TCG BDC, Inc(NASDAQ:CGBD) 
TCG BDC, Inc. is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as co...
Sector: Financial Services
Industry: Asset Management
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-03-31 | 2023-12-31 | 2023-06-30 | 2023-03-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
investment income: | ||||||||||||||||||||||||||||||||
from non-controlled/non-affiliated investments: | ||||||||||||||||||||||||||||||||
interest income | 48,491,000 | 53,162,000 | 51,912,000 | 54,258,000 | 41,139,000 | 42,765,000 | 44,660,000 | 43,254,000 | 36,245,000 | 35,362,000 | 33,828,000 | 35,387,000 | 32,661,000 | 31,756,000 | 34,789,000 | 36,036,000 | 41,465,000 | 47,118,000 | 47,224,000 | 45,242,000 | 34,684,000 | |||||||||||
pik income | 5,207,000 | 5,465,000 | 5,864,000 | 5,189,000 | 4,867,000 | 5,507,000 | 4,495,000 | 4,188,000 | 4,337,000 | |||||||||||||||||||||||
other income | 2,593,000 | 1,190,000 | 1,713,000 | 1,449,000 | 949,000 | 1,780,000 | 917,000 | 961,000 | 2,971,000 | 1,632,000 | 1,962,000 | 750,000 | 2,401,000 | 1,467,000 | 2,110,000 | 3,547,000 | 2,344,000 | 1,756,000 | 2,266,000 | 2,028,000 | 1,318,000 | |||||||||||
total investment income from non-controlled/non-affiliated investments | 56,291,000 | 59,817,000 | 59,489,000 | 60,896,000 | 46,955,000 | 50,052,000 | 50,072,000 | 48,403,000 | 43,553,000 | 36,994,000 | 35,790,000 | 36,137,000 | 35,062,000 | 33,223,000 | 36,899,000 | 39,583,000 | 43,809,000 | 48,874,000 | 49,490,000 | 47,270,000 | 36,002,000 | |||||||||||
from non-controlled/affiliated investments: | ||||||||||||||||||||||||||||||||
dividend income | 302,000 | 5,000,000 | 5,000,000 | 5,000,000 | 6,554,000 | 8,276,000 | 8,276,000 | 8,276,000 | 7,524,000 | 7,524,000 | 7,524,000 | 7,523,000 | 7,488,000 | 7,528,000 | 5,750,000 | 5,500,000 | 3,500,000 | 4,000,000 | 3,750,000 | 4,000,000 | 2,800,000 | |||||||||||
total investment income from non-controlled/affiliated investments | 2,220,000 | 1,986,000 | 2,020,000 | 1,385,000 | 1,355,000 | 3,679,000 | 1,717,000 | 1,696,000 | 8,066,000 | 50,000 | 50,000 | 49,000 | 48,000 | 41,000 | 446,000 | 384,000 | 379,000 | 834,000 | ||||||||||||||
from controlled/affiliated investments: | ||||||||||||||||||||||||||||||||
total investment income from controlled/affiliated investments | 5,568,000 | 5,110,000 | 5,000,000 | 5,000,000 | 6,554,000 | 8,276,000 | 8,276,000 | 8,276,000 | 7,524,000 | 7,524,000 | 11,669,000 | 7,576,000 | 7,546,000 | 7,584,000 | 5,885,000 | 5,692,000 | 6,736,000 | 6,459,000 | 6,993,000 | 7,538,000 | 5,812,000 | |||||||||||
total investment income | 64,079,000 | 66,913,000 | 66,509,000 | 67,281,000 | 54,864,000 | 62,007,000 | 60,065,000 | 58,375,000 | 59,143,000 | 44,568,000 | 47,509,000 | 43,762,000 | 42,656,000 | 40,848,000 | 42,784,000 | 45,275,000 | 50,545,000 | 55,779,000 | 56,867,000 | 55,187,000 | 42,648,000 | 38,744,000 | 34,099,000 | 28,957,000 | 25,748,000 | 23,110,000 | ||||||
expenses: | ||||||||||||||||||||||||||||||||
base management fees | 8,786,000 | 9,231,000 | 9,139,000 | 8,665,000 | 7,609,000 | 6,888,000 | 7,185,000 | 7,236,000 | 7,262,000 | 7,113,000 | 7,050,000 | 7,233,000 | 6,991,000 | 6,800,000 | 7,134,000 | 7,065,000 | 7,386,000 | 8,016,000 | 7,913,000 | 7,685,000 | 6,999,000 | 5,657,000 | 5,125,000 | 4,699,000 | 4,345,000 | 4,140,000 | ||||||
incentive fees | 5,348,000 | 5,130,000 | 5,612,000 | 5,934,000 | 4,400,000 | 5,867,000 | 5,593,000 | 5,472,000 | 6,451,000 | 4,458,000 | 5,228,000 | 4,516,000 | 4,420,000 | 4,257,000 | 4,322,000 | 4,667,000 | 5,086,000 | 5,710,000 | 5,933,000 | 5,846,000 | 5,321,000 | 5,361,000 | 4,777,000 | 3,962,000 | 3,366,000 | 2,990,000 | ||||||
professional fees | 1,097,000 | 1,253,000 | 778,000 | 1,015,000 | 715,000 | 745,000 | 523,000 | 689,000 | 787,000 | 752,000 | 783,000 | 836,000 | 917,000 | 691,000 | 937,000 | 678,000 | 667,000 | 534,000 | 600,000 | 745,000 | 361,000 | 1,153,000 | 443,000 | 568,000 | 575,000 | 431,000 | ||||||
