v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net increase in net assets (Successor) and members' capital (Predecessor) resulting from operations $ 18,429 $ 40,560
Adjustments to reconcile net increase in net assets (Successor) and members' capital (Predecessor) resulting from operations to net cash (used in) provided by operating activities:    
Net realized (gains) losses on investments 8,417 3,285
Net change in unrealized (appreciation) depreciation of investments (1,669) (11,608)
Amortization of purchase discount (834) (755)
Amortization of deferred financing costs 486 1,025
Non-cash investment income (3,555) (6,958)
(Increase) decrease in operating assets:    
Cash received for purchase of undrawn portion of revolving credit or delayed draw facilities 4 0
Receivable from unsettled securities sold 0 (21,319)
Interest and dividend receivable (2,496) (3,704)
Receivable from affiliate 7 0
Deferred tax asset (1) 150
Other assets 12 (54)
Increase (decrease) in operating liabilities:    
Payable for unsettled securities purchased (13,160) 0
Interest payable 4,026 5,709
Incentive fee payable 2,522 (283)
Management fee payable 2,504 353
Deferred tax liability 0 87
Payable to affiliates 269 (164)
Other liabilities 353 (150)
Net cash flows provided by (used in) operating activities (53,144) 72,655
Cash flows from financing activities    
Distributions from net investment income (10,486) (35,506)
Subscriptions received in advance 34,866 0
Return of capital distributions 0 (49,984)
Net proceeds from issuance of shares 1,182 0
Deferred financing costs paid 0 (2)
Net cash flows (used in) provided by financing activities 91,562 (94,292)
Net increase (decrease) in cash and cash equivalents 38,418 (21,637)
Cash and cash equivalents at the beginning of the period 66,683 69,873
Cash and cash equivalents at the end of the period 105,101 48,236
Supplemental disclosure of cash flow information    
Cash interest paid 4,804 10,022
Income taxes (refunded)/paid 167 47
Non-cash operating activities:    
Non-cash activity on investments 36,840 6,137
Non-cash financing activities:    
Distributions declared and payable 7,550 32,059
Reinvestment of distributions 4,270 0
Share repurchases accrued but not yet paid 1,170 0
Accrual for early repurchase penalty 37 0
Accrual for placement fees 21 0
GS Credit Facility    
Cash flows from financing activities    
Proceeds from GS Credit Facility 118,000 33,000
Repayment of GS Credit Facility (52,000) (41,800)
Purchase of investments and delayed draw facilities    
(Increase) decrease in operating assets:    
Cash paid for purchase of investments (128,583) (5,904)
Proceeds from sales and paydowns of investments    
(Increase) decrease in operating assets:    
Proceeds from sales and paydowns/ repayments of investments 61,887 75,351
Drawn revolvers    
(Increase) decrease in operating assets:    
Cash paid for purchase of investments (4,805) (11,441)
Proceeds from sales and paydowns/ repayments of investments $ 3,043 $ 8,475