v3.26.1
AGREEMENTS AND RELATED PARTY TRANSACTIONS (Details)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 24, 2026
USD ($)
May 29, 2026
USD ($)
company
Jun. 30, 2025
USD ($)
May 08, 2025
USD ($)
Feb. 25, 2022
USD ($)
Jan. 01, 2021
qtr
Dec. 23, 2020
USD ($)
Aug. 02, 2018
Jun. 30, 2026
USD ($)
component
company
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
component
company
Jun. 30, 2025
USD ($)
Dec. 31, 2018
Dec. 31, 2025
USD ($)
company
Related Party Transaction [Line Items]                            
Look-back period provision | qtr           12                
Base management fee                 $ 7,928,000 $ 8,193,000 $ 16,222,000 $ 16,211,000    
Base management fees payable                 7,928,000   7,928,000     $ 8,562,000
Incentive management fees                 4,959,000 11,117,000 9,682,000 18,855,000    
Incentive management fees payable                 4,959,000   4,959,000     7,019,000
Administrative fees expenses                 300,000 400,000 700,000 700,000    
Administrative fees payable                 333,000   333,000     381,000
Proceeds from termination of CSAs                     67,028,000 23,000,000    
Gain on credit support agreement                 22,628,000 9,400,000 22,628,000 9,400,000    
Fair value                 $ 2,458,590,000   $ 2,458,590,000     $ 2,398,524,000
Number of portfolio companies | company                 11   11     7
Barings LLC | MVC Credit Support Agreement                            
Related Party Transaction [Line Items]                            
Expected proceeds from termination       $ 23,000,000.0                    
Proceeds from termination of CSAs     $ 23,000,000.0                      
Gain on credit support agreement                   9,400,000   9,400,000    
Barings LLC | Prior Sierra Credit Support Agreement                            
Related Party Transaction [Line Items]                            
Value [1],[2],[3]   $ 500,000                       $ 60,500,000
Original Advisory Agreement | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Base management fee, percent               1.375%            
Incentive fee, percent         2.00%                  
Amended and Restated Advisory Agreement | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Base management fee, percent           1.25%                
New Barings BDC Advisory Agreement | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent         2.0625%                  
Original Advisory Agreement - Annualized Incentive Fee Rate | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Base management fee, percent         8.00%                  
New Barings BDC Advisory Agreement - Annualized Incentive Fee Rate | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Base management fee, percent         8.25%                  
Investment Advisory Agreement | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Base management fee, percent                     1.25%      
Investment Management Agreement | Related Party                            
Related Party Transaction [Line Items]                            
Number of components | component                 2   2      
Investment Management Agreement - Incentive Rate, Quarterly Hurdle Rate | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           2.0625%                
Investment Management Agreement - Incentive Rate, Annualized Hurdle Rate | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           8.25%                
Investment Management Agreement - Incentive Rate, Pre-Incentive Fee Net Investment Income Below Catch-Up Threshold | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           100.00%                
Investment Management Agreement - Incentive Rate, Quarterly Catch-Up Threshold | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           2.57812%                
Investment Management Agreement - Incentive Rate, Annual Catch-Up Threshold | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           10.3125%                
Investment Management Agreement - Incentive Rate, Pre-Incentive Fee Net Investment Income Exceeds Catch-Up Threshold | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           20.00%                
Pre-Incentive Fee Net Investment Income For Trailing Twelve Quarters Exceeds Catch-Up Amount | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           20.00%                
Investment Management Agreement - Incentive Rate, Cumulative Pre-Incentive Fee Net Return | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent           20.00%                
Investment Management Agreement - Incentive Rate, Realized Capital Gains | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Incentive fee, percent                         20.00%  
Investment Management Agreement - Incentive Rate, Pre-Incentive Fee Net Investment Income                            
Related Party Transaction [Line Items]                            
Incentive management fees                 $ 5,000,000.0 11,100,000 $ 9,700,000 18,900,000    
Investment Management Agreement - Incentive Rate, Capital Gain Fee                            
Related Party Transaction [Line Items]                            
Incentive management fees                 0 $ 0 0 $ 0    
MVC Credit Support Agreement | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Related party transaction amount (up to)             $ 23,000,000.0              
Related party transaction, term             10 years              
MVC Credit Support Agreement - Covered Credit Losses Minimum | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Related party transaction amount (up to)             $ 0.00              
Prior Sierra Credit Support Agreement | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Related party transaction amount (up to)         $ 100,000,000.0                  
Termination and cancellation agreement, payment $ 67,000,000.0                          
Related party transaction, term         10 years                  
Gain on credit support agreement                 $ 22,600,000   $ 22,600,000      
Sierra Credit Support Agreement Covered Credit Losses Minimum | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Related party transaction amount (up to)   0.00                        
New Sierra Credit Support Agreement | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Related party transaction amount (up to)   $ 11,000,000.0                        
Number of portfolio companies covered under credit support agreement | company   2                        
Prior Sierra Credit Support Agreement Covered Credit Losses Minimum | Affiliated Entity                            
Related Party Transaction [Line Items]                            
Related party transaction amount (up to)         $ 0.00                  
[1] Settlement Date means the earlier of (1) April 1, 2032 or (2) the date on which the entire Prior Sierra Reference Portfolio has been realized or written off.
[2] The Company and Barings entered into the Prior Sierra Credit Support Agreement pursuant to which Barings agreed to provide credit support to the Company in the amount of up to $100.0 million.
[3] The Prior Sierra Credit Support Agreement (as defined in “Note 2. Agreements and Related Party Transactions”) covers all of the investments acquired by the Company from Sierra in connection with the Sierra Merger and any investments received by the Company in connection with the restructuring, amendment, extension or other modification (including the issuance of new securities) of any of the investments acquired by the Company from Sierra in connection with the Sierra Merger (collectively, the “Prior Sierra Reference Portfolio”). Each investment that is included in the Prior Sierra Reference Portfolio is denoted in the above Schedule of Investments with footnote (28).