v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows provided by/(used in) operating activities:    
Net increase/(decrease) in net assets resulting from operations $ 29,832 $ 27,087
Adjustments to reconcile net increase/(decrease) in net assets resulting from operation to net cash provided by/(used in) operating activities:    
Purchase of investments, net of deferred fees (299,632) (218,458)
Proceeds from sales and paydowns of investments 238,315 157,087
Net change in unrealized (appreciation)/depreciation from investments 4,726 3,142
Net realized (gain)/loss from investments 9,930 2,154
Accretion of original issue discounts and end of term payments on investments (15,627) (11,044)
Amortization of deferred financing costs 1,406 1,276
Stock-based compensation 3,249 2,609
Change in operating assets and liabilities    
(Increase)/Decrease in interest receivable 957 (84)
(Increase)/Decrease in other assets (5,017) (17,323)
Increase/(Decrease) in security deposits (774) (1,457)
Increase/(Decrease) in accounts payable, accrued expenses and other liabilities (13,130) (8,330)
Net cash provided by/(used in) operating activities (45,765) (63,341)
Cash flows provided by/(used in) investing activities:    
Disposal/(Acquisition) of fixed assets (415) (106)
Net cash provided by/(used in) investing activities (415) (106)
Cash flows provided by/(used in) financing activities    
Issuance of common stock, net of issuance costs 78,283 30,468
Retirement of employee shares (1,643) (1,695)
Cash distributions paid (83,522) (31,154)
Issuance of Secured Notes, net of issuance costs 40  
Issuance of Unsecured Notes, net of issuance costs (57) 3,343
Repayment of Unsecured Notes   (217,756)
Borrowings under Credit Facility 347,800 398,000
Repayments under Credit Facility (294,200) (119,000)
Net cash provided by/(used in) financing activities 46,701 62,206
Net increase/(decrease) in cash, cash equivalents and restricted cash 521 (1,241)
Cash, cash equivalents and restricted cash at beginning of period 19,110 9,627
Cash, cash equivalents and restricted cash at end of period 19,631 8,386
Supplemental and non-cash investing and financing activities:    
Cash paid for interest 23,415 13,966
Income tax, including excise tax, paid 2,876 2,722
Non-cash purchase of investments through issuance of common stock 4,483  
Distribution payable   32,579
Distributions reinvested $ 732 $ 297