v3.25.4
Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value $ 1,534,345 [1] $ 2,087,081 [2]
1st Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 1,468,487 1,992,547
1st Lien/Last-Out Unitranche    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 29,474 22,642
2nd Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 2,526 3,587
Unsecured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 6,654 14,969
Preferred Stock    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 23,007 34,482
Common Stock    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 3,974 18,475
Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 1,534,345 2,071,217
Level 3 | 1st Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 1,468,487 1,976,683
Level 3 | 1st Lien/Last-Out Unitranche    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 29,474 22,642
Level 3 | 2nd Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 2,526 3,587
Level 3 | Unsecured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 6,654 14,969
Level 3 | Preferred Stock    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 23,007 34,482
Level 3 | Common Stock    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value 3,974 18,475
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 1,380,870 $ 1,896,625
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5] 0.082 0.083
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5] 0.203 0.33
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.111 0.116
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 24,375 $ 22,642
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.113 0.122
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 6,654 $ 14,969
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5]   10.8
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5]   17.3
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Unsecured Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.147 0.145
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Recovery Rate | 1st Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 12,300 $ 181
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Recovery Rate | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 75.3 17.5
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 6,761  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Collateral Analysis | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.3  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 46,760  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5] 4.8  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5] 8.2  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 7.6  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Last-Out Unitranche    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 5,099  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Last-Out Unitranche | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.087  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 2nd Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4] $ 2,526 $ 3,587
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | 2nd Lien/Senior Secured Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6],[7] 9 9.5
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt investments, Fair Value [3],[4]   $ 18,734
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5]   0.4
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5]   1
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6]   0.8
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Fair Value [3],[4] $ 7,132 $ 19,231
Equity, Range of Significant Unobservable Inputs [5],[7] 13 13.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [5],[7] 20 20.8
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [6],[7] 19.9 20.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Fair Value [3],[4] $ 3,250 $ 4,382
Equity, Range of Significant Unobservable Inputs [5],[7] 3.5 7
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [5],[7] 13 13.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [6],[7] 11.3 10.6
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Fair Value [3],[4] $ 223 $ 379
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [6] 3.9 4.2
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Preferred Stock | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Fair Value [3],[4] $ 15,875 $ 15,251
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Preferred Stock | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [6] 3.9 4.2
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Common Stock | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Fair Value [3],[4] $ 724 $ 14,093
Equity, Range of Significant Unobservable Inputs [5]   1.5
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Common Stock | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [5]   10
Equity | Level 3 | Valuation, Comparable Multiples | Measurement Input, Revenue Multiple | Common Stock | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity, Range of Significant Unobservable Inputs [6] 7.3 2.7
[1] For Industry subtotal and percentage, see Note 4 "Investments."
[2] For Industry subtotal and percentage, see Note 4 "Investments."
[3] As of December 31, 2025, included within Level 3 assets of $1,534,345 is an amount of $21,796 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and transaction prices). The income approach was used in the determination of fair value for $1,411,899 or 93.7% of Level 3 bank loans, corporate debt, and other debt obligations.
[4] As of December 31, 2024, included within Level 3 assets of $2,071,217 is an amount of $61,143 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and transaction prices). The income approach was used in the determination of fair value for $1,934,236 or 95.9% of Level 3 bank loans, corporate debt, and other debt obligations.
[5] The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded.
[6] Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment.
[7] Enterprise value of portfolio company as a multiple of earnings before interest, taxes, depreciation and amortization (“EBITDA”).