Secured Debt Arrangements (Tables)

12 Months Ended

Dec. 31, 2025

Disclosure of Repurchase Agreements [Abstract]

Summary of Borrowings Under Secured Debt Arrangements

The Company's borrowings under secured debt arrangements at December 31, 2025 and December 31, 2024 are detailed in the following table ($ in thousands):


	December 31, 2025													December 31, 2024
		Maximum Amount of Borrowings				Borrowings Outstanding				Weighted Average Borrowing Costs		Maturity Date (1)		Maximum Amount of Borrowings				Borrowings Outstanding				Weighted Average Borrowing Costs		Maturity Date (1)
JPM Repurchase Facility		$	400,000			$	240,069			SOFR + 2.02%		October 2028		$	250,000			$	139,985			SOFR + 2.42%		October 2028
Barclays Repurchase Facility			500,000				69,535			SOFR + 1.75%		July 2030			-				-			N/A		N/A
BofA Repurchase Facility		N/A					40,017			SOFR + 0.55%		March 2026			-				-			N/A		N/A
Total secured debt arrangements						$	349,621			SOFR + 1.80%								$	139,985
Less: Unamortized deferred financing costs							(1,511	)											(1,065	)
Total secured debt arrangements, net						$	348,110											$	138,920

(1) Maturity date assumes extensions at the Company's option are exercised with consent of the financing provider.

Summary of Maturities of Borrowings

At December 31, 2025, the Company's borrowings had the following maturities ($ in thousands):


		Less than 1 year				1 to 3 years				3 to 5 years				More than 5 years				Total
JPM Repurchase Facility		$	-			$	14,481			$	225,588			$	-			$	240,069
Barclays Repurchase Facility			-				-				69,535				-				69,535
BofA Repurchase Facility			40,017				-				-				-				40,017
Total		$	40,017			$	14,481			$	295,123			$	-			$	349,621