administrative service fees | 482,000 | 425,000 | 512,000 | 498,000 | 406,000 | 501,000 | 469,000 | 28,000 | 470,000 | 461,000 | 406,000 | 400,000 | 375,000 | 282,000 | 167,000 | 266,000 | 106,000 | 61,000 | 165,000 | 216,000 | 184,000 | 165,000 | 173,000 | 180,000 | 198,000 | 148,000 | ||||||
interest expense and credit facility fees | 21,770,000 | 25,450,000 | 22,306,000 | 21,727,000 | 18,603,000 | 17,863,000 | 17,873,000 | 17,281,000 | ||||||||||||||||||||||||
directors’ fees and expenses | 187,000 | 208,000 | 191,000 | 188,000 | 148,000 | 151,000 | 107,000 | 123,000 | 173,000 | 186,000 | 160,000 | 154,000 | 150,000 | 116,000 | 86,000 | 121,000 | 96,000 | 88,000 | 88,000 | 93,000 | 121,000 | 131,000 | 103,000 | 146,000 | 144,000 | 120,000 | ||||||
other general and administrative | 764,000 | 838,000 | 632,000 | 624,000 | 678,000 | 713,000 | 490,000 | 453,000 | 461,000 | 382,000 | 394,000 | 420,000 | 467,000 | 405,000 | 498,000 | 455,000 | 411,000 | 483,000 | 434,000 | 421,000 | 472,000 | 448,000 | 542,000 | 390,000 | 419,000 | 503,000 | ||||||
total expenses | 38,434,000 | 42,535,000 | 39,170,000 | 38,651,000 | 32,559,000 | 32,728,000 | 32,240,000 | 31,282,000 | 27,541,000 | 22,522,000 | 21,637,000 | 21,513,000 | 20,880,000 | 20,045,000 | 21,163,000 | 23,483,000 | 26,521,000 | 28,975,000 | 28,836,000 | 27,565,000 | 19,901,000 | 19,182,000 | 16,700,000 | 14,678,000 | 13,730,000 | 12,530,000 | ||||||
net investment income before taxes | 25,645,000 | 24,378,000 | 27,339,000 | 28,630,000 | 22,305,000 | 29,279,000 | 27,825,000 | 27,093,000 | 31,602,000 | 22,046,000 | 25,872,000 | 22,249,000 | 21,776,000 | 20,803,000 | 21,621,000 | 21,792,000 | 24,024,000 | 26,804,000 | 28,031,000 | 27,622,000 | ||||||||||||
excise tax expense | 441,000 | 350,000 | 500,000 | 380,000 | 676,000 | 830,000 | 650,000 | 523,000 | 449,000 | 176,000 | 353,000 | 163,000 | 139,000 | 124,000 | 387,000 | 100,000 | 52,000 | 49,000 | 60,000 | 60,000 | ||||||||||||
net investment income | 25,204,000 | 24,028,000 | 26,839,000 | 28,250,000 | 21,629,000 | 28,449,000 | 27,175,000 | 26,570,000 | 31,153,000 | 21,870,000 | 25,519,000 | 22,086,000 | 21,637,000 | 20,679,000 | 21,234,000 | 21,692,000 | 23,972,000 | 26,755,000 | 27,971,000 | 27,562,000 | 25,080,000 | 21,448,000 | 19,107,000 | 15,846,000 | 13,466,000 | 11,960,000 | ||||||
net realized gain and net change in unrealized appreciation | ||||||||||||||||||||||||||||||||
net realized gain on investments: | ||||||||||||||||||||||||||||||||
non-controlled/non-affiliated investments | -9,482,000 | -19,777,000 | -16,427,000 | -357,000 | -7,027,000 | -23,199,000 | -7,991,000 | -13,503,000 | -4,508,000 | -653,000 | 4,575,000 | 7,565,000 | 1,944,000 | 1,672,000 | -209,000 | -47,784,000 | -1,697,000 | -10,909,000 | 1,410,000 | 899,000 | 172,000 | |||||||||||
controlled/affiliated investments | -14,502,000 | 188,000 | 707,000 | 1,264,000 | 9,730,000 | 2,060,000 | -4,703,000 | -9,091,000 | 496,000 | |||||||||||||||||||||||
net realized currency gain on non-investment assets and liabilities | -136,000 | -470,000 | 22,000 | 229,000 | -596,000 | 640,000 | 45,000 | -53,000 | ||||||||||||||||||||||||
net realized gain on forward currency contracts | -2,471,000 | 2,784,000 | ||||||||||||||||||||||||||||||
net change in unrealized appreciation (depreciation) on investments: | ||||||||||||||||||||||||||||||||
non-controlled/affiliated investments | -106,000 | 4,013,000 | 320,000 | 4,976,000 | 1,000 | 1,000 | -48,000 | -345,000 | 2,296,000 | |||||||||||||||||||||||
net change in unrealized currency gain on non-investment assets and liabilities | 3,995,000 | -483,000 | 1,546,000 | -9,404,000 | -1,339,000 | |||||||||||||||||||||||||||
net change in unrealized gain on forward currency contracts | 1,495,000 | -3,192,000 | ||||||||||||||||||||||||||||||
net realized gain and net change in unrealized appreciation (depreciation) on investments, non-investment assets and liabilities, and forward currency contracts | -29,422,000 | -6,643,000 | -2,936,000 | -13,620,000 | -7,575,000 | |||||||||||||||||||||||||||
