v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flow from operating activities    
Net increase (decrease) in net assets resulting from operations $ 13,127 $ 9,225
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:    
Accrued interest and dividends received in-kind (84) 0
Net accretion of discount and amortization of premium (1,029) (473)
Proceeds from sale of investments and principal repayments 128,747 11,817
Purchases of investments (194,791) (282,502)
Net realized (gains) losses on investments 439 4
Net change in unrealized (appreciation) depreciation on investments 3,834 172
Amortization of deferred financing costs 353 306
Amortization of continuous offering costs 1,778 616
Changes in operating assets and liabilities:    
Interest and dividends receivable (1,604) (1,388)
Prepaid expenses and other assets (125) (267)
Due to affiliates (64) 53
Due from adviser (269) (321)
Accrued administration expense 52 (88)
Accrued professional fees (90) (134)
Accrued expenses and other liabilities (348) 94
Accrued interest and other borrowing costs 1,072 298
Net cash provided by (used in) operating activities (49,002) (262,588)
Cash flow from financing activities    
Proceeds from issuance of shares 1,014 50,000
Borrowings under credit facility 139,400 79,100
Debt repayments (70,000) (5,000)
Distributions paid (15,294) (7,394)
Deferred financing costs paid (977) (1,313)
Deferred offering costs paid (1,603) (1,901)
Net cash provided by (used in) financing activities 52,540 113,492
Net decrease in cash and cash equivalents 3,538 (149,096)
Cash and cash equivalents, beginning of period 21,319 183,395
Cash and cash equivalents, end of period 24,857 34,299
Supplemental disclosure of cash flow information and non-cash financing activities    
Interest paid during the period 11,391 0
Distributions payable 2,552 2,239
Accrued but unpaid share repurchases 73 0
Accrued but unpaid offering costs 288 187
Reinvestment of distributions 6 0
Excise taxes paid $ 72 $ 0