0001414932-23-000005 | 10-Q | XBRL Viewer | Oaktree Specialty Lending Corp

Cover - shares	3 Months Ended
Cover - shares	Dec. 31, 2022	Feb. 06, 2023
Cover [Abstract]
Document Type	10-Q
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Securities Act File Number	1-33901
Entity Registrant Name	Oaktree Specialty Lending Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1219283
Entity Address, Address Line Two	28th Floor
Entity Address, Address Line One	333 South Grand Avenue
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90071
City Area Code	213
Local Phone Number	830-6300
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	OCSL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		77,079,805
Entity Central Index Key	0001414932
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Current Fiscal Year End Date	--09-30

Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands

Dec. 31, 2022

Sep. 30, 2022

Dec. 31, 2021

Assets [Abstract]

Investments at fair value

$ 123,339

$ 133,144

Cash and cash equivalents

9,777

7,021

Restricted cash

1,747

1,788

Due from portfolio companies

6,181

22,495

Due from broker

39,760

45,530

Deferred financing costs

6,781

7,350

Deferred offering costs

Deferred tax asset, net

1,722

1,687

Derivative assets at fair value

6,789

Other assets

2,592

4,855

Total assets

137,455

146,808

Liabilities [Abstract]

Accounts payable, accrued expenses and other liabilities

3,035

3,701

Base management fee and incentive fee payable

16,871

15,940

$ 15,900

Due to affiliate

3,260

3,180

Interest payable

13,368

7,936

Derivative liability at fair value

44,139

41,969

Credit facilities payable

76,082

82,082

Unsecured notes payable (net of $4,650 and $5,020 of unamortized financing costs as of December 31, 2022 and September 30, 2022, respectively)

603,624

601,043

Total liabilities

137,455

146,808

Commitments and contingencies (Note 13)

Net Assets [Abstract]

Common stock, $0.01 par value per share, 250,000 shares authorized; 61,220 and 61,125 shares issued and outstanding as of December 31, 2022 and September 30, 2022, respectively (1)

^[1]

612

611

Additional paid-in-capital

1,829,653

1,827,721

Accumulated overdistributed earnings

(628,276)

(582,769)

Total net assets (equivalent to $19.63 and $20.38 per common share as of December 31, 2022 and September 30, 2022, respectively) (Note 11) (1)

1,201,989

1,245,563

$ 1,325,061

Total liabilities and net assets

$ 137,455

$ 146,808

[1]	(1) As discussed in Note 2, the Company completed a 1-for-3 reverse stock split on January 20, 2023, effective as of the commencement of trading on January 23, 2023. The issued and outstanding shares and net asset value per share reflect the reverse stock split on a retroactive basis.

Consolidated Statements of Assets and Liabilities (Parenthetical) $ in Thousands	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares
Investment owned, at cost \| $	$ 131,077	$ 140,083
Unamortized financing costs \| $	$ 4,650	$ 5,020
Common stock, par value, (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	61,220,000	61,125,000
Common stock, shares outstanding (in shares)	61,220,000	61,125,000
Net asset value per common share (dollars per share) \| $ / shares	$ 19.63	$ 20.38

Consolidated Statements of Operations
$ in Thousands

3 Months Ended

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Revenues [Abstract]

Interest on cash and cash equivalents

$ 472

$ 1

Total interest income

69,978

55,450

Total investment income

3,403

2,160

Operating Expenses [Abstract]

Base management fee

9,917

9,952

Part I incentive fee

7,703

6,457

Part II incentive fee

1,751

Professional fees

1,500

1,322

Directors fees

160

123

Interest expense

20,719

9,400

Administrator expense

298

390

General and administrative expenses

746

693

Total expenses

2,662

1,367

Fees waived

(750)

Net investment income before taxes

741

793

Excise tax

(78)

Unrealized appreciation (depreciation):

Net unrealized appreciation (depreciation)

(651)

(882)

Foreign currency forward contracts

(11,001)

(837)

Realized gains (losses):

Realized gain (loss)

(90)

Foreign currency forward contracts

4,448

2,972

Net increase (decrease) in net assets resulting from operations

$ 0

Net investment income per common share - basic and diluted (dollars per share) | $ / shares

^[1]

$ 0.63

$ 0.54

Earnings (loss) per common share - basic (dollars per share) | $ / shares

^[1]

0.22

0.66

Earnings (loss) per common share - diluted (dollars per share) | $ / shares

^[1]

$ 0.22

$ 0.66

Weighted average common shares outstanding - basic (shares) | shares

^[1]

61,142,000

60,127,000

Weighted average common shares outstanding - diluted (shares) | shares

^[1]

61,142,000

60,127,000

[1]	(1) As discussed in Note 2, the Company completed a 1-for-3 reverse stock split on January 20, 2023, effective as of the commencement of trading on January 23, 2023. The weighted average common shares outstanding and per share information reflect the reverse stock split on a retroactive basis.

Consolidated Statements of Changes in Net Assets $ in Thousands	3 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Net increase (decrease) in net assets resulting from operations
Net increase (decrease) in net assets resulting from operations	$ 0	$ 0
Stockholder transactions:
Net increase (decrease) in net assets from stockholder transactions	(58,679)	(27,956)
Capital share transactions:
Issuance of common stock under dividend reinvestment plan	1,933	786
Net increase (decrease) in net assets from capital share transactions	1,933	786
Total increase (decrease) in net assets	(43,574)	12,238
Net assets	$ 1,201,989	$ 1,325,061
Net asset value per common share (dollars per share) \| $ / shares	$ 19.63	$ 22.03
Common shares outstanding at end of period (shares) \| shares	61,220,000	60,156,000

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Operating activities:
Net increase (decrease) in net assets resulting from operations	$ 0	$ 0
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Accretion of original issue discount on investments	(5,127)	(7,076)
Accretion of original issue discount on unsecured notes payable	170	170
Amortization of deferred financing costs	828	924
Deferred taxes	(35)	(959)
Changes in operating assets and liabilities:
(Increase) decrease in interest, dividends and fees receivable	(1,842)	1,796
(Increase) decrease in due from portfolio companies	16,314	(803)
(Increase) decrease in receivables from unsettled transactions	(3,966)	(17,673)
(Increase) decrease in due from broker	5,770	(1,810)
(Increase) decrease in other assets	(2,546)	(564)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(554)	3,145
Increase (decrease) in due to affiliate	80	(854)
Increase (decrease) in interest payable	5,432	2,101
Increase (decrease) in payables from unsettled transactions	(6,007)	32,717
Increase (decrease) in director fees payable	0	123
Net cash provided by (used in) operating activities	(109,898)	23,185
Financing activities:
Distributions paid in cash	(56,746)	(27,170)
Borrowings under credit facilities	202,000	70,000
Repayments of borrowings under credit facilities	(42,000)	(50,000)
Deferred financing costs paid	0	(334)
Net cash provided by (used in) financing activities	103,254	(7,504)
Effect of exchange rate changes on foreign currency	(475)	(1,259)
Net increase (decrease) in cash and cash equivalents and restricted cash	(7,119)	14,422
Cash and cash equivalents and restricted cash, beginning of period	26,364	31,635
Cash and cash equivalents and restricted cash, end of period	19,245	46,057
Supplemental information:
Cash paid for interest	14,289	6,205
Non-cash financing activities:
Issuance of common stock under dividend reinvestment plan	1,933	$ 786
Reconciliation to the Consolidated Statements of Assets and Liabilities [Abstract]
Cash and cash equivalents	9,777		$ 7,021
Restricted cash	1,747		1,788
Total cash and cash equivalents and restricted cash	$ 19,245		$ 26,364

Consolidated Schedule of Investments
€ in Thousands, $ in Thousands

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2022

EUR (€)

Sep. 30, 2022

USD ($)

$ / shares

Sep. 30, 2022

EUR (€)

Dec. 31, 2021

$ / shares

Investment owned, balance (in shares) | shares

7,193,539.63

1,080,399

Investment owned, ownership percentage

87.50%

Investment owned, exercise price (in dollars per share) | $ / shares

$ 0.01

^{[1],[2],[3],[4],[5],[6]}

$ 0.01

^{[7],[8],[9],[10],[11],[12]}

$ 3.3778

Investment interest rate

9.73%

10.56%

7.75%

Investment owned, balance, principal amount

$ 3,990

€ 3,000

^[13],[14]

$ 143,225

€ 16,911

^{[8],[15],[16],[17]}

Investment owned, at cost

131,077

140,083

Investments at fair value

$ 123,339

$ 133,144

% of Total Net Assets

21.20%

7.24%

21.00%

Money market funds, at carrying value

$ 19,245

$ 26,364

Money market funds, percent of net assets

1.60%

^{[2],[3],[4],[5],[6]}

1.60%

^{[2],[3],[4],[5],[6]}

2.10%

^{[7],[9],[10],[11],[12]}

2.10%

^{[7],[9],[10],[11],[12]}

Investment owned and money market funds, percent of net assets

221.50%

^{[2],[3],[4],[5],[6]}

221.50%

^{[2],[3],[4],[5],[6]}

202.40%

^{[7],[9],[10],[11],[12]}

202.40%

^{[7],[9],[10],[11],[12]}

Total investment owned, at cost and money market funds, at carrying value

$ 2,797,259

$ 2,644,118

Total investment owned, at fair value and money market funds, at carrying value

$ 2,662,115

$ 2,520,475

[1]	As of December 31, 2022, these investments were categorized as Level 3 within the fair value hierarchy established by Financial Accounting Standards Board ("FASB") guidance under Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("ASC 820").
[2]	All debt investments are income producing unless otherwise noted. All equity investments are non-income producing unless otherwise noted.
[3]	Each of the Company's investments is pledged as collateral under one or more of its credit facilities. A single investment may be divided into parts that are individually pledged as collateral to separate credit facilities.
[4]	Equity ownership may be held in shares or units of companies related to the portfolio companies.
[5]	Interest rates may be adjusted from period to period on certain term loans and revolvers. These rate adjustments may be either temporary in nature due to tier pricing arrangements or financial or payment covenant violations in the original credit agreements or permanent in nature per loan amendment or waiver documents.
[6]	See Note 3 in the accompanying notes to the Consolidated Financial Statements for portfolio composition by geographic region.
[7]	All debt investments are income producing unless otherwise noted. All equity investments are non-income producing unless otherwise noted.
[8]	As of September 30, 2022, these investments were categorized as Level 3 within the fair value hierarchy established by FASB guidance under ASC 820.
[9]	Each of the Company's investments is pledged as collateral under one or more of its credit facilities. A single investment may be divided into parts that are individually pledged as collateral to separate credit facilities.
[10]	Equity ownership may be held in shares or units of companies related to the portfolio companies.
[11]	Interest rates may be adjusted from period to period on certain term loans and revolvers. These rate adjustments may be either temporary in nature due to tier pricing arrangements or financial or payment covenant violations in the original credit agreements or permanent in nature per loan amendment or waiver documents.
[12]	See Note 3 in the accompanying notes to the Consolidated Financial Statements for portfolio composition by geographic region.
[13]	Investment is not a "qualifying asset" as defined under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company's total assets. As of December 31, 2022, qualifying assets represented 73.8% of the Company's total assets and non-qualifying assets represented 26.2% of the Company's total assets.
[14]	The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to the London Interbank Offered Rate ("LIBOR") and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to the secured overnight financing rate ("SOFR") or the sterling overnight index average ("SONIA"). The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rate based on each respective credit agreement and the cash interest rate as of period end. All LIBOR shown above is in U.S. dollars unless otherwise noted. As of December 31, 2022, the reference rates for the Company's variable rate loans were the 30-day LIBOR at 4.38%, the 90-day LIBOR at 4.73%, the 180-day LIBOR at 5.15%, the PRIME at 7.50%, the 30-day SOFR at 4.32%, the 90-day SOFR at 4.58%, the 180-day SOFR at 4.79%, the SONIA at 3.43%, the 30-day EURIBOR at 1.90%, the 90-day EURIBOR at 1.99% and the 180-day EURIBOR at 0.38%. Most loans include an interest floor, which generally ranges from 0% to 2%. SOFR and SONIA based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.
[15]	Investment is not a "qualifying asset" as defined under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company's total assets. As of September 30, 2022, qualifying assets represented 75.7% of the Company's total assets and non-qualifying assets represented 24.3% of the Company's total assets.
[16]	Principal includes accumulated PIK interest and is net of repayments, if any. “£” signifies the investment is denominated in British Pounds. "€" signifies the investment is denominated in Euros. All other investments are denominated in U.S. dollars.
[17]	The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR or SONIA. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rate based on each respective credit agreement and the cash interest rate as of period end. All LIBOR shown above is in U.S. dollars unless otherwise noted. As of September 30, 2022, the reference rates for the Company's variable rate loans were the 30-day LIBOR at 3.12%, the 90-day LIBOR at 3.67%, the 180-day LIBOR at 4.17%, the 360-day LIBOR at 4.78%, the PRIME at 6.25%, the 30-day SOFR at 3.03%, the 90-day SOFR at 3.55%, the SONIA at 1.69%, the 30-day EURIBOR at 0.69%, the 90-day EURIBOR at 0.99% and the 180-day EURIBOR at 0.38%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR and SONIA based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

Consolidated Schedule of Investments - Derivatives - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Schedule of Investments [Line Items]
Derivative liability at fair value	$ (44,139)	$ (41,969)
Foreign currency forward contracts
Schedule of Investments [Line Items]
Notional Amount to be Purchased	46,412	45,692
Notional Amount to be Sold	39,965	37,033
Gross Amount of Recognized Liabilities	(4,211)	6,789
Interest rate swap
Schedule of Investments [Line Items]
Gross Amount of Recognized Liabilities	$ 39,928	$ 41,969
Interest rate	2.70%	2.70%
Floating interest rate	1.658%	1.658%
Notional amount	$ 350,000	$ 350,000
Derivative liability at fair value	$ (39,928)	$ (41,969)

Consolidated Schedule of Investments (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Schedule of Investments [Line Items]
Percentage of total assets representing qualifying assets	73.80%	75.70%
Percentage of total assets representing non-qualifying assets	26.20%	24.30%
Share-Based Payment Arrangement, Tranche One
Schedule of Investments [Line Items]
Investment owned, balance, shares, VWAP threshold (in dollars per share)	$ 15.00	$ 15.00
Investment owned, balance, shares, VWAP number of trading days	10 days	10 days
Investment owned, balance, shares, VWAP, number of consecutive trading days	20 days	20 days
Share-Based Payment Arrangement, Tranche Two
Schedule of Investments [Line Items]
Investment owned, balance, shares, VWAP threshold (in dollars per share)	$ 20.00	$ 20.00
Investment owned, balance, shares, VWAP number of trading days	10 days	10 days
Investment owned, balance, shares, VWAP, number of consecutive trading days	20 days	20 days

Organization	3 Months Ended
Organization	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Oaktree Specialty Lending Corporation (together with its consolidated subsidiaries, the "Company") is a specialty finance company that looks to provide customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company was formed in late 2007 and operates as a closed-end, externally managed, non-diversified management investment company that has elected to be regulated as a Business Development Company under the Investment Company Act. The Company has qualified and elected to be treated as a regulated investment company ("RIC") under the Internal Revenue Code of 1986, as amended (the "Code"), for U.S. federal income tax purposes. The Company's investment objective is to generate current income and capital appreciation by providing companies with flexible and innovative financing solutions, including first and second lien loans, unsecured and mezzanine loans, bonds, preferred equity and certain equity co-investments. The Company may also seek to generate capital appreciation and income through secondary investments at discounts to par in either private or syndicated transactions. The Company is externally managed by Oaktree Fund Advisors, LLC ("Oaktree"), pursuant to an investment advisory agreement between the Company and Oaktree (as amended and restated, the "Investment Advisory Agreement"). Oaktree is an affiliate of Oaktree Capital Management, L.P. ("OCM"), the Company's external investment adviser from October 17, 2017 through May 3, 2020. Oaktree Fund Administration, LLC ("Oaktree Administrator"), a subsidiary of OCM, provides certain administrative and other services necessary for the Company to operate pursuant to an administration agreement between the Company and Oaktree Administrator (the "Administration Agreement"). See Note 10. In 2019, Brookfield Corporation (f/k/a Brookfield Asset Management Inc.) ("Brookfield") acquired a majority economic interest in Oaktree Capital Group, LLC. Oaktree and its affiliates operate as an independent business within Brookfield, with their own product offerings and investment, marketing and support teams. On March 19, 2021, the Company acquired Oaktree Strategic Income Corporation (“OCSI”), pursuant to that certain Agreement and Plan of Merger (the “OCSI Merger Agreement”), dated as of October 28, 2020, by and among OCSI, the Company, Lion Merger Sub, Inc., a wholly-owned subsidiary of the Company, and, solely for the limited purposes set forth therein, Oaktree. Pursuant to the OCSI Merger Agreement, OCSI was merged with and into the Company in a two-step transaction, with the Company as the surviving company (the "OCSI Merger”). On January 23, 2023, the Company acquired Oaktree Strategic Income II, Inc. (“OSI2”) pursuant to that certain Agreement and Plan of Merger (the “OSI2 Merger Agreement”), dated as of September 14, 2022, by and among OSI2, the Company, Project Superior Merger Sub, Inc., a wholly-owned subsidiary of the Company, and, solely for the limited purposes set forth therein, Oaktree. Pursuant to the OSI2 Merger Agreement, OSI2 was merged with and into the Company in a two-step transaction with the Company as the surviving company (the “OSI2 Merger”). See Note 14.

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation: The Consolidated Financial Statements of the Company have been prepared in accordance with GAAP and pursuant to the requirements for reporting on Form 10-Q and Regulation S-X. In the opinion of management, all adjustments of a normal recurring nature considered necessary for the fair presentation of the Consolidated Financial Statements have been made. All intercompany balances and transactions have been eliminated. The Company is an investment company following the accounting and reporting guidance in ASC Topic 946, Financial Services - Investment Companies ("ASC 946"). Certain prior period amounts have been reclassified to conform to the current period presentation. All per share amounts and common shares outstanding as of and for the three months ended December 31, 2022 and all prior periods reflect the Company's 1-for-3 reverse stock split completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023. Use of Estimates: The preparation of the financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make certain estimates and assumptions affecting amounts reported in the financial statements and accompanying notes. These estimates are based on the information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Changes in the economic and political environments, financial markets and any other parameters used in determining these estimates could cause actual results to differ and such differences could be material. Significant estimates include the valuation of investments and revenue recognition. Consolidation: The accompanying Consolidated Financial Statements include the accounts of Oaktree Specialty Lending Corporation and its consolidated subsidiaries. Each consolidated subsidiary is wholly-owned and, as such, consolidated into the Consolidated Financial Statements. Certain subsidiaries that hold investments are treated as pass through entities for U.S. federal income tax purposes. The assets of certain of the consolidated subsidiaries are not directly available to satisfy the claims of the creditors of Oaktree Specialty Lending Corporation or any of its other subsidiaries. As an investment company, portfolio investments held by the Company are not consolidated into the Consolidated Financial Statements but rather are included on the Statements of Assets and Liabilities as investments at fair value. Fair Value Measurements: The Company values its investments in accordance with ASC 820, which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A liability's fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. ASC 820 prioritizes the use of observable market prices over entity-specific inputs. Where observable prices or inputs are not available or reliable, valuation techniques are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the investments or market and the investments' complexity. Hierarchical levels, defined by ASC 820 and directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities, are as follows: •Level 1 — Unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. •Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data at the measurement date for substantially the full term of the assets or liabilities. •Level 3 — Unobservable inputs that reflect Oaktree's best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. If inputs used to measure fair value fall into different levels of the fair value hierarchy, an investment's level is based on the lowest level of input that is significant to the fair value measurement. Oaktree's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. This includes investment securities that are valued using "bid" and "ask" prices obtained from independent third party pricing services or directly from brokers. These investments may be classified as Level 3 because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities or may require adjustments for investment-specific factors or restrictions. Financial instruments with readily available quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment inherent in measuring fair value. As such, Oaktree obtains and analyzes readily available market quotations provided by pricing vendors and brokers for all of the Company's investments for which quotations are available. In determining the fair value of a particular investment, pricing vendors and brokers use observable market information, including both binding and non-binding indicative quotations. Oaktree seeks to obtain at least two quotations for the subject or similar securities, typically from pricing vendors. If Oaktree is unable to obtain two quotes from pricing vendors, or if the prices obtained from pricing vendors are not within Oaktree's set threshold, Oaktree seeks to obtain a quote directly from a broker making a market for the asset. Oaktree evaluates the quotations provided by pricing vendors and brokers based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. Oaktree also performs back-testing of valuation information obtained from pricing vendors and brokers against actual prices received in transactions. In addition to ongoing monitoring and back-testing, Oaktree performs due diligence procedures over pricing vendors to understand their methodology and controls to support their use in the valuation process. Generally, Oaktree does not adjust any of the prices received from these sources. If the quotations obtained from pricing vendors or brokers are determined to not be reliable or are not readily available, Oaktree values such investments using any of three different valuation techniques. The first valuation technique is the transaction precedent technique, which utilizes recent or expected future transactions of the investment to determine fair value, to the extent applicable. The second valuation technique is an analysis of the enterprise value ("EV") of the portfolio company. EV means the entire value of the portfolio company to a market participant, including the sum of the values of debt and equity securities used to capitalize the enterprise at a point in time. The EV analysis is typically performed to determine (i) the value of equity investments, (ii) whether there is credit impairment for debt investments and (iii) the value for debt investments that the Company is deemed to control under the Investment Company Act. To estimate the EV of a portfolio company, Oaktree analyzes various factors, including the portfolio company’s historical and projected financial results, macroeconomic impacts on the company and competitive dynamics in the company’s industry. Oaktree also utilizes some or all of the following information based on the individual circumstances of the portfolio company: (i) valuations of comparable public companies, (ii) recent sales of private and public comparable companies in similar industries or having similar business or earnings characteristics, (iii) purchase prices as a multiple of their earnings or cash flow, (iv) the portfolio company’s ability to meet its forecasts and its business prospects, (v) a discounted cash flow analysis, (vi) estimated liquidation or collateral value of the portfolio company's assets and (vii) offers from third parties to buy the portfolio company. Oaktree may probability weight potential sale outcomes with respect to a portfolio company when uncertainty exists as of the valuation date. The third valuation technique is a market yield technique, which is typically performed for non-credit impaired debt investments. In the market yield technique, a current price is imputed for the investment based upon an assessment of the expected market yield for a similarly structured investment with a similar level of risk, and Oaktree considers the current contractual interest rate, the capital structure and other terms of the investment relative to risk of the company and the specific investment. A key determinant of risk, among other things, is the leverage through the investment relative to the EV of the portfolio company. As debt investments held by the Company are substantially illiquid with no active transaction market, Oaktree depends on primary market data, including newly funded transactions and industry specific market movements, as well as secondary market data with respect to high yield debt instruments and syndicated loans, as inputs in determining the appropriate market yield, as applicable. In accordance with ASC 820-10, certain investments that qualify as investment companies in accordance with ASC 946 may be valued using net asset value as a practical expedient for fair value. Consistent with FASB guidance under ASC 820, these investments are excluded from the hierarchical levels. These investments are generally not redeemable. Oaktree estimates the fair value of certain privately held warrants using a Black Scholes pricing model, which includes an analysis of various factors and subjective assumptions, including the current stock price (by using an EV analysis as described above), the expected period until exercise, expected volatility of the underlying stock price, expected dividends and the risk free rate. Changes in the subjective input assumptions can materially affect the fair value estimates. Rule 2a-5 under the Investment Company Act permits boards of directors of registered investment companies and Business Development Companies to either (i) choose to determine fair value in good faith or (ii) designate a valuation designee tasked with determining fair value in good faith, subject to the board’s oversight. The Company's Board of Directors has designated Oaktree to serve as its valuation designee effective September 8, 2022. Oaktree undertakes a multi-step valuation process each quarter in connection with determining the fair value of the Company's investments: •The quarterly valuation process begins with each portfolio company or investment being initially valued by Oaktree's valuation team; •Preliminary valuations are then reviewed and discussed with management of Oaktree; •Separately, independent valuation firms prepare valuations of the Company's investments, on a selected basis, for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of the investment, and submit the reports to the Company and provide such reports to Oaktree; •Oaktree compares and contrasts its preliminary valuations to the valuations of the independent valuation firms and prepares a valuation report for the Audit Committee; •The Audit Committee reviews the valuation report with Oaktree, and Oaktree responds and supplements the valuation report to reflect any discussions between Oaktree and the Audit Committee; and •Oaktree, as valuation designee, determines the fair value of each investment in the Company's portfolio. The fair value of the Company's investments as of December 31, 2022 and September 30, 2022 was determined by Oaktree, as the Company's valuation designee. The Company has and will continue to engage independent valuation firms to provide assistance regarding the determination of the fair value of a portion of its portfolio securities for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of the investment each quarter. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Because of the inherent uncertainty of valuation, these estimated values may differ significantly from the values that would have been reported had a ready market for the investments existed, and it is reasonably possible that the difference could be material. With the exception of the line items entitled "deferred financing costs," "deferred offering costs," "other assets," "deferred tax asset, net," "credit facilities payable" and "unsecured notes payable," which are reported at amortized cost, all assets and liabilities approximate fair value on the Consolidated Statements of Assets and Liabilities. The carrying value of the line items titled "interest, dividends and fees receivable," "due from portfolio companies," "receivables from unsettled transactions," "due from broker," "accounts payable, accrued expenses and other liabilities," "base management fee and incentive fee payable," "due to affiliate," "interest payable" and "payables from unsettled transactions" approximate fair value due to their short maturities. Foreign Currency Translation: The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the prevailing foreign exchange rate on the reporting date. The Company does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. The Company’s investments in foreign securities may involve certain risks, including foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company. Derivative Instruments: Foreign Currency Forward Contracts The Company uses foreign currency forward contracts to reduce the Company's exposure to fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Company agrees to receive or deliver a fixed quantity of one currency for another at a pre-determined price at a future date. Foreign currency forward contracts are marked-to-market at the applicable forward rate. Unrealized appreciation (depreciation) on foreign currency forward contracts is recorded within derivative assets or derivative liabilities on the Consolidated Statements of Assets and Liabilities by counterparty on a net basis, not taking into account collateral posted which is recorded separately, if applicable. Purchases and settlements of foreign currency forward contracts having the same settlement date and counterparty are generally settled net and any realized gains or losses are recognized on the settlement date. The Company does not utilize hedge accounting with respect to foreign currency forward contracts and as such, the Company recognizes its foreign currency forward contracts at fair value with changes included in the net unrealized appreciation (depreciation) on the Consolidated Statements of Operations. Interest Rate Swaps The Company uses an interest rate swap to hedge some of the Company's fixed rate debt. The Company designated the interest rate swap as the hedging instrument in an effective hedge accounting relationship, and therefore the periodic payments are recognized as components of interest expense in the Consolidated Statements of Operations. Depending on the nature of the balance at period end, the fair value of the interest rate swap is either included as a derivative asset or derivative liability on the Company's Consolidated Statements of Assets and Liabilities. The change in fair value of the interest rate swap is offset by a change in the carrying value of the fixed rate debt. Any amounts paid to the counterparty to cover collateral obligations under the terms of the interest rate swap agreement are included in due from broker on the Company's Consolidated Statements of Assets and Liabilities. Investment Income: Interest Income Interest income, adjusted for accretion of original issue discount ("OID"), is recorded on an accrual basis to the extent that such amounts are expected to be collected. The Company stops accruing interest on investments when it is determined that interest is no longer collectible. Investments that are expected to pay regularly scheduled interest in cash are generally placed on non-accrual status when there is reasonable doubt that principal or interest cash payments will be collected. Cash interest payments received on investments may be recognized as income or a return of capital depending upon management’s judgment. A non-accrual investment is restored to accrual status if past due principal and interest are paid in cash and the portfolio company, in management’s judgment, is likely to continue timely payment of its remaining obligations. As of each of December 31, 2022 and September 30, 2022, there were no investments on non-accrual status. In connection with its investment in a portfolio company, the Company sometimes receives nominal cost equity that is valued as part of the negotiation process with the portfolio company. When the Company receives nominal cost equity, the Company allocates its cost basis in the investment between debt securities and the nominal cost equity at the time of origination. Any resulting discount from recording the loan, or otherwise purchasing a security at a discount, is accreted into interest income over the life of the loan. PIK Interest Income The Company's investments in debt securities may contain PIK interest provisions. PIK interest, which generally represents contractually deferred interest added to the loan balance that is generally due at the end of the loan term, is generally recorded on the accrual basis to the extent such amounts are expected to be collected. The Company generally ceases accruing PIK interest if there is insufficient value to support the accrual or if the Company does not expect the portfolio company to be able to pay all principal and interest due. The Company's decision to cease accruing PIK interest on a loan or debt security involves subjective judgments and determinations based on available information about a particular portfolio company, including whether the portfolio company is current with respect to its payment of principal and interest on its loans and debt securities; financial statements and financial projections for the portfolio company; the Company's assessment of the portfolio company's business development success; information obtained by the Company in connection with periodic formal update interviews with the portfolio company's management and, if appropriate, the private equity sponsor; and information about the general economic and market conditions in which the portfolio company operates. The Company's determination to cease accruing PIK interest is generally made well before the Company's full write-down of a loan or debt security. In addition, if it is subsequently determined that the Company will not be able to collect any previously accrued PIK interest, the fair value of the loans or debt securities would be reduced by the amount of such previously accrued, but uncollectible, PIK interest. The accrual of PIK interest on the Company’s debt investments increases the recorded cost bases of these investments in the Consolidated Financial Statements including for purposes of computing the capital gains incentive fee payable by the Company to Oaktree. To maintain its status as a RIC, certain income from PIK interest may be required to be distributed to the Company’s stockholders, even though the Company has not yet collected the cash and may never do so. Fee Income Oaktree or its affiliates may provide financial advisory services to portfolio companies and, in return, the Company may receive fees for capital structuring services. These fees are generally non-recurring and are recognized by the Company upon the investment closing date. The Company may also receive additional fees in the ordinary course of business, including servicing, amendment and prepayment fees, which are classified as fee income and recognized as they are earned or the services are rendered. The Company has also structured exit fees across certain of its portfolio investments to be received upon the future exit of those investments. These fees are typically paid to the Company upon the earliest to occur of (i) a sale of the borrower or substantially all of the assets of the borrower, (ii) the maturity date of the loan or (iii) the date when full prepayment of the loan occurs. The receipt of such fees is contingent upon the occurrence of one of the events listed above for each of the investments. These fees are included in net investment income over the life of the loan. Dividend Income The Company generally recognizes dividend income on the ex-dividend date for public securities and the record date for private equity investments. Distributions received from private equity investments are evaluated to determine if the distribution should be recorded as dividend income or a return of capital. Generally, the Company will not record distributions from private equity investments as dividend income unless there are sufficient earnings at the portfolio company prior to the distribution. Distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment. Cash and Cash Equivalents and Restricted Cash: Cash and cash equivalents consist of demand deposits and highly liquid investments with maturities of three months or less when acquired. The Company places its cash and cash equivalents and restricted cash with financial institutions and, at times, cash held in bank accounts may exceed the Federal Deposit Insurance Corporation ("FDIC") insurance limit. Cash and cash equivalents are included on the Company's Consolidated Schedule of Investments and cash equivalents are classified as Level 1 assets. As of December 31, 2022 and September 30, 2022, included in restricted cash was $1.9 million and $2.8 million, respectively, that was held at Wells Fargo Bank, N.A. in connection with the Citibank Facility (as defined in Note 6. Borrowings). Pursuant to the terms of the Citibank Facility, the Company was restricted in terms of access to $1.9 million and $2.8 million as of December 31, 2022 and September 30, 2022, respectively, until the occurrence of the periodic distribution dates and, in connection therewith, the Company’s submission of its required periodic reporting schedules and verifications of the Company’s compliance with the terms of the Citibank Facility. Due from Portfolio Companies: Due from portfolio companies consists of amounts payable to the Company from its portfolio companies, including proceeds from the sale of portfolio companies not yet received or being held in escrow and excluding those amounts attributable to interest, dividends or fees receivable. These amounts are recognized as they become payable to the Company (e.g., principal payments on the scheduled amortization payment date). Receivables/Payables from Unsettled Transactions: Receivables/payables from unsettled transactions consist of amounts receivable to or payable by the Company for transactions that have not settled at the reporting date. Deferred Financing Costs: Deferred financing costs consist of fees and expenses paid in connection with the closing or amending of credit facilities and debt offerings. Deferred financing costs in connection with credit facilities are capitalized as an asset when incurred. Deferred financing costs in connection with all other debt arrangements are a direct deduction from the related debt liability when incurred. Deferred financing costs are amortized using the effective interest method over the term of the respective debt arrangement. This amortization expense is included in interest expense in the Company's Consolidated Statements of Operations. Upon early termination or modification of a credit facility, all or a portion of unamortized fees related to such facility may be accelerated into interest expense. For extinguishments of the Company’s unsecured notes payable, any unamortized deferred financing costs are deducted from the carrying amount of the debt in determining the gain or loss from the extinguishment. Deferred Offering Costs: Legal fees and other costs incurred in connection with the Company’s shelf registration statement are capitalized as deferred offering costs in the Consolidated Statements of Assets and Liabilities. To the extent any such costs relate to equity offerings, these costs are charged as a reduction of capital upon utilization. To the extent any such costs relate to debt offerings, these costs are treated as deferred financing costs and are amortized over the term of the respective debt arrangement. Any deferred offering costs that remain at the expiration of the shelf registration statement or when it becomes probable that an offering will not be completed are expensed. Income Taxes: The Company has elected to be subject to tax as a RIC under Subchapter M of the Code and operates in a manner so as to qualify for the tax treatment applicable to RICs. In order to be subject to tax as a RIC, among other things, the Company is required to meet certain source of income and asset diversification requirements and timely distribute dividends to its stockholders of an amount generally at least equal to 90% of investment company taxable income, as defined by the Code and determined without regard to any deduction for dividends paid, for each taxable year. As a RIC, the Company is not subject to U.S. federal income tax on the portion of its taxable income and gains distributed currently to stockholders as a dividend. Depending on the level of taxable income earned during a taxable year, the Company may choose to retain taxable income in excess of current year dividend distributions and would distribute such taxable income in the next taxable year. The Company would then incur a 4% excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income, determined on a calendar year basis, could exceed estimated current calendar year dividend distributions, the Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. The Company anticipates timely distribution of its taxable income within the tax rules under Subchapter M of the Code. The Company did not incur a U.S. federal excise tax for calendar year 2021. For the calendar year 2022, the Company incurred $0.1 million of excise tax. The Company does not expect to incur a U.S. federal excise tax for calendar year 2023. The Company holds certain portfolio investments through taxable subsidiaries. The purpose of the Company's taxable subsidiaries is to permit the Company to hold equity investments in portfolio companies which are "pass through" entities for U.S. federal income tax purposes in order to comply with the RIC tax requirements. The taxable subsidiaries are consolidated for financial reporting purposes, and portfolio investments held by them are included in the Company’s Consolidated Financial Statements as portfolio investments and recorded at fair value. The taxable subsidiaries are not consolidated with the Company for U.S. federal income tax purposes and may generate income tax expense, or benefit, and the related tax assets and liabilities, as a result of their ownership of certain portfolio investments. This income tax expense, if any, would be reflected in the Company's Consolidated Statements of Operations. The Company uses the liability method to account for its taxable subsidiaries' income taxes. Using this method, the Company recognizes deferred tax assets and liabilities for the estimated future tax effects attributable to temporary differences between financial reporting and tax bases of assets and liabilities. In addition, the Company recognizes deferred tax benefits associated with net operating loss carry forwards that it may use to offset future tax obligations. The Company measures deferred tax assets and liabilities using the enacted tax rates expected to apply to taxable income in the years in which it expects to recover or settle those temporary differences. FASB ASC Topic 740, Accounting for Uncertainty in Income Taxes ("ASC 740"), provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the Company's Consolidated Financial Statements. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current year. Management's determinations regarding ASC 740 may be subject to review and adjustment at a later date based upon factors including an ongoing analysis of tax laws, regulations and interpretations thereof. The Company recognizes the tax benefits of uncertain tax positions only where the position is "more-likely-than-not" to be sustained assuming examination by tax authorities. Management has analyzed the Company's tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years 2019, 2020 and 2021. The Company identifies its major tax jurisdictions as U.S. Federal and California, and the Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months. Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting if certain criteria are met. The guidance is effective from March 12, 2020 through December 31, 2022. As of December 31, 2022, the adoption of this guidance did not have an impact on the Company's Consolidated Financial Statements.

Portfolio Investments

3 Months Ended

Dec. 31, 2022

Schedule of Investments [Abstract]

Portfolio Investments

As of December 31, 2022, 219.9% of net assets at fair value, or $2.6 billion, was invested in 156 portfolio companies, including (i) $136.8 million in subordinated notes and limited liability company ("LLC") equity interests of Senior Loan Fund JV I, LLC ("SLF JV I"), a joint venture through which the Company and Trinity Universal Insurance Company, a subsidiary of Kemper Corporation ("Kemper"), co-invest in senior secured loans of middle-market companies and other corporate debt securities and (ii) $49.5 million in subordinated notes and LLC equity interests of OCSI Glick JV LLC ("Glick JV" and, together with SLF JV I, the "JVs"), a joint venture through which the Company and GF Equity Funding 2014 LLC ("GF Equity Funding") co-invest primarily in senior secured loans of middle-market companies. As of December 31, 2022, 1.6% of net assets at fair value, or $19.2 million, was invested in cash and cash equivalents (including $1.9 million of restricted cash). In comparison, as of September 30, 2022, 200.2% of net assets at fair value, or $2.5 billion, was invested in 149 portfolio investments, including (i) $117.0 million in subordinated notes and LLC equity interests of SLF JV I and (ii) $50.3 million in subordinated notes and LLC equity interests of Glick JV. As of September 30, 2022, 2.1% of net assets at fair value, or $26.4 million, was invested in cash and cash equivalents (including $2.8 million of restricted cash). As of December 31, 2022, 86.3% of the Company's portfolio at fair value consisted of senior secured debt investments and 8.5% consisted of subordinated debt investments, including the debt investments in the JVs. As of September 30, 2022, 86.9% of the Company's portfolio at fair value consisted of senior secured debt investments and 8.1% consisted of subordinated debt investments, including the debt investments in the JVs.

The Company also held equity investments in certain of its portfolio companies consisting of common stock, preferred stock, warrants, limited partnership interests or LLC equity interests. These instruments generally do not produce a current return but are held for potential investment appreciation and capital gain.

During the three months ended December 31, 2022 and 2021, the Company recorded net realized gains (losses) of $(3.2) million and $9.3 million, respectively. During the three months ended December 31, 2022 and 2021, the Company recorded net unrealized depreciation of $23.0 million and $4.6 million, respectively.

The composition of the Company's investments as of December 31, 2022 and September 30, 2022 at cost and fair value was as follows:


	December 31, 2022				September 30, 2022
	Cost		Fair Value		Cost		Fair Value
Investments in debt securities	$	2,428,251	$	2,343,380	$	2,294,392	$	2,223,329
Investments in equity securities	132,355		113,190		127,596		103,534
Debt investments in the JVs	162,617		162,192		146,444		146,533
Equity investments in the JVs	54,791		24,108		49,322		20,715
Total	$	2,778,014	$	2,642,870	$	2,617,754	$	2,494,111

The following table presents the composition of the Company's debt investments as of December 31, 2022 and September 30, 2022 at fixed rates and floating rates:


	December 31, 2022				September 30, 2022
	Fair Value		% of Debt Portfolio		Fair Value		% of Debt Portfolio
Floating rate debt securities, including the debt investments in the JVs	$	2,188,193	87.33	%	$	2,049,644	86.49	%
Fixed rate debt securities	317,379		12.67		320,218		13.51
Total	$	2,505,572	100.00	%	$	2,369,862	100.00	%

The following table presents the financial instruments carried at fair value as of December 31, 2022 on the Company's Consolidated Statement of Assets and Liabilities for each of the three levels of hierarchy established by ASC 820:


	Level 1		Level 2		Level 3		Measured at Net Asset Value (a)		Total
Investments in debt securities (senior secured)	$	—	$	233,393	$	2,047,842	$	—	$	2,281,235
Investments in debt securities (subordinated, including the debt investments in the JVs)	—		44,706		179,631		—		224,337
Investments in equity securities (preferred)	—		—		80,625		—		80,625
Investments in equity securities (common and warrants, including LLC equity interests of the JVs)	5,923		—		26,642		24,108		56,673
Total investments at fair value	5,923		278,099		2,334,740		24,108		2,642,870
Cash equivalents	3,421		—		—		—		3,421
Total assets at fair value	$	9,344	$	278,099	$	2,334,740	$	24,108	$	2,646,291
Derivative liability	$	—	$	44,139	$	—	$	—	$	44,139
Total liabilities at fair value	$	—	$	44,139	$	—	$	—	$	44,139

__________

(a)In accordance with ASC 820-10, certain investments that are measured using the net asset value per share (or its equivalent) as a practical expedient for fair value have not been classified in the fair value hierarchy. These investments are generally not redeemable. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Assets and Liabilities.

