v3.26.1
Transactions with Affiliated Investments
 3 Months Ended
Mar. 31, 2026
Investments in and Advances to Affiliates [Abstract]  
Transactions with Affiliated Investments

Note 5—Transactions with Affiliated Investments

A non-controlled affiliated investment is an investment in which the Fund has an ownership interest of 5% or more of its voting securities. A controlled affiliate investment is an investment in which the Fund has an ownership interest of more than 25% of its voting securities. Please see the Fund’s consolidated schedule of investments for the type of investment, principal amount/shares and interest rate including the spread and the maturity date. Transactions related to the Fund's investments with affiliates for the three months ended March 31, 2026 were as follows:

 

Portfolio Company

 

Type of Asset

 

Amount of interest included in income

 

 

Beginning Fair Value at December 31, 2025

 

 

Gross additions(1)

 

 

Gross reductions(2)

 

 

Realized Gain/(Loss)

 

 

Change in Unrealized Gain (Loss)

 

 

Fair Value at March 31, 2026

 

Affiliated investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Calidris Investment Partners Holdings Ltd - Preferred Equity (3)

 

Equity Investment

 

$

—

 

 

$

5,400

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

210

 

 

$

5,610

 

Calidris Investment Partners Holdings Ltd - Term Loan (3)

 

First Lien Senior Secured

 

 

29

 

 

 

8,107

 

 

 

29

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

8,146

 

ORECV, LLC - Membership Interest

 

Equity Investment

 

 

—

 

 

 

2,458

 

 

 

—

 

 

 

(569

)

 

 

—

 

 

 

74

 

 

 

1,963

 

Total affiliated Investments

 

 

 

$

29

 

 

$

15,965

 

 

$

29

 

 

$

(569

)

 

$

—

 

 

$

294

 

 

$

15,719

 

 

(1)
Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities, and the movement of an existing portfolio company into this category from a different category.
(2)
Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities, and the movement of an existing portfolio company out of this category into a different category.
(3)
As defined in the 1940 Act, the Fund is deemed to be both an “Affiliated Person” of and to “Control” this portfolio company as it owns more than 25% of the portfolio company’s voting securities.

Other than the investments disclosed above, the Fund did not have any additional affiliated or controlled investments, as defined under the 1940 Act, as of March 31, 2026, or during the three months then ended.

For the three months ended March 31, 2025, the Fund held no investments that were deemed affiliated or controlled.