834,000  
Percentage of Net Assets 10.20%  
Pharmaceuticals    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 9,790,000  
Fair Value [6] $ 9,653,000  
Percentage of Net Assets 2.90%  
Real Estate Management & Development    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 35,263,000  
Fair Value [6] $ 35,299,000  
Percentage of Net Assets 10.30%  
Transportation    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 20,211,000  
Fair Value [6] $ 20,275,000  
Percentage of Net Assets 6.00%  
Software & Services    
Schedule of Investments [Line Items]    
Amortized cost [1],[2] $ 59,016,000  
Fair Value [6] $ 59,014,000  
Percentage of Net Assets 17.20%  
Communications    
Schedule of Investments [Line Items]    
Amortized cost [4]   $ 3,006,000
Fair Value [7]   $ 3,032,000
Percentage of Net Assets   2.10%
Consumer Discretionary    
Schedule of Investments [Line Items]    
Amortized cost [4]   $ 11,634,000
Fair Value [7]   $ 11,781,000
Percentage of Net Assets   8.30%
Consumer Staples    
Schedule of Investments [Line Items]    
Amortized cost [4]   $ 3,073,000
Fair Value [7]   $ 3,076,000
Percentage of Net Assets   2.20%
Healthcare    
Schedule of Investments [Line Items]    
Amortized cost [4]   $ 14,362,000
Fair Value [7]   $ 14,502,000
Percentage of Net Assets   10.20%
Industrials    
Schedule of Investments [Line Items]    
Amortized cost [4]   $ 31,045,000
Fair Value [7]   $ 31,182,000
Percentage of Net Assets   21.90%
Technology    
Schedule of Investments [Line Items]    
Amortized cost [4]   $ 14,577,000
Fair Value [7]   $ 14,694,000
Percentage of Net Assets   10.30%
Investment, Identifier [Axis]: 7050 Rime Village Owner, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9] 4.50%  
Interest Rate [9] 8.23%  
Par [9] $ 4,389,000  
Amortized cost [1],[2],[9] 4,335,000  
Fair Value [6],[9] $ 4,334,000  
Percentage of Net Assets [9] 1.30%  
Investment, Identifier [Axis]: A&J Holdco, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.25%  
Interest Rate [9],[10] 8.93%  
Par [9],[10] $ 6,928,000  
Amortized cost [1],[2],[9],[10] 6,820,000  
Fair Value [6],[9],[10] $ 6,865,000  
Percentage of Net Assets [9],[10] 2.00%  
Investment, Identifier [Axis]: AMC Entertainment Holdings, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 7.00% [9],[10],[11],[12] 7.00% [13],[14]
Interest Rate 10.73% [9],[10],[11],[12] 11.36% [13],[14]
Par $ 9,180,000 [9],[10],[11],[12] $ 6,070,000 [13],[14]
Amortized cost 9,110,000 [1],[2],[9],[10],[11],[12] 6,051,000 [4],[13],[14]
Fair Value $ 9,215,000 [6],[9],[10],[11],[12] $ 6,183,000 [7],[13],[14]
Percentage of Net Assets 2.70% [9],[10],[11],[12] 4.40% [13],[14]
Investment, Identifier [Axis]: Aeritek Global Holdings, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.50%  
Interest Rate [9],[10] 10.32%  
Par [9],[10] $ 10,890,000  
Amortized cost [1],[2],[9],[10] 10,736,000  
Fair Value [6],[9],[10] $ 10,727,000  
Percentage of Net Assets [9],[10] 3.10%  
Investment, Identifier [Axis]: Aeritek Global Holdings, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.50%  
Interest Rate [9],[10] 10.32%  
Par [9],[10] $ 424,000  
Amortized cost [1],[2],[9],[10] 408,000  
Fair Value [6],[9],[10] $ 417,000  
Percentage of Net Assets [9],[10] 0.10%  
Investment, Identifier [Axis]: Afore Insurance Services, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.00% [9],[10] 6.00% [13]
Interest Rate 8.74% [9],[10] 10.44% [13]
Par $ 2,213,000 [9],[10] $ 1,495,000 [13]
Amortized cost 2,184,000 [1],[2],[9],[10] 1,449,000 [4],[13]
Fair Value $ 2,195,000 [6],[9],[10] $ 1,483,000 [7],[13]
Percentage of Net Assets 0.60% [9],[10] 1.00% [13]
Investment, Identifier [Axis]: Alcrete, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.75%  
Interest Rate [9],[10] 10.42%  
Par [9],[10] $ 4,548,000  
Amortized cost [1],[2],[9],[10] 4,457,000  
Fair Value [6],[9],[10] $ 4,475,000  
Percentage of Net Assets [9],[10] 1.30%  
Investment, Identifier [Axis]: Alcrete, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.75%  
Interest Rate [9],[10] 10.42%  
Par [9],[10] $ 254,000  
Amortized cost [1],[2],[9],[10] 241,000  
Fair Value [6],[9],[10] $ 250,000  
Percentage of Net Assets [9],[10] 0.10%  
Investment, Identifier [Axis]: Align ENTA Management Services, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.00% [9],[10] 5.00% [13]
Interest Rate 8.72% [9],[10] 9.36% [13]
Par $ 2,735,000 [9],[10] $ 434,000 [13]
Amortized cost 2,711,000 [1],[2],[9],[10] 414,000 [4],[13]
Fair Value $ 2,734,000 [6],[9],[10] $ 430,000 [7],[13]
Percentage of Net Assets 0.80% [9],[10] 0.30% [13]
