Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Jun. 30, 2024
Mar. 31, 2024
ASSETS    
Investments at fair value $ 899,138 $ 920,504 [1]
Cash and cash equivalents 2,442 2,460
Restricted cash and cash equivalents 748 760
Interest receivable 6,955 7,627
Due from administrative agent 1,646 3,427
Deferred financing costs, net 1,538 1,643
Other assets, net 1,739 1,662
TOTAL ASSETS 914,206 938,083
Borrowings:    
Line of credit at fair value (Cost of $63,700 and $67,000, respectively) 63,700 67,000
Notes payable, net 331,685 331,345
Total borrowings 395,385 398,345
Accounts payable and accrued expenses 1,092 732
Interest payable 3,462 3,465
Other liabilities 748 759
TOTAL LIABILITIES 436,826 445,372
Commitments and contingencies [2]
NET ASSETS 477,380 492,711
ANALYSIS OF NET ASSETS    
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 36,688,667 and 36,688,667 shares issued and outstanding, respectively 37 37
Capital in excess of par value 444,525 444,706
Cumulative net unrealized appreciation of investments 47,272 66,214
Overdistributed net investment income (15,772) (19,562)
Accumulated net realized gain in excess of distributions 1,318 1,316
Total distributable earnings 32,818 47,968
TOTAL NET ASSETS $ 477,380 $ 492,711
NET ASSET VALUE PER SHARE (in USD per share) $ 13.01 $ 13.43
Related Party    
Borrowings:    
Fees due to related party $ 36,139 $ 42,071
Fees due to Adviser | Related Party    
Borrowings:    
Fees due to related party [3] 35,261 41,344
Fee due to Administrator | Related Party    
Borrowings:    
Fees due to related party [3] 878 727
Non-Control/Non-Affiliate Investments    
ASSETS    
Investments at fair value 607,276 [4] 622,233 [5]
Affiliate Investments    
ASSETS    
Investments at fair value 290,400 [6] 295,366 [7]
Control Investments    
ASSETS    
Investments at fair value $ 1,462 [8] $ 2,905 [9]
[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] Refer to Note 9 — Commitments and Contingencies in the accompanying Notes to Consolidated Financial Statements for additional information.
[3] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.
[4] Non-Control/Non-Affiliate investments, as defined by the 1940 Act, are those that are neither Control nor Affiliate investments and in which we own less than 5.0% of the issued and outstanding voting securities.
[5] Non-Control/Non-Affiliate investments, as defined by the 1940 Act, are those that are neither Control nor Affiliate investments and in which we own less than 5.0% of the issued and outstanding voting securities.
[6] Affiliate investments, as defined by the 1940 Act, are those that are not Control investments and in which we own, with the power to vote, between and inclusive of 5.0% and 25.0% of the issued and outstanding voting securities.
[7] Affiliate investments, as defined by the 1940 Act, are those that are not Control investments and in which we own, with the power to vote, between and inclusive of 5.0% and 25.0% of the issued and outstanding voting securities.
[8] Control investments, as defined by the 1940 Act, are those where we have the power to exercise a controlling influence over the management or policies of the portfolio company, which may include owning, with the power to vote, more than 25.0% of the issued and outstanding voting securities.
[9] Control investments, as defined by the 1940 Act, are those where we have the power to exercise a controlling influence over the management or policies of the portfolio company, which may include owning, with the power to vote, more than 25.0% of the issued and outstanding voting securities.