v3.25.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Investment Income    
Total investment income from non-controlled, non-affiliated investments $ 707,250 $ 528,157
Operating Expenses    
Offering costs 1,962 1,251
Interest expense 216,560 169,416
Management fees, net [1] 46,397 28,519
Performance based incentive fees 52,675 38,910
Professional fees 5,596 5,616
Directors’ fees 320 326
Shareholder servicing fees 11,408 7,412
Other general and administrative 3,386 1,782
Total Operating Expenses 338,304 253,232
Net Investment Income (Loss) Before Taxes 368,946 274,925
Income tax expense (benefit), including excise tax expense (benefit) 220 799
Net Investment Income (Loss) After Taxes 368,726 274,126
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) (60,810) 1,898
Translation of assets and liabilities in foreign currencies 7,528 (291)
Income tax (provision) benefit 169 8
Total Net Change in Unrealized Gain (Loss) (53,113) 1,615
Net realized gain (loss):    
Non-controlled, non-affiliated investments (57,865) (3,447)
Foreign currency transactions (6,015) 76
Total Net Realized Gain (Loss) (63,880) (3,371)
Total Net Realized and Change in Unrealized Gain (Loss) (116,993) (1,756)
Net Increase (Decrease) in Net Assets Resulting from Operations 251,733 272,370
Class S common stock    
Net realized gain (loss):    
Net Increase (Decrease) in Net Assets Resulting from Operations $ 77,401 $ 89,650
Earnings Per Share - Basic (in usd per share) $ 0.14 $ 0.25
Earnings Per Share - Diluted (in usd per share) $ 0.14 $ 0.25
Weighted Average Shares of Common Stock Outstanding - Basic (in shares) 553,435,797 356,127,221
Weighted Average Shares of Common Stock Outstanding - Diluted (in shares) 553,435,797 356,127,221
Class D common stock    
Net realized gain (loss):    
Net Increase (Decrease) in Net Assets Resulting from Operations $ 8,336 $ 11,407
Earnings Per Share - Basic (in usd per share) $ 0.15 $ 0.27
Earnings Per Share - Diluted (in usd per share) $ 0.15 $ 0.27
Weighted Average Shares of Common Stock Outstanding - Basic (in shares) 54,656,440 42,899,375
Weighted Average Shares of Common Stock Outstanding - Diluted (in shares) 54,656,440 42,899,375
Class I common stock    
Net realized gain (loss):    
Net Increase (Decrease) in Net Assets Resulting from Operations $ 165,996 $ 171,312
Earnings Per Share - Basic (in usd per share) $ 0.16 $ 0.27
Earnings Per Share - Diluted (in usd per share) $ 0.16 $ 0.27
Weighted Average Shares of Common Stock Outstanding - Basic (in shares) 1,043,162,192 630,203,053
Weighted Average Shares of Common Stock Outstanding - Diluted (in shares) 1,043,162,192 630,203,053
Non-controlled/non-affiliated portfolio company investments    
Investment Income    
Interest income $ 628,032 $ 460,535
Payment-in-kind (“PIK”) interest income 28,720 26,458
Dividend income 1,609 2,104
Payment-in-kind (“PIK”) dividend income 13,344 17,251
Other income 7,829 5,451
Total investment income from non-controlled, non-affiliated investments 679,534 511,799
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) (54,453) (4,071)
Net realized gain (loss):    
Non-controlled, non-affiliated investments (57,865) (3,447)
Non-controlled, affiliated investments    
Investment Income    
Interest income 22 0
Payment-in-kind (“PIK”) interest income 42 0
Dividend income 0 145
Other income 0  
Total investment income from non-controlled, non-affiliated investments 64 145
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) (82) 1,343
Net realized gain (loss):    
Non-controlled, non-affiliated investments 0  
Controlled, affiliated investments    
Investment Income    
Interest income 2,765 1,517
Payment-in-kind (“PIK”) interest income 0 1,104
Dividend income 24,887 13,592
Other income 0  
Total investment income from non-controlled, non-affiliated investments 27,652 16,213
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) (6,275) $ 4,626
Net realized gain (loss):    
Non-controlled, non-affiliated investments $ 0  
[1] Refer to Note 3 “Agreements and Related Party Transactions” for additional details on management fee waiver.