| Commitments and Contingencies |
Commitments and Contingencies Commitments The Company’s investment portfolio contains debt investments that are in the form of revolving lines of credit and unfunded delayed draw commitments, which require the Company to provide funding when requested by portfolio companies in accordance with the terms of the underlying loan agreements. Unfunded portfolio company commitments and funded debt investments are presented on the consolidated schedule of investments and are fair valued. Unrealized appreciation or depreciation, if any, is included in the consolidated statements of assets and liabilities and consolidated statements of operations. As of June 30, 2026 and December 31, 2025, the Company had the following outstanding commitments to fund investments in current portfolio companies: | | | | | | | | | | Portfolio Company | June 30, 2026 | December 31, 2025 | | First lien senior secured debt | (Amounts in thousands) | (Amounts in thousands) | | 3BC Matrix Acquisition, LLC | $ | — | | $ | 1,564 | | | 50Floor, LLC | 199 | | 106 | | | A. P. Nonweiler Co. Inc. | 1,523 | | 1,523 | | | A.P.A Industries, LLC | — | | 1,979 | | | Abrasive Technology Intermediate, LLC | — | | 138 | | | ACES Intermediate, LLC | — | | 7,114 | | | ACS Midco LLC | 8,419 | | — | | | ADC Purchaser Inc | 3,458 | | 6,013 | | | Advanced Lighting Acquisition, LLC | — | | 1,215 | | | ADVI Health, LLC | — | | 1,062 | | | Advocate RCM Acquisition Corp | 2,902 | | 2,902 | | | AEP Passion Intermediate Holdings, Inc. | 39 | | 32 | | | AFC Industries, Inc. | — | | 14,262 | | | AFC-Dell Holding Corp | 10,885 | | — | | | Affinitiv, Inc. | 186 | | 186 | | | Agility Intermediate, Inc. | 27 | | 27 | | | AHR Intermediate, Inc | 7,978 | | 16,679 | | | AirPro Diagnostics, LLC | 3,118 | | 4,332 | | | AKS Engineering and Forestry, LLC | — | | 2,890 | | | Alcresta Buyer, Inc | 22,412 | | 39,224 | | | Aligned Dental Management Services, LLC | — | | 3,997 | | | Alliance Environmental Group, LLC | 2 | | 19 | | | Allied Credit Acquisition Corp | 7,544 | | — | | | AlphaCoin LLC | 2,610 | | 7,119 | | | Altamira Material Solutions, LP | 26 | | — | | | AM Buyer, LLC | 851 | | 851 | | | AMCP SAMGI Intermediate, Inc | 12,910 | | 16,368 | | | AMCP Treatment Intermediate, LLC | 6,608 | | 9,653 | | | American Family Care, LLC | 6,482 | | 17,337 | | | Ansira Partners II, LLC | 3,992 | | 6,142 | | | Answer Acquisition, LLC | 268 | | 531 | |
| | | | | | | | | | Portfolio Company | June 30, 2026 | December 31, 2025 | | Aptitude Health Holdings, LLC | — | | 223 | | | Aquatic Sales Solutions, LLC | 58 | | 58 | | | ARC Health OPCO, LLC | 9,543 | | 13,138 | | | Arctic Acquisition Sub, LLC | 11,782 | | — | | | ASC Ortho Management, LLC | — | | 7 | | | Ascend Plastic Surgery Partners MSO LLC | 4,197 | | 19,880 | | | Ascent Lifting, Inc. | — | | 2,500 | | | ASP Global Holdings, LLC | 5,502 | | 6,595 | | | Assembly Holdco, LLC | 5,555 | | — | | | AWI Group, LLC | 5,418 | | 2,918 | | | Baker Manufacturing Company, LLC | — | | 2,898 | | | Banner Buyer, LLC | 259 | | 259 | | | Barkley, LLC | 2,300 | | 2,300 | | | BBG Intermediate Holdings, Inc. | 4 | | 4 | | | BCI Burke Holding Corp. | 6,588 | | 9,036 | | | Beacon Oral Specialists Management LLC | 10,833 | | 14,407 | | | Beghou Consulting, LLC | — | | 2,290 | | | Best Version Media Acquisition, LLC | — | | 2,897 | | | Bestop, Inc | — | | 12,499 | | | Bluebird Parent, INC | 5,821 | | — | | | BPCP EE Intermedco LLC | 1,282 | | 2,244 | | | BPCP NSA Intermedco, Inc | 4,954 | | 14,883 | | | BPCP WLF Intermedco LLC | 2,132 | | 9,170 | | | Brightview, LLC | 8,512 | | 10 | | | Brite Acquisition, LLC | 6,125 | | — | | | BSC ASI BUYER, LLC | — | | 3,661 | | | BSC Top Shelf Blocker LLC | — | | 2,256 | | | Bulk Lift International, LLC | 189 | | 1,543 | | | Canadian Orthodontic Partners Corp | 28 | | 29 | | | CAP KSI Holdings LLC | — | | 4,287 | | | Capital Construction, LLC | — | | 9,173 | | | Capstone Mechanical LLC | 2,670 | | 7,563 | | | Captive Radiology Acquisition, LLC | 4,629 | | — | | | Centennial Environmental Acquisition, LLC | 9,214 | | — | | | Change Academy at Lake of the Ozarks, LLC | — | | 2,870 | | | CHS Holdco, LLC | 10,542 | | 12,775 | | | CL Services Acquisition, LLC | 13,410 | | 27,625 | | | CNS Purchaser, LLC | 17,376 | | 15,271 | | | Compass Restoration Intermediary Holdings, LLC | 1,744 | | 2,961 | | | CPS Power Buyer, LLC | 5,541 | | 7,303 | | | CR Services Intermediate, LLC | 30 | | 11 | | | Creative Outdoor Holding Inc | 8,741 | | 12,909 | | | CSL Intermediate Acquisition LLC | 3,564 | | 4,819 | | | Custom Agronomics Holdings, LLC | — | | 2,232 | | | DASCO HME, LLC | 4,170 | | 7,891 | |
| | | | | | | | | | Portfolio Company | June 30, 2026 | December 31, 2025 | | Datum Acquisition, LLC | 2,146 | | 2,146 | | | DealerOn Inc. | — | | 314 | | | DemandTec, LLC | 5,210 | | 4,984 | | | Dermatology Medical Partners OpCo, LLC | 9 | | 9 | | | Diamondback Buyer, LLC | — | | 75 | | | DNS IMI Acquisition Corp | — | | 56 | | | Double E Company, LLC | 230 | | 1,382 | | | Duggal Acquisition, LLC | 2,612 | | 12,543 | | | Dykstra's Auto, LLC | 6,657 | | 23,732 | | | Dynamic Campus Acquisition, Inc. | 9,698 | | 13,264 | | | Eastern Communications Solutions, Inc. | 3,240 | | 3,240 | | | EH Management Company, LLC | — | | 2,505 | | | ELMC RX Solutions, LLC | 5,112 | | 5,112 | | | EMSAR Acquisition LLC | 53 | | — | | | Endodontic Practice Partners, LLC | 4,130 | | 12,123 | | | E-Phoenix Acquisition Co. Inc. | — | | 2,984 | | | Esquire Deposition Solutions, LLC | — | | 7,666 | | | Ever Fresh Fruit Company, LLC | 1,380 | | 1,380 | | | Exclusive Concepts, LLC | 11 | | 3,343 | | | ExperCare Management, LLC | 5,555 | | — | | | Fastlap, LLC | 23 | | 338 | | | First Steps Recovery Acquisition, LLC | 18,828 | | 22,409 | | | Formulated Buyer, LLC | 39 | | 76 | | | Foundation Repair