v3.25.4
Borrowings - SPV II Credit Facility (Details) - USD ($)
$ in Thousands
Aug. 06, 2025
Aug. 05, 2025
Dec. 20, 2022
Dec. 31, 2025
Dec. 31, 2024
Borrowings          
Fair value       $ 5,819,755 [1],[2] $ 4,008,973 [3],[4]
SPV II Credit Facility          
Borrowings          
Maximum borrowing capacity     $ 100,000    
Interest rate, floor       0.50%  
Weighted average interest rate       5.90% 6.90%
SPV II Credit Facility | Asset pledged as collateral          
Borrowings          
Fair value       $ 918,299 $ 307,517
SPV II Credit Facility | During the reinvestment period          
Borrowings          
Interest rate, basis spread     2.05%    
SPV II Credit Facility | After the reinvestment period          
Borrowings          
Interest rate, basis spread     3.25%    
SPV II Credit Facility | Line of Credit          
Borrowings          
Maximum borrowing capacity $ 690,000        
Commitment fee (in percent) 0.35%        
SPV II Credit Facility | Line of Credit | During the reinvestment period          
Borrowings          
Interest rate, basis spread 2.05% 2.40%      
SPV II Credit Facility | Line of Credit | After the reinvestment period          
Borrowings          
Interest rate, basis spread 3.25%        
[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).