v3.26.1
Debt Obligations (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt Obligations and The Loan Receivable Balances Designated Pledged as Collateral

The following table summarizes the Company’s debt obligations and the loan receivable balances designated pledged as collateral (in ‘000s):

Debt Obligation

 

Outstanding
Balance as of
December 31,
2025

 

 

Outstanding
Balance as of
December 31,
2024

 

 

Interest Rate at
December 31,
2025
(1)

 

 

Value of
Underlying
Collateral as of
December 31,
2025

 

 

Credit facility

 

$

 

 

$

38,000

 

 

 

 

 

N/A

 

(2)

Morgan Stanley repurchase agreement

 

 

445,327

 

 

 

246,491

 

 

 

5.77

%

 

 

594,140

 

 

Citibank repurchase agreement

 

 

102,960

 

 

 

 

 

 

5.35

%

 

 

131,410

 

 

Note payable

 

 

79,995

 

 

 

119,707

 

 

 

4.95

%

 

 

105,256

 

 

HSBC Loan

 

 

143,768

 

 

 

141,330

 

 

 

5.36

%

 

 

191,690

 

 

Total

 

$

772,050

 

 

$

545,528

 

 

 

 

 

$

1,022,496

 

 

 

(1)
The above rates are the weighted average interest rates of floating rate loans and are presented using SOFR or the Prime Rate or the applicable SOFR or Prime Rate floor plus the applicable spread as of December 31, 2025.
(2)
The Credit Facility is secured by all collateral of the fund, which is defined as the unfunded commitments of the investors. See Credit Facility note below for further details.
Schedule of Maturity of Debt Obligations

The following schedule reflects the Company’s contractual payments under all borrowings by maturity (in ‘000s):

Year ending December 31,

 

Borrowing
by Maturity

 

2026

 

$

 

2027

 

 

772,050

 

2028

 

 

 

2029

 

 

 

2030

 

 

 

 

 

 

 

Total

 

$

772,050