v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net Increase (Decrease) in Net Assets Resulting from Operations $ 81,219 $ 54,660
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by/(used in) operating activities:    
Purchases of investments (1,111,627) (765,632)
Proceeds from sales, exits and repayments of investments 318,819 202,118
Payment-in-kind interest capitalized (2,935) (1,178)
Accretion of original issue discount, net of amortized premiums on investments (4,417) (3,485)
Amortization of debt issuance costs 4,603 1,364
Net realized (gain) loss from investments in securities of unaffiliated issuers 1,995 0
Net change in unrealized (appreciation) depreciation from investments in securities of unaffiliated issuers 11,400 736
Changes in Assets and Liabilities:    
(Increase)/decrease in interest receivable (381) (1,553)
(Increase)/decrease in receivables for investments sold (6,217) (106)
(Increase)/decrease in prepaid and other assets 214 (538)
(Increase)/decrease in receivable from Advisor 0 731
Increase/(decrease) in interest payable (2,114) (1,406)
Increase/(decrease) in management fee payable 1,971 835
Increase/(decrease) in incentive fee payable 510 447
Increase/(decrease) in directors' fees payable 19 25
Increase/(decrease) in payables for investments purchased 0 (7,555)
Increase/(decrease) in accrued expenses 742 (17)
Net cash provided by/(used in) operating activities (706,199) (520,554)
Financing activities    
Proceeds from issuance of shares, net of changes in subscriptions received in advance 896,223 325,686
Repurchase of shares, net of change in repurchase offer payable (142) (9,246)
Distributions, net of distribution reinvestment plan and change in distributions payable (57,689) (26,357)
Borrowings under lines of credit 581,411 477,500
Repayments to lines of credit (875,162) (389,500)
Issuance of debt securitization 0 174,000
Issuance of unsecured notes 150,000 0
Debt issuance costs paid (1,697) (6,281)
Net cash provided by/(used in) financing activities 692,944 545,802
Net increase/(decrease) in cash and cash equivalents and restricted cash and restricted cash equivalents (13,255) 25,248
Cash and restricted cash and cash equivalents and restricted cash equivalents at beginning of the period 169,794 31,244
Cash and restricted cash and cash equivalents and restricted cash equivalents at end of the period 156,539 56,492
Supplemental information and non-cash activities    
Interest paid on lines of credit, debt securitizations, and unsecured notes 40,481 29,691
Issuance of shares in connection with distribution reinvestment plan 33,182 24,347
Reconciliation to the Consolidated Statement of Assets and Liabilities    
Cash and restricted cash 22,635 8,204
Cash equivalents and restricted cash equivalents 133,904 48,288
Total cash and restricted cash and cash equivalents and restricted cash equivalents $ 156,539 $ 56,492