Investment, Identifier [Axis]: Anasazi Medical Payment Solutions, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [10] 16.00%  
Interest Rate [10] 16.00%  
Interest Rate, PIK [10] 10.00%  
Par [10] $ 3,294,000  
Amortized cost [1],[2],[10] 3,214,000  
Fair Value [6],[10] $ 3,189,000  
Percentage of Net Assets [10] 0.90%  
Investment, Identifier [Axis]: Ark Data Centers, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 4.75% [9],[10] 4.75% [13]
Interest Rate 8.42% [9],[10] 9.08% [13]
Par $ 4,516,000 [9],[10] $ 3,977,000 [13]
Amortized cost 4,425,000 [1],[2],[9],[10] 3,863,000 [4],[13]
Fair Value $ 4,330,000 [6],[9],[10] $ 3,898,000 [7],[13]
Percentage of Net Assets 1.30% [9],[10] 2.70% [13]
Investment, Identifier [Axis]: Ark Data Centers, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 4.75%  
Interest Rate [9],[10] 8.42%  
Par [9],[10] $ 328,000  
Amortized cost [1],[2],[9],[10] 316,000  
Fair Value [6],[9],[10] $ 314,000  
Percentage of Net Assets [9],[10] 0.10%  
Investment, Identifier [Axis]: Arrow Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.75%  
Interest Rate [9],[10] 10.47%  
Par [9],[10] $ 10,143,000  
Amortized cost [1],[2],[9],[10] 9,980,000  
Fair Value [6],[9],[10] $ 9,991,000  
Percentage of Net Assets [9],[10] 2.90%  
Investment, Identifier [Axis]: Attigo Health, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.25%  
Interest Rate [9],[10] 8.97%  
Par [9],[10] $ 5,117,000  
Amortized cost [1],[2],[9],[10] 5,039,000  
Fair Value [6],[9],[10] $ 5,000,000  
Percentage of Net Assets [9],[10] 1.50%  
Investment, Identifier [Axis]: BCPE North Star US Holdco 2 | Second-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10],[11] 7.25%  
Interest Rate [9],[10],[11] 11.08%  
Par [9],[10],[11] $ 8,616,000  
Amortized cost [1],[2],[9],[10],[11] 8,442,000  
Fair Value [6],[9],[10],[11] $ 8,527,000  
Percentage of Net Assets [9],[10],[11] 2.50%  
Investment, Identifier [Axis]: BSU VS Holdings, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.50%  
Interest Rate [9],[10] 9.22%  
Par [9],[10] $ 3,675,000  
Amortized cost [1],[2],[9],[10] 3,640,000  
Fair Value [6],[9],[10] $ 3,679,000  
Percentage of Net Assets [9],[10] 1.10%  
Investment, Identifier [Axis]: BV Design Multifamily DST | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 3.45%  
Interest Rate [9],[10] 7.10%  
Par [9],[10] $ 7,263,000  
Amortized cost [1],[2],[9],[10] 7,204,000  
Fair Value [6],[9],[10] $ 7,227,000  
Percentage of Net Assets [9],[10] 2.10%  
Investment, Identifier [Axis]: Best Practice Associates, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 6.75% [9],[10] 6.75% [13]
Interest Rate 10.52% [9],[10] 11.08% [13]
Par $ 7,804,000 [9],[10] $ 7,882,000 [13]
Amortized cost 7,637,000 [1],[2],[9],[10] 7,676,000 [4],[13]
Fair Value $ 7,726,000 [6],[9],[10] $ 7,685,000 [7],[13]
Percentage of Net Assets 2.30% [9],[10] 5.50% [13]
Investment, Identifier [Axis]: Bridger Aerospace Group Holdings, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.00%  
Interest Rate [9],[10] 9.72%  
Par [9],[10] $ 7,890,000  
Amortized cost [1],[2],[9],[10] 7,673,000  
Fair Value [6],[9],[10] $ 7,731,000  
Percentage of Net Assets [9],[10] 2.30%  
Investment, Identifier [Axis]: Broadsign International Holding Company | Equity Interest    
Schedule of Investments [Line Items]    
Units 202  
Amortized cost [1],[2] $ 1,800,000  
Fair Value [6] $ 1,800,000  
Percentage of Net Assets 0.50%  
Investment, Identifier [Axis]: Broadsign International Holding Company | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 14.00%  
Interest Rate, PIK 14.00%  
Par $ 12,000,000  
Amortized cost [1],[2] 10,219,000  
Fair Value [6] $ 10,195,000  
Percentage of Net Assets 3.00%  
Investment, Identifier [Axis]: By Light Professional IT Services, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.50%  
Interest Rate [9],[10] 9.22%  
Par [9],[10] $ 5,888,000  
Amortized cost [1],[2],[9],[10] 5,799,000  
Fair Value [6],[9],[10] $ 5,888,000  
Percentage of Net Assets [9],[10] 1.70%  
Investment, Identifier [Axis]: CL AK Broadstreet, L.P. | Equity Interest    
Schedule of Investments [Line Items]    
Amortized cost [1],[2],[15] $ 10,019,000  
Fair Value [6],[15] $ 10,008,000  
Percentage of Net Assets [15] 2.90%  
Investment, Identifier [Axis]: CL FLS A, LP - Equity Interest (Metagenics) | Equity Interest    
Schedule of Investments [Line Items]    
Amortized cost [1],[2],[9] $ 10,586,000  
Fair Value [6],[9] $ 10,605,000  
Percentage of Net Assets [9] 3.10%  
