Fair Value of Financial Instruments - Schedule of Changes in the Fair Value of Investments (Details) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2026 |
Mar. 31, 2025 |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
$ (455,174)
|
$ (2,664)
|
| First-lien senior secured |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
10,660,972
|
4,341,268
|
| Purchases of investments, net |
922,371
|
389,439
|
| Payment-in-kind |
13,739
|
7,221
|
| Proceeds from investments, net |
(778,940)
|
(240,157)
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(184,623)
|
(2,622)
|
| Net amortization/accretion of discount/premium on investments |
6,696
|
4,493
|
| Transfers into (out of) Level 3 |
(14,297)
|
0
|
| Transfers in from the Mergers |
|
4,594,651
|
| Fair Value, End of Period |
10,616,855
|
9,091,954
|
| First-lien senior secured | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(180,026)
|
(4,994)
|
| First-lien senior secured | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(13,660)
|
33
|
| Second-lien senior secured |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
442,717
|
166,159
|
| Purchases of investments, net |
0
|
2,884
|
| Payment-in-kind |
2,457
|
3,705
|
| Proceeds from investments, net |
0
|
(8,400)
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(27,178)
|
(1,606)
|
| Net amortization/accretion of discount/premium on investments |
114
|
61
|
| Transfers into (out of) Level 3 |
(40,509)
|
0
|
| Transfers in from the Mergers |
|
131,529
|
| Fair Value, End of Period |
377,601
|
291,217
|
| Second-lien senior secured | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(27,178)
|
7,477
|
| Second-lien senior secured | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
0
|
(12,198)
|
| Unsecured |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
477,128
|
336,635
|
| Purchases of investments, net |
629
|
0
|
| Payment-in-kind |
7,145
|
7,505
|
| Proceeds from investments, net |
(30,590)
|
(2,697)
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(5,397)
|
2,398
|
| Net amortization/accretion of discount/premium on investments |
5,357
|
4,600
|
| Transfers into (out of) Level 3 |
0
|
0
|
| Transfers in from the Mergers |
|
111,857
|
| Fair Value, End of Period |
456,403
|
460,216
|
| Unsecured | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(5,397)
|
2,941
|
| Unsecured | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
2,131
|
(625)
|
| Specialty finance |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
37,452
|
5,041
|
| Purchases of investments, net |
0
|
3,266
|
| Payment-in-kind |
616
|
0
|
| Proceeds from investments, net |
(68)
|
0
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
1
|
(17)
|
| Net amortization/accretion of discount/premium on investments |
(1)
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
| Transfers in from the Mergers |
|
20,671
|
| Fair Value, End of Period |
38,000
|
28,961
|
| Specialty finance | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
1
|
(17)
|
| Specialty finance | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
0
|
0
|
| Preferred |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
1,072,481
|
686,858
|
| Purchases of investments, net |
58,989
|
0
|
| Payment-in-kind |
12,219
|
9,865
|
| Proceeds from investments, net |
(51,141)
|
(3,891)
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(113,884)
|
(6,151)
|
| Net amortization/accretion of discount/premium on investments |
486
|
238
|
| Transfers into (out of) Level 3 |
0
|
0
|
| Transfers in from the Mergers |
|
261,633
|
| Fair Value, End of Period |
982,150
|
948,590
|
| Preferred | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(118,212)
|
(6,151)
|
| Preferred | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
7,328
|
38
|
| Common |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
684,030
|
468,725
|
| Purchases of investments, net |
21,176
|
9,517
|
| Payment-in-kind |
0
|
0
|
| Proceeds from investments, net |
(134,272)
|
0
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(123,312)
|
7,008
|
| Net amortization/accretion of discount/premium on investments |
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
(3,092)
|
| Transfers in from the Mergers |
|
65,525
|
| Fair Value, End of Period |
564,590
|
547,583
|
| Common | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(114,113)
|
6,908
|
| Common | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
107,769
|
0
|
| Specialty finance |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
215,864
|
69,836
|
| Purchases of investments, net |
649
|
6,882
|
| Payment-in-kind |
0
|
0
|
| Proceeds from investments, net |
(46,236)
|
(76)
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(781)
|
(1,674)
|
| Net amortization/accretion of discount/premium on investments |
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
| Transfers in from the Mergers |
|
91,382
|
| Fair Value, End of Period |
169,497
|
166,350
|
| Specialty finance | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(780)
|
(1,674)
|
| Specialty finance | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
0
|
0
|
| Total |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Fair value, beginning of period |
13,590,644
|
6,074,522
|
| Purchases of investments, net |
1,003,814
|
411,988
|
| Payment-in-kind |
36,176
|
28,296
|
| Proceeds from investments, net |
(1,041,247)
|
(255,221)
|
| Net amortization/accretion of discount/premium on investments |
12,652
|
9,392
|
| Transfers into (out of) Level 3 |
(54,806)
|
(3,092)
|
| Transfers in from the Mergers |
|
5,277,248
|
| Fair Value, End of Period |
13,205,096
|
11,534,871
|
| Total | Net change in unrealized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
(445,705)
|
4,490
|
| Total | Net realized gain (loss) |
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
| Net change in unrealized gain (loss) / Net realized gains (losses) |
$ 103,568
|
$ (12,752)
|