Fair Value Measurements - Schedule of Changes in Level 3 Portfolio (Details) - USD ($)
$ in Thousands |
3 Months Ended |
6 Months Ended |
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
| Total Investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
$ 1,938,405
|
$ 1,123,739
|
$ 1,864,205
|
$ 816,313
|
| Purchases of investments |
104,172
|
259,510
|
289,166
|
569,942
|
| Principal repayments and sales of investments |
(25,683)
|
(62,087)
|
(134,729)
|
(69,992)
|
| Transfers in |
2,222
|
1,554
|
4,020
|
1,075
|
| Transfers out |
(33,399)
|
(649)
|
(33,864)
|
(1,110)
|
| Fair value, end of period |
1,987,334
|
1,330,652
|
1,987,334
|
1,330,652
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
(632)
|
7,830
|
(7,208)
|
12,163
|
| Net transfers |
(31,200)
|
|
(30,700)
|
|
| Total Investments | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
2,247
|
1,641
|
5,405
|
2,823
|
| Total Investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
513
|
(228)
|
2,608
|
(227)
|
| Total Investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
(1,143)
|
7,172
|
(9,477)
|
11,828
|
| First Lien Debt |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
1,492,185
|
1,004,807
|
1,481,458
|
701,826
|
| Purchases of investments |
63,777
|
168,535
|
172,725
|
475,625
|
| Principal repayments and sales of investments |
(23,348)
|
(55,426)
|
(112,687)
|
(61,665)
|
| Transfers in |
0
|
1,554
|
891
|
1,075
|
| Transfers out |
(5,404)
|
(613)
|
(5,702)
|
0
|
| Fair value, end of period |
1,517,444
|
1,123,989
|
1,517,444
|
1,123,989
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
(11,800)
|
4,443
|
(23,886)
|
5,001
|
| First Lien Debt | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
2,097
|
1,575
|
5,029
|
2,689
|
| First Lien Debt | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
449
|
(228)
|
1,510
|
(227)
|
| First Lien Debt | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
(12,312)
|
3,785
|
(25,780)
|
4,666
|
| Investments in second lien debt |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
7,982
|
4,314
|
7,906
|
5,329
|
| Purchases of investments |
2,092
|
59
|
2,188
|
115
|
| Principal repayments and sales of investments |
0
|
0
|
0
|
0
|
| Transfers in |
0
|
0
|
0
|
0
|
| Transfers out |
0
|
0
|
0
|
(1,075)
|
| Fair value, end of period |
10,045
|
4,373
|
10,045
|
4,373
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
(35)
|
(3)
|
(60)
|
(2)
|
| Investments in second lien debt | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
6
|
3
|
11
|
6
|
| Investments in second lien debt | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
0
|
0
|
0
|
| Investments in second lien debt | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
(35)
|
(3)
|
(60)
|
(2)
|
| Investments in other secured debt |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
74,116
|
18,307
|
64,380
|
17,960
|
| Purchases of investments |
7,312
|
307
|
33,655
|
2,253
|
| Principal repayments and sales of investments |
(1,997)
|
(1,667)
|
(19,802)
|
(3,333)
|
| Transfers in |
0
|
0
|
907
|
0
|
| Transfers out |
0
|
0
|
0
|
0
|
| Fair value, end of period |
79,396
|
16,950
|
79,396
|
16,950
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
(166)
|
(45)
|
(542)
|
(29)
|
| Net transfers |
|
|
3,100
|
|
| Investments in other secured debt | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
131
|
48
|
340
|
99
|
| Investments in other secured debt | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
0
|
824
|
0
|
| Investments in other secured debt | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
(166)
|
(45)
|
(908)
|
(29)
|
| Unsecured debt |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
48,633
|
17,971
|
48,111
|
17,385
|
| Purchases of investments |
6,949
|
609
|
7,618
|
1,192
|
| Principal repayments and sales of investments |
0
|
0
|
0
|
0
|
| Transfers in |
0
|
0
|
0
|
0
|
| Transfers out |
(27,995)
|
0
|
(28,162)
|
0
|
| Fair value, end of period |
27,552
|
18,271
|
27,552
|
18,271
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
(48)
|
(322)
|
(40)
|
(331)
|
| Unsecured debt | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
13
|
13
|
25
|
25
|
| Unsecured debt | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
0
|
0
|
0
|
| Unsecured debt | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
(48)
|
(322)
|
(40)
|
(331)
|
| Structured Finance |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
18,944
|
0
|
17,206
|
0
|
| Purchases of investments |
19,140
|
83
|
20,949
|
83
|
| Principal repayments and sales of investments |
0
|
0
|
0
|
0
|
| Transfers in |
0
|
0
|
0
|
0
|
| Transfers out |
0
|
0
|
0
|
0
|
| Fair value, end of period |
39,466
|
83
|
39,466
|
83
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
1,382
|
0
|
1,311
|
0
|
| Structured Finance | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
0
|
0
|
0
|
| Structured Finance | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
0
|
0
|
0
|
| Structured Finance | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
1,382
|
0
|
1,311
|
0
|
| Preferred equity |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
246,909
|
31,187
|
196,010
|
28,588
|
| Purchases of investments |
4,490
|
89,630
|
51,352
|
90,375
|
| Principal repayments and sales of investments |
(161)
|
0
|
(2,063)
|
0
|
| Transfers in |
2,222
|
0
|
2,222
|
0
|
| Transfers out |
0
|
0
|
0
|
0
|
| Fair value, end of period |
262,887
|
124,026
|
262,887
|
124,026
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
9,426
|
3,207
|
15,165
|
5,059
|
| Preferred equity | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
2
|
0
|
4
|
| Preferred equity | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
0
|
210
|
0
|
| Preferred equity | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
9,427
|
3,207
|
15,156
|
5,059
|
| Other equity investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning of period |
49,636
|
47,153
|
49,134
|
45,225
|
| Purchases of investments |
412
|
287
|
679
|
299
|
| Principal repayments and sales of investments |
(177)
|
(4,994)
|
(177)
|
(4,994)
|
| Transfers in |
0
|
0
|
0
|
0
|
| Transfers out |
0
|
(36)
|
0
|
(35)
|
| Fair value, end of period |
50,544
|
42,960
|
50,544
|
42,960
|
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026 |
609
|
550
|
844
|
2,465
|
| Other equity investments | Income Statement Location [Axis]: us-gaap:AccretionAmortizationOfDiscountsAndPremiumsInvestments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
0
|
0
|
0
|
0
|
| Other equity investments | Income Statement Location [Axis]: us-gaap:RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
64
|
0
|
64
|
0
|
| Other equity investments | Income Statement Location [Axis]: us-gaap:UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionPriceChangeOperatingAfterTax |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Gain (loss) included in earnings |
$ 609
|
$ 550
|
$ 844
|
$ 2,465
|