The following table presents the financial instruments carried at fair value as of September 30, 2022 on the Company's Consolidated Statement of Assets and Liabilities for each of the three levels of hierarchy established by ASC 820:


	Level 1		Level 2		Level 3		Measured at Net Asset Value (a)		Total
Investments in debt securities (senior secured)	$	—	$	255,803	$	1,910,606	$	—	$	2,166,409
Investments in debt securities (subordinated, including the debt investments in the JVs)	—		44,065		159,388		—		203,453
Investments in equity securities (preferred)	—		—		79,523		—		79,523
Investments in equity securities (common and warrants, including LLC equity interests of the JVs)	4,053		—		19,958		20,715		44,726
Total investments at fair value	4,053		299,868		2,169,475		20,715		2,494,111
Cash equivalents	5,261		—		—		—		5,261
Derivative assets	—		6,789		—		—		6,789
Total assets at fair value	$	9,314	$	306,657	$	2,169,475	$	20,715	$	2,506,161
Derivative liability	$	—	$	41,969	$	—	$	—	$	41,969
Total liabilities at fair value	$	—	$	41,969	$	—	$	—	$	41,969

__________

When a determination is made to classify a financial instrument within Level 3 of the valuation hierarchy, the determination is based upon the fact that the unobservable factors are significant to the overall fair value measurement. However, Level 3 financial instruments typically have both unobservable or Level 3 components and observable components (i.e. components that are actively quoted and can be validated by external sources). Accordingly, the appreciation (depreciation) in the tables below includes changes in fair value due in part to observable factors that are part of the valuation methodology. Transfers between levels are recognized at the beginning of the reporting period.

The following table provides a roll-forward in the changes in fair value from September 30, 2022 to December 31, 2022 for all investments for which the Company determined fair value using unobservable (Level 3) factors:


	Investments
	Senior Secured Debt		Subordinated Debt (including debt investments in the JVs)		Preferred Equity		Common Equity and Warrants		Total
Fair value as of September 30, 2022	$	1,910,606	$	159,388	$	79,523	$	19,958	$	2,169,475
Purchases	177,599		21,104		2,579		2,181		203,463
Sales and repayments	(55,885)		(699)		—		(48)		(56,632)
Transfers in (a)	19,075		—		—		—		19,075
Capitalized PIK interest income	5,763		6		—		—		5,769
Accretion of OID	4,114		398		—		—		4,512
Net unrealized appreciation (depreciation)	(12,271)		(566)		(1,477)		4,505		(9,809)
Net realized gains (losses)	(1,159)		—		—		46		(1,113)
Fair value as of December 31, 2022	$	2,047,842	$	179,631	$	80,625	$	26,642	$	2,334,740
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2022	$	(12,398)	$	(566)	$	(1,477)	$	4,505	$	(9,936)

__________

(a) There was a transfer into Level 3 from Level 2 for an investment during the three months ended December 31, 2022 as a result of a change in the number of market quotes available and/or a change in market liquidity.

The following table provides a roll-forward in the changes in fair value from September 30, 2021 to December 31, 2021 for all investments for which the Company determined fair value using unobservable (Level 3) factors:


	Investments
	Senior Secured Debt		Subordinated Debt (including debt investments in the JVs)		Preferred Equity		Common Equity and Warrants		Total
Fair value as of September 30, 2021	$	1,878,536	$	176,317	$	63,565	$	43,163	$	2,161,581
Purchases	191,087		3,589		979		1,441		197,096
Sales and repayments	(131,946)		(20,185)		—		(6,503)		(158,634)
Transfers in (a)	3,178		—		—		—		3,178
Transfers out (a)	(17,070)		—		—		—		(17,070)
Capitalized PIK interest income	6,172		313		—		—		6,485
Accretion of OID	5,378		819		—		—		6,197
Net unrealized appreciation (depreciation)	(9,877)		516		1,006		6,636		(1,719)
Net realized gains (losses)	8,638		—		—		(2,795)		5,843
Fair value as of December 31, 2021	$	1,934,096	$	161,369	$	65,550	$	41,942	$	2,202,957
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2021 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2021	$	(717)	$	368	$	1,006	$	1,139	$	1,796

__________

(a) There were transfers into/out of Level 3 from/to Level 2 for certain investments during the three months ended December 31, 2021 as a result of a change in the number of market quotes available and/or a change in market liquidity.

Significant Unobservable Inputs for Level 3 Investments

The following table provides quantitative information related to the significant unobservable inputs for Level 3 investments, which are carried at fair value, as of December 31, 2022:

Asset

Fair Value

Valuation Technique

Unobservable Input

Range

Weighted
Average (a)

Senior Secured Debt

1,692,264

Market Yield

(b)

9.0%

33.0%

14.0%

14,297

Enterprise Value

EBITDA Multiple

(c)

5.0x

7.0x

6.0x

38,581

Transaction Precedent

Transaction Price

(d)

N/A

302,700

Broker Quotations

Broker Quoted Price

(e)

N/A

Subordinated Debt

13,706

Market Yield

(b)

10.0%

20.0%

11.4%

3,733

Broker Quotations

Broker Quoted Price

(e)

N/A

Debt Investments in the JVs

162,192

Enterprise Value

N/A

(f)

N/A

Preferred & Common Equity

30,226

Enterprise Value

Revenue Multiple

(c)

0.1x

4.3x

0.5x

73,822

Enterprise Value

EBITDA Multiple

(c)

3.0x

20.0x

14.6x

1,600

Enterprise Value

Asset Multiple

(c)

0.9x

1.1x

1.0x

1,619

Transaction Precedent

Transaction Price

(d)

N/A

Total

2,334,740

__________

(a)Weighted averages are calculated based on fair value of investments.

(b)Used when market participants would take into account market yield when pricing the investment.

(c)Used when market participants would use such multiples when pricing the investment.

(d)Used when there is an observable transaction or pending event for the investment.

(e)Oaktree generally uses prices provided by an independent pricing service which are non-binding indicative prices on or near the valuation date as the primary basis for the fair value determinations for quoted senior secured debt investments. Since these prices are non-binding, they may not be indicative of fair value. Oaktree evaluates the quotations provided by pricing vendors and brokers based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated.

(f)Oaktree determined the value of its subordinated notes of each JV based on the total assets less the total liabilities senior to the subordinated notes held at such JV in an amount not exceeding par under the EV technique.

The following table provides quantitative information related to the significant unobservable inputs for Level 3 investments, which are carried at fair value, as of September 30, 2022:

Asset

Fair Value

Valuation Technique

Unobservable Input

Range

Weighted
Average (a)

Senior Secured Debt

1,599,148

Market Yield

(b)

9.0%

30.0%

13.7%

14,333

Enterprise Value

EBITDA Multiple

(c)

5.0x

7.0x

6.0x

297,125

Broker Quotations

Broker Quoted Price

(e)

N/A

Subordinated Debt

12,855

Market Yield

(b)

10.0%

19.0%

13.8%

Debt Investments in the JVs

146,533

Enterprise Value

N/A

(f)

N/A

Preferred & Common Equity

61,693

Enterprise Value

Revenue Multiple

(c)

0.4x

10.1x

4.3x

36,913

Enterprise Value

EBITDA Multiple

(c)

3.0x

20.0x

11.4x

Enterprise Value

Asset Multiple

(c)

0.9x

1.1x

1.0x

872

Transaction Precedent

Transaction Price

(d)

N/A

Total

2,169,475

__________

(a)Weighted averages are calculated based on fair value of investments.

(b)Used when market participants would take into account market yield when pricing the investment.

(c)Used when market participants would use such multiples when pricing the investment.

(d)Used when there is an observable transaction or pending event for the investment.

Under the market yield technique, the significant unobservable input used in the fair value measurement of the Company's investments in debt securities is the market yield. Increases or decreases in the market yield may result in a lower or higher fair value measurement, respectively.

Under the EV technique, the significant unobservable input used in the fair value measurement of the Company's investments in debt or equity securities is the earnings before interest, taxes, depreciation and amortization ("EBITDA"), revenue or asset multiple, as applicable. Increases or decreases in the valuation multiples in isolation may result in a higher or lower fair value measurement, respectively.

Financial Instruments Disclosed, But Not Carried, At Fair Value

The following table presents the carrying value and fair value of the Company's financial liabilities disclosed, but not carried, at fair value as of December 31, 2022 and the level of each financial liability within the fair value hierarchy:


	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Syndicated Facility payable	$	695,000	$	695,000	$	—	$	—	$	695,000
Citibank Facility payable	165,000		165,000		—		—		165,000
2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount)	297,303		286,734		—		286,734		—
2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment)	306,321		296,835		—		296,835		—
Total	$	1,463,624	$	1,443,569	$	—	$	583,569	$	860,000

The following table presents the carrying value and fair value of the Company's financial liabilities disclosed, but not carried, at fair value as of September 30, 2022 and the level of each financial liability within the fair value hierarchy:


	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Syndicated Facility payable	$	540,000	$	540,000	$	—	$	—	$	540,000
Citibank Facility payable	160,000		160,000		—		—		160,000
2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount)	296,991		283,077		—		283,077		—
2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment)	304,052		294,028		—		294,028		—
Total	$	1,301,043	$	1,277,105	$	—	$	577,105	$	700,000

The principal values of the credit facilities payable approximate fair value due to their variable interest rates and are included in Level 3 of the hierarchy. Oaktree used market quotes as of the valuation date to estimate the fair value of the Company's 3.500% notes due 2025 (the "2025 Notes") and 2.700% notes due 2027 (the "2027 Notes"), which are included in Level 2 of the hierarchy.

Portfolio Composition

Summaries of the composition of the Company's portfolio at cost as a percentage of total investments and at fair value as a percentage of total investments and net assets are shown in the following tables:


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Senior secured debt	$	2,359,295	84.94	%	$	2,227,245	85.08	%
Debt investments in the JVs	162,617		5.85	%	146,444		5.59	%
Preferred equity	87,878		3.16	%	85,300		3.26	%
Subordinated debt	68,956		2.48	%	67,147		2.57	%
LLC equity interests of the JVs	54,791		1.97	%	49,322		1.88	%
Common equity and warrants	44,477		1.60	%	42,296		1.62	%
Total	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Senior secured debt	$	2,281,235	86.32	%	189.78	%	$	2,166,409	86.86	%	173.93	%
Debt investments in the JVs	162,192		6.14	%	13.49	%	146,533		5.88	%	11.77	%
Preferred equity	80,625		3.05	%	6.71	%	79,523		3.19	%	6.38	%
Subordinated debt	62,145		2.35	%	5.17	%	56,920		2.28	%	4.57	%
Common equity and warrants	32,565		1.23	%	2.71	%	24,011		0.96	%	1.93	%
LLC equity interests of the JVs	24,108		0.91	%	2.01	%	20,715		0.83	%	1.66	%
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%

The geographic composition is determined by the location of the corporate headquarters of the portfolio company, which may not be indicative of the primary source of the portfolio company's business. The following tables show the composition of the Company's portfolio by geographic region at cost as a percentage of total investments and at fair value as a percentage of total investments and net assets:


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Northeast	$	772,197	27.78	%	$	747,420	28.55	%
Midwest	403,393		14.52	%	373,236		14.26	%
Southeast	397,717		14.32	%	356,041		13.60	%
West	351,871		12.67	%	358,306		13.69	%
International	350,510		12.62	%	301,242		11.51	%
Southwest	204,143		7.35	%	221,308		8.45	%
South	164,094		5.91	%	168,819		6.45	%
Northwest	134,089		4.83	%	91,382		3.49	%
Total	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Northeast	$	716,827	27.12	%	59.63	%	$	696,368	27.93	%	55.90	%
Midwest	384,219		14.54	%	31.97	%	356,934		14.31	%	28.66	%
Southeast	380,276		14.39	%	31.64	%	344,567		13.82	%	27.66	%
International	342,447		12.96	%	28.49	%	279,646		11.21	%	22.45	%
West	330,698		12.51	%	27.51	%	345,251		13.84	%	27.72	%
Southwest	195,818		7.41	%	16.29	%	214,984		8.62	%	17.26	%
South	160,150		6.06	%	13.32	%	166,230		6.66	%	13.35	%
Northwest	132,435		5.01	%	11.02	%	90,131		3.61	%	7.24	%
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%

The following tables show the composition of the Company's portfolio by industry at cost as a percentage of total investments and at fair value as a percentage of total investments and net assets as of December 31, 2022 and September 30, 2022:


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Application Software	$	435,165	15.66	%	$	391,938	14.98	%
Multi-Sector Holdings (1)	229,676		8.27		195,766		7.48
Pharmaceuticals	131,307		4.73		126,508		4.83
Data Processing & Outsourced Services	118,058		4.25		120,477		4.60
Biotechnology	111,745		4.02		109,960		4.20
Health Care Technology	110,251		3.97		100,084		3.82
Specialized Finance	87,523		3.15		80,864		3.09
Industrial Machinery	81,483		2.93		81,787		3.12
Health Care Services	65,732		2.37		58,674		2.24
Internet & Direct Marketing Retail	65,585		2.36		67,926		2.59
Aerospace & Defense	61,993		2.23		61,963		2.37
Construction & Engineering	60,828		2.19		60,996		2.33
Health Care Distributors	58,320		2.10		57,112		2.18
Other Diversified Financial Services	57,241		2.06		29,300		1.12
Personal Products	53,190		1.91		53,214		2.03
Automotive Retail	51,663		1.86		59,254		2.26
Auto Parts & Equipment	51,067		1.84		12,474		0.48
Real Estate Operating Companies	49,980		1.80		47,585		1.82
Fertilizers & Agricultural Chemicals	49,271		1.77		49,301		1.88
Internet Services & Infrastructure	49,271		1.77		54,095		2.07
Metal & Glass Containers	47,128		1.70		47,704		1.82
Home Improvement Retail	45,266		1.63		45,802		1.75
Soft Drinks	43,935		1.58		34,272		1.31
Airport Services	43,748		1.57		43,322		1.65
Leisure Facilities	41,182		1.48		39,768		1.52
Insurance Brokers	39,268		1.41		35,628		1.36
Diversified Support Services	38,167		1.37		37,992		1.45
Specialty Chemicals	37,298		1.34		37,319		1.43
Health Care Supplies	36,693		1.32		36,471		1.39
Real Estate Services	36,233		1.30		40,243		1.54
Integrated Telecommunication Services	34,635		1.25		34,628		1.32
Electrical Components & Equipment	33,813		1.22		33,814		1.29
Advertising	27,507		0.99		28,245		1.08
Movies & Entertainment	26,202		0.94		26,161		1.00
Distributors	25,262		0.91		25,278		0.97
Airlines	24,034		0.87		—		—
Health Care Equipment	21,838		0.79		24,353		0.93
Environmental & Facilities Services	21,156		0.76		20,857		0.80
Oil & Gas Storage & Transportation	19,934		0.72		22,290		0.85
Home Furnishings	19,554		0.70		19,550		0.75
Systems Software	14,895		0.54		14,890		0.57
Consumer Finance	14,503		0.52		14,492		0.55
Hotels, Resorts & Cruise Lines	13,943		0.50		13,960		0.53
IT Consulting & Other Services	11,684		0.42		11,697		0.45
Restaurants	9,343		0.34		9,338		0.36
Education Services	9,070		0.33		9,080		0.35
Cable & Satellite	8,012		0.29		20,716		0.79
Research & Consulting Services	7,848		0.28		9,187		0.35
Apparel, Accessories & Luxury Goods	5,165		0.19		5,165		0.20
Air Freight & Logistics	4,925		0.18		7,295		0.28
Integrated Oil & Gas	4,873		0.18		4,866		0.19
Apparel Retail	4,727		0.17		5,268		0.20
Food Distributors	4,655		0.17		4,646		0.18
Specialized REITs	4,334		0.16		4,318		0.16
Real Estate Development	4,278		0.15		—		—
Diversified Banks	3,515		0.13		3,515		0.13
Technology Distributors	3,163		0.11		3,163		0.12
Construction Materials	2,353		0.08		2,331		0.09
Housewares & Specialties	2,217		0.08		2,293		0.09
Electronic Components	2,095		0.08		2,092		0.08
Alternative Carriers	214		0.01		212		0.01
Oil & Gas Refining & Marketing	—		—		8,627		0.33
Trading Companies & Distributors	—		—		7,628		0.29
	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Application Software	$	422,862	15.95	%	35.18	%	$	384,589	15.43	%	30.87	%
Multi-Sector Holdings (1)	198,904		7.53		16.55		167,248		6.71		13.43
Pharmaceuticals	127,414		4.82		10.60		119,511		4.79		9.59
Biotechnology	115,489		4.37		9.61		108,465		4.35		8.71
Data Processing & Outsourced Services	106,224		4.02		8.84		111,335		4.46		8.94
Health Care Technology	103,479		3.92		8.61		97,315		3.90		7.81
Industrial Machinery	79,791		3.02		6.64		81,008		3.25		6.50
Specialized Finance	79,751		3.02		6.63		73,087		2.93		5.87
Internet & Direct Marketing Retail	66,001		2.50		5.49		70,419		2.82		5.65
Aerospace & Defense	61,490		2.33		5.12		61,881		2.48		4.97
Construction & Engineering	60,938		2.31		5.07		61,188		2.45		4.91
Health Care Distributors	54,898		2.08		4.57		54,662		2.19		4.39
Other Diversified Financial Services	54,080		2.05		4.50		24,326		0.98		1.95
Fertilizers & Agricultural Chemicals	52,292		1.98		4.35		51,972		2.08		4.17
Health Care Services	51,260		1.94		4.26		45,943		1.84		3.69
Automotive Retail	50,681		1.92		4.22		57,629		2.31		4.63
Real Estate Operating Companies	50,127		1.90		4.17		48,062		1.93		3.86
Auto Parts & Equipment	50,015		1.89		4.16		11,469		0.46		0.92
Internet Services & Infrastructure	48,973		1.85		4.07		53,797		2.16		4.32
Personal Products	48,903		1.85		4.07		50,150		2.01		4.03
Home Improvement Retail	45,127		1.71		3.75		45,421		1.82		3.65
Metal & Glass Containers	44,763		1.69		3.72		47,599		1.91		3.82
Soft Drinks	44,387		1.68		3.69		33,670		1.35		2.70
Airport Services	43,267		1.64		3.60		42,883		1.72		3.44
Leisure Facilities	40,578		1.54		3.38		39,258		1.57		3.15
Insurance Brokers	39,057		1.48		3.25		33,081		1.33		2.66
Health Care Supplies	37,776		1.43		3.14		36,577		1.47		2.94
Diversified Support Services	35,626		1.35		2.96		36,712		1.47		2.95
Real Estate Services	35,621		1.35		2.96		39,573		1.59		3.18
Electrical Components & Equipment	32,970		1.25		2.74		32,933		1.32		2.64
Integrated Telecommunication Services	32,041		1.21		2.67		32,201		1.29		2.59
Specialty Chemicals	31,476		1.19		2.62		33,969		1.36		2.73
Movies & Entertainment	26,470		1.00		2.20		26,645		1.07		2.14
Advertising	26,022		0.98		2.16		26,948		1.08		2.16
Airlines	25,864		0.98		2.15		—		—		—
Distributors	24,569		0.93		2.04		24,494		0.98		1.97
Health Care Equipment	22,703		0.86		1.89		24,161		0.97		1.94
Environmental & Facilities Services	20,675		0.78		1.72		20,585		0.83		1.65
Oil & Gas Storage & Transportation	18,113		0.69		1.51		20,853		0.84		1.67
Home Furnishings	17,917		0.68		1.49		18,188		0.73		1.46
Hotels, Resorts & Cruise Lines	13,904		0.53		1.16		13,985		0.56		1.12
Systems Software	12,104		0.46		1.01		12,834		0.51		1.03
Consumer Finance	11,439		0.43		0.95		13,284		0.53		1.07
Education Services	8,938		0.34		0.74		8,582		0.34		0.69
Restaurants	8,610		0.33		0.72		8,692		0.35		0.70
Cable & Satellite	7,968		0.30		0.66		19,576		0.78		1.57
Research & Consulting Services	7,165		0.27		0.60		8,573		0.34		0.69
IT Consulting & Other Services	6,963		0.26		0.58		8,596		0.34		0.69
Integrated Oil & Gas	4,847		0.18		0.40		4,872		0.20		0.39
Apparel Retail	4,675		0.18		0.39		5,223		0.21		0.42
Real Estate Development	4,267		0.16		0.35		—		—		—
Air Freight & Logistics	4,191		0.16		0.35		6,405		0.26		0.51
Food Distributors	3,599		0.14		0.30		3,367		0.13		0.27
Diversified Banks	3,315		0.13		0.28		3,402		0.14		0.27
Specialized REITs	3,230		0.12		0.27		3,264		0.13		0.26
Technology Distributors	2,971		0.11		0.25		2,997		0.12		0.24
Housewares & Specialties	2,265		0.09		0.19		2,456		0.10		0.20
Construction Materials	1,928		0.07		0.16		1,934		0.08		0.16
Electronic Components	1,712		0.06		0.14		1,890		0.08		0.15
Alternative Carriers	185		0.01		0.02		201		0.01		0.02
Oil & Gas Refining & Marketing	—		—		—		8,604		0.34		0.69
Trading Companies & Distributors	—		—		—		5,567		0.22		0.45
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%

___________________

(1)This industry includes the Company's investments in the JVs.

As of December 31, 2022 and September 30, 2022, the Company had no single investment that represented greater than 10% of the total investment portfolio at fair value. Income, consisting of interest, dividends, fees, other investment income and realization of gains or losses, may fluctuate and in any given period can be highly concentrated among several investments.

Senior Loan Fund JV I, LLC

In May 2014, the Company entered into an LLC agreement with Kemper to form SLF JV I. The Company co-invests in senior secured loans of middle-market companies and other corporate debt securities with Kemper through its investment in SLF JV I. SLF JV I is managed by a four person Board of Directors, two of whom are selected by the Company and two of whom are selected by Kemper. All portfolio decisions and investment decisions in respect of SLF JV I must be approved by the SLF JV I investment committee, which consists of one representative selected by the Company and one representative selected by Kemper (with approval from a representative of each required). Since the Company does not have a controlling financial interest in SLF JV I, the Company does not consolidate SLF JV I.

SLF JV I is capitalized pro rata with LLC equity interests as transactions are completed and may be capitalized with additional subordinated notes issued to the Company and Kemper by SLF JV I. The subordinated notes issued by SLF JV I (the "SLF JV I Notes") are senior in right of payment to SLF JV I LLC equity interests and subordinated in right of payment to SLF JV I’s secured debt. As of December 31, 2022 and September 30, 2022, the Company and Kemper owned, in the aggregate, 87.5% and 12.5%, respectively, of the LLC equity interests of SLF JV I and the outstanding SLF JV I Notes. SLF JV I is not an "eligible portfolio company" as defined in section 2(a)(46) of the Investment Company Act.

SLF JV I has a senior revolving credit facility with Deutsche Bank AG, New York Branch (as amended, the "SLF JV I Deutsche Bank Facility"), which permitted up to $260.0 million of borrowings (subject to borrowing base and other limitations) as of each of December 31, 2022 and September 30, 2022. Borrowings under the SLF JV I Deutsche Bank Facility are secured by all of the assets of SLF JV I Funding LLC, a special purpose financing subsidiary of SLF JV I. As of December 31, 2022, the reinvestment period of the SLF JV I Deutsche Bank Facility was scheduled to expire May 3, 2023 and the maturity date was May 3, 2028. As of December 31, 2022, borrowings under the SLF JV I Deutsche Bank Facility accrued interest at a rate equal to 3-month LIBOR plus 2.00% per annum during the reinvestment period, 3-month LIBOR plus 2.15% per annum for the first year after the reinvestment period, 3-month LIBOR plus 2.25% for the following year and 3-month LIBOR plus 2.50% thereafter, in each case with a 0.125% LIBOR floor. $226.0 million and $230.0 million of borrowings were outstanding under the SLF JV I Deutsche Bank Facility as of December 31, 2022 and September 30, 2022, respectively.

As of December 31, 2022 and September 30, 2022, SLF JV I had total assets of $409.4 million and $385.2 million, respectively. SLF JV I's portfolio primarily consisted of senior secured loans to 59 and 60 portfolio companies as of December 31, 2022 and September 30, 2022, respectively. The portfolio companies in SLF JV I are in industries similar to those in which the Company may invest directly. As of December 31, 2022, the Company's investment in SLF JV I consisted of LLC equity interests and SLF JV I Notes of $136.8 million in aggregate, at fair value. As of September 30, 2022, the Company's investment in SLF JV I consisted of LLC equity interests and SLF JV I Notes of $117.0 million in aggregate, at fair value.

As of December 31, 2022, the Company and Kemper had funded approximately $190.5 million to SLF JV I, of which $166.7 million was from the Company. As of September 30, 2022, the Company and Kemper had funded approximately $165.5 million to SLF JV I, of which $144.8 million was from the Company. As of December 31, 2022, the Company had aggregate commitments to fund SLF JV I of $13.1 million, of which approximately $9.8 million was to fund additional SLF JV I Notes and approximately $3.3 million was to fund LLC equity interests in SLF JV I. During the three months ended December 31, 2022, the Company contributed $16.4 million to fund additional SLF JV I Notes and approximately $5.5 million to fund additional LLC equity interests in SLF JV I. As of September 30, 2022, the Company had aggregate commitments to fund SLF JV I of $35.0 million, of which approximately $26.2 million was to fund additional SLF JV I Notes and approximately $8.8 million was to fund LLC equity interests in SLF JV I.

Below is a summary of SLF JV I's portfolio, followed by a listing of the individual loans in SLF JV I's portfolio as of December 31, 2022 and September 30, 2022:


	December 31, 2022	September 30, 2022
Senior secured loans (1)	$382,148	$383,194
Weighted average interest rate on senior secured loans (2)	9.55%	8.33%
Number of borrowers in SLF JV I	59	60
Largest exposure to a single borrower (1)	$11,337	$10,093
Total of five largest loan exposures to borrowers (1)	$51,990	$48,139

__________

(1) At principal amount.

(2) Computed using the weighted average annual interest rate on accruing senior secured loans at fair value.

SLF JV I Portfolio as of December 31, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Access CIG, LLC	First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025	7.82	%	Diversified Support Services	$	10,067	$	10,008	$	9,883
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	11.34	%	Construction & Engineering	8,413		8,296		8,267		(4)
Altice France S.A.	First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026	8.65	%	Integrated Telecommunication Services	2,992		2,844		2,791
Alvogen Pharma US, Inc.	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	12.23	%	Pharmaceuticals	9,150		9,060		9,104		(4)
American Rock Salt Company LLC	First Lien Term Loan, LIBOR+4.00% cash due 6/9/2028	8.38	%	Diversified Metals & Mining	1,995		1,836		1,883
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	10.61	%	Distributors	4,860		4,800		4,471		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	8.98	%	Movies & Entertainment	7,780		7,702		7,501		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	8.48	%	Personal Products	1,535		1,200		1,149		(4)
Apptio, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 1/10/2025	9.94	%	Application Software	4,615		4,584		4,523		(4)
Apptio, Inc.	First Lien Revolver, LIBOR+6.00% cash due 1/10/2025	9.94	%	Application Software	231		228		223		(4)(5)
Total Apptio, Inc.					4,846		4,812		4,746
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	10.38	%	Paper Packaging	4,166		4,097		4,012
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027			Paper Packaging	—		(8)		(18)		(5)
Total ASP-R-PAC Acquisition Co LLC					4,166		4,089		3,994
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	9.63	%	Application Software	5,052		4,866		4,484		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	8.68	%	Property & Casualty Insurance	4,988		4,752		4,463
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	9.63	%	Property & Casualty Insurance	4,346		3,995		3,404
Total Asurion, LLC					9,334		8,747		7,867
athenahealth Group Inc.	First Lien Term Loan, SOFR+3.50% cash due 2/15/2029	7.82	%	Health Care Technology	2,558		2,353		2,316
athenahealth Group Inc.	First Lien Delayed Draw Term Loan, SOFR+3.50% cash due 2/15/2029	7.82	%	Health Care Technology	109		74		68		(5)
Total athenahealth Group Inc.					2,667		2,427		2,384
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	10.32	%	Airport Services	6,321		6,232		6,012		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	9.07	%	Health Care Services	6,354		6,295		6,176
BAART Programs, Inc.	First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027	9.73	%	Health Care Services	1,767		1,747		1,682		(4)(5)
Total BAART Programs, Inc.					8,121		8,042		7,858
Blackhawk Network Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025	7.08	%	Data Processing & Outsourced Services	9,550		9,542		9,331
Boxer Parent Company Inc.	First Lien Term Loan, LIBOR+3.75% cash due 10/2/2025	8.13	%	Systems Software	1,994		1,917		1,914
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	10.70	%	Application Software	7,425		7,335		5,988
C5 Technology Holdings, LLC	171 Common Units			Data Processing & Outsourced Services			—		—		(4)
C5 Technology Holdings, LLC	7,193,539.63 Preferred Units			Data Processing & Outsourced Services			7,194		5,683		(4)
Total C5 Technology Holdings, LLC							7,194		5,683
Cengage Learning, Inc.	First Lien Term Loan, LIBOR+4.75% cash due 7/14/2026	7.81	%	Education Services	2,992		2,734		2,698


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Centerline Communications, LLC	First Lien Term Loan, SOFR+5.50% cash due 8/10/2023	10.43	%	Wireless Telecommunication Services	$	6,345	$	6,242	$	6,231
Centerline Communications, LLC	First Lien Revolver, SOFR+5.50% cash due 8/10/2027			Wireless Telecommunication Services	—		(10)		(10)		(5)
Total Centerline Communications, LLC					6,345		6,232		6,221
Convergeone Holdings, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026	9.38	%	IT Consulting & Other Services	7,354		7,200		4,309		(4)
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	9.58	%	Health Care Distributors	5,375		5,053		5,050		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	8.73	%	Biotechnology	7,800		7,726		7,644
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.25% cash due 12/2/2027	8.98	%	Biotechnology	997		978		975
Total Curium Bidco S.à.r.l.					8,797		8,704		8,619
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	9.38	%	Cable & Satellite	6,277		6,178		6,124		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	9.79	%	Paper Products	4,090		4,055		3,926
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	8.84	%	Research & Consulting Services	7,980		7,835		7,372		(4)
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	8.88	%	Application Software	7,811		7,681		6,915
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	9.13	%	Leisure Products	7,425		7,351		5,495
Global Medical Response, Inc.	First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025	8.42	%	Health Care Services	1,260		1,246		891
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	9.67	%	Education Services	7,980		7,764		7,613		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, SOFR+5.25% cash due 6/30/2026	10.09	%	Pharmaceuticals	7,388		7,282		7,277
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	10.48	%	Personal Products	9,375		9,172		8,016		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	8.94	%	Metal & Glass Containers	4,988		4,630		4,548
LABL, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 10/29/2028	9.38	%	Office Services & Supplies	2,992		2,858		2,848
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	9.76	%	Health Care Services	7,425		7,306		7,295
Lightbox Intermediate, L.P.	First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026	9.73	%	Real Estate Services	11,337		11,152		10,941		(4)
LogMeIn, Inc.	First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027	9.14	%	Application Software	7,840		7,736		5,080
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025	7.88	%	Electronic Components	7,347		7,270		7,050
McAfee Corp.	First Lien Term Loan, SOFR+3.75% cash due 3/1/2029	7.97	%	Systems Software	1,995		1,876		1,862
Mindbody, Inc.	First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025	11.72	%	Internet Services & Infrastructure	4,668		4,636		4,566		(4)
Mindbody, Inc.	First Lien Revolver, LIBOR+8.00% cash due 2/14/2025			Internet Services & Infrastructure	—		(3)		(10)		(4)(5)
Total Mindbody, Inc.					4,668		4,633		4,556
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	10.23	%	Application Software	10,611		10,416		10,227		(4)
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026			Application Software	—		(3)		(12)		(4)(5)
Total MRI Software LLC					10,611		10,413		10,215
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025	9.23	%	Electrical Components & Equipment	6,668		6,657		6,467
OEConnection LLC	First Lien Term Loan, SOFR+4.00% cash due 9/25/2026	8.42	%	Application Software	7,757		7,721		7,411		(4)


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Park Place Technologies, LLC	First Lien Term Loan, SOFR+5.00% cash due 11/10/2027	9.42	%	Internet Services & Infrastructure	$	9,900	$	9,504	$	9,362	(4)
Planview Parent, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 12/17/2027	8.73	%	Application Software	2,435		2,294		2,274
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	11.98	%	Application Software	4,503		4,435		4,041		(4)
Total Planview Parent, Inc.					6,938		6,729		6,315
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	11.83	%	Application Software	6,796		6,698		6,626		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027			Application Software	212		206		201		(4)(5)
Total Pluralsight, LLC					7,008		6,904		6,827
RevSpring, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 10/11/2025	8.73	%	Commercial Printing	9,600		9,583		9,288
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	9.66	%	Footwear	8,179		8,173		6,339
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	9.64	%	Footwear	138		138		120
Total SHO Holding I Corporation					8,317		8,311		6,459
Sorenson Communications, LLC	First Lien Term Loan, LIBOR+5.50% cash due 3/17/2026	10.23	%	Communications Equipment	2,478		2,454		2,374
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	9.64	%	Apparel Retail	8,910		8,760		8,699		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	8.92	%	Industrial Machinery	10,075		9,610		9,436		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	8.48	%	Application Software	7,723		7,482		6,688		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	8.05	%	Health Care Facilities	3,044		3,034		3,014
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	9.18	%	Application Software	6,256		5,712		5,602		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	10.38	%	Health Care Supplies	7,267		7,142		7,104		(4)
Veritas US Inc.	First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025	9.73	%	Application Software	6,354		6,286		4,515
Windstream Services II, LLC	First Lien Term Loan, SOFR+6.25% cash due 9/21/2027	10.67	%	Integrated Telecommunication Services	7,798		7,587		7,092		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	12.17	%	Aerospace & Defense	6,000		5,974		5,055		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	8.17	%	Aerospace & Defense	1,980		1,913		1,732		(4)
Total WP CPP Holdings, LLC					7,980		7,887		6,787
Zayo Group Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 3/9/2027	7.38	%	Alternative Carriers	2,155		2,009		1,756
Total Portfolio Investments					$	382,148	$	380,682	$	355,427

_________

(1) Represents the interest rate as of December 31, 2022. All interest rates are payable in cash, unless otherwise noted.

(2) The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rates based on each respective credit agreement and the cash interest rate as of period end. All the LIBOR shown above is in U.S. dollars. As of December 31, 2022, the reference rates for SLF JV I's variable rate loans were the 30-day LIBOR at 4.38%, the 90-day LIBOR at 4.73%, the 30-day SOFR at 4.32%, the 90-day SOFR at 4.58% and the 180-day SOFR at 4.79%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

(3) Represents the current determination of fair value as of December 31, 2022 utilizing a similar technique as the Company in accordance with ASC 820. However, the determination of such fair value is not included in the valuation process described elsewhere herein.

(4) This investment was held by both the Company and SLF JV I as of December 31, 2022.

(5) Investment had undrawn commitments. Unamortized fees are classified as unearned income which reduces cost basis, which may result in a negative cost basis. A negative fair value may result from the unfunded commitment being valued below par.

SLF JV I Portfolio as of September 30, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Access CIG, LLC	First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025	6.82	%	Diversified Support Services	$	10,093	$	10,028	$	9,692
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	9.80	%	Construction & Engineering	8,518		8,389		8,371		(4)
Altice France S.A.	First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026	6.91	%	Integrated Telecommunication Services	3,000		2,841		2,730
Alvogen Pharma US, Inc.	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	11.20	%	Pharmaceuticals	9,267		9,166		9,221		(4)
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	9.03	%	Distributors	4,873		4,812		4,576		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	7.92	%	Movies & Entertainment	7,800		7,722		7,527		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	7.42	%	Personal Products	1,539		1,203		1,232		(4)
Apptio, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 1/10/2025	8.46	%	Application Software	4,615		4,580		4,519		(4)
Apptio, Inc.	First Lien Revolver, LIBOR+6.00% cash due 1/10/2025	8.46	%	Application Software	154		151		146		(4)(5)
Total Apptio, Inc.					4,769		4,731		4,665
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	9.67	%	Paper Packaging	4,176		4,103		4,080
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027			Paper Packaging	—		(9)		(11)		(5)
Total ASP-R-PAC Acquisition Co LLC					4,176		4,094		4,069
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	8.37	%	Application Software	5,052		4,858		4,319		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	7.70	%	Property & Casualty Insurance	5,000		4,753		4,276
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	8.37	%	Property & Casualty Insurance	4,346		3,981		3,347
Total Asurion, LLC					9,346		8,734		7,623
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	8.78	%	Airport Services	6,338		6,242		6,027		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12	%	Health Care Services	6,371		6,311		6,148
BAART Programs, Inc.	First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12	%	Health Care Services	1,771		1,751		1,664		(4)(5)
Total BAART Programs, Inc.					8,142		8,062		7,812
Blackhawk Network Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025	6.03	%	Data Processing & Outsourced Services	9,575		9,566		8,977
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	8.98	%	Application Software	7,444		7,347		5,455
C5 Technology Holdings, LLC	171 Common Units			Data Processing & Outsourced Services			—		—		(4)
C5 Technology Holdings, LLC	7,193,539.63 Preferred Units			Data Processing & Outsourced Services			7,194		5,683		(4)
Total C5 Technology Holdings, LLC							7,194		5,683
Centerline Communications, LLC	First Lien Term Loan, SOFR+5.50% cash due 8/10/2027	9.12	%	Wireless Telecommunication Services	4,358		4,286		4,280
Centerline Communications, LLC	First Lien Delayed Draw Term Loan, SOFR+5.50% cash due 8/10/2027	9.12	%	Wireless Telecommunication Services	449		432		413		(5)
Centerline Communications, LLC	First Lien Revolver, SOFR+5.50% cash due 8/10/2027			Wireless Telecommunication Services	—		(10)		(11)		(5)
Total Centerline Communications, LLC					4,807		4,708		4,682


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
CITGO Petroleum Corp.	First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024	9.37	%	Oil & Gas Refining & Marketing	$	7,038	$	6,967	$	7,057	(4)
City Football Group Limited	First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028	6.48	%	Movies & Entertainment	6,451		6,419		6,166
Convergeone Holdings, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026	8.12	%	IT Consulting & Other Services	7,373		7,206		5,320		(4)
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	7.65	%	Health Care Distributors	5,375		5,053		5,035		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	7.67	%	Biotechnology	5,820		5,776		5,587
Dealer Tire, LLC	First Lien Term Loan, LIBOR+4.25% cash due 12/12/2025	7.37	%	Distributors	2,992		2,935		2,924
Delivery Hero FinCo LLC	First Lien Term Loan, SOFR+5.75% cash due 8/12/2027	8.49	%	Internet & Direct Marketing Retail	6,035		5,876		5,756		(4)
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	8.12	%	Cable & Satellite	6,436		6,332		6,012		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	8.26	%	Paper Products	4,100		4,065		3,921
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	7.33	%	Research & Consulting Services	8,000		7,849		7,616		(4)
Eagle Parent Corp.	First Lien Term Loan, SOFR+4.25% cash due 4/1/2029	7.80	%	Industrial Machinery	4,478		4,373		4,367
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	7.62	%	Application Software	7,331		7,258		6,859
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	7.94	%	Leisure Products	7,444		7,369		6,029
Global Medical Response, Inc.	First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025	7.37	%	Health Care Services	1,979		1,979		1,722		(4)
Global Medical Response, Inc.	First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025	6.81	%	Health Care Services	2,192		2,165		1,912
Total Global Medical Response, Inc.					4,171		4,144		3,634
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	8.38	%	Education Services	8,000		7,774		7,310		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, SOFR+5.25% cash due 6/30/2026	8.80	%	Pharmaceuticals	7,406		7,293		7,286
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	9.42	%	Personal Products	9,500		9,282		8,408		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	7.89	%	Metal & Glass Containers	5,000		4,624		4,610
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	8.23	%	Health Care Services	7,444		7,318		7,323
Lightbox Intermediate, L.P.	First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026	8.67	%	Real Estate Services	7,367		7,315		7,109		(4)
LogMeIn, Inc.	First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027	7.80	%	Application Software	7,860		7,751		5,494
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.25% cash due 9/6/2025	6.37	%	Electronic Components	7,366		7,282		6,835
Mindbody, Inc.	First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025	10.64	%	Internet Services & Infrastructure	4,687		4,651		4,570		(4)
Mindbody, Inc.	First Lien Revolver, LIBOR+8.00% cash due 2/14/2025			Internet Services & Infrastructure	—		(4)		(12)		(4)(5)
Total Mindbody, Inc.					4,687		4,647		4,558
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	9.17	%	Application Software	6,139		6,104		5,966		(4)
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026			Application Software	—		(3)		(10)		(4)(5)
Total MRI Software LLC					6,139		6,101		5,956
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025	7.87	%	Electrical Components & Equipment	6,685		6,673		6,484
OEConnection LLC	First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026	7.12	%	Application Software	7,777		7,741		7,505		(4)
Park Place Technologies, LLC	First Lien Term Loan, SOFR+5.00% cash due 11/10/2027	8.13	%	Internet Services & Infrastructure	4,925		4,781		4,687		(4)
Peloton Interactive, Inc.	First Lien Term Loan, SOFR+6.50% cash due 5/25/2027	8.35	%	Leisure Products	5,486		5,251		5,371


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	10.92	%	Application Software	$	4,503	$	4,435	$	4,323	(4)
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	10.68	%	Application Software	6,796		6,694		6,582		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027			Application Software	—		(6)		(13)		(4)(5)
Total Pluralsight, LLC					6,796		6,688		6,569
RevSpring, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 10/11/2025	7.67	%	Commercial Printing	9,625		9,607		9,304
Sabert Corporation	First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026	7.63	%	Metal & Glass Containers	2,536		2,511		2,435		(4)
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	8.06	%	Footwear	8,201		8,194		7,176
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	8.04	%	Footwear	138		138		121
Total SHO Holding I Corporation					8,339		8,332		7,297
Sorenson Communications, LLC	First Lien Term Loan, LIBOR+5.50% cash due 3/17/2026	9.17	%	Communications Equipment	2,553		2,528		2,454
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	8.30	%	Apparel Retail	8,933		8,776		8,721		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	7.63	%	Industrial Machinery	7,500		7,184		6,966		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	7.42	%	Application Software	7,743		7,479		6,827		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	6.51	%	Health Care Facilities	3,377		3,365		3,213
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	8.15	%	Application Software	6,256		5,693		5,629		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	9.12	%	Health Care Supplies	7,285		7,155		7,140		(4)
Veritas US Inc.	First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025	8.67	%	Application Software	6,365		6,290		5,087
Windstream Services II, LLC	First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027	9.37	%	Integrated Telecommunication Services	7,818		7,596		7,115		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	10.56	%	Aerospace & Defense	6,000		5,972		5,070		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	6.56	%	Aerospace & Defense	1,985		1,910		1,783		(4)
Total WP CPP Holdings, LLC					7,985		7,882		6,853
Zayo Group Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 3/9/2027	6.12	%	Alternative Carriers	2,155		2,000		1,812
Total Portfolio Investments					$	383,194	$	382,673	$	359,625

_________

(1) Represents the interest rate as of September 30, 2022. All interest rates are payable in cash, unless otherwise noted.

