v3.26.1
Unaudited 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
Cash flows from operating activities          
Net increase (decrease) in net assets resulting from operations $ 27,339 $ 29,310 $ 36,634 $ 58,488  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Purchases of investments     (502,796) (680,789)  
Paid-in-kind interest     (3,484) (2,555)  
Proceeds from sales and repayments of investments     407,853 150,840  
Net realized (gain) loss on investments     778 254  
Net change in unrealized (appreciation) depreciation on investments     38,188 (10,858)  
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts (87) 356 279 504  
Net change in unrealized (gain) loss on foreign currency     (4,574) 5,942  
Accretion of discount     (2,471) (1,987)  
Amortization of deferred financing costs     1,404 755  
(Increase) decrease in receivable for investments sold and repaid     0 (5,693)  
(Increase) decrease in income receivable     (3,523) (3,314)  
(Increase) decrease in prepaid expenses and other assets     (659) (5,995)  
Increase (decrease) in payable for investments purchased     0 1,145  
Increase (decrease) in organizational and offering costs payable     0 337  
Increase (decrease) in management fees payable     400 0  
Increase (decrease) in subordinated income incentive fees payable     650 0  
Increase (decrease) in accrued capital gains incentive fee     (2,947) 498  
Increase (decrease) in administrative services expense payable     485 507  
Increase (decrease) in accrued accounting and administrative fees     225 65  
Increase (decrease) in interest payable     1,299 2,201  
Increase (decrease) in other accrued expenses and liabilities     1,092 349  
Net cash provided by (used in) operating activities     (31,167) (489,306)  
Cash flows from financing activities          
Issuance of common shares     245,471 294,997  
Repurchases of common shares     (98,591) (547)  
Distributions to common shareholders     (58,926) (44,678)  
Borrowings under financing arrangements     348,675 486,859  
Repayments under financing arrangements     (459,790) (214,620)  
Deferred financing costs paid     (3,812) (2,762)  
Net cash provided by (used in) financing activities     (26,973) 519,249  
Effect of exchange rate changes on cash     (30) 48  
Total increase (decrease) in cash     (58,170) 29,991  
Cash, cash equivalents and foreign currency at beginning of period     99,252 19,693 $ 19,693
Cash, cash equivalents and foreign currency at end of period $ 41,082 $ 49,684 41,082 49,684 $ 99,252
Supplemental information          
Reinvestment of shareholder distributions     14,253 10,031  
Federal income taxes paid during the period     0 7  
Interest paid during the period     $ 30,319 $ 10,799