Purchaser, INC. | 15,220 | | — | | | Franchise Fastlane, LLC | 15 | | 15 | | | FreshAddress, LLC | — | | 30 | | | FYZICAL Buyer, LLC | 1,107 | | 1,107 | | | Genius Bidco LLC | 3,571 | | 7,755 | | | Geriatric Medical and Surgical Supply, LLC | — | | 300 | | | Gifthealth, Inc. | — | | 10,835 | | | GM Services Buyer, LLC | 4,836 | | 9,997 | | | Gold Medal Holdings, Inc. | — | | 2,668 | | | Golden Bear PT Partners, LLC | 6,115 | | 17 | | | GPSTrackit Holdings, LLC | — | | 2,067 | | | Green Monster Acquisition, LLC | 17 | | 23 | | | GS XX Corporation | — | | 2,381 | | | Guardian Dentistry Practice Management, LLC | 10,617 | | 3,351 | | | H2 Holdco, Inc. | 7,123 | | 13,098 | | | Harley Exteriors Acquisition, LLC | 1,541 | | 2,423 | | | Health and Wellness Partners LLC | 1,162 | | 8,288 | | | HEC Purchaser Corp. | — | | 8,250 | | | Helpware, Inc. | — | | 1,754 | | | Highland Acquisition, Inc. | 1,217 | | 1,771 | | | HLSG Intermediate, LLC | — | | 2,496 | | | Home Brands Group Holdings, Inc. | — | | 48 | |
| | | | | | | | | | Portfolio Company | June 30, 2026 | December 31, 2025 | | HTI Intermediate, LLC | 1,553 | | 2,070 | | | Hultec Buyer, LLC | — | | 705 | | | Hydromax USA, LLC | 191 | | 1,435 | | | Icelandirect, LLC | 796 | | 3,189 | | | Icreon Holdings, LLC | 179 | | 1,071 | | | IMA Group Management Company, LLC | 4,091 | | 4,105 | | | Infolinks Media Buyco, LLC | 11 | | 11 | | | Innovate 32 Services, LLC | 6,449 | | 22,209 | | | Innovative Discovery Acquisition, LLC | 8,901 | | 10,677 | | | Innovative FlexPak, LLC | 104 | | 230 | | | Inreach Intermediate Holdings II, LLC | 5,033 | | 6,733 | | | IPC Pain Acquisition, LLC | — | | 1,140 | | | Ironhorse Purchaser, LLC | 730 | | 5,813 | | | ISSA, LLC | — | | 92 | | | Jacent Strategic Merchandising, LLC | — | | 1,330 | | | Johns Byrne LLC | — | | 1,460 | | | Juniper Landscaping Holdings LLC | 3,628 | | 8,360 | | | K-1 Packaging Group, LLC. | 6,242 | | 5,483 | | | Kaizen Auto Care, LLC | — | | 6 | | | Keystone Partners, LLC | — | | 2,753 | | | Kittyhawk, Inc | — | | 3,571 | | | Kravet Design LLC | — | | 4,349 | | | Kwalu, LLC | 4,386 | | 3,374 | | | L&J Holding Company LLC | 9,408 | | 8,490 | | | Lakeshirts LLC | 7,989 | | 16,435 | | | Lawn Care Holdings Purchaser, Inc | 3,840 | | 6,696 | | | Lehman Pipe Buyer, LLC | 217 | | 8,057 | | | Livefront, LLC | 4,188 | | 6,730 | | | Load One Purchaser Corporation | 2,650 | | 3,344 | | | LSOMS Acquisition, LLC | 5,555 | | — | | | MacKenzie Childs Acquisition, Inc. | — | | 3,374 | | | MacNeill Pride Group Corp. | — | | 287 | | | Mad Rose Company, LLC | — | | 253 | | | Mattco Forge, Inc. | — | | 1,230 | | | Mearthane Products, LLC | 1,651 | | — | | | MediaMint Inc | 2,128 | | 2,128 | | | Medical Technology Associates, LLC | — | | 1,550 | | | Merge USA, Inc | 1,509 | | 2,515 | | | MetaSource, LLC | 45 | | 38 | | | Milestone Technologies, Inc | 2,918 | | 5,513 | | | Millennia Patient Services, LLC | 60 | | 80 | | | Monument Policy Group Holdings | 1,485 | | — | | | MRC Keeler Acquisition, LLC | 150 | | 150 | | | MS Pain, LLC | 2,350 | | 6,899 | | | MWEC Management, LLC | 1,608 | | 4,168 | |
