Robert Dodd : Got it. And then just on where — and obviously, credit quality across the portfolio look but more than — where — what are the reactions [indiscernible] in terms of sponsor interactions, I mean, is anything changing on that front given now we’ve been in a high rate environment for a relatively prolonged period now. Are they starting to change how they’re looking at supporting portfolio companies? Or is everything just business as usual?
Edward Ross : I’m not seeing really any noticeable change. I mean we’ve seen some support and tougher situations that we have where to go through an amendment, we’re requiring support. We have a portfolio that’s very active from an add-on acquisition perspective and folks are doing that. I am — what I’m seeing and what we’re seeing as [indiscernible] a pretty high level or pretty high interest in trying to define high-quality companies recognizing that rates are higher. And maybe, quite frankly, in some cases, private equity groups are paying a little more than they would like to. But for A assets, I think that’s where there’s a flight to quality from an equity perspective and from a debt perspective. And if people can locate and get an opportunity to invest in a very high-quality A type business than folks are willing to still pay up for them, quite frankly. And you’re seeing that in some of the utilizations that we — that we have as well.
Operator: [Operator Instructions]. Next question will be from Paul Johnson with KBW.
Paul Johnson: On the Hallmark just going back to the Hallmark Health Care sale. I’m just trying to understand kind of, obviously, that was a successful in for you guys just kind of understanding what’s going on there with the company. It looks like you have just a little bit of an equity investment left in the portfolio. Just any color you can kind of on what perpetuated as the sale and what you guys have left remaining in the portfolio with that company.
Edward Ross : Sure. Great question, Paul. Paul, this — Hallmark has been a great performer for us. We — actually, the company was — and the sponsor was evaluating a couple of things. One was more of a dividend recap or a sale transaction. And quite frankly, we weren’t in the now as much as maybe we would have even liked. But so the sale transaction transpired, it was documented legally as a full sale of the whole equity tranche. Having said that, the sponsor is rolling over a significant portion not up to 50%, less than 50%, but a significant portion of their investment, and we follow that lead. And so we also invested the same percentage in the business on a go-forward basis. So it’s a full realization, but we invested a significant amount in the go-forward capitalization of the business. Is that helpful?
Paul Johnson : Yes. That’s very helpful. That’s great color. And Obviously, you guys recognize the gain on the sale, but was that investment also written up during the quarter? Are you able to quantify that at all? Impact on that?
Edward Ross : Jody do you have that at your fingertips or I’ll give a higher level.
Jody Burfening : I don’t have the exact number, but I can confirm that the realization that we had in Q3 was materially higher than the fair value we had — marked [ out ] at the end of Q2.
Paul Johnson : Okay. And then so last quarter, you just kind of gave — I think it was an approximation of, I think you said 55% of your companies were still growing EBITDA last quarter. Are you able to provide any kind of similar approximation of the percent of your portfolio that you still see growing revenues or EBITDA at this point?
Edward Ross : Sure, sure. It’s a great question. the portfolio continues to perform well. I think of the core lower middle-market businesses that we’re invested in EBITDA I guess, what’s the number 35 of 56 companies that fall in that category. And we also have some equity stand-alone businesses or orphaned equity investments that are not included there. And so about 63% of the companies grew cash flows or EBITDA. And then overall, our portfolio grew on an LTM basis this quarter, just less than 5%. So we’re seeing still healthy performance and healthy growth in the underlying portfolio, which we’re very pleased with.
