v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment Income        
Interest income $ 27,138 $ 7,990 $ 53,275 $ 13,799
Dividend income 4,784 3,481 12,914 4,489
Total investment income 31,922 11,471 66,189 18,288
Expenses        
General and administration expenses 3,117 2,762 6,465 4,733
Performance fees 0 983 0 1,726
Management fees 3,851 571 7,768 940
Deferred offering expenses amortization 120 160 267 320
Shareholder servicing fees 634 266 1,223 407
Director fees 153 161 305 287
Organizational expenses 0 102 174 102
Interest and other debt expenses 202 766 421 966
Total expenses 8,077 5,771 16,623 9,481
More/(Less): Expense support from Operating Manager 339 (2,033) (305) (3,541)
Net expenses 8,416 3,738 16,318 5,940
Net investment income before taxes 23,506 7,733 49,871 12,348
Provision for (benefit from) income taxes 4,129 338 3,118 878
Net investment income 19,377 7,395 46,753 11,470
Net realized and net change in unrealized gains (losses) on investments and derivatives:        
Net realized gain (loss) on investments (2,567) 233 (2,475) 459
Net realized gain (loss) on derivatives 0 2,413 (5,359) 1,526
Net realized gain (loss) on foreign currency transactions 1,688 (2,318) 1,038 (2,128)
Net change in unrealized gain (loss) on investments 3,023 12,052 (10,851) 21,338
Net change in unrealized gain (loss) on derivatives (4,124) (9,040) (853) (13,118)
Net unrealized gain (loss) on foreign currency translations (703) 85 (587) 57
Net realized and net change in unrealized gains (losses) on investments and derivatives (2,683) 3,425 (19,087) 8,134
Net increase (decrease) in net assets resulting from operations 16,694 10,820 27,666 19,604
Series I        
Investment Income        
Interest income 4,462 2,011 9,120 3,428
Dividend income 781 874 2,243 1,125
Total investment income 5,243 2,885 11,363 4,553
Expenses        
General and administration expenses 509 689 1,109 1,189
Performance fees 0 265 0 472
Management fees 629 160 1,332 265
Deferred offering expenses amortization 20 40 46 80
Shareholder servicing fees 162 85 320 140
Director fees 25 41 52 72
Organizational expenses 0 25 30 25
Interest and other debt expenses 62 213 136 281
Total expenses 1,407 1,518 3,025 2,524
More/(Less): Expense support from Operating Manager 55 (504) (61) (876)
Net expenses 1,462 1,014 2,964 1,648
Net investment income before taxes 3,781 1,871 8,399 2,905
Provision for (benefit from) income taxes 859 236 1,403 817
Net investment income 2,922 1,635 6,996 2,088
Net realized and net change in unrealized gains (losses) on investments and derivatives:        
Net realized gain (loss) on investments (445) 60 (427) 112
Net realized gain (loss) on derivatives 0 619 (952) 412
Net realized gain (loss) on foreign currency transactions 289 (568) 180 (521)
Net change in unrealized gain (loss) on investments (62) 2,980 (3,408) 5,324
Net change in unrealized gain (loss) on derivatives (334) (2,260) 194 (3,280)
Net unrealized gain (loss) on foreign currency translations 1,108 83 1,130 77
Net realized and net change in unrealized gains (losses) on investments and derivatives 556 914 (3,283) 2,124
Net increase (decrease) in net assets resulting from operations 3,478 2,549 3,713 4,212
Series II        
Investment Income        
Interest income 22,676 5,979 44,155 10,371
Dividend income 4,003 2,607 10,671 3,364
Total investment income 26,679 8,586 54,826 13,735
Expenses        
General and administration expenses 2,608 2,073 5,356 3,544
Performance fees 0 718 0 1,254
Management fees 3,222 411 6,436 675
Deferred offering expenses amortization 100 120 221 240
Shareholder servicing fees 472 181 903 267
Director fees 128 120 253 215
Organizational expenses 0 77 144 77
Interest and other debt expenses 140 553 285 685
Total expenses 6,670 4,253 13,598 6,957
More/(Less): Expense support from Operating Manager 284 (1,529) (244) (2,665)
Net expenses 6,954 2,724 13,354 4,292
Net investment income before taxes 19,725 5,862 41,472 9,443
Provision for (benefit from) income taxes 3,270 102 1,715 61
Net investment income 16,455 5,760 39,757 9,382
Net realized and net change in unrealized gains (losses) on investments and derivatives:        
Net realized gain (loss) on investments (2,122) 173 (2,048) 347
Net realized gain (loss) on derivatives 0 1,794 (4,407) 1,114
Net realized gain (loss) on foreign currency transactions 1,399 (1,750) 858 (1,607)
Net change in unrealized gain (loss) on investments 3,085 9,072 (7,443) 16,014
Net change in unrealized gain (loss) on derivatives (3,790) (6,780) (1,047) (9,838)
Net unrealized gain (loss) on foreign currency translations (1,811) 2 (1,717) (20)
Net realized and net change in unrealized gains (losses) on investments and derivatives (3,239) 2,511 (15,804) 6,010
Net increase (decrease) in net assets resulting from operations $ 13,216 $ 8,271 $ 23,953 $ 15,392