v3.25.2
Fair Value of Financial Instruments - Schedule of Unobservable Inputs (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
investment
Dec. 31, 2024
USD ($)
investment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value $ 4,083,453 [1],[2],[3] $ 3,966,075 [4],[5],[6]
Number of investments | investment 1 1
Senior Secured First Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value $ 3,120,740 $ 2,965,692
Senior Secured Second Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 150,404 121,927
Subordinated Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 232,792 196,418
Collateralized Securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 6,564 10,893
Equity/Other    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 268,019 266,211
FBLC Senior Loan Fund, LLC    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 304,934 404,934
Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 3,997,407 3,851,424
Level 3 | Senior Secured First Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 3,098,775 2,886,706
Level 3 | Senior Secured First Lien Debt | Unobservable Inputs Not Developed    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 337,233 243,056
Level 3 | Senior Secured First Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 2,625,557 2,491,243
Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 68,916  
Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 32,953 31,874
Level 3 | Senior Secured First Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 34,116 120,533
Level 3 | Senior Secured Second Lien Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 100,297 103,368
Level 3 | Senior Secured Second Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 92,683 95,003
Level 3 | Senior Secured Second Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 0 446
Level 3 | Senior Secured Second Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 7,614 7,919
Level 3 | Subordinated Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 232,792 196,418
Level 3 | Subordinated Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 39,455 37,532
Level 3 | Subordinated Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 9,192 8,788
Level 3 | Subordinated Debt | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 157,100 150,098
Level 3 | Subordinated Debt | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 27,045  
Level 3 | Collateralized Securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 6,564 10,893
Level 3 | Collateralized Securities | Discount Rate | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 1,409 6,407
Level 3 | Collateralized Securities | Discount Margin | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 4,237  
Level 3 | Collateralized Securities | Asset Recovery | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value   4,486
Level 3 | Collateralized Securities | Asset Price | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 918  
Level 3 | Equity/Other    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 254,045 249,105
Level 3 | Equity/Other | Unobservable Inputs Not Developed    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value   12,354
Level 3 | Equity/Other | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 13,436 4,212
Level 3 | Equity/Other | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 6,006 21
Level 3 | Equity/Other | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 27,227 34,572
Level 3 | Equity/Other | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 196,544 196,541
Level 3 | Equity/Other | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 9,427  
Level 3 | Equity/Other | Adjusted BV Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 1,405 1,405
Level 3 | FBLC Senior Loan Fund, LLC    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value 304,934 404,934
Level 3 | FBLC Senior Loan Fund, LLC | Discount Rate | Discounted Cash Flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investments at Fair Value $ 304,934 $ 404,934
Minimum | Level 3 | Senior Secured First Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0240 0.0000
Minimum | Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.30  
Minimum | Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.08 0.2
Minimum | Level 3 | Senior Secured First Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 5.84 5.3
Minimum | Level 3 | Senior Secured Second Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1260 0.1375
Minimum | Level 3 | Senior Secured Second Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.08 0.41
Minimum | Level 3 | Senior Secured Second Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 7.60 4.75
Minimum | Level 3 | Subordinated Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1394 0.1366
Minimum | Level 3 | Subordinated Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 7.60 9.83
Minimum | Level 3 | Subordinated Debt | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.23 1.28
Minimum | Level 3 | Subordinated Debt | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0990  
Minimum | Level 3 | Collateralized Securities | Discount Rate | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.5800 0.0053
Minimum | Level 3 | Collateralized Securities | Discount Margin | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1856  
Minimum | Level 3 | Collateralized Securities | Asset Recovery | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input   2.69
Minimum | Level 3 | Collateralized Securities | Asset Price | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.56  
Minimum | Level 3 | Equity/Other | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0551 0.0807
Minimum | Level 3 | Equity/Other | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.08 0.2
Minimum | Level 3 | Equity/Other | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 2.12 0
Minimum | Level 3 | Equity/Other | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.23 1.28
Minimum | Level 3 | Equity/Other | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0990  
