v3.26.1
Fair Value Measurements - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Recurring Level 3 Fair Value Measurements of Assets and Liabilities (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Fair Value Measurements    
Fair value $ 5,804,557 [1],[2] $ 5,819,755 [3],[4]
Loans at fair value where valuation (unadjusted) is obtained from third-party pricing service 286,369 367,326
Senior secured loans    
Fair Value Measurements    
Fair value 5,029,403 5,090,861
Unitranche secured loans    
Fair Value Measurements    
Fair value 18,159 35,414
Junior secured loans    
Fair Value Measurements    
Fair value 320,109 277,025
Equity investments    
Fair Value Measurements    
Fair value 436,886 416,455
Level 3 | Total Level 3 Assets    
Fair Value Measurements    
Fair value 5,517,991 5,452,284
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow    
Fair Value Measurements    
Fair value $ 3,422,849 $ 3,428,212
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 11.2 11.1
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 4.3 4.3
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 35.6 36.4
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 40,867 $ 61,795
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 7.5 7.2
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 4.8 5.5
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 11.9 12.0
Level 3 | Senior secured loans | EBITDA Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.097 0.096
Level 3 | Senior secured loans | EBITDA Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.076 0.072
Level 3 | Senior secured loans | EBITDA Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.201 0.198
Level 3 | Senior secured loans | Revenue Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.093 0.094
Level 3 | Senior secured loans | Revenue Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.080 0.075
Level 3 | Senior secured loans | Revenue Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.225 0.200
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow    
Fair Value Measurements    
Fair value $ 1,237,165 $ 1,192,777
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 6.7 7.2
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 1.0 1.0
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 13.0 14.0
Level 3 | Senior secured loans | Revenue multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 41,598 $ 43,978
Level 3 | Senior secured loans | Revenue multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 2.6 2.6
Level 3 | Senior secured loans | Revenue multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 0.5 0.5
Level 3 | Senior secured loans | Revenue multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 5.8 5.3
Level 3 | Senior secured loans | Probability weighting of alternative outcomes | Liquidation    
Fair Value Measurements    
Fair value $ 4,452 $ 4,452
Level 3 | Senior secured loans | Probability weighting of alternative outcomes | Liquidation | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.440 0.440
Level 3 | Senior secured loans | Probability weighting of alternative outcomes | Liquidation | Minimum    
Fair Value Measurements    
Investments, measurement input 0.440 0.440
Level 3 | Senior secured loans | Probability weighting of alternative outcomes | Liquidation | Maximum    
Fair Value Measurements    
Investments, measurement input 0.440 0.440
Level 3 | Unitranche secured loans | EBITDA multiples | Discounted cash flow    
Fair Value Measurements    
Fair value   $ 18,186
Level 3 | Unitranche secured loans | EBITDA multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input   10.5
Level 3 | Unitranche secured loans | EBITDA multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input   10.5
Level 3 | Unitranche secured loans | EBITDA multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input   10.5
Level 3 | Unitranche secured loans | Market yields | Discounted cash flow    
Fair Value Measurements    
Fair value $ 995  
Level 3 | Unitranche secured loans | Market yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.164  
Level 3 | Unitranche secured loans | Market yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.164  
Level 3 | Unitranche secured loans | Market yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.164  
Level 3 | Unitranche secured loans | EBITDA Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input   0.088
Level 3 | Unitranche secured loans | EBITDA Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input   0.084
Level 3 | Unitranche secured loans | EBITDA Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input   0.160
Level 3 | Unitranche secured loans | Revenue Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.138 0.132
Level 3 | Unitranche secured loans | Revenue Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.138 0.132
Level 3 | Unitranche secured loans | Revenue Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.138 0.132
Level 3 | Unitranche secured loans | Revenue multiples | Discounted cash flow    
Fair Value Measurements    
Fair value $ 17,164 $ 17,228
Level 3 | Unitranche secured loans | Revenue multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 5.0 5.5
Level 3 | Unitranche secured loans | Revenue multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 5.0 5.5
Level 3 | Unitranche secured loans | Revenue multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 5.0 5.5