Investment, Identifier [Axis]: CL Thematic - Equity Interest (Emergence Software) | Equity Interest    
Schedule of Investments [Line Items]    
Amortized cost [1],[2],[15] $ 0  
Fair Value [6],[15] $ 2,000  
Percentage of Net Assets [15] 0.00%  
Investment, Identifier [Axis]: CMM Investments 137 Canton, LLC 1L CL 12/25 | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9] 4.15%  
Interest Rate [9] 7.88%  
Par [9] $ 4,752,000  
Amortized cost [1],[2],[9] 4,706,000  
Fair Value [6],[9] $ 4,706,000  
Percentage of Net Assets [9] 1.40%  
Investment, Identifier [Axis]: CX Institutional - CL Meadow Intermediate, LLC | Warrants    
Schedule of Investments [Line Items]    
Units 1,962  
Amortized cost [1],[2] $ 1,962,000  
Fair Value [6] $ 1,945,000  
Percentage of Net Assets 0.60%  
Investment, Identifier [Axis]: CX Institutional, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 6.00% [9],[10] 5.75% [13]
Interest Rate 9.72% [9],[10] 10.11% [13]
Par $ 1,787,000 [9],[10] $ 1,339,000 [13]
Amortized cost 1,720,000 [1],[2],[9],[10] 1,298,000 [4],[13]
Fair Value $ 1,801,000 [6],[9],[10] $ 1,311,000 [7],[13]
Percentage of Net Assets 0.50% [9],[10] 0.90% [13]
Investment, Identifier [Axis]: CX Institutional, LLC | Second-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 8.00%  
Interest Rate, PIK [9],[10] 8.00%  
Par [9],[10] $ 8,007,000  
Amortized cost [1],[2],[9],[10] 6,070,000  
Fair Value [6],[9],[10] $ 6,025,000  
Percentage of Net Assets [9],[10] 1.80%  
Investment, Identifier [Axis]: Chirisa Volo, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 6.25% [9],[10] 6.25% [13]
Interest Rate 9.97% [9],[10] 10.55% [13]
Par $ 7,194,000 [9],[10] $ 1,069,000 [13]
Amortized cost 7,150,000 [1],[2],[9],[10] 1,002,000 [4],[13]
Fair Value $ 7,187,000 [6],[9],[10] $ 1,059,000 [7],[13]
Percentage of Net Assets 2.10% [9],[10] 0.80% [13]
Investment, Identifier [Axis]: Cleanova Midco Limited | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 4.75%  
Interest Rate [9],[10] 8.48%  
Par [9],[10] $ 10,613,000  
Amortized cost [1],[2],[9],[10] 10,263,000  
Fair Value [6],[9],[10] $ 10,146,000  
Percentage of Net Assets [9],[10] 3.00%  
Investment, Identifier [Axis]: Crete PA Holdco, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 4.75% [9],[10] 5.00% [13]
Interest Rate 8.57% [9],[10] 9.52% [13]
Par $ 3,000,000 [9],[10] $ 1,502,000 [13]
Amortized cost 2,925,000 [1],[2],[9],[10] 1,465,000 [4],[13]
Fair Value $ 2,961,000 [6],[9],[10] $ 1,479,000 [7],[13]
Percentage of Net Assets 0.90% [9],[10] 1.00% [13]
Investment, Identifier [Axis]: Emergence Mobility Technologies, Inc | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9] 8.50%  
Interest Rate [9] 12.23%  
Interest Rate, PIK [9] 3.50%  
Par [9] $ 5,589,000  
Amortized cost [1],[2],[9] 5,395,000  
Fair Value [6],[9] $ 5,449,000  
Percentage of Net Assets [9] 1.60%  
Investment, Identifier [Axis]: Fabletics Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 7.50%  
Interest Rate [9],[10] 11.34%  
Par [9],[10] $ 9,693,000  
Amortized cost [1],[2],[9],[10] 9,504,000  
Fair Value [6],[9],[10] $ 9,499,000  
Percentage of Net Assets [9],[10] 2.80%  
Investment, Identifier [Axis]: Farrell & Fuller, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [10],[16] 11.50%  
Interest Rate [10],[16] 11.50%  
Par [10],[16] $ 5,662,000  
Amortized cost [1],[2],[10],[16] 5,664,000  
Fair Value [6],[10],[16] $ 5,662,000  
Percentage of Net Assets [10],[16] 1.70%  
Investment, Identifier [Axis]: FreshPure Buyer, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.25%  
Interest Rate [9],[10] 9.05%  
Par [9],[10] $ 9,469,000  
Amortized cost [1],[2],[9],[10] 9,292,000  
Fair Value [6],[9],[10] $ 9,326,000  
Percentage of Net Assets [9],[10] 2.70%  
Investment, Identifier [Axis]: Galaxy Helios I, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 4.75%  
Interest Rate [9],[10] 8.48%  
Par [9],[10] $ 8,826,000  
Amortized cost [1],[2],[9],[10] 8,582,000  
Fair Value [6],[9],[10] $ 8,747,000  
Percentage of Net Assets [9],[10] 2.60%  
Investment, Identifier [Axis]: Garden Owner, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 9.25% [9],[10] 4.34% [13]
Interest Rate 13.50% [9],[10] 14.09%
Interest Rate, PIK 6.50% [9],[10] 7.00%
Par $ 3,756,000 [9],[10] $ 3,703,000 [13]
Amortized cost 3,756,000 [1],[2],[9],[10] 3,703,000 [4],[13]
Fair Value $ 3,765,000 [6],[9],[10] $ 3,703,000 [7],[13]
Percentage of Net Assets 1.10% [9],[10] 2.60% [13]
Investment, Identifier [Axis]: Gas Media Holdings, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.00%  
Interest Rate [9],[10] 8.99%  
Par [9],[10] $ 8,234,000  
