v3.25.2
Consolidated Schedule of Investments in and Advances to Affiliates - Footnotes (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
 [3]
Jun. 30, 2024
Dec. 31, 2023
Schedule of Investments [Line Items]        
Fair value $ 5,093,070 [1] $ 4,932,669 [2],[4]    
Control investments        
Schedule of Investments [Line Items]        
Fair value 2,295,565 [1] 2,087,890 $ 2,075,429 $ 2,006,698
Control investments | Midwest        
Schedule of Investments [Line Items]        
Fair value $ 586,104   $ 514,812  
Net assets, percentage (as a percent) 20.30%   20.00%  
Control investments | Northeast Region and Canada        
Schedule of Investments [Line Items]        
Fair value $ 157,835   $ 294,943  
Net assets, percentage (as a percent) 5.50%   11.40%  
Control investments | Southeast        
Schedule of Investments [Line Items]        
Fair value $ 67,427   $ 49,880  
Net assets, percentage (as a percent) 2.30%   1.90%  
Control investments | Southwest        
Schedule of Investments [Line Items]        
Fair value $ 990,024   $ 826,500  
Net assets, percentage (as a percent) 34.30%   32.00%  
Control investments | West        
Schedule of Investments [Line Items]        
Fair value $ 494,175   $ 389,294  
Net assets, percentage (as a percent) 17.10%   15.10%  
Affiliate investments        
Schedule of Investments [Line Items]        
Fair value $ 856,226 [1] $ 846,798 $ 752,764 $ 615,002
Affiliate investments | Midwest        
Schedule of Investments [Line Items]        
Fair value $ 173,435   $ 199,928  
Net assets, percentage (as a percent) 6.00%   7.80%  
Affiliate investments | Northeast Region and Canada        
Schedule of Investments [Line Items]        
Fair value $ 126,778   $ 80,600  
Net assets, percentage (as a percent) 4.40%   3.10%  
Affiliate investments | Southeast        
Schedule of Investments [Line Items]        
Fair value $ 202,564   $ 171,957  
Net assets, percentage (as a percent) 7.00%   6.70%  
Affiliate investments | Southwest        
Schedule of Investments [Line Items]        
Fair value $ 224,323   $ 153,574  
Net assets, percentage (as a percent) 7.80%   6.00%  
Affiliate investments | West        
Schedule of Investments [Line Items]        
Fair value $ 129,126   $ 146,705  
Net assets, percentage (as a percent) 4.50%   5.70%  
[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.