v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net increase in net assets from operations $ 61,918 $ 96,422
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:    
Class F Shares issued as payment of Management fees 5,795 0
Class F Shares issued as payment of directors' fees and expenses 63 63
Class F Shares issued as payment of performance participation allocation 107 12
Deferred financing costs amortization 2,764 1,306
Acquisition of Infrastructure Assets (636,146) (320,939)
Proceeds from return of capital on Infrastructure Assets 6,261 0
Net change in unrealized (appreciation) depreciation on investments (80,105) (65,982)
Net change in unrealized (appreciation) depreciation on foreign currency 52 (24)
Net change in unrealized (appreciation) depreciation on foreign currency translation 87,901 (101,852)
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts (64,763) 77,171
Changes in operating assets and liabilities:    
(Increase) Decrease in prepaids and other assets 289 3,553
(Increase) Decrease in receivable for settlement of foreign currency forward contracts 0 1,786
(Increase) Decrease in due from Manager and affiliates 149 0
(Increase) Decrease in dividends receivable (915) (255)
Increase (Decrease) in management fee payable 2,921 0
Increase (Decrease) in accrued performance participation allocation 10,959 15,346
Increase (Decrease) in other accrued expenses and liabilities (800) 955
Increase (Decrease) in deferred tax liabilities 2,651 3,021
Increase (Decrease) in due to Manager and affiliates 2,867 (2,224)
Net cash used in operating activities (598,032) (291,641)
Financing activities    
Proceeds from issuance of shares 739,805 664,385
Repayment of line of credit 0 (229,128)
Payment of deferred financing costs (604) (3,025)
Repurchases of shares (30,183) (4,125)
Payment of shareholder servicing fees and distribution fees (7,419) (3,464)
Distributions (17,047) (7,776)
Net cash provided by financing activities 684,552 416,867
Effect of exchange rate changes on cash and cash equivalents and foreign currencies at fair value (52) 10
Net increase in cash and cash equivalents and foreign currencies at fair value 86,468 125,236
Cash and cash equivalents and foreign currencies at fair value, beginning of period 980,350 342,547
Cash and cash equivalents and foreign currencies at fair value, end of period 1,066,818 467,783
Supplemental disclosure of cash flow information    
Change in shareholder servicing fees and distribution fees payable 24,415 30,858
Reinvestment of distributions 44,638 22,426
Cash paid for interest 1,388 500
Change in deferred financing costs payable 137 96
Change in subscriptions receivable $ 0 $ (176)