Amortized cost [1],[2],[9],[10] 8,109,000  
Fair Value [6],[9],[10] $ 8,119,000  
Percentage of Net Assets [9],[10] 2.40%  
Investment, Identifier [Axis]: Gas Media Holdings, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.00%  
Interest Rate [9],[10] 8.99%  
Par [9],[10] $ 59,000  
Amortized cost [1],[2],[9],[10] 51,000  
Fair Value [6],[9],[10] $ 58,000  
Percentage of Net Assets [9],[10] 0.00%  
Investment, Identifier [Axis]: Getty Images, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [10],[11],[12] 11.25%  
Interest Rate [10],[11],[12] 11.25%  
Par [10],[11],[12] $ 12,318,000  
Amortized cost [1],[2],[10],[11],[12] 11,746,000  
Fair Value [6],[10],[11],[12] $ 11,578,000  
Percentage of Net Assets [10],[11],[12] 3.40%  
Investment, Identifier [Axis]: Govos Intermediate Holdings, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [13]   4.00%
Interest Rate   10.75%
Interest Rate, PIK   2.00%
Par [13]   $ 3,646,000
Amortized cost [4],[13]   3,574,000
Fair Value [7],[13]   $ 3,580,000
Percentage of Net Assets [13]   2.50%
Investment, Identifier [Axis]: Heritage Grocers Group, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 6.75% [9],[10],[11] 6.75% [13],[14]
Interest Rate 10.52% [9],[10],[11] 11.18% [13],[14]
Par $ 10,094,000 [9],[10],[11] $ 3,218,000 [13],[14]
Amortized cost 9,504,000 [1],[2],[9],[10],[11] 3,073,000 [4],[13],[14]
Fair Value $ 7,886,000 [6],[9],[10],[11] $ 3,076,000 [7],[13],[14]
Percentage of Net Assets 2.30% [9],[10],[11] 2.20% [13],[14]
Investment, Identifier [Axis]: IXOPay, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.00%  
Interest Rate [9],[10] 8.87%  
Par [9],[10] $ 6,235,000  
Amortized cost [1],[2],[9],[10] 6,165,000  
Fair Value [6],[9],[10] $ 6,229,000  
Percentage of Net Assets [9],[10] 1.80%  
Investment, Identifier [Axis]: JFL-Atomic AcquisitionCo, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 4.75%  
Interest Rate [9],[10] 8.64%  
Par [9],[10] $ 4,838,000  
Amortized cost [1],[2],[9],[10] 4,762,000  
Fair Value [6],[9],[10] $ 4,795,000  
Percentage of Net Assets [9],[10] 1.40%  
Investment, Identifier [Axis]: Jitterbit, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 9.50% [9],[10] 6.00% [13]
Interest Rate 13.52% [9],[10] 14.17%
Interest Rate, PIK 3.50% [9],[10] 3.50%
Par $ 1,503,000 [9],[10] $ 1,432,000 [13]
Amortized cost 1,475,000 [1],[2],[9],[10] 1,387,000 [4],[13]
Fair Value $ 1,452,000 [6],[9],[10] $ 1,376,000 [7],[13]
Percentage of Net Assets 0.40% [9],[10] 1.00% [13]
Investment, Identifier [Axis]: Jitterbit, Inc. | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 9.50%  
Interest Rate [9],[10] 13.55%  
Par [9],[10] $ 154,000  
Amortized cost [1],[2],[9],[10] 150,000  
Fair Value [6],[9],[10] $ 149,000  
Percentage of Net Assets [9],[10] 0.00%  
Investment, Identifier [Axis]: Kelso Industries, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.75% [9],[10],[11] 5.75% [13],[14]
Interest Rate 9.57% [9],[10],[11] 10.09% [13],[14]
Par $ 9,311,000 [9],[10],[11] $ 7,027,000 [13],[14]
Amortized cost 9,163,000 [1],[2],[9],[10],[11] 6,886,000 [4],[13],[14]
Fair Value $ 9,328,000 [6],[9],[10],[11] $ 6,886,000 [7],[13],[14]
Percentage of Net Assets 2.70% [9],[10],[11] 4.80% [13],[14]
Investment, Identifier [Axis]: Likewize Corp. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.75% [9],[10],[11] 5.75% [13],[14]
Interest Rate 9.66% [9],[10],[11] 10.05% [13],[14]
Par $ 5,174,000 [9],[10],[11] $ 5,342,000 [13],[14]
Amortized cost 5,066,000 [1],[2],[9],[10],[11] 5,204,000 [4],[13],[14]
Fair Value $ 5,019,000 [6],[9],[10],[11] $ 5,236,000 [7],[13],[14]
Percentage of Net Assets 1.50% [9],[10],[11] 3.70% [13],[14]
Investment, Identifier [Axis]: Meritum Energy Holdings, LP | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 6.00% [9],[10] 7.50% [13]
Interest Rate 9.84% [9],[10] 11.93% [13]
Par $ 9,230,000 [9],[10] $ 4,198,000 [13]
Amortized cost 9,095,000 [1],[2],[9],[10] 4,115,000 [4],[13]
Fair Value $ 9,129,000 [6],[9],[10] $ 4,114,000 [7],[13]
Percentage of Net Assets 2.70% [9],[10] 2.90% [13]
Investment, Identifier [Axis]: Mist Holding Co. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.25% [9],[10] 5.25% [13]
Interest Rate 8.92% [9],[10] 9.59% [13]
Par $ 7,029,000 [9],[10] $ 4,502,000 [13]
Amortized cost 6,956,000 [1],[2],[9],[10] 4,439,000 [4],[13]
Fair Value $ 7,085,000 [6],[9],[10] $ 4,457,000 [7],[13]
Percentage of Net Assets 2.10% [9],[10] 3.10% [13]
Investment, Identifier [Axis]: Mist Holding Co. | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.25% [9],[10] 5.25% [13]
