Annual report pursuant to Section 13 and 15(d)

FAIR VALUE HIERARCHY FOR INVESTMENTS???PORTFOLIO COMPOSITION - Summary of Investments (Details)

v3.22.4
FAIR VALUE HIERARCHY FOR INVESTMENTS—PORTFOLIO COMPOSITION - Summary of Investments (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
USD ($)
company
Dec. 31, 2021
USD ($)
company
Summary of Investment Holdings [Line Items]    
Fair value $ 4,102,177 [1],[2] $ 3,561,831 [3],[4]
Cost $ 3,773,752 [2],[5] $ 3,259,246 [4],[6]
Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 100.00% 100.00%
Non-accrual Status | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 3.70% 3.30%
Equity investments | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 14.20% 16.20%
First lien debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 85.00% 82.50%
LMM portfolio investments    
Summary of Investment Holdings [Line Items]    
Number of portfolio companies | company 78 73
Fair value $ 2,060,500 $ 1,716,400
Cost 1,719,900 1,455,700
Average EBITDA $ 8,000 $ 6,200
Diluted equity ownership percentage 41.00% 40.00%
Investment company, number of companies within portfolio excluded from EBITDA calculation | company 3 3
LMM portfolio investments | Weighted Average    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield 12.30% 11.20%
LMM portfolio investments | Non-accrual Status | Weighted Average    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield 11.60% 10.60%
LMM portfolio investments | Debt investments | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 73.70% 70.90%
LMM portfolio investments | Equity investments | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 26.30% 29.10%
LMM portfolio investments | First lien debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 99.10% 99.00%
Private Loan portfolio investments    
Summary of Investment Holdings [Line Items]    
Number of portfolio companies | company 85 75
Fair value $ 1,471,500 $ 1,141,800
Cost 1,500,300 1,157,500
Average EBITDA $ 38,100 $ 41,300
Investment company, number of companies within portfolio excluded from EBITDA calculation | company 2 3
Private Loan portfolio investments | Weighted Average    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield 11.60% 8.20%
Private Loan portfolio investments | Non-accrual Status | Weighted Average    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield 11.20% 8.00%
Private Loan portfolio investments | Debt investments | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 97.10% 95.70%
Private Loan portfolio investments | Equity investments | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 2.90% 4.30%
Private Loan portfolio investments | First lien debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 99.60% 98.70%
Middle Market portfolio investments    
Summary of Investment Holdings [Line Items]    
Number of portfolio companies | company 31 36
Fair value $ 329,100 $ 395,200
Cost 401,700 440,900
Average EBITDA $ 68,700 $ 76,000
Investment company, number of companies within portfolio excluded from EBITDA calculation | company   1
Middle Market portfolio investments | Weighted Average    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield 11.00% 7.50%
Middle Market portfolio investments | Non-accrual Status | Weighted Average    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield 10.30% 6.90%
Middle Market portfolio investments | Debt investments | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 93.80% 93.30%
Middle Market portfolio investments | Equity investments | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 6.20% 6.70%
Middle Market portfolio investments | First lien debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk, percentage 98.80% 98.70%
[1] Investment fair value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
[2] All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Company’s Corporate Facility or SPV Facility (each as defined in Note B.5. — Deferred Financing Costs, and together the “Credit Facilities”) or in support of the SBA-guaranteed debentures issued by the Funds.
[3] Investment fair value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion.
[4] All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Company’s Corporate Facility or in support of the SBA-guaranteed debentures issued by the Funds.
[5] Principal is net of repayments. Cost is net of repayments and accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
[6] Principal is net of repayments. Cost is net of repayments and accumulated unearned income.