v3.26.1
FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
Dec. 31, 2025
USD ($)
Liabilities:    
Earnout liability $ 407,500 $ 0
Significant Unobservable Inputs (Level 3) | First mortgage loans | Discounted cash flow    
Assets:    
Debt security $ 2,646,427  
Significant Unobservable Inputs (Level 3) | First mortgage loans | Minimum | Discount Rate | Discounted cash flow    
Liabilities:    
Range/Amount (Weighted Average) 0.0617  
Significant Unobservable Inputs (Level 3) | Corporate senior loans and liquid corporate senior loans (1) | Discounted cash flow    
Assets:    
Debt security $ 428,499  
Significant Unobservable Inputs (Level 3) | Corporate senior loans and liquid corporate senior loans (1) | Minimum | Discount Rate | Discounted cash flow    
Liabilities:    
Range/Amount (Weighted Average) 0.0350  
Significant Unobservable Inputs (Level 3) | Earnout Liability | Discount Rate | Discounted cash flow    
Liabilities:    
Debt extended extended term (in years) 2 years 6 months  
Range/Amount (Weighted Average) 0.0414  
Significant Unobservable Inputs (Level 3) | Earnout Liability | Measurement Input, Revenue Volatility | Discounted cash flow    
Liabilities:    
Range/Amount (Weighted Average) 0.151  
Significant Unobservable Inputs (Level 3) | Earnout Liability | Measurement Input, Equity Volatility | Discounted cash flow    
Liabilities:    
Range/Amount (Weighted Average) 0.470  
Significant Unobservable Inputs (Level 3) | Earnout Liability | Measurement Input, Correlation between Projected Revenues and Equity Value | Discounted cash flow    
Liabilities:    
Range/Amount (Weighted Average) 0.150  
Estimated Fair Value    
Assets:    
Investments in managed funds — at fair value $ 397,323 447,262
Investments in unconsolidated joint ventures — at fair value 196,861 56,556
Debt security 114,474  
Total assets 3,835,341 508,896
Liabilities:    
Earnout liability (407,500)  
Total liabilities 407,500  
Estimated Fair Value | First mortgage loans    
Assets:    
Debt security 2,646,427  
Estimated Fair Value | Corporate senior loans and liquid corporate senior loans (1)    
Assets:    
Debt security 440,746  
Estimated Fair Value | Equity securities    
Assets:    
Equity securities 39,510 5,078
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Assets:    
Investments in managed funds — at fair value 0 0
Investments in unconsolidated joint ventures — at fair value 0 0
Debt security 0  
Total assets 28,485 0
Liabilities:    
Earnout liability 0  
Total liabilities 0  
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | First mortgage loans    
Assets:    
Debt security 0  
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate senior loans and liquid corporate senior loans (1)    
Assets:    
Debt security 0  
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities    
Assets:    
Equity securities 28,485 0
Estimated Fair Value | Significant Other Observable Inputs (Level 2)    
Assets:    
Investments in managed funds — at fair value 0 0
Investments in unconsolidated joint ventures — at fair value 41,857 41,856
Debt security 62,554  
Total assets 126,931 46,934
Liabilities:    
Earnout liability 0  
Total liabilities 0  
Estimated Fair Value | Significant Other Observable Inputs (Level 2) | First mortgage loans    
Assets:    
Debt security 0  
Estimated Fair Value | Significant Other Observable Inputs (Level 2) | Corporate senior loans and liquid corporate senior loans (1)    
Assets:    
Debt security 12,247  
Estimated Fair Value | Significant Other Observable Inputs (Level 2) | Equity securities    
Assets:    
Equity securities 10,273 5,078
Estimated Fair Value | Significant Unobservable Inputs (Level 3)    
Assets:    
Investments in managed funds — at fair value 0 0
Investments in unconsolidated joint ventures — at fair value 14,694 14,700
Debt security 51,920  
Total assets 3,142,292 14,700
Liabilities:    
Earnout liability (407,500)  
Total liabilities 407,500  
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | First mortgage loans    
Assets:    
Debt security 2,646,427  
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | Corporate senior loans and liquid corporate senior loans (1)    
Assets:    
Debt security 428,499  
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | Equity securities    
Assets:    
Equity securities 752 0
Reported Value Measurement    
Assets:    
Investments in managed funds — at fair value 397,323 447,262
Investments in unconsolidated joint ventures — at fair value 140,310 0
Debt security 0  
Total assets 537,633 447,262
Liabilities:    
Earnout liability 0  
Total liabilities 0  
Reported Value Measurement | First mortgage loans    
Assets:    
Debt security 0  
Reported Value Measurement | Corporate senior loans and liquid corporate senior loans (1)    
Assets:    
Debt security 0  
Reported Value Measurement | Equity securities    
Assets:    
Equity securities $ 0 $ 0