v3.25.4
Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value $ 3,261,721 $ 3,475,258
1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 3,028,788 3,179,820
1st Lien/Last-Out Unitranche    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 135,156 165,905
2nd Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 47,914 46,786
Unsecured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 8,476 16,790
Level 3    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 3,207,527 3,431,997
Level 3 | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 2,974,646 3,136,683
Level 3 | 1st Lien/Last-Out Unitranche    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 135,156 165,905
Level 3 | 2nd Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 47,914 46,786
Level 3 | Unsecured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value 8,476 16,790
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 2,637,872 $ 2,808,914
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.079 0.077
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.214 0.33
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5] 0.105 0.114
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 70,050 $ 165,905
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.081 0.088
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.113 0.136
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5] 0.099 0.126
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 20,970 $ 37,297
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.193 0.132
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.236 0.23
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5] 0.222 0.205
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 8,476 $ 16,204
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.147 0.108
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0.267 0.173
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5] 0.165 0.145
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Recovery Rate | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 13,278 $ 25,157
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Recovery Rate | 1st Lien/Senior Secured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4]   0.175
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Recovery Rate | 1st Lien/Senior Secured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4]   1
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Recovery Rate | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5] 0.753 0.962
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3],[6] $ 66,612 $ 1,178
Debt Investments, Range of Significant Unobservable Inputs [3],[4],[6]   0
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4],[6] 4.8  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4],[6] 10  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5],[6] 7.2 6.7
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Last-Out Unitranche    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3],[6] $ 11,833  
Debt Investments, Range of Significant Unobservable Inputs [3],[4],[6] 0  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Last-Out Unitranche | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5],[6] 8.7  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 2nd Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3],[6] $ 26,944 $ 9,489
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 2nd Lien/Senior Secured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4],[6] 3.7 8.5
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 2nd Lien/Senior Secured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4],[6] 9 9.5
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 2nd Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5],[6] 6.9 8.9
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Unsecured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3],[6]   $ 586
Debt Investments, Range of Significant Unobservable Inputs [3],[4],[6]   0
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Unsecured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5],[6]   7.3
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 158 $ 58,976
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | 1st Lien/Senior Secured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4]   0.4
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | 1st Lien/Senior Secured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[4]   2.5
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [3],[5] 0.3 1.8
Equity | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Preferred Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 8,682  
Debt Investments, Range of Significant Unobservable Inputs [3],[4] 0  
Equity | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Preferred Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[5] 0.206  
Equity | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 5,396 $ 5,396
Equity, Range of Significant Unobservable Inputs [3],[4] 0 0
Equity | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Common Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[5] 0.285 0.29
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3],[6] $ 127 $ 14,320
Equity, Range of Significant Unobservable Inputs [3],[4],[6] 0  
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[4],[6]   13.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[4],[6]   20.8
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[5],[6] 13 20.7
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3],[6] $ 8,468 $ 13,209
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[4],[6] 3.5 4.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[4],[6] 13 13.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[5],[6] 7.5 8.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Warrants, Fair Value [1],[2],[3] $ 247 $ 421
Warrants, Range of Significant Unobservable Inputs [3],[4] 0 0
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Warrants, Range of Significant Unobservable Inputs [3],[5] 3.9 4.2
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | Preferred Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 17,617 $ 16,926
Equity, Range of Significant Unobservable Inputs [3],[4] 0 0
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | Preferred Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[5] 3.9 4.2
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt investments, Fair Value [1],[2],[3] $ 798 $ 15,561
Equity, Range of Significant Unobservable Inputs [3],[4] 0  
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | Common Stock | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[4]   1.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | Common Stock | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[4]   10
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/Revenue | Common Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [3],[5] 7.3 2.7
[1] As of December 31, 2024, included within the fair value of Level 3 assets of $3,431,997 is an amount of $242,458 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and transaction prices). The income approach was used in the determination of fair value for $3,028,320 or 90.0% of Level 3 bank loans, corporate debt, and other debt obligations.
[2] As of December 31, 2025, included within the fair value of Level 3 assets of $3,207,527 is an amount of $309,999 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and transaction prices). The income approach was used in the determination of fair value for $2,737,368 or 86.5% of Level 3 bank loans, corporate debt, and other debt obligations.
[3] The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques.
[4] The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded.
[5] Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment.
[6] Enterprise value of portfolio company as a multiple of earnings before interest, taxes, depreciation and amortization (“EBITDA”).