Minimum | Level 3 | Equity/Other | Adjusted BV Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.97 2.25
Minimum | Level 3 | FBLC Senior Loan Fund, LLC | Discount Rate | Discounted Cash Flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1259 0.1296
Maximum | Level 3 | Senior Secured First Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.5056 0.4767
Maximum | Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.30  
Maximum | Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.58 0.55
Maximum | Level 3 | Senior Secured First Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 13.66 19.83
Maximum | Level 3 | Senior Secured Second Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.5500 0.1930
Maximum | Level 3 | Senior Secured Second Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.08 0.41
Maximum | Level 3 | Senior Secured Second Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 13.66 7.5
Maximum | Level 3 | Subordinated Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1394 0.1366
Maximum | Level 3 | Subordinated Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 11.94 11.5
Maximum | Level 3 | Subordinated Debt | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.58 1.58
Maximum | Level 3 | Subordinated Debt | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0990  
Maximum | Level 3 | Collateralized Securities | Discount Rate | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.5800 0.1515
Maximum | Level 3 | Collateralized Securities | Discount Margin | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1856  
Maximum | Level 3 | Collateralized Securities | Asset Recovery | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input   2.75
Maximum | Level 3 | Collateralized Securities | Asset Price | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.33  
Maximum | Level 3 | Equity/Other | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1155 0.1175
Maximum | Level 3 | Equity/Other | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.60 0.41
Maximum | Level 3 | Equity/Other | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 25.00 27.5
Maximum | Level 3 | Equity/Other | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.58 1.58
Maximum | Level 3 | Equity/Other | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0990  
Maximum | Level 3 | Equity/Other | Adjusted BV Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.97 2.25
Maximum | Level 3 | FBLC Senior Loan Fund, LLC | Discount Rate | Discounted Cash Flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1259 0.1296
Weighted Average | Level 3 | Senior Secured First Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1055 0.1066
Weighted Average | Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.30  
Weighted Average | Level 3 | Senior Secured First Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.26 0.28
Weighted Average | Level 3 | Senior Secured First Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 7.03 13.73
Weighted Average | Level 3 | Senior Secured Second Lien Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.2020 0.1620
Weighted Average | Level 3 | Senior Secured Second Lien Debt | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.08 0.41
Weighted Average | Level 3 | Senior Secured Second Lien Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 9.73 6.49
Weighted Average | Level 3 | Subordinated Debt | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1394 0.1366
Weighted Average | Level 3 | Subordinated Debt | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 9.70 9.84
Weighted Average | Level 3 | Subordinated Debt | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.46 1.48
Weighted Average | Level 3 | Subordinated Debt | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0990  
Weighted Average | Level 3 | Collateralized Securities | Discount Rate | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.5800 0.1020
Weighted Average | Level 3 | Collateralized Securities | Discount Margin | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1856  
Weighted Average | Level 3 | Collateralized Securities | Asset Recovery | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input   2.74
Weighted Average | Level 3 | Collateralized Securities | Asset Price | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.9  
Weighted Average | Level 3 | Equity/Other | Market Yield | Yield Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1003 0.0901
Weighted Average | Level 3 | Equity/Other | Revenue Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.60 0.32
Weighted Average | Level 3 | Equity/Other | EBITDA Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 11.99 8.51
Weighted Average | Level 3 | Equity/Other | Tangible Net Asset Value Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.44 1.46
Weighted Average | Level 3 | Equity/Other | Discount Rate | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0990  
Weighted Average | Level 3 | Equity/Other | Adjusted BV Multiple | Waterfall Analysis    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 1.97 2.25
Weighted Average | Level 3 | FBLC Senior Loan Fund, LLC | Discount Rate | Discounted Cash Flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1259 0.1296
[1] Percentages are based on net assets attributable to common stock as of June 30, 2025.
[2] Unless otherwise indicated, all investments in the consolidated schedules of investments are non-affiliated, non-controlled investments.
[3] Unless otherwise indicated, all of the Company's investments or a portion thereof are pledged as collateral under the JPM Revolver Facility.
[4] Percentages are based on net assets attributable to common stock as of December 31, 2024.
[5] Unless otherwise indicated, all investments in the consolidated schedules of investments are non-affiliated, non-controlled investments.
[6] Unless otherwise indicated, all of the Company's investments or a portion thereof are pledged as collateral under the JPM Revolver Facility.