Credit Facility |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Credit Facility | Credit Facility Revolving Credit Agreement On December 23, 2024, certain indirect subsidiaries (collectively, the “Borrowers”) of the Company entered into a revolving credit agreement (the “Revolving Credit Agreement”) with Sumitomo Mitsui Banking Corporation, as joint lead arranger and administrative agent, KKR Capital Markets LLC, an affiliate of the Company, as joint lead arranger, and the lenders party thereto. Under the Revolving Credit Agreement, the lenders have agreed to make credit available to the Borrowers in an aggregate principal amount of up to $1,225,000, with an uncommitted accordion feature that would allow the Borrowers to increase the commitment to up to $1,500,000 in the aggregate. The obligations of the Borrowers and guarantors under the Revolving Credit Agreement are secured by a pledge of certain accounts of such Borrowers and guarantors. The Revolving Credit Agreement matures on December 23, 2027, unless there is an earlier termination or an acceleration following an event of default. During the six months ended June 30, 2026, the Borrowers entered into lender joinder agreements to the Revolving Credit Agreement, pursuant to which the credit available to the Borrowers was increased from aggregate principal amount of $750,000 to an aggregate principal amount of $1,225,000. Advances under the Revolving Credit Agreement denominated in U.S. dollars bear interest, at the relevant Borrower’s option, at (i) the daily or term SOFR plus a spread of 3.50% or (ii) certain alternative rates made available to the Borrower under the terms of the Revolving Credit Agreement. Advances under the Revolving Credit Agreement denominated in currencies other than U.S. dollars will bear interest at certain local rates consistent with market standards plus a spread of 3.50%. The Borrowers are also obligated to pay other customary closing fees, arrangement fees, administration fees, unused fees, commitment fees and letter of credit fees for a credit facility of this size and type. Obligations under the Revolving Credit Agreement are non-recourse to the Company and other parts of KKR. Under the terms of the Revolving Credit Agreement, the Company is subject to customary affirmative and negative covenants. As of June 30, 2026, the Company incurred $23,319 of costs associated with entry into the Revolving Credit Agreement. These costs have been capitalized within Deferred financing costs, net on the Consolidated Statement of Assets and Liabilities. As of June 30, 2026 and December 31, 2025, total remaining unamortized deferred financing costs for the Revolving Credit Agreement was $16,003 and $12,413, respectively. As of both June 30, 2026 and December 31, 2025, the Borrowers did not have an outstanding balance under the Revolving Credit Agreement. During the three months ended June 30, 2026 and 2025, the Company incurred interest expense of $4,116 and $1,350, respectively, and during the six months ended June 30, 2026 and 2025, incurred interest expense of $7,297 and $2,167, respectively, comprised of unused fees and amortization of deferred financing costs.
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