v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net (decrease) increase in net assets resulting from operations $ (44,270) $ 24,515
Adjustments to reconcile the net (decrease) increase in net assets resulting from operations to net cash provided by operating activities:    
Purchases of investments (55,596) (67,069)
Purchases of short-term investments (394,467) (196,776)
Interest income paid-in-kind (35,454) (28,272)
Proceeds from sales and paydowns of investments 132,149 52,062
Proceeds from sales of short-term investments 298,338 79,262
Realized gain on short-term investments (1,538) (548)
Net realized loss on investments 101,643 0
Net change in unrealized (appreciation)/depreciation on investments 14,478 60,908
Amortization of premium and accretion of discount, net (1,071) (2,466)
Amortization of deferred financing costs 647 930
Increase (decrease) in operating assets and liabilities:    
(Increase) decrease in interest income receivable 3,510 6,476
(Increase) decrease in due from Adviser 105 46
(Increase) decrease in prepaid and other assets 61 48
Increase (decrease) in payable for short-term investments purchased 97,667 118,062
Increase (decrease) in incentive fees payable (35,680) (36,365)
Increase (decrease) in management fees payable (255) 29
Increase (decrease) in interest and credit facilities expense payable (291) (1,006)
Increase (decrease) in other accrued expenses and liabilities (202) 20
Net cash provided by operating activities 79,774 9,856
Cash Flows from Financing Activities    
Distributions to Members from distributable earnings 0 (4,980)
Deferred financing costs paid 0 (523)
Proceeds from credit facilities 35,500 63,000
Repayments of credit facilities (122,000) (105,000)
Net cash used in financing activities (86,500) (47,503)
Net decrease in cash and cash equivalents (6,726) (37,647)
Cash and cash equivalents, beginning of period 14,501 65,036
Cash and cash equivalents, end of period 7,775 27,389
Supplemental and non-cash operating and financing activities    
Interest expense paid 9,462 9,658
Non-cash purchases of investments due to reorganization (200,755) (75,317)
Non-cash sales of investments due to reorganization 200,755 75,317
Proceeds from secured borrowing 296,751 93,694
Payment to secured borrowing (296,751) (93,694)
Distributions payable $ 0 $ 20