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 Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value $ 15,674,510 [1] $ 7,273,815
1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 15,033,160 7,006,800
1st Lien/Last-Out Unitranche    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 297,348 261,643
2nd Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 110,097  
Preferred Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 2,093  
Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 5,282 5,372
Warrants    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 29  
Structured Finance Obligation - Debt Instruments    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 172,100  
Structured Finance Obligation - Equity Instruments    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 54,401  
Level 3    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 12,146,614 5,398,349
Level 3 | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 11,805,070 5,131,334
Level 3 | 1st Lien/Last-Out Unitranche    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 297,348 261,643
Level 3 | 2nd Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 36,792  
Level 3 | Preferred Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 2,093  
Level 3 | Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 5,282 5,372
Level 3 | Warrants    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 29  
Level 3 | Measurement Input, EV/EBITDA | Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value [2]   5,372
Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 8,340,684 [3] 3,711,830 [2]
Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value 239,601 [3] $ 261,643 [2]
Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value [3] 33,352  
Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value [3] $ 18,800  
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 Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4] 0.064 0.074 [5]
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 Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4] 0.173 0.141 [5]
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 Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.091 0.097 [5]
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4] 0.061 0.062 [5]
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Last-Out Unitranche | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4] 0.113 0.114 [5]
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 Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.086 0.105 [5]
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4] 0.109  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4] 0.118  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 2nd Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.115  
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | 1st Lien/Senior Secured Debt | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [6] 0.10  
Equity | Level 3 | Measurement Input, EV/EBITDA | Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5],[6],[7]   0.129
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value [3] $ 37  
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | Preferred Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5],[6] 0.13  
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value [3] $ 5,272  
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Minimum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4],[5] 0.095 0.10 [7]
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Maximum    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [4],[5] 0.13 0.135 [7]
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/EBITDA | Common Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5],[6] 0.116  
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/Revenue | Preferred Stock    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value [3] $ 2,056  
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/Revenue | Preferred Stock | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5],[6] 0.039  
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/Revenue | Warrants    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Business acquisition, investment owned fair value [3] $ 29  
Equity | Level 3 | Valuation Technique, Comparable Multiples | Measurement Input, EV/Revenue | Warrants | Weighted Average    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Debt Investments, Range of Significant Unobservable Inputs [5],[6] 0.039  
[1] For Industry subtotal and percentage, see Note 4 “Investments.”
[2] As of December 31, 2024, included within the fair value of Level 3 assets of $5,398,349 is an amount of $1,419,504 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 $3,973,473 or 73.7% of Level 3 bank loans, corporate debt, and other debt obligations.
[3] As of December 31, 2025, included within the fair value of Level 3 assets of $12,146,614 is an amount of $3,506,783 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 $8,613,637 or 71.0% of Level 3 bank loans, corporate debt, and other debt obligations.
[4] The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded.
[5] The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques.
[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”).