Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues | ||||
| Interest income | $ 65,846 | $ 30,646 | $ 121,095 | $ 50,138 |
| Total revenues | 65,846 | 30,646 | 121,095 | 50,138 |
| Expenses | ||||
| Organizational costs | 0 | 159 | 0 | 274 |
| General and administrative | 5,477 | 3,265 | 10,361 | 5,221 |
| Management fee | 4,541 | 2,735 | 9,088 | 3,008 |
| Performance participation allocation | 761 | 114 | 1,322 | 121 |
| Total expenses | 10,779 | 6,273 | 20,771 | 8,624 |
| Other income (expense) | ||||
| Interest expense | (30,743) | (9,455) | (56,243) | (15,984) |
| Net unrealized gain (loss) on investments | (1,015) | (262) | 491 | (975) |
| Net realized loss on investments | (585) | (317) | (1,405) | (841) |
| Other income | 2,521 | 4,621 | 6,010 | 6,422 |
| Total other income (expense) | (29,822) | (5,413) | (51,147) | (11,378) |
| Net income | 25,245 | 18,960 | 49,177 | 30,136 |
| Net income attributable to non-controlling interests | 898 | 576 | 1,347 | 1,396 |
| Net income attributable to common shareholders | $ 24,347 | $ 18,384 | $ 47,830 | $ 28,740 |
| Earnings per common share, Basic (in dollars per share) | $ 0.36 | $ 0.38 | $ 0.72 | $ 0.78 |
| Earnings per common share, Diluted (in dollars per share) | $ 0.36 | $ 0.38 | $ 0.72 | $ 0.78 |
| Weighted-average common shares outstanding, Basic (in shares) | 68,326 | 48,049 | 66,588 | 36,628 |
| Weighted-average common shares outstanding, Diluted (in shares) | 68,326 | 48,049 | 66,588 | 36,628 |
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- Definition Performance participation allocation. No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of expense for formation and organizational costs incurred to establish entity to do business. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of realized gain (loss) on investment. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of unrealized gain (loss) on investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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