v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net increase in members' capital from operations: $ 79,311 $ 69,758 $ 105,209
Adjustments to reconcile net increase (decrease) in members' capital from operations to net cash provided by (used for) operating activities:      
Purchases of investments (51,982) (264,960) (185,802)
Payment-in-kind interest capitalized (21,489) (30,199) (22,992)
Investments in affiliated money market fund, net (40,327) 171,177 (133,325)
Proceeds from sales of investments and principal repayments 606,581 627,329 339,330
Net realized (gain) loss on investments 4,354 112,068 29,772
Net change in unrealized (appreciation) depreciation on investments 24,804 (41,907) 24,864
Net change in unrealized (appreciation) depreciation on foreign currency transactions (28) 78 (58)
Amortization of premium and accretion of discount, net (9,532) (12,652) (13,735)
Amortization of deferred financing costs 3,125 3,191 3,387
Change in operating assets and liabilities:      
(Increase) decrease in interest and dividends receivable 2,447 8,463 6,568
(Increase) decrease in other assets 56 (223) 2,339
Increase (decrease) in interest and other debt expenses payable (9,173) (11,305) 7,157
Increase (decrease) in management fees payable (437) (335) (110)
Increase (decrease) in incentive fees payable 13,995 12,311 18,566
Increase (decrease) in accrued expenses and other liabilities (217) 301 (1,177)
Net cash provided by (used for) operating activities 601,488 643,095 179,993
Cash flows from financing activities:      
Proceeds from issuance of common units     14,758
Distributions paid (234,003) (173,244) (204,598)
Financing costs paid (44) (90) (4,627)
Borrowings on debt     81,815
Repayments of debt (372,720) (465,651) (80,748)
Net cash provided by (used for) financing activities (606,767) (638,985) (193,400)
Net increase (decrease) in cash (5,279) 4,110 (13,407)
Effect of foreign exchange rate changes on cash 28 (78) 58
Cash, beginning of period 27,340 23,308 36,657
Cash, end of period 22,089 27,340 23,308
Supplemental and non-cash activities      
Interest expense paid 59,470 111,150 112,188
Accrued but unpaid distributions 25,077 32,132 50,669
Exchange of investments $ 15,956 $ 207,292 $ 25,934