Quarterly report [Sections 13 or 15(d)]

RELATED-PARTY TRANSACTIONS (Tables)

v3.26.1
RELATED-PARTY TRANSACTIONS (Tables)
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes related-party fees paid or accrued for and reflected in our accompanying condensed consolidated financial statements (dollars in thousands):
  For the Three Months Ended March 31,
  2026 2025
Base management fee(1)(2)
$ 1,945  $ 2,058 
Capital gains fee(1)(2)
—  188 
Total fees to our Adviser $ 1,945  $ 2,246 
Administration fee(1)(2)
$ 720  $ 642 
(1)Pursuant to the agreements with the respective related-party entities, as discussed above.
(2)Reflected as a line item on our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
Amounts due to related parties on our accompanying Condensed Consolidated Balance Sheets as of March 31, 2026, and December 31, 2025, were as follows (dollars in thousands):
March 31, 2026 December 31, 2025
Base management fee $ 1,945  $ 1,967 
Other, net(1)
156  58 
Total due to Adviser 2,101  2,025 
Administration fee 720  753 
Cumulative accrued but unpaid portion of prior Administration Fees(2)
301  66 
Total due to Administrator 1,021  819 
Total due to related parties, net(3)
$ 3,122  $ 2,844 
(1)Other amounts due to or from our Adviser primarily relate to miscellaneous general and administrative expenses either paid by our Adviser on our behalf or by us on our Adviser’s behalf.
(2)Represents the cumulative accrued but unpaid portion of prior Administration fees that are scheduled to be paid during the three months ending September 30 of each year, which is the quarter following our Administrator’s fiscal year end.
(3)Reflected as a line item on our accompanying Condensed Consolidated Balance Sheets.