v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net increase in net assets resulting from operations $ 64,471 $ 45,189
Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:    
Purchases of portfolio company investments (158,946) (93,283)
Proceeds from return of capital on portfolio company investments 984 592
Net change in unrealized appreciation on investments and foreign currency transactions, excluding deferred taxes (60,218) (36,469)
PIK interest (364) 0
PIK dividends (3,188) 0
Decrease in due to related parties (13,914) (4,662)
Increase (decrease) in accounts payable and other accrued expenses 522 (418)
Increase in deferred tax liabilities, net 5,013 1,267
Increase (decrease) in prepaid expenses and other assets 150 (143)
Other operating activities 47 61
Net cash used in operating activities (165,443) (87,866)
Financing Activities:    
Proceeds from issuance of common shares 53,031 109,359
Payment on repurchases of common shares (37,736) (22,004)
Proceeds from line of credit 30,000 0
Distributions paid, net of distributions reinvested (10,409) (9,621)
Deferred financing costs (134) (163)
Net cash provided by financing activities 34,752 77,571
Net decrease in cash and cash equivalents (130,691) (10,295)
Cash and cash equivalents, beginning of period 146,319 134,453
Cash and cash equivalents, end of period 15,628 124,158
Supplemental disclosure of cash flow information and non-cash financing activities:    
Distributions reinvested 10,510 8,400
Amounts incurred but not paid (including amounts due to related parties):    
Offering costs 187 126
Payable for shares repurchased $ 11,190 $ 12,776