(2) The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rates based on each respective credit agreement and the cash interest rate as of period end. All the LIBOR shown above is in U.S. dollars. As of September 30, 2022, the reference rates for SLF JV I's variable rate loans were the 30-day LIBOR at 3.12%, the 90-day LIBOR at 3.67%, the 30-day SOFR at 3.03%, the 90-day SOFR at 3.55% and the 180-day SOFR at 3.98%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

(3) Represents the current determination of fair value as of September 30, 2022 utilizing a similar technique as the Company in accordance with ASC 820. However, the determination of such fair value is not included in the valuation process described elsewhere herein.

(4) This investment was held by both the Company and SLF JV I as of September 30, 2022.

Both the cost and fair value of the Company's SLF JV I Notes were $112.7 million as of December 31, 2022. Both the cost and fair value of the Company's SLF JV I Notes were $96.3 million as of September 30, 2022. The Company earned interest income of $2.6 million and $2.0 million on the SLF JV I Notes for the three months ended December 31, 2022 and 2021, respectively. As of December 31, 2022, the SLF JV I Notes bore interest at a rate of one-month LIBOR plus 7.00% per annum with a LIBOR floor of 1.00% and will mature on December 29, 2028.

The cost and fair value of the LLC equity interests in SLF JV I held by the Company were $54.8 million and $24.1 million, respectively, as of December 31, 2022, and $49.3 million and $20.7 million, respectively, as of September 30, 2022. The Company earned $1.1 million and $0.5 million in dividend income for the three months ended December 31, 2022 and December 31, 2021, respectively, with respect to its investment in the LLC equity interests of SLF JV I. The LLC equity interests of SLF JV I are generally dividend producing to the extent SLF JV I has residual cash to be distributed on a quarterly basis.

Below is certain summarized financial information for SLF JV I as of December 31, 2022 and September 30, 2022 and for the three months ended December 31, 2022 and 2021:


	December 31, 2022		September 30, 2022
Selected Balance Sheet Information:
Investments at fair value (cost December 31, 2022: $380,682; cost September 30, 2022: $382,673)	$	355,427	$	359,625
Cash and cash equivalents	39,259		14,274
Restricted cash	6,612		5,642
Other assets	8,106		5,686
Total assets	$	409,404	$	385,227

Senior credit facility payable	$	226,000	$	230,000
SLF JV I Notes payable at fair value (proceeds December 31, 2022: $128,750; proceeds September 30, 2022: $110,000)	128,750		110,000
Other liabilities	27,094		21,539
Total liabilities	$	381,844	$	361,539
Members' equity	27,560		23,688
Total liabilities and members' equity	$	409,404	$	385,227


	Three months ended December 31, 2022		Three months ended December 31, 2021
Selected Statements of Operations Information:
Interest income	$	8,781	$	5,423
Other income	—		11
Total investment income	8,781		5,434
Senior credit facility interest expense	3,709		1,514
SLF JV I Notes interest expense	2,982		2,249
Other expenses	69		79
Total expenses (1)	6,760		3,842
Net investment income	2,021		1,592
Net unrealized appreciation (depreciation)	(2,207)		(525)
Net realized gains (losses)	(992)		374
Net income (loss)	$	(1,178)	$	1,441

__________

(1) There are no management fees or incentive fees charged at SLF JV I.

SLF JV I has elected to fair value the SLF JV I Notes issued to the Company and Kemper under FASB ASC Topic 825, Financial Instruments - Fair Value Option ("ASC 825"). The SLF JV I Notes are valued based on the total assets less the total liabilities senior to the SLF JV I Notes in an amount not exceeding par under the EV technique.

During the three months ended December 31, 2022, the Company sold $13.5 million of senior secured debt investments to SLF JV I for $12.9 million cash consideration, which represented the fair value at the time of sale. A loss of $0.1 million was recognized by the Company on these transactions. During the three months ended December 31, 2021, the Company sold $9.7 million of senior secured debt investments to SLF JV I for $9.7 million cash consideration, which represented the fair value at the time of sale. A gain of $0.5 million was recognized by the Company on these transactions.

OCSI Glick JV LLC

On March 19, 2021, the Company became party to the LLC agreement of Glick JV. The Company co-invests primarily in senior secured loans of middle-market companies with GF Equity Funding through the Glick JV. The Glick JV is managed by a four person Board of Directors, two of whom are selected by the Company and two of whom are selected by GF Equity Funding. The Glick JV is capitalized as transactions are completed, and portfolio decisions and investment decisions in respect of the Glick JV must be approved by the Glick JV investment committee, which consists of one representative selected by the Company and one representative selected by GF Equity Funding (with approval from a representative of each required). Since the Company does not have a controlling financial interest in the Glick JV, the Company does not consolidate the Glick JV.

The members provide capital to the Glick JV in exchange for LLC equity interests, and the Company and GF Debt Funding 2014 LLC ("GF Debt Funding"), an entity advised by affiliates of GF Equity Funding, provide capital to the Glick JV in exchange for subordinated notes issued by the Glick JV (the "Glick JV Notes"). As of December 31, 2022 and September 30, 2022, the Company and GF Equity Funding owned 87.5% and 12.5%, respectively, of the outstanding LLC equity interests, and the Company and GF Debt Funding owned 87.5% and 12.5%, respectively, of the Glick JV Notes. The Glick JV is not an "eligible portfolio company" as defined in section 2(a)(46) of the Investment Company Act.

The Glick JV has a senior revolving credit facility with Deutsche Bank AG, New York Branch (the "Glick JV Deutsche Bank Facility"), which, as of December 31, 2022, had a reinvestment period end date and maturity date of May 3, 2023 and May 3, 2028, respectively, and permitted borrowings of up to $90.0 million (subject to borrowing base and other limitations). Borrowings under the Glick JV Deutsche Bank Facility are secured by all of the assets of the Glick JV and all of the equity interests in the Glick JV and, as of December 31, 2022, bore interest at a rate equal to 3-month LIBOR plus 2.25% per annum during the reinvestment period, 3-month LIBOR plus 2.40% for the first year after the end of the reinvestment period, 3-month LIBOR plus 2.50% for the following year and 3-month LIBOR plus 2.75% thereafter, in each case with a 0.125% LIBOR floor. $76.1 million and $82.1 million of borrowings were outstanding under the Glick JV Deutsche Bank Facility as of December 31, 2022 and September 30, 2022, respectively.

As of December 31, 2022 and September 30, 2022, the Glick JV had total assets of $137.5 million and $146.8 million, respectively. The Glick JV's portfolio consisted of middle-market and other corporate debt securities of 40 and 43 portfolio companies as of December 31, 2022 and September 30, 2022, respectively. The portfolio companies in the Glick JV are in industries similar to those in which the Company may invest directly. The Company's investment in the Glick JV consisted of LLC equity interests and Glick JV Notes of $49.5 million and $50.3 million in the aggregate at fair value as of December 31, 2022 and September 30, 2022, respectively. The Glick JV Notes are junior in right of payment to the repayment of temporary contributions made by the Company to fund investments of the Glick JV that are repaid when GF Equity Funding and GF Debt Funding make their capital contributions and fund their Glick JV Notes, respectively.

As of each of December 31, 2022 and September 30, 2022, the Glick JV had total capital commitments of $100.0 million, $87.5 million of which was from the Company and the remaining $12.5 million of which was from GF Equity Funding and GF Debt Funding. Approximately $84.0 million in aggregate commitments were funded as of each of December 31, 2022 and September 30, 2022, of which $73.5 million was from the Company. As of each of December 31, 2022 and September 30, 2022, the Company had commitments to fund Glick JV Notes of $78.8 million, of which $12.4 million were unfunded. As of each of December 31, 2022 and September 30, 2022, the Company had commitments to fund LLC equity interests in the Glick JV of $8.7 million, of which $1.6 million were unfunded.

Below is a summary of the Glick JV's portfolio, followed by a listing of the individual loans in the Glick JV's portfolio as of December 31, 2022 and September 30, 2022:


	December 31, 2022	September 30, 2022
Senior secured loans (1)	$134,080	$143,225
Weighted average current interest rate on senior secured loans (2)	9.86%	8.52%
Number of borrowers in the Glick JV	40	43
Largest loan exposure to a single borrower (1)	$7,476	$6,562
Total of five largest loan exposures to borrowers (1)	$29,830	$28,973

__________

(1) At principal amount.

(2) Computed using the weighted average annual interest rate on accruing senior secured loans at fair value.

Glick JV Portfolio as of December 31, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	11.34%	Construction & Engineering	$	4,589	$	4,528	$	4,510	(4)
Alvogen Pharma Inc	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	12.23%	Pharmaceuticals	6,479		6,413		6,447		(4)
Alvogen Pharma Inc	First Lien Term Loan, LIBOR+4.00% cash due 6/9/2028	8.38%	Diversified Metals & Mining	997		918		941
Total Alvogen Pharma Inc				7,476		7,331		7,388
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	10.61%	Distributors	2,882		2,846		2,652		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	8.98%	Movies & Entertainment	2,918		2,888		2,813		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	8.48%	Personal Products	914		711		685		(4)
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027		Paper Packaging	—		(3)		(8)		(5)
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	10.38%	Paper Packaging	1,729		1,701		1,666
Total ASP-R-PAC Acquisition Co LLC				1,729		1,698		1,658
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	9.63%	Application Software	2,078		2,034		1,844		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	8.68%	Property & Casualty Insurance	1,995		1,901		1,785
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	9.63%	Property & Casualty Insurance	2,423		2,220		1,898
Total Asurion, LLC				4,418		4,121		3,683
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	10.32%	Airport Services	3,647		3,595		3,468		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	9.07%	Health Care Services	3,389		3,357		3,294
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	9.73%	Health Care Services	806		798		768		(4)(5)
Total BAART Programs, Inc.				4,195		4,155		4,062
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	10.70%	Application Software	3,960		3,912		3,193
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	9.58%	Health Care Distributors	2,280		2,143		2,142		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	8.73%	Biotechnology	2,863		2,842		2,806
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	9.38%	Cable & Satellite	2,663		2,636		2,598		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	9.79%	Paper Products	2,497		2,472		2,397
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	8.84%	Research & Consulting Services	2,993		2,938		2,764		(4)


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	8.88%	Application Software	$	2,438	$	2,413	$	2,158
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	9.13%	Leisure Products	3,960		3,920		2,930
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	9.67%	Education Services	3,990		3,882		3,807		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, SOFR+5.25% cash due 6/30/2026	10.09%	Pharmaceuticals	3,940		3,884		3,881
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	10.48%	Personal Products	2,344		2,293		2,004		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	8.94%	Metal & Glass Containers	1,995		1,849		1,819
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	9.76%	Health Care Services	3,960		3,897		3,891
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025	7.88%	Electronic Components	1,355		1,203		1,300
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026		Application Software	—		(1)		(6)		(4)(5)
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	10.23%	Application Software	1,642		1,629		1,583		(4)
Total MRI Software LLC				1,642		1,628		1,577
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025	9.23%	Electrical Components & Equipment	5,239		5,230		5,082
OEConnection LLC	First Lien Term Loan, SOFR+4.00% cash due 9/25/2026	8.42%	Application Software	3,878		3,861		3,705		(4)
Planview Parent, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 12/17/2027	8.73%	Application Software	688		649		643
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	11.98%	Application Software	2,842		2,799		2,551		(4)
Total Planview Parent, Inc.				3,530		3,448		3,194
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	11.83%	Application Software	4,465		4,401		4,354		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027	12.36%	Application Software	158		153		150		(4)(5)
Total Pluralsight, LLC				4,623		4,554		4,504
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	9.66%	Footwear	6,078		6,068		4,710
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	9.64%	Footwear	102		102		89
Total SHO Holding I Corporation				6,180		6,170		4,799
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	9.64%	Apparel Retail	4,950		4,867		4,833		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	8.92%	Industrial Machinery	5,985		5,730		5,605		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	8.48%	Application Software	2,813		2,714		2,436		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	8.05%	Health Care Facilities	3,044		3,034		3,014
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	9.18%	Application Software	2,654		2,423		2,377		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	10.38%	Health Care Supplies	3,016		2,964		2,948		(4)
Tribe Buyer LLC	First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024	8.88%	Human Resource & Employment Services	1,578		1,578		987
Windstream Services II, LLC	First Lien Term Loan, SOFR+6.25% cash due 9/21/2027	10.67%	Integrated Telecommunication Services	4,874		4,742		4,433		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	12.17%	Aerospace & Defense	3,000		2,987		2,528		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	8.17%	Aerospace & Defense	990		956		864		(4)
Total WP CPP Holdings, LLC				3,990		3,943		3,392
Total Portfolio Investments				$	134,080	$	131,077	$	123,339

__________

(1) Represents the interest rate as of December 31, 2022. All interest rates are payable in cash, unless otherwise noted.

(2) The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rates based on each respective credit agreement and the cash interest rate as of period end. All LIBOR shown above is in U.S. dollars. As of December 31, 2022, the reference rates for the Glick JV's variable rate loans were the 30-day LIBOR at 4.38%, the 90-day LIBOR at 4.73%, the 30-day SOFR at 4.32% and the 90-day SOFR at 4.58%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

(4) This investment was held by both the Company and the Glick JV as of December 31, 2022.

Glick JV Portfolio as of September 30, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	9.80%	Construction & Engineering	$	4,647	$	4,579	$	4,567	(4)
Alvogen Pharma Inc	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	11.20%	Pharmaceuticals	6,562		6,489		6,529		(4)
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	9.03%	Distributors	2,889		2,853		2,714		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	7.92%	Movies & Entertainment	2,925		2,896		2,823		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	7.42%	Personal Products	917		712		734		(4)
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	9.67%	Paper Packaging	1,734		1,704		1,694
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027		Paper Packaging	—		(4)		(5)		(5)
Total ASP-R-PAC Acquisition Co LLC				1,734		1,700		1,689
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	8.37%	Application Software	2,078		2,033		1,777		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	7.70%	Property & Casualty Insurance	2,000		1,901		1,711
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	8.37%	Property & Casualty Insurance	2,423		2,212		1,866
Total Asurion, LLC				4,423		4,113		3,577
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	8.78%	Airport Services	3,656		3,601		3,476		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12%	Health Care Services	3,398		3,366		3,279
BAART Programs, Inc.	First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12%	Health Care Services	808		800		760		(4)(5)
Total BAART Programs, Inc.				4,206		4,166		4,039
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	8.98%	Application Software	3,970		3,919		2,909
CITGO Petroleum Corp.	First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024	9.37%	Oil & Gas Refining & Marketing	3,519		3,484		3,529		(4)
City Football Group Limited	First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028	6.48%	Movies & Entertainment	2,481		2,469		2,372
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	7.65%	Health Care Distributors	2,280		2,143		2,136		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	7.67%	Biotechnology	2,870		2,849		2,756
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	8.12%	Cable & Satellite	2,730		2,703		2,549		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	8.26%	Paper Products	2,503		2,478		2,394
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	7.33%	Research & Consulting Services	3,000		2,943		2,856		(4)


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
Eagle Parent Corp.	First Lien Term Loan, SOFR+4.25% cash due 4/1/2029	7.80%	Industrial Machinery	$	2,488	$	2,429	$	2,426
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	7.62%	Application Software	2,444		2,419		2,286
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	7.94%	Leisure Products	3,970		3,930		3,216
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	8.38%	Education Services	4,000		3,887		3,655		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026	8.80%	Pharmaceuticals	3,950		3,890		3,886
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	9.42%	Personal Products	2,375		2,320		2,102		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	7.89%	Metal & Glass Containers	2,000		1,846		1,844
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	8.23%	Health Care Services	3,970		3,903		3,905
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.25% cash due 9/6/2025	6.37%	Electronic Components	1,358		1,192		1,260
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	9.17%	Application Software	1,647		1,632		1,600		(4)
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026		Application Software	—		(1)		(4)		(4)(5)
Total MRI Software LLC				1,647		1,631		1,596
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025	7.87%	Electrical Components & Equipment	5,252		5,243		5,095
OEConnection LLC	First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026	7.12%	Application Software	3,888		3,871		3,752		(4)
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	10.92%	Application Software	2,842		2,799		2,728		(4)
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	10.68%	Application Software	4,465		4,398		4,325		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027		Application Software	—		(5)		(10)		(4)(5)
Total Pluralsight, LLC				4,465		4,393		4,315
Sabert Corporation	First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026	7.63%	Metal & Glass Containers	1,691		1,674		1,623		(4)
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	8.06%	Footwear	6,094		6,082		5,332
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	8.04%	Footwear	102		102		90
Total SHO Holding I Corporation				6,196		6,184		5,422
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	8.30%	Apparel Retail	4,962		4,876		4,845		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	7.63%	Industrial Machinery	6,000		5,734		5,572		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	7.42%	Application Software	2,820		2,712		2,487		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	6.51%	Health Care Facilities	3,377		3,365		3,213
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	8.15%	Application Software	2,654		2,415		2,388		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	9.12%	Health Care Supplies	3,024		2,970		2,963		(4)
Tribe Buyer LLC	First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024	7.62%	Human Resource & Employment Services	1,583		1,582		1,266
Windstream Services II, LLC	First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027	9.37%	Integrated Telecommunication Services	4,886		4,747		4,447		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	6.56%	Aerospace & Defense	993		955		892		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	10.56%	Aerospace & Defense	3,000		2,986		2,534		(4)
Total WP CPP Holdings, LLC				3,993		3,941		3,426
Total Portfolio Investments				$	143,225	$	140,083	$	133,144

__________

(1) Represents the interest rate as of September 30, 2022. All interest rates are payable in cash, unless otherwise noted.

(2) The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rates based on each respective credit agreement and the cash interest rate as of period end. All LIBOR shown above is in U.S. dollars. As of September 30, 2022, the reference rates for the Glick JV's variable rate loans were the 30-day LIBOR at 3.12%, the 90-day LIBOR at 3.67%, the 30-day SOFR at 3.03% and the 90-day SOFR at 3.55%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

(4) This investment was held by both the Company and the Glick JV as of September 30, 2022.

The cost and fair value of the Company's aggregate investment in the Glick JV was $50.0 million and $49.5 million, respectively, as of December 31, 2022. The cost and fair value of the Company's aggregate investment in the Glick JV was $50.2 million and $50.3 million, respectively, as of September 30, 2022. For the three months ended December 31, 2022 and December 31, 2021, the Company's investment in the Glick JV Notes earned interest income of $1.6 million and $1.1 million, respectively. The Company did not earn dividend income for the three months ended December 31, 2022 and December 31, 2021 with respect to its investment in the LLC equity interest of the Glick JV. As of December 31, 2022, the Glick JV Notes bore interest at a rate of one-month LIBOR plus 4.50% per annum and will mature on October 20, 2028.

Below is certain summarized financial information for the Glick JV as of December 31, 2022 and September 30, 2022 and for the three months ended December 31, 2022 and December 31, 2021:


	December 31, 2022		September 30, 2022
Selected Balance Sheet Information:
Investments at fair value (cost December 31, 2022: $131,077; September 30, 2022: $140,083)	$	123,339	$	133,144
Cash and cash equivalents	9,777		7,021
Restricted cash	1,747		1,788
Other assets	2,592		4,855
Total assets	$	137,455	$	146,808

Senior credit facility payable	$	76,082	$	82,082
Glick JV Notes payable at fair value (proceeds December 31, 2022: $67,485; September 30, 2022: $68,185)	56,614		57,463
Other liabilities	4,759		7,263
Total liabilities	$	137,455	$	146,808
Members' equity	—		—
Total liabilities and members' equity	$	137,455	$	146,808


	For the three months ended December 31, 2022		For the three months ended December 31, 2021
Selected Statements of Operations Information:
Interest income	$	3,403	$	2,160
Fee income	—		—
Total investment income	3,403		2,160
Senior credit facility interest expense	1,285		510
Glick JV Notes interest expense	1,324		818
Other expenses	53		39
Total expenses (1)	2,662		1,367
Net investment income	741		793
Net unrealized appreciation (depreciation)	(651)		(882)
Realized gain (loss)	(90)		89
Net income (loss)	$	—	$	—

__________

(1) There are no management fees or incentive fees charged at the Glick JV.

The Glick JV has elected to fair value the Glick JV Notes issued to the Company and GF Debt Funding under ASC 825. The Glick JV Notes are valued based on the total assets less the liabilities senior to the Glick JV Notes in an amount not exceeding par under the EV technique.During the three months ended December 31, 2022 and 2021, the Company did not sell any debt investments to the Glick JV.

Fee Income	3 Months Ended
Fee Income	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Fee Income	Fee IncomeFor the three months ended December 31, 2022 and 2021, the Company recorded total fee income of $2.0 million and $0.9 million, respectively, of which $0.2 million and $0.2 million, respectively, was recurring in nature. Recurring fee income primarily consisted of servicing fees and certain exit fees.

Share Data and Net Assets

3 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Share Data and Net Assets

The share and per share information disclosed in Note 5 have been retrospectively adjusted to reflect the Company's 1-for-3 reverse stock split completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share, pursuant to ASC Topic 260-10, Earnings per Share, for the three months ended December 31, 2022 and 2021:


(Share amounts in thousands)	Three months ended December 31, 2022		Three months ended December 31, 2021
Earnings (loss) per common share — basic and diluted:
Net increase (decrease) in net assets resulting from operations	$	13,172	$	39,408
Weighted average common shares outstanding — basic and diluted	61,142		60,127
Earnings (loss) per common share — basic and diluted	$	0.22	$	0.66

Changes in Net Assets

The following table presents the changes in net assets for the three months ended December 31, 2022:


	Common Stock
(Share amounts in thousands)	Shares	Par Value		Additional paid-in-capital		Accumulated Overdistributed Earnings		Total Net Assets
Balance as of September 30, 2022	61,125	$	611	$	1,827,721	$	(582,769)	$	1,245,563
Net investment income	—	—		—		38,808		38,808
Net unrealized appreciation (depreciation)	—	—		—		(22,982)		(22,982)
Net realized gains (losses)	—	—		—		(3,203)		(3,203)
(Provision) benefit for taxes on realized and unrealized gains (losses)	—	—		—		549		549
Distributions to stockholders	—	—		—		(58,679)		(58,679)
Issuance of common stock under dividend reinvestment plan	95	1		1,932		—		1,933
Balance as of December 31, 2022	61,220	$	612	$	1,829,653	$	(628,276)	$	1,201,989

The following table presents the changes in net assets for the three months ended December 31, 2021:


	Common Stock
	Shares	Par Value		Additional paid-in-capital		Accumulated Overdistributed Earnings		Total Net Assets
Balance as of September 30, 2021	60,120	$	601	$	1,805,557	$	(493,335)	$	1,312,823
Net investment income	—	—		—		32,295		32,295
Net unrealized appreciation (depreciation)	—	—		—		(4,586)		(4,586)
Net realized gains (losses)	—	—		—		9,321		9,321
(Provision) benefit for taxes on realized and unrealized gains (losses)	—	—		—		2,378		2,378
Distributions to stockholders	—	—		—		(27,956)		(27,956)
Issuance of common stock under dividend reinvestment plan	36	1		785		—		786
Balance as of December 31, 2021	60,156	$	602	$	1,806,342	$	(481,883)	$	1,325,061

Distributions

Distributions to common stockholders are recorded on the ex-dividend date. The amount to be paid out as a dividend is determined by the Board of Directors and is based on management’s estimate of the Company’s annual taxable income. Net realized capital gains, if any, may be distributed to stockholders or retained for reinvestment.

The Company has adopted a dividend reinvestment plan (“DRIP”) that provides for reinvestment of any distributions the Company declares in cash on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, if the Company’s Board of Directors declares a cash distribution, then the Company’s stockholders who have not “opted out” of the Company’s DRIP will have their cash distribution automatically reinvested in additional shares of the Company’s common stock, rather than receiving the cash distribution. If the Company’s shares are trading at a premium to net asset value, the Company typically issues new shares to implement the DRIP with such shares issued at the greater of the most recently computed net asset value per share of common stock or 95% of the current market price per share of common stock on the payment date for such distribution. If the Company’s shares are trading at a discount to net asset value, the Company typically purchases shares in the open market in connection with the Company’s obligations under the DRIP.

For income tax purposes, the Company estimated its distributions for the 2022 calendar year will be composed primarily of ordinary income. The character of such distributions will be appropriately reported to the Internal Revenue Service and stockholders for the 2022 calendar year. To the extent the Company’s taxable earnings for a fiscal and taxable year fall below the amount of distributions paid for the fiscal and taxable year, a portion of the total amount of the Company’s distributions for the fiscal and taxable year is deemed a return of capital for U.S. federal income tax purposes to the Company’s stockholders.

The following table reflects the distributions per share that the Company has paid, including shares issued under the DRIP, on its common stock during the three months ended December 31, 2022 and 2021:


Distribution	Date Declared	Record Date	Payment Date	Amount per Share		Cash Distribution			DRIP Shares Issued		DRIP Shares Value
Quarterly	November 10, 2022	December 15, 2022	December 30, 2022	$	0.54	$	32.0	million	53,369	(1)	$	1.1	million
Special	November 10, 2022	December 15, 2022	December 30, 2022	$	0.42	$	24.8	million	41,510	(1)	$	0.8	million
Total for the three months ended December 31, 2022				$	0.96	$	56.8	million	94,879		$	1.9	million
Distribution	Date Declared	Record Date	Payment Date	Amount per Share		Cash Distribution			DRIP Shares Issued		DRIP Shares Value
Quarterly	October 13, 2021	December 15, 2021	December 31, 2021	$	0.465	$	27.2	million	35,990	(1)	$	0.8	million
Total for the three months ended December 31, 2021				$	0.465	$	27.2	million	35,990		$	0.8	million

__________

(1) New shares were issued and distributed.

Common Stock Issuances

During the three months ended December 31, 2022 and 2021, the Company issued of 94,879 and 35,990, respectively, of shares of common stock as part of the DRIP.

On February 7, 2022, the Company entered into an equity distribution agreement by and among the Company, Oaktree, Oaktree Administrator and Keefe, Bruyette & Woods, Inc., JMP Securities LLC, Raymond James & Associates, Inc. and

SMBC Nikko Securities America, Inc., as placement agents, in connection with the issuance and sale by the Company of shares of common stock, having an aggregate offering price of up to $125.0 million. Sales of the common stock may be made in negotiated transactions or transactions that are deemed to be “at the market,” as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made directly on the Nasdaq Global Select Market or similar securities exchanges or sales made to or through a market maker other than on an exchange, at prices related to the prevailing market prices or at negotiated prices.

In connection with the "at the market" offering, the Company did not issue or sell any shares of common stock during the three months ended December 31, 2022.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Borrowings

3 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Borrowings

Syndicated Facility

On November 30, 2017, the Company entered into a senior secured revolving credit facility (as amended and restated, the “Syndicated Facility”) pursuant to a Senior Secured Revolving Credit Agreement with the lenders party thereto, ING Capital LLC, as administrative agent, ING Capital LLC, JPMorgan Chase Bank, N.A., BofA Securities, Inc. and MUFG Union Bank, N.A., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. and Bank of America, N.A., as syndication agents. The Syndicated Facility provides that the Company may use the proceeds of the loans and issuances of letters of credit under the Syndicated Facility for general corporate purposes, including acquiring and funding leveraged loans, mezzanine loans, high-yield securities, convertible securities, preferred stock, common stock and other investments. The Syndicated Facility further allows the Company to request letters of credit from ING Capital LLC, as the issuing bank.

As of December 31, 2022, the size of the Syndicated Facility was $1.0 billion. In addition, pursuant to an "accordion" feature, the Company may increase the size of the facility to up to the greater of $1.25 billion and the Company's net worth, as defined in the facility, under certain circumstances.

As of December 31, 2022, (i) the period during which the Company may make drawings will expire on May 4, 2025 and the maturity date is May 4, 2026 and (ii) the interest rate margin for (a) LIBOR loans (which may be 1-, 2-, 3- or 6-month, at the Company’s option) was 2.00% and (b) alternate base rate loans was 1.00%.

The Syndicated Facility is secured by substantially all of the Company’s assets (excluding, among other things, investments held in and by certain subsidiaries of the Company (including OCSL Senior Funding II LLC) or investments in certain portfolio companies of the Company) and guaranteed by certain subsidiaries of the Company. As of December 31, 2022, except for assets that were held by OCSL Senior Funding II LLC and certain immaterial subsidiaries, substantially all of the Company's assets are pledged as collateral under the Syndicated Facility.

The Syndicated Facility requires the Company to, among other things, (i) make representations and warranties regarding the collateral as well as each of the Company’s portfolio companies’ businesses, (ii) agree to certain indemnification obligations, and (iii) comply with various affirmative and negative covenants, reporting requirements and other customary requirements for similar revolving credit facilities, including covenants related to: (A) limitations on the incurrence of additional indebtedness and liens, (B) limitations on certain investments, (C) limitations on certain asset transfers and restricted payments, (D) maintaining a certain minimum stockholders’ equity, (E) maintaining a ratio of total assets (less total liabilities) to total indebtedness, of the Company and its subsidiaries (subject to certain exceptions), of not less than 1.50 to 1.00, (F) maintaining a ratio of consolidated EBITDA to consolidated interest expense, of the Company and its subsidiaries (subject to certain exceptions), of not less than 2.25 to 1.00, (G) maintaining a minimum liquidity and net worth, and (H) limitations on the creation or existence of agreements that prohibit liens on certain properties of the Company and certain of its subsidiaries. The Syndicated Facility also includes usual and customary default provisions such as the failure to make timely payments under the facility, the occurrence of a change in control, and the failure by the Company to materially perform under the agreements governing the facility, which, if not complied with, could accelerate repayment under the facility. As of December 31, 2022, the Company was in compliance with all financial covenants under the Syndicated Facility. In addition to the asset coverage ratio described above, borrowings under the Syndicated Facility (and the incurrence of certain other permitted debt) are subject to compliance with a borrowing base that will apply different advance rates to different types of assets in the Company’s portfolio. Each loan or letter of credit originated or assumed under the Syndicated Facility is subject to the satisfaction of certain conditions.

As of December 31, 2022 and September 30, 2022, the Company had $695.0 million and $540.0 million of borrowings outstanding under the Syndicated Facility, respectively, which had a fair value of $695.0 million and $540.0 million, respectively. The Company's borrowings under the Syndicated Facility bore interest at a weighted average interest rate of 5.849% and 2.174% for the three months ended December 31, 2022 and 2021, respectively. For the three months ended

December 31, 2022 and 2021, the Company recorded interest expense (inclusive of fees) of $10.0 million and $3.8 million, respectively, related to the Syndicated Facility.

Citibank Facility

On March 19, 2021, the Company became party to a revolving credit facility (as amended and/or restated from time to time, the “Citibank Facility”) with OCSL Senior Funding II LLC (formerly OCSI Senior Funding II LLC), the Company’s wholly-owned, special purpose financing subsidiary, as the borrower, the Company, as collateral manager and seller, each of the lenders from time to time party thereto, Citibank, N.A., as administrative agent, and Wells Fargo Bank, National Association, as collateral agent and custodian.

As of December 31, 2022, the Company was able to borrow up to $200 million under the Citibank Facility (subject to borrowing base and other limitations). As of December 31, 2022, the reinvestment period under the Citibank Facility was scheduled to expire on November 18, 2023 and the maturity date for the Citibank Facility was November 18, 2024.

As of December 31, 2022, borrowings under the Citibank Facility are subject to certain customary advance rates and accrue interest at a rate equal to LIBOR plus between 1.25% and 2.20% per annum on broadly syndicated loans, subject to observable market depth and pricing, and LIBOR plus 2.25% per annum on all other eligible loans during the reinvestment period. In addition, as of December 31, 2022, for the duration of the reinvestment period there is a non-usage fee payable of 0.50% per annum on the undrawn amount under the Citibank Facility. The minimum asset coverage ratio applicable to the Company under the Citibank Facility is 150% as determined in accordance with the requirements of the Investment Company Act. Borrowings under the Citibank Facility are secured by all of the assets of OCSL Senior Funding II LLC and all of the Company’s equity interests in OCSL Senior Funding II LLC. The Company may use the Citibank Facility to fund a portion of its loan origination activities and for general corporate purposes. Each loan origination under the Citibank Facility is subject to the satisfaction of certain conditions.

As of December 31, 2022 and September 30, 2022, the Company had $165.0 million and $160.0 million outstanding under the Citibank Facility, respectively, which had a fair value of $165.0 million and $160.0 million, respectively. The Company's borrowings under the Citibank Facility bore interest at a weighted average interest rate of 6.508% and 1.830% for the three months ended December 31, 2022 and 2021, respectively. For the three months ended December 31, 2022 and 2021, the Company recorded interest expense (inclusive of fees) of $2.7 million and $0.8 million, respectively, related to the Citibank Facility.

2025 Notes

On February 25, 2020, the Company issued $300.0 million in aggregate principal amount of the 2025 Notes for net proceeds of $293.8 million after deducting OID of $2.5 million, underwriting commissions and discounts of $3.0 million and offering costs of $0.7 million. The OID on the 2025 Notes is amortized based on the effective interest method over the term of the 2025 Notes.

The 2025 Notes were issued pursuant to an indenture, dated April 30, 2012, as supplemented by the fifth supplemental indenture, dated February 25, 2020 (collectively, the "2025 Notes Indenture"), between the Company and Deutsche Bank Trust Company Americas (the "Trustee"). The 2025 Notes are the Company's general unsecured obligations that rank senior in right of payment to all of the Company's existing and future indebtedness that is expressly subordinated in right of payment to the 2025 Notes. The 2025 Notes rank equally in right of payment with all of the Company's existing and future liabilities that are not so subordinated. The 2025 Notes effectively rank junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The 2025 Notes rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.

Interest on the 2025 Notes is paid semi-annually on February 25 and August 25 at a rate of 3.500% per annum. The 2025 Notes mature on February 25, 2025 and may be redeemed in whole or in part at any time or from time to time at the Company's option prior to maturity at par plus a “make-whole” premium, if applicable. In addition, holders of the 2025 Notes can require the Company to repurchase the 2025 Notes at 100% of their principal amount upon the occurrence of certain change of control events as described in the 2025 Notes Indenture. The 2025 Notes were issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. During the three months ended December 31, 2022, the Company did not repurchase any of the 2025 Notes in the open market.

The 2025 Notes Indenture contains certain covenants, including covenants requiring the Company's compliance with the asset coverage requirements set forth in Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act or any successor provisions (but giving effect to any exemptive relief granted to the Company by the U.S. Securities and Exchange Commission ("SEC")), as well as covenants requiring the Company to provide financial information to

the holders of the 2025 Notes and the Trustee if the Company ceases to be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These covenants are subject to limitations and exceptions that are described in the 2025 Notes Indenture.

2027 Notes

On May 18, 2021, the Company issued $350.0 million in aggregate principal amount of the 2027 Notes for net proceeds of $344.8 million after deducting OID of $1.0 million, underwriting commissions and discounts of $3.5 million and offering costs of $0.7 million. The OID on the 2027 Notes is amortized based on the effective interest method over the term of the 2027 Notes.

The 2027 Notes were issued pursuant to an indenture, dated April 30, 2012, as supplemented by the sixth supplemental indenture, dated May 18, 2021 (collectively, the "2027 Notes Indenture"), between the Company and the Trustee. The 2027 Notes are the Company's general unsecured obligations that rank senior in right of payment to all of the Company's existing and future indebtedness that is expressly subordinated in right of payment to the 2027 Notes. The 2027 Notes rank equally in right of payment with all of the Company's existing and future liabilities that are not so subordinated. The 2027 Notes effectively rank junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The 2027 Notes rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.

Interest on the 2027 Notes is paid semi-annually on January 15 and July 15, beginning on January 15, 2022, at a rate of 2.700% per annum. The 2027 Notes mature on January 15, 2027 and may be redeemed in whole or in part at any time or from time to time at the Company's option prior to maturity at par plus a “make-whole” premium, if applicable. In addition, holders of the 2027 Notes can require the Company to repurchase the 2027 Notes at 100% of their principal amount upon the occurrence of certain change of control events as described in the 2027 Notes Indenture. The 2027 Notes were issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. During the three months ended December 31, 2022, the Company did not repurchase any of the 2027 Notes in the open market.

The 2027 Notes Indenture contains certain covenants, including covenants requiring the Company's compliance with the asset coverage requirements set forth in Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act or any successor provisions (but giving effect to any exemptive relief granted to the Company by the SEC), as well as covenants requiring the Company to provide financial information to the holders of the 2027 Notes and the Trustee if the Company ceases to be subject to the reporting requirements of the Exchange Act. These covenants are subject to limitations and exceptions that are described in the 2027 Notes Indenture.

In connection with the 2027 Notes, the Company entered into an interest rate swap to more closely align the interest rates of its liabilities with its investment portfolio, which consists of predominately floating rate loans. Under the interest rate swap agreement, the Company receives a fixed interest rate of 2.700% and pays a floating interest rate of the three-month LIBOR plus 1.658% on a notional amount of $350 million. The Company designated the interest rate swap as the hedging instrument in an effective hedge accounting relationship. See Note 12 for more information regarding the interest rate swap.

The below table presents the components of the carrying value of the 2025 Notes and the 2027 Notes as of December 31, 2022 and September 30, 2022:


	As of December 31, 2022				As of September 30, 2022
($ in millions)	2025 Notes		2027 Notes		2025 Notes		2027 Notes
Principal	$	300.0	$	350.0	$	300.0	$	350.0
Unamortized financing costs	(1.6)		(3.1)		(1.8)		(3.2)
Unaccreted discount	(1.1)		(0.7)		(1.2)		(0.7)
Interest rate swap fair value adjustment	—		(39.9)		—		(42.0)
Net carrying value	$	297.3	$	306.3	$	297.0	$	304.1
Fair Value	$	286.7	$	296.8	$	283.1	$	294.0

The below table presents the components of interest and other debt expenses related to the 2025 Notes and the 2027 Notes for the three months ended December 31, 2022:


($ in millions)	2025 Notes			2027 Notes
Coupon interest	$	2.6		$	2.4
Amortization of financing costs and discount	0.3			0.2
Effect of interest rate swap	—			2.5
Total interest expense	$	2.9		$	5.1
Coupon interest rate (net of effect of interest rate swap for 2027 Notes)	3.500		%	5.586		%

The below table presents the components of interest and other debt expenses related to the 2025 Notes and the 2027 Notes for the three months ended December 31, 2021:


($ in millions)	2025 Notes			2027 Notes
Coupon interest	$	2.6		$	2.4
Amortization of financing costs and discount	0.3			0.2
Effect of interest rate swap	—			(0.7)
Total interest expense	$	2.9		$	1.9
Coupon interest rate (net of effect of interest rate swap for 2027 Notes)	3.500		%	1.782		%

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Taxable/Distributable Income and Dividend Distributions

3 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Taxable/Distributable Income and Dividend Distributions

Taxable income differs from net increase (decrease) in net assets resulting from operations primarily due to: (1) unrealized appreciation (depreciation) on investments and foreign currency, as gains and losses are not included in taxable income until they are realized; (2) origination and exit fees received in connection with investments in portfolio companies; (3) organizational costs; (4) income or loss recognition on exited investments; and (5) recognition of interest income on certain loans.