Interest Rate 8.94% [9],[10] 9.59% [13]
Par $ 281,000 [9],[10] $ 281,000 [13]
Amortized cost 271,000 [1],[2],[9],[10] 270,000 [4],[13]
Fair Value $ 281,000 [6],[9],[10] $ 278,000 [7],[13]
Percentage of Net Assets 0.10% [9],[10] 0.20% [13]
Investment, Identifier [Axis]: Mountainside Fitness Acquisitions, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.00% [9],[10] 5.00% [13]
Interest Rate 8.73% [9],[10] 9.30% [13]
Par $ 2,217,000 [9],[10] $ 2,234,000 [13]
Amortized cost 2,179,000 [1],[2],[9],[10] 2,187,000 [4],[13]
Fair Value $ 2,211,000 [6],[9],[10] $ 2,201,000 [7],[13]
Percentage of Net Assets 0.60% [9],[10] 1.60% [13]
Investment, Identifier [Axis]: NMHP Knoxville Owner | First-lien A-2 Note    
Schedule of Investments [Line Items]    
Reference Rate and Spread [13]   5.50%
Interest Rate [13]   9.00%
Par [13]   $ 5,516,000
Amortized cost [4],[13]   5,516,000
Fair Value [7],[13]   $ 5,516,000
Percentage of Net Assets [13]   3.90%
Investment, Identifier [Axis]: Neo Ark Holdings, LLC | Equity Interest    
Schedule of Investments [Line Items]    
Units [9],[10] 66  
Amortized cost [1],[2],[9],[10] $ 66,000  
Fair Value [6],[9],[10] $ 67,000  
Percentage of Net Assets [9],[10] 0.00%  
Investment, Identifier [Axis]: Neo Ark Holdings, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.25%  
Interest Rate [9],[10] 10.10%  
Par [9],[10] $ 11,155,000  
Amortized cost [1],[2],[9],[10] 10,827,000  
Fair Value [6],[9],[10] $ 10,821,000  
Percentage of Net Assets [9],[10] 3.20%  
Investment, Identifier [Axis]: North American Central School Bus Intermediate Holding Company, LLC | Second-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [10] 12.25%  
Interest Rate [10] 12.25%  
Par [10] $ 3,761,000  
Amortized cost [1],[2],[10] 3,682,000  
Fair Value [6],[10] $ 3,689,000  
Percentage of Net Assets [10] 1.10%  
Investment, Identifier [Axis]: OPLTD Glenwillow, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [13]   12.20%
Interest Rate [13]   12.20%
Par [13]   $ 3,312,000
Amortized cost [4],[13]   3,312,000
Fair Value [7],[13]   $ 3,312,000
Percentage of Net Assets [13]   2.30%
Investment, Identifier [Axis]: One East Camelback, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9] 3.50%  
Interest Rate [9] 7.50%  
Par [9] $ 5,519,000  
Amortized cost [1],[2],[9] 5,519,000  
Fair Value [6],[9] $ 5,486,000  
Percentage of Net Assets [9] 1.60%  
Investment, Identifier [Axis]: PT&C Group, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [13]   5.50%
Interest Rate [13]   9.84%
Par [13]   $ 4,245,000
Amortized cost [4],[13]   4,132,000
Fair Value [7],[13]   $ 4,170,000
Percentage of Net Assets [13]   2.90%
Investment, Identifier [Axis]: PT&C Group, LLC | First-lien loan 1    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.50%  
Interest Rate [9],[10] 9.22%  
Par [9],[10] $ 5,390,000  
Amortized cost [1],[2],[9],[10] 5,314,000  
Fair Value [6],[9],[10] $ 5,374,000  
Percentage of Net Assets [9],[10] 1.60%  
Investment, Identifier [Axis]: PT&C Group, LLC | First-lien loan 2    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.50%  
Interest Rate [9],[10] 9.22%  
Par [9],[10] $ 31,000  
Amortized cost [1],[2],[9],[10] (72,000)  
Fair Value [6],[9],[10] $ 31,000  
Percentage of Net Assets [9],[10] 0.00%  
Investment, Identifier [Axis]: PT&C Group, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.50%  
Interest Rate [9],[10] 9.22%  
Par [9],[10] $ 827,000  
Amortized cost [1],[2],[9],[10] 795,000  
Fair Value [6],[9],[10] $ 825,000  
Percentage of Net Assets [9],[10] 0.20%  
Investment, Identifier [Axis]: Paradigm Parent, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10],[11] 4.50%  
Interest Rate [9],[10],[11] 8.17%  
Par [9],[10],[11] $ 12,307,000  
Amortized cost [1],[2],[9],[10],[11] 11,115,000  
Fair Value [6],[9],[10],[11] $ 10,884,000  
Percentage of Net Assets [9],[10],[11] 3.20%  
Investment, Identifier [Axis]: Payrange, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.00% [9],[10] 5.25% [13]
Interest Rate 8.72% [9],[10] 9.61% [13]
Par $ 6,024,000 [9],[10] $ 2,325,000 [13]
Amortized cost 5,973,000 [1],[2],[9],[10] 2,296,000 [4],[13]
Fair Value $ 5,964,000 [6],[9],[10] $ 2,302,000 [7],[13]
Percentage of Net Assets 1.80% [9],[10] 1.60% [13]
Investment, Identifier [Axis]: SDG Mgmt Company, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.75% [9],[10] 5.50% [13]
Interest Rate 9.66% [9],[10] 0.00% [13]
Par $ 7,535,000 [9],[10] $ 0 [13]
Amortized cost 7,439,000 [1],[2],[9],[10] (78,000) [4],[13]
Fair Value $ 7,535,000 [6],[9],[10] $ 0 [7],[13]
Percentage of Net Assets 2.20% [9],[10] 0.00% [13]
