Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Sep. 30, 2026
Mar. 31, 2026
ASSETS    
Investments at fair value $ 1,430,865 $ 1,309,248 [1]
Cash 283 1,132
Cash equivalents 25 25
Restricted cash 1,164 1,228
Interest receivable 10,083 6,823
Deferred financing costs, net 3,056 636
Other assets, net 3,139 1,718
TOTAL ASSETS 1,452,234 1,322,845
Borrowings:    
Line of credit at fair value (Cost of $299,800 and $23,900, respectively) 299,800 23,946
Notes payable, net of unamortized deferred financing costs of $7,241 and $8,460, respectively 413,809 540,528
Total borrowings 713,609 564,474
Accounts payable and accrued expenses 1,301 1,247
Interest payable 5,537 6,388
Other liabilities 1,164 1,224
TOTAL LIABILITIES 797,915 654,620
Commitments and contingencies [2]
NET ASSETS 654,319 668,225
ANALYSIS OF NET ASSETS    
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 39,821,967 and 39,821,967 shares issued and outstanding, respectively 40 40
Capital in excess of par value 486,711 486,717
Total distributable earnings [3] 167,568 181,468
TOTAL NET ASSETS $ 654,319 $ 668,225
NET ASSET VALUE PER SHARE (in USD per share) $ 16.43 $ 16.78
Related Party    
Borrowings:    
Fees due to related party $ 76,304 $ 81,287
Administrator | Related Party    
ASSETS    
Due from administrative agent 3,619 2,035
Borrowings:    
Fees due to related party [4] 479 780
Adviser | Related Party    
Borrowings:    
Fees due to related party [4] 75,825 80,507
Non-Control/Non-Affiliate investments    
ASSETS    
Investments at fair value 1,024,751 [5] 983,959 [6]
Affiliate investments    
ASSETS    
Investments at fair value 347,398 [7] 324,676 [8]
Control investments    
ASSETS    
Investments at fair value $ 58,716 [9] $ 613 [10]
[1] Cumulative gross unrealized appreciation for federal income tax purposes is $428.5 million; cumulative gross unrealized depreciation for federal income tax purposes is $173.7 million. Cumulative net unrealized appreciation is $254.8 million, based on a tax cost of $1.1 billion.
[2] Refer to Note 9 — Commitments and Contingencies in the accompanying Notes to Consolidated Financial Statements for additional information.
[3] Refer to Note 2 — Summary of Significant Accounting Policies in the accompanying Notes to Consolidated Financial Statements for additional information.
[4] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.
[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] 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.
[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] 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.
[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.
[10] 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.