v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Total investments at fair value $ 3,313,441 [1],[2] $ 3,347,317 [3],[4]
Cash and cash equivalents (restricted cash of $28,072 and $16,727, respectively) 29,178 19,662
Interest receivable 34,547 34,132
Prepaid expenses and other assets 15,983 20,544
Total Assets 3,393,149 3,421,655
Liabilities    
Debt (net of deferred financing costs of $22,693 and $24,411, respectively) 1,803,391 [5],[6] 1,743,234 [7],[8]
Management fees payable to affiliate 12,275 12,794
Incentive fees on net investment income payable to affiliate 8,451 10,336
Incentive fees on net capital gains accrued to affiliate 0 0
Other liabilities 23,551 44,404
Total Liabilities 1,850,476 1,813,934
Commitments and contingencies (Note 8)
Net Assets    
Preferred stock, $0.01 par value; 100,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.01 par value; 400,000,000 shares authorized, 95,683,850 and 95,369,400 shares issued, respectively; and 95,019,600 and 94,705,150 shares outstanding, respectively 957 954
Additional paid-in capital 1,541,068 1,535,583
Treasury stock at cost; 664,250 and 664,250 shares held, respectively (10,459) (10,459)
Distributable earnings 11,107 81,643
Total Net Assets 1,542,673 1,607,721
Total Liabilities and Net Assets $ 3,393,149 $ 3,421,655
Net Asset Value Per Share $ 16.24 $ 16.98
Affiliated Entity    
Liabilities    
Other payables to affiliate $ 2,808 $ 3,166
Non-controlled, Non-affiliated Investments    
Assets    
Total investments at fair value 3,240,271 3,288,945
Non-controlled, Affiliated Investments    
Assets    
Total investments at fair value 14,665 0
Controlled, Affiliated Investments    
Assets    
Total investments at fair value $ 58,505 $ 58,372
[1] In accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 820, Fair Value Measurements (“ASC Topic 820”), unless otherwise indicated, the fair values of all investments were determined using significant unobservable inputs and are considered Level 3 investments. See Note 6 for further information related to investments at fair value.
[2] Unless otherwise indicated, the Company’s portfolio companies are domiciled in the United States. Certain portfolio company investments are subject to contractual restrictions on sales.
[3] Certain portfolio company investments are subject to contractual restrictions on sales.
[4] In accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 820, Fair Value Measurements (“ASC Topic 820”), unless otherwise indicated, the fair values of all investments were determined using significant unobservable inputs and are considered Level 3 investments. See Note 6 for further information related to investments at fair value.
[5] The carrying values of the 2026 Notes, 2028 Notes, 2029 Notes and 2030 Notes are presented inclusive of an incremental $(3.7) million, $2.1 million, $0.6 million and $5.7 million, respectively, which represents an adjustment in the carrying values of the 2026 Notes, 2028 Notes, 2029 Notes and 2030 Notes, each resulting from a hedge accounting relationship.
[6] The carrying values of the Revolving Credit Facility, 2026 Notes, 2028 Notes, 2029 Notes and 2030 Notes are presented net of the combination of deferred financing costs and original issue discounts totaling $14.2 million, $0.4 million, $3.0 million, $4.9 million and $6.2 million, respectively.
[7] The carrying values of the 2026 Notes, 2028 Notes, 2029 Notes and 2030 Notes are presented inclusive of an incremental $(5.8) million, $4.5 million, $3.3 million and $8.3 million, respectively, which represents an adjustment in the carrying values of the 2026 Notes, 2028 Notes, 2029 Notes and 2030 Notes, each resulting from a hedge accounting relationship.
[8] The carrying values of the Revolving Credit Facility, 2026 Notes, 2028 Notes, 2029 Notes and 2030 Notes are presented net of the combination of deferred financing costs and original issue discounts totaling $15.1 million, $0.7 million, $3.3 million, $5.3 million and $6.6 million, respectively.