v3.26.1
Unaudited Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment income        
Paid-in-kind interest income     $ 1,931 $ 1,255
Total investment income $ 36,665 $ 19,487 71,603 34,369
Operating expenses        
Management fees 3,141 1,776 6,237 3,087
Subordinated income incentive fees 2,775 1,858 5,468 3,423
Capital gains incentive fees 0 170 (1,576) 489
Interest expense 9,409 3,623 18,141 5,987
Administrative services expense 821 325 1,436 681
Distribution/servicing fees 1,999 1,132 3,983 1,922
Share transfer agent fees 163 109 309 135
Accounting and administrative fees 170 93 357 151
Audit expense 172 137 342 273
Other general and administrative expenses 587 336 1,035 655
Total operating expenses 19,237 9,559 35,732 16,803
Management and incentive fee waivers 0 (3,634) 0 (6,510)
Expense waiver 0 0 0 (895)
Net expenses 19,237 5,925 35,732 9,398
Net investment income 17,428 13,562 35,871 24,971
Realized and unrealized gain/loss        
Net realized gain (loss) on investments:     (4,418) (180)
Net realized gain (loss) on foreign currency forward contracts (6) (47) (6) (51)
Net realized gain (loss) on foreign currency (17) 27 (47) (39)
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts 51 (310) (166) (450)
Net change in unrealized gain (loss) on foreign currency 226 (1,526) 2,111 (1,969)
Total net realized and unrealized gain (loss) (5,722) 1,358 (24,053) 3,910
Net increase (decrease) in net assets resulting from operations $ 11,706 $ 14,920 $ 11,818 $ 28,881
Per share information—basic and diluted        
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - basic (in dollars per share) $ 0.29 $ 0.64 $ 0.30 $ 1.42
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - diluted (in dollars per share) $ 0.29 $ 0.64 $ 0.30 $ 1.42
Weighted average shares outstanding - basic (in shares) 40,177,835 23,347,466 39,875,799 20,299,028
Weighted average shares outstanding - diluted (in shares) 40,177,835 23,347,466 39,875,799 20,299,028
Non-controlled/unaffiliated investments        
Investment income        
Interest income $ 31,684 $ 17,939 $ 62,499 $ 30,104
Paid-in-kind interest income 1,166 571 1,914 1,255
Fee income 984 853 1,798 2,520
Dividend and other income 1,491 28 3,511 206
Realized and unrealized gain/loss        
Net realized gain (loss) on investments: (4,451) (170) (4,418) (180)
Net change in unrealized appreciation (depreciation) on investments: (1,399) 3,406 (21,520) 6,615
Non-controlled/Affiliated Investments        
Investment income        
Interest income 210 0 318 0
Paid-in-kind interest income [1]     0  
Fee income 27 0 143 [1] 0
Dividend and other income [1]     0  
Realized and unrealized gain/loss        
Net realized gain (loss) on investments:     0  
Net change in unrealized appreciation (depreciation) on investments: 10 0 26 0
Controlled/Affiliated Investments        
Investment income        
Interest income 419 96 666 202
Paid-in-kind interest income 17 0 17 [2] 0
Fee income 1 0 1 [2] 0
Dividend and other income 666 0 736 [2] 82
Realized and unrealized gain/loss        
Net realized gain (loss) on investments:     0  
Net change in unrealized appreciation (depreciation) on investments: $ (136) $ (22) $ (33) $ (16)
[1] Interest, PIK, Fee and Dividend and Other income presented for the full six months ended June 30, 2026.
[2] Interest, PIK, Fee and Dividend and Other income presented for the full six months ended June 30, 2026.