v3.26.1
Debt Obligations - Schedule of Collateralized Loan Obligations (Details)
$ in Thousands
1 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2026
USD ($)
Jun. 30, 2026
USD ($)
loan
Dec. 31, 2025
USD ($)
loan
May 31, 2026
USD ($)
Debt Obligations        
Debt, Carrying Value   $ 2,972,246 $ 3,468,258  
Debt, Wtd. Avg. Rate   5.94%    
Total securitized debt        
Debt Obligations        
Debt, face value   $ 2,992,050 3,485,786  
Debt, Carrying Value   $ 2,972,246 $ 3,468,258  
Debt, Wtd. Avg. Rate   5.74% 5.81%  
Collateral, Loans, UPB   $ 3,649,919 $ 4,565,353  
Collateral, Loans, Carrying Value   3,641,332 4,557,631  
Collateral, Cash, Restricted Cash   $ 26,445 $ 21,469  
Weighted average note rate including certain fees and costs, percentage   6.01% 6.07%  
Collateralized loan obligations        
Debt Obligations        
Debt, face value     $ 3,485,786  
Debt, Carrying Value     $ 3,468,258  
Debt, Wtd. Avg. Rate     5.81%  
Collateral, Loans, UPB     $ 4,514,753  
Collateral, Loans, Carrying Value     4,507,031  
Collateral, Cash, Restricted Cash     21,469  
Deferred financing fees   $ 19,800 $ 17,500  
Number of loans under the loan portfolio | loan   20 39  
Collateral at risk   $ 808,300 $ 1,690,000  
Proceeds from issuance of collateralized loan obligations for acquiring additional loan obligations   76,600 10,100  
CLO 21        
Debt Obligations        
Debt, face value $ 674,000 673,990    
Debt, Carrying Value   $ 668,339    
Debt, Wtd. Avg. Rate   5.46%    
Collateral, Loans, UPB   $ 756,567    
Collateral, Loans, Carrying Value   753,112    
Collateral, Cash, Restricted Cash   0    
Weighted average note rate including certain fees and costs, percentage 1.73%      
Proceeds from issuance of collateralized loan obligations for acquiring additional loan obligations $ 100,000      
CLO 20        
Debt Obligations        
Debt, face value   933,187 933,187  
Debt, Carrying Value   $ 925,853 $ 924,504  
Debt, Wtd. Avg. Rate   5.47% 5.50%  
Collateral, Loans, UPB   $ 1,020,331 $ 1,045,664  
Collateral, Loans, Carrying Value   1,016,667 1,040,984  
Collateral, Cash, Restricted Cash   25,834 0  
BTR CLO 1        
Debt Obligations        
Debt, face value   595,933 525,304  
Debt, Carrying Value   $ 589,114 $ 517,395  
Debt, Wtd. Avg. Rate   6.18% 6.29%  
Collateral, Loans, UPB   $ 690,402 $ 685,746  
Collateral, Loans, Carrying Value   689,083 683,807  
Collateral, Cash, Restricted Cash   611 0  
CLO 18        
Debt Obligations        
Debt, face value   788,940 971,595  
Debt, Carrying Value   $ 788,940 $ 970,979  
Debt, Wtd. Avg. Rate   5.96% 6.01%  
Collateral, Loans, UPB   $ 1,182,619 $ 1,339,523  
Collateral, Loans, Carrying Value   1,182,470 1,338,395  
Collateral, Cash, Restricted Cash   $ 0 21,469  
CLO 17        
Debt Obligations        
Debt, face value     1,055,700 $ 787,000
Debt, Carrying Value     $ 1,055,380  
Debt, Wtd. Avg. Rate     5.66%  
Collateral, Loans, UPB     $ 1,443,820  
Collateral, Loans, Carrying Value     1,443,845  
Collateral, Cash, Restricted Cash     0  
Q Series securitization        
Debt Obligations        
Debt, face value     0  
Debt, Carrying Value     $ 0  
Debt, Wtd. Avg. Rate     0.00%  
Collateral, Loans, UPB     $ 50,600  
Collateral, Loans, Carrying Value     50,600  
Collateral, Cash, Restricted Cash     $ 0