v3.26.3
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Investment income        
Payment-in-kind interest income     $ 386 $ 126
Total investment income $ 49,380 $ 16,194 134,003 19,300
Operating Expenses        
Interest expense 13,952 2,820 35,752 5,260
Organization costs   157   2,796
Management fees 3,478 2,377 9,838 2,377
Investment income incentive fee 3,695 1,469 10,330 1,555
Capital gains incentive fee   (88)    
Administration fees 1,159 747 2,746 884
Professional fees 611 362 1,298 433
Offering costs 172 167 796 167
Other expenses 468 283 1,764 284
Total operating expenses before expense support and waivers 23,535 8,294 62,524 13,756
Expense support (Note 3)   (148)   (2,786)
Management fees waiver   (2,377) (1,043) (2,377)
Investment income incentive fee waiver   (135)   (221)
Net Operating Expenses 23,535 5,634 61,481 8,372
Net investment income (loss) before taxes 25,845 10,560 72,522 10,928
Income taxes, including unincorporated business tax expense (21) 55 211 123
Net investment income (loss) 25,866 10,505 72,311 10,805
Net realized gain (loss) from:        
Net realized gain (loss)     (28,609) (75)
Foreign currency translation on loans payable (136)   (136)  
Foreign currency transactions (79) (22) 469 8
Forward foreign currency contracts 1,614 (214) 1,948 (214)
Total net realized gain (loss) 1,395 (325) (26,328) (281)
Net change in unrealized gain (loss) from:        
Net change in unrealized gain (loss) from     6,564 (731)
Foreign currency translation on loans payable 590   1,495  
Foreign currency transactions (6)   (128)  
Forward foreign currency contracts (1,127) 162 (581) 118
Total net change in unrealized gain (loss) (489) (1,273) 7,350 (613)
Total net realized and change in unrealized gain (loss) 906 (1,598) (18,978) (894)
Total Net Increase (Decrease) in Net Assets Resulting from Operations $ 26,772 $ 8,907 $ 53,333 $ 9,911
Earnings (loss) per share, basic $ 0.58 $ 0.29 $ 1.22 $ 0.32
Earnings (loss) per share, diluted $ 0.58 $ 0.29 $ 1.22 $ 0.32
Weighted average shares outstanding, basic 45,998,042 30,533,432 43,665,211 30,533,432
Weighted average shares outstanding, diluted 45,998,042 30,533,432 43,665,211 30,533,432
Non-controlled, Non-affiliated Investments        
Investment income        
Interest income $ 48,157 $ 15,924 $ 131,152 $ 18,455
Payment-in-kind interest income 142 101 386 126
Other income 536 68 1,213 618
Dividend income 214   428  
Total investment income 49,049 16,093 133,179 19,199
Net realized gain (loss) from:        
Net realized gain (loss) (4) (89) (28,609) (75)
Net change in unrealized gain (loss) from:        
Net change in unrealized gain (loss) from (76) (1,374) 5,672 (670)
Non-controlled, Affiliated Investments        
Investment income        
Interest income 236 97 548 97
Other income   4 2 4
Total investment income 236 101 550 101
Net change in unrealized gain (loss) from:        
Net change in unrealized gain (loss) from 64 $ (61) 40 $ (61)
Controlled, Affiliated Investments        
Investment income        
Interest income 95   274  
Total investment income 95   274  
Net change in unrealized gain (loss) from:        
Net change in unrealized gain (loss) from $ 66   $ 852