net increase in net assets resulting from operations | -4,218,000 | 17,385,000 | 23,903,000 | 14,630,000 | 14,054,000 | 29,264,000 | 4,713,000 | 27,987,000 | 37,830,000 | 4,665,000 | 30,683,000 | 47,620,000 | 42,868,000 | 35,904,000 | 33,608,000 | 56,158,000 | -121,100,000 | -8,989,000 | 9,757,000 | 33,726,000 | 25,543,000 | 15,501,000 | 16,173,000 | 29,170,000 | 25,951,000 | -2,708,000 | ||||||
preferred stock dividend | 826,000 | 875,000 | 875,000 | 875,000 | 875,000 | 875,000 | 875,000 | 875,000 | 875,000 | 875,000 | 856,000 | 554,000 | ||||||||||||||||||||
net increase in net assets resulting from operations attributable to common stockholders | -4,218,000 | 17,385,000 | 23,903,000 | 14,630,000 | 13,228,000 | 28,389,000 | 3,838,000 | 27,112,000 | 36,955,000 | 3,790,000 | 29,808,000 | 46,745,000 | 41,993,000 | 35,029,000 | 32,752,000 | 55,604,000 | ||||||||||||||||
basic and diluted earnings per common share | -2,120 | -150 | 160 | 550 | 410 | 340 | 390 | 780 | 750 | -80 | ||||||||||||||||||||||
basic | -60 | 240 | 330 | 200 | 250 | 560 | 530 | 710 | 70 | 560 | 870 | 770 | 650 | 580 | 990 | |||||||||||||||||
diluted | -60 | 230 | 330 | 200 | 250 | 520 | 500 | 660 | 70 | 530 | 800 | 720 | 600 | 550 | 940 | |||||||||||||||||
weighted-average shares of common stock outstanding | ||||||||||||||||||||||||||||||||
basic | 70,907,909,000 | 67,718,284,000 | 72,902,981,000 | 72,902,981,000 | 51,923,228,000 | 50,831,205,000 | 50,794,941,000 | 50,887,075,000 | 51,863,022,000 | 52,421,296,000 | 52,892,054,000 | 54,244,432,000 | 53,955,338,000 | 54,537,840,000 | 55,039,010,000 | 56,421,137,000 | 56,308,616,000 | 56,308,616,000 | ||||||||||||||
diluted | 70,907,909,000 | 69,038,337,000 | 72,902,981,000 | 72,902,981,000 | 57,339,759,000 | 56,468,099,000 | 56,330,563,000 | 56,289,347,000 | 57,182,634,000 | 52,421,296,000 | 58,194,422,000 | 59,531,683,000 | 59,230,725,000 | 59,805,142,000 | 60,306,312,000 | 56,421,137,000 | 61,571,773,000 | 59,547,482,000 | ||||||||||||||
net change in unrealized currency gains on non-investment assets and liabilities | 1,029,000 | -1,875,000 | -1,230,000 | 5,461,000 | 4,732,000 | 2,265,000 | 1,991,000 | 54,000 | -225,000 | -2,446,000 | -641,000 | 2,338,000 | 406,000 | |||||||||||||||||||
net realized gain and net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities | 815,000 | -22,462,000 | 1,417,000 | -145,072,000 | -35,744,000 | |||||||||||||||||||||||||||
basic and diluted earnings per common share | -2,120 | -150 | 160 | 550 | 410 | 340 | 390 | 780 | 750 | -80 | ||||||||||||||||||||||
interest expense | 11,491,000 | 8,582,000 | 7,099,000 | 7,519,000 | 7,055,000 | 6,975,000 | 7,291,000 | 9,443,000 | 12,179,000 | 13,538,000 | 13,032,000 | 11,991,000 | 5,922,000 | 5,738,000 | 5,034,000 | 4,051,000 | 3,825,000 | 3,599,000 | ||||||||||||||
credit facility fees | 446,000 | 588,000 | 517,000 | 435,000 | 505,000 | 519,000 | 728,000 | 788,000 | 590,000 | 545,000 | 671,000 | 568,000 | 521,000 | 529,000 | 503,000 | 682,000 | 858,000 | 599,000 | ||||||||||||||
currency gains on non-investment assets and liabilities | -71,000 | -39,000 | -368,000 | -56,000 | -82,000 | -11,000 | 635,000 | -150,000 | ||||||||||||||||||||||||
net realized and unrealized gain on investments and non-investment assets and liabilities | 6,677,000 | -17,205,000 | 5,164,000 | 25,534,000 | 21,231,000 | 15,225,000 | 12,374,000 | 34,466,000 | ||||||||||||||||||||||||
weighted-average shares of common stock outstanding—basic and diluted | 57,112,193,000 | 60,189,502,000 | 59,587,941,000 | 60,596,402,000 | 61,772,774,000 | 61,840,100,000 | 45,977,943,000 | 41,706,598,000 | 36,152,390,000 | 37,489,297,000 | 34,402,925,000 | 31,945,959,000 | ||||||||||||||||||||
net realized gain and net change in unrealized appreciation (depreciation) on investments: | ||||||||||||||||||||||||||||||||