Level 3 | Junior secured loans | EBITDA multiples | Discounted cash flow    
Fair Value Measurements    
Fair value $ 252,087 $ 243,696
Level 3 | Junior secured loans | EBITDA multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 8.0 8.8
Level 3 | Junior secured loans | EBITDA multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 8.0 8.8
Level 3 | Junior secured loans | EBITDA multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 8.0 8.8
Level 3 | Junior secured loans | EBITDA multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 23,902 $ 9,451
Level 3 | Junior secured loans | EBITDA multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 7.2 7.2
Level 3 | Junior secured loans | EBITDA multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 4.3 4.3
Level 3 | Junior secured loans | EBITDA multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 11.9 12.0
Level 3 | Junior secured loans | Market yields | Discounted cash flow    
Fair Value Measurements    
Fair value  
Level 3 | Junior secured loans | Market yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input   0.140
Level 3 | Junior secured loans | Market yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input   0.125
Level 3 | Junior secured loans | Market yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input   0.173
Level 3 | Junior secured loans | EBITDA Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.140  
Level 3 | Junior secured loans | EBITDA Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.124  
Level 3 | Junior secured loans | EBITDA Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.169  
Level 3 | Junior secured loans | Revenue Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.089  
Level 3 | Junior secured loans | Revenue Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.089  
Level 3 | Junior secured loans | Revenue Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.089  
Level 3 | Junior secured loans | Revenue multiples | Discounted cash flow    
Fair Value Measurements    
Fair value $ 24,750  
Level 3 | Junior secured loans | Revenue multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 10.1  
Level 3 | Junior secured loans | Revenue multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 10.1  
Level 3 | Junior secured loans | Revenue multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 10.1  
Level 3 | Junior secured loans | Revenue multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 16,286 $ 17,118
Level 3 | Junior secured loans | Revenue multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 5.3 4.9
Level 3 | Junior secured loans | Revenue multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 1.0 1.0
Level 3 | Junior secured loans | Revenue multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 5.8 5.3
Level 3 | Equity investments | EBITDA multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 352,127 $ 327,486
Level 3 | Equity investments | EBITDA multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 10.7 10.7
Level 3 | Equity investments | EBITDA multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 5.8 6.8
Level 3 | Equity investments | EBITDA multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 17.0 17.3
Level 3 | Equity investments | Revenue multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 78,757 $ 80,634
Level 3 | Equity investments | Revenue multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 4.1 4.2
Level 3 | Equity investments | Revenue multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 0.5 0.5
Level 3 | Equity investments | Revenue multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 9.8 10.8
Level 3 | Equity investments | Volatility | Option pricing model    
Fair Value Measurements    
Fair value $ 4,992 $ 7,271
Level 3 | Equity investments | Volatility | Option pricing model | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.440 0.472
Level 3 | Equity investments | Volatility | Option pricing model | Minimum    
Fair Value Measurements    
Investments, measurement input 0.240 0.240
Level 3 | Equity investments | Volatility | Option pricing model | Maximum    
Fair Value Measurements    
Investments, measurement input 0.650 0.700
[1] All of the Company’s investments are issued by eligible portfolio companies, as defined in the Investment Company Act of 1940, as amended, (the “1940 Act”), unless otherwise noted. All of the Company’s investments are issued by U.S. portfolio companies unless otherwise noted.
[2] Except as otherwise noted, because there is no readily available market value for these investments, the fair value of each of these investments is determined in good faith using significant unobservable inputs by the Valuation Designee (see Note 4 in the accompanying notes to the consolidated financial statements).
[3] All of the Company’s investments are issued by eligible portfolio companies, as defined in the Investment Company Act of 1940, as amended, (the “1940 Act”), unless otherwise noted. All of the Company’s investments are issued by U.S. portfolio companies unless otherwise noted.
[4] Except as otherwise noted, because there is no readily available market value for these investments, the fair value of each of these investments is determined in good faith using significant unobservable inputs by the Valuation Designee (see Note 4 in the accompanying notes to the consolidated financial statements).