| Commitments and Contingencies |
8. Commitments and Contingencies Portfolio Company Commitments From time to time, the Company may enter into commitments to fund investments; such commitments are incorporated into the Company’s assessment of its liquidity position. The Company’s senior secured revolving loan commitments are generally available on a borrower’s demand and may remain outstanding until the maturity date of the applicable loan. The Company’s senior secured delayed draw term loan commitments are generally available on a borrower’s demand and, once drawn, generally have the same remaining term as the associated loan agreement. Undrawn senior secured delayed draw term loan commitments generally have a shorter availability period than the term of the associated loan agreement. As of March 31, 2026 and December 31, 2025, the Company had the following commitments to fund investments in current portfolio companies:
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March 31, 2026 |
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December 31, 2025 |
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Alaska Bidco Oy - Delayed Draw & Revolver |
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$ |
241 |
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$ |
246 |
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Aledade, Inc. - Revolver |
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22,750 |
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24,136 |
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American Achievement, Corp. - Revolver |
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2,403 |
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2,403 |
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Arcwood Environmental, Inc. - Revolver |
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1,815 |
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1,815 |
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Arrowhead Pharmaceuticals, Inc. - Delayed Draw |
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26,645 |
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27,643 |
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Artisan Bidco, Inc. - Revolver |
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1,429 |
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1,429 |
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AVSC Holding Corp. - Revolver |
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3,963 |
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4,833 |
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Azurite Intermediate Holdings, Inc. - Revolver & Equity |
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5,575 |
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5,575 |
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Bayshore Intermediate #2, L.P. - Revolver |
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2,734 |
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2,734 |
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BCTO Ace Purchaser, Inc. - Delayed Draw & Revolver |
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324 |
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324 |
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Cirrus (Bidco) Ltd - Delayed Draw |
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440 |
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448 |
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Cordance Operations, LLC - Delayed Draw & Revolver |
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2,053 |
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2,594 |
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Coupa Holdings, LLC - Delayed Draw & Revolver |
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6,809 |
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6,809 |
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Crewline Buyer, Inc. - Revolver & Equity |
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6,148 |
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6,148 |
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EDB Parent, LLC - Delayed Draw |
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3,621 |
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5,603 |
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Elysian Finco Ltd. - Revolver |
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1,070 |
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|
764 |
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EMS Linq, Inc. - Revolver |
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5,481 |
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5,868 |
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Erling Lux Bidco SARL - Delayed Draw & Revolver |
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5,466 |
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6,134 |
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Eventus Buyer, LLC - Delayed Draw & Revolver |
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10,733 |
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8,633 |
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ExtraHop Networks, Inc. - Revolver |
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223 |
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446 |
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Flight Intermediate HoldCo, Inc. - Delayed Draw |
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30,893 |
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32,131 |
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Galileo Parent, Inc. - Revolver |
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— |
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3,462 |
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Greenshoot Bidco B.V. - Revolver |
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362 |
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461 |
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Hippo XPA Bidco AB - Delayed Draw & Revolver |
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9,103 |
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9,407 |
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HireVue, Inc. - Delayed Draw |
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7,643 |
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— |
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HMP Omnimedia, LLC - Delayed Draw & Revolver |
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10,227 |
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9,818 |
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Ingenovis Health Finance, LLC - Revolver |
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32,500 |
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32,500 |
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IRGSE Holding Corp. - Revolver |
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3,337 |
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5,707 |
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Kahua, Inc. - Delayed Draw |
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— |
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5,000 |
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Kangaroo Bidco AS - Delayed Draw |
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4,375 |
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4,375 |
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Kaseware Intermediate Holding Company - Delayed Draw & Revolver |
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4,910 |
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6,749 |
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Kryptona BidCo US, LLC - Revolver |
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2,165 |
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2,165 |
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LeanTaaS Holdings, Inc. - Delayed Draw |
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11,520 |
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12,015 |
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Leg Purchaser Inc. - Revolver |
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5,478 |
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— |
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LIHA Holdco B.V. - Delayed Draw & Revolver |
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157 |
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753 |
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Lynx BidCo - Delayed Draw & Revolver |
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6,733 |
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6,733 |
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Marcura Equities LTD - Revolver |
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1,667 |
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1,667 |
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MindBody, Inc. - Revolver |
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3,611 |
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— |
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Omnigo Software, LLC - Delayed Draw & Revolver |
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1,875 |
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1,875 |
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PDI TA Holdings, Inc. - Revolver |
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109 |
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437 |
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Rail Acquisitions LLC - Delayed Draw & Revolver |
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5,660 |
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5,660 |
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RainFocus, LLC - Delayed Draw |
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3,752 |
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5,322 |
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Rapid Data GmbH Unternehmensberatung - Delayed Draw & Revolver |
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1,208 |
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1,231 |
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Raptor US Buyer II Corp. - Revolver |
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600 |
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600 |
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Sapphire Software Buyer, Inc. - Revolver |
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3,243 |
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3,243 |
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Scorpio Bidco - Delayed Draw |
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564 |
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575 |
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Sediver S.p.A. - Delayed Draw |
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4,035 |
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4,113 |
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Severin Acquisition, LLC - Delayed Draw & Revolver |
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3,783 |
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4,380 |
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Shiftmove GmbH - Delayed Draw |
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9,981 |
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10,174 |
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SMA Technologies Holdings, LLC - Revolver |
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1,009 |
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1,009 |
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Sport Alliance GmbH - Revolver |
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480 |
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489 |
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Structured Credit Partners JV, LLC - Equity |
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185,336 |
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— |
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Tango Management Consulting, LLC - Delayed Draw & Revolver |
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22,070 |
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23,799 |
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TRP Assets, LLC - Delayed Draw |
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10,166 |
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10,166 |
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TS Imagine Inc. - Revolver |
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434 |
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768 |
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USA Debusk LLC - Delayed Draw & Revolver |
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1,038 |
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2,519 |
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Varinem German Bidco GmbH - Delayed Draw |
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3,875 |
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4,917 |
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Velocity Clinical Research, Inc. - Delayed Draw & Revolver |
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7,949 |
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8,814 |
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Wrangler Topco, LLC - Delayed Draw & Revolver |
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626 |
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|
888 |
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Total Portfolio Company Commitments (1)(2) |
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$ |
512,397 |
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$ |
338,507 |
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(1)Represents the full amount of the Company’s commitments to fund investments on such date. Commitments may be subject to limitations on borrowings set forth in the agreements between the Company and the applicable portfolio company. As a result, portfolio companies may not be eligible to borrow the full commitment amount on such date. (2)The Company’s estimate of the fair value of the current investments in these portfolio companies includes an analysis of the fair value of any unfunded commitments. Other Commitments and Contingencies As of March 31, 2026 and December 31, 2025, the Company did not have any unfunded commitments to fund investments to new borrowers that were not current portfolio companies as of such date. From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2026 and December 31, 2025, management is not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.
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