net realized gain from: | ||||||||||||||||||||||||||||||||
net change in unrealized appreciation | ||||||||||||||||||||||||||||||||
net realized gain and net change in unrealized appreciation (depreciation) on investments | -18,214,000 | 6,164,000 | 463,000 | -5,947,000 | -2,934,000 | 13,324,000 | 12,485,000 | -14,668,000 | ||||||||||||||||||||||||
waiver of base management fees | 2,333,000 | 1,886,000 | 1,708,000 | 1,567,000 | 1,448,000 | 1,380,000 | ||||||||||||||||||||||||||
net expenses | 17,568,000 | 17,296,000 | 14,992,000 | 13,111,000 | 12,282,000 | 11,150,000 | ||||||||||||||||||||||||||
non-controlled/non-affiliated | 279,000 | |||||||||||||||||||||||||||||||
non-controlled/affiliated | 976,000 | |||||||||||||||||||||||||||||||
controlled/affiliated | -964,000 | |||||||||||||||||||||||||||||||
dividends declared per common share | 370 | 370 | 410 | 400 | 400 | 400 | ||||||||||||||||||||||||||
interest income from non-controlled/non-affiliated investments | 30,526,000 | 28,354,000 | 26,362,000 | 24,078,000 | 22,111,000 | |||||||||||||||||||||||||||
other income from non-controlled/non-affiliated investments | 4,046,000 | 2,536,000 | 1,909,000 | 1,670,000 | 999,000 | |||||||||||||||||||||||||||
interest income from controlled/affiliated investments | 2,372,000 | 1,949,000 | 336,000 | |||||||||||||||||||||||||||||
dividend income from controlled/affiliated investments | 1,800,000 | 1,260,000 | 350,000 | |||||||||||||||||||||||||||||
net realized gain on investments—non-controlled/non-affiliated | -202,000 | -7,694,000 | 544,000 | -6,022,000 | -3,577,000 | |||||||||||||||||||||||||||
net change in unrealized appreciation (depreciation) on investments—non-controlled/non-affiliated | -5,879,000 | 4,456,000 | 10,536,000 | 18,794,000 | -11,091,000 | |||||||||||||||||||||||||||
net change in unrealized appreciation (depreciation) on investments—controlled/affiliated | 134,000 | 304,000 | 2,244,000 | -287,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-03-31 | 2024-12-31 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-09-30 |
|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||
investments, at fair value | 229,860,000 | 755,949,000 | 227,985,000 | 825,539,000 | 896,207,000 | ||||
investments—non-controlled/non-affiliated, at fair value | 2,200,482,000 | 2,050,323,000 | 1,485,049,000 | 1,539,120,000 | |||||
investments—non-controlled/affiliated, at fair value | 101,931,000 | 73,912,000 | 71,861,000 | 53,382,000 | |||||
investments—controlled/affiliated, at fair value | 120,217,000 | 121,391,000 | 246,633,000 | 249,379,000 | |||||
total investments, at fair value | 2,422,630,000 | 2,245,626,000 | 1,803,543,000 | 1,841,881,000 | |||||
cash, cash equivalents and restricted cash | 52,268,000 | 250,883,000 | 56,575,000 | 60,447,000 | 31,011,000 | 30,245,000 | 24,991,000 | ||
receivable for investments sold | 48,069,000 | 644,000 | 25,407,000 | 36,000 | |||||
interest and dividend receivable | 24,511,000 | 25,154,000 | 32,436,000 | 33,725,000 | |||||
derivative assets, at fair value | 901,000 | 306,000 | 1,863,000 | ||||||
prepaid expenses and other assets | 9,547,000 | 11,195,000 | 6,169,000 | 6,489,000 | |||||
total assets | 2,557,926,000 | 2,533,808,000 | 1,925,993,000 | 247,869,000 | 1,942,578,000 | 794,874,000 | 247,810,000 | 865,596,000 | 929,538,000 |
liabilities | |||||||||
debt and secured borrowings | 1,306,757,000 | 1,247,186,000 | 960,949,000 | 980,183,000 | |||||
payable for investments purchased | 368,000 | 16,395,000 | 1,353,000 | ||||||
interest and credit facility fees payable | 11,515,000 | 12,061,000 | 10,853,000 | 8,591,000 | |||||
dividend payable | 29,161,000 | 22,931,000 | 22,908,000 | 22,321,000 | |||||
base management and incentive fees payable | 14,751,000 | 13,405,000 | 11,908,000 | 13,067,000 | |||||
administrative service fees payable | 840,000 | 986,000 | 885,000 | 2,991,000 | |||||
