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 |
| First-lien senior secured debt investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
$ 577,401
|
$ 1,481,331
|
$ 1,218,616
|
$ 1,495,835
|
| Purchases of investments, net |
9,791
|
69,316
|
18,068
|
87,924
|
| Payment-in-kind |
1,479
|
1,603
|
3,106
|
4,842
|
| Proceeds from investments, net |
(95,001)
|
(241,346)
|
(742,262)
|
(271,008)
|
| Net accretion/amortization of discount/premium on investments |
379
|
3,195
|
1,495
|
4,421
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
237
|
0
|
2,750
|
(5,659)
|
| Fair Value, End of Period |
490,304
|
1,303,172
|
490,304
|
1,303,172
|
| First-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(64)
|
1
|
(3,934)
|
(63)
|
| First-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(3,918)
|
(10,928)
|
(7,535)
|
(13,120)
|
| Second-lien senior secured debt investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
86,941
|
160,441
|
119,703
|
139,322
|
| Purchases of investments, net |
0
|
6,567
|
0
|
0
|
| Payment-in-kind |
249
|
1,623
|
496
|
2,822
|
| Proceeds from investments, net |
(23,145)
|
(32,702)
|
(47,424)
|
(27,098)
|
| Net accretion/amortization of discount/premium on investments |
41
|
467
|
169
|
588
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
10,363
|
0
|
10,363
|
21,929
|
| Fair Value, End of Period |
57,555
|
132,864
|
57,555
|
132,864
|
| Second-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(7,893)
|
0
|
(7,676)
|
(20,066)
|
| Second-lien senior secured debt investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(9,001)
|
(3,532)
|
(18,076)
|
15,367
|
| Unsecured debt investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
20,162
|
35,134
|
38,673
|
33,594
|
| Purchases of investments, net |
0
|
0
|
0
|
0
|
| Payment-in-kind |
484
|
854
|
1,436
|
2,206
|
| Proceeds from investments, net |
(18)
|
(468)
|
(19,465)
|
(696)
|
| Net accretion/amortization of discount/premium on investments |
2
|
12
|
12
|
21
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
0
|
| Fair Value, End of Period |
20,644
|
36,411
|
20,644
|
36,411
|
| Unsecured debt investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
2
|
14
|
690
|
(56)
|
| Unsecured debt investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
12
|
865
|
(702)
|
1,342
|
| Specialty Finance |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
7,604
|
5,792
|
7,491
|
5,040
|
| Purchases of investments, net |
566
|
468
|
566
|
1,219
|
| Payment-in-kind |
15
|
51
|
138
|
51
|
| Proceeds from investments, net |
(29)
|
0
|
(39)
|
0
|
| Net accretion/amortization of discount/premium on investments |
0
|
0
|
0
|
0
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
0
|
| Fair Value, End of Period |
8,156
|
6,294
|
8,156
|
6,294
|
| Specialty Finance | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
0
|
0
|
0
|
0
|
| Specialty Finance | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
0
|
(17)
|
0
|
(16)
|
| Preferred |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
63,382
|
61,264
|
67,143
|
59,385
|
| Purchases of investments, net |
0
|
165
|
0
|
1,133
|
| Payment-in-kind |
801
|
1,550
|
1,952
|
2,586
|
| Proceeds from investments, net |
(45,424)
|
0
|
(51,568)
|
(208)
|
| Net accretion/amortization of discount/premium on investments |
530
|
39
|
570
|
81
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
0
|
| Fair Value, End of Period |
14,936
|
63,693
|
14,936
|
63,693
|
| Preferred | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(9)
|
0
|
1,090
|
2
|
| Preferred | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(4,344)
|
675
|
(4,251)
|
714
|
| Common |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
76,354
|
102,015
|
77,020
|
101,868
|
| Purchases of investments, net |
161
|
589
|
289
|
589
|
| Payment-in-kind |
45
|
41
|
88
|
81
|
| Proceeds from investments, net |
(812)
|
(10,432)
|
(835)
|
(10,433)
|
| Net accretion/amortization of discount/premium on investments |
0
|
0
|
0
|
0
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
44
|
0
|
| Fair Value, End of Period |
76,791
|
91,791
|
76,791
|
91,791
|
| Common | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(1,355)
|
4,057
|
(6,106)
|
2,432
|
| Common | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
2,398
|
(4,479)
|
6,291
|
(2,746)
|
| Specialty Finance |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
6,586
|
9,210
|
13,303
|
8,219
|
| Purchases of investments, net |
0
|
560
|
130
|
851
|
| Payment-in-kind |
0
|
0
|
0
|
0
|
| Proceeds from investments, net |
(44)
|
(97)
|
(6,503)
|
(170)
|
| Net accretion/amortization of discount/premium on investments |
0
|
0
|
0
|
0
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
0
|
0
|
0
|
0
|
| Fair Value, End of Period |
6,743
|
10,493
|
6,743
|
10,493
|
| Specialty Finance | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
0
|
0
|
483
|
0
|
| Specialty Finance | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
201
|
820
|
(670)
|
1,593
|
| Investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
838,430
|
1,855,187
|
1,541,949
|
1,843,263
|
| Purchases of investments, net |
10,518
|
77,665
|
19,053
|
91,716
|
| Payment-in-kind |
3,073
|
5,722
|
7,216
|
12,588
|
| Proceeds from investments, net |
(164,473)
|
(285,045)
|
(868,096)
|
(309,613)
|
| Net accretion/amortization of discount/premium on investments |
952
|
3,713
|
2,246
|
5,111
|
| Transfers between investment types |
|
0
|
0
|
0
|
| Transfers into (out of) Level 3 |
10,600
|
0
|
13,157
|
16,270
|
| Fair Value, End of Period |
675,129
|
1,644,718
|
675,129
|
1,644,718
|
| Investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
(9,319)
|
4,072
|
(15,453)
|
(17,751)
|
| Investments | Income Statement Location [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Net change in unrealized gain (loss) / realized gain (loss) on investments |
$ (14,652)
|
$ (16,596)
|
$ (24,943)
|
$ 3,134
|