v3.26.1
Investments - Investments at Fair Value and Amortized Cost (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Schedule of Investments [Line Items]    
Amortized Cost $ 36,024,256 [1],[2],[3],[4] $ 35,983,158 [5],[6],[7],[8]
Investments at fair value 35,500,450 [1],[4] 35,918,948 [5],[8]
First-lien senior secured    
Schedule of Investments [Line Items]    
Amortized Cost 31,431,207 31,727,075
Investments at fair value 30,985,887 31,597,264
Second-lien senior secured debt investments    
Schedule of Investments [Line Items]    
Amortized Cost 1,482,929 1,554,896
Investments at fair value 1,342,673 1,500,498
Unsecured debt investments    
Schedule of Investments [Line Items]    
Amortized Cost 433,479 463,745
Investments at fair value 439,084 479,850
Specialty finance debt investments    
Schedule of Investments [Line Items]    
Amortized Cost 136,796 134,800
Investments at fair value 136,796 134,800
Preferred equity investments    
Schedule of Investments [Line Items]    
Amortized Cost 517,490 508,942
Investments at fair value 506,595 496,312
Common equity investments    
Schedule of Investments [Line Items]    
Amortized Cost 399,883 370,541
Investments at fair value 457,746 435,238
Specialty finance equity investments    
Schedule of Investments [Line Items]    
Amortized Cost 1,209,838 814,147
Investments at fair value 1,293,753 900,635
Joint ventures    
Schedule of Investments [Line Items]    
Amortized Cost 412,634 409,012
Investments at fair value $ 337,916 $ 374,351
[1] Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 30 for additional information on our restricted securities.
[2] The amortized cost represents the original cost adjusted for the amortization and accretion of premiums and discounts, as applicable, on debt investments using the effective interest method.
[3] As of March 31, 2026, the net estimated unrealized loss on investments for U.S. federal income tax purposes was $441.4 million based on a tax cost basis of $35.94 billion. As of March 31, 2026, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $727.3 million. As of March 31, 2026, the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $285.9 million.
[4] Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facilities and CLOs. See “Note 5 — Debt”.
[5] Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 30 for additional information on our restricted securities.
[6] The amortized cost represents the original cost adjusted for the amortization and accretion of premiums and discounts, as applicable, on debt investments using the effective interest method.
[7] As of December 31, 2025, the net estimated unrealized loss on investments for U.S. federal income tax purposes was $9.4 million based on a tax cost basis of $35.9 billion. As of December 31, 2025, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $358.1 million As of December 31, 2025, the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $348.7 million.
[8] Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facilities and CLOs. See “Note 5 — Debt”.