Quarterly report [Sections 13 or 15(d)]

RELATED PARTY TRANSACTIONS (Tables)

v3.25.1
RELATED PARTY TRANSACTIONS (Tables)
6 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the base management fee, incentive fee, and loan servicing fee and associated non-contractual, unconditional and irrevocable credits reflected in our accompanying Consolidated Statements of Operations:
Three Months Ended
March 31,
Six Months Ended
March 31,
2025 2024 2025 2024
Average total assets subject to base management fee(A)(B)
$ 786,514  $ 786,057  $ 799,200  $ 763,886 
Multiplied by prorated annual base management fee of 1.75%
0.4375  % 0.4375  % 0.8750  % 0.8750  %
Base management fee(C)
$ 3,441  $ 3,439  $ 6,993  $ 6,684 
Portfolio company fee credit (712) (325) (2,808) (1,876)
Syndicated loan fee credit
(11) (27) (21) (58)
Net Base Management Fee $ 2,718  $ 3,087  $ 4,164  $ 4,750 
Loan servicing fee(C)
2,278  2,260  4,456  4,388 
Credit to base management fee - loan servicing fee(C)
(2,278) (2,260) (4,456) (4,388)
Net Loan Servicing Fee $   $ —  $   $ — 
Incentive fee(C)
2,407  2,669  5,111  5,653 
Incentive fee credit
(1,423) (94) (1,662) (94)
Net Incentive Fee $ 984  $ 2,575  $ 3,449  $ 5,559 
Portfolio company fee credit (712) (325) (2,808) (1,876)
Syndicated loan fee credit
(11) (27) (21) (58)
Incentive fee credit (1,423) (94) (1,662) (94)
Credits to Fees From Adviser - other(C)
$ (2,146) $ (446) $ (4,491) $ (2,028)
(A)Average total assets subject to the base management fee is defined in the Advisory Agreement as total assets, including investments made with proceeds of borrowings, less any uninvested cash or cash equivalents resulting from borrowings, valued at the end of the applicable quarters within the respective periods and adjusted appropriately for any share issuances or repurchases during the period.
(B)Excludes our investment in Gladstone Alternative valued at the end of the applicable quarters with the respective periods.
(C)Reflected as a line item on our accompanying Consolidated Statements of Operations.
Amounts due to related parties on our accompanying Consolidated Statements of Assets and Liabilities were as follows:
March 31, 2025 September 30, 2024
Base management fee due to (from) Adviser $ 452  $ 809 
Loan servicing fee due to Adviser 554  509 
Incentive fee due to Adviser 984  2,571 
Total fees due to Adviser
1,990  3,889 
Fee due to Administrator
846  569 
Total Related Party Fees Due
$ 2,836  $ 4,458