Investment, Identifier [Axis]: SDG Mgmt Company, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.75%  
Interest Rate [9],[10] 9.66%  
Par [9],[10] $ 157,000  
Amortized cost [1],[2],[9],[10] 150,000  
Fair Value [6],[9],[10] $ 157,000  
Percentage of Net Assets [9],[10] 0.00%  
Investment, Identifier [Axis]: Sensei Holdco, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.50%  
Interest Rate [9],[10] 9.17%  
Par [9],[10] $ 7,237,000  
Amortized cost [1],[2],[9],[10] 7,150,000  
Fair Value [6],[9],[10] $ 7,194,000  
Percentage of Net Assets [9],[10] 2.10%  
Investment, Identifier [Axis]: Shutterfly, Inc. | Second-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10],[11] 5.00%  
Interest Rate [9],[10],[11] 8.82%  
Par [9],[10],[11] $ 11,887,000  
Amortized cost [1],[2],[9],[10],[11] 11,336,000  
Fair Value [6],[9],[10],[11] $ 11,389,000  
Percentage of Net Assets [9],[10],[11] 3.30%  
Investment, Identifier [Axis]: Soapy Joe's Midco OC Holdings, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.85%  
Interest Rate [9],[10] 9.57%  
Interest Rate, PIK [9],[10] 1.85%  
Par [9],[10] $ 6,882,000  
Amortized cost [1],[2],[9],[10] 6,822,000  
Fair Value [6],[9],[10] $ 6,827,000  
Percentage of Net Assets [9],[10] 2.00%  
Investment, Identifier [Axis]: Summit Management Partners Intermediate LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.00%  
Interest Rate [9],[10] 8.99%  
Par [9],[10] $ 5,529,000  
Amortized cost [1],[2],[9],[10] 5,420,000  
Fair Value [6],[9],[10] $ 5,447,000  
Percentage of Net Assets [9],[10] 1.60%  
Investment, Identifier [Axis]: Syniverse Holdings, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10],[11] 7.00%  
Interest Rate [9],[10],[11] 10.67%  
Par [9],[10],[11] $ 10,890,000  
Amortized cost [1],[2],[9],[10],[11] 10,620,000  
Fair Value [6],[9],[10],[11] $ 10,555,000  
Percentage of Net Assets [9],[10],[11] 3.10%  
Investment, Identifier [Axis]: TMC Buyer Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [13],[14]   5.00%
Interest Rate [13],[14]   9.57%
Par [13],[14]   $ 4,629,000
Amortized cost [4],[13],[14]   4,580,000
Fair Value [7],[13],[14]   $ 4,670,000
Percentage of Net Assets [13],[14]   3.30%
Investment, Identifier [Axis]: Tank Holding Corp. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.75% [9],[10],[11] 5.75% [13],[14]
Interest Rate 9.57% [9],[10],[11] 10.25% [13],[14]
Par $ 7,153,000 [9],[10],[11] $ 2,211,000 [13],[14]
Amortized cost 6,997,000 [1],[2],[9],[10],[11] 2,191,000 [4],[13],[14]
Fair Value $ 6,610,000 [6],[9],[10],[11] $ 2,178,000 [7],[13],[14]
Percentage of Net Assets 1.90% [9],[10],[11] 1.50% [13],[14]
Investment, Identifier [Axis]: The Marlowe Apartments, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [10],[15] 11.00%  
Interest Rate [10],[15] 11.00%  
Par [10],[15] $ 2,722,000  
Amortized cost [1],[2],[10],[15] 2,722,000  
Fair Value [6],[10],[15] $ 2,735,000  
Percentage of Net Assets [10],[15] 0.80%  
Investment, Identifier [Axis]: The Marlowe Apartments, LLC | Preferred    
Schedule of Investments [Line Items]    
Par  
Units 445  
Amortized cost [1],[2] $ 445,000  
Fair Value [6] $ 469,000  
Percentage of Net Assets 0.10%  
Investment, Identifier [Axis]: The Nordam Group, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.75%  
Interest Rate [9],[10] 9.57%  
Par [9],[10] $ 10,587,000  
Amortized cost [1],[2],[9],[10] 10,391,000  
Fair Value [6],[9],[10] $ 10,343,000  
Percentage of Net Assets [9],[10] 3.00%  
Investment, Identifier [Axis]: TickPick Intermediate Holdings, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.00% [9],[10] 5.25% [13]
Interest Rate 8.67% [9],[10] 9.58% [13]
Par $ 3,054,000 [9],[10] $ 3,069,000 [13]
Amortized cost 3,002,000 [1],[2],[9],[10] 3,006,000 [4],[13]
Fair Value $ 3,084,000 [6],[9],[10] $ 3,032,000 [7],[13]
Percentage of Net Assets 0.90% [9],[10] 2.10% [13]
Investment, Identifier [Axis]: Top Rx, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.25% [9],[10] 5.25% [13]
Interest Rate 8.95% [9],[10] 9.60% [13]
Par $ 9,433,000 [9],[10] $ 9,528,000 [13]
Amortized cost 9,279,000 [1],[2],[9],[10] 9,317,000 [4],[13]
Fair Value $ 9,141,000 [6],[9],[10] $ 9,337,000 [7],[13]
Percentage of Net Assets 2.70% [9],[10] 6.60% [13]
Investment, Identifier [Axis]: Top Rx, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 5.25%  
Interest Rate [9],[10] 8.92%  
Par [9],[10] $ 528,000  
Amortized cost [1],[2],[9],[10] 511,000  
Fair Value [6],[9],[10] $ 512,000  
Percentage of Net Assets [9],[10] 0.20%  