As of September 30, 2022, the Company had net capital loss carryforwards of $523.7 million to offset net capital gains that will not expire, to the extent available and permitted by U.S. federal income tax law, of which $64.5 million are available to offset future short-term capital gains and $459.2 million are available to offset future long-term capital gains. A portion of such net capital loss carryfowards represented a realized loss under sections 382 and 383 of the Code, which is carried forward to future years to offset future gains subject to certain limitations.

Listed below is a reconciliation of "net increase (decrease) in net assets resulting from operations" to taxable income for the three months ended December 31, 2022 and 2021.


	Three months ended December 31, 2022		Three months ended December 31, 2021
Net increase (decrease) in net assets resulting from operations	$	13,172	$	39,408
Net unrealized (appreciation) depreciation	22,982		4,586
Book/tax difference due to organizational costs	—		(22)
Book/tax difference due to capital losses utilized	8,013		(10,531)
Other book/tax differences	(12,910)		(11,171)
Taxable/Distributable Income (1)	$	31,257	$	22,270

__________

(1) The Company's taxable income for the three months ended December 31, 2022 is an estimate and will not be finally determined until the Company files its tax return for the fiscal year ending September 30, 2023. Therefore, the final taxable income may be different than the estimate.

The Company uses the liability method to account for its taxable subsidiaries' income taxes. Using this method, the Company recognizes deferred tax assets and liabilities for the estimated future tax effects attributable to temporary differences between financial reporting and tax bases of assets and liabilities. In addition, the Company recognizes deferred tax benefits associated with net loss carry forwards that it may use to offset future tax obligations. The Company measures deferred tax assets and liabilities using the enacted tax rates expected to apply to taxable income in the years in which it expects to recover or settle those temporary differences.

When assessing the realizability of deferred tax assets, the Company considers whether it is probable that some or all of the deferred tax assets will not be realized. In determining whether the deferred tax assets are realizable, the Company considers the period of expiration of the tax asset, historical and projected taxable income and tax liabilities for the tax jurisdiction in which the tax asset is located. The deferred tax asset recognized by the Company, as it relates to the higher tax basis in the carrying value of certain assets compared to the book basis of those assets, will be recognized in future years by these taxable entities. Deferred tax assets are based on the amount of the tax benefit that the Company’s management has determined is more likely than not to be realized in future periods. In determining the realizability of this tax benefit, management considered numerous factors that will give rise to pre-tax income in future periods. Among these are the historical and expected future book and tax basis pre-tax income of the Company and unrealized gains in the Company’s assets at the determination date. Based on these and other factors, the Company determined that, as of December 31, 2022, $11.4 million of the $13.1 million deferred tax assets would not more likely than not be realized in future periods. As of December 31, 2022, the Company recorded a net deferred tax asset of $1.7 million on the Consolidated Statements of Assets and Liabilities.

For the three months ended December 31, 2022, the Company recognized a total benefit for income tax related to realized and unrealized losses of $0.5 million, which was primarily all current income tax benefit.

For the three months ended December 31, 2021, the Company recognized a total benefit for income tax related to realized and unrealized losses of $2.4 million, which was composed of (i) a current income tax benefit of approximately $1.4 million, and (ii) a deferred income tax benefit of approximately $1.0 million, which resulted from unrealized depreciation on investments held by the Company’s wholly-owned taxable subsidiaries. For the three months ended December 31, 2021, the Company recognized a provision for income tax related to net investment income of $3.3 million, which was all current income tax expense.

As of September 30, 2022, the Company's last tax year end, the components of accumulated overdistributed earnings on a tax basis were as follows:


Undistributed ordinary income, net	$	(43,624)
Net realized capital losses	473,274
Unrealized losses, net	153,119
Accumulated overdistributed earnings	$	582,769

The aggregate cost of investments for U.S. federal income tax purposes was $2,654.3 million as of September 30, 2022. As of September 30, 2022, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over cost for U.S. federal income tax purposes was $466.9 million. As of September 30, 2022, the aggregate gross unrealized depreciation for all investments in which there was an excess of cost for U.S. federal income tax purposes over value was

$620.0 million. Net unrealized depreciation based on the aggregate cost of investments for U.S. federal income tax purposes was $153.1 million.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Realized Gains or Losses and Net Unrealized Appreciation or Depreciation

3 Months Ended

Dec. 31, 2022

Investment Company [Abstract]

Realized Gains or Losses and Net Unrealized Appreciation or Depreciation

Realized Gains or Losses

Realized gains or losses are measured by the difference between the net proceeds from the sale or redemption and the cost basis of the investment without regard to unrealized appreciation or depreciation previously recognized, and include investments written-off during the period, net of recoveries. Realized losses may also be recorded in connection with the Company's determination that certain investments are considered worthless securities and/or meet the conditions for loss recognition per the applicable tax rules.

During the three months ended December 31, 2022, the Company recorded an aggregate net realized loss of $3.2 million, which consisted of the following:


($ in millions)
Portfolio Company	Net Realized Gain (Loss)
Foreign currency forward contracts	$	4.4
Carvana Co.	(2.8)
ASP Unifrax Holdings Inc.	(2.1)
Global Medical Response Inc.	(1.0)
Other, net	(1.7)
Total, net	$	(3.2)

During the three months ended December 31, 2021, the Company recorded an aggregate net realized gain of $9.3 million, which consisted of the following:


($ in millions)
Portfolio Company	Net Realized Gain (Loss)
Foreign currency forward contracts	$	3.0
OmniSYS Acquisition Corporation	2.0
First Star Speir Aviation Limited	1.9
Other, net	2.4
Total, net	$	9.3

Net Unrealized Appreciation or Depreciation

Net unrealized appreciation or depreciation reflects the net change in the valuation of the portfolio pursuant to the Company's valuation guidelines and the reclassification of any prior period unrealized appreciation or depreciation.

During the three months ended December 31, 2022 and 2021, the Company recorded net unrealized depreciation of $23.0 million and $4.6 million, respectively. For the three months ended December 31, 2022, this consisted of $18.7 million of net unrealized depreciation on debt investments and $11.0 million of net unrealized depreciation of foreign currency forward contracts, partially offset by $3.9 million of net unrealized appreciation related to exited investments (a portion of which resulted in a reclassification to realized losses) and $2.8 million of net unrealized appreciation on equity investments. For the three months ended December 31, 2021, this consisted of $4.7 million of net unrealized depreciation related to exited investments (a portion of which resulted in a reclassification to realized gains), $1.8 million of net unrealized depreciation on debt investments and $0.8 million of net unrealized depreciation of foreign currency forward contracts, partially offset by $2.8 million of net unrealized appreciation on equity investments.

Concentration of Credit Risk	3 Months Ended
Concentration of Credit Risk	Dec. 31, 2022
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit Risks The Company deposits its cash with financial institutions and at times such balances may be in excess of the FDIC insurance limit. The Company limits its exposure to credit loss by depositing its cash with high credit quality financial institutions and monitoring their financial stability.

Related Party Transactions	3 Months Ended
Related Party Transactions	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 31, 2022 and September 30, 2022, the Company had a liability on its Consolidated Statements of Assets and Liabilities in the amount of $16.9 million and $15.9 million, respectively, reflecting the unpaid portion of the base management fees and incentive fees payable to Oaktree. Investment Advisory Agreement The Company is party to the Investment Advisory Agreement. Under the Investment Advisory Agreement, the Company pays Oaktree a fee for its services under the Investment Advisory Agreement consisting of two components: a base management fee and an incentive fee. The cost of both the base management fee payable to Oaktree and any incentive fees earned by Oaktree is ultimately borne by common stockholders of the Company. From October 17, 2017 through May 3, 2020, the Company was externally managed by OCM pursuant to an investment advisory agreement. On May 4, 2020, OCM effected the novation of such investment advisory agreement to Oaktree. Immediately following such novation, the Company and Oaktree entered into a new investment advisory agreement with the same terms, including fee structure, as the investment advisory agreement with OCM. The investment advisory agreement with Oaktree was subsequently amended and restated on March 19, 2021 in connection with the closing of the OCSI Merger and on January 23, 2023 in connection with the OSI2 Merger. The term “Investment Advisory Agreement” refers collectively to the agreements with Oaktree and, prior to its novation, with OCM. Unless earlier terminated as described below, the Investment Advisory Agreement will remain in effect from year-to-year if approved annually by the Board of Directors of the Company or by the affirmative vote of the holders of a majority of the Company’s outstanding voting securities, including, in either case, approval by a majority of the directors of the Company who are not interested persons. The Investment Advisory Agreement will automatically terminate in the event of its assignment. The Investment Advisory Agreement may be terminated by either party without penalty upon 60 days’ written notice to the other. The Investment Advisory Agreement may also be terminated, without penalty, upon the vote of a majority of the outstanding voting securities of the Company. Base Management Fee Under the Investment Advisory Agreement, the base management fee is calculated at an annual rate of 1.50% of total gross assets, including any investment made with borrowings, but excluding cash and cash equivalents. The base management fee is payable quarterly in arrears and the fee for any partial month or quarter is appropriately prorated. Effective May 3, 2019, the base management fee on the Company’s gross assets, including any investments made with borrowings, but excluding any cash and cash equivalents, that exceed the product of (A) 200% and (B) the Company’s net asset value will be 1.00%. For the avoidance of doubt, the 200% will be calculated in accordance with the Investment Company Act and will give effect to exemptive relief the Company received from the SEC with respect to debentures issued by a small business investment company subsidiary. In connection with the OCSI Merger, Oaktree waived an aggregate of $6 million of base management fees otherwise payable to Oaktree in the two years following the closing of the OCSI Merger on March 19, 2021 at a rate of $750,000 per quarter (with such amount appropriately prorated for any partial quarter). In connection with the OSI2 Merger, Oaktree waived an aggregate of $9.0 million of base management fees payable to Oaktree as follows: $6.0 million at a rate of $1.5 million per quarter (with such amount appropriately prorated for any partial quarter) in the first year following closing of the OSI2 Merger on January 23, 2023 and $3.0 million at a rate of $750,000 per quarter (with such amount appropriately prorated for any partial quarter) in the second year following closing of the OSI2 Merger. For the three months ended December 31, 2022 and 2021, the base management fee incurred under the Investment Advisory Agreement was $9.2 million (net of waiver) and $9.2 million (net of waiver), respectively. Incentive Fee The incentive fee consists of two parts. Under the Investment Advisory Agreement, the first part of the incentive fee (the “incentive fee on income” or "Part I incentive fee") is calculated and payable quarterly in arrears based upon the “pre-incentive fee net investment income” of the Company for the immediately preceding quarter. The payment of the incentive fee on income is subject to payment of a preferred return to investors each quarter (i.e., a “hurdle rate”), expressed as a rate of return on the value of the Company’s net assets at the end of the most recently completed quarter, of 1.50%, subject to a “catch up” feature. For this purpose, “pre-incentive fee net investment income” means interest income, dividend income and any other income (including any other fees such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies, other than fees for providing managerial assistance) accrued during the fiscal quarter, minus the Company’s operating expenses for the quarter (including the base management fee, expenses payable under the Administration Agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-incentive fee net investment income includes, in the case of investments with a deferred interest feature (such as OID debt, instruments with PIK interest and zero coupon securities), accrued income that the Company has not yet received in cash. Pre-incentive fee net investment income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. In addition, pre-incentive fee net investment income does not include any amortization or accretion of any purchase premium or purchase discount to interest income resulting solely from merger-related accounting adjustments in connection with the assets acquired in the OCSI Merger or in the OSI2 Merger, in each case, including any premium or discount paid for the acquisition of such assets, solely to the extent that the inclusion of such merger-related accounting adjustments, in the aggregate, would result in an increase in pre-incentive fee net investment income. Under the Investment Advisory Agreement, the calculation of the incentive fee on income for each quarter is as follows: •No incentive fee is payable to Oaktree in any quarter in which the Company’s pre-incentive fee net investment income does not exceed the preferred return rate of 1.50% (the “preferred return”) on net assets; •100% of the Company’s pre-incentive fee net investment income, if any, that exceeds the preferred return but is less than or equal to 1.8182% in any fiscal quarter is payable to Oaktree. This portion of the incentive fee on income is referred to as the “catch-up” provision, and it is intended to provide Oaktree with an incentive fee of 17.5% on all of the Company’s pre-incentive fee net investment income when the Company’s pre-incentive fee net investment income exceeds 1.8182% on net assets in any fiscal quarter; and •For any quarter in which the Company’s pre-incentive fee net investment income exceeds 1.8182% on net assets, the incentive fee on income is equal to 17.5% of the amount of the Company’s pre-incentive fee net investment income, as the preferred return and catch-up will have been achieved. There is no accumulation of amounts on the hurdle rate from quarter to quarter and accordingly there is no clawback of amounts previously paid if subsequent quarters are below the quarterly hurdle. For the three months ended December 31, 2022 and 2021, the first part of the incentive fee (incentive fee on income) incurred under the Investment Advisory Agreement was $7.7 million and $6.5 million, respectively. Under the Investment Advisory Agreement, the second part of the incentive fee (the "capital gains incentive fee") is determined and payable in arrears as of the end of each fiscal year (or upon termination of the Investment Advisory Agreement, as of the termination date) commencing with the fiscal year ended September 30, 2019 and equals 17.5% of the Company’s realized capital gains, if any, on a cumulative basis from the beginning of the fiscal year ended September 30, 2019 through the end of each subsequent fiscal year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gain incentive fees under the Investment Advisory Agreement. Any realized capital gains, realized capital losses, unrealized capital appreciation and unrealized capital depreciation with respect to the Company’s portfolio as of the end of the fiscal year ended September 30, 2018 are excluded from the calculations of the second part of the incentive fee. In addition, the calculation of realized capital gains, realized capital losses and unrealized capital depreciation does (1) not include any such amounts resulting solely from merger-related accounting adjustments in connection with the assets acquired in the OCSI Merger or in the OSI2 Merger, in each case, including any premium or discount paid for the acquisition of such assets, solely to the extent that the inclusion of such merger-related accounting adjustments, in the aggregate, would result in an increase in the capital gains incentive fee, (2) include any such amounts associated with the investments acquired in the OCSI Merger for the period from October 1, 2018 to the date of closing of the OCSI Merger, solely to the extent that the exclusion of such amounts, in the aggregate, would result in an increase in the capital gains incentive fee and (3) include any such amounts associated with the investments acquired in the OSI2 Merger for the period from August 6, 2018 to the date of closing of the OSI2 Merger, solely to the extent that the exclusion of such amounts, in the aggregate, would result in an increase in the capital gains incentive fee. As of December 31, 2022, the Company paid $9.6 million of capital gains incentive fees cumulatively under the Investment Advisory Agreement (net of waivers). Part II incentive fees are contractually calculated and paid at the end of the fiscal year in accordance with the Investment Advisory Agreement, which, as described above, differs from Part II incentive fees accrued under GAAP. Hypothetically, if Part II incentive fees were calculated as of December 31, 2022 under the Investment Advisory Agreement, no Part II incentive fees would be payable. GAAP requires that the capital gains incentive fee accrual consider the cumulative aggregate unrealized capital appreciation in the calculation, as a capital gains incentive fee would be payable if such unrealized capital appreciation were realized on a theoretical "liquidation basis." A fee so calculated and accrued would not be payable under applicable law and may never be paid based upon the computation of capital gains incentive fees in subsequent periods. Amounts ultimately paid under the Investment Advisory Agreement will be consistent with the formula reflected in the Investment Advisory Agreement. This GAAP accrual is calculated using the aggregate cumulative realized capital gains and losses and aggregate cumulative unrealized capital depreciation included in the calculation of the capital gains incentive fee plus the aggregate cumulative unrealized capital appreciation. Any realized capital gains and losses and cumulative unrealized capital appreciation and depreciation with respect to the Company’s portfolio as of the end of the fiscal year ended September 30, 2018 are excluded from the GAAP accrual. If such amount is positive at the end of a period, then GAAP requires the Company to record a capital gains incentive fee equal to 17.5% of such cumulative amount, less the aggregate amount of actual capital gains incentive fees payable or capital gains incentive fees accrued under GAAP in all prior periods. The resulting accrual for any capital gains incentive fee under GAAP in a given period may result in an additional expense if such cumulative amount is greater than in the prior period or a reversal of previously recorded expense if such cumulative amount is less than in the prior period. If such cumulative amount is negative, then there is no accrual. There can be no assurance that such unrealized capital appreciation will be realized in the future or any accrued capital gains incentive fee will become payable under the Investment Advisory Agreement. For the three months ended December 31, 2022, there were no accrued capital gains incentive fees. For the three months ended December 31, 2021, $1.8 million of accrued capital gains incentive fees were expensed. As of December 31, 2022, the total accrued capital gains incentive fee liability was zero. Indemnification The Investment Advisory Agreement provides that, absent willful misfeasance, bad faith or gross negligence in the performance of their respective duties or by reason of the reckless disregard of their respective duties and obligations, Oaktree and its officers, managers, partners, members (and their members, including the owners of their members), agents, employees, controlling persons and any other person or entity affiliated with it, are entitled to indemnification from the Company for any damages, liabilities, costs and expenses (including reasonable attorneys' fees and amounts reasonably paid in settlement) arising from the rendering of Oaktree's services under the Investment Advisory Agreement or otherwise as investment adviser. Administrative Services The Company is party to the Administration Agreement with Oaktree Administrator. Pursuant to the Administration Agreement, Oaktree Administrator provides administrative services to the Company necessary for the operations of the Company, which include providing office facilities, equipment, clerical, bookkeeping and record keeping services at such facilities and such other services as Oaktree Administrator, subject to review by the Company’s Board of Directors, shall from time to time deem to be necessary or useful to perform its obligations under the Administration Agreement. Oaktree Administrator may, on behalf of the Company, conduct relations and negotiate agreements with custodians, trustees, depositories, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable. Oaktree Administrator makes reports to the Company’s Board of Directors of its performance of obligations under the Administration Agreement and furnishes advice and recommendations with respect to such other aspects of the Company’s business and affairs, in each case, as it shall determine to be desirable or as reasonably required by the Company’s Board of Directors; provided that Oaktree Administrator shall not provide any investment advice or recommendation. Oaktree Administrator also provides portfolio collection functions for interest income, fees and warrants and is responsible for the financial and other records that the Company is required to maintain and prepares, prints and disseminates reports to the Company’s stockholders and all other materials filed with the SEC. In addition, Oaktree Administrator assists the Company in determining and publishing the Company’s net asset value, overseeing the preparation and filing of the Company’s tax returns, and generally overseeing the payment of the Company’s expenses and the performance of administrative and professional services rendered to the Company by others. Oaktree Administrator may also offer to provide, on the Company’s behalf, managerial assistance to the Company’s portfolio companies. For providing these services, facilities and personnel, the Company reimburses Oaktree Administrator the allocable portion of overhead and other expenses incurred by Oaktree Administrator in performing its obligations under the Administration Agreement, including the Company’s allocable portion of the rent of the Company’s principal executive offices (which are located in a building owned by a Brookfield affiliate) at market rates and the Company’s allocable portion of the costs of compensation and related expenses of its Chief Financial Officer, Chief Compliance Officer, their staffs and other non- investment professionals at Oaktree that perform duties for the Company. Such reimbursement is at cost, with no profit to, or markup by, Oaktree Administrator. The Administration Agreement may be terminated by either party without penalty upon 60 days’ written notice to the other. The Administration Agreement may also be terminated, without penalty, upon the vote of a majority of the Company’s outstanding voting securities. For the three months ended December 31, 2022 and 2021, the Company accrued administrative expenses of $0.4 million and $0.5 million, respectively, including $0.1 million and $0.1 million of general and administrative expenses, respectively. As of December 31, 2022 and September 30, 2022, $3.3 million and $3.2 million, respectively, was included in “Due to affiliate” in the Consolidated Statements of Assets and Liabilities, reflecting the unpaid portion of administrative expenses and other reimbursable expenses payable to Oaktree Administrator.

Financial Highlights

3 Months Ended

Dec. 31, 2022

Investment Company [Abstract]

Financial Highlights


(Share amounts in thousands)	Three months ended December 31, 2022 (8)	Three months ended December 31, 2021 (8)
Net asset value per share at beginning of period	$20.38	$21.84
Net investment income (1)	0.63	0.54
Net unrealized appreciation (depreciation) (1)	(0.38)	(0.08)
Net realized gains (losses) (1)	(0.05)	0.16
(Provision) benefit for taxes on realized and unrealized gains (losses) (1)	0.01	0.04
Distributions of net investment income to stockholders	(0.96)	(0.47)
Net asset value per share at end of period	$19.63	$22.03
Per share market value at beginning of period (7)	$18.00	$21.18
Per share market value at end of period (7)	$20.61	$22.38
Total return (2)	19.90%	7.92%
Common shares outstanding at beginning of period	61,125	60,120
Common shares outstanding at end of period	61,220	60,156
Net assets at beginning of period	$1,245,563	$1,312,823
Net assets at end of period	$1,201,989	$1,325,061
Average net assets (3)	$1,241,806	$1,327,934
Ratio of net investment income to average net assets (4)	12.40%	9.65%
Ratio of total expenses to average net assets (4)	13.11%	8.99%
Ratio of net expenses to average net assets (4)	12.87%	8.77%
Ratio of portfolio turnover to average investments at fair value	4.24%	9.14%
Weighted average outstanding debt (5)	$1,441,326	$1,331,141
Average debt per share (1)	$23.57	$22.14
Asset coverage ratio at end of period (6)	176.31%	200.81%

__________


(1)			Calculated based upon weighted average shares outstanding for the period.
(2)			Total return equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming dividend reinvestment prices obtained under the Company's DRIP. Total return does not include sales load.
(3)			Calculated based upon the weighted average net assets for the period.
(4)			Interim periods are annualized.
(5)			Calculated based upon the weighted average of principal debt outstanding for the period.
(6)			Based on outstanding senior securities of $1,514.4 million and $1,300.0 million as of December 31, 2022 and 2021, respectively.
(7)			Per share market values are adjusted to reflect the 1-for-3 reverse stock split of the Company's common stock completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.
(8)			The share and per share information disclosed in this table has been retrospectively adjusted to reflect the Company's 1-for-3 reverse stock split completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.

Derivative Instruments

3 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

The Company enters into foreign currency forward contracts from time to time to help mitigate the impact that an adverse change in foreign exchange rates would have on the value of the Company’s investments denominated in foreign currencies. In order to better define its contractual rights and to secure rights that will help the Company mitigate its counterparty risk, the Company entered into an International Swaps and Derivatives Association, Inc. Master Agreement (the "ISDA Master Agreement") with its derivative counterparty, JPMorgan Chase Bank, N.A. The ISDA Master Agreement permits a single net payment in the event of a default or similar event. As of December 31, 2022, no cash collateral has been pledged to cover obligations and no cash collateral has been received from the counterparty with respect to the Company's forward currency contracts.

In connection with the issuance of the 2027 Notes, the Company entered into an interest rate swap agreement with the Royal Bank of Canada pursuant to an ISDA Master Agreement. As of December 31, 2022, the Company paid $39.8 million to the Royal Bank of Canada to cover collateral obligations under the terms of the interest swap agreement, which is included in due from broker on the Consolidated Statement of Assets and Liabilities.

Certain information related to the Company’s foreign currency forward contracts is presented below as of December 31, 2022.


Description	Notional Amount to be Purchased		Notional Amount to be Sold		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Foreign currency forward contract	$	44,825	€	44,224	2/9/2023	$	—	$	(2,499)	Derivative liability
Foreign currency forward contract	$	46,412	£	39,965	2/9/2023	$	—	$	(1,712)	Derivative liability
						$	—	$	(4,211)

Certain information related to the Company’s foreign currency forward contracts is presented below as of September 30, 2022.


Description	Notional Amount to be Purchased		Notional Amount to be Sold		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Foreign currency forward contract	$	43,179	€	41,444	11/10/2022	$	2,466	$	—	Derivative asset
Foreign currency forward contract	$	45,692	£	37,033	11/10/2022	$	4,323	$	—	Derivative asset
						$	6,789	$	—

Certain information related to the Company’s interest rate swap is presented below as of December 31, 2022.


Description	Notional Amount		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Interest rate swap	$	350,000	1/15/2027	$	—	$	39,928	Derivative liability
				$	—	$	39,928

Certain information related to the Company’s interest rate swap is presented below as of September 30, 2022.


Description	Notional Amount		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Interest rate swap	$	350,000	1/15/2027	$	—	$	41,969	Derivative liability
				$	—	$	41,969

Commitments and Contingencies

3 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Off-Balance Sheet Arrangements

The Company may be a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of its portfolio companies. As of December 31, 2022, the Company's only off-balance sheet arrangements consisted of $198.9 million of unfunded commitments, which was comprised of $171.8 million to provide debt and equity financing to certain of its portfolio companies and $27.1 million to provide financing to the JVs. As of September 30, 2022, the Company's only off-balance sheet arrangements consisted of $224.2 million of unfunded commitments, which was comprised of $175.2 million to provide debt and equity financing to certain of its portfolio companies and $49.0 million to provide financing to the JVs. Such commitments are subject to the portfolio companies' satisfaction of certain financial and nonfinancial covenants and may involve, to varying degrees, elements of credit risk in excess of the amount recognized in the Consolidated Statements of Assets and Liabilities.

A list of unfunded commitments by investment (consisting of revolvers, term loans with delayed draw components, subordinated notes and LLC equity interests in the JVs, preferred stock and limited partnership interests) as of December 31, 2022 and September 30, 2022 is shown in the table below:


	December 31, 2022		September 30, 2022
Delta Leasing SPV II LLC	$	23,004	$	27,187
Fairbridge Strategic Capital Funding LLC	15,995		22,150
OCSI Glick JV LLC	13,998		13,998
Senior Loan Fund JV I, LLC	13,125		35,000
BioXcel Therapeutics, Inc.	11,785		11,785
Dominion Diagnostics, LLC	11,148		11,148
BAART Programs, Inc.	7,675		8,645
iCIMs, Inc.	6,930		6,930
Marinus Pharmaceuticals, Inc.	5,734		5,734
scPharmaceuticals Inc.	5,212		—
Assembled Brands Capital LLC	5,035		2,008
RumbleOn, Inc.	4,822		4,822
MRI Software LLC	4,427		5,196
107 Fair Street LLC	4,322		—
Grove Hotel Parcel Owner, LLC	4,293		4,293
Accupac, Inc.	4,197		4,605
Innocoll Pharmaceuticals Limited	4,195		4,195
Avalara, Inc.	4,147		—
Mindbody, Inc.	4,000		4,000
OTG Management, LLC	3,789		3,789
Mesoblast, Inc.	3,553		3,553
Establishment Labs Holdings Inc.	3,384		5,075
112-126 Van Houten Real22 LLC	3,174		—
ADC Therapeutics SA	3,020		3,020
Spanx, LLC	2,762		2,226
PRGX Global, Inc.	2,518		2,518
SCP Eye Care Services, LLC	2,356		—
Relativity ODA LLC	2,218		2,218
Berner Food & Beverage, LLC	2,197		1,392
Salus Workers' Compensation, LLC	2,171		—
Pluralsight, LLC	1,766		3,532
Tahoe Bidco B.V.	1,741		1,741
CorEvitas, LLC	1,526		915
Coyote Buyer, LLC	1,333		1,333
MHE Intermediate Holdings, LLC	1,229		1,429
Kings Buyer, LLC	1,208		1,537
Liquid Environmental Solutions Corporation	1,115		1,115
Acquia Inc.	923		1,326
Apptio, Inc.	892		1,338
Digital.AI Software Holdings, Inc.	826		826
Telestream Holdings Corporation	528		528
GKD Index Partners, LLC	320		320
PFNY Holdings, LLC	275		1,527
Ardonagh Midco 3 PLC	—		4,372
Dialyze Holdings, LLC	—		3,431
Thrasio, LLC	—		2,578
109 Montgomery Owner LLC	—		477
LSL Holdco, LLC	—		427
Total	$	198,868	$	224,239

Schedule 12-14

3 Months Ended

Dec. 31, 2022

Investments in and Advances to Affiliates [Abstract]

Schedule 12-14

Oaktree Specialty Lending Corporation

Schedule of Investments in and Advances to Affiliates

(in thousands, except share and per share amounts, percentages and as otherwise indicated)

Three months ended December 31, 2022

(unaudited)


Portfolio Company/Type of Investment (1)	Cash Interest Rate		Industry	Principal		Net Realized Gain (Loss)		Amount of Interest, Fees or Dividends Credited in Income (2)		Fair Value as of October 1, 2022		Gross Additions (3)		Gross Reductions (4)		Fair Value as of December 31, 2022		% of Total Net Assets
Control Investments
C5 Technology Holdings, LLC			Data Processing & Outsourced Services
829 Common Units						$	—	$	—	$	—	$	—	$	—	$	—	—	%
34,984,460.37 Preferred Units						—		—		27,638		—		—		27,638		2.3	%
Dominion Diagnostics, LLC			Health Care Services
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024	9.73	%		$	14,297	—		331		14,333		—		(36)		14,297		1.2	%
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024				—		—		14		—		—		—		—		—	%
30,030.8 Common Units in DD Healthcare Services Holdings, LLC						—		—		4,946		—		(719)		4,227		0.4	%
OCSI Glick JV LLC (5)			Multi-Sector Holdings
Subordinated Debt, LIBOR+4.50% cash due 10/20/2028	7.67	%		59,049		—		1,624		50,283		380		(1,127)		49,536		4.1	%
87.5% equity interest						—		—		—		—		—		—		—	%
Senior Loan Fund JV I, LLC (6)			Multi-Sector Holdings
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028	10.17	%		112,656		—		2,611		96,250		16,406		—		112,656		9.4	%
87.5% LLC equity interest						—		1,050		20,715		5,469		(2,076)		24,108		2.0	%
Total Control Investments				$	186,002	$	—	$	5,630	$	214,165	$	22,255	$	(3,958)	$	232,462	19.3	%

Affiliate Investments
Assembled Brands Capital LLC			Specialized Finance
First Lien Revolver, LIBOR+6.75% cash due 10/17/2023	11.48	%		$	21,464	$	—	$	646	$	24,225	$	55	$	(3,028)	$	21,252	1.8	%
1,609,201 Class A Units						—		—		370		—		(16)		354		—	%
1,019,168.80 Preferred Units, 6%						—		—		1,223		20		—		1,243		0.1	%
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029						—		—		—		—		—		—		—	%
Caregiver Services, Inc.			Health Care Services
1,080,399 shares of Series A Preferred Stock, 10%				—		—		—		378		—		(54)		324		—	%
Total Affiliate Investments				$	21,464	$	—	$	646	$	26,196	$	75	$	(3,098)	$	23,173	1.9	%
Total Control & Affiliate Investments				$	207,466	$	—	$	6,276	$	240,361	$	22,330	$	(7,056)	$	255,635	21.2	%

This schedule should be read in connection with the Company's Consolidated Financial Statements, including the Consolidated Schedules of Investments and Notes to the Consolidated Financial Statements.

______________________

(1)The principal amount and ownership detail are shown in the Company's Consolidated Schedules of Investments.

(2)Represents the total amount of interest (net of non-accrual amounts), fees and dividends credited to income for the portion of the period an investment was included in the Control or Affiliate categories.

(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments, accrued PIK interest (net of non-accrual amounts) and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in unrealized depreciation as well as the movement of an existing portfolio company into this category or out of a different category.

(4)Gross reductions include decreases in the cost basis of investments resulting from principal payments or sales and exchanges of one or more existing securities for one or more new securities. Gross reductions also include net increases in unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.

(5)Together with GF Equity Funding, the Company co-invests through Glick JV. Glick JV is capitalized as transactions are completed and all portfolio and investment decisions in respect to Glick JV must be approved by the Glick JV investment committee consisting of representatives of the Company and GF Equity Funding (with approval from a representative of each required).

(6)Together with Kemper, the Company co-invests through SLF JV I. SLF JV I is capitalized as transactions are completed and all portfolio and investment decisions in respect to SLF JV I must be approved by the SLF JV I investment committee consisting of representatives of the Company and Kemper (with approval from a representative of each required).

Schedule 12-14

Oaktree Specialty Lending Corporation

Schedule of Investments in and Advances to Affiliates

(in thousands, except share and per share amounts, percentages and as otherwise indicated)

Three months ended December 31, 2021

(unaudited)


Portfolio Company/Type of Investment (1)	Cash Interest Rate		Industry	Principal		Net Realized Gain (Loss)		Amount of Interest, Fees or Dividends Credited in Income (2)		Fair Value as of October 1, 2021		Gross Additions (3)		Gross Reductions (4)		Fair Value as of December 31, 2021		% of Total Net Assets
Control Investments
C5 Technology Holdings, LLC			Data Processing & Outsourced Services
829 Common Units						$	—	$	—	$	—	$	—	$	—	$	—	—	%
34,984,460.37 Preferred Units						—		—		27,638		—		—		27,638		2.1	%
Dominion Diagnostics, LLC			Health Care Services
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024	6.00	%		$	23,201	—		430		27,381		—		(4,180)		23,201		1.8	%
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024				—		—		14		—		—		—		—		—	%
30,030.8 Common Units in DD Healthcare Services Holdings, LLC						—		3,308		18,065		—		—		18,065		1.4	%
First Star Speir Aviation Limited (5)			Airlines
First Lien Term Loan, 9.00% cash due 12/15/2025				—		7,500		—		7,500		—		(7,500)		—		—	%
100% equity interest						(5,632)		158		698		—		(698)		—		—	%
OCSI Glick JV LLC (6)			Multi-Sector Holdings
Subordinated Debt, LIBOR+4.50% cash due 10/20/2028	4.58	%		61,237		—		1,081		55,582		745		(473)		55,854		4.2	%
87.5% equity interest						—		—		—		—		—		—		—	%
Senior Loan Fund JV I, LLC (7)			Multi-Sector Holdings
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028	8.00	%		96,250		—		1,967		96,250		—		—		96,250		7.3	%
87.5% LLC equity interest						—		451		37,651		810		—		38,461		2.9	%
Total Control Investments				$	180,688	$	1,868	$	7,409	$	270,765	$	1,555	$	(12,851)	$	259,469	19.6	%

Affiliate Investments
Assembled Brands Capital LLC			Specialized Finance
First Lien Revolver, LIBOR+6.75% cash due 10/17/2023	7.75	%		$	15,982	$	—	$	339	$	15,712	$	3,499	$	(3,487)	$	15,724	1.2	%
1,609,201 Class A Units						—		—		587		—		(201)		386		—	%
1,019,168.80 Preferred Units, 6%						—		—		1,152		20		—		1,172		0.1	%
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029						—		—		—		—		—		—		—	%
Caregiver Services, Inc.			Health Care Services
1,080,399 shares of Series A Preferred Stock, 10%				—		—		—		838		—		—		838		0.1	%
Total Affiliate Investments				$	15,982	$	—	$	339	$	18,289	$	3,519	$	(3,688)	$	18,120	1.4	%
Total Control & Affiliate Investments				$	196,670	$	1,868	$	7,748	$	289,054	$	5,074	$	(16,539)	$	277,589	21.0	%

______________________

(1)The principal amount and ownership detail are shown in the Company's Consolidated Schedules of Investments included in the Company's quarterly report on Form 10-Q for the quarter ended December 31, 2021.

(5)First Star Speir Aviation Limited is a wholly-owned holding company formed by the Company in order to facilitate its investment strategy. In accordance with ASU 2013-08, the Company has deemed the holding company to be an investment company under GAAP and therefore deemed it appropriate to consolidate the financial results and financial position of the holding company and to recognize dividend income versus a combination of interest income and dividend income. Accordingly, the debt and equity investments in the wholly-owned holding company are disregarded for accounting purposes since the economic substance of these instruments are equity investments in the operating entities.

(6)Together with GF Equity Funding, the Company co-invests through Glick JV. Glick JV is capitalized as transactions are completed and all portfolio and investment decisions in respect to Glick JV must be approved by the Glick JV investment committee consisting of representatives of the Company and GF Equity Funding (with approval from a representative of each required).

(7)Together with Kemper, the Company co-invests through SLF JV I. SLF JV I is capitalized as transactions are completed and all portfolio and investment decisions in respect to SLF JV I must be approved by the SLF JV I investment committee consisting of representatives of the Company and Kemper (with approval from a representative of each required).

