v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investment income:    
Payment-in-kind interest income $ 4,568 $ 3,145
Dividend income 3,911 481
Other income 2,576 455
Total investment income 149,597 113,430
Operating expenses:    
Interest and other debt financing expenses 52,997 39,593
Base management fees 18,942 14,076
Incentive fees 9,613 6,286
Professional fees 1,363 729
Administrative service fees 1,548 962
General and administrative expenses 1,565 949
Directors’ fees 38 38
Total operating expenses before fee waivers 86,066 62,633
Base management fee waivers (3,788) 0
Total operating expenses, net of fee waivers 82,278 62,633
Net investment income before income taxes 67,319 50,797
Income taxes, including excise taxes 27 375
Net investment income 67,292 50,422
Net realized gain (loss):    
Non-controlled/non-affiliate company investments (11,734) 118
Foreign currency forward contracts (87) 54
Foreign currency and other transactions 76 (46)
Net realized gain (loss) (11,745) 126
Net change in unrealized gain (loss):    
Unrealized gain (loss) of investments (18,108) (3,044)
Foreign currency forward contracts (176) (747)
Foreign currency and other transactions 585 (2,757)
Net change in unrealized gain (loss) (17,699) (6,548)
Net gain (loss) (29,444) (6,422)
Net increase (decrease) in net assets resulting from operations $ 37,848 $ 44,000
Per common share data:    
Net investment income per share - basic (in dollars per share) $ 0.23 $ 0.25
Net investment income per share - diluted (in dollars per share) 0.23 0.25
Net increase (decrease) in net assets resulting from operations per share - basic (in dollars per share) 0.13 0.22
Net increase (decrease) in net assets resulting from operations per share - diluted (in dollars per share) $ 0.13 $ 0.22
Weighted average common shares outstanding - basic (in shares) 289,558 203,120
Weighted average common shares outstanding - diluted (in shares) 289,558 203,120
Non-controlled/non-affiliate company investments    
Investment income:    
Interest income $ 136,890 $ 107,561
Payment-in-kind interest income 3,397 2,628
Dividend income 923 481
Other income 2,576 455
Total investment income 143,786 111,125
Net change in unrealized gain (loss):    
Unrealized gain (loss) of investments (7,771) (2,821)
Non-controlled/affiliate company investments    
Investment income:    
Interest income 1,652 1,788
Payment-in-kind interest income 1,171 517
Dividend income 2,988 0
Other income 0 0
Total investment income 5,811 2,305
Net realized gain (loss):    
Non-controlled/non-affiliate company investments 0 0
Net change in unrealized gain (loss):    
Unrealized gain (loss) of investments $ (10,337) $ (223)