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 increase in net assets resulting from operations $ 23,341 $ 33,835
Adjustments to reconcile the net increase in net assets resulting from operations to net cash used in operating activities:    
Purchases of investments (431,989) (296,247)
Interest income paid-in-kind (8,342) (3,648)
Proceeds from sales and paydowns of investments 121,706 96,071
Net realized loss (gain) on investments 75 (106)
Change in net unrealized (appreciation)/depreciation on investments 21,029 2,595
Amortization of premium and accretion of discount, net (3,703) (3,523)
Amortization of deferred financing costs 1,655 1,562
Increase (decrease) in operating assets and liabilities:    
(Increase) decrease in interest income receivable (1,308) (862)
(Increase) decrease in receivable for investment sold (46) (484)
(Increase) decrease in due from Adviser 0 76
(Increase) decrease in prepaid and other assets 73 505
Increase (decrease) incentive fee payable 4,119 5,968
Increase (decrease) management fees payable 977 535
Increase (decrease) interest and credit facility expense payable 542 2,363
Increase (decrease) directors’ fees payable 99 100
Increase (decrease) other accrued expenses and other liabilities (378) (450)
Net cash used in operating activities (272,150) (161,710)
Cash Flows from Financing Activities    
Contribution from Members 239,000 103,517
Distributions to Members from distributable earnings (50,000) (39,754)
Distributions to Members from return of capital 0 (588)
Offering costs 0 (17)
Deferred financing costs paid (182) (2,665)
Proceeds from credit facilities 276,200 263,000
Repayment of credit facilities (237,000) (197,789)
Net cash provided by financing activities 228,018 125,704
Net decrease in cash and cash equivalents (44,132) (36,006)
Cash and cash equivalents, beginning of period 92,946 83,247
Cash and cash equivalents, end of period 48,814 47,241
Supplemental and non-cash financing activities    
Interest expense paid 16,225 12,427
Decrease in Capital call receivable $ 0 $ (13,866)