v3.26.1
Borrowings (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Outstanding Borrowings
The following table presents the Company’s outstanding borrowings as of June 30, 2026 (amounts in thousands):
Aggregated
Principal
Committed		Outstanding
Principal
Unused
Portion (1)
Carrying Value (2)
Maturity Date
Credit Facility$575,000 $480,200 $94,800 $480,200 11/8/2029
Subscription Line51,746 51,065 681 51,065 11/6/2026
Total$626,746 $531,265 $95,481 $531,265 
(1)The unused portion is the amount upon which commitment fees are based, if any.
(2)The carrying value is gross of any deferred financing costs.
The following table presents the Company's outstanding borrowings as of December 31, 2025 (amounts in thousands):
Aggregated
Principal
Committed		Outstanding
Principal
Unused
Portion (1)
Carrying Value (2)
Maturity Date
Credit Facility$575,000 $495,100 $79,900 $495,100 11/8/2029
Subscription Line70,996 36,090 34,906 36,090 11/6/2026
Total$645,996 $531,190 $114,806 $531,190 
(1)The unused portion is the amount upon which commitment fees are based, if any.
(2)The carrying value is gross of any deferred financing costs.
Schedule of Components of Interest Expense Related to Credit Facilities
For the three and six months ended June 30, 2026 and 2025, the components of interest expense related to the A&R Credit Facility were as follows (amounts in thousands):
For the three months ended June 30,For the six months ended June 30,
2026202520262025
Borrowing interest expense$6,711 $5,402 $13,613 $9,871 
Unused facility fee130 214 239 369 
Amortization of deferred financing costs429 366 854 668 
Total interest and debt financing expense$7,270 $5,982 $14,706 $10,908 
Average borrowings472,514 328,810 479,909 296,634 
Weighted average interest rate 5.70 %6.59 %5.72 %6.71 %
For the three and six months ended June 30, 2026 and 2025, the components of interest expense related to the City National Bank Subscription Facility were as follows (amounts in thousands):
For the three months ended June 30,For the six months ended June 30,
2026202520262025
Borrowing interest expense$512 $1,010 $981 $2,101 
Unused facility fee18 28 52 52 
Amortization of deferred financing costs67 201 134 399 
Total interest and debt financing expense$597 $1,239 $1,167 $2,552 
Average borrowings32,913 57,215 31,603 63,145 
Weighted average interest rate6.24 %7.08 %6.26 %6.71 %
The components of interest expense related to Macquarie for the three and six months ended June 30, 2026 and 2025 were as follows (amounts in thousands):
For the three months ended June 30,For the six months ended June 30,
2026202520262025
Borrowing interest expense$— $— $— $98 
Unused facility fee— — — — 
Amortization of deferred financing costs— — — — 
Total interest and debt financing expense$— $— $— $98 
Average borrowings— — — — 
Weighted average interest rate— %— %— %— %