v3.26.1
Consolidated Statement of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Cash flows from operating activities  
Net increase/(decrease) in Net Assets resulting from operations $ 14,121
Adjustments to reconcile net increase/(decrease) in Net Assets resulting from operations to net cash, cash equivalents provided by/(used in) operating activities:  
Amortization of debt issuance and financing costs 1,362
Accretion/amortization of original issue discount/premium on investments (1,198)
Paid-in-kind interest on investments (170)
Net realized gain/(loss) on investments (18)
Net change in unrealized gain/(loss) on investments 13,957
Net change in unrealized gain/(loss) on forward foreign currency contracts (167)
Net change in unrealized gain/(loss) on foreign currency translation on loans payable 648
Purchases of investments and derivatives (1,673,093)
Proceeds from sales and paydowns of investments 171,664
Changes in operating assets and liabilities:  
(Increase)/decrease in interest receivable (11,503)
(Increase)/decrease in receivable for investments sold (13,960)
(Increase)/decrease in deferred offering costs (700)
(Increase)/decrease in other assets (698)
Increase/(decrease) in interest payable 2,823
Increase/(decrease) in due to payable for investments purchased 89,767
Increase/(decrease) in incentive fee payable 2,530
Increase/(decrease) in accrued expenses and other liabilities 2,567
Net cash provided by/(used in) operating activities (1,402,068)
Cash flows from financing activities  
Proceeds from issuance of common shares 871,891
Distribution paid to Shareholders, net of distribution payable (19,541)
Capital Allocation paid to Shareholders (658)
Payment for debt issuance and financing costs (11,251)
Drawdown on loans 1,382,540
Repayment of loans (725,700)
Net cash provided by/(used in) financing activities 1,497,281
Net increase/(decrease) in cash, foreign currencies, cash equivalents and restricted cash, restricted foreign currencies, restricted cash equivalents 95,213
Cash, foreign currencies, cash equivalents and restricted cash, restricted foreign currencies, restricted cash equivalents at end of year 95,213
Supplemental disclosure of cash flow information:  
Cash paid during the period for interest 8,533
Cash paid during the period for taxes 30
Distributions declared for the year 25,499
Supplemental disclosure of non-cash financing activities:  
Shares issued in connection with the reinvestment plan 3,575
Change in distribution payable $ 5,958