And we hope to have a closing again, sometime over the next one to three months. And if we’re successful there, we wouldn’t execute that acquisition both for our benefit or for the portfolio company, without the viewpoint that it’ll be a significant value creator from a fair value standpoint and an ultimate equity valuation for when that company’s ever sold. So I know that’s a lot there, but I’d say it’s just, we have been and continue to encourage our companies to pursue that. And we’ve seen really, really good results over the last couple of years from that initiative.
David Magdol: So I’ll just add one thing on the fair value comment. There are two big inputs that Dwayne talked about. One are the accretive acquisitions. The second are the exit activities. When we’re doing our fair value marks, we’re marking them to what we think is a fair value at that moment in time. When we do run a process, the job on a process, if there is an intermediary involved, is to go out there and find the outlier and to get to the top of a range of expected outcomes. As time goes on, we get further through that and we have incoming calls, we hope to exceed the fair value marks that we have. So when we see activity, we’re hopefully able to appreciate and get that outlier type of valuation that also helps obviously with the fair value.
Vilas Abraham: Okay. And then that final mark will happen after the transaction closes?
Dwayne Hyzak: At closing. Yeah. When you see the realized transaction, go through the financial statements.
Vilas Abraham: Okay. Okay. Great. That’s all very helpful, color. Can you guys talk about the, just to pick up there, non-accruals for the quarter? Any color around what was happening there with that credit or credits that I think were in the private loan book?
Jesse Morris: Yeah. There were two that off the top of my head were private loan. One was middle market. I’d say these are companies that we had been writing down from a fair value standpoint the last couple of quarters as those companies had dealt with specific operating company performance issues to the credit of the sponsors. They continue to be supportive and we continue to work with the private equity sponsors in each of those transactions and the other participants in the capital structure. But the non-accrual status and the fair value depreciation that we’ve recorded just represents the underlying operating performance challenges that those companies have had specifically. So nothing that’s systematic or broad-based. It’s very, very specific to the operating performance of those companies in this quarter that were moved to non-accrual.
Vilas Abraham: Okay. Thank you, guys. I’ll hop back in the queue.
Operator: This concludes our question and answer session. I would like to turn the floor back over to management for closing comments.
Dwayne Hyzak: We just want to thank everyone again for joining us this morning and we’ll look forward to talking to everyone again in mid to late February. Ladies and gentlemen, thank you for your participation. This does conclude today’s teleconference. You may disconnect your lines and have a wonderful day.