N-2 - USD ($) $ in Millions	3 Months Ended
N-2 - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Cover [Abstract]
Entity Central Index Key	0001414932
Amendment Flag	false
Securities Act File Number	1-33901
Document Type	10-Q
Entity Registrant Name	Oaktree Specialty Lending Corporation
Entity Address, Address Line One	333 South Grand Avenue
Entity Address, Address Line Two	28th Floor
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90071
City Area Code	213
Local Phone Number	830-6300
Entity Emerging Growth Company	false
Financial Highlights [Abstract]
Senior Securities [Table Text Block]
Senior Securities Amount	$ 1,514.4	$ 1,300.0
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Long Term Debt [Table Text Block]	Syndicated Facility On November 30, 2017, the Company entered into a senior secured revolving credit facility (as amended and restated, the “Syndicated Facility”) pursuant to a Senior Secured Revolving Credit Agreement with the lenders party thereto, ING Capital LLC, as administrative agent, ING Capital LLC, JPMorgan Chase Bank, N.A., BofA Securities, Inc. and MUFG Union Bank, N.A., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. and Bank of America, N.A., as syndication agents. The Syndicated Facility provides that the Company may use the proceeds of the loans and issuances of letters of credit under the Syndicated Facility for general corporate purposes, including acquiring and funding leveraged loans, mezzanine loans, high-yield securities, convertible securities, preferred stock, common stock and other investments. The Syndicated Facility further allows the Company to request letters of credit from ING Capital LLC, as the issuing bank. As of December 31, 2022, the size of the Syndicated Facility was $1.0 billion. In addition, pursuant to an "accordion" feature, the Company may increase the size of the facility to up to the greater of $1.25 billion and the Company's net worth, as defined in the facility, under certain circumstances. As of December 31, 2022, (i) the period during which the Company may make drawings will expire on May 4, 2025 and the maturity date is May 4, 2026 and (ii) the interest rate margin for (a) LIBOR loans (which may be 1-, 2-, 3- or 6-month, at the Company’s option) was 2.00% and (b) alternate base rate loans was 1.00%. The Syndicated Facility is secured by substantially all of the Company’s assets (excluding, among other things, investments held in and by certain subsidiaries of the Company (including OCSL Senior Funding II LLC) or investments in certain portfolio companies of the Company) and guaranteed by certain subsidiaries of the Company. As of December 31, 2022, except for assets that were held by OCSL Senior Funding II LLC and certain immaterial subsidiaries, substantially all of the Company's assets are pledged as collateral under the Syndicated Facility. The Syndicated Facility requires the Company to, among other things, (i) make representations and warranties regarding the collateral as well as each of the Company’s portfolio companies’ businesses, (ii) agree to certain indemnification obligations, and (iii) comply with various affirmative and negative covenants, reporting requirements and other customary requirements for similar revolving credit facilities, including covenants related to: (A) limitations on the incurrence of additional indebtedness and liens, (B) limitations on certain investments, (C) limitations on certain asset transfers and restricted payments, (D) maintaining a certain minimum stockholders’ equity, (E) maintaining a ratio of total assets (less total liabilities) to total indebtedness, of the Company and its subsidiaries (subject to certain exceptions), of not less than 1.50 to 1.00, (F) maintaining a ratio of consolidated EBITDA to consolidated interest expense, of the Company and its subsidiaries (subject to certain exceptions), of not less than 2.25 to 1.00, (G) maintaining a minimum liquidity and net worth, and (H) limitations on the creation or existence of agreements that prohibit liens on certain properties of the Company and certain of its subsidiaries. The Syndicated Facility also includes usual and customary default provisions such as the failure to make timely payments under the facility, the occurrence of a change in control, and the failure by the Company to materially perform under the agreements governing the facility, which, if not complied with, could accelerate repayment under the facility. As of December 31, 2022, the Company was in compliance with all financial covenants under the Syndicated Facility. In addition to the asset coverage ratio described above, borrowings under the Syndicated Facility (and the incurrence of certain other permitted debt) are subject to compliance with a borrowing base that will apply different advance rates to different types of assets in the Company’s portfolio. Each loan or letter of credit originated or assumed under the Syndicated Facility is subject to the satisfaction of certain conditions. As of December 31, 2022 and September 30, 2022, the Company had $695.0 million and $540.0 million of borrowings outstanding under the Syndicated Facility, respectively, which had a fair value of $695.0 million and $540.0 million, respectively. The Company's borrowings under the Syndicated Facility bore interest at a weighted average interest rate of 5.849% and 2.174% for the three months ended December 31, 2022 and 2021, respectively. For the three months ended December 31, 2022 and 2021, the Company recorded interest expense (inclusive of fees) of $10.0 million and $3.8 million, respectively, related to the Syndicated Facility. Citibank Facility On March 19, 2021, the Company became party to a revolving credit facility (as amended and/or restated from time to time, the “Citibank Facility”) with OCSL Senior Funding II LLC (formerly OCSI Senior Funding II LLC), the Company’s wholly-owned, special purpose financing subsidiary, as the borrower, the Company, as collateral manager and seller, each of the lenders from time to time party thereto, Citibank, N.A., as administrative agent, and Wells Fargo Bank, National Association, as collateral agent and custodian. As of December 31, 2022, the Company was able to borrow up to $200 million under the Citibank Facility (subject to borrowing base and other limitations). As of December 31, 2022, the reinvestment period under the Citibank Facility was scheduled to expire on November 18, 2023 and the maturity date for the Citibank Facility was November 18, 2024. As of December 31, 2022, borrowings under the Citibank Facility are subject to certain customary advance rates and accrue interest at a rate equal to LIBOR plus between 1.25% and 2.20% per annum on broadly syndicated loans, subject to observable market depth and pricing, and LIBOR plus 2.25% per annum on all other eligible loans during the reinvestment period. In addition, as of December 31, 2022, for the duration of the reinvestment period there is a non-usage fee payable of 0.50% per annum on the undrawn amount under the Citibank Facility. The minimum asset coverage ratio applicable to the Company under the Citibank Facility is 150% as determined in accordance with the requirements of the Investment Company Act. Borrowings under the Citibank Facility are secured by all of the assets of OCSL Senior Funding II LLC and all of the Company’s equity interests in OCSL Senior Funding II LLC. The Company may use the Citibank Facility to fund a portion of its loan origination activities and for general corporate purposes. Each loan origination under the Citibank Facility is subject to the satisfaction of certain conditions. As of December 31, 2022 and September 30, 2022, the Company had $165.0 million and $160.0 million outstanding under the Citibank Facility, respectively, which had a fair value of $165.0 million and $160.0 million, respectively. The Company's borrowings under the Citibank Facility bore interest at a weighted average interest rate of 6.508% and 1.830% for the three months ended December 31, 2022 and 2021, respectively. For the three months ended December 31, 2022 and 2021, the Company recorded interest expense (inclusive of fees) of $2.7 million and $0.8 million, respectively, related to the Citibank Facility. 2025 Notes On February 25, 2020, the Company issued $300.0 million in aggregate principal amount of the 2025 Notes for net proceeds of $293.8 million after deducting OID of $2.5 million, underwriting commissions and discounts of $3.0 million and offering costs of $0.7 million. The OID on the 2025 Notes is amortized based on the effective interest method over the term of the 2025 Notes. The 2025 Notes were issued pursuant to an indenture, dated April 30, 2012, as supplemented by the fifth supplemental indenture, dated February 25, 2020 (collectively, the "2025 Notes Indenture"), between the Company and Deutsche Bank Trust Company Americas (the "Trustee"). The 2025 Notes are the Company's general unsecured obligations that rank senior in right of payment to all of the Company's existing and future indebtedness that is expressly subordinated in right of payment to the 2025 Notes. The 2025 Notes rank equally in right of payment with all of the Company's existing and future liabilities that are not so subordinated. The 2025 Notes effectively rank junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The 2025 Notes rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities. Interest on the 2025 Notes is paid semi-annually on February 25 and August 25 at a rate of 3.500% per annum. The 2025 Notes mature on February 25, 2025 and may be redeemed in whole or in part at any time or from time to time at the Company's option prior to maturity at par plus a “make-whole” premium, if applicable. In addition, holders of the 2025 Notes can require the Company to repurchase the 2025 Notes at 100% of their principal amount upon the occurrence of certain change of control events as described in the 2025 Notes Indenture. The 2025 Notes were issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. During the three months ended December 31, 2022, the Company did not repurchase any of the 2025 Notes in the open market. The 2025 Notes Indenture contains certain covenants, including covenants requiring the Company's compliance with the asset coverage requirements set forth in Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act or any successor provisions (but giving effect to any exemptive relief granted to the Company by the U.S. Securities and Exchange Commission ("SEC")), as well as covenants requiring the Company to provide financial information to the holders of the 2025 Notes and the Trustee if the Company ceases to be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These covenants are subject to limitations and exceptions that are described in the 2025 Notes Indenture. 2027 Notes On May 18, 2021, the Company issued $350.0 million in aggregate principal amount of the 2027 Notes for net proceeds of $344.8 million after deducting OID of $1.0 million, underwriting commissions and discounts of $3.5 million and offering costs of $0.7 million. The OID on the 2027 Notes is amortized based on the effective interest method over the term of the 2027 Notes. The 2027 Notes were issued pursuant to an indenture, dated April 30, 2012, as supplemented by the sixth supplemental indenture, dated May 18, 2021 (collectively, the "2027 Notes Indenture"), between the Company and the Trustee. The 2027 Notes are the Company's general unsecured obligations that rank senior in right of payment to all of the Company's existing and future indebtedness that is expressly subordinated in right of payment to the 2027 Notes. The 2027 Notes rank equally in right of payment with all of the Company's existing and future liabilities that are not so subordinated. The 2027 Notes effectively rank junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The 2027 Notes rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities. Interest on the 2027 Notes is paid semi-annually on January 15 and July 15, beginning on January 15, 2022, at a rate of 2.700% per annum. The 2027 Notes mature on January 15, 2027 and may be redeemed in whole or in part at any time or from time to time at the Company's option prior to maturity at par plus a “make-whole” premium, if applicable. In addition, holders of the 2027 Notes can require the Company to repurchase the 2027 Notes at 100% of their principal amount upon the occurrence of certain change of control events as described in the 2027 Notes Indenture. The 2027 Notes were issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. During the three months ended December 31, 2022, the Company did not repurchase any of the 2027 Notes in the open market. The 2027 Notes Indenture contains certain covenants, including covenants requiring the Company's compliance with the asset coverage requirements set forth in Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act or any successor provisions (but giving effect to any exemptive relief granted to the Company by the SEC), as well as covenants requiring the Company to provide financial information to the holders of the 2027 Notes and the Trustee if the Company ceases to be subject to the reporting requirements of the Exchange Act. These covenants are subject to limitations and exceptions that are described in the 2027 Notes Indenture. In connection with the 2027 Notes, the Company entered into an interest rate swap to more closely align the interest rates of its liabilities with its investment portfolio, which consists of predominately floating rate loans. Under the interest rate swap agreement, the Company receives a fixed interest rate of 2.700% and pays a floating interest rate of the three-month LIBOR plus 1.658% on a notional amount of $350 million. The Company designated the interest rate swap as the hedging instrument in an effective hedge accounting relationship. See Note 12 for more information regarding the interest rate swap.
Syndicated Facility [Member]
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Long Term Debt, Title [Text Block]	Syndicated Facility
Long Term Debt, Structuring [Text Block]	On November 30, 2017, the Company entered into a senior secured revolving credit facility (as amended and restated, the “Syndicated Facility”) pursuant to a Senior Secured Revolving Credit Agreement with the lenders party thereto, ING Capital LLC, as administrative agent, ING Capital LLC, JPMorgan Chase Bank, N.A., BofA Securities, Inc. and MUFG Union Bank, N.A., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. and Bank of America, N.A., as syndication agents. The Syndicated Facility provides that the Company may use the proceeds of the loans and issuances of letters of credit under the Syndicated Facility for general corporate purposes, including acquiring and funding leveraged loans, mezzanine loans, high-yield securities, convertible securities, preferred stock, common stock and other investments. The Syndicated Facility further allows the Company to request letters of credit from ING Capital LLC, as the issuing bank. As of December 31, 2022, the size of the Syndicated Facility was $1.0 billion. In addition, pursuant to an "accordion" feature, the Company may increase the size of the facility to up to the greater of $1.25 billion and the Company's net worth, as defined in the facility, under certain circumstances. As of December 31, 2022, (i) the period during which the Company may make drawings will expire on May 4, 2025 and the maturity date is May 4, 2026 and (ii) the interest rate margin for (a) LIBOR loans (which may be 1-, 2-, 3- or 6-month, at the Company’s option) was 2.00% and (b) alternate base rate loans was 1.00%. The Syndicated Facility is secured by substantially all of the Company’s assets (excluding, among other things, investments held in and by certain subsidiaries of the Company (including OCSL Senior Funding II LLC) or investments in certain portfolio companies of the Company) and guaranteed by certain subsidiaries of the Company. As of December 31, 2022, except for assets that were held by OCSL Senior Funding II LLC and certain immaterial subsidiaries, substantially all of the Company's assets are pledged as collateral under the Syndicated Facility.
Long Term Debt, Dividends and Covenants [Text Block]	The Syndicated Facility requires the Company to, among other things, (i) make representations and warranties regarding the collateral as well as each of the Company’s portfolio companies’ businesses, (ii) agree to certain indemnification obligations, and (iii) comply with various affirmative and negative covenants, reporting requirements and other customary requirements for similar revolving credit facilities, including covenants related to: (A) limitations on the incurrence of additional indebtedness and liens, (B) limitations on certain investments, (C) limitations on certain asset transfers and restricted payments, (D) maintaining a certain minimum stockholders’ equity, (E) maintaining a ratio of total assets (less total liabilities) to total indebtedness, of the Company and its subsidiaries (subject to certain exceptions), of not less than 1.50 to 1.00, (F) maintaining a ratio of consolidated EBITDA to consolidated interest expense, of the Company and its subsidiaries (subject to certain exceptions), of not less than 2.25 to 1.00, (G) maintaining a minimum liquidity and net worth, and (H) limitations on the creation or existence of agreements that prohibit liens on certain properties of the Company and certain of its subsidiaries. The Syndicated Facility also includes usual and customary default provisions such as the failure to make timely payments under the facility, the occurrence of a change in control, and the failure by the Company to materially perform under the agreements governing the facility, which, if not complied with, could accelerate repayment under the facility. As of December 31, 2022, the Company was in compliance with all financial covenants under the Syndicated Facility. In addition to the asset coverage ratio described above, borrowings under the Syndicated Facility (and the incurrence of certain other permitted debt) are subject to compliance with a borrowing base that will apply different advance rates to different types of assets in the Company’s portfolio. Each loan or letter of credit originated or assumed under the Syndicated Facility is subject to the satisfaction of certain conditions.
Citibank Facility [Member]
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Long Term Debt, Title [Text Block]	Citibank Facility
Long Term Debt, Structuring [Text Block]	On March 19, 2021, the Company became party to a revolving credit facility (as amended and/or restated from time to time, the “Citibank Facility”) with OCSL Senior Funding II LLC (formerly OCSI Senior Funding II LLC), the Company’s wholly-owned, special purpose financing subsidiary, as the borrower, the Company, as collateral manager and seller, each of the lenders from time to time party thereto, Citibank, N.A., as administrative agent, and Wells Fargo Bank, National Association, as collateral agent and custodian. As of December 31, 2022, the Company was able to borrow up to $200 million under the Citibank Facility (subject to borrowing base and other limitations). As of December 31, 2022, the reinvestment period under the Citibank Facility was scheduled to expire on November 18, 2023 and the maturity date for the Citibank Facility was November 18, 2024.
Long Term Debt, Dividends and Covenants [Text Block]	As of December 31, 2022, borrowings under the Citibank Facility are subject to certain customary advance rates and accrue interest at a rate equal to LIBOR plus between 1.25% and 2.20% per annum on broadly syndicated loans, subject to observable market depth and pricing, and LIBOR plus 2.25% per annum on all other eligible loans during the reinvestment period. In addition, as of December 31, 2022, for the duration of the reinvestment period there is a non-usage fee payable of 0.50% per annum on the undrawn amount under the Citibank Facility. The minimum asset coverage ratio applicable to the Company under the Citibank Facility is 150% as determined in accordance with the requirements of the Investment Company Act. Borrowings under the Citibank Facility are secured by all of the assets of OCSL Senior Funding II LLC and all of the Company’s equity interests in OCSL Senior Funding II LLC. The Company may use the Citibank Facility to fund a portion of its loan origination activities and for general corporate purposes. Each loan origination under the Citibank Facility is subject to the satisfaction of certain conditions.
2025 Notes [Member]
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Long Term Debt, Title [Text Block]	2025 Notes
Long Term Debt, Structuring [Text Block]	On February 25, 2020, the Company issued $300.0 million in aggregate principal amount of the 2025 Notes for net proceeds of $293.8 million after deducting OID of $2.5 million, underwriting commissions and discounts of $3.0 million and offering costs of $0.7 million. The OID on the 2025 Notes is amortized based on the effective interest method over the term of the 2025 Notes. The 2025 Notes were issued pursuant to an indenture, dated April 30, 2012, as supplemented by the fifth supplemental indenture, dated February 25, 2020 (collectively, the "2025 Notes Indenture"), between the Company and Deutsche Bank Trust Company Americas (the "Trustee"). The 2025 Notes are the Company's general unsecured obligations that rank senior in right of payment to all of the Company's existing and future indebtedness that is expressly subordinated in right of payment to the 2025 Notes. The 2025 Notes rank equally in right of payment with all of the Company's existing and future liabilities that are not so subordinated. The 2025 Notes effectively rank junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The 2025 Notes rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities. Interest on the 2025 Notes is paid semi-annually on February 25 and August 25 at a rate of 3.500% per annum. The 2025 Notes mature on February 25, 2025 and may be redeemed in whole or in part at any time or from time to time at the Company's option prior to maturity at par plus a “make-whole” premium, if applicable. In addition, holders of the 2025 Notes can require the Company to repurchase the 2025 Notes at 100% of their principal amount upon the occurrence of certain change of control events as described in the 2025 Notes Indenture. The 2025 Notes were issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. During the three months ended December 31, 2022, the Company did not repurchase any of the 2025 Notes in the open market.
Long Term Debt, Dividends and Covenants [Text Block]	The 2025 Notes Indenture contains certain covenants, including covenants requiring the Company's compliance with the asset coverage requirements set forth in Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act or any successor provisions (but giving effect to any exemptive relief granted to the Company by the U.S. Securities and Exchange Commission ("SEC")), as well as covenants requiring the Company to provide financial information to the holders of the 2025 Notes and the Trustee if the Company ceases to be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These covenants are subject to limitations and exceptions that are described in the 2025 Notes Indenture.
2027 Notes [Member]
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Long Term Debt, Title [Text Block]	2027 Notes
Long Term Debt, Structuring [Text Block]	On May 18, 2021, the Company issued $350.0 million in aggregate principal amount of the 2027 Notes for net proceeds of $344.8 million after deducting OID of $1.0 million, underwriting commissions and discounts of $3.5 million and offering costs of $0.7 million. The OID on the 2027 Notes is amortized based on the effective interest method over the term of the 2027 Notes. The 2027 Notes were issued pursuant to an indenture, dated April 30, 2012, as supplemented by the sixth supplemental indenture, dated May 18, 2021 (collectively, the "2027 Notes Indenture"), between the Company and the Trustee. The 2027 Notes are the Company's general unsecured obligations that rank senior in right of payment to all of the Company's existing and future indebtedness that is expressly subordinated in right of payment to the 2027 Notes. The 2027 Notes rank equally in right of payment with all of the Company's existing and future liabilities that are not so subordinated. The 2027 Notes effectively rank junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The 2027 Notes rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities. Interest on the 2027 Notes is paid semi-annually on January 15 and July 15, beginning on January 15, 2022, at a rate of 2.700% per annum. The 2027 Notes mature on January 15, 2027 and may be redeemed in whole or in part at any time or from time to time at the Company's option prior to maturity at par plus a “make-whole” premium, if applicable. In addition, holders of the 2027 Notes can require the Company to repurchase the 2027 Notes at 100% of their principal amount upon the occurrence of certain change of control events as described in the 2027 Notes Indenture. The 2027 Notes were issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. During the three months ended December 31, 2022, the Company did not repurchase any of the 2027 Notes in the open market.
Long Term Debt, Dividends and Covenants [Text Block]	The 2027 Notes Indenture contains certain covenants, including covenants requiring the Company's compliance with the asset coverage requirements set forth in Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act or any successor provisions (but giving effect to any exemptive relief granted to the Company by the SEC), as well as covenants requiring the Company to provide financial information to the holders of the 2027 Notes and the Trustee if the Company ceases to be subject to the reporting requirements of the Exchange Act. These covenants are subject to limitations and exceptions that are described in the 2027 Notes Indenture.

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The Consolidated Financial Statements of the Company have been prepared in accordance with GAAP and pursuant to the requirements for reporting on Form 10-Q and Regulation S-X. In the opinion of management, all adjustments of a normal recurring nature considered necessary for the fair presentation of the Consolidated Financial Statements have been made. All intercompany balances and transactions have been eliminated. The Company is an investment company following the accounting and reporting guidance in ASC Topic 946, Financial Services - Investment Companies ("ASC 946"). Certain prior period amounts have been reclassified to conform to the current period presentation. All per share amounts and common shares outstanding as of and for the three months ended December 31, 2022 and all prior periods reflect the Company's 1-for-3 reverse stock split completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.
Use of Estimates	Use of Estimates: The preparation of the financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make certain estimates and assumptions affecting amounts reported in the financial statements and accompanying notes. These estimates are based on the information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Changes in the economic and political environments, financial markets and any other parameters used in determining these estimates could cause actual results to differ and such differences could be material. Significant estimates include the valuation of investments and revenue recognition.
Consolidation	Consolidation: The accompanying Consolidated Financial Statements include the accounts of Oaktree Specialty Lending Corporation and its consolidated subsidiaries. Each consolidated subsidiary is wholly-owned and, as such, consolidated into the Consolidated Financial Statements. Certain subsidiaries that hold investments are treated as pass through entities for U.S. federal income tax purposes. The assets of certain of the consolidated subsidiaries are not directly available to satisfy the claims of the creditors of Oaktree Specialty Lending Corporation or any of its other subsidiaries. As an investment company, portfolio investments held by the Company are not consolidated into the Consolidated Financial Statements but rather are included on the Statements of Assets and Liabilities as investments at fair value.
Fair Value Measurements	Fair Value Measurements: The Company values its investments in accordance with ASC 820, which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A liability's fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. ASC 820 prioritizes the use of observable market prices over entity-specific inputs. Where observable prices or inputs are not available or reliable, valuation techniques are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the investments or market and the investments' complexity. Hierarchical levels, defined by ASC 820 and directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities, are as follows: •Level 1 — Unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. •Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data at the measurement date for substantially the full term of the assets or liabilities. •Level 3 — Unobservable inputs that reflect Oaktree's best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. If inputs used to measure fair value fall into different levels of the fair value hierarchy, an investment's level is based on the lowest level of input that is significant to the fair value measurement. Oaktree's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. This includes investment securities that are valued using "bid" and "ask" prices obtained from independent third party pricing services or directly from brokers. These investments may be classified as Level 3 because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities or may require adjustments for investment-specific factors or restrictions. Financial instruments with readily available quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment inherent in measuring fair value. As such, Oaktree obtains and analyzes readily available market quotations provided by pricing vendors and brokers for all of the Company's investments for which quotations are available. In determining the fair value of a particular investment, pricing vendors and brokers use observable market information, including both binding and non-binding indicative quotations. Oaktree seeks to obtain at least two quotations for the subject or similar securities, typically from pricing vendors. If Oaktree is unable to obtain two quotes from pricing vendors, or if the prices obtained from pricing vendors are not within Oaktree's set threshold, Oaktree seeks to obtain a quote directly from a broker making a market for the asset. Oaktree evaluates the quotations provided by pricing vendors and brokers based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. Oaktree also performs back-testing of valuation information obtained from pricing vendors and brokers against actual prices received in transactions. In addition to ongoing monitoring and back-testing, Oaktree performs due diligence procedures over pricing vendors to understand their methodology and controls to support their use in the valuation process. Generally, Oaktree does not adjust any of the prices received from these sources. If the quotations obtained from pricing vendors or brokers are determined to not be reliable or are not readily available, Oaktree values such investments using any of three different valuation techniques. The first valuation technique is the transaction precedent technique, which utilizes recent or expected future transactions of the investment to determine fair value, to the extent applicable. The second valuation technique is an analysis of the enterprise value ("EV") of the portfolio company. EV means the entire value of the portfolio company to a market participant, including the sum of the values of debt and equity securities used to capitalize the enterprise at a point in time. The EV analysis is typically performed to determine (i) the value of equity investments, (ii) whether there is credit impairment for debt investments and (iii) the value for debt investments that the Company is deemed to control under the Investment Company Act. To estimate the EV of a portfolio company, Oaktree analyzes various factors, including the portfolio company’s historical and projected financial results, macroeconomic impacts on the company and competitive dynamics in the company’s industry. Oaktree also utilizes some or all of the following information based on the individual circumstances of the portfolio company: (i) valuations of comparable public companies, (ii) recent sales of private and public comparable companies in similar industries or having similar business or earnings characteristics, (iii) purchase prices as a multiple of their earnings or cash flow, (iv) the portfolio company’s ability to meet its forecasts and its business prospects, (v) a discounted cash flow analysis, (vi) estimated liquidation or collateral value of the portfolio company's assets and (vii) offers from third parties to buy the portfolio company. Oaktree may probability weight potential sale outcomes with respect to a portfolio company when uncertainty exists as of the valuation date. The third valuation technique is a market yield technique, which is typically performed for non-credit impaired debt investments. In the market yield technique, a current price is imputed for the investment based upon an assessment of the expected market yield for a similarly structured investment with a similar level of risk, and Oaktree considers the current contractual interest rate, the capital structure and other terms of the investment relative to risk of the company and the specific investment. A key determinant of risk, among other things, is the leverage through the investment relative to the EV of the portfolio company. As debt investments held by the Company are substantially illiquid with no active transaction market, Oaktree depends on primary market data, including newly funded transactions and industry specific market movements, as well as secondary market data with respect to high yield debt instruments and syndicated loans, as inputs in determining the appropriate market yield, as applicable. In accordance with ASC 820-10, certain investments that qualify as investment companies in accordance with ASC 946 may be valued using net asset value as a practical expedient for fair value. Consistent with FASB guidance under ASC 820, these investments are excluded from the hierarchical levels. These investments are generally not redeemable. Oaktree estimates the fair value of certain privately held warrants using a Black Scholes pricing model, which includes an analysis of various factors and subjective assumptions, including the current stock price (by using an EV analysis as described above), the expected period until exercise, expected volatility of the underlying stock price, expected dividends and the risk free rate. Changes in the subjective input assumptions can materially affect the fair value estimates. Rule 2a-5 under the Investment Company Act permits boards of directors of registered investment companies and Business Development Companies to either (i) choose to determine fair value in good faith or (ii) designate a valuation designee tasked with determining fair value in good faith, subject to the board’s oversight. The Company's Board of Directors has designated Oaktree to serve as its valuation designee effective September 8, 2022. Oaktree undertakes a multi-step valuation process each quarter in connection with determining the fair value of the Company's investments: •The quarterly valuation process begins with each portfolio company or investment being initially valued by Oaktree's valuation team; •Preliminary valuations are then reviewed and discussed with management of Oaktree; •Separately, independent valuation firms prepare valuations of the Company's investments, on a selected basis, for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of the investment, and submit the reports to the Company and provide such reports to Oaktree; •Oaktree compares and contrasts its preliminary valuations to the valuations of the independent valuation firms and prepares a valuation report for the Audit Committee; •The Audit Committee reviews the valuation report with Oaktree, and Oaktree responds and supplements the valuation report to reflect any discussions between Oaktree and the Audit Committee; and •Oaktree, as valuation designee, determines the fair value of each investment in the Company's portfolio. The fair value of the Company's investments as of December 31, 2022 and September 30, 2022 was determined by Oaktree, as the Company's valuation designee. The Company has and will continue to engage independent valuation firms to provide assistance regarding the determination of the fair value of a portion of its portfolio securities for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of the investment each quarter. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Because of the inherent uncertainty of valuation, these estimated values may differ significantly from the values that would have been reported had a ready market for the investments existed, and it is reasonably possible that the difference could be material. With the exception of the line items entitled "deferred financing costs," "deferred offering costs," "other assets," "deferred tax asset, net," "credit facilities payable" and "unsecured notes payable," which are reported at amortized cost, all assets and liabilities approximate fair value on the Consolidated Statements of Assets and Liabilities. The carrying value of the line items titled "interest, dividends and fees receivable," "due from portfolio companies," "receivables from unsettled transactions," "due from broker," "accounts payable, accrued expenses and other liabilities," "base management fee and incentive fee payable," "due to affiliate," "interest payable" and "payables from unsettled transactions" approximate fair value due to their short maturities.
Foreign Currency Translation	Foreign Currency Translation: The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the prevailing foreign exchange rate on the reporting date. The Company does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. The Company’s investments in foreign securities may involve certain risks, including foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company.
Derivative Instruments	Derivative Instruments: Foreign Currency Forward Contracts The Company uses foreign currency forward contracts to reduce the Company's exposure to fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Company agrees to receive or deliver a fixed quantity of one currency for another at a pre-determined price at a future date. Foreign currency forward contracts are marked-to-market at the applicable forward rate. Unrealized appreciation (depreciation) on foreign currency forward contracts is recorded within derivative assets or derivative liabilities on the Consolidated Statements of Assets and Liabilities by counterparty on a net basis, not taking into account collateral posted which is recorded separately, if applicable. Purchases and settlements of foreign currency forward contracts having the same settlement date and counterparty are generally settled net and any realized gains or losses are recognized on the settlement date. The Company does not utilize hedge accounting with respect to foreign currency forward contracts and as such, the Company recognizes its foreign currency forward contracts at fair value with changes included in the net unrealized appreciation (depreciation) on the Consolidated Statements of Operations. Interest Rate Swaps The Company uses an interest rate swap to hedge some of the Company's fixed rate debt. The Company designated the interest rate swap as the hedging instrument in an effective hedge accounting relationship, and therefore the periodic payments are recognized as components of interest expense in the Consolidated Statements of Operations. Depending on the nature of the balance at period end, the fair value of the interest rate swap is either included as a derivative asset or derivative liability on the Company's Consolidated Statements of Assets and Liabilities. The change in fair value of the interest rate swap is offset by a change in the carrying value of the fixed rate debt. Any amounts paid to the counterparty to cover collateral obligations under the terms of the interest rate swap agreement are included in due from broker on the Company's Consolidated Statements of Assets and Liabilities.
Investment Income	Investment Income: Interest Income Interest income, adjusted for accretion of original issue discount ("OID"), is recorded on an accrual basis to the extent that such amounts are expected to be collected. The Company stops accruing interest on investments when it is determined that interest is no longer collectible. Investments that are expected to pay regularly scheduled interest in cash are generally placed on non-accrual status when there is reasonable doubt that principal or interest cash payments will be collected. Cash interest payments received on investments may be recognized as income or a return of capital depending upon management’s judgment. A non-accrual investment is restored to accrual status if past due principal and interest are paid in cash and the portfolio company, in management’s judgment, is likely to continue timely payment of its remaining obligations. As of each of December 31, 2022 and September 30, 2022, there were no investments on non-accrual status. In connection with its investment in a portfolio company, the Company sometimes receives nominal cost equity that is valued as part of the negotiation process with the portfolio company. When the Company receives nominal cost equity, the Company allocates its cost basis in the investment between debt securities and the nominal cost equity at the time of origination. Any resulting discount from recording the loan, or otherwise purchasing a security at a discount, is accreted into interest income over the life of the loan. PIK Interest Income The Company's investments in debt securities may contain PIK interest provisions. PIK interest, which generally represents contractually deferred interest added to the loan balance that is generally due at the end of the loan term, is generally recorded on the accrual basis to the extent such amounts are expected to be collected. The Company generally ceases accruing PIK interest if there is insufficient value to support the accrual or if the Company does not expect the portfolio company to be able to pay all principal and interest due. The Company's decision to cease accruing PIK interest on a loan or debt security involves subjective judgments and determinations based on available information about a particular portfolio company, including whether the portfolio company is current with respect to its payment of principal and interest on its loans and debt securities; financial statements and financial projections for the portfolio company; the Company's assessment of the portfolio company's business development success; information obtained by the Company in connection with periodic formal update interviews with the portfolio company's management and, if appropriate, the private equity sponsor; and information about the general economic and market conditions in which the portfolio company operates. The Company's determination to cease accruing PIK interest is generally made well before the Company's full write-down of a loan or debt security. In addition, if it is subsequently determined that the Company will not be able to collect any previously accrued PIK interest, the fair value of the loans or debt securities would be reduced by the amount of such previously accrued, but uncollectible, PIK interest. The accrual of PIK interest on the Company’s debt investments increases the recorded cost bases of these investments in the Consolidated Financial Statements including for purposes of computing the capital gains incentive fee payable by the Company to Oaktree. To maintain its status as a RIC, certain income from PIK interest may be required to be distributed to the Company’s stockholders, even though the Company has not yet collected the cash and may never do so. Fee Income Oaktree or its affiliates may provide financial advisory services to portfolio companies and, in return, the Company may receive fees for capital structuring services. These fees are generally non-recurring and are recognized by the Company upon the investment closing date. The Company may also receive additional fees in the ordinary course of business, including servicing, amendment and prepayment fees, which are classified as fee income and recognized as they are earned or the services are rendered. The Company has also structured exit fees across certain of its portfolio investments to be received upon the future exit of those investments. These fees are typically paid to the Company upon the earliest to occur of (i) a sale of the borrower or substantially all of the assets of the borrower, (ii) the maturity date of the loan or (iii) the date when full prepayment of the loan occurs. The receipt of such fees is contingent upon the occurrence of one of the events listed above for each of the investments. These fees are included in net investment income over the life of the loan. Dividend Income The Company generally recognizes dividend income on the ex-dividend date for public securities and the record date for private equity investments. Distributions received from private equity investments are evaluated to determine if the distribution should be recorded as dividend income or a return of capital. Generally, the Company will not record distributions from private equity investments as dividend income unless there are sufficient earnings at the portfolio company prior to the distribution. Distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash: Cash and cash equivalents consist of demand deposits and highly liquid investments with maturities of three months or less when acquired. The Company places its cash and cash equivalents and restricted cash with financial institutions and, at times, cash held in bank accounts may exceed the Federal Deposit Insurance Corporation ("FDIC") insurance limit. Cash and cash equivalents are included on the Company's Consolidated Schedule of Investments and cash equivalents are classified as Level 1 assets.
Due From Portfolio Companies	Due from Portfolio Companies: Due from portfolio companies consists of amounts payable to the Company from its portfolio companies, including proceeds from the sale of portfolio companies not yet received or being held in escrow and excluding those amounts attributable to interest, dividends or fees receivable. These amounts are recognized as they become payable to the Company (e.g., principal payments on the scheduled amortization payment date).
Receivables/Payables from Unsettled Transactions	Receivables/Payables from Unsettled Transactions: Receivables/payables from unsettled transactions consist of amounts receivable to or payable by the Company for transactions that have not settled at the reporting date.
Deferred Financing Costs	Deferred Financing Costs: Deferred financing costs consist of fees and expenses paid in connection with the closing or amending of credit facilities and debt offerings. Deferred financing costs in connection with credit facilities are capitalized as an asset when incurred. Deferred financing costs in connection with all other debt arrangements are a direct deduction from the related debt liability when incurred. Deferred financing costs are amortized using the effective interest method over the term of the respective debt arrangement. This amortization expense is included in interest expense in the Company's Consolidated Statements of Operations. Upon early termination or modification of a credit facility, all or a portion of unamortized fees related to such facility may be accelerated into interest expense. For extinguishments of the Company’s unsecured notes payable, any unamortized deferred financing costs are deducted from the carrying amount of the debt in determining the gain or loss from the extinguishment.
Deferred Offering Costs	Deferred Offering Costs: Legal fees and other costs incurred in connection with the Company’s shelf registration statement are capitalized as deferred offering costs in the Consolidated Statements of Assets and Liabilities. To the extent any such costs relate to equity offerings, these costs are charged as a reduction of capital upon utilization. To the extent any such costs relate to debt offerings, these costs are treated as deferred financing costs and are amortized over the term of the respective debt arrangement. Any deferred offering costs that remain at the expiration of the shelf registration statement or when it becomes probable that an offering will not be completed are expensed.
Income Taxes	Income Taxes: The Company has elected to be subject to tax as a RIC under Subchapter M of the Code and operates in a manner so as to qualify for the tax treatment applicable to RICs. In order to be subject to tax as a RIC, among other things, the Company is required to meet certain source of income and asset diversification requirements and timely distribute dividends to its stockholders of an amount generally at least equal to 90% of investment company taxable income, as defined by the Code and determined without regard to any deduction for dividends paid, for each taxable year. As a RIC, the Company is not subject to U.S. federal income tax on the portion of its taxable income and gains distributed currently to stockholders as a dividend. Depending on the level of taxable income earned during a taxable year, the Company may choose to retain taxable income in excess of current year dividend distributions and would distribute such taxable income in the next taxable year. The Company would then incur a 4% excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income, determined on a calendar year basis, could exceed estimated current calendar year dividend distributions, the Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. The Company anticipates timely distribution of its taxable income within the tax rules under Subchapter M of the Code. The Company did not incur a U.S. federal excise tax for calendar year 2021. For the calendar year 2022, the Company incurred $0.1 million of excise tax. The Company does not expect to incur a U.S. federal excise tax for calendar year 2023. The Company holds certain portfolio investments through taxable subsidiaries. The purpose of the Company's taxable subsidiaries is to permit the Company to hold equity investments in portfolio companies which are "pass through" entities for U.S. federal income tax purposes in order to comply with the RIC tax requirements. The taxable subsidiaries are consolidated for financial reporting purposes, and portfolio investments held by them are included in the Company’s Consolidated Financial Statements as portfolio investments and recorded at fair value. The taxable subsidiaries are not consolidated with the Company for U.S. federal income tax purposes and may generate income tax expense, or benefit, and the related tax assets and liabilities, as a result of their ownership of certain portfolio investments. This income tax expense, if any, would be reflected in the Company's Consolidated Statements of Operations. The Company uses the liability method to account for its taxable subsidiaries' income taxes. Using this method, the Company recognizes deferred tax assets and liabilities for the estimated future tax effects attributable to temporary differences between financial reporting and tax bases of assets and liabilities. In addition, the Company recognizes deferred tax benefits associated with net operating loss carry forwards that it may use to offset future tax obligations. The Company measures deferred tax assets and liabilities using the enacted tax rates expected to apply to taxable income in the years in which it expects to recover or settle those temporary differences. FASB ASC Topic 740, Accounting for Uncertainty in Income Taxes ("ASC 740"), provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the Company's Consolidated Financial Statements. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current year. Management's determinations regarding ASC 740 may be subject to review and adjustment at a later date based upon factors including an ongoing analysis of tax laws, regulations and interpretations thereof. The Company recognizes the tax benefits of uncertain tax positions only where the position is "more-likely-than-not" to be sustained assuming examination by tax authorities. Management has analyzed the Company's tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years 2019, 2020 and 2021. The Company identifies its major tax jurisdictions as U.S. Federal and California, and the Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting PronouncementsIn March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting if certain criteria are met. The guidance is effective from March 12, 2020 through December 31, 2022. As of December 31, 2022, the adoption of this guidance did not have an impact on the Company's Consolidated Financial Statements

Portfolio Investments (Tables)

3 Months Ended

Dec. 31, 2022

Schedule of Investments [Abstract]

Investment Holdings, Schedule of Investments

The composition of the Company's investments as of December 31, 2022 and September 30, 2022 at cost and fair value was as follows:


	December 31, 2022				September 30, 2022
	Cost		Fair Value		Cost		Fair Value
Investments in debt securities	$	2,428,251	$	2,343,380	$	2,294,392	$	2,223,329
Investments in equity securities	132,355		113,190		127,596		103,534
Debt investments in the JVs	162,617		162,192		146,444		146,533
Equity investments in the JVs	54,791		24,108		49,322		20,715
Total	$	2,778,014	$	2,642,870	$	2,617,754	$	2,494,111

The following table presents the composition of the Company's debt investments as of December 31, 2022 and September 30, 2022 at fixed rates and floating rates:


	December 31, 2022				September 30, 2022
	Fair Value		% of Debt Portfolio		Fair Value		% of Debt Portfolio
Floating rate debt securities, including the debt investments in the JVs	$	2,188,193	87.33	%	$	2,049,644	86.49	%
Fixed rate debt securities	317,379		12.67		320,218		13.51
Total	$	2,505,572	100.00	%	$	2,369,862	100.00	%


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Application Software	$	435,165	15.66	%	$	391,938	14.98	%
Multi-Sector Holdings (1)	229,676		8.27		195,766		7.48
Pharmaceuticals	131,307		4.73		126,508		4.83
Data Processing & Outsourced Services	118,058		4.25		120,477		4.60
Biotechnology	111,745		4.02		109,960		4.20
Health Care Technology	110,251		3.97		100,084		3.82
Specialized Finance	87,523		3.15		80,864		3.09
Industrial Machinery	81,483		2.93		81,787		3.12
Health Care Services	65,732		2.37		58,674		2.24
Internet & Direct Marketing Retail	65,585		2.36		67,926		2.59
Aerospace & Defense	61,993		2.23		61,963		2.37
Construction & Engineering	60,828		2.19		60,996		2.33
Health Care Distributors	58,320		2.10		57,112		2.18
Other Diversified Financial Services	57,241		2.06		29,300		1.12
Personal Products	53,190		1.91		53,214		2.03
Automotive Retail	51,663		1.86		59,254		2.26
Auto Parts & Equipment	51,067		1.84		12,474		0.48
Real Estate Operating Companies	49,980		1.80		47,585		1.82
Fertilizers & Agricultural Chemicals	49,271		1.77		49,301		1.88
Internet Services & Infrastructure	49,271		1.77		54,095		2.07
Metal & Glass Containers	47,128		1.70		47,704		1.82
Home Improvement Retail	45,266		1.63		45,802		1.75
Soft Drinks	43,935		1.58		34,272		1.31
Airport Services	43,748		1.57		43,322		1.65
Leisure Facilities	41,182		1.48		39,768		1.52
Insurance Brokers	39,268		1.41		35,628		1.36
Diversified Support Services	38,167		1.37		37,992		1.45
Specialty Chemicals	37,298		1.34		37,319		1.43
Health Care Supplies	36,693		1.32		36,471		1.39
Real Estate Services	36,233		1.30		40,243		1.54
Integrated Telecommunication Services	34,635		1.25		34,628		1.32
Electrical Components & Equipment	33,813		1.22		33,814		1.29
Advertising	27,507		0.99		28,245		1.08
Movies & Entertainment	26,202		0.94		26,161		1.00
Distributors	25,262		0.91		25,278		0.97
Airlines	24,034		0.87		—		—
Health Care Equipment	21,838		0.79		24,353		0.93
Environmental & Facilities Services	21,156		0.76		20,857		0.80
Oil & Gas Storage & Transportation	19,934		0.72		22,290		0.85
Home Furnishings	19,554		0.70		19,550		0.75
Systems Software	14,895		0.54		14,890		0.57
Consumer Finance	14,503		0.52		14,492		0.55
Hotels, Resorts & Cruise Lines	13,943		0.50		13,960		0.53
IT Consulting & Other Services	11,684		0.42		11,697		0.45
Restaurants	9,343		0.34		9,338		0.36
Education Services	9,070		0.33		9,080		0.35
Cable & Satellite	8,012		0.29		20,716		0.79
Research & Consulting Services	7,848		0.28		9,187		0.35
Apparel, Accessories & Luxury Goods	5,165		0.19		5,165		0.20
Air Freight & Logistics	4,925		0.18		7,295		0.28
Integrated Oil & Gas	4,873		0.18		4,866		0.19
Apparel Retail	4,727		0.17		5,268		0.20
Food Distributors	4,655		0.17		4,646		0.18
Specialized REITs	4,334		0.16		4,318		0.16
Real Estate Development	4,278		0.15		—		—
Diversified Banks	3,515		0.13		3,515		0.13
Technology Distributors	3,163		0.11		3,163		0.12
Construction Materials	2,353		0.08		2,331		0.09
Housewares & Specialties	2,217		0.08		2,293		0.09
Electronic Components	2,095		0.08		2,092		0.08
Alternative Carriers	214		0.01		212		0.01
Oil & Gas Refining & Marketing	—		—		8,627		0.33
Trading Companies & Distributors	—		—		7,628		0.29
	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Application Software	$	422,862	15.95	%	35.18	%	$	384,589	15.43	%	30.87	%
Multi-Sector Holdings (1)	198,904		7.53		16.55		167,248		6.71		13.43
Pharmaceuticals	127,414		4.82		10.60		119,511		4.79		9.59
Biotechnology	115,489		4.37		9.61		108,465		4.35		8.71
Data Processing & Outsourced Services	106,224		4.02		8.84		111,335		4.46		8.94
Health Care Technology	103,479		3.92		8.61		97,315		3.90		7.81
Industrial Machinery	79,791		3.02		6.64		81,008		3.25		6.50
Specialized Finance	79,751		3.02		6.63		73,087		2.93		5.87
Internet & Direct Marketing Retail	66,001		2.50		5.49		70,419		2.82		5.65
Aerospace & Defense	61,490		2.33		5.12		61,881		2.48		4.97
Construction & Engineering	60,938		2.31		5.07		61,188		2.45		4.91
Health Care Distributors	54,898		2.08		4.57		54,662		2.19		4.39
Other Diversified Financial Services	54,080		2.05		4.50		24,326		0.98		1.95
Fertilizers & Agricultural Chemicals	52,292		1.98		4.35		51,972		2.08		4.17
Health Care Services	51,260		1.94		4.26		45,943		1.84		3.69
Automotive Retail	50,681		1.92		4.22		57,629		2.31		4.63
Real Estate Operating Companies	50,127		1.90		4.17		48,062		1.93		3.86
Auto Parts & Equipment	50,015		1.89		4.16		11,469		0.46		0.92
Internet Services & Infrastructure	48,973		1.85		4.07		53,797		2.16		4.32
Personal Products	48,903		1.85		4.07		50,150		2.01		4.03
Home Improvement Retail	45,127		1.71		3.75		45,421		1.82		3.65
Metal & Glass Containers	44,763		1.69		3.72		47,599		1.91		3.82
Soft Drinks	44,387		1.68		3.69		33,670		1.35		2.70
Airport Services	43,267		1.64		3.60		42,883		1.72		3.44
Leisure Facilities	40,578		1.54		3.38		39,258		1.57		3.15
Insurance Brokers	39,057		1.48		3.25		33,081		1.33		2.66
Health Care Supplies	37,776		1.43		3.14		36,577		1.47		2.94
Diversified Support Services	35,626		1.35		2.96		36,712		1.47		2.95
Real Estate Services	35,621		1.35		2.96		39,573		1.59		3.18
Electrical Components & Equipment	32,970		1.25		2.74		32,933		1.32		2.64
Integrated Telecommunication Services	32,041		1.21		2.67		32,201		1.29		2.59
Specialty Chemicals	31,476		1.19		2.62		33,969		1.36		2.73
Movies & Entertainment	26,470		1.00		2.20		26,645		1.07		2.14
Advertising	26,022		0.98		2.16		26,948		1.08		2.16
Airlines	25,864		0.98		2.15		—		—		—
Distributors	24,569		0.93		2.04		24,494		0.98		1.97
Health Care Equipment	22,703		0.86		1.89		24,161		0.97		1.94
Environmental & Facilities Services	20,675		0.78		1.72		20,585		0.83		1.65
Oil & Gas Storage & Transportation	18,113		0.69		1.51		20,853		0.84		1.67
Home Furnishings	17,917		0.68		1.49		18,188		0.73		1.46
Hotels, Resorts & Cruise Lines	13,904		0.53		1.16		13,985		0.56		1.12
Systems Software	12,104		0.46		1.01		12,834		0.51		1.03
Consumer Finance	11,439		0.43		0.95		13,284		0.53		1.07
Education Services	8,938		0.34		0.74		8,582		0.34		0.69
Restaurants	8,610		0.33		0.72		8,692		0.35		0.70
Cable & Satellite	7,968		0.30		0.66		19,576		0.78		1.57
Research & Consulting Services	7,165		0.27		0.60		8,573		0.34		0.69
IT Consulting & Other Services	6,963		0.26		0.58		8,596		0.34		0.69
Integrated Oil & Gas	4,847		0.18		0.40		4,872		0.20		0.39
Apparel Retail	4,675		0.18		0.39		5,223		0.21		0.42
Real Estate Development	4,267		0.16		0.35		—		—		—
Air Freight & Logistics	4,191		0.16		0.35		6,405		0.26		0.51
Food Distributors	3,599		0.14		0.30		3,367		0.13		0.27
Diversified Banks	3,315		0.13		0.28		3,402		0.14		0.27
Specialized REITs	3,230		0.12		0.27		3,264		0.13		0.26
Technology Distributors	2,971		0.11		0.25		2,997		0.12		0.24
Housewares & Specialties	2,265		0.09		0.19		2,456		0.10		0.20
Construction Materials	1,928		0.07		0.16		1,934		0.08		0.16
Electronic Components	1,712		0.06		0.14		1,890		0.08		0.15
Alternative Carriers	185		0.01		0.02		201		0.01		0.02
Oil & Gas Refining & Marketing	—		—		—		8,604		0.34		0.69
Trading Companies & Distributors	—		—		—		5,567		0.22		0.45
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%

