v3.25.4
Borrowings - 2022 Asset-Backed Securitization (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 18, 2025
Dec. 31, 2024
Nov. 21, 2024
Sep. 15, 2023
Apr. 07, 2022
Borrowings            
Total aggregate principal amount committed/ outstanding $ 4,250,797   $ 2,656,207      
Fair value 5,819,755 [1],[2]   4,008,973 [3],[4]      
2022 ABS            
Borrowings            
Total aggregate principal amount committed/ outstanding 234,697   294,609     $ 425,000
2022 ABS | Asset pledged as collateral            
Borrowings            
Fair value $ 312,260   $ 396,560      
Class A Senior Secured Notes            
Borrowings            
Total aggregate principal amount committed/ outstanding   $ 320,000   $ 163,200 $ 160,750 $ 261,375
Interest rate           4.05%
Weighted average interest rate 4.10%   4.10%      
Class B Senior Secured Notes            
Borrowings            
Total aggregate principal amount committed/ outstanding   55,000   25,500 $ 25,100 $ 44,625
Interest rate         11.16% 5.15%
Weighted average interest rate 5.20%   5.20%      
Class C Senior Secured Notes            
Borrowings            
Total aggregate principal amount committed/ outstanding   $ 40,000   $ 20,400   $ 36,125
Interest rate           7.75%
Subordinated 2022 Notes            
Borrowings            
Total aggregate principal amount committed/ outstanding           $ 82,875
[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).