v3.25.2
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash Flows from Operating Activities:          
Net increase (decrease) in net assets resulting from operations $ 21,059,933 $ 15,539,291 $ 35,630,799 $ 26,643,663  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Payments for purchases of investments     (746,905,463) (518,909,504)  
Proceeds from sales of investments and principal repayments     240,389,929 118,997,082  
Net realized (gain) loss on investments     1,882,461 1,027,779  
Net realized (gain) loss on foreign currency transactions 69,249 (573,792) 70,669 (573,792)  
Net proceeds (payments) from sales (purchases) of short term securities     (4,779,023) 15,208,974  
Net change in unrealized (appreciation) depreciation on investments     10,659,053 (620,945)  
Net change in unrealized (appreciation) depreciation on foreign currency translation     308,827 25,837  
Payment-in-kind interest capitalized     (442,454) 0  
Net accretion of discount and amortization of premium     (4,455,200) (1,277,144)  
Amortization of deferred financing and debt issuance costs 820,257 305,908 1,320,763 551,839  
Amortization of deferred offering costs     0 291,680  
Changes in operating assets and liabilities          
(Increase) decrease in receivables from sales and paydowns of investments     (3,158,395) (1,478,491)  
(Increase) decrease in receivable for daily variation margin on centrally cleared swaps     (272,068) 0  
(Increase) decrease in interest receivable     (4,643,780) (5,763,010)  
(Increase) decrease in dividend receivable     (329,332) (12,065)  
(Increase) decrease in due from affiliates, net     0 561,250  
(Increase) decrease in prepaid expenses and other assets     64,481 20,453  
Increase (decrease) in payable for purchases of investments     (3,012,298) (16,476,014)  
Increase (decrease) in deferred revenue     406,402 0  
Increase (decrease) in interest payable     4,988,425 1,254,270  
Increase (decrease) in excise tax payable     0 (66,312)  
Increase (decrease) in management fee payable     271,016 1,198,148  
Increase (decrease) in due to affiliates, net     (109,714) 360,526  
Increase (decrease) in other accounts payable and accrued liabilities     287,777 402,600  
Net Cash Provided by (Used in) Operating Activities     (472,076,489) (376,506,676)  
Cash Flows from Financing Activities:          
Payment of deferred financing and debt issuance costs     (11,058,741) (3,639,878)  
Proceeds from issuance of common shares     261,319,749 173,450,193  
Repurchased shares, net of early repurchase deduction paid     (11,720,141) (602,475)  
Capital distributions     (22,750,311) (10,255,322)  
Proceeds from borrowings     759,992,138 300,000,000  
Repayment of borrowings     (490,029,646) (40,294,309)  
Net Cash Provided by (Used in) Financing Activities     485,753,048 418,658,209  
Net increase (decrease) in Cash, Foreign cash, and Segregated cash with brokers for derivative instruments     13,676,559 42,151,533  
Effect of foreign currency exchange rates changes     21,315 (6,195)  
Cash, Foreign cash, and Segregated cash with brokers for derivative instruments, beginning of the period     18,338,229 1,436,609 $ 1,436,609
Cash, Foreign cash, and Segregated cash with brokers for derivative instruments, End of the Period 32,036,103 43,581,947 32,036,103 43,581,947 18,338,229
Supplemental Information and Non-Cash Financing Activities          
Non-cash distributions     27,613,033 14,070,393  
Reinvestment of distributions     (27,613,033) (14,070,393)  
Non-cash purchases of payment-in-kind securities     442,454 0  
Non-cash interest income from payment-in-kind securities     (442,454) 0  
Cash paid for state and federal taxes     337,100 66,312  
Cash paid for interest expense     21,604,486 8,258,495  
The amounts included in Cash, Foreign cash, and Segregated cash with brokers for derivative instruments include the following:          
Cash 27,341,137 43,581,947 27,341,137 43,581,947 18,260,082
Foreign cash 241,532 0 241,532 0  
Segregated cash with brokers for derivative instruments 4,453,434 0 4,453,434 0 0
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Total $ 32,036,103 $ 43,581,947 32,036,103 43,581,947 $ 18,338,229
Income Based Incentive Fee [Member]          
Changes in operating assets and liabilities          
Increase (decrease) in income based incentive fee payable     573,053 2,108,026  
Capital Gains Incentive Fees [Member]          
Changes in operating assets and liabilities          
Increase (decrease) in income based incentive fee payable     $ (822,417) $ 18,474