Derivatives (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Company's Net Exposure to Derivative Contracts that are Subject to ISDA Master Agreements or Similar Agreements

The following table sets forth the Company’s net exposure to derivative contracts that are subject to ISDA Master Agreements or similar agreements (in thousands):


Reporting Date	Counterparty	Gross Amount of Assets on the Consolidated Statements of Assets and Liabilities		Gross Amount of (Liabilities) on the Consolidated Statements of Assets and Liabilities			Net Amount of Assets or (Liabilities)			Collateral (Received) Pledged (1)		Net Amounts (2)
June 30, 2026	Wells Fargo Bank, N.A.	$	1,255	$	(1,756	)	$	(501	)	$	440	$	(61	)
June 30, 2026	Goldman Sachs Bank USA	$	—	$	(3,040	)	$	(3,040	)	$	3,560	$	520
December 31, 2025	Wells Fargo Bank, N.A.	$	2,135	$	(2,134	)	$	1		$	—	$	1

(1)

Amount excludes excess cash collateral paid.

(2)

Net amount represents the net amount due (to) from counterparty in the event of a default based on the contractual setoff rights under the agreement. Net amount excludes any over-collateralized amounts.

Schedule of Effect of Transactions in Derivative Instruments to the Consolidated Statements of Operations

The effect of transactions in derivative instruments to the Consolidated Statements of Operations was as follows (in thousands):


	For the three months ended June 30,						For the six months ended June 30,
	2026			2025			2026			2025
Net realized gain (loss) on foreign currency forward contracts	$	203		$	-		$	203		$	-
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts		(427	)		(5,120	)		(502	)		(5,977	)
Total net realized and unrealized gains (losses) on foreign currency forward contracts	$	(224	)	$	(5,120	)	$	(299	)	$	(5,977	)

The Company's interest rate swaps have been designated in a qualifying hedge accounting relationship. Net realized and unrealized gains and losses for the six months ended June 30, 2026 and 2025, for the Company’s interest rate swap, are in the following locations in the Consolidated Statement of Operations:


	For the three Months Ended June 30,							For the six Months Ended June 30,						Financial Statement Location
			2026			2025			2026			2025
Interest rate swaps		$		142		$	-	$		139		$	-	Interest and debt financing expenses
Hedged items				(51	)		-			(28	)		-	Interest and debt financing expenses

Net realized and unrealized gains and losses on derivative instruments

Net realized and unrealized gains and losses for the six months ended June 30, 2026 and 2025, for the Company’s interest rate swap, are in the following locations in the Consolidated Statement of Operations:


	For the three Months Ended June 30,							For the six Months Ended June 30,						Financial Statement Location
			2026			2025			2026			2025
Interest rate swaps		$		142		$	-	$		139		$	-	Interest and debt financing expenses
Hedged items				(51	)		-			(28	)		-	Interest and debt financing expenses