v3.26.1
FAIR VALUE MEASUREMENTS - Schedule of Level 3 Input Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
 [3],[4],[5]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Fair Value $ 1,863,644 [1],[2]   $ 1,863,644 [1],[2]   $ 1,468,228
First-lien debt          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Balance, beginning of period 1,130,368 $ 324,866 931,151 $ 265,090  
Purchases 259,374 120,101 501,320 178,555  
Paydowns (28,121) (223) (107,146) (430)  
Accretion of discount 1,053 359 1,571 619  
PIK interest 0 241 2,777 292  
Net change in unrealized appreciation 1,365 1,825 (982) 3,043  
Transfers into Level 3 104,019   194,515    
Transfers out of Level 3 0   (55,148)    
Balance, end of period 1,468,058 447,169 1,468,058 447,169  
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) 1,154 1,825 (782) 3,043  
Preferred Equity and Other Equity          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Balance, beginning of period 11,990 9,367 9,329 5,987  
Purchases 37,886 0 40,742 2,938  
Paydowns 0 0 0 0  
Accretion of discount 0 0 0 0  
PIK interest 0 0 0 0  
Net change in unrealized appreciation 923 331 728 773  
Transfers into Level 3 0   0    
Transfers out of Level 3 0   0    
Balance, end of period 50,799 9,698 50,799 9,698  
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) 923 331 728 773  
Total          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Balance, beginning of period 1,142,358 334,233 940,480 271,077  
Purchases 297,260 120,101 542,062 181,493  
Paydowns (28,121) (223) (107,146) (430)  
Accretion of discount 1,053 359 1,571 619  
PIK interest 0 241 2,777 292  
Net change in unrealized appreciation 2,288 2,156 (254) 3,816  
Transfers into Level 3 104,019   194,515    
Transfers out of Level 3 (0)   (55,148)    
Balance, end of period 1,518,857 456,867 1,518,857 456,867  
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) $ 2,077 $ 2,156 $ (54) $ 3,816  
[1] The Company uses an internally developed industry classification system which was developed using the Global Industry Classification Standard (“GICS”®) as a reference. All investments are ultimately focused in enterprise software, data and technology-enabled business sectors.
[2] Unless otherwise indicated, all investments held by the Company (the “Company” includes the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in U.S. dollars and headquartered in the United States. All investments are income producing unless otherwise indicated. Certain portfolio company investments are subject to contractual restrictions on sales. The total par amount (in thousands) is presented for all debt investment and preferred equity. Unit amount is presented for Other Equity, with the exception of HPC GPFS Arsenal Co-Invest (Cayman) LP, HPC Preferred Opportunities, L.P. and Tactical Equipment III, L.P., which presents investment cost.
[3] The Company uses an internally developed industry classification system which was developed using the Global Industry Classification Standard (“GICS”®) as a reference. All investments are ultimately focused in enterprise software, data and technology-enabled business sectors.
[4] The following table shows the portfolio composition by geographic region at amortized cost and fair value as a percentage of total investments in portfolio companies. The geographic composition is determined by the location of the corporate headquarters of the portfolio company, which is not always indicative of the primary source of the portfolio company’s business:
[5] Unless otherwise indicated, all investments held by the Company (the “Company” includes the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in U.S. dollars and headquartered in the United States. All investments are income producing unless otherwise indicated. Certain portfolio company investments are subject to contractual restrictions on sales. The total par amount (in thousands) is presented for all debt investment and preferred equity. Unit amount is presented for Other Equity, with the exception of HPC GPFS Arsenal Co-Invest (Cayman) LP and Tactical Equipment III, L.P., which presents investment cost.