v3.26.1
Consolidated Statement 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 $ 27,666 $ 19,604
Adjustments to reconcile net increase/(decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net realized (gain) loss on investments 2,475 (459)
Net change in unrealized (gain) loss on investments 10,851 (21,338)
Payments to purchase investments (1,538,501) (1,225,422)
Proceeds from sale of investments 1,164,948 725,216
Net realized (gain) loss on derivatives 5,359 (1,526)
Net change in unrealized (gain) loss on derivatives 853 13,118
Payments to purchase derivatives (375,370) (34,998)
Proceeds from sale of derivatives 360,640 1,525
Changes in operating assets and liabilities:    
(Increase)/decrease in receivable for investments sold (22,739) (19,375)
(Increase)/decrease in Due from Operating Manager (305) (3,543)
(Increase)/decrease in interest receivable (8,450) (3,205)
(Increase)/decrease in dividends receivable (4,851) (4,488)
(Increase)/decrease in deferred offering expenses 237 319
(Increase)/decrease in prepaid expenses and other assets, excluding restricted cash 2,054 (19,547)
(Increase)/decrease in capital subscriptions receivable 10,058 0
Increase/(decrease) in Due to Operating Manager (480) 3,589
Increase/(decrease) in payable for investments purchased 186,116 2,493
Increase/(decrease) in performance fees payable (5,824) 1,714
Increase/(decrease) in management fees payable (845) 941
Increase/(decrease) in interest payable 2,108 694
Increase/(decrease) in capital repurchases payable (10,058) 0
Increase/(decrease) in other accrued expenses and liabilities (9,950) (17)
Net cash provided by (used in) operating activities (204,008) (564,705)
Financing activities    
Notes Borrowings/(Repayments) (124) 65,124
Proceeds from issuance of shares 404,143 483,485
Net borrowings of repurchase agreements (24,889) 0
Repurchases of shares (71,679) (11,897)
Exchanges in (out) 0 0
Distributions paid (32,553) (9,324)
Net cash provided by (used in) financing activities 274,898 527,388
Cash and cash equivalents    
Net increase/(decrease) in cash and cash equivalents 70,890 (37,317)
Cash and cash equivalents at beginning of period 86,181 58,587
Cash, Cash equivalents and restricted cash at end of year 157,071 21,270
Supplemental disclosure of cash flow information:    
Income taxes paid 2,268 434
Cash paid for interest 198 629
Noncash financing activities not included - distribution payable 9,691 0
Noncash financing activities not included - reinvestment of distribution 21,838 0
Series I    
Operating activities    
Net increase/(decrease) in net assets resulting from operations 3,713 4,212
Adjustments to reconcile net increase/(decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net realized (gain) loss on investments 427 (112)
Net change in unrealized (gain) loss on investments 3,408 (5,324)
Payments to purchase investments (156,747) (220,087)
Proceeds from sale of investments 147,347 108,190
Net realized (gain) loss on derivatives 952 (412)
Net change in unrealized (gain) loss on derivatives (194) 3,280
Payments to purchase derivatives (31,592) (8,124)
Proceeds from sale of derivatives 30,827 411
Changes in operating assets and liabilities:    
(Increase)/decrease in receivable for investments sold (806) (4,725)
(Increase)/decrease in Due from Operating Manager 376 (580)
(Increase)/decrease in interest receivable (2,236) (696)
(Increase)/decrease in dividends receivable (466) (1,095)
(Increase)/decrease in deferred offering expenses 109 208
(Increase)/decrease in prepaid expenses and other assets, excluding restricted cash 15,400 (4,626)
(Increase)/decrease in capital subscriptions receivable 0 0
Increase/(decrease) in Due to Operating Manager (552) 532
Increase/(decrease) in payable for investments purchased 17,868 191
Increase/(decrease) in performance fees payable (1,339) 460
Increase/(decrease) in management fees payable (235) 265
Increase/(decrease) in interest payable 1,426 167
Increase/(decrease) in capital repurchases payable (10,058) 0
Increase/(decrease) in other accrued expenses and liabilities 1,611 872
Net cash provided by (used in) operating activities 19,239 (126,993)
Financing activities    
Notes Borrowings/(Repayments) (24) 15,884
Proceeds from issuance of shares 41,940 115,108
Net borrowings of repurchase agreements (9,683) 0
Repurchases of shares (11,189) (11,323)
Exchanges in (out) (29,166) 0
Distributions paid (5,041) (1,939)
Net cash provided by (used in) financing activities (13,163) 117,730
Cash and cash equivalents    
Net increase/(decrease) in cash and cash equivalents 6,076 (9,263)
Cash and cash equivalents at beginning of period 24,031 16,817
Cash, Cash equivalents and restricted cash at end of year 30,107 7,554
Supplemental disclosure of cash flow information:    
Income taxes paid 2,268 434
Cash paid for interest 96 185
Noncash financing activities not included - distribution payable 1,430 0
Noncash financing activities not included - reinvestment of distribution 2,663 0
Series II    
Operating activities    
Net increase/(decrease) in net assets resulting from operations 23,953 15,392
Adjustments to reconcile net increase/(decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net realized (gain) loss on investments 2,048 (347)
Net change in unrealized (gain) loss on investments 7,443 (16,014)
Payments to purchase investments (1,381,754) (1,005,335)
Proceeds from sale of investments 1,017,601 617,026
Net realized (gain) loss on derivatives 4,407 (1,114)
Net change in unrealized (gain) loss on derivatives 1,047 9,838
Payments to purchase derivatives (343,778) (26,874)
Proceeds from sale of derivatives 329,813 1,114
Changes in operating assets and liabilities:    
(Increase)/decrease in receivable for investments sold (21,933) (14,650)
(Increase)/decrease in Due from Operating Manager (681) (2,963)
(Increase)/decrease in interest receivable (6,214) (2,509)
(Increase)/decrease in dividends receivable (4,385) (3,393)
(Increase)/decrease in deferred offering expenses 128 111
(Increase)/decrease in prepaid expenses and other assets, excluding restricted cash (13,346) (14,921)
(Increase)/decrease in capital subscriptions receivable 10,058 0
Increase/(decrease) in Due to Operating Manager 72 3,057
Increase/(decrease) in payable for investments purchased 168,248 2,302
Increase/(decrease) in performance fees payable (4,485) 1,254
Increase/(decrease) in management fees payable (610) 676
Increase/(decrease) in interest payable 682 527
Increase/(decrease) in capital repurchases payable 0 0
Increase/(decrease) in other accrued expenses and liabilities (11,561) (889)
Net cash provided by (used in) operating activities (223,247) (437,712)
Financing activities    
Notes Borrowings/(Repayments) (100) 49,240
Proceeds from issuance of shares 362,203 368,377
Net borrowings of repurchase agreements (15,206) 0
Repurchases of shares (60,490) (574)
Exchanges in (out) 29,166 0
Distributions paid (27,512) (7,385)
Net cash provided by (used in) financing activities 288,061 409,658
Cash and cash equivalents    
Net increase/(decrease) in cash and cash equivalents 64,814 (28,054)
Cash and cash equivalents at beginning of period 62,150 41,770
Cash, Cash equivalents and restricted cash at end of year 126,964 13,716
Supplemental disclosure of cash flow information:    
Income taxes paid 0 0
Cash paid for interest 102 444
Noncash financing activities not included - distribution payable 8,261 0
Noncash financing activities not included - reinvestment of distribution $ 19,175 $ 0