v3.25.2
FAIR VALUE MEASUREMENTS - Schedule of Reconciliation of the Beginning and Ending Balances for Investments (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Total        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance $ 1,548,687 $ 534,844 $ 1,392,791 $ 466,550
Purchase of investments 122,341 193,460 327,777 271,344
Proceeds from principal repayments and sales of investments (67,502) (32,089) (124,180) (50,683)
Payment-in-kind interest 1,638 1,028 3,183 1,912
Amortization of premium/accretion of discount, net 699 (1,601) 1,858 (1,283)
Transfers out of level 3 (23,033) (24,116) (15,929) (13,942)
Transfers to level 3 1,920   6,169  
Ending balance 1,578,317 672,506 1,578,317 672,506
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held (6,158) 870 (11,650) (1,443)
Total | Net realized gain (loss) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings (2,798) 108 (2,574) 226
Total | Net change in unrealized appreciation (depreciation) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings (3,635) 872 (10,778) (1,618)
First-Lien Debt        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 1,416,119 421,782 1,270,084 354,396
Purchase of investments 119,231 185,542 316,850 259,910
Proceeds from principal repayments and sales of investments (53,866) (21,360) (110,538) (36,794)
Payment-in-kind interest 143 210 177 346
Amortization of premium/accretion of discount, net 608 (1,670) 1,644 (1,426)
Transfers out of level 3 (13,801) (24,116) (7,980) (13,942)
Transfers to level 3 1,920   6,169  
Ending balance 1,463,396 561,207 1,463,396 561,207
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held (6,685) 680 (11,162) (1,355)
First-Lien Debt | Net realized gain (loss) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings (2,837) 137 (2,613) 182
First-Lien Debt | Net change in unrealized appreciation (depreciation) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings (4,121) 682 (10,397) (1,465)
Subordinated Debt        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 111,897 100,189 102,993 101,930
Purchase of investments 1,512 6,468 9,320 6,882
Proceeds from principal repayments and sales of investments (13,636) (10,309) (13,642) (13,114)
Payment-in-kind interest 1,495 818 3,006 1,566
Amortization of premium/accretion of discount, net 91 69 214 143
Transfers out of level 3 0 0 0 0
Transfers to level 3 0   0  
Ending balance 101,193 96,857 101,193 96,857
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held (164) (380) (844) (598)
Subordinated Debt | Net realized gain (loss) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings 39 0 39 74
Subordinated Debt | Net change in unrealized appreciation (depreciation) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings (205) (378) (737) (624)
Equity Investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 20,671 12,873 19,714 10,224
Purchase of investments 1,598 1,450 1,607 4,552
Proceeds from principal repayments and sales of investments 0 (420) 0 (775)
Payment-in-kind interest 0 0 0 0
Amortization of premium/accretion of discount, net 0 0 0 0
Transfers out of level 3 (9,232) 0 (7,949) 0
Transfers to level 3 0   0  
Ending balance 13,728 14,442 13,728 14,442
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held 691 570 356 510
Equity Investments | Net realized gain (loss) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings 0 (29) 0 (30)
Equity Investments | Net change in unrealized appreciation (depreciation) on investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total gains or losses included in earnings $ 691 $ 568 $ 356 $ 471