v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows provided by/(used in) operating activities:    
Net increase/(decrease) in net assets resulting from operations $ 68,499 $ 45,337
Adjustments to reconcile net increase/(decrease) in net assets resulting from operation to net cash provided by/(used in) operating activities:    
Purchase of investments, net of deferred fees (579,821) (469,567)
Proceeds from sales and paydowns of investments 352,098 328,878
Net change in unrealized (appreciation)/depreciation from investments (11,730) 1,427
Net realized (gain)/loss from investments 10,416 5,136
Accretion of original issue discounts and end of term payments on investments (23,406) (15,509)
Amortization of deferred financing costs 2,384 2,311
Stock-based compensation 5,803 5,343
Change in operating assets and liabilities    
(Increase)/Decrease in interest receivable (1,122) (2,770)
(Increase)/Decrease in other assets (707) (919)
Increase/(Decrease) in security deposits (2,554) (1,118)
Increase/(Decrease) in accounts payable, accrued expenses and other liabilities (6,733) (1,841)
Net cash provided by/(used in) operating activities (186,873) (103,292)
Cash flows provided by/(used in) investing activities:    
Disposal/(Acquisition) of fixed assets (286) (159)
Net cash provided by/(used in) investing activities (286) (159)
Cash flows provided by/(used in) financing activities    
Issuance of common stock, net of issuance costs 111,981 71,174
Retirement of employee shares (2,463) (2,380)
Cash distributions paid (63,430) (47,312)
Issuance of Unsecured Notes, net of issuance costs 5,451 111,610
Repayment of Unsecured Notes (217,756) (30,000)
Borrowings under Credit Facility 727,200 340,000
Repayments under Credit Facility (357,200) (298,300)
Net cash provided by/(used in) financing activities 203,783 144,792
Net increase/(decrease) in cash, cash equivalents and restricted cash 16,624 41,341
Cash, cash equivalents and restricted cash at beginning of period 9,627 4,761
Cash, cash equivalents and restricted cash at end of period 26,251 46,102
Supplemental and non-cash investing and financing activities:    
Cash paid for interest 33,035 21,031
Income tax, including excise tax, paid 2,722 2,524
Distribution payable 35,483 26,443
Distributions reinvested $ 600 $ 658