v3.25.2
FAIR VALUE HIERARCHY FOR INVESTMENTS—PORTFOLIO COMPOSITION - Schedule of Fair Value Hierarchy (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: $ 5,093,070 [1] $ 4,932,669 [2],[3],[4]
Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 5,071,513 4,932,669
Fair Value, Recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 5,093,070 4,932,669
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 21,557 0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 5,071,513 4,932,669
Fair Value, Recurring | LMM portfolio investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 2,668,844 2,502,872
Fair Value, Recurring | LMM portfolio investments | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | LMM portfolio investments | Significant Other Observable Inputs (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | LMM portfolio investments | Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 2,668,844 2,502,872
Fair Value, Recurring | Private Loan portfolio investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 1,920,257 1,904,324
Fair Value, Recurring | Private Loan portfolio investments | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | Private Loan portfolio investments | Significant Other Observable Inputs (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | Private Loan portfolio investments | Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 1,920,257 1,904,324
Fair Value, Recurring | Middle Market portfolio investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 108,705 155,329
Fair Value, Recurring | Middle Market portfolio investments | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | Middle Market portfolio investments | Significant Other Observable Inputs (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | Middle Market portfolio investments | Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 108,705 155,329
Fair Value, Recurring | Other Portfolio investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 122,664 124,144
Fair Value, Recurring | Other Portfolio investments | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 21,557 0
Fair Value, Recurring | Other Portfolio investments | Significant Other Observable Inputs (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | Other Portfolio investments | Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 101,107 124,144
Fair Value, Recurring | External Investment Manager    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 272,600 246,000
Fair Value, Recurring | External Investment Manager | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | External Investment Manager | Significant Other Observable Inputs (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: 0 0
Fair Value, Recurring | External Investment Manager | Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments at fair value: $ 272,600 $ 246,000
[1] Investment Fair Value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments —Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
[2] All portfolio company headquarters are based in the United States, unless otherwise noted.
[3] Investment Fair Value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
[4] All investments are LMM portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of LMM portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Corporate Facility or SPV Facility or in support of the debentures guaranteed by the SBA and issued by the Funds.