derivative liabilities, at fair value | 500,000 | 3,502,000 | 6,875,000 | ||||||
other accrued expenses and liabilities | 1,434,000 | 4,953,000 | 5,058,000 | 2,613,000 | |||||
total liabilities | 1,365,326,000 | 1,321,419,000 | 1,020,789,000 | 1,029,766,000 | |||||
commitments and contingencies | |||||||||
net assets | |||||||||
cumulative convertible preferred stock, 0.01 par value... | 50,000,000 | 50,000,000 | |||||||
common stock, 0.01 par value... | 729,000 | 729,000 | 509,000 | 508,000 | |||||
paid-in capital in excess of par value | 1,380,976,000 | 1,380,976,000 | 1,014,308,000 | 1,015,681,000 | |||||
offering costs | -1,633,000 | -1,633,000 | -1,633,000 | -1,633,000 | |||||
total distributable earnings | -187,472,000 | -167,683,000 | -157,980,000 | -151,744,000 | |||||
total net assets | 1,192,600,000 | 1,212,389,000 | 905,204,000 | 912,812,000 | |||||
net assets per common share | 16,360 | 16,630 | 16,800 | 16,990 | |||||
investment income: | |||||||||
from non-controlled/non-affiliated investments: | |||||||||
interest income | 51,912,000 | 41,139,000 | |||||||
pik income | 5,864,000 | 4,867,000 | |||||||
other income | 1,713,000 | 949,000 | |||||||
total investment income from non-controlled/non-affiliated investments | 59,489,000 | 46,955,000 | |||||||
from non-controlled/affiliated investments: | |||||||||
total investment income from non-controlled/affiliated investments | 2,020,000 | 1,355,000 | |||||||
from controlled/affiliated investments: | |||||||||
dividend income | 5,000,000 | 6,554,000 | |||||||
total investment income from controlled/affiliated investments | 5,000,000 | 6,554,000 | |||||||
total investment income | 66,509,000 | 54,864,000 | 22,954,000 | 18,563,000 | |||||
expenses: | |||||||||
base management fees | 9,139,000 | 7,609,000 | |||||||
incentive fees | 5,612,000 | 4,400,000 | |||||||
professional fees | 778,000 | 715,000 | |||||||
administrative service fees | 512,000 | 406,000 | |||||||
interest expense and credit facility fees | 22,306,000 | 18,603,000 | |||||||
directors’ fees and expenses | 191,000 | 148,000 | |||||||
other general and administrative | 632,000 | 678,000 | |||||||
total expenses | 39,170,000 | 32,559,000 | 10,725,000 | 7,268,000 | |||||
net investment income before taxes | 27,339,000 | 22,305,000 | |||||||
excise tax expense | 500,000 | 676,000 | |||||||
net investment income | 26,839,000 | 21,629,000 | 12,229,000 | 11,295,000 | |||||
net realized gain and net change in unrealized appreciation | |||||||||
net realized gain on investments: | |||||||||
non-controlled/non-affiliated investments | -16,427,000 | -7,027,000 | |||||||
non-controlled/affiliated investments | |||||||||
controlled/affiliated investments | -14,502,000 | ||||||||
net realized currency gain on non-investment assets and liabilities | 22,000 | -596,000 | |||||||
net realized gain on forward currency contracts | 2,784,000 | ||||||||
net change in unrealized appreciation (depreciation) on investments: | |||||||||
net change in unrealized currency gain on non-investment assets and liabilities | 1,546,000 | -1,339,000 | |||||||
net change in unrealized gain on forward currency contracts | -3,192,000 | ||||||||
net realized gain and net change in unrealized appreciation (depreciation) on investments, non-investment assets and liabilities, and forward currency contracts | -2,936,000 | -7,575,000 | |||||||
net increase in net assets resulting from operations | 23,903,000 | 14,054,000 | |||||||
preferred stock dividend | 826,000 | ||||||||
net increase in net assets resulting from operations attributable to common stockholders | 13,228,000 | ||||||||
selected consolidated balance sheet information: | |||||||||
cash and cash equivalents | 14,728,000 | 17,287,000 | |||||||
other assets | 3,281,000 | 7,914,000 | 2,538,000 | 9,812,000 | 8,340,000 | ||||
liabilities and members’ equity | 929,538,000 | ||||||||
notes payable, net of unamortized debt issuance costs of 809 and 839, respectively | 156,691,000 | ||||||||
