v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net increase (decrease) in net assets from operations $ 29,587 $ 13,196
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Purchase of investments (619,769) (911,613)
Proceeds from sales of investments and principal repayments 506,755 491,382
Payment-in-kind interest (1,931) (382)
Net realized (gains) losses on investments 137 111
Net change in unrealized (gain) loss 7,214 3,632
Net accretion of discount on investments (4,860) (1,605)
Amortization of deferred financing costs 1,983 1,350
Amortization of deferred offering costs 0 1,657
Changes in operating assets and liabilities:    
(Increase) decrease in prepaid insurance (80) 122
(Increase) decrease in other assets 46 (55)
(Increase) decrease in interest receivable on investments (1,306) (1,841)
(Increase) decrease in receivable for paydowns of investments 1,294 (63)
(Increase) decrease in receivable for unsettled sales 49,152 (33,357)
Increase (decrease) in investment income incentive fee payable 1,118 1,070
Increase (decrease) in accrued capital gains incentive fee 0 (33)
Increase (decrease) in management fee payable 182 571
Increase (decrease) in payable to affiliates [1] (3,437) 2,183
Increase (decrease) in payable for unsettled purchases 0 (69,940)
Increase (decrease) in interest payable 1,387 1,763
Net cash provided by (used in) operating activities (32,528) (501,852)
Cash flows from financing activities:    
Proceeds from issuance of common shares, net 46,718 220,000
Distributions paid (22,784) (13,296)
Deferred financing costs paid (390) (1,075)
Borrowings on credit facilities 462,050 660,500
Paydown on credit facilities (447,350) (398,800)
Repayment of secured borrowings 0 (18,000)
Proceeds from secured borrowings 0 60,000
Series A Preferred Shares dividends paid (93)  
Net cash provided by (used in) financing activities 38,151 509,329
Net increase (decrease) in cash and cash equivalents 5,623 7,477
Cash and cash equivalents, beginning of period 19,127 31,554
Cash and cash equivalents, end of period 24,750 39,031
Supplemental and Non-Cash Financing Activities    
Accrued but unpaid deferred financing costs 0 70
Cash paid during the period for interest 22,307 14,439
Distribution payable 17,128 9,078
Reinvestment of shareholder distributions 7,539 4,303
Reallocation of revolving credit facility $ 72,500 $ 0
[1] Increases in payable to affiliates is reduced by the accrued but unpaid deferred financing and offering costs.