Income Taxes (Tables)

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Summary of Aggregate Unrealized Appreciation and Depreciation on Investments

The Company’s aggregate unrealized appreciation and depreciation on investments for federal income tax purposes was as follows (in thousands):


				As of June 30, 2026				As of December 31, 2025
Tax Cost(1)				$	1,663,901			$	1,636,409
Gross Unrealized Appreciation				$	35,791			$	45,347
Gross Unrealized Depreciation					(128,409	)			(118,198	)
Net Unrealized Investment Appreciation (Depreciation)				$	(92,618	)		$	(72,851	)

(1)

Tax cost includes cash equivalents.

Schedule of Income Taxes and Excise Taxes

The Company recognized the following income taxes related to Taxable Subsidiaries and excise taxes related to the Company’s status as a RIC:


		For the three months ended June 30,								For the six months ended June 30,
		2026				2025					2026				2025
Income tax (benefit) provision		$	25			$	-			$	25			$	6
Excise tax (benefit) provision			481				400				1,033				895
Provision (benefit) for income and excise taxes		$	506			$	400			$	1,058			$	901

Schedule of Benefits (Provisions) for Taxes on Realized and Unrealized Appreciation and Depreciation on Investments

The Company recognized the following benefits (provisions) for taxes on realized and unrealized appreciation and depreciation on investments:


		For the three months ended June 30,								For the six months ended June 30,
		2026				2025					2026						2025
Benefit (provision) for taxes on realized gain on investments		$	(200	)		$	—			$	(200	)	$	—		$	—
Benefit (provision) for taxes on unrealized appreciation (depreciation) on investments			-				—				-						—
Benefit (provision) for taxes on realized and unrealized appreciation (depreciation) on investments		$	(200	)		$	—			$	(200	)				$	—