SLF JV I Portfolio as of December 31, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Access CIG, LLC	First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025	7.82	%	Diversified Support Services	$	10,067	$	10,008	$	9,883
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	11.34	%	Construction & Engineering	8,413		8,296		8,267		(4)
Altice France S.A.	First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026	8.65	%	Integrated Telecommunication Services	2,992		2,844		2,791
Alvogen Pharma US, Inc.	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	12.23	%	Pharmaceuticals	9,150		9,060		9,104		(4)
American Rock Salt Company LLC	First Lien Term Loan, LIBOR+4.00% cash due 6/9/2028	8.38	%	Diversified Metals & Mining	1,995		1,836		1,883
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	10.61	%	Distributors	4,860		4,800		4,471		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	8.98	%	Movies & Entertainment	7,780		7,702		7,501		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	8.48	%	Personal Products	1,535		1,200		1,149		(4)
Apptio, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 1/10/2025	9.94	%	Application Software	4,615		4,584		4,523		(4)
Apptio, Inc.	First Lien Revolver, LIBOR+6.00% cash due 1/10/2025	9.94	%	Application Software	231		228		223		(4)(5)
Total Apptio, Inc.					4,846		4,812		4,746
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	10.38	%	Paper Packaging	4,166		4,097		4,012
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027			Paper Packaging	—		(8)		(18)		(5)
Total ASP-R-PAC Acquisition Co LLC					4,166		4,089		3,994
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	9.63	%	Application Software	5,052		4,866		4,484		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	8.68	%	Property & Casualty Insurance	4,988		4,752		4,463
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	9.63	%	Property & Casualty Insurance	4,346		3,995		3,404
Total Asurion, LLC					9,334		8,747		7,867
athenahealth Group Inc.	First Lien Term Loan, SOFR+3.50% cash due 2/15/2029	7.82	%	Health Care Technology	2,558		2,353		2,316
athenahealth Group Inc.	First Lien Delayed Draw Term Loan, SOFR+3.50% cash due 2/15/2029	7.82	%	Health Care Technology	109		74		68		(5)
Total athenahealth Group Inc.					2,667		2,427		2,384
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	10.32	%	Airport Services	6,321		6,232		6,012		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	9.07	%	Health Care Services	6,354		6,295		6,176
BAART Programs, Inc.	First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027	9.73	%	Health Care Services	1,767		1,747		1,682		(4)(5)
Total BAART Programs, Inc.					8,121		8,042		7,858
Blackhawk Network Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025	7.08	%	Data Processing & Outsourced Services	9,550		9,542		9,331
Boxer Parent Company Inc.	First Lien Term Loan, LIBOR+3.75% cash due 10/2/2025	8.13	%	Systems Software	1,994		1,917		1,914
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	10.70	%	Application Software	7,425		7,335		5,988
C5 Technology Holdings, LLC	171 Common Units			Data Processing & Outsourced Services			—		—		(4)
C5 Technology Holdings, LLC	7,193,539.63 Preferred Units			Data Processing & Outsourced Services			7,194		5,683		(4)
Total C5 Technology Holdings, LLC							7,194		5,683
Cengage Learning, Inc.	First Lien Term Loan, LIBOR+4.75% cash due 7/14/2026	7.81	%	Education Services	2,992		2,734		2,698


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Centerline Communications, LLC	First Lien Term Loan, SOFR+5.50% cash due 8/10/2023	10.43	%	Wireless Telecommunication Services	$	6,345	$	6,242	$	6,231
Centerline Communications, LLC	First Lien Revolver, SOFR+5.50% cash due 8/10/2027			Wireless Telecommunication Services	—		(10)		(10)		(5)
Total Centerline Communications, LLC					6,345		6,232		6,221
Convergeone Holdings, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026	9.38	%	IT Consulting & Other Services	7,354		7,200		4,309		(4)
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	9.58	%	Health Care Distributors	5,375		5,053		5,050		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	8.73	%	Biotechnology	7,800		7,726		7,644
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.25% cash due 12/2/2027	8.98	%	Biotechnology	997		978		975
Total Curium Bidco S.à.r.l.					8,797		8,704		8,619
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	9.38	%	Cable & Satellite	6,277		6,178		6,124		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	9.79	%	Paper Products	4,090		4,055		3,926
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	8.84	%	Research & Consulting Services	7,980		7,835		7,372		(4)
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	8.88	%	Application Software	7,811		7,681		6,915
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	9.13	%	Leisure Products	7,425		7,351		5,495
Global Medical Response, Inc.	First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025	8.42	%	Health Care Services	1,260		1,246		891
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	9.67	%	Education Services	7,980		7,764		7,613		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, SOFR+5.25% cash due 6/30/2026	10.09	%	Pharmaceuticals	7,388		7,282		7,277
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	10.48	%	Personal Products	9,375		9,172		8,016		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	8.94	%	Metal & Glass Containers	4,988		4,630		4,548
LABL, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 10/29/2028	9.38	%	Office Services & Supplies	2,992		2,858		2,848
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	9.76	%	Health Care Services	7,425		7,306		7,295
Lightbox Intermediate, L.P.	First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026	9.73	%	Real Estate Services	11,337		11,152		10,941		(4)
LogMeIn, Inc.	First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027	9.14	%	Application Software	7,840		7,736		5,080
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025	7.88	%	Electronic Components	7,347		7,270		7,050
McAfee Corp.	First Lien Term Loan, SOFR+3.75% cash due 3/1/2029	7.97	%	Systems Software	1,995		1,876		1,862
Mindbody, Inc.	First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025	11.72	%	Internet Services & Infrastructure	4,668		4,636		4,566		(4)
Mindbody, Inc.	First Lien Revolver, LIBOR+8.00% cash due 2/14/2025			Internet Services & Infrastructure	—		(3)		(10)		(4)(5)
Total Mindbody, Inc.					4,668		4,633		4,556
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	10.23	%	Application Software	10,611		10,416		10,227		(4)
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026			Application Software	—		(3)		(12)		(4)(5)
Total MRI Software LLC					10,611		10,413		10,215
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025	9.23	%	Electrical Components & Equipment	6,668		6,657		6,467
OEConnection LLC	First Lien Term Loan, SOFR+4.00% cash due 9/25/2026	8.42	%	Application Software	7,757		7,721		7,411		(4)


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Park Place Technologies, LLC	First Lien Term Loan, SOFR+5.00% cash due 11/10/2027	9.42	%	Internet Services & Infrastructure	$	9,900	$	9,504	$	9,362	(4)
Planview Parent, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 12/17/2027	8.73	%	Application Software	2,435		2,294		2,274
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	11.98	%	Application Software	4,503		4,435		4,041		(4)
Total Planview Parent, Inc.					6,938		6,729		6,315
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	11.83	%	Application Software	6,796		6,698		6,626		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027			Application Software	212		206		201		(4)(5)
Total Pluralsight, LLC					7,008		6,904		6,827
RevSpring, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 10/11/2025	8.73	%	Commercial Printing	9,600		9,583		9,288
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	9.66	%	Footwear	8,179		8,173		6,339
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	9.64	%	Footwear	138		138		120
Total SHO Holding I Corporation					8,317		8,311		6,459
Sorenson Communications, LLC	First Lien Term Loan, LIBOR+5.50% cash due 3/17/2026	10.23	%	Communications Equipment	2,478		2,454		2,374
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	9.64	%	Apparel Retail	8,910		8,760		8,699		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	8.92	%	Industrial Machinery	10,075		9,610		9,436		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	8.48	%	Application Software	7,723		7,482		6,688		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	8.05	%	Health Care Facilities	3,044		3,034		3,014
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	9.18	%	Application Software	6,256		5,712		5,602		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	10.38	%	Health Care Supplies	7,267		7,142		7,104		(4)
Veritas US Inc.	First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025	9.73	%	Application Software	6,354		6,286		4,515
Windstream Services II, LLC	First Lien Term Loan, SOFR+6.25% cash due 9/21/2027	10.67	%	Integrated Telecommunication Services	7,798		7,587		7,092		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	12.17	%	Aerospace & Defense	6,000		5,974		5,055		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	8.17	%	Aerospace & Defense	1,980		1,913		1,732		(4)
Total WP CPP Holdings, LLC					7,980		7,887		6,787
Zayo Group Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 3/9/2027	7.38	%	Alternative Carriers	2,155		2,009		1,756
Total Portfolio Investments					$	382,148	$	380,682	$	355,427

_________

(1) Represents the interest rate as of December 31, 2022. All interest rates are payable in cash, unless otherwise noted.

(4) This investment was held by both the Company and SLF JV I as of December 31, 2022.

SLF JV I Portfolio as of September 30, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Access CIG, LLC	First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025	6.82	%	Diversified Support Services	$	10,093	$	10,028	$	9,692
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	9.80	%	Construction & Engineering	8,518		8,389		8,371		(4)
Altice France S.A.	First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026	6.91	%	Integrated Telecommunication Services	3,000		2,841		2,730
Alvogen Pharma US, Inc.	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	11.20	%	Pharmaceuticals	9,267		9,166		9,221		(4)
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	9.03	%	Distributors	4,873		4,812		4,576		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	7.92	%	Movies & Entertainment	7,800		7,722		7,527		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	7.42	%	Personal Products	1,539		1,203		1,232		(4)
Apptio, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 1/10/2025	8.46	%	Application Software	4,615		4,580		4,519		(4)
Apptio, Inc.	First Lien Revolver, LIBOR+6.00% cash due 1/10/2025	8.46	%	Application Software	154		151		146		(4)(5)
Total Apptio, Inc.					4,769		4,731		4,665
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	9.67	%	Paper Packaging	4,176		4,103		4,080
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027			Paper Packaging	—		(9)		(11)		(5)
Total ASP-R-PAC Acquisition Co LLC					4,176		4,094		4,069
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	8.37	%	Application Software	5,052		4,858		4,319		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	7.70	%	Property & Casualty Insurance	5,000		4,753		4,276
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	8.37	%	Property & Casualty Insurance	4,346		3,981		3,347
Total Asurion, LLC					9,346		8,734		7,623
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	8.78	%	Airport Services	6,338		6,242		6,027		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12	%	Health Care Services	6,371		6,311		6,148
BAART Programs, Inc.	First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12	%	Health Care Services	1,771		1,751		1,664		(4)(5)
Total BAART Programs, Inc.					8,142		8,062		7,812
Blackhawk Network Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025	6.03	%	Data Processing & Outsourced Services	9,575		9,566		8,977
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	8.98	%	Application Software	7,444		7,347		5,455
C5 Technology Holdings, LLC	171 Common Units			Data Processing & Outsourced Services			—		—		(4)
C5 Technology Holdings, LLC	7,193,539.63 Preferred Units			Data Processing & Outsourced Services			7,194		5,683		(4)
Total C5 Technology Holdings, LLC							7,194		5,683
Centerline Communications, LLC	First Lien Term Loan, SOFR+5.50% cash due 8/10/2027	9.12	%	Wireless Telecommunication Services	4,358		4,286		4,280
Centerline Communications, LLC	First Lien Delayed Draw Term Loan, SOFR+5.50% cash due 8/10/2027	9.12	%	Wireless Telecommunication Services	449		432		413		(5)
Centerline Communications, LLC	First Lien Revolver, SOFR+5.50% cash due 8/10/2027			Wireless Telecommunication Services	—		(10)		(11)		(5)
Total Centerline Communications, LLC					4,807		4,708		4,682


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
CITGO Petroleum Corp.	First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024	9.37	%	Oil & Gas Refining & Marketing	$	7,038	$	6,967	$	7,057	(4)
City Football Group Limited	First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028	6.48	%	Movies & Entertainment	6,451		6,419		6,166
Convergeone Holdings, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026	8.12	%	IT Consulting & Other Services	7,373		7,206		5,320		(4)
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	7.65	%	Health Care Distributors	5,375		5,053		5,035		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	7.67	%	Biotechnology	5,820		5,776		5,587
Dealer Tire, LLC	First Lien Term Loan, LIBOR+4.25% cash due 12/12/2025	7.37	%	Distributors	2,992		2,935		2,924
Delivery Hero FinCo LLC	First Lien Term Loan, SOFR+5.75% cash due 8/12/2027	8.49	%	Internet & Direct Marketing Retail	6,035		5,876		5,756		(4)
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	8.12	%	Cable & Satellite	6,436		6,332		6,012		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	8.26	%	Paper Products	4,100		4,065		3,921
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	7.33	%	Research & Consulting Services	8,000		7,849		7,616		(4)
Eagle Parent Corp.	First Lien Term Loan, SOFR+4.25% cash due 4/1/2029	7.80	%	Industrial Machinery	4,478		4,373		4,367
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	7.62	%	Application Software	7,331		7,258		6,859
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	7.94	%	Leisure Products	7,444		7,369		6,029
Global Medical Response, Inc.	First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025	7.37	%	Health Care Services	1,979		1,979		1,722		(4)
Global Medical Response, Inc.	First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025	6.81	%	Health Care Services	2,192		2,165		1,912
Total Global Medical Response, Inc.					4,171		4,144		3,634
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	8.38	%	Education Services	8,000		7,774		7,310		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, SOFR+5.25% cash due 6/30/2026	8.80	%	Pharmaceuticals	7,406		7,293		7,286
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	9.42	%	Personal Products	9,500		9,282		8,408		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	7.89	%	Metal & Glass Containers	5,000		4,624		4,610
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	8.23	%	Health Care Services	7,444		7,318		7,323
Lightbox Intermediate, L.P.	First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026	8.67	%	Real Estate Services	7,367		7,315		7,109		(4)
LogMeIn, Inc.	First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027	7.80	%	Application Software	7,860		7,751		5,494
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.25% cash due 9/6/2025	6.37	%	Electronic Components	7,366		7,282		6,835
Mindbody, Inc.	First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025	10.64	%	Internet Services & Infrastructure	4,687		4,651		4,570		(4)
Mindbody, Inc.	First Lien Revolver, LIBOR+8.00% cash due 2/14/2025			Internet Services & Infrastructure	—		(4)		(12)		(4)(5)
Total Mindbody, Inc.					4,687		4,647		4,558
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	9.17	%	Application Software	6,139		6,104		5,966		(4)
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026			Application Software	—		(3)		(10)		(4)(5)
Total MRI Software LLC					6,139		6,101		5,956
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025	7.87	%	Electrical Components & Equipment	6,685		6,673		6,484
OEConnection LLC	First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026	7.12	%	Application Software	7,777		7,741		7,505		(4)
Park Place Technologies, LLC	First Lien Term Loan, SOFR+5.00% cash due 11/10/2027	8.13	%	Internet Services & Infrastructure	4,925		4,781		4,687		(4)
Peloton Interactive, Inc.	First Lien Term Loan, SOFR+6.50% cash due 5/25/2027	8.35	%	Leisure Products	5,486		5,251		5,371


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)		Industry	Principal		Cost		Fair Value (3)		Notes
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	10.92	%	Application Software	$	4,503	$	4,435	$	4,323	(4)
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	10.68	%	Application Software	6,796		6,694		6,582		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027			Application Software	—		(6)		(13)		(4)(5)
Total Pluralsight, LLC					6,796		6,688		6,569
RevSpring, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 10/11/2025	7.67	%	Commercial Printing	9,625		9,607		9,304
Sabert Corporation	First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026	7.63	%	Metal & Glass Containers	2,536		2,511		2,435		(4)
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	8.06	%	Footwear	8,201		8,194		7,176
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	8.04	%	Footwear	138		138		121
Total SHO Holding I Corporation					8,339		8,332		7,297
Sorenson Communications, LLC	First Lien Term Loan, LIBOR+5.50% cash due 3/17/2026	9.17	%	Communications Equipment	2,553		2,528		2,454
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	8.30	%	Apparel Retail	8,933		8,776		8,721		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	7.63	%	Industrial Machinery	7,500		7,184		6,966		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	7.42	%	Application Software	7,743		7,479		6,827		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	6.51	%	Health Care Facilities	3,377		3,365		3,213
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	8.15	%	Application Software	6,256		5,693		5,629		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	9.12	%	Health Care Supplies	7,285		7,155		7,140		(4)
Veritas US Inc.	First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025	8.67	%	Application Software	6,365		6,290		5,087
Windstream Services II, LLC	First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027	9.37	%	Integrated Telecommunication Services	7,818		7,596		7,115		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	10.56	%	Aerospace & Defense	6,000		5,972		5,070		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	6.56	%	Aerospace & Defense	1,985		1,910		1,783		(4)
Total WP CPP Holdings, LLC					7,985		7,882		6,853
Zayo Group Holdings, Inc.	First Lien Term Loan, LIBOR+3.00% cash due 3/9/2027	6.12	%	Alternative Carriers	2,155		2,000		1,812
Total Portfolio Investments					$	383,194	$	382,673	$	359,625

_________

(1) Represents the interest rate as of September 30, 2022. All interest rates are payable in cash, unless otherwise noted.

(2) The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rates based on each respective credit agreement and the cash interest rate as of period end. All the LIBOR shown above is in U.S. dollars. As of September 30, 2022, the reference rates for SLF JV I's variable rate loans were the 30-day LIBOR at 3.12%, the 90-day LIBOR at 3.67%, the 30-day SOFR at 3.03%, the 90-day SOFR at 3.55% and the 180-day SOFR at 3.98%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

(4) This investment was held by both the Company and SLF JV I as of September 30, 2022.

Glick JV Portfolio as of December 31, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	11.34%	Construction & Engineering	$	4,589	$	4,528	$	4,510	(4)
Alvogen Pharma Inc	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	12.23%	Pharmaceuticals	6,479		6,413		6,447		(4)
Alvogen Pharma Inc	First Lien Term Loan, LIBOR+4.00% cash due 6/9/2028	8.38%	Diversified Metals & Mining	997		918		941
Total Alvogen Pharma Inc				7,476		7,331		7,388
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	10.61%	Distributors	2,882		2,846		2,652		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	8.98%	Movies & Entertainment	2,918		2,888		2,813		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	8.48%	Personal Products	914		711		685		(4)
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027		Paper Packaging	—		(3)		(8)		(5)
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	10.38%	Paper Packaging	1,729		1,701		1,666
Total ASP-R-PAC Acquisition Co LLC				1,729		1,698		1,658
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	9.63%	Application Software	2,078		2,034		1,844		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	8.68%	Property & Casualty Insurance	1,995		1,901		1,785
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	9.63%	Property & Casualty Insurance	2,423		2,220		1,898
Total Asurion, LLC				4,418		4,121		3,683
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	10.32%	Airport Services	3,647		3,595		3,468		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	9.07%	Health Care Services	3,389		3,357		3,294
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	9.73%	Health Care Services	806		798		768		(4)(5)
Total BAART Programs, Inc.				4,195		4,155		4,062
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	10.70%	Application Software	3,960		3,912		3,193
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	9.58%	Health Care Distributors	2,280		2,143		2,142		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	8.73%	Biotechnology	2,863		2,842		2,806
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	9.38%	Cable & Satellite	2,663		2,636		2,598		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	9.79%	Paper Products	2,497		2,472		2,397
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	8.84%	Research & Consulting Services	2,993		2,938		2,764		(4)


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	8.88%	Application Software	$	2,438	$	2,413	$	2,158
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	9.13%	Leisure Products	3,960		3,920		2,930
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	9.67%	Education Services	3,990		3,882		3,807		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, SOFR+5.25% cash due 6/30/2026	10.09%	Pharmaceuticals	3,940		3,884		3,881
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	10.48%	Personal Products	2,344		2,293		2,004		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	8.94%	Metal & Glass Containers	1,995		1,849		1,819
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	9.76%	Health Care Services	3,960		3,897		3,891
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025	7.88%	Electronic Components	1,355		1,203		1,300
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026		Application Software	—		(1)		(6)		(4)(5)
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	10.23%	Application Software	1,642		1,629		1,583		(4)
Total MRI Software LLC				1,642		1,628		1,577
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025	9.23%	Electrical Components & Equipment	5,239		5,230		5,082
OEConnection LLC	First Lien Term Loan, SOFR+4.00% cash due 9/25/2026	8.42%	Application Software	3,878		3,861		3,705		(4)
Planview Parent, Inc.	First Lien Term Loan, LIBOR+4.00% cash due 12/17/2027	8.73%	Application Software	688		649		643
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	11.98%	Application Software	2,842		2,799		2,551		(4)
Total Planview Parent, Inc.				3,530		3,448		3,194
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	11.83%	Application Software	4,465		4,401		4,354		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027	12.36%	Application Software	158		153		150		(4)(5)
Total Pluralsight, LLC				4,623		4,554		4,504
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	9.66%	Footwear	6,078		6,068		4,710
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	9.64%	Footwear	102		102		89
Total SHO Holding I Corporation				6,180		6,170		4,799
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	9.64%	Apparel Retail	4,950		4,867		4,833		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	8.92%	Industrial Machinery	5,985		5,730		5,605		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	8.48%	Application Software	2,813		2,714		2,436		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	8.05%	Health Care Facilities	3,044		3,034		3,014
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	9.18%	Application Software	2,654		2,423		2,377		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	10.38%	Health Care Supplies	3,016		2,964		2,948		(4)
Tribe Buyer LLC	First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024	8.88%	Human Resource & Employment Services	1,578		1,578		987
Windstream Services II, LLC	First Lien Term Loan, SOFR+6.25% cash due 9/21/2027	10.67%	Integrated Telecommunication Services	4,874		4,742		4,433		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	12.17%	Aerospace & Defense	3,000		2,987		2,528		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	8.17%	Aerospace & Defense	990		956		864		(4)
Total WP CPP Holdings, LLC				3,990		3,943		3,392
Total Portfolio Investments				$	134,080	$	131,077	$	123,339

__________

(1) Represents the interest rate as of December 31, 2022. All interest rates are payable in cash, unless otherwise noted.

(2) The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rates based on each respective credit agreement and the cash interest rate as of period end. All LIBOR shown above is in U.S. dollars. As of December 31, 2022, the reference rates for the Glick JV's variable rate loans were the 30-day LIBOR at 4.38%, the 90-day LIBOR at 4.73%, the 30-day SOFR at 4.32% and the 90-day SOFR at 4.58%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

(4) This investment was held by both the Company and the Glick JV as of December 31, 2022.

Glick JV Portfolio as of September 30, 2022


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
ADB Companies, LLC	First Lien Term Loan, SOFR+6.25% cash due 12/18/2025	9.80%	Construction & Engineering	$	4,647	$	4,579	$	4,567	(4)
Alvogen Pharma Inc	First Lien Term Loan, SOFR+7.50% cash due 6/30/2025	11.20%	Pharmaceuticals	6,562		6,489		6,529		(4)
American Tire Distributors, Inc.	First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	9.03%	Distributors	2,889		2,853		2,714		(4)
Amplify Finco Pty Ltd.	First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	7.92%	Movies & Entertainment	2,925		2,896		2,823		(4)
Anastasia Parent, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025	7.42%	Personal Products	917		712		734		(4)
ASP-R-PAC Acquisition Co LLC	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027	9.67%	Paper Packaging	1,734		1,704		1,694
ASP-R-PAC Acquisition Co LLC	First Lien Revolver, LIBOR+6.00% cash due 12/29/2027		Paper Packaging	—		(4)		(5)		(5)
Total ASP-R-PAC Acquisition Co LLC				1,734		1,700		1,689
Astra Acquisition Corp.	First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	8.37%	Application Software	2,078		2,033		1,777		(4)
Asurion, LLC	First Lien Term Loan, SOFR+4.00% cash due 8/19/2028	7.70%	Property & Casualty Insurance	2,000		1,901		1,711
Asurion, LLC	Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029	8.37%	Property & Casualty Insurance	2,423		2,212		1,866
Total Asurion, LLC				4,423		4,113		3,577
Aurora Lux Finco S.À.R.L.	First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	8.78%	Airport Services	3,656		3,601		3,476		(4)
BAART Programs, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12%	Health Care Services	3,398		3,366		3,279
BAART Programs, Inc.	First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027	8.12%	Health Care Services	808		800		760		(4)(5)
Total BAART Programs, Inc.				4,206		4,166		4,039
BYJU's Alpha, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 11/24/2026	8.98%	Application Software	3,970		3,919		2,909
CITGO Petroleum Corp.	First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024	9.37%	Oil & Gas Refining & Marketing	3,519		3,484		3,529		(4)
City Football Group Limited	First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028	6.48%	Movies & Entertainment	2,481		2,469		2,372
Covetrus, Inc.	First Lien Term Loan, SOFR+5.00% cash due 9/20/2029	7.65%	Health Care Distributors	2,280		2,143		2,136		(4)
Curium Bidco S.à.r.l.	First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026	7.67%	Biotechnology	2,870		2,849		2,756
DirecTV Financing, LLC	First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	8.12%	Cable & Satellite	2,730		2,703		2,549		(4)
Domtar Corporation	First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028	8.26%	Paper Products	2,503		2,478		2,394
DTI Holdco, Inc.	First Lien Term Loan, SOFR+4.75% cash due 4/26/2029	7.33%	Research & Consulting Services	3,000		2,943		2,856		(4)


Portfolio Company	Investment Type	Cash Interest Rate (1)(2)	Industry	Principal		Cost		Fair Value (3)		Notes
Eagle Parent Corp.	First Lien Term Loan, SOFR+4.25% cash due 4/1/2029	7.80%	Industrial Machinery	$	2,488	$	2,429	$	2,426
eResearch Technology, Inc.	First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027	7.62%	Application Software	2,444		2,419		2,286
Gibson Brands, Inc.	First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028	7.94%	Leisure Products	3,970		3,930		3,216
Harbor Purchaser Inc.	First Lien Term Loan, SOFR+5.25% cash due 4/9/2029	8.38%	Education Services	4,000		3,887		3,655		(4)
Indivior Finance S.À.R.L.	First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026	8.80%	Pharmaceuticals	3,950		3,890		3,886
INW Manufacturing, LLC	First Lien Term Loan, LIBOR+5.75% cash due 3/25/2027	9.42%	Personal Products	2,375		2,320		2,102		(4)
Iris Holding, Inc.	First Lien Term Loan, SOFR+4.75% cash due 6/28/2028	7.89%	Metal & Glass Containers	2,000		1,846		1,844
LaserAway Intermediate Holdings II, LLC	First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027	8.23%	Health Care Services	3,970		3,903		3,905
LTI Holdings, Inc.	First Lien Term Loan, LIBOR+3.25% cash due 9/6/2025	6.37%	Electronic Components	1,358		1,192		1,260
MRI Software LLC	First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	9.17%	Application Software	1,647		1,632		1,600		(4)
MRI Software LLC	First Lien Revolver, LIBOR+5.50% cash due 2/10/2026		Application Software	—		(1)		(4)		(4)(5)
Total MRI Software LLC				1,647		1,631		1,596
Northern Star Industries Inc.	First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025	7.87%	Electrical Components & Equipment	5,252		5,243		5,095
OEConnection LLC	First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026	7.12%	Application Software	3,888		3,871		3,752		(4)
Planview Parent, Inc.	Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	10.92%	Application Software	2,842		2,799		2,728		(4)
Pluralsight, LLC	First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	10.68%	Application Software	4,465		4,398		4,325		(4)
Pluralsight, LLC	First Lien Revolver, LIBOR+8.00% cash due 4/6/2027		Application Software	—		(5)		(10)		(4)(5)
Total Pluralsight, LLC				4,465		4,393		4,315
Sabert Corporation	First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026	7.63%	Metal & Glass Containers	1,691		1,674		1,623		(4)
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024	8.06%	Footwear	6,094		6,082		5,332
SHO Holding I Corporation	First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024	8.04%	Footwear	102		102		90
Total SHO Holding I Corporation				6,196		6,184		5,422
Spanx, LLC	First Lien Term Loan, LIBOR+5.25% cash due 11/20/2028	8.30%	Apparel Retail	4,962		4,876		4,845		(4)
SPX Flow, Inc.	First Lien Term Loan, SOFR+4.50% cash due 4/5/2029	7.63%	Industrial Machinery	6,000		5,734		5,572		(4)
Supermoose Borrower, LLC	First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	7.42%	Application Software	2,820		2,712		2,487		(4)
Surgery Center Holdings, Inc.	First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026	6.51%	Health Care Facilities	3,377		3,365		3,213
TIBCO Software Inc.	First Lien Term Loan, SOFR+4.50% cash due 3/20/2029	8.15%	Application Software	2,654		2,415		2,388		(4)
Touchstone Acquisition, Inc.	First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028	9.12%	Health Care Supplies	3,024		2,970		2,963		(4)
Tribe Buyer LLC	First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024	7.62%	Human Resource & Employment Services	1,583		1,582		1,266
Windstream Services II, LLC	First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027	9.37%	Integrated Telecommunication Services	4,886		4,747		4,447		(4)
WP CPP Holdings, LLC	First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025	6.56%	Aerospace & Defense	993		955		892		(4)
WP CPP Holdings, LLC	Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026	10.56%	Aerospace & Defense	3,000		2,986		2,534		(4)
Total WP CPP Holdings, LLC				3,993		3,941		3,426
Total Portfolio Investments				$	143,225	$	140,083	$	133,144

__________

(1) Represents the interest rate as of September 30, 2022. All interest rates are payable in cash, unless otherwise noted.

(2) The interest rate on the principal balance outstanding for most of the floating rate loans is indexed to LIBOR and/or an alternate base rate (e.g., prime rate), which typically resets semi-annually, quarterly, or monthly at the borrower's option. Certain loans may also be indexed to SOFR. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, the Company has provided the applicable margin over the reference rates based on each respective credit agreement and the cash interest rate as of period end. All LIBOR shown above is in U.S. dollars. As of September 30, 2022, the reference rates for the Glick JV's variable rate loans were the 30-day LIBOR at 3.12%, the 90-day LIBOR at 3.67%, the 30-day SOFR at 3.03% and the 90-day SOFR at 3.55%. Most loans include an interest floor, which generally ranges from 0% to 1%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread.

(4) This investment was held by both the Company and the Glick JV as of September 30, 2022.

Schedule of Financial Instruments Carried at Fair Value


	Level 1		Level 2		Level 3		Measured at Net Asset Value (a)		Total
Investments in debt securities (senior secured)	$	—	$	233,393	$	2,047,842	$	—	$	2,281,235
Investments in debt securities (subordinated, including the debt investments in the JVs)	—		44,706		179,631		—		224,337
Investments in equity securities (preferred)	—		—		80,625		—		80,625
Investments in equity securities (common and warrants, including LLC equity interests of the JVs)	5,923		—		26,642		24,108		56,673
Total investments at fair value	5,923		278,099		2,334,740		24,108		2,642,870
Cash equivalents	3,421		—		—		—		3,421
Total assets at fair value	$	9,344	$	278,099	$	2,334,740	$	24,108	$	2,646,291
Derivative liability	$	—	$	44,139	$	—	$	—	$	44,139
Total liabilities at fair value	$	—	$	44,139	$	—	$	—	$	44,139

__________


	Level 1		Level 2		Level 3		Measured at Net Asset Value (a)		Total
Investments in debt securities (senior secured)	$	—	$	255,803	$	1,910,606	$	—	$	2,166,409
Investments in debt securities (subordinated, including the debt investments in the JVs)	—		44,065		159,388		—		203,453
Investments in equity securities (preferred)	—		—		79,523		—		79,523
Investments in equity securities (common and warrants, including LLC equity interests of the JVs)	4,053		—		19,958		20,715		44,726
Total investments at fair value	4,053		299,868		2,169,475		20,715		2,494,111
Cash equivalents	5,261		—		—		—		5,261
Derivative assets	—		6,789		—		—		6,789
Total assets at fair value	$	9,314	$	306,657	$	2,169,475	$	20,715	$	2,506,161
Derivative liability	$	—	$	41,969	$	—	$	—	$	41,969
Total liabilities at fair value	$	—	$	41,969	$	—	$	—	$	41,969

__________

Roll-Forward in the Changes in Fair Value


	Investments
	Senior Secured Debt		Subordinated Debt (including debt investments in the JVs)		Preferred Equity		Common Equity and Warrants		Total
Fair value as of September 30, 2022	$	1,910,606	$	159,388	$	79,523	$	19,958	$	2,169,475
Purchases	177,599		21,104		2,579		2,181		203,463
Sales and repayments	(55,885)		(699)		—		(48)		(56,632)
Transfers in (a)	19,075		—		—		—		19,075
Capitalized PIK interest income	5,763		6		—		—		5,769
Accretion of OID	4,114		398		—		—		4,512
Net unrealized appreciation (depreciation)	(12,271)		(566)		(1,477)		4,505		(9,809)
Net realized gains (losses)	(1,159)		—		—		46		(1,113)
Fair value as of December 31, 2022	$	2,047,842	$	179,631	$	80,625	$	26,642	$	2,334,740
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2022	$	(12,398)	$	(566)	$	(1,477)	$	4,505	$	(9,936)

__________


	Investments
	Senior Secured Debt		Subordinated Debt (including debt investments in the JVs)		Preferred Equity		Common Equity and Warrants		Total
Fair value as of September 30, 2021	$	1,878,536	$	176,317	$	63,565	$	43,163	$	2,161,581
Purchases	191,087		3,589		979		1,441		197,096
Sales and repayments	(131,946)		(20,185)		—		(6,503)		(158,634)
Transfers in (a)	3,178		—		—		—		3,178
Transfers out (a)	(17,070)		—		—		—		(17,070)
Capitalized PIK interest income	6,172		313		—		—		6,485
Accretion of OID	5,378		819		—		—		6,197
Net unrealized appreciation (depreciation)	(9,877)		516		1,006		6,636		(1,719)
Net realized gains (losses)	8,638		—		—		(2,795)		5,843
Fair value as of December 31, 2021	$	1,934,096	$	161,369	$	65,550	$	41,942	$	2,202,957
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2021 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2021	$	(717)	$	368	$	1,006	$	1,139	$	1,796

__________

Schedule of Significant Unobservable Inputs for Level 3 Investments

The following table provides quantitative information related to the significant unobservable inputs for Level 3 investments, which are carried at fair value, as of December 31, 2022:

Asset

Fair Value

Valuation Technique

Unobservable Input

Range

Weighted
Average (a)

Senior Secured Debt

1,692,264

Market Yield

(b)

9.0%

33.0%

14.0%

14,297

Enterprise Value

EBITDA Multiple

(c)

5.0x

7.0x

6.0x

38,581

Transaction Precedent

Transaction Price

(d)

N/A

302,700

Broker Quotations

Broker Quoted Price

(e)

N/A

Subordinated Debt

13,706

Market Yield

(b)

10.0%

20.0%

11.4%

3,733

Broker Quotations

Broker Quoted Price

(e)

N/A

Debt Investments in the JVs

162,192

Enterprise Value

N/A

(f)

N/A

Preferred & Common Equity

30,226

Enterprise Value

Revenue Multiple

(c)

0.1x

4.3x

0.5x

73,822

Enterprise Value

EBITDA Multiple

(c)

3.0x

20.0x

14.6x

1,600

Enterprise Value

Asset Multiple

(c)

0.9x

1.1x

1.0x

1,619

Transaction Precedent

Transaction Price

(d)

N/A

Total

2,334,740

__________

(a)Weighted averages are calculated based on fair value of investments.

(b)Used when market participants would take into account market yield when pricing the investment.

(c)Used when market participants would use such multiples when pricing the investment.

(d)Used when there is an observable transaction or pending event for the investment.

The following table provides quantitative information related to the significant unobservable inputs for Level 3 investments, which are carried at fair value, as of September 30, 2022:

Asset

Fair Value

Valuation Technique

Unobservable Input

Range

Weighted
Average (a)

Senior Secured Debt

1,599,148

Market Yield

(b)

9.0%

30.0%

13.7%

14,333

Enterprise Value

EBITDA Multiple

(c)

5.0x

7.0x

6.0x

297,125

Broker Quotations

Broker Quoted Price

(e)

N/A

Subordinated Debt

12,855

Market Yield

(b)

10.0%

19.0%

13.8%

Debt Investments in the JVs

146,533

Enterprise Value

N/A

(f)

N/A

Preferred & Common Equity

61,693

Enterprise Value

Revenue Multiple

(c)

0.4x

10.1x

4.3x

36,913

Enterprise Value

EBITDA Multiple

(c)

3.0x

20.0x

11.4x

Enterprise Value

Asset Multiple

(c)

0.9x

1.1x

1.0x

872

Transaction Precedent

Transaction Price

(d)

N/A

Total

2,169,475

__________

(a)Weighted averages are calculated based on fair value of investments.

(b)Used when market participants would take into account market yield when pricing the investment.

(c)Used when market participants would use such multiples when pricing the investment.

(d)Used when there is an observable transaction or pending event for the investment.

