v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Operating activities          
Net increase (decrease) in net assets resulting from operations attributable to common stockholders and participating securities $ 26,528 $ 26,158 $ 44,999 $ 51,017  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Payment-in-kind interest income     (6,883) (10,264)  
Net accretion of discount on investments     (4,438) (5,860)  
Amortization of deferred financing costs 1,098 652 2,037 1,251  
Accretion of discount on unsecured notes     662 318  
Amortization of premium on unsecured notes     (140) (140)  
Sales and repayments of investments     341,995 520,726  
Purchases of investments     (364,103) (653,093)  
Net realized (gain) loss from investments     34,016 8,046  
Net realized (gain) loss on derivatives 21 (17) 40 (6)  
Net change in carrying value of unsecured notes attributed to hedging     (5,092) 0  
Net change in unrealized (appreciation) depreciation on investments 2,633 135 (9,005) 21,367  
Net change in unrealized (appreciation) depreciation on derivatives (148) 111 (291) 349  
(Increase) decrease in operating assets:          
Interest and dividend receivable     8,167 5,590  
Receivable for unsettled trades     1,822 (26,163)  
Prepaid expenses and other assets     285 374  
Due from broker     0 7,690  
Increase (decrease) in operating liabilities:          
Management fees payable     (563) 91  
Incentive fees on income payable     (1,449) (197)  
Accounts payable and accrued expenses     (1,184) 2,201  
Payable for unsettled trades     0 (23,995)  
Interest and debt fees payable     (17,362) 4,980  
Other liabilities     4,855 (658)  
Net cash provided by (used in) operating activities     28,368 (96,376)  
Financing activities          
Repayments of secured borrowings     0 (29,052)  
Repurchase of common stock     (33,950) (34,903)  
Proceeds from debt     553,111 559,301  
Payments on debt     (592,851) (329,300)  
Payments of financing costs     (3,395) (5,278)  
Common stockholder distributions     (25,661) (70,362)  
Preferred stockholder distributions     (1,226) (3,373)  
Net cash provided by (used in) financing activities     (103,972) 87,033  
Net increase (decrease) in cash, cash equivalents and restricted cash     (75,604) (9,343)  
Cash, cash equivalents and restricted cash, beginning of period     120,683 130,760 $ 130,760
Cash, cash equivalents and restricted cash, end of period 45,079 121,417 45,079 121,417 120,683
Supplemental and non-cash activities:          
Non-cash repayments of secured borrowings     0 1,706  
Interest and non-usage fees paid during the period     85,333 61,699  
Net taxes paid, including excise tax, during the period     2,369 1,309  
Distributions reinvested during the period     6,856 19,283 35,668
Cash and cash equivalents 35,384 105,259 35,384 105,259 100,581
Restricted cash 9,695 16,158 9,695 16,158 20,102
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 45,079 $ 121,417 $ 45,079 $ 121,417 $ 120,683