v3.26.1
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Investment owned at fair value $ 2,216,776 [1] $ 2,185,948 [2]
Cash and cash equivalents 33,012 47,217
Deferred financing costs 11,538 13,254
Receivable for investments sold/repaid 322 200
Other assets 185 140
Total assets 2,288,899 2,283,926
Liabilities    
Debt 1,066,785 1,112,958
Distribution payable 31,299 29,579
Management fees payable 475 1,056
Income based incentive fees payable 2,204 2,792
Interest and other financing costs payable 11,327 12,216
Accrued expenses and other liabilities 2,607 1,618
Total liabilities 1,114,697 1,160,219
Commitments and contingencies (Note 7)
Members' Capital    
Common units (66,592,630 and 61,623,231 common units issued and outstanding) 67 62
Paid-in capital in excess of par value 1,280,026 1,190,236
Distributable earnings (loss) (105,891) (66,591)
Total members' capital 1,174,202 1,123,707
Total liabilities and members' capital $ 2,288,899 $ 2,283,926
Net asset value per unit (in dollars per unit) $ 17.63 $ 18.24
Investment, Unaffiliated Issuer    
Assets    
Investment owned at fair value $ 2,172,132 $ 2,172,438
Investments in unaffiliated money market fund 13,900 23,676
Interest and dividend receivable 12,954 13,237
Investment, Affiliated Issuer, Noncontrolled    
Assets    
Investment owned at fair value 44,644 13,510
Interest and dividend receivable $ 212 $ 254
[1] Unless otherwise indicated, issuers of debt and equity investments held by the Company (which such term “Company” includes the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments (including preferred equity investments) are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of June 30, 2026, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of June 30, 2026, the Company was an “affiliated person” of four of its portfolio companies, as indicated below.
[2] Unless otherwise indicated, issuers of debt and equity investments held by the Company (which such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments (including preferred equity investments) are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the 1940 Act, the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2025, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2025, the Company is an “affiliated person” of one of its portfolio companies, as indicated below.