other liabilities | 10,414,000 | 31,950,000 | 11,552,000 | 20,384,000 | 21,122,000 | ||||
total members' equity | 80,764,000 | 79,493,000 | |||||||
total liabilities and members’ equity | 247,869,000 | 794,874,000 | 247,810,000 | 865,596,000 | |||||
secured borrowings | 441,221,000 | 517,221,000 | 571,621,000 | ||||||
subordinated loans and members’ equity | 321,703,000 | 327,991,000 | 336,795,000 | ||||||
notes payable, net of unamortized debt issuance costs of 733 and 783, respectively | 156,765,000 | ||||||||
selected consolidated statement of operations information: | |||||||||
expenses | |||||||||
interest and credit facility expenses | 10,272,000 | 6,858,000 | |||||||
other incomes | 453,000 | 410,000 | |||||||
net change in unrealized appreciation (depreciation) on investments | -2,876,000 | -4,757,000 | |||||||
net increase resulting from operations | 7,121,000 | 6,349,000 | |||||||
net realized gain on investments | -2,232,000 | -189,000 | |||||||
selected consolidated balance sheet information |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-03-31 | 2023-09-30 |
|---|---|---|
cash flows from operating activities: | ||
net increase in net assets resulting from operations | 14,054,000 | 29,987,000 |
adjustments to reconcile net increase in net assets resulting from operations to net cash from operating activities: | ||
amortization of deferred financing costs | 721,000 | 311,000 |
net accretion of discount on investments | -2,968,000 | -2,003,000 |
paid-in-kind interest | -5,674,000 | -5,631,000 |
net realized (gain) loss on investments | 21,529,000 | 142,000 |
net realized currency (gain) loss on non-investment assets and liabilities | 596,000 | -406,000 |
net change in unrealized (appreciation) depreciation on investments | -16,297,000 | -315,000 |
net change in unrealized currency (gain) loss on non-investment assets and liabilities | 1,339,000 | -2,297,000 |
net change in unrealized (gain) loss on forward currency contracts | 3,192,000 | |
net change in unrealized (gain) loss on interest rate swaps | 5,007,000 | |
cost of investments purchased and change in payable for investments purchased | -316,353,000 | -48,701,000 |
proceeds from sales and repayments of investments and change in receivable for investments sold | 395,235,000 | 93,831,000 |
cash acquired in csl iii merger | 37,751,000 | |
cash acquired in credit fund ii purchase | 6,000 | |
changes in operating assets: | ||
interest and dividend receivable | 17,928,000 | -8,836,000 |
prepaid expenses and other assets | 115,000 | -121,000 |
changes in operating liabilities: | ||
interest and credit facility fees payable | -1,458,000 | 243,000 |
base management and incentive fees payable | 84,000 | -168,000 |
administrative service fees payable | 41,000 | 1,138,000 |
other accrued expenses and liabilities | -6,263,000 | 65,000 |
net cash from operating activities | 145,801,000 | 57,239,000 |
capital expenditures | 0 | 0 |
free cash flows | 145,801,000 | 57,239,000 |
cash flows from financing activities: | ||
borrowings on credit facilities | ||
repayments of credit facilities | ||
repayments of 2015-1r notes | ||
proceeds from issuance of 2015-1n debt | ||
debt issuance costs paid | -2,241,000 | |
proceeds from issuance of common stock from at the market offering, net of offering and underwriting costs | 101,000 | |
dividends paid in cash | -22,785,000 | -23,223,000 |
net cash from financing activities | 48,507,000 | -56,171,000 |
net increase in cash, cash equivalents and restricted cash | 194,308,000 | 1,068,000 |
cash, cash equivalents and restricted cash, beginning of period | 56,575,000 | |
cash, cash equivalents and restricted cash, end of period | 250,883,000 | |
supplemental disclosures: | ||
interest and credit facility fees paid during the period | 21,735,000 | 17,696,000 |
taxes, including excise tax, paid during the period | 2,723,000 | 0 |