Fair Value Disclosure of Asset and Liability Not Measured at Fair Value


	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Syndicated Facility payable	$	695,000	$	695,000	$	—	$	—	$	695,000
Citibank Facility payable	165,000		165,000		—		—		165,000
2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount)	297,303		286,734		—		286,734		—
2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment)	306,321		296,835		—		296,835		—
Total	$	1,463,624	$	1,443,569	$	—	$	583,569	$	860,000


	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Syndicated Facility payable	$	540,000	$	540,000	$	—	$	—	$	540,000
Citibank Facility payable	160,000		160,000		—		—		160,000
2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount)	296,991		283,077		—		283,077		—
2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment)	304,052		294,028		—		294,028		—
Total	$	1,301,043	$	1,277,105	$	—	$	577,105	$	700,000

Portfolio Composition


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Senior secured debt	$	2,359,295	84.94	%	$	2,227,245	85.08	%
Debt investments in the JVs	162,617		5.85	%	146,444		5.59	%
Preferred equity	87,878		3.16	%	85,300		3.26	%
Subordinated debt	68,956		2.48	%	67,147		2.57	%
LLC equity interests of the JVs	54,791		1.97	%	49,322		1.88	%
Common equity and warrants	44,477		1.60	%	42,296		1.62	%
Total	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Senior secured debt	$	2,281,235	86.32	%	189.78	%	$	2,166,409	86.86	%	173.93	%
Debt investments in the JVs	162,192		6.14	%	13.49	%	146,533		5.88	%	11.77	%
Preferred equity	80,625		3.05	%	6.71	%	79,523		3.19	%	6.38	%
Subordinated debt	62,145		2.35	%	5.17	%	56,920		2.28	%	4.57	%
Common equity and warrants	32,565		1.23	%	2.71	%	24,011		0.96	%	1.93	%
LLC equity interests of the JVs	24,108		0.91	%	2.01	%	20,715		0.83	%	1.66	%
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Northeast	$	772,197	27.78	%	$	747,420	28.55	%
Midwest	403,393		14.52	%	373,236		14.26	%
Southeast	397,717		14.32	%	356,041		13.60	%
West	351,871		12.67	%	358,306		13.69	%
International	350,510		12.62	%	301,242		11.51	%
Southwest	204,143		7.35	%	221,308		8.45	%
South	164,094		5.91	%	168,819		6.45	%
Northwest	134,089		4.83	%	91,382		3.49	%
Total	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Northeast	$	716,827	27.12	%	59.63	%	$	696,368	27.93	%	55.90	%
Midwest	384,219		14.54	%	31.97	%	356,934		14.31	%	28.66	%
Southeast	380,276		14.39	%	31.64	%	344,567		13.82	%	27.66	%
International	342,447		12.96	%	28.49	%	279,646		11.21	%	22.45	%
West	330,698		12.51	%	27.51	%	345,251		13.84	%	27.72	%
Southwest	195,818		7.41	%	16.29	%	214,984		8.62	%	17.26	%
South	160,150		6.06	%	13.32	%	166,230		6.66	%	13.35	%
Northwest	132,435		5.01	%	11.02	%	90,131		3.61	%	7.24	%
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%


(Share amounts in thousands)	Three months ended December 31, 2022 (8)	Three months ended December 31, 2021 (8)
Net asset value per share at beginning of period	$20.38	$21.84
Net investment income (1)	0.63	0.54
Net unrealized appreciation (depreciation) (1)	(0.38)	(0.08)
Net realized gains (losses) (1)	(0.05)	0.16
(Provision) benefit for taxes on realized and unrealized gains (losses) (1)	0.01	0.04
Distributions of net investment income to stockholders	(0.96)	(0.47)
Net asset value per share at end of period	$19.63	$22.03
Per share market value at beginning of period (7)	$18.00	$21.18
Per share market value at end of period (7)	$20.61	$22.38
Total return (2)	19.90%	7.92%
Common shares outstanding at beginning of period	61,125	60,120
Common shares outstanding at end of period	61,220	60,156
Net assets at beginning of period	$1,245,563	$1,312,823
Net assets at end of period	$1,201,989	$1,325,061
Average net assets (3)	$1,241,806	$1,327,934
Ratio of net investment income to average net assets (4)	12.40%	9.65%
Ratio of total expenses to average net assets (4)	13.11%	8.99%
Ratio of net expenses to average net assets (4)	12.87%	8.77%
Ratio of portfolio turnover to average investments at fair value	4.24%	9.14%
Weighted average outstanding debt (5)	$1,441,326	$1,331,141
Average debt per share (1)	$23.57	$22.14
Asset coverage ratio at end of period (6)	176.31%	200.81%

__________


(1)			Calculated based upon weighted average shares outstanding for the period.
(2)			Total return equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming dividend reinvestment prices obtained under the Company's DRIP. Total return does not include sales load.
(3)			Calculated based upon the weighted average net assets for the period.
(4)			Interim periods are annualized.
(5)			Calculated based upon the weighted average of principal debt outstanding for the period.
(6)			Based on outstanding senior securities of $1,514.4 million and $1,300.0 million as of December 31, 2022 and 2021, respectively.
(7)			Per share market values are adjusted to reflect the 1-for-3 reverse stock split of the Company's common stock completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.
(8)			The share and per share information disclosed in this table has been retrospectively adjusted to reflect the Company's 1-for-3 reverse stock split completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.

Share Data and Net Assets (Tables)

3 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share, pursuant to ASC Topic 260-10, Earnings per Share, for the three months ended December 31, 2022 and 2021:


(Share amounts in thousands)	Three months ended December 31, 2022		Three months ended December 31, 2021
Earnings (loss) per common share — basic and diluted:
Net increase (decrease) in net assets resulting from operations	$	13,172	$	39,408
Weighted average common shares outstanding — basic and diluted	61,142		60,127
Earnings (loss) per common share — basic and diluted	$	0.22	$	0.66

Schedule of Distributions


Distribution	Date Declared	Record Date	Payment Date	Amount per Share		Cash Distribution			DRIP Shares Issued		DRIP Shares Value
Quarterly	November 10, 2022	December 15, 2022	December 30, 2022	$	0.54	$	32.0	million	53,369	(1)	$	1.1	million
Special	November 10, 2022	December 15, 2022	December 30, 2022	$	0.42	$	24.8	million	41,510	(1)	$	0.8	million
Total for the three months ended December 31, 2022				$	0.96	$	56.8	million	94,879		$	1.9	million
Distribution	Date Declared	Record Date	Payment Date	Amount per Share		Cash Distribution			DRIP Shares Issued		DRIP Shares Value
Quarterly	October 13, 2021	December 15, 2021	December 31, 2021	$	0.465	$	27.2	million	35,990	(1)	$	0.8	million
Total for the three months ended December 31, 2021				$	0.465	$	27.2	million	35,990		$	0.8	million

__________

(1) New shares were issued and distributed.

Borrowings (Tables)

3 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Components of Debt

The below table presents the components of the carrying value of the 2025 Notes and the 2027 Notes as of December 31, 2022 and September 30, 2022:


	As of December 31, 2022				As of September 30, 2022
($ in millions)	2025 Notes		2027 Notes		2025 Notes		2027 Notes
Principal	$	300.0	$	350.0	$	300.0	$	350.0
Unamortized financing costs	(1.6)		(3.1)		(1.8)		(3.2)
Unaccreted discount	(1.1)		(0.7)		(1.2)		(0.7)
Interest rate swap fair value adjustment	—		(39.9)		—		(42.0)
Net carrying value	$	297.3	$	306.3	$	297.0	$	304.1
Fair Value	$	286.7	$	296.8	$	283.1	$	294.0

The below table presents the components of interest and other debt expenses related to the 2025 Notes and the 2027 Notes for the three months ended December 31, 2022:


($ in millions)	2025 Notes			2027 Notes
Coupon interest	$	2.6		$	2.4
Amortization of financing costs and discount	0.3			0.2
Effect of interest rate swap	—			2.5
Total interest expense	$	2.9		$	5.1
Coupon interest rate (net of effect of interest rate swap for 2027 Notes)	3.500		%	5.586		%

The below table presents the components of interest and other debt expenses related to the 2025 Notes and the 2027 Notes for the three months ended December 31, 2021:


($ in millions)	2025 Notes			2027 Notes
Coupon interest	$	2.6		$	2.4
Amortization of financing costs and discount	0.3			0.2
Effect of interest rate swap	—			(0.7)
Total interest expense	$	2.9		$	1.9
Coupon interest rate (net of effect of interest rate swap for 2027 Notes)	3.500		%	1.782		%

Taxable/Distributable Income and Dividend Distributions (Tables)

3 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations

Listed below is a reconciliation of "net increase (decrease) in net assets resulting from operations" to taxable income for the three months ended December 31, 2022 and 2021.


	Three months ended December 31, 2022		Three months ended December 31, 2021
Net increase (decrease) in net assets resulting from operations	$	13,172	$	39,408
Net unrealized (appreciation) depreciation	22,982		4,586
Book/tax difference due to organizational costs	—		(22)
Book/tax difference due to capital losses utilized	8,013		(10,531)
Other book/tax differences	(12,910)		(11,171)
Taxable/Distributable Income (1)	$	31,257	$	22,270

Components of Accumulated Overdistributed Earnings

As of September 30, 2022, the Company's last tax year end, the components of accumulated overdistributed earnings on a tax basis were as follows:


Undistributed ordinary income, net	$	(43,624)
Net realized capital losses	473,274
Unrealized losses, net	153,119
Accumulated overdistributed earnings	$	582,769

Realized Gains or Losses and Net Unrealized Appreciation or Depreciation (Tables)

3 Months Ended

Dec. 31, 2022

Investment Company [Abstract]

Schedule of Aggregate Net Realized Gains

During the three months ended December 31, 2022, the Company recorded an aggregate net realized loss of $3.2 million, which consisted of the following:


($ in millions)
Portfolio Company	Net Realized Gain (Loss)
Foreign currency forward contracts	$	4.4
Carvana Co.	(2.8)
ASP Unifrax Holdings Inc.	(2.1)
Global Medical Response Inc.	(1.0)
Other, net	(1.7)
Total, net	$	(3.2)

During the three months ended December 31, 2021, the Company recorded an aggregate net realized gain of $9.3 million, which consisted of the following:


($ in millions)
Portfolio Company	Net Realized Gain (Loss)
Foreign currency forward contracts	$	3.0
OmniSYS Acquisition Corporation	2.0
First Star Speir Aviation Limited	1.9
Other, net	2.4
Total, net	$	9.3

Financial Highlights (Tables)

3 Months Ended

Dec. 31, 2022

Investment Company [Abstract]

Portfolio Composition


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Senior secured debt	$	2,359,295	84.94	%	$	2,227,245	85.08	%
Debt investments in the JVs	162,617		5.85	%	146,444		5.59	%
Preferred equity	87,878		3.16	%	85,300		3.26	%
Subordinated debt	68,956		2.48	%	67,147		2.57	%
LLC equity interests of the JVs	54,791		1.97	%	49,322		1.88	%
Common equity and warrants	44,477		1.60	%	42,296		1.62	%
Total	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Senior secured debt	$	2,281,235	86.32	%	189.78	%	$	2,166,409	86.86	%	173.93	%
Debt investments in the JVs	162,192		6.14	%	13.49	%	146,533		5.88	%	11.77	%
Preferred equity	80,625		3.05	%	6.71	%	79,523		3.19	%	6.38	%
Subordinated debt	62,145		2.35	%	5.17	%	56,920		2.28	%	4.57	%
Common equity and warrants	32,565		1.23	%	2.71	%	24,011		0.96	%	1.93	%
LLC equity interests of the JVs	24,108		0.91	%	2.01	%	20,715		0.83	%	1.66	%
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%


	December 31, 2022				September 30, 2022
Cost:			% of Total Investments				% of Total Investments
Northeast	$	772,197	27.78	%	$	747,420	28.55	%
Midwest	403,393		14.52	%	373,236		14.26	%
Southeast	397,717		14.32	%	356,041		13.60	%
West	351,871		12.67	%	358,306		13.69	%
International	350,510		12.62	%	301,242		11.51	%
Southwest	204,143		7.35	%	221,308		8.45	%
South	164,094		5.91	%	168,819		6.45	%
Northwest	134,089		4.83	%	91,382		3.49	%
Total	$	2,778,014	100.00	%	$	2,617,754	100.00	%


	December 31, 2022						September 30, 2022
Fair Value:			% of Total Investments		% of Net Assets				% of Total Investments		% of Net Assets
Northeast	$	716,827	27.12	%	59.63	%	$	696,368	27.93	%	55.90	%
Midwest	384,219		14.54	%	31.97	%	356,934		14.31	%	28.66	%
Southeast	380,276		14.39	%	31.64	%	344,567		13.82	%	27.66	%
International	342,447		12.96	%	28.49	%	279,646		11.21	%	22.45	%
West	330,698		12.51	%	27.51	%	345,251		13.84	%	27.72	%
Southwest	195,818		7.41	%	16.29	%	214,984		8.62	%	17.26	%
South	160,150		6.06	%	13.32	%	166,230		6.66	%	13.35	%
Northwest	132,435		5.01	%	11.02	%	90,131		3.61	%	7.24	%
Total	$	2,642,870	100.00	%	219.87	%	$	2,494,111	100.00	%	200.24	%


(Share amounts in thousands)	Three months ended December 31, 2022 (8)	Three months ended December 31, 2021 (8)
Net asset value per share at beginning of period	$20.38	$21.84
Net investment income (1)	0.63	0.54
Net unrealized appreciation (depreciation) (1)	(0.38)	(0.08)
Net realized gains (losses) (1)	(0.05)	0.16
(Provision) benefit for taxes on realized and unrealized gains (losses) (1)	0.01	0.04
Distributions of net investment income to stockholders	(0.96)	(0.47)
Net asset value per share at end of period	$19.63	$22.03
Per share market value at beginning of period (7)	$18.00	$21.18
Per share market value at end of period (7)	$20.61	$22.38
Total return (2)	19.90%	7.92%
Common shares outstanding at beginning of period	61,125	60,120
Common shares outstanding at end of period	61,220	60,156
Net assets at beginning of period	$1,245,563	$1,312,823
Net assets at end of period	$1,201,989	$1,325,061
Average net assets (3)	$1,241,806	$1,327,934
Ratio of net investment income to average net assets (4)	12.40%	9.65%
Ratio of total expenses to average net assets (4)	13.11%	8.99%
Ratio of net expenses to average net assets (4)	12.87%	8.77%
Ratio of portfolio turnover to average investments at fair value	4.24%	9.14%
Weighted average outstanding debt (5)	$1,441,326	$1,331,141
Average debt per share (1)	$23.57	$22.14
Asset coverage ratio at end of period (6)	176.31%	200.81%

__________


(1)			Calculated based upon weighted average shares outstanding for the period.
(2)			Total return equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming dividend reinvestment prices obtained under the Company's DRIP. Total return does not include sales load.
(3)			Calculated based upon the weighted average net assets for the period.
(4)			Interim periods are annualized.
(5)			Calculated based upon the weighted average of principal debt outstanding for the period.
(6)			Based on outstanding senior securities of $1,514.4 million and $1,300.0 million as of December 31, 2022 and 2021, respectively.
(7)			Per share market values are adjusted to reflect the 1-for-3 reverse stock split of the Company's common stock completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.
(8)			The share and per share information disclosed in this table has been retrospectively adjusted to reflect the Company's 1-for-3 reverse stock split completed on January 20, 2023 and effective as of the commencement of trading on January 23, 2023.

Derivative Instruments (Tables)

3 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Currency Forward Contracts and Interest Rate Swap

Certain information related to the Company’s foreign currency forward contracts is presented below as of December 31, 2022.


Description	Notional Amount to be Purchased		Notional Amount to be Sold		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Foreign currency forward contract	$	44,825	€	44,224	2/9/2023	$	—	$	(2,499)	Derivative liability
Foreign currency forward contract	$	46,412	£	39,965	2/9/2023	$	—	$	(1,712)	Derivative liability
						$	—	$	(4,211)

Certain information related to the Company’s foreign currency forward contracts is presented below as of September 30, 2022.


Description	Notional Amount to be Purchased		Notional Amount to be Sold		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Foreign currency forward contract	$	43,179	€	41,444	11/10/2022	$	2,466	$	—	Derivative asset
Foreign currency forward contract	$	45,692	£	37,033	11/10/2022	$	4,323	$	—	Derivative asset
						$	6,789	$	—

Certain information related to the Company’s interest rate swap is presented below as of December 31, 2022.


Description	Notional Amount		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Interest rate swap	$	350,000	1/15/2027	$	—	$	39,928	Derivative liability
				$	—	$	39,928

Certain information related to the Company’s interest rate swap is presented below as of September 30, 2022.


Description	Notional Amount		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Interest rate swap	$	350,000	1/15/2027	$	—	$	41,969	Derivative liability
				$	—	$	41,969

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Commitments and Contingencies (Tables)

3 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Unfunded Commitments


	December 31, 2022		September 30, 2022
Delta Leasing SPV II LLC	$	23,004	$	27,187
Fairbridge Strategic Capital Funding LLC	15,995		22,150
OCSI Glick JV LLC	13,998		13,998
Senior Loan Fund JV I, LLC	13,125		35,000
BioXcel Therapeutics, Inc.	11,785		11,785
Dominion Diagnostics, LLC	11,148		11,148
BAART Programs, Inc.	7,675		8,645
iCIMs, Inc.	6,930		6,930
Marinus Pharmaceuticals, Inc.	5,734		5,734
scPharmaceuticals Inc.	5,212		—
Assembled Brands Capital LLC	5,035		2,008
RumbleOn, Inc.	4,822		4,822
MRI Software LLC	4,427		5,196
107 Fair Street LLC	4,322		—
Grove Hotel Parcel Owner, LLC	4,293		4,293
Accupac, Inc.	4,197		4,605
Innocoll Pharmaceuticals Limited	4,195		4,195
Avalara, Inc.	4,147		—
Mindbody, Inc.	4,000		4,000
OTG Management, LLC	3,789		3,789
Mesoblast, Inc.	3,553		3,553
Establishment Labs Holdings Inc.	3,384		5,075
112-126 Van Houten Real22 LLC	3,174		—
ADC Therapeutics SA	3,020		3,020
Spanx, LLC	2,762		2,226
PRGX Global, Inc.	2,518		2,518
SCP Eye Care Services, LLC	2,356		—
Relativity ODA LLC	2,218		2,218
Berner Food & Beverage, LLC	2,197		1,392
Salus Workers' Compensation, LLC	2,171		—
Pluralsight, LLC	1,766		3,532
Tahoe Bidco B.V.	1,741		1,741
CorEvitas, LLC	1,526		915
Coyote Buyer, LLC	1,333		1,333
MHE Intermediate Holdings, LLC	1,229		1,429
Kings Buyer, LLC	1,208		1,537
Liquid Environmental Solutions Corporation	1,115		1,115
Acquia Inc.	923		1,326
Apptio, Inc.	892		1,338
Digital.AI Software Holdings, Inc.	826		826
Telestream Holdings Corporation	528		528
GKD Index Partners, LLC	320		320
PFNY Holdings, LLC	275		1,527
Ardonagh Midco 3 PLC	—		4,372
Dialyze Holdings, LLC	—		3,431
Thrasio, LLC	—		2,578
109 Montgomery Owner LLC	—		477
LSL Holdco, LLC	—		427
Total	$	198,868	$	224,239

Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Accounting Policies [Abstract]
Restricted cash	$ 1,747		$ 1,788
Excise tax	$ 78	$ 0	$ 100

Portfolio Investments - Composition of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Schedule of Investments [Line Items]
Investment owned, at cost	$ 131,077	$ 140,083
Investments at fair value	123,339	133,144
Debt investments, fair value	$ 2,505,572	$ 2,369,862
% of Debt Portfolio	100.00%	100.00%
Investments in debt securities
Schedule of Investments [Line Items]
Investment owned, at cost	$ 2,428,251	$ 2,294,392
Investments at fair value	2,343,380	2,223,329
Investments in equity securities
Schedule of Investments [Line Items]
Investment owned, at cost	132,355	127,596
Investments at fair value	113,190	103,534
Debt investments in the JVs
Schedule of Investments [Line Items]
Investment owned, at cost	162,617	146,444
Investments at fair value	162,192	146,533
Equity investments in the JVs
Schedule of Investments [Line Items]
Investment owned, at cost	54,791	49,322
Investments at fair value	24,108	20,715
Floating rate debt securities, including the debt investments in the JVs
Schedule of Investments [Line Items]
Debt investments, fair value	$ 317,379	$ 2,049,644
% of Debt Portfolio	87.33%	86.49%
Fixed rate debt securities
Schedule of Investments [Line Items]
Debt investments, fair value	$ 2,188,193	$ 320,218
% of Debt Portfolio	12.67%	13.51%

Portfolio Investments - Schedule of Financial Instruments Carried at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Schedule of Investments [Line Items]
Investments at fair value	$ 123,339	$ 133,144
Cash equivalents	3,421	5,261
Derivative assets at fair value	0	6,789
Total assets at fair value	2,646,291	2,506,161
Derivative liability at fair value	44,139	41,969
Total liabilities at fair value	44,139	41,969
Debt Securities, Senior Secured
Schedule of Investments [Line Items]
Investments at fair value	2,281,235	2,166,409
Debt Securities, Subordinated, Including JV Debt Instruments
Schedule of Investments [Line Items]
Investments at fair value	224,337	203,453
Equity Securities, Preferred
Schedule of Investments [Line Items]
Investments at fair value	80,625	79,523
Equity Securities, Common And Warrants, Including JV Investments
Schedule of Investments [Line Items]
Investments at fair value	56,673	44,726
Level 1
Schedule of Investments [Line Items]
Investments at fair value	5,923	4,053
Cash equivalents	3,421	5,261
Derivative assets at fair value		0
Total assets at fair value	9,344	9,314
Derivative liability at fair value	0	0
Total liabilities at fair value	0	0
Level 1 \| Debt Securities, Senior Secured
Schedule of Investments [Line Items]
Investments at fair value	0	0
Level 1 \| Debt Securities, Subordinated, Including JV Debt Instruments
Schedule of Investments [Line Items]
Investments at fair value	0	0
Level 1 \| Equity Securities, Preferred
Schedule of Investments [Line Items]
Investments at fair value	0	0
Level 1 \| Equity Securities, Common And Warrants, Including JV Investments
Schedule of Investments [Line Items]
Investments at fair value	5,923	4,053
Level 2
Schedule of Investments [Line Items]
Investments at fair value	278,099	299,868
Cash equivalents	0	0
Derivative assets at fair value		6,789
Total assets at fair value	278,099	306,657
Derivative liability at fair value	44,139	41,969
Total liabilities at fair value	44,139	41,969
Level 2 \| Debt Securities, Senior Secured
Schedule of Investments [Line Items]
Investments at fair value	233,393	255,803
Level 2 \| Debt Securities, Subordinated, Including JV Debt Instruments
Schedule of Investments [Line Items]
Investments at fair value	44,706	44,065
Level 2 \| Equity Securities, Preferred
Schedule of Investments [Line Items]
Investments at fair value	0	0
Level 2 \| Equity Securities, Common And Warrants, Including JV Investments
Schedule of Investments [Line Items]
Investments at fair value	0	0
Level 3
Schedule of Investments [Line Items]
Investments at fair value	2,334,740	2,169,475
Cash equivalents	0	0
Derivative assets at fair value		0
Total assets at fair value	2,334,740	2,169,475
Derivative liability at fair value	0	0
Total liabilities at fair value	0	0
Level 3 \| Debt Securities, Senior Secured
Schedule of Investments [Line Items]
Investments at fair value	2,047,842	1,910,606
Level 3 \| Debt Securities, Subordinated, Including JV Debt Instruments
Schedule of Investments [Line Items]
Investments at fair value	179,631	159,388
Level 3 \| Equity Securities, Preferred
Schedule of Investments [Line Items]
Investments at fair value	80,625	79,523
Level 3 \| Equity Securities, Common And Warrants, Including JV Investments
Schedule of Investments [Line Items]
Investments at fair value	26,642	19,958
Fair Value Measured at Net Asset Value Per Share
Schedule of Investments [Line Items]
Investments at fair value	24,108	20,715
Cash equivalents	0	0
Derivative assets at fair value		0
Total assets at fair value	24,108	20,715
Derivative liability at fair value	0	0
Total liabilities at fair value	0
Fair Value Measured at Net Asset Value Per Share \| Debt Securities, Senior Secured
Schedule of Investments [Line Items]
Investments at fair value	0	0
Total liabilities at fair value		0
Fair Value Measured at Net Asset Value Per Share \| Debt Securities, Subordinated, Including JV Debt Instruments
Schedule of Investments [Line Items]
Investments at fair value	0	0
Fair Value Measured at Net Asset Value Per Share \| Equity Securities, Preferred
Schedule of Investments [Line Items]
Investments at fair value	0	0
Fair Value Measured at Net Asset Value Per Share \| Equity Securities, Common And Warrants, Including JV Investments
Schedule of Investments [Line Items]
Investments at fair value	$ 24,108	$ 20,715

Portfolio Investments - Roll-Forward in the Changes in Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	$ 2,169,475	$ 2,161,581
Purchases	203,463	197,096
Sales and repayments	(56,632)	(158,634)
Transfers in	19,075	3,178
Transfers out		(17,070)
Capitalized PIK interest income	5,769	6,485
Accretion of OID	4,512	6,197
Fair value, ending balance	2,334,740	2,202,957
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2022	(9,936)	1,796
Net unrealized appreciation (depreciation)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(9,809)	(1,719)
Net realized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(1,113)	5,843
Debt Securities, Senior Secured
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	1,910,606	1,878,536
Purchases	177,599	191,087
Sales and repayments	(55,885)	(131,946)
Transfers in	19,075	3,178
Transfers out		(17,070)
Capitalized PIK interest income	5,763	6,172
Accretion of OID	4,114	5,378
Fair value, ending balance	2,047,842	1,934,096
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2022	(12,398)	(717)
Debt Securities, Senior Secured \| Net unrealized appreciation (depreciation)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(12,271)	(9,877)
Debt Securities, Senior Secured \| Net realized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(1,159)	8,638
Debt Securities, Subordinated
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	159,388	176,317
Purchases	21,104	3,589
Sales and repayments	(699)	(20,185)
Transfers in	0	0
Transfers out		0
Capitalized PIK interest income	6	313
Accretion of OID	398	819
Fair value, ending balance	179,631	161,369
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2022	(566)	368
Debt Securities, Subordinated \| Net unrealized appreciation (depreciation)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(566)	516
Debt Securities, Subordinated \| Net realized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	0	0
Equity Securities, Preferred
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	79,523	63,565
Purchases	2,579	979
Sales and repayments	0	0
Transfers in	0	0
Transfers out		0
Capitalized PIK interest income	0	0
Accretion of OID	0	0
Fair value, ending balance	80,625	65,550
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2022	(1,477)	1,006
Equity Securities, Preferred \| Net unrealized appreciation (depreciation)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(1,477)	1,006
Equity Securities, Preferred \| Net realized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	0	0
Equity Securities, Common And Warrants
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	19,958	43,163
Purchases	2,181	1,441
Sales and repayments	(48)	(6,503)
Transfers in	0	0
Transfers out		0
Capitalized PIK interest income	0	0
Accretion of OID	0	0
Fair value, ending balance	26,642	41,942
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2022	4,505	1,139
Equity Securities, Common And Warrants \| Net unrealized appreciation (depreciation)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	4,505	6,636
Equity Securities, Common And Warrants \| Net realized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	$ 46	$ (2,795)

Portfolio Investments - Significant Unobservable Inputs for Level 3 Investments (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 123,339	$ 133,144
Debt Securities, Senior Secured
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	2,281,235	2,166,409
Debt investments in the JVs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	162,192	146,533
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	2,334,740	2,169,475
Level 3 \| Debt Securities, Senior Secured
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	2,047,842	1,910,606
Level 3 \| Debt Securities, Senior Secured \| Valuation, Market Approach \| Measurement Input, Market Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 1,692,264	$ 1,599,148
Level 3 \| Debt Securities, Senior Secured \| Valuation, Market Approach \| Measurement Input, Market Yield \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.090	0.090
Level 3 \| Debt Securities, Senior Secured \| Valuation, Market Approach \| Measurement Input, Market Yield \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.330	0.300
Level 3 \| Debt Securities, Senior Secured \| Valuation, Market Approach \| Measurement Input, Market Yield \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.140	0.137
Level 3 \| Debt Securities, Senior Secured \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 14,297	$ 14,333
Level 3 \| Debt Securities, Senior Secured \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	5.0	5.0
Level 3 \| Debt Securities, Senior Secured \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	7.0	7.0
Level 3 \| Debt Securities, Senior Secured \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	6.0	6.0
Level 3 \| Debt Securities, Senior Secured \| Valuation, Transaction Precedent \| Measurement Input, Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 38,581
Level 3 \| Debt Securities, Senior Secured \| Valuation, Broker Quotations \| Measurement Input, Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value		$ 297,125
Level 3 \| Debt Securities, Senior Secured \| Valuation, Broker Quotations \| Measurement Input, Broker Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	302,700
Level 3 \| Subordinated Debt \| Valuation, Market Approach \| Measurement Input, Market Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 13,706	$ 12,855
Level 3 \| Subordinated Debt \| Valuation, Market Approach \| Measurement Input, Market Yield \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.100	0.100
Level 3 \| Subordinated Debt \| Valuation, Market Approach \| Measurement Input, Market Yield \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.200	0.190
Level 3 \| Subordinated Debt \| Valuation, Market Approach \| Measurement Input, Market Yield \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.114	0.138
Level 3 \| Subordinated Debt \| Valuation, Broker Quotations \| Measurement Input, Broker Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 3,733
Level 3 \| Debt investments in the JVs \| Valuation, Enterprise Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	162,192	$ 146,533
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 73,822	$ 36,913
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	3.0	3.0
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	20.0	20.0
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, EBITDA Multiple \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	14.6	11.4
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 30,226	$ 61,693
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Revenue Multiple \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1	0.4
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Revenue Multiple \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	4.3	10.1
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Revenue Multiple \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.5	4.3
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Asset Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 1,600	$ 3
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Asset Multiple \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.9	0.9
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Asset Multiple \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.1	1.1
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Enterprise Value \| Measurement Input, Asset Multiple \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.0	1.0
Level 3 \| Equity Securities, Preferred & Common \| Valuation, Transaction Precedent \| Measurement Input, Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 1,619	$ 872

Portfolio Investments - Schedule of Financial Instruments Disclosed, but Carried at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Schedule of Investments [Line Items]
Carrying Value	$ 1,463,624	$ 1,301,043
Fair Value	1,443,569	1,277,105
Syndicated Facility
Schedule of Investments [Line Items]
Carrying Value	695,000	540,000
Fair Value	695,000	540,000
Citibank Facility
Schedule of Investments [Line Items]
Carrying Value	165,000	160,000
Fair Value	165,000	160,000
2025 Notes
Schedule of Investments [Line Items]
Carrying Value	297,303	296,991
Fair Value	286,734	283,077
2027 Notes
Schedule of Investments [Line Items]
Carrying Value	306,321	304,052
Fair Value	296,835	294,028
Level 1
Schedule of Investments [Line Items]
Fair Value	0	0
Level 1 \| Syndicated Facility
Schedule of Investments [Line Items]
Fair Value	0	0
Level 1 \| Citibank Facility
Schedule of Investments [Line Items]
Fair Value	0	0
Level 1 \| 2025 Notes
Schedule of Investments [Line Items]
Fair Value	0	0
Level 1 \| 2027 Notes
Schedule of Investments [Line Items]
Fair Value	0	0
Level 2
Schedule of Investments [Line Items]
Fair Value	583,569	577,105
Level 2 \| Syndicated Facility
Schedule of Investments [Line Items]
Fair Value	0	0
Level 2 \| Citibank Facility
Schedule of Investments [Line Items]
Fair Value	0	0
Level 2 \| 2025 Notes
Schedule of Investments [Line Items]
Fair Value	286,734	283,077
Level 2 \| 2027 Notes
Schedule of Investments [Line Items]
Fair Value	296,835	294,028
Level 3
Schedule of Investments [Line Items]
Fair Value	860,000	700,000
Level 3 \| Syndicated Facility
Schedule of Investments [Line Items]
Fair Value	695,000	540,000
Level 3 \| Citibank Facility
Schedule of Investments [Line Items]
Fair Value	165,000	160,000
Level 3 \| 2025 Notes
Schedule of Investments [Line Items]
Fair Value	0	0
Level 3 \| 2027 Notes
Schedule of Investments [Line Items]
Fair Value	$ 0	$ 0

Portfolio Investments - Portfolio Composition (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Investment owned, at cost	$ 131,077	$ 140,083
Investments at fair value	$ 123,339	$ 133,144
% of Total Net Assets	21.20%	7.24%	21.00%
International
Schedule of Investments [Line Items]
Investment owned, at cost	$ 350,510	$ 301,242
Investments at fair value	$ 330,698	$ 345,251
% of Total Net Assets	27.51%	27.72%
Investment Owned, At Cost \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	100.00%	100.00%
Investment Owned, At Cost \| Geographic Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	100.00%	100.00%
Investment Owned, At Cost \| Geographic Concentration Risk \| International
Schedule of Investments [Line Items]
Concentration risk	12.62%	11.51%
Investment Owned, At Fair Value \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	100.00%	100.00%
Investment Owned, At Fair Value \| Geographic Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	100.00%	100.00%
Investment Owned, At Fair Value \| Geographic Concentration Risk \| International
Schedule of Investments [Line Items]
Concentration risk	12.51%	13.84%
Debt Securities, Senior Secured
Schedule of Investments [Line Items]
Investment owned, at cost	$ 2,359,295	$ 2,227,245
Investments at fair value	$ 2,281,235	$ 2,166,409
% of Total Net Assets	189.78%	173.93%
Debt Securities, Senior Secured \| Investment Owned, At Cost \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	84.94%	85.08%
Debt Securities, Senior Secured \| Investment Owned, At Fair Value \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	86.32%	86.86%
Debt investments in the JVs
Schedule of Investments [Line Items]
Investment owned, at cost	$ 162,617	$ 146,444
Investments at fair value	$ 162,192	$ 146,533
% of Total Net Assets	13.49%	11.77%
Debt investments in the JVs \| Investment Owned, At Cost \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	5.85%	5.59%
Debt investments in the JVs \| Investment Owned, At Fair Value \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	6.14%	5.88%
Equity Securities, Preferred
Schedule of Investments [Line Items]
Investment owned, at cost	$ 87,878	$ 85,300
Investments at fair value	$ 80,625	$ 79,523
% of Total Net Assets	6.71%	6.38%
Equity Securities, Preferred \| Investment Owned, At Cost \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	3.16%	3.26%
Equity Securities, Preferred \| Investment Owned, At Fair Value \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	3.05%	3.19%
Debt Securities, Subordinated
Schedule of Investments [Line Items]
Investment owned, at cost	$ 68,956	$ 67,147
Investments at fair value	$ 62,145	$ 56,920
% of Total Net Assets	5.17%	4.57%
Debt Securities, Subordinated \| Investment Owned, At Cost \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.48%	2.57%
Debt Securities, Subordinated \| Investment Owned, At Fair Value \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.35%	2.28%
Equity Securities, JV LLC
Schedule of Investments [Line Items]
Investment owned, at cost	$ 54,791	$ 49,322
Investments at fair value	$ 32,565	$ 24,011
% of Total Net Assets	2.71%	1.93%
Equity Securities, JV LLC \| Investment Owned, At Cost \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.97%	1.88%
Equity Securities, JV LLC \| Investment Owned, At Fair Value \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.23%	0.96%
Equity Securities, Common And Warrants
Schedule of Investments [Line Items]
Investment owned, at cost	$ 44,477	$ 42,296
Investments at fair value	$ 24,108	$ 20,715
% of Total Net Assets	2.01%	1.66%
Equity Securities, Common And Warrants \| Investment Owned, At Cost \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.60%	1.62%
Equity Securities, Common And Warrants \| Investment Owned, At Fair Value \| Investment Type Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.91%	0.83%

