Annual report pursuant to Section 13 and 15(d)

INVESTMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details)

v3.24.1.u1
INVESTMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details)
$ in Thousands
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 920,504 [1] $ 753,543 [2]
Investments at fair value 920,504 753,543
Secured First Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 474,856 437,517
Secured Second Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 138,703 75,734
Preferred Equity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 213,480 222,585
Common Equity/ Equivalents    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 93,465 17,707
Significant Unobservable Inputs (Level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 920,486 753,516
Investments at fair value 920,486 753,516
Significant Unobservable Inputs (Level 3) | Secured First Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 474,856 437,517
Significant Unobservable Inputs (Level 3) | Secured Second Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 138,703 75,734
Significant Unobservable Inputs (Level 3) | Preferred Equity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 213,480 222,585
Significant Unobservable Inputs (Level 3) | Common Equity/ Equivalents    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 93,447 17,680
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Secured First Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 474,856 432,126
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Secured Second Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 113,703 62,750
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Preferred Equity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 213,480 222,585
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Common Equity/ Equivalents    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 93,447 $ 17,680
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Secured First Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 4.2 4.4
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Secured First Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 8.8 7.7
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Secured First Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 6.4 6.4
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Secured Second Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 5.1 5.4
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Secured Second Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 15.0 6.6
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Secured Second Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 7.0 6.2
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Preferred Equity | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 4.2 4.4
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Preferred Equity | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 8.8 7.7
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Preferred Equity | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 6.1 5.9
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Common Equity/ Equivalents | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 5.0 4.7
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Common Equity/ Equivalents | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 15.0 7.2
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA multiple | Common Equity/ Equivalents | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 6.4 6.4
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Secured First Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 1,091 $ 4,251
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Secured First Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 23,547 19,083
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Secured First Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 10,509 10,764
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Secured Second Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 5,648 4,112
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Secured Second Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 23,003 6,379
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Secured Second Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 14,192 5,501
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Preferred Equity | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 1,091 4,251
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Preferred Equity | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 23,547 19,083
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Preferred Equity | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 9,502 9,486
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Common Equity/ Equivalents | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 1,154 1,105
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Common Equity/ Equivalents | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 63,269 30,833
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | EBITDA | Common Equity/ Equivalents | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 23,615 $ 6,273
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue multiple | Secured First Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.3 0.3
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue multiple | Secured First Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.6 0.6
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue multiple | Secured First Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.4 0.3
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue multiple | Preferred Equity | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.3 0.3
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue multiple | Preferred Equity | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.6 0.6
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue multiple | Preferred Equity | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.4 0.4
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue | Secured First Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 31,586 $ 15,483
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue | Secured First Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 93,916 109,615
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue | Secured First Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 77,580 94,957
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue | Preferred Equity | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 31,586 15,483
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue | Preferred Equity | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 93,916 109,615
Significant Unobservable Inputs (Level 3) | Total Enterprise Value | Revenue | Preferred Equity | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 75,099 69,247
Significant Unobservable Inputs (Level 3) | Yield Analysis | Secured First Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 0 5,391
Significant Unobservable Inputs (Level 3) | Yield Analysis | Secured Second Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 25,000 $ 12,984
Significant Unobservable Inputs (Level 3) | Yield Analysis | Discount Rate | Secured First Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input   0.194
Significant Unobservable Inputs (Level 3) | Yield Analysis | Discount Rate | Secured First Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input   0.199
Significant Unobservable Inputs (Level 3) | Yield Analysis | Discount Rate | Secured First Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input   0.197
Significant Unobservable Inputs (Level 3) | Yield Analysis | Discount Rate | Secured Second Lien Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.138 0.140
Significant Unobservable Inputs (Level 3) | Yield Analysis | Discount Rate | Secured Second Lien Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.138 0.140
Significant Unobservable Inputs (Level 3) | Yield Analysis | Discount Rate | Secured Second Lien Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value, measurement input 0.138 0.140
Significant Other Observable Inputs (Level 2)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value $ 18 $ 27
Significant Other Observable Inputs (Level 2) | Secured First Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 0 0
Significant Other Observable Inputs (Level 2) | Secured Second Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 0 0
Significant Other Observable Inputs (Level 2) | Preferred Equity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 0 0
Significant Other Observable Inputs (Level 2) | Common Equity/ Equivalents    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value 18 27
Significant Other Observable Inputs (Level 2) | Common Equity/ Equivalents | Funko Acquisition Holdings, LLC    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at fair value $ 18 $ 27
[1] Cumulative gross unrealized appreciation for federal income tax purposes is $180.5 million; cumulative gross unrealized depreciation for federal income tax purposes is $115.8 million. Cumulative net unrealized appreciation is $64.7 million, based on a tax cost of $855.8 million.
[2] Cumulative gross unrealized appreciation for federal income tax purposes is $150.4 million; cumulative gross unrealized depreciation for federal income tax purposes is $119.3 million. Cumulative net unrealized appreciation is $31.1 million, based on a tax cost of $722.4 million.