dividends declared on preferred and common stock during the period | 23,757,000 | |
dividends reinvested during the period | 949,000 | |
supplemental disclosures of non-cash financing activities: | ||
common stock issued in preferred stock exchange | 50,000,000 | |
acquisition of csl iii | ||
non-cash assets acquired: | ||
investments, at fair value | 483,736,000 | |
interest receivable | 7,909,000 | |
other assets | 9,907,000 | |
total non-cash assets acquired | 501,552,000 | |
liabilities assumed: | ||
debt | 206,000,000 | |
interest payable | 2,666,000 | |
incentive fee payable | 1,413,000 | |
derivative liabilities, at fair value | 812,000 | |
other liabilities | 12,839,000 | |
total liabilities assumed | 223,730,000 | |
issuance of common stock pursuant to csl iii merger | 315,838,000 | |
merger costs capitalized into purchase price | 1,650,000 | |
acquisition of credit fund ii | ||
total liabilities assumed: | 227,000 | |
consolidation of investments in credit fund ii | 193,614,000 | |
transaction costs capitalized into purchase price | 103,000 | |
net realized (gain) loss on forward currency contracts | -2,784,000 | |
borrowings on credit facility | 288,932,000 | 34,000,000 |
repayments of credit facility | -215,500,000 | -65,267,000 |
net change in unrealized gain on derivative instruments | ||
repurchase of common stock | 0 | |
repayments of 2024 notes | ||
proceeds from issuance of senior notes | ||
cash, cash equivalents and restricted cash, beginning of year | ||
cash, cash equivalents and restricted cash, end of year | ||
interest and credit facility fees paid during the year | ||
taxes, including excise tax, paid during the year | ||
dividends declared on preferred and common stock during the year | ||
dividends reinvested during the year | ||
investments—non-controlled/non-affiliated | ||
first lien debt | ||
accession risk management group, inc. | ||
adpd holdings, llc | ||
advanced web technologies holding company | ||
ai grace aus bidco pty ltd | ||
allied benefit systems intermediate llc | ||
alpine acquisition corp ii | ||
amperscap llc | ||
apex companies holdings, llc | ||
applied technical services, llc | ||
appriss health, llc | ||
ardonagh midco 3 plc | ||
artifact bidco, inc. | ||
ascend buyer, llc | ||
associations, inc. | ||
athlete buyer, llc | ||
atlas us finco, inc. | ||
auditboard, inc. | ||
aurora lux finco s.Á.r.l. | ||
avalara, inc. | ||
azurite intermediate holdings, inc. | ||
barnes & noble, inc. | ||
bayside opcp, llc | ||
big bus tours group limited | ||
net unrealized gain on derivative instruments | ||
cash, cash equivalents, and restricted cash, beginning of period | 0 | |
cash, cash equivalents, and restricted cash, end of period | 1,068,000 | |
dividends declared on preferred stock and common stock during the period | 23,224,000 | |
american physician partners, llc | ||
atlas au bidco pty ltd | ||
bluecat networks, inc. | ||
bms holdings iii corp. | ||
bradyifs holdings, llc | ||
cd&r madison parent ltd | ||
analogic corporation | ||
apptio, inc. | ||
bubbles bidco s.p.a. | ||
celerion buyer, inc. | ||
chartis holding, llc | ||
net change in unrealized currency (gains) losses on non-investment assets and liabilities | ||
proceeds from sales and repayments of investments and change in receivable for investments sold/repaid | ||
dividend receivable | ||
borrowings on spv credit facility and credit facility | ||
repayments of spv credit facility and credit facility | ||
interest paid during the period | ||
airnov, inc. | ||
allied universal holdco llc | ||
bluecat networks (usa) inc. | ||
chemical computing group ulc | ||
circustrix holdings, llc | ||
comar holding company, llc | ||
cority software inc. | ||
captive resources midco, llc | ||
chudy group, llc | ||
cobblestone intermediate holdco llc | ||
dca investment holding llc | ||
net realized (gain) loss | ||
proceeds from contribution of investments to credit fund ii | ||
due to investment adviser | ||
