v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Investments in securities of unaffiliated issuers at fair value (cost $3,008,238 and $1,567,756, respectively) $ 3,008,628 $ 1,570,542
Cash and restricted cash 24,169 7,952
Cash equivalents and restricted cash equivalents 145,625 23,292
Interest receivable 19,327 11,272
Prepaid and other assets 759 0
Receivables for investments sold 361 0
Due from affiliate 0 0
Receivable from Advisor 0 731
Total assets 3,198,869 1,613,789
Liabilities    
Lines of credit (net of unamortized debt issuance costs of $12,022 and $7,466, respectively) 774,648 654,704
Debt securitizations (net of unamortized debt issuance costs of $3,112 and $-, respectively) 344,888 0
Unsecured notes (net of unamortized debt issuance costs of $1,751 and $-, respectively) 147,949 0
Distributions payable 43,330 22,954
Interest payable 10,117 4,513
Management fee payable 4,422 2,167
Incentive fee payable 3,449 1,983
Subscriptions received in advance 2,100 0
Derivative liabilities 316 0
Repurchase offer payable 142 1,742
Directors' fees payable 81 38
Payables for investments purchased 0 7,555
Accrued expenses and other liabilities 2,960 1,748
Total liabilities 1,334,402 697,404
Commitments and contingencies (Note 8); Recoupments (Note 3)
Shareholders' equity    
Shares, no par value, unlimited shares authorized, 71,614,193 and 35,246,926, respectively, shares issued and outstanding 1,870,093 915,356
Distributable earnings (accumulated loss) (5,626) 1,029
Total net assets 1,864,467 916,385
Total liabilities and net assets $ 3,198,869 $ 1,613,789
Net asset value per share $ 26.03 $ 26