v3.25.4
Borrowings - SPV Credit Facility (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jul. 15, 2024
Dec. 31, 2025
Dec. 31, 2024
Borrowings      
Fair value   $ 5,819,755 [1],[2] $ 4,008,973 [3],[4]
SPV Credit Facility      
Borrowings      
Maximum borrowing capacity   $ 450,000  
Maximum borrowing capacity, percentage of the principal balance of company's portfolio company investments   72.00%  
Maximum percentage of advance rate on the portfolio   67.00%  
Interest rate, basis spread 2.40%    
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]   Adjusted Term SOFR  
Interest rate, floor   0.50%  
Weighted average interest rate   6.30% 7.00%
SPV Credit Facility | When the outstanding borrowings are less than or equal to 60% of the facility      
Borrowings      
Commitment fee (in percent)   0.50%  
Outstanding borrowings as a percentage of facility amount considered for payment of commitment fee   60.00%  
SPV Credit Facility | When the outstanding borrowings are greater than 60% of the facility      
Borrowings      
Commitment fee (in percent)   0.35%  
Outstanding borrowings as a percentage of facility amount considered for payment of commitment fee   60.00%  
SPV Credit Facility | During the reinvestment period | Minimum      
Borrowings      
Interest rate, basis spread   2.40%  
SPV Credit Facility | During the reinvestment period | Maximum      
Borrowings      
Interest rate, basis spread   2.70%  
SPV Credit Facility | After the reinvestment period      
Borrowings      
Interest rate, basis spread   3.00%  
SPV Credit Facility | Asset pledged as collateral      
Borrowings      
Fair value   $ 583,700 $ 722,845
[1] All of the Company’s investments are issued by eligible portfolio companies, as defined in the Investment Company Act of 1940, as amended, (the “1940 Act”), unless otherwise noted. All of the Company’s investments are issued by U.S. portfolio companies unless otherwise noted.
[2] Except as otherwise noted, because there is no readily available market value for these investments, the fair value of each of these investments is determined in good faith using significant unobservable inputs by the Valuation Designee. (See Note 4 in the accompanying notes to the consolidated financial statements).
[3] All of the Company’s investments are issued by eligible portfolio companies, as defined in the Investment Company Act of 1940, as amended, (the “1940 Act”), unless otherwise noted. All of the Company’s investments are issued by U.S. portfolio companies unless otherwise noted.
[4] Except as otherwise noted, because there is no readily available market value for these investments, the fair value of each of these investments is determined in good faith using significant unobservable inputs by the Valuation Designee. (See Note 4 in the accompanying notes to the consolidated financial statements).