proceeds from issuance of preferred stock | ||
proceeds from issuance of senior notes, net of unamortized debt issuance costs | ||
net increase in cash and cash equivalents | ||
interest paid during the year | ||
taxes, including excise tax, paid during year | ||
dividends declared during the year | ||
credit fund ii members’ interest received in consideration of contribution of investments | ||
avenu holdings, llc | ||
dca investment holding, llc | ||
alpha packaging holdings, inc. | ||
alpine sg, llc | ||
ams group holdco, llc | ||
central security group, inc. | ||
cash and cash equivalents, beginning of period | ||
cash and cash equivalents, end of period | ||
anchor hocking, llc | ||
at home holding iii, inc. | ||
proceeds from issuance of common stock, net of offering and underwriting costs | ||
proceeds from issuance of 2015-1r notes | ||
redemption of 2015-1 notes | ||
cash and cash equivalents, beginning of year | ||
cash and cash equivalents, end of year | ||
offering expenses and debt issuance costs due | ||
reinvestment of dividends | ||
derm growth partners iii, llc | ||
dermarite industries, llc | ||
designer brands inc. | ||
brooks equipment company, llc | ||
diligent corporation | ||
direct travel, inc. | ||
dti holdco, inc. | ||
digicel limited | ||
debt issuance costs payable | ||
dividends declared during the period | ||
repayments of debt assumed from nfic acquisition | ||
supplemental and non-cash activities: | ||
offering costs payable | ||
excise taxes paid during the period | ||
cost of investments received in the nfic acquisition from shares issued | ||
shares issued in consideration of nfic acquisition | ||
debt assumed from nfic acquisition | ||
access cig, llc | ||
achilles acquisition llc | ||
advanced instruments, llc | ||
anaren, inc. | ||
aquilex llc | ||
audax aamp holdings, inc. | ||
capstone logistics acquisition, inc. | ||
cip revolution holdings, llc | ||
colony hardware corporation | ||
continuum managed services holdco, llc | ||
dade paper & bag, llc | ||
datapipe, inc. | ||
dent wizard international corporation | ||
dimensional dental management, llc | ||
eip merger sub, llc | ||
emergency communications network, llc | ||
ep minerals, llc | ||
fcx holdings corp. | ||
frontline technologies holdings, llc | ||
proceeds from issuance of common stock, net of underwriting costs | ||
offering costs from issuance of common stock | ||
dimora brands, inc. | ||
genex holdings, inc. | ||
proceeds from issuance of common stock | ||
investments— non-controlled/non-affiliated | ||
baart programs, inc. | ||
global software, llc | ||
green energy partners/stonewall llc | ||
green plains ii llc | ||
hummel station llc | ||
imagine! print solutions, llc | ||
imperial bag & paper co. llc | ||
borrowings on revolving credit facility and facility | ||
repayments of revolving credit facility and facility | ||
proceeds from issuance of 2015-1 notes | ||
af borrower llc | ||
blue bird body company | ||
castle management borrower llc | ||
emerging markets communications, llc | ||
indra holdings corp. | ||
international medical group, inc. | ||
net accretion of discount on securities | ||
apx group, inc. | ||
crci holdings inc. | ||
jackson hewitt inc. | ||
language line, llc | ||
net realized (gain) loss on investments—non-controlled/non-affiliated | ||
net change in unrealized (appreciation) depreciation on investments—non- controlled/non-affiliated | ||
repayments of facility | ||
audax aamp holdings inc. | ||
proceeds from sales and repayments of investments | ||
debt issuance costs | ||
net increase in cash | ||
cash, beginning of period | ||
cash, end of period | ||
financing costs due to investment adviser | ||
acp tower merger sub, inc. | ||
american tire distributors, inc. | ||
consolidated aerospace manufacturing, llc. | ||
coyote logistics, llc | ||
dtz u.s. borrower, llc | ||
hercules achievement, inc. | ||
landslide holdings, inc. | ||
meritas schools holdings, llc |