Investment, Identifier [Axis]: Trugreen Limited Partnership | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10],[11] 4.00%  
Interest Rate [9],[10],[11] 7.82%  
Par [9],[10],[11] $ 10,914,000  
Amortized cost [1],[2],[9],[10],[11] 10,483,000  
Fair Value [6],[9],[10],[11] $ 10,719,000  
Percentage of Net Assets [9],[10],[11] 3.10%  
Investment, Identifier [Axis]: US Signal Company, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 5.50% [9],[10] 5.50% [13]
Interest Rate 9.40% [9],[10] 10.07% [13]
Par $ 3,063,000 [9],[10] $ 2,489,000 [13]
Amortized cost 3,036,000 [1],[2],[9],[10] 2,455,000 [4],[13]
Fair Value $ 3,070,000 [6],[9],[10] $ 2,479,000 [7],[13]
Percentage of Net Assets 0.90% [9],[10] 1.70% [13]
Investment, Identifier [Axis]: Ultraviolet Cyber Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.00%  
Interest Rate [9],[10] 9.84%  
Par [9],[10] $ 4,972,000  
Amortized cost [1],[2],[9],[10] 4,818,000  
Fair Value [6],[9],[10] $ 4,873,000  
Percentage of Net Assets [9],[10] 1.40%  
Investment, Identifier [Axis]: Univista Intermediate Holdco, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10],[16] 6.51%  
Interest Rate [9],[10],[16] 10.23%  
Par [9],[10],[16] $ 3,307,000  
Amortized cost [1],[2],[9],[10],[16] 3,246,000  
Fair Value [6],[9],[10],[16] $ 3,284,000  
Percentage of Net Assets [9],[10],[16] 1.00%  
Investment, Identifier [Axis]: Vacation Rental Brands, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [13]   5.25%
Interest Rate [13]   9.58%
Par [13]   $ 3,334,000
Amortized cost [4],[13]   3,304,000
Fair Value [7],[13]   $ 3,303,000
Percentage of Net Assets [13]   2.30%
Investment, Identifier [Axis]: Vacation Rental Brands, LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [13]   5.25%
Interest Rate [13]   9.58%
Par [13]   $ 95,000
Amortized cost [4],[13]   92,000
Fair Value [7],[13]   $ 94,000
Percentage of Net Assets [13]   0.10%
Investment, Identifier [Axis]: Vehicle Management Services LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.25%  
Interest Rate [9],[10] 10.08%  
Par [9],[10] $ 8,501,000  
Amortized cost [1],[2],[9],[10] 8,379,000  
Fair Value [6],[9],[10] $ 8,374,000  
Percentage of Net Assets [9],[10] 2.50%  
Investment, Identifier [Axis]: Vehicle Management Services LLC | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 6.25%  
Interest Rate [9],[10] 10.08%  
Par [9],[10] $ 489,000  
Amortized cost [1],[2],[9],[10] 477,000  
Fair Value [6],[9],[10] $ 481,000  
Percentage of Net Assets [9],[10] 0.10%  
Investment, Identifier [Axis]: Vision Solutions, Inc. | Second-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10],[11] 7.25%  
Interest Rate [9],[10],[11] 11.35%  
Par [9],[10],[11] $ 10,864,000  
Amortized cost [1],[2],[9],[10],[11] 10,354,000  
Fair Value [6],[9],[10],[11] $ 10,018,000  
Percentage of Net Assets [9],[10],[11] 2.90%  
Investment, Identifier [Axis]: WHI Global, Inc. | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 8.75%  
Interest Rate [9],[10] 12.73%  
Par [9],[10] $ 2,589,000  
Amortized cost [1],[2],[9],[10] 2,567,000  
Fair Value [6],[9],[10] $ 2,589,000  
Percentage of Net Assets [9],[10] 0.80%  
Investment, Identifier [Axis]: WHI Global, Inc. | First-lien revolving loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread [9],[10] 8.75%  
Interest Rate [9],[10] 12.73%  
Par [9],[10] $ 209,000  
Amortized cost [1],[2],[9],[10] 205,000  
Fair Value [6],[9],[10] $ 209,000  
Percentage of Net Assets [9],[10] 0.10%  
Investment, Identifier [Axis]: Willow Breeze, LLC | First-lien loan    
Schedule of Investments [Line Items]    
Reference Rate and Spread 6.25% [9],[10] 6.25% [13]
Interest Rate [9],[10] 10.75% [13]
Interest Rate, PIK [9],[10] 10.75%  
Par $ 6,577,000 [9],[10] $ 5,135,000 [13]
Amortized cost 6,576,000 [1],[2],[9],[10] 5,131,000 [4],[13]
Fair Value $ 6,577,000 [6],[9],[10] $ 5,119,000 [7],[13]
Percentage of Net Assets 1.90% [9],[10] 3.70% [13]
[1] As of December 31, 2025, the estimated cost basis of investments for U.S. federal tax purposes was $465.0 million resulting in estimated gross unrealized gains and losses of $1.6 million and $3.3 million, respectfully.
[2] The amortized cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.
[3] Unless otherwise indicated, the Company’s portfolio companies are domiciled in the United States. Under the 1940 Act, the Company would “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or had the power to exercise control over the management or policies of such portfolio company. As of December 31, 2025, the Company does not “control” any of the portfolio companies. Also under the 1940 Act, the Company would be deemed to be an “Affiliated Person” of a portfolio company if the Company owns more than 5% of the portfolio company's outstanding voting securities. As of December 31, 2025, the Company does not identify any of its portfolio companies as affiliates.