| | | | | | | | | | Portfolio Company | June 30, 2026 | December 31, 2025 | | My Buyer, LLC | — | | 2,360 | | | Nasco Healthcare Inc. | — | | 2,203 | | | NEFCO Holding Company, LLC | — | | 4,753 | | | NEPEZ Acquisition, LLC | 8,695 | | 56 | | | Network Partners Acquisition, LLC | — | | 38 | | | Nimlok Company, LLC | — | | 1,498 | | | North & Warren, LLC | — | | 954 | | | NutriScience Innovations, LLC | — | | 131 | | | NWI Merger Sub, Inc | 5,150 | | 8,933 | | | OneCare LTC, LLC | — | | 2,121 | | | Optimized Marketing Acquisition, LLC | 790 | | 1,066 | | | Outerbox, LLC | 2,280 | | 2,830 | | | P and R Dental Strategies, LLC | — | | 14 | | | P1 DENTAL MSO, LLC | 1,507 | | 3,468 | | | Palmetto Technology Group, LLC | 9,479 | | 7,281 | | | Peak Dental Services, LLC | — | | 66 | | | Peak Investment Holdings, LLC | 65 | | 65 | | | Peninsula MMGY Corporation | — | | 3,395 | | | PharmaForceIQ INC. | — | | 2,093 | | | PHGP MB Purchaser, Inc. | 44 | | 63 | | | Pink Lily Holdings, LLC | — | | 15 | | | Polaris Labs Acquisition, LLC | — | | 2,123 | | | Polycorp Ltd | — | | 10,261 | | | PPW Acquisition, LLC | 19 | | 26 | | | PRA Acquisition, LLC | — | | 56 | | | Precision Point Metrics, Inc | 3,063 | | 5,093 | | | Premier Early Childhood Education Partners LLC | 12,477 | | 2,813 | | | Premier Produce One, LLC | 10,460 | | 14,432 | | | PRM Management Company, LLC | — | | 1,969 | | | Purpose Home Health Acquisition, LLC | — | | 9,999 | | | Qin's Buffalo, LLC | — | | 2,393 | | | Quality Liaison Services of North America, Inc | 1,629 | | 912 | | | Raffel Systems, LLC | 9,408 | | — | | | Raneys, LLC | — | | 1,964 | | | Rapid Fire Safety and Security, LLC | 10,125 | | 1,080 | | | Redwood Buyer, LLC | 7,615 | | 9,499 | | | Renovation Systems, LLC | 2,384 | | 1,331 | | | Rental Equipment Investment Corp | — | | 5,225 | | | Rose Paving, LLC | — | | 3,431 | | | RTP Acquisition, LLC | 38 | | — | | | Sage Dental Management, LLC | 9,567 | | 17,773 | | | SCP Cold Chain Packaging Buyer Corp | 7,248 | | 10,495 | | | SCP ENT and Allergy Services, LLC | 64 | | 64 | | | SCP OMS Services, LLC | 4,514 | | 8,754 | | | SENS Intermediate Holdings LLC | 3,468 | | 6,132 | |
| | | | | | | | | | Portfolio Company | June 30, 2026 | December 31, 2025 | | Shasta Buyer, LLC | — | | 4,307 | | | ShiftKey, LLC | 110 | | 110 | | | Signature Dental Partners LLC | 9,579 | | 2,974 | | | Signature MD, Inc | — | | 5,292 | | | Silver Falls MSO, LLC | 4,305 | | 5,371 | | | SimiTree Acquisition LLC | 128 | | 128 | | | SIMKO Merger Sub, LLC | — | | 27 | | | Singlepoint Healthcare Opco, LLC | 15,297 | | — | | | Sixarp, LLC | 1,722 | | 4,432 | | | Southeast Primary Care Partners, LLC | 454 | | 733 | | | Southern Orthodontic Partners Management, LLC | 3,037 | | 4,843 | | | Southern