Portfolio Investments - Portfolio of Investments by Industry (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Investment owned, at cost	$ 131,077	$ 140,083
Investments at fair value	$ 123,339	$ 133,144
% of Total Net Assets	21.20%	7.24%	21.00%
Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	100.00%	100.00%
Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	100.00%	100.00%
Application Software Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 435,165	$ 391,938
Investments at fair value	$ 422,862	$ 384,589
% of Total Net Assets	35.18%	30.87%
Application Software Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	15.95%	15.43%
Application Software Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	15.66%	14.98%
Multi-Sector Holdings
Schedule of Investments [Line Items]
Investment owned, at cost	$ 229,676	$ 195,766
Investments at fair value	$ 198,904	$ 167,248
% of Total Net Assets	16.55%	13.43%
Multi-Sector Holdings \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	7.53%	6.71%
Multi-Sector Holdings \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	8.27%	7.48%
Pharmaceuticals Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 131,307	$ 126,508
Investments at fair value	$ 127,414	$ 119,511
% of Total Net Assets	10.60%	9.59%
Pharmaceuticals Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	4.82%	4.79%
Pharmaceuticals Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	4.73%	4.83%
Data Processing & Outsourced Services
Schedule of Investments [Line Items]
Investment owned, at cost	$ 118,058	$ 120,477
Investments at fair value	$ 115,489	$ 108,465
% of Total Net Assets	9.61%	8.71%
Data Processing & Outsourced Services \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	4.37%	4.35%
Data Processing & Outsourced Services \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	4.25%	4.60%
Biotechnology Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 111,745	$ 109,960
Investments at fair value	$ 106,224	$ 111,335
% of Total Net Assets	8.84%	8.94%
Biotechnology Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	4.02%	4.46%
Biotechnology Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	4.02%	4.20%
Health Care Technology Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 110,251	$ 100,084
Investments at fair value	$ 103,479	$ 97,315
% of Total Net Assets	8.61%	7.81%
Health Care Technology Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	3.92%	3.90%
Health Care Technology Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	3.97%	3.82%
Specialized Finance Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 87,523	$ 80,864
Investments at fair value	$ 79,791	$ 81,008
% of Total Net Assets	6.64%	6.50%
Specialized Finance Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	3.02%	3.25%
Specialized Finance Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	3.15%	3.09%
Industrial Machinery Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 81,483	$ 81,787
Investments at fair value	$ 79,751	$ 73,087
% of Total Net Assets	6.63%	5.87%
Industrial Machinery Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	3.02%	2.93%
Industrial Machinery Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.93%	3.12%
Health Care Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 65,732	$ 58,674
Investments at fair value	$ 66,001	$ 70,419
% of Total Net Assets	5.49%	5.65%
Health Care Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.50%	2.82%
Health Care Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.37%	2.24%
Internet & Direct Marketing Retail
Schedule of Investments [Line Items]
Investment owned, at cost	$ 65,585	$ 67,926
Investments at fair value	$ 61,490	$ 61,881
% of Total Net Assets	5.12%	4.97%
Internet & Direct Marketing Retail \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.33%	2.48%
Internet & Direct Marketing Retail \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.36%	2.59%
Aerospace & Defense Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 61,993	$ 61,963
Investments at fair value	$ 60,938	$ 61,188
% of Total Net Assets	5.07%	4.91%
Aerospace & Defense Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.31%	2.45%
Aerospace & Defense Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.23%	2.37%
Construction & Engineering Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 60,828	$ 60,996
Investments at fair value	$ 54,898	$ 54,662
% of Total Net Assets	4.57%	4.39%
Construction & Engineering Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.08%	2.19%
Construction & Engineering Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.19%	2.33%
Health Care Distributors Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 58,320	$ 57,112
Investments at fair value	$ 54,080	$ 24,326
% of Total Net Assets	4.50%	1.95%
Health Care Distributors Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.05%	0.98%
Health Care Distributors Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.10%	2.18%
Other Diversified Financial Services
Schedule of Investments [Line Items]
Investment owned, at cost	$ 57,241	$ 29,300
Investments at fair value	$ 52,292	$ 51,972
% of Total Net Assets	4.35%	4.17%
Other Diversified Financial Services \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.98%	2.08%
Other Diversified Financial Services \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	2.06%	1.12%
Personal Products Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 53,190	$ 53,214
Investments at fair value	$ 51,260	$ 45,943
% of Total Net Assets	4.26%	3.69%
Personal Products Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.94%	1.84%
Personal Products Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.91%	2.03%
Automotive Retail Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 51,663	$ 59,254
Investments at fair value	$ 50,681	$ 57,629
% of Total Net Assets	4.22%	4.63%
Automotive Retail Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.92%	2.31%
Automotive Retail Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.86%	2.26%
Auto Parts & Equipment Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 51,067	$ 12,474
Investments at fair value	$ 50,127	$ 48,062
% of Total Net Assets	4.17%	3.86%
Auto Parts & Equipment Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.90%	1.93%
Auto Parts & Equipment Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.84%	0.48%
Real Estate Operating Companies Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 49,980	$ 47,585
Investments at fair value	$ 50,015	$ 11,469
% of Total Net Assets	4.16%	0.92%
Real Estate Operating Companies Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.89%	0.46%
Real Estate Operating Companies Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.80%	1.82%
Fertilizers & Agricultural Chemicals Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 49,271	$ 49,301
Investments at fair value	$ 48,973	$ 53,797
% of Total Net Assets	4.07%	4.32%
Fertilizers & Agricultural Chemicals Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.85%	2.16%
Fertilizers & Agricultural Chemicals Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.77%	1.88%
Internet Services & Infrastructure Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 49,271	$ 54,095
Investments at fair value	$ 48,903	$ 50,150
% of Total Net Assets	4.07%	4.03%
Internet Services & Infrastructure Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.85%	2.01%
Internet Services & Infrastructure Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.77%	2.07%
Metal & Glass Containers Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 47,128	$ 47,704
Investments at fair value	$ 45,127	$ 45,421
% of Total Net Assets	3.75%	3.65%
Metal & Glass Containers Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.71%	1.82%
Metal & Glass Containers Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.70%	1.82%
Home Improvement Retail Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 45,266	$ 45,802
Investments at fair value	$ 44,763	$ 47,599
% of Total Net Assets	3.72%	3.82%
Home Improvement Retail Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.69%	1.91%
Home Improvement Retail Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.63%	1.75%
Soft Drinks Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 43,935	$ 34,272
Investments at fair value	$ 44,387	$ 33,670
% of Total Net Assets	3.69%	2.70%
Soft Drinks Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.68%	1.35%
Soft Drinks Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.58%	1.31%
Airport Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 43,748	$ 43,322
Investments at fair value	$ 43,267	$ 42,883
% of Total Net Assets	3.60%	3.44%
Airport Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.64%	1.72%
Airport Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.57%	1.65%
Leisure Facilities Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 41,182	$ 39,768
Investments at fair value	$ 40,578	$ 39,258
% of Total Net Assets	3.38%	3.15%
Leisure Facilities Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.54%	1.57%
Leisure Facilities Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.48%	1.52%
Insurance Brokers Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 39,268	$ 35,628
Investments at fair value	$ 39,057	$ 33,081
% of Total Net Assets	3.25%	2.66%
Insurance Brokers Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.48%	1.33%
Insurance Brokers Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.41%	1.36%
Diversified Support Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 38,167	$ 37,992
Investments at fair value	$ 37,776	$ 36,577
% of Total Net Assets	3.14%	2.94%
Diversified Support Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.43%	1.47%
Diversified Support Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.37%	1.45%
Specialty Chemicals Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 37,298	$ 37,319
Investments at fair value	$ 35,626	$ 36,712
% of Total Net Assets	2.96%	2.95%
Specialty Chemicals Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.35%	1.47%
Specialty Chemicals Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.34%	1.43%
Health Care Supplies Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 36,693	$ 36,471
Investments at fair value	$ 35,621	$ 39,573
% of Total Net Assets	2.96%	3.18%
Health Care Supplies Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.35%	1.59%
Health Care Supplies Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.32%	1.39%
Real Estate Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 36,233	$ 40,243
Investments at fair value	$ 32,970	$ 32,933
% of Total Net Assets	2.74%	2.64%
Real Estate Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.25%	1.32%
Real Estate Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.30%	1.54%
Integrated Telecommunication Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 34,635	$ 34,628
Investments at fair value	$ 32,041	$ 32,201
% of Total Net Assets	2.67%	2.59%
Integrated Telecommunication Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.21%	1.29%
Integrated Telecommunication Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.25%	1.32%
Electrical Components & Equipment Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 33,813	$ 33,814
Investments at fair value	$ 31,476	$ 33,969
% of Total Net Assets	2.62%	2.73%
Electrical Components & Equipment Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.19%	1.36%
Electrical Components & Equipment Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.22%	1.29%
Advertising Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 27,507	$ 28,245
Investments at fair value	$ 26,470	$ 26,645
% of Total Net Assets	2.20%	2.14%
Advertising Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	1.00%	1.07%
Advertising Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.99%	1.08%
Movies & Entertainment Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 26,202	$ 26,161
Investments at fair value	$ 26,022	$ 26,948
% of Total Net Assets	2.16%	2.16%
Movies & Entertainment Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.98%	1.08%
Movies & Entertainment Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.94%	1.00%
Distributors Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 25,262	$ 25,278
Investments at fair value	$ 25,864	$ 0
% of Total Net Assets	2.15%	0.00%
Distributors Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.98%	0.00%
Distributors Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.91%	0.97%
Airlines Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 24,034	$ 0
Investments at fair value	$ 24,569	$ 24,494
% of Total Net Assets	2.04%	1.97%
Airlines Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.93%	0.98%
Airlines Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.87%	0.00%
Health Care Equipment Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 21,838	$ 24,353
Investments at fair value	$ 22,703	$ 24,161
% of Total Net Assets	1.89%	1.94%
Health Care Equipment Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.86%	0.97%
Health Care Equipment Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.79%	0.93%
Environmental & Facilities Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 21,156	$ 20,857
Investments at fair value	$ 20,675	$ 20,585
% of Total Net Assets	1.72%	1.65%
Environmental & Facilities Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.78%	0.83%
Environmental & Facilities Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.76%	0.80%
Oil & Gas Storage & Transportation Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 19,934	$ 22,290
Investments at fair value	$ 18,113	$ 20,853
% of Total Net Assets	1.51%	1.67%
Oil & Gas Storage & Transportation Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.69%	0.84%
Oil & Gas Storage & Transportation Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.72%	0.85%
Home Furnishings Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 19,554	$ 19,550
Investments at fair value	$ 17,917	$ 18,188
% of Total Net Assets	1.49%	1.46%
Home Furnishings Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.68%	0.73%
Home Furnishings Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.70%	0.75%
System Software Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 14,895	$ 14,890
Investments at fair value	$ 13,904	$ 13,985
% of Total Net Assets	1.16%	1.12%
System Software Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.53%	0.56%
System Software Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.54%	0.57%
Consumer Finance Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 14,503	$ 14,492
Investments at fair value	$ 12,104	$ 12,834
% of Total Net Assets	1.01%	1.03%
Consumer Finance Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.46%	0.51%
Consumer Finance Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.52%	0.55%
Hotels, Resorts & Cruise Lines Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 13,943	$ 13,960
Investments at fair value	$ 11,439	$ 13,284
% of Total Net Assets	0.95%	1.07%
Hotels, Resorts & Cruise Lines Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.43%	0.53%
Hotels, Resorts & Cruise Lines Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.50%	0.53%
IT Consulting & Other Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 11,684	$ 11,697
Investments at fair value	$ 8,938	$ 8,582
% of Total Net Assets	0.74%	0.69%
IT Consulting & Other Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.34%	0.34%
IT Consulting & Other Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.42%	0.45%
Restaurants Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 9,343	$ 9,338
Investments at fair value	$ 8,610	$ 8,692
% of Total Net Assets	0.72%	0.70%
Restaurants Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.33%	0.35%
Restaurants Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.34%	0.36%
Education Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 9,070	$ 9,080
Investments at fair value	$ 7,968	$ 19,576
% of Total Net Assets	0.66%	1.57%
Education Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.30%	0.78%
Education Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.33%	0.35%
Cable & Satellite Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 8,012	$ 20,716
Investments at fair value	$ 7,165	$ 8,573
% of Total Net Assets	0.60%	0.69%
Cable & Satellite Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.27%	0.34%
Cable & Satellite Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.29%	0.79%
Research & Consulting Services Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 7,848	$ 9,187
Investments at fair value	$ 6,963	$ 8,596
% of Total Net Assets	0.58%	0.69%
Research & Consulting Services Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.26%	0.34%
Research & Consulting Services Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.28%	0.35%
Apparel, Accessories & Luxury Goods Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 5,165	$ 5,165
Investments at fair value	$ 4,847	$ 4,872
% of Total Net Assets	0.40%	0.39%
Apparel, Accessories & Luxury Goods Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.18%	0.20%
Apparel, Accessories & Luxury Goods Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.19%	0.20%
Air Freight & Logistics Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 4,925	$ 7,295
Investments at fair value	$ 4,675	$ 5,223
% of Total Net Assets	0.39%	0.42%
Air Freight & Logistics Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.18%	0.21%
Air Freight & Logistics Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.18%	0.28%
Integrated Oil & Gas Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 4,873	$ 4,866
Investments at fair value	$ 4,267	$ 0
% of Total Net Assets	0.35%	0.00%
Integrated Oil & Gas Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.16%	0.00%
Integrated Oil & Gas Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.18%	0.19%
Apparel Retail Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 4,727	$ 5,268
Investments at fair value	$ 4,191	$ 6,405
% of Total Net Assets	0.35%	0.51%
Apparel Retail Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.16%	0.26%
Apparel Retail Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.17%	0.20%
Food Distributors Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 4,655	$ 4,646
Investments at fair value	$ 3,599	$ 3,367
% of Total Net Assets	0.30%	0.27%
Food Distributors Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.14%	0.13%
Food Distributors Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.17%	0.18%
Specialized REITs Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 4,334	$ 4,318
Investments at fair value	$ 3,315	$ 3,402
% of Total Net Assets	0.28%	0.27%
Specialized REITs Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.13%	0.14%
Specialized REITs Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.16%	0.16%
Real Estate Development Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 4,278	$ 0
Investments at fair value	$ 3,230	$ 3,264
% of Total Net Assets	0.27%	0.26%
Real Estate Development Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.12%	0.13%
Real Estate Development Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.15%	0.00%
Diversified Banks Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 3,515	$ 3,515
Investments at fair value	$ 2,971	$ 2,997
% of Total Net Assets	0.25%	0.24%
Diversified Banks Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.11%	0.12%
Diversified Banks Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.13%	0.13%
Technology Distributors Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 3,163	$ 3,163
Investments at fair value	$ 2,265	$ 2,456
% of Total Net Assets	0.19%	0.20%
Technology Distributors Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.09%	0.10%
Technology Distributors Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.11%	0.12%
Construction Materials Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 2,353	$ 2,331
Investments at fair value	$ 1,928	$ 1,934
% of Total Net Assets	0.16%	0.16%
Construction Materials Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.07%	0.08%
Construction Materials Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.08%	0.09%
Housewares & Specialties Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 2,217	$ 2,293
Investments at fair value	$ 1,712	$ 1,890
% of Total Net Assets	0.14%	0.15%
Housewares & Specialties Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.06%	0.08%
Housewares & Specialties Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.08%	0.09%
Electronic Components Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 2,095	$ 2,092
Investments at fair value	$ 185	$ 201
% of Total Net Assets	0.02%	0.02%
Electronic Components Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.01%	0.01%
Electronic Components Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.08%	0.08%
Alternative Carriers Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 214	$ 212
Investments at fair value	$ 0	$ 8,604
% of Total Net Assets	0.00%	0.69%
Alternative Carriers Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.00%	0.34%
Alternative Carriers Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.01%	0.01%
Oil & Gas Refining & Marketing Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 0	$ 8,627
Investments at fair value	$ 0	$ 5,567
% of Total Net Assets	0.00%	0.45%
Oil & Gas Refining & Marketing Sector \| Investment Owned, At Fair Value \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.00%	0.22%
Oil & Gas Refining & Marketing Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.00%	0.33%
Trading Companies & Distributors Sector
Schedule of Investments [Line Items]
Investment owned, at cost	$ 0	$ 7,628
Trading Companies & Distributors Sector \| Investment Owned, At Cost \| Investment Sector Concentration Risk
Schedule of Investments [Line Items]
Concentration risk	0.00%	0.29%

Fee Income (Details) - USD ($) $ in Millions	3 Months Ended
Fee Income (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Recurring fee income	$ 0.2	$ 0.2

Share Data and Net Assets - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Earnings (loss) per common share — basic and diluted:

Net increase (decrease) in net assets resulting from operations

$ 0

Weighted average common shares outstanding - basic (shares)

^[1]

61,142,000

60,127,000

Weighted average common shares outstanding - diluted (shares)

^[1]

61,142,000

60,127,000

Earnings (loss) per common share - basic (dollars per share)

^[1]

$ 0.22

$ 0.66

Earnings (loss) per common share - diluted (dollars per share)

^[1]

$ 0.22

$ 0.66

[1]	(1) As discussed in Note 2, the Company completed a 1-for-3 reverse stock split on January 20, 2023, effective as of the commencement of trading on January 23, 2023. The weighted average common shares outstanding and per share information reflect the reverse stock split on a retroactive basis.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Share Data and Net Assets - Narrative (Details) - USD ($) $ in Millions			3 Months Ended
	Feb. 07, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Issuance of common stock under dividend reinvestment plan (shares)		35,990,000	94,879,000	35,990,000
Aggregate offering price	$ 125.0

Borrowings (Details) - USD ($) $ in Thousands			3 Months Ended
Borrowings (Details) - USD ($) $ in Thousands	May 18, 2021	Feb. 25, 2020	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Line of Credit Facility [Line Items]
Borrowings outstanding			$ 76,082		$ 82,082
Interest rate swap
Line of Credit Facility [Line Items]
Interest rate			2.70%		2.70%
Floating interest rate			1.658%		1.658%
Notional amount			$ 350,000		$ 350,000
Interest rate swap \| Designated as Hedging Instrument
Line of Credit Facility [Line Items]
Interest rate	2.70%
Notional amount	$ 350,000
London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate			2.00%
London Interbank Offered Rate (LIBOR) \| Interest rate swap \| Designated as Hedging Instrument
Line of Credit Facility [Line Items]
Floating interest rate	1.658%
Base Rate
Line of Credit Facility [Line Items]
Interest rate			1.00%
2025 Notes
Line of Credit Facility [Line Items]
Principal amount		$ 300,000	$ 300,000		300,000
Net proceeds		293,800
Unaccreted discount		2,500	$ 1,100		1,200
Underwriting commissions		3,000
Offering costs		$ 700
Coupon interest rate (net of effect of interest rate swap for 2027 Notes)		3.50%	3.50%
Redemption price		100.00%
2027 Notes
Line of Credit Facility [Line Items]
Principal amount	$ 350,000		$ 350,000		350,000
Net proceeds	344,800
Unaccreted discount	1,000		$ 700		700
Underwriting commissions	3,500
Offering costs	$ 700
Coupon interest rate (net of effect of interest rate swap for 2027 Notes)	2.70%		2.70%
Redemption price	100.00%
Line of Credit \| Revolving Credit Facility \| Syndicated Facility
Line of Credit Facility [Line Items]
Borrowing capacity			$ 1,000,000
Accordion feature, increase limit			1,250,000
Borrowings outstanding			695,000		540,000
Fair value			$ 695,000		540,000
Weighted average interest rate			5.849%	2.174%
Interest expense inclusive of fees			$ 10,000	$ 3,800
Debt instrument, covenant, total assets to total indebtedness, ratio, minimum threshold			1.50
Debt instrument, covenant, consolidated EBITDA to consolidated interest expense, ratio, minimum threshold			2.25
Line of Credit \| Revolving Credit Facility \| Citibank Facility
Line of Credit Facility [Line Items]
Borrowing capacity			$ 200,000
Borrowings outstanding			165,000		160,000
Fair value			$ 165,000		$ 160,000
Weighted average interest rate			6.508%		1.83%
Interest expense inclusive of fees			$ 2,700	$ 800
Unused capacity, commitment fee			0.50%
Line of Credit \| Revolving Credit Facility \| Citibank Facility, Broadly Syndicated Loans \| London Interbank Offered Rate (LIBOR) \| Minimum
Line of Credit Facility [Line Items]
Interest rate			1.25%
Line of Credit \| Revolving Credit Facility \| Citibank Facility, Broadly Syndicated Loans \| London Interbank Offered Rate (LIBOR) \| Maximum
Line of Credit Facility [Line Items]
Interest rate			2.20%
Line of Credit \| Revolving Credit Facility \| Citibank Facility, Other Eligible Loans \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate			2.25%

Borrowings - Components of the Carrying Value of Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022	May 18, 2021	Feb. 25, 2020
Debt Instrument [Line Items]
Unamortized financing costs	$ (4,650)	$ (5,020)
Net carrying value	1,463,624	1,301,043
2025 Notes
Debt Instrument [Line Items]
Principal amount	300,000	300,000		$ 300,000
Unamortized financing costs	(1,600)	(1,800)
Unaccreted discount	(1,100)	(1,200)		$ (2,500)
Interest rate swap fair value adjustment	0	0
Net carrying value	297,300	297,000
Fair Value	286,700	283,100
2027 Notes
Debt Instrument [Line Items]
Principal amount	350,000	350,000	$ 350,000
Unamortized financing costs	(3,100)	(3,200)
Unaccreted discount	(700)	(700)	$ (1,000)
Interest rate swap fair value adjustment	(39,900)	(42,000)
Net carrying value	306,300	304,100
Fair Value	$ 296,800	$ 294,000

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Borrowings - Components of Interest and Other Debt Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Effect of interest rate swap	$ 2.5	$ (0.7)
2025 Notes
Debt Instrument [Line Items]
Coupon interest	2.6	2.6
Amortization of financing costs and discount	0.3	0.3
Total interest expense	$ 2.9	$ 2.9
Coupon interest rate	3.50%	3.50%
2027 Notes
Debt Instrument [Line Items]
Coupon interest	$ 2.4	$ 2.4
Amortization of financing costs and discount	0.2	0.2
Total interest expense	$ 5.1	$ 1.9
Coupon interest rate	5.586%	1.782%

Taxable/Distributable Income and Dividend Distributions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Investments, Owned, Federal Income Tax Note [Line Items]
Undistributed ordinary income, net	$ 523,700
Valuation allowance	11,400
Deferred tax assets	13,100
Deferred tax asset, net	1,722		$ 1,687
Income tax expense (benefit)		$ (1,400)
Deferred taxes	35	$ 959
Cost of investments			2,654,300
Unrealized appreciation			466,900
Unrealized depreciation			620,000
Unrealized appreciation (depreciation)			$ 153,100
Short-Term Capital Loss Carryforward
Investments, Owned, Federal Income Tax Note [Line Items]
Undistributed ordinary income, net	64,500
Long-Term Capital Loss Carryforward
Investments, Owned, Federal Income Tax Note [Line Items]
Undistributed ordinary income, net	$ 459,200

Taxable/Distributable Income and Dividend Distributions - Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net increase (decrease) in net assets resulting from operations	$ 0	$ 0
Net unrealized (appreciation) depreciation	22,982	4,586
Book/tax difference due to organizational costs	0	(22)
Book/tax difference due to capital losses utilized	8,013	(10,531)
Other book/tax differences	(12,910)	(11,171)
Taxable/Distributable Income	$ 31,257	$ 22,270

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Taxable/Distributable Income and Dividend Distributions - Components of Accumulated Overdistributed Earnings (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Undistributed ordinary income, net		$ (43,624)
Net realized capital losses		473,274
Unrealized losses, net		153,119
Accumulated overdistributed earnings	$ 628,276	$ 582,769

Related Party Transactions (Details)			3 Months Ended
Related Party Transactions (Details)	Mar. 19, 2021 USD ($)	May 03, 2019	Dec. 31, 2022 USD ($) component	Dec. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)
Related Party Transaction [Line Items]
Base management fee and incentive fee payable			$ 16,871,000	$ 15,900,000	$ 15,940,000
Related party transaction, termination, notice period			60 days
Base management fee, threshold		200.00%
Base management fee			$ 9,917,000	9,952,000
Part I incentive fee			7,703,000	6,457,000
Administrator expense			400,000	500,000
General and administrative expenses			100,000	100,000
Due to affiliate			$ 3,260,000		$ 3,180,000
Oaktree Strategic Income Corporation Merger
Related Party Transaction [Line Items]
Investment company, contractual fee waived	$ 6,000,000
Contractual fee waived, period otherwise receivable	2 years
Contractual fee waived, per quarter	$ 750,000
Oaktree Strategic Income II, Inc. Merger
Related Party Transaction [Line Items]
Investment company, contractual fee waived	9,000,000
Oaktree Strategic Income II, Inc Merger, Year One
Related Party Transaction [Line Items]
Investment company, contractual fee waived	6,000,000
Contractual fee waived, per quarter	1,500,000
Oaktree Strategic Income II, Inc Merger, Year Two
Related Party Transaction [Line Items]
Investment company, contractual fee waived	3,000,000
Contractual fee waived, per quarter	$ 750,000
Investment Advisory Agreement
Related Party Transaction [Line Items]
Number of components \| component			2
Related party transaction, termination, notice period			60 days
Base management fee			$ 9,200,000	9,200,000
Part I incentive fee			7,700,000	$ 6,500,000
Incentive fee expense			$ 9,600,000

Financial Highlights (Details)
$ / shares in Units, $ in Thousands

3 Months Ended

Jan. 20, 2023

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Investment Company, Financial Highlights [Roll Forward]

Net asset value per share at beginning of period (dollars per share)

$ 20.38

$ 21.84

Net investment income per common share - basic and diluted (dollars per share)

^[1]

0.63

0.54

Net unrealized appreciation (depreciation) (dollars per share)

(0.38)

(0.08)

Net realized gains (losses) (dollars per share)

(0.05)

0.16

(Provision) benefit for taxes on realized and unrealized gains (losses) (dollars per share)

0.01

0.04

Amount per share (dollars per share)

$ (0.465)

(0.96)

(0.465)

Net asset value per share at end of period (dollars per share)

$ 22.03

$ 19.63

$ 22.03

Total return

19.90%

7.92%

Common shares outstanding at beginning of period (shares) | shares

61,125,000

60,120,000

Common shares outstanding at end of period (shares) | shares

60,156,000

61,220,000

60,156,000

Net assets at beginning of period | $

$ 1,245,563

$ 1,312,823

Net assets at end of period | $

$ 1,325,061

1,201,989

1,325,061

Average net assets | $

$ 1,241,806

$ 1,327,934

Ratio of net investment income to average net assets

12.40%

9.65%

Ratio of total expenses to average net assets

13.11%

8.99%

Ratio of net expenses to average net assets

12.87%

8.77%

Ratio of portfolio turnover to average investments at fair value

4.24%

9.14%

Weighted average outstanding debt | $

$ 1,441,326

$ 1,331,141

Average debt per share (dollars per share)

$ 23.57

$ 22.14

Subsequent Event

Investment Company, Financial Highlights [Roll Forward]

Common shares outstanding at end of period (shares) | shares

61,219,605

Stock split, conversion ratio

0.0033

[1]	(1) As discussed in Note 2, the Company completed a 1-for-3 reverse stock split on January 20, 2023, effective as of the commencement of trading on January 23, 2023. The weighted average common shares outstanding and per share information reflect the reverse stock split on a retroactive basis.

Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Due from broker	$ 39,760	$ 45,530

Derivative Instruments - Schedule of Foreign Currency Forward Contracts and Interest Rate Swap (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount to be Purchased	$ 46,412	$ 45,692
Notional Amount to be Sold	39,965	37,033
Gross Amount of Recognized Assets		6,789
Gross Amount of Recognized Liabilities	(4,211)	6,789
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	350,000	350,000
Gross Amount of Recognized Liabilities	$ 39,928	$ 41,969

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments	$ 198,868	$ 224,239
Debt and Equity Financing
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments	171,800	175,200
JV Financing
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments	$ 27,100	$ 49,000

Commitments and Contingencies - Schedule of Unfunded Commitments by Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments	$ 198,868	$ 224,239

Subsequent Events (Details) $ / shares in Units, $ in Thousands	May 26, 2023	Jan. 27, 2023 $ / shares	Jan. 23, 2023 USD ($) shares	Jan. 20, 2023 shares	Mar. 19, 2021 USD ($)	Dec. 31, 2022 USD ($) shares	Sep. 30, 2022 USD ($) shares	Dec. 31, 2021 shares	Sep. 30, 2021 shares
Subsequent Event [Line Items]
Common shares outstanding at end of period (shares) \| shares						61,220,000	61,125,000	60,156,000	60,120,000
Credit facilities payable						$ 76,082	$ 82,082
Oaktree Strategic Income II, Inc. Merger
Subsequent Event [Line Items]
Investment company, contractual fee waived					$ 9,000
Subsequent Event
Subsequent Event [Line Items]
Common stock, dividends, per share, declared (in dollars per share) \| $ / shares		$ 0.55
Common shares outstanding at end of period (shares) \| shares			77,079,805	61,219,605
Stock split, conversion ratio				0.0033
Subsequent Event \| OSI2 Merger
Subsequent Event [Line Items]
Consideration transferred, per share (in shares) \| shares			0.9115
Number of shares issued (in shares) \| shares			15,860,200
Subsequent Event \| OSI2 Citibank Facility \| Line of Credit \| Revolving Credit Facility
Subsequent Event [Line Items]
Borrowing capacity			$ 250,000
Debt instrument, basis spread, variable rate			1.85%
Commitment fee, unused capacity threshold percentage			30.00%
Credit facilities payable			$ 225,000
Unused capacity, commitment fee			0.50%
Subsequent Event \| OSI2 Citibank Facility \| Line of Credit \| Revolving Credit Facility \| Forecast
Subsequent Event [Line Items]
Debt instrument, basis spread, variable rate	3.00%
Subsequent Event \| OSI2 Citibank Facility, Syndicated Loans \| Line of Credit \| Revolving Credit Facility
Subsequent Event [Line Items]
Debt instrument, basis spread, variable rate			1.65%
Subsequent Event \| OSI2 Citibank Facility, All Other Loans \| Line of Credit \| Revolving Credit Facility
Subsequent Event [Line Items]
Debt instrument, basis spread, variable rate			2.25%
Subsequent Event \| Oaktree Strategic Income II, Inc. Merger
Subsequent Event [Line Items]
Investment company, contractual fee waived			$ 9,000

Schedule 12-14 - Schedule of Investments in and Advances to Affiliates (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Sep. 30, 2022

Schedule of Investments [Line Items]

Investment owned, balance (in shares)

7,193,539.63

1,080,399

7,193,539.63

Investment owned, ownership percentage

87.50%

Investment owned, exercise price (in dollars per share)

$ 0.01

^{[1],[2],[3],[4],[5],[6]}

$ 3.3778

$ 0.01

^{[7],[8],[9],[10],[11],[12]}

Cash Interest Rate

9.73%

7.75%

10.56%

Principal

$ 207,466

$ 196,670

Amount of Interest, Fees or Dividends Credited in Income

6,276

7,748

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value, Beginning Balance

240,361

289,054

Gross Additions

22,330

5,074

Gross Reductions

(7,056)

(16,539)

Fair Value, Ending Balance

$ 255,635

$ 277,589

% of Total Net Assets

21.20%

21.00%

7.24%

[1]	As of December 31, 2022, these investments were categorized as Level 3 within the fair value hierarchy established by Financial Accounting Standards Board ("FASB") guidance under Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("ASC 820").
[2]	All debt investments are income producing unless otherwise noted. All equity investments are non-income producing unless otherwise noted.
[3]	Each of the Company's investments is pledged as collateral under one or more of its credit facilities. A single investment may be divided into parts that are individually pledged as collateral to separate credit facilities.
[4]	Equity ownership may be held in shares or units of companies related to the portfolio companies.
[5]	Interest rates may be adjusted from period to period on certain term loans and revolvers. These rate adjustments may be either temporary in nature due to tier pricing arrangements or financial or payment covenant violations in the original credit agreements or permanent in nature per loan amendment or waiver documents.
[6]	See Note 3 in the accompanying notes to the Consolidated Financial Statements for portfolio composition by geographic region.
[7]	All debt investments are income producing unless otherwise noted. All equity investments are non-income producing unless otherwise noted.
[8]	As of September 30, 2022, these investments were categorized as Level 3 within the fair value hierarchy established by FASB guidance under ASC 820.
[9]	Each of the Company's investments is pledged as collateral under one or more of its credit facilities. A single investment may be divided into parts that are individually pledged as collateral to separate credit facilities.
[10]	Equity ownership may be held in shares or units of companies related to the portfolio companies.
[11]	Interest rates may be adjusted from period to period on certain term loans and revolvers. These rate adjustments may be either temporary in nature due to tier pricing arrangements or financial or payment covenant violations in the original credit agreements or permanent in nature per loan amendment or waiver documents.
[12]	See Note 3 in the accompanying notes to the Consolidated Financial Statements for portfolio composition by geographic region.

Label	Element	Value
Other Income	us-gaap_OtherIncome	$ 0
Other Income	us-gaap_OtherIncome	11,000
Other Income	us-gaap_OtherIncome	0
Other Income	us-gaap_OtherIncome	0
Interest Income, Operating	us-gaap_InterestIncomeOperating	8,781,000
Interest Income, Operating	us-gaap_InterestIncomeOperating	5,423,000
Interest Income, Operating	us-gaap_InterestIncomeOperating	3,403,000
Interest Income, Operating	us-gaap_InterestIncomeOperating	$ 2,160,000
Investment Company, Number Of Borrowers	ocsl_InvestmentCompanyNumberOfBorrowers	156
Investment Company, Number Of Borrowers	ocsl_InvestmentCompanyNumberOfBorrowers	149
Investment Company, Number Of Borrowers	ocsl_InvestmentCompanyNumberOfBorrowers	59
Investment Company, Number Of Borrowers	ocsl_InvestmentCompanyNumberOfBorrowers	60
Investment Company, Number Of Borrowers	ocsl_InvestmentCompanyNumberOfBorrowers	40
Investment Company, Number Of Borrowers	ocsl_InvestmentCompanyNumberOfBorrowers	43
Notes Payable	us-gaap_NotesPayable	$ 128,750,000
Notes Payable	us-gaap_NotesPayable	110,000,000
Notes Payable	us-gaap_NotesPayable	56,614,000
Notes Payable	us-gaap_NotesPayable	57,463,000
Gain (Loss) on Sale of Investments	us-gaap_GainLossOnSaleOfInvestments	(100,000)
Gain (Loss) on Sale of Investments	us-gaap_GainLossOnSaleOfInvestments	500,000
Proceeds from (Repayments of) Debt	us-gaap_ProceedsFromRepaymentsOfDebt	128,750,000
Proceeds from (Repayments of) Debt	us-gaap_ProceedsFromRepaymentsOfDebt	110,000,000
Proceeds from (Repayments of) Debt	us-gaap_ProceedsFromRepaymentsOfDebt	67,485,000
Proceeds from (Repayments of) Debt	us-gaap_ProceedsFromRepaymentsOfDebt	$ 68,185,000
Number Of Board Of Directors Selected By Company	ocsl_NumberOfBoardOfDirectorsSelectedByCompany	2
Number Of Board Of Directors Selected By Company	ocsl_NumberOfBoardOfDirectorsSelectedByCompany	2
Investment Company, Financial Support Funded For Investee By Company And Counterparty, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeByCompanyAndCounterpartyAmount	$ 190,500,000
Investment Company, Financial Support Funded For Investee By Company And Counterparty, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeByCompanyAndCounterpartyAmount	165,500,000
Investment Company, Financial Support Funded For Investee By Company And Counterparty, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeByCompanyAndCounterpartyAmount	84,000,000
Investment Company, Financial Support Funded For Investee By Company And Counterparty, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeByCompanyAndCounterpartyAmount	84,000,000
Other Liabilities	us-gaap_OtherLiabilities	27,094,000
Other Liabilities	us-gaap_OtherLiabilities	21,539,000
Other Liabilities	us-gaap_OtherLiabilities	4,759,000
Other Liabilities	us-gaap_OtherLiabilities	$ 7,263,000
Number Of Board Of Directors	ocsl_NumberOfBoardOfDirectors	4
Number Of Board Of Directors	ocsl_NumberOfBoardOfDirectors	4
Other Expenses	us-gaap_OtherExpenses	$ 69,000
Other Expenses	us-gaap_OtherExpenses	79,000
Other Expenses	us-gaap_OtherExpenses	53,000
Other Expenses	us-gaap_OtherExpenses	$ 39,000
Number Of Board Of Directors Selected By Counterparty	ocsl_NumberOfBoardOfDirectorsSelectedByCounterparty	2
Number Of Board Of Directors Selected By Counterparty	ocsl_NumberOfBoardOfDirectorsSelectedByCounterparty	2
Investment Company, Financial Support Funded For Investee, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeAmount	$ 166,700,000
Investment Company, Financial Support Funded For Investee, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeAmount	144,800,000
Investment Company, Financial Support Funded For Investee, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeAmount	73,500,000
Investment Company, Financial Support Funded For Investee, Amount	ocsl_InvestmentCompanyFinancialSupportFundedForInvesteeAmount	$ 73,500,000
Number Of Investment Committee Members Selected By Company	ocsl_NumberOfInvestmentCommitteeMembersSelectedByCompany	1
Number Of Investment Committee Members Selected By Company	ocsl_NumberOfInvestmentCommitteeMembersSelectedByCompany	1
Members' Equity	us-gaap_MembersEquity	$ 27,560,000
Members' Equity	us-gaap_MembersEquity	23,688,000
Members' Equity	us-gaap_MembersEquity	0
Members' Equity	us-gaap_MembersEquity	$ 0
Number Of Investment Committee Members Selected By Counterparty	ocsl_NumberOfInvestmentCommitteeMembersSelectedByCounterparty	1
Number Of Investment Committee Members Selected By Counterparty	ocsl_NumberOfInvestmentCommitteeMembersSelectedByCounterparty	1
Investment Company, Investments Sold	ocsl_InvestmentCompanyInvestmentsSold	$ 13,500,000
Investment Company, Investments Sold	ocsl_InvestmentCompanyInvestmentsSold	9,700,000
Investment Company, Financial Commitment To Investee By Company And Counterparty, Aggregate Amount,	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeByCompanyAndCounterpartyAggregateAmount	100,000,000
Investment Company, Financial Commitment To Investee By Company And Counterparty, Aggregate Amount,	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeByCompanyAndCounterpartyAggregateAmount	100,000,000
Investment Company, Financial Commitment To Investee, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeAggregateAmount	87,500,000
Investment Company, Financial Commitment To Investee, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeAggregateAmount	87,500,000
Investment Company, Dividend Distribution	us-gaap_InvestmentCompanyDividendDistribution	56,800,000
Investment Company, Dividend Distribution	us-gaap_InvestmentCompanyDividendDistribution	27,200,000
Investment Company, Dividend Distribution	us-gaap_InvestmentCompanyDividendDistribution	27,200,000
Investment Company, Financial Commitment To Investee By Counterparty, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeByCounterpartyAggregateAmount	12,500,000
Investment Company, Financial Commitment To Investee By Counterparty, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeByCounterpartyAggregateAmount	12,500,000
Proceeds from Sale of Long-Term Investments	us-gaap_ProceedsFromSaleOfLongtermInvestments	12,900,000
Proceeds from Sale of Long-Term Investments	us-gaap_ProceedsFromSaleOfLongtermInvestments	$ 9,700,000
Weighted Average [Member]
Investment Interest Rate	us-gaap_InvestmentInterestRate	9.55%
Investment Interest Rate	us-gaap_InvestmentInterestRate	8.33%
Investment Interest Rate	us-gaap_InvestmentInterestRate	9.86%
Investment Interest Rate	us-gaap_InvestmentInterestRate	8.52%
Kemper [Member]
Investment Owned, Ownership Percentage	ocsl_InvestmentOwnedOwnershipPercentage	12.50%
Investment Owned, Ownership Percentage	ocsl_InvestmentOwnedOwnershipPercentage	12.50%
Glick JV LLC [Member]
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	$ 49,500,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	49,500,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	1,600,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	$ 1,600,000
Investment Owned, Ownership Percentage	ocsl_InvestmentOwnedOwnershipPercentage	87.50%
Investment Owned, Ownership Percentage	ocsl_InvestmentOwnedOwnershipPercentage	12.50%
Investment Company, Financial Commitment To Investee, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeAggregateAmount	$ 8,700,000
Investment Company, Financial Commitment To Investee, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeAggregateAmount	8,700,000
SLF JV I [Member]
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	136,800,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	117,000,000
OCSI Glick JV LLC [Member]
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	50,000,000
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	50,200,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	49,500,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	50,300,000
SLF JV I Notes [Member]
Interest Income, Operating	us-gaap_InterestIncomeOperating	2,600,000
Interest Income, Operating	us-gaap_InterestIncomeOperating	2,000,000
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	112,700,000
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	96,300,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	112,700,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	96,300,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	9,800,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	26,200,000
Investment Company, Financial Support To Investee During Period	ocsl_InvestmentCompanyFinancialSupportToInvesteeDuringPeriod	16,400,000
Glick JV Notes [Member]
Interest Income, Operating	us-gaap_InterestIncomeOperating	1,600,000
Interest Income, Operating	us-gaap_InterestIncomeOperating	1,100,000
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	50,300,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	50,300,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	12,400,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	$ 12,400,000
Investment Owned, Ownership Percentage	ocsl_InvestmentOwnedOwnershipPercentage	87.50%
Investment Owned, Ownership Percentage	ocsl_InvestmentOwnedOwnershipPercentage	12.50%
Investment Company, Financial Commitment To Investee, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeAggregateAmount	$ 78,800,000
Investment Company, Financial Commitment To Investee, Aggregate Amount	ocsl_InvestmentCompanyFinancialCommitmentToInvesteeAggregateAmount	78,800,000
SLF JV I, LLC [Member]
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	54,800,000
Investment Owned, at Cost	us-gaap_InvestmentOwnedAtCost	49,300,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	24,100,000
Investment Owned, at Fair Value	us-gaap_InvestmentOwnedAtFairValue	20,700,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	3,300,000
Investment Company, Financial Commitment to Investee, Future Amount	us-gaap_InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount	8,800,000
Investment Company, Financial Support To Investee During Period	ocsl_InvestmentCompanyFinancialSupportToInvesteeDuringPeriod	5,500,000
Dividend Income, Operating	us-gaap_DividendIncomeOperating	1,100,000
Dividend Income, Operating	us-gaap_DividendIncomeOperating	500,000
Senior Secured Loans [Member]
Investment Owned, Balance, Principal Amount	us-gaap_InvestmentOwnedBalancePrincipalAmount	382,148,000
Investment Owned, Balance, Principal Amount	us-gaap_InvestmentOwnedBalancePrincipalAmount	383,194,000
Investment Owned, Balance, Principal Amount	us-gaap_InvestmentOwnedBalancePrincipalAmount	134,080,000
Investment Owned, Balance, Principal Amount	us-gaap_InvestmentOwnedBalancePrincipalAmount	$ 143,225,000
Common Stock [Member]
Common Stock, Shares, Issued	us-gaap_CommonStockSharesIssued	61,125,000
Common Stock, Shares, Issued	us-gaap_CommonStockSharesIssued	61,220,000
Common Stock, Shares, Issued	us-gaap_CommonStockSharesIssued	60,120,000
Common Stock, Shares, Issued	us-gaap_CommonStockSharesIssued	60,156,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 611,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	612,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	601,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 602,000
Stock Issued During Period, Shares, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan	95,000
Stock Issued During Period, Shares, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan	36,000
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	$ 1,000
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	1,000
Additional Paid-in Capital [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	1,827,721,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	1,829,653,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	1,805,557,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	1,806,342,000
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	1,932,000
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	785,000
Investment Company, Accumulated Overdistributed Earnings [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(582,769,000)
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(628,276,000)
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(493,335,000)
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(481,883,000)
Investment Company, Shareholder Transactions, Increase (Decrease)	ocsl_InvestmentCompanyShareholderTransactionsIncreaseDecrease	(58,679,000)
Investment Company, Shareholder Transactions, Increase (Decrease)	ocsl_InvestmentCompanyShareholderTransactionsIncreaseDecrease	(27,956,000)
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	0
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	$ 0
Distribution Type, Quarterly [Member]
Investment Company, Distribution to Shareholders, Per Share	us-gaap_InvestmentCompanyDistributionToShareholdersPerShare	$ 0.54
Investment Company, Dividend Distribution	us-gaap_InvestmentCompanyDividendDistribution	$ 32,000,000.0
Stock Issued During Period, Shares, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan	53,369,000
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	$ 1,100,000
Distribution Type, Special [Member]
Investment Company, Distribution to Shareholders, Per Share	us-gaap_InvestmentCompanyDistributionToShareholdersPerShare	$ 0.42
Investment Company, Dividend Distribution	us-gaap_InvestmentCompanyDividendDistribution	$ 24,800,000
Stock Issued During Period, Shares, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan	41,510,000
Stock Issued During Period, Value, Dividend Reinvestment Plan	us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan	$ 800,000
SLF JV I Notes [Member]
Interest Expense	us-gaap_InterestExpense	2,982,000
Interest Expense	us-gaap_InterestExpense	2,249,000
Glick JV Notes [Member]
Interest Expense	us-gaap_InterestExpense	1,324,000
Interest Expense	us-gaap_InterestExpense	818,000
Senior Credit Facility [Member]
Interest Expense	us-gaap_InterestExpense	3,709,000
Interest Expense	us-gaap_InterestExpense	1,514,000
Interest Expense	us-gaap_InterestExpense	1,285,000
Interest Expense	us-gaap_InterestExpense	510,000
Revolving Credit Facility [Member] \| Glick JV Deutsche Bank Facility [Member] \| Line of Credit [Member]
Long-Term Line of Credit	us-gaap_LineOfCredit	76,100,000
Long-Term Line of Credit	us-gaap_LineOfCredit	82,100,000
Line of Credit Facility, Maximum Borrowing Capacity	us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity	$ 90,000,000
Revolving Credit Facility [Member] \| Glick JV Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate, Floor [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	0.125%
Revolving Credit Facility [Member] \| Glick JV Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| First Year After Reinvestment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.40%
Revolving Credit Facility [Member] \| Glick JV Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| During The Reinvestment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.25%
Revolving Credit Facility [Member] \| Glick JV Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Third Year After Reinvestment Period, And There After [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.75%
Revolving Credit Facility [Member] \| Glick JV Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Second Year After Reinvestment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.50%
Revolving Credit Facility [Member] \| SLF JV I Deutsche Bank Facility [Member] \| Line of Credit [Member]
Long-Term Line of Credit	us-gaap_LineOfCredit	$ 226,000,000
Long-Term Line of Credit	us-gaap_LineOfCredit	230,000,000
Line of Credit Facility, Maximum Borrowing Capacity	us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity	260,000,000
Line of Credit Facility, Maximum Borrowing Capacity	us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity	$ 260,000,000
Revolving Credit Facility [Member] \| SLF JV I Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate, Floor [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	0.125%
Revolving Credit Facility [Member] \| SLF JV I Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| First Year After Reinvestment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.15%
Revolving Credit Facility [Member] \| SLF JV I Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| During The Reinvestment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.00%
Revolving Credit Facility [Member] \| SLF JV I Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Third Year After Reinvestment Period, And There After [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.50%
Revolving Credit Facility [Member] \| SLF JV I Deutsche Bank Facility [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Second Year After Reinvestment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1	2.25%
Investment Owned, At Fair Value [Member] \| Investment Type Concentration Risk [Member] \| Debt Securities, Subordinated, Including JV Debt Instruments [Member]
Concentration Risk, Percentage	us-gaap_ConcentrationRiskPercentage1	8.50%
Concentration Risk, Percentage	us-gaap_ConcentrationRiskPercentage1	8.10%