[4] The amortized cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.
[5] Unless otherwise indicated, the Company’s portfolio companies are domiciled in the United States. Under the 1940 Act, the Company would “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or had the power to exercise control over the management or policies of such portfolio company. As of December 31, 2024, the Company did not “control” any of the portfolio companies. Also under the 1940 Act, the Company would be deemed to be an “Affiliated Person” of a portfolio company if the Company owns more than 5% of the portfolio company’s outstanding voting securities. As of December 31, 2024, the Company did not identify any of its portfolio companies as affiliates. The amortized cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.
[6] In accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 820, Fair Value Measurements (“ASC Topic 820”), unless otherwise indicated, the fair values of all investments were determined using significant unobservable inputs and are considered Level 3 investments. See Note 5 for further information related to investments at fair value.
[7] In accordance with ASC Topic 820, unless otherwise indicated, the fair values of all investments were determined using significant unobservable inputs and are considered Level 3 investments. See Note 5 for further information related to investments at fair value.
[8] As of December 31, 2024, Crestline Lending Solutions, LLC (the “Company”) had not yet elected to be regulated as a business development company (“BDC”), and was operating as Crestline Lending Solutions Ramp, LLC (the “Ramp Vehicle”), a private fund based on an exception from the definition of "investment company" under Section 3(c)(7) of the Investment Company Act of 1940, as amended (the “1940 Act”).
[9] Investment contains a variable rate structure, subject to an interest rate floor. Variable rate investments bear interest at a rate that may be determined by reference to Term Secured Overnight Financing Rate (“SOFR”), which may also contain a credit spread adjustment depending on the tenor election, selected at the borrower’s option, which reset periodically based on the terms of the credit agreement. For investments with multiple interest rate contracts, the interest rate shown is the weighted average interest rate in effect at December 31, 2025.
[10] Investment, or a portion thereof, is held by CL LSF SPV I, LLC, and is pledged as collateral supporting the amounts outstanding under the SPV Credit Facility (see Note 6).
[11] This investment is valued using observable inputs and is considered a Level 2 investment. See Note 5 for further information related to investments at fair value.
[12] This portfolio company is considered a "non-qualifying asset" under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of the Company's total assets. Non-qualifying assets at fair value represented 6.6% of total assets as of December 31, 2025.
[13] Investment contains a variable rate structure, subject to an interest rate floor. Variable rate investments bear interest at a rate that may be determined by reference to Term SOFR, which may also contain a credit spread adjustment depending on the tenor election, selected at the borrower’s option, which reset periodically based on the terms of the credit agreement. For investments with multiple interest rate contracts, the interest rate shown is the weighted average interest rate in effect at December 31, 2024.
[14] This investment is valued using observable inputs and is considered a Level 2 investment. See Note 5 for further information related to investments at fair value.
[15] This investment is non-income producing.
[16] In addition to the interest earned based on the stated interest rate of this investment, which is the amount reflected in this schedule, the Company may be entitled to receive additional interest as a result of an arrangement with other members in the syndicate to the extent an investment has been allocated to “first out” and “last out” tranches, whereby the “first out” tranche will have priority as to the “last out” tranche with respect to payments of principal, interest and any amounts due thereunder and the Company holds the “last out” tranche.