v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net increase (decrease) in net assets from operations     $ 47,653 $ 27,340  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Purchase of investments     (953,503) (1,145,887)  
Proceeds from sales of investments and principal repayments     696,469 746,641  
Payment-in-kind interest     (2,542) (1,561)  
Net realized (gains) losses on investments $ 25 $ (12) 162 99 $ 7,092
Net change in unrealized (gain) loss 603 (616) 7,817 3,016 504
Net accretion of discount on investments     (5,760) (2,326)  
Amortization of deferred financing costs     2,982 2,151  
Amortization of deferred offering costs     0 1,657  
Changes in operating assets and liabilities:          
(Increase) decrease in prepaid insurance     0 204  
(Increase) decrease in other assets     (26) (43)  
(Increase) decrease in interest receivable on investments     (6,942) (4,442)  
(Increase) decrease in receivable for paydowns of investments     1,294 10  
(Increase) decrease in receivable for unsettled sales     49,152 0  
Increase (decrease) in investment income incentive fee payable     727 1,793  
Increase (decrease) in accrued capital gains incentive fee     0 (33)  
Increase (decrease) in management fee payable     424 1,130  
Increase (decrease) in payable to affiliates [1]     (3,700) (561)  
Increase (decrease) in payable for unsettled purchases     0 (69,940)  
Increase (decrease) in interest payable     2,008 1,390  
Net cash provided by (used in) operating activities     (163,785) (439,362)  
Cash flows from financing activities:          
Proceeds from issuance of common shares, net     49,021 220,000  
Distributions paid     (35,677) (20,108)  
Deferred financing costs paid     (1,541) (1,200)  
Borrowings on credit facilities     640,050 823,500  
Paydown on credit facilities     (483,350) (559,500)  
Repayment of secured borrowings     0 (78,000)  
Proceeds from secured borrowings     0 60,000  
Series A Preferred Shares dividends paid     (93)    
Net cash provided by (used in) financing activities     168,410 444,692  
Net increase (decrease) in cash and cash equivalents     4,625 5,330  
Cash and cash equivalents, beginning of period     19,127 31,554 31,554
Cash and cash equivalents, end of period 23,752 36,884 23,752 36,884 $ 19,127
Supplemental and Non-Cash Financing Activities          
Cash paid during the period for interest     34,783 25,034  
Distribution payable     18,572 13,650  
Reinvestment of shareholder distributions $ 4,235 $ 2,265 11,775 6,568  
Reallocation of revolving credit facility     $ 72,500 $ 200,000  
[1] Increases in payable to affiliates is reduced by the accrued but unpaid deferred financing and offering costs.