Fair Value of Investments - Schedule of Changes in the Fair Value of Investments (Details) - USD ($)
$ in Thousands |
3 Months Ended |
6 Months Ended |
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
| Total |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
$ 4,578,924
|
$ 4,231,626
|
$ 5,295,125
|
$ 4,010,081
|
| Purchases of investments, net |
85,688
|
499,690
|
137,615
|
927,999
|
| Payment-in-kind |
13,932
|
13,989
|
23,977
|
22,408
|
| Proceeds from investments, net |
(190,652)
|
(138,699)
|
(832,173)
|
(398,494)
|
| Net accretion/amortization of discount/premium on investments |
2,622
|
3,728
|
5,949
|
9,493
|
| Transfers into (out of) Level 3 |
7,863
|
(110,748)
|
(34,047)
|
(73,423)
|
| Fair Value, End of Period |
4,493,155
|
4,511,770
|
4,493,155
|
4,511,770
|
| Total | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
13,236
|
1,567
|
14,105
|
1,831
|
| Total | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
(18,458)
|
10,617
|
(117,396)
|
11,875
|
| First-lien senior secured debt investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
4,142,341
|
3,830,095
|
4,802,901
|
3,601,677
|
| Purchases of investments, net |
84,466
|
428,468
|
129,530
|
848,024
|
| Payment-in-kind |
5,376
|
4,103
|
10,808
|
6,875
|
| Proceeds from investments, net |
(164,093)
|
(77,554)
|
(799,749)
|
(311,437)
|
| Net accretion/amortization of discount/premium on investments |
2,513
|
3,013
|
5,709
|
8,224
|
| Transfers into (out of) Level 3 |
(11,109)
|
(98,310)
|
(16,120)
|
(65,694)
|
| Fair Value, End of Period |
4,057,524
|
4,099,772
|
4,057,524
|
4,099,772
|
| First-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
2,423
|
1,536
|
3,263
|
1,543
|
| First-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
(4,393)
|
8,421
|
(78,818)
|
10,560
|
| Second-lien senior secured debt investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
117,845
|
135,061
|
161,254
|
122,347
|
| Purchases of investments, net |
0
|
56,928
|
33
|
56,928
|
| Payment-in-kind |
1,149
|
3,004
|
2,290
|
5,117
|
| Proceeds from investments, net |
0
|
(57,609)
|
0
|
(57,609)
|
| Net accretion/amortization of discount/premium on investments |
49
|
559
|
70
|
621
|
| Transfers into (out of) Level 3 |
18,972
|
(12,438)
|
(17,927)
|
0
|
| Fair Value, End of Period |
131,763
|
123,282
|
131,763
|
123,282
|
| Second-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
0
|
0
|
0
|
0
|
| Second-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
(6,252)
|
(2,223)
|
(13,957)
|
(4,122)
|
| Unsecured debt investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
62,454
|
60,284
|
66,531
|
59,333
|
| Purchases of investments, net |
0
|
0
|
0
|
0
|
| Payment-in-kind |
972
|
995
|
2,003
|
1,945
|
| Proceeds from investments, net |
0
|
0
|
(4,780)
|
0
|
| Net accretion/amortization of discount/premium on investments |
7
|
6
|
13
|
12
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
0
|
| Fair Value, End of Period |
63,452
|
61,279
|
63,452
|
61,279
|
| Unsecured debt investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
0
|
0
|
29
|
0
|
| Unsecured debt investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
19
|
(6)
|
(344)
|
(11)
|
| Preferred equity investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
171,367
|
148,221
|
173,230
|
171,478
|
| Purchases of investments, net |
0
|
13,390
|
4,000
|
13,390
|
| Payment-in-kind |
6,435
|
5,887
|
8,876
|
8,471
|
| Proceeds from investments, net |
(96)
|
(3,142)
|
(1,181)
|
(29,054)
|
| Net accretion/amortization of discount/premium on investments |
53
|
150
|
157
|
636
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
0
|
| Fair Value, End of Period |
164,403
|
166,761
|
164,403
|
166,761
|
| Preferred equity investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
96
|
31
|
96
|
288
|
| Preferred equity investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
(13,452)
|
2,224
|
(20,775)
|
1,552
|
| Common equity investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
82,255
|
54,917
|
88,586
|
52,144
|
| Purchases of investments, net |
1,222
|
904
|
4,052
|
9,657
|
| Payment-in-kind |
0
|
0
|
0
|
0
|
| Proceeds from investments, net |
(25,877)
|
0
|
(25,877)
|
0
|
| Net accretion/amortization of discount/premium on investments |
0
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
(7,729)
|
| Fair Value, End of Period |
73,949
|
58,231
|
73,949
|
58,231
|
| Common equity investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
10,717
|
0
|
10,717
|
0
|
| Common equity investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
5,632
|
2,410
|
(3,529)
|
4,159
|
| Specialty finance equity investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
2,662
|
3,048
|
2,623
|
3,102
|
| Purchases of investments, net |
0
|
0
|
0
|
0
|
| Payment-in-kind |
0
|
0
|
0
|
0
|
| Proceeds from investments, net |
(586)
|
(394)
|
(586)
|
(394)
|
| Net accretion/amortization of discount/premium on investments |
0
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
0
|
| Fair Value, End of Period |
2,064
|
2,445
|
2,064
|
2,445
|
| Specialty finance equity investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
0
|
0
|
0
|
0
|
| Specialty finance equity investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingBeforeTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gains (losses) |
$ (12)
|
$ (209)
|
$ 27
|
$ (263)
|