v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investments at fair value    
Total investments at fair value $ 25,007,853 $ 25,337,420
Cash 380,494 [1] 187,064 [2]
Cash equivalents 322,919 [1],[3] 403,602 [2],[4]
Dividend receivable from non-controlled/non-affiliated investments 66 62
Deferred financing costs 54,742 50,341
Deferred offering costs 2,088 2,175
Derivative assets, at fair value (Note 6) 35,680 50,869
Receivable for investments 297,883 83,891
Other assets 8,098 507
Total assets 26,289,900 26,304,427
LIABILITIES    
Debt (net of unamortized debt issuance costs of $95,093 and $90,359 at March 31, 2026 and December 31, 2025, respectively) 12,865,354 12,950,206
Payable for investments purchased 2,440 2,699
Interest payable 145,782 171,991
Derivative liabilities, at fair value (Note 6) 13,882 20,792
Due to affiliates 14,842 16,726
Distribution payable (Note 9) 107,321 106,729
Payable for share repurchases (Note 9) 610,738 472,929
Management fees payable (Note 3) 26,455 13,732
Income based incentive fees payable (Note 3) 46,029 47,328
Capital gains incentive fees payable (Note 3) 0 0
Shareholder servicing and/or distribution fees payable 3,332 3,327
Accrued expenses and other liabilities 18,751 61,137
Total liabilities 13,854,926 13,867,596
Commitments and contingencies (Note 8)
NET ASSETS    
Common Shares, $0.01 par value (501,538,142 and 493,104,572 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively) 5,015 4,931
Additional paid in capital 12,581,669 12,360,689
Distributable earnings (loss) (151,710) 71,211
Total net assets 12,434,974 12,436,831
Total liabilities and net assets 26,289,900 26,304,427
Non-controlled/non-affiliated    
Investments at fair value    
Total investments at fair value 24,439,690 24,821,751
Interest receivable from non-controlled/non-affiliated investments 178,940 187,936
Noncontrolled/affiliated    
Investments at fair value    
Total investments at fair value 141,949 99,425
Interest receivable from non-controlled/non-affiliated investments 1,137 560
Controlled/affiliated    
Investments at fair value    
Total investments at fair value $ 426,214 $ 416,244
[1] The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with U.S. GAAP.
[2] The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
[3] The investment is not a qualifying asset, in whole or in part, under Section 55(a) of the 1940 Act. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of March 31, 2026, non-qualifying assets represented 22.4% of total assets as calculated in accordance with regulatory requirements.
[4] The investment is not a qualifying asset, in whole or in part, under Section 55(a) of the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”). The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2025, non-qualifying assets represented 23.6% of total assets as calculated in accordance with regulatory requirements.