Sports Medicine Partners, LLC | 27 | | 27 | | | Spa Medicca, LLC | 7,199 | | 7,199 | | | Spear Education Holdings, LLC | — | | 3,791 | | | Spectrum Solutions, LLC | 21 | | 95 | | | SPG Holdco, LLC | 544 | | 1,234 | | | Star Dental Partners LLC | 2,279 | | 6,513 | | | Starwest Botanicals Acquisition, LLC | — | | 4 | | | Storm Smart Buyer LLC | — | | 66 | | | Sun Orchard, LLC | — | | 6,851 | | | Superior Insurance Partners LLC | 16,883 | | 5,414 | | | Superscapes Holdco, LLC | — | | 1,888 | | | SupplySide BuyerCo, Inc | 8,278 | | — | | | Sure Power, LLC | 4,441 | | — | | | Surplus Solutions, LLC | — | | 3,626 | | | T&D AcquisitionCo, LLC | 7,855 | | — | | | TCG Services, LLC | 7,250 | | 9,280 | | | Teel Plastics, LLC | — | | 3,909 | | | The Channel Company, LLC | 39 | | 27 | | | The Chempetitive Group, LLC | 10,505 | | 13,578 | | | Therapy Spot Acquisition, LLC | 7,422 | | — | | | Therapy2000 Acquisition, LLC | 5,232 | | 6,888 | | | Third Holdco, LLC | 3,624 | | 9,713 | | | Trademark Global, LLC | 101 | | 18 | | | Transitions Intermediate Holdings, LLC | 687 | | 2,784 | | | Treat Planet Acquisition, LLC | — | | 2,422 | | | Triad Technologies, LLC | — | | 332 | | | TruBlue LLC | — | | 3,761 | | | TruSource Foods LLC | 2,510 | | 3,425 | | | TSR Concrete Coatings, LLC | 10,938 | | 19,088 | | | U.S. BioTek Laboratories, LLC | — | | — | | | United Land Services Opco Parent, LLC | 3,629 | | 3,779 | | | Universal Pure, LLC | 179 | | 179 | | | US Anchors Group Inc | — | | 6,043 | | | US Foot and Ankle Specialists, LLC | — | | 2,699 | |
| | | | | | | | | | Portfolio Company | June 30, 2026 | December 31, 2025 | | USSC Holding Corp | — | | 3,409 | | | Value Added Distributors, LLC | — | | 3,768 | | | Vanguard Packaging, LLC | 3,674 | | 2,939 | | | Varsity DuvaSawko Operating Corp. | — | | 3,045 | | | Varsity Rejuvenate Partners, LLC | — | | 1,245 | | | VersiCare Management LLC | 3,834 | | 4,775 | | | VetEvolve Holdings, LLC | 8,265 | | 15,217 | | | Vintage Parts, Inc | — | | 1,564 | | | VIT Nyckel Acquisition AB | — | | 2,719 | | | Vital Geriatrics Group Buyer, Inc | 7,428 | | 2,408 | | | Walker Sands, LLC | — | | 1,553 | | | WCI Volt Purchaser, LLC | — | | 2,249 | | | Western Veterinary Partners, LLC | 2,175 | | 4,599 | | | Westminster Cracker Company, Inc. | 230 | | 1,303 | | | Wolf Gordon Inc | — | | 3,809 | | | Woodson and Bozeman, LLC | 6,590 | | 9,026 | | | WTWH Buyer, LLC | — | | 1,638 | | | Yard-Nique, Inc | — | | 973 | | | Zipline Logistics, LLC | 405 | | 405 | | | Total unfunded portfolio company commitments | $ | 759,636 | | $ | 1,151,840 | |
Other Commitments and Contingencies From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of business. As of June 30, 2026, management was not aware of any material pending or threatened litigation. As of June 30, 2026, $184.4 million of capital remained uncalled from the Company at the TCAP JV.
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