v3.25.4
Consolidated Statements of Changes in Net Assets - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net assets at beginning of period $ 4,905,704 $ 1,590,837 $ 1
Increase (decrease) in net assets from operations:      
Net investment income 671,633 328,819 63,841
Net realized gain (loss) (16,860) (3,934) 1,971
Net change in unrealized appreciation (depreciation) (55,875) (3,094) 1,965
Net increase in net assets from operations 598,898 321,791 67,777
Distributions to stockholders from:      
Total distributions to stockholders (660,511) (325,917) (65,578)
Capital transactions:      
Net increase in net assets from capital transactions 3,796,415 3,318,993 1,588,637
Total increase in net assets 3,734,802 3,314,867 1,590,836
Net assets at end of period 8,640,506 4,905,704 1,590,837
Common Stock      
Net assets at beginning of period 4,905,704 1,590,837  
Distributions to stockholders from:      
Distributable earnings to common stockholders (660,511) (325,917) (65,548)
Capital transactions:      
Issuance of shares 4,150,068 3,262,989 1,564,400
Repurchased shares, net of early repurchase deduction (581,068) (66,034)  
Reinvestment of common stockholder distributions 227,415 122,038 24,237
Net assets at end of period $ 8,640,506 $ 4,905,704 $ 1,590,837
Distributions per common share $ 2.29 $ 2.52 $ 1.85
Preferred Shares      
Distributions to stockholders from:      
Distributable earnings to common stockholders     $ (30)
Capital transactions:      
Issuance of shares     515
Redemption of preferred shares     $ (515)