v3.26.3
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities    
Net increase in net assets resulting from operations $ 52,011 $ 30,459
Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:    
Net realized (gains) losses on investments (943) (525)
Net change in unrealized (appreciation) depreciation on investments 8,172 5,615
Net accretion of discount and amortization of premium (2,522) (1,903)
Amortization of deferred financing costs 1,982 1,767
Amortization of debt issuance costs 495 386
Amortization of offering costs 190 221
Payment-in-kind interest and fees capitalized (3,891) (1,089)
Purchase of investments (597,381) (600,978)
Proceeds from sale of investments and principal repayments 117,148 44,300
Changes in assets and liabilities:    
Interest receivable (828) (2,175)
Due from Investment Adviser (1,089) 3
Prepaid expenses and other assets 295 57
Management fees payable 819 1,347
Incentive fees payable 726 1,829
Interest payable 6,543 7,309
Due to Investment Adviser 131 0
Accrued expenses and other liabilities 384 758
Net Cash Used in Operating Activities (417,758) (512,619)
Financing Activities    
Issuance of CLO Notes 261,886 272,000
Borrowings on debt 701,750 574,400
Repayments on debt (753,302) (551,448)
Financing costs paid and deferred (1,206) (294)
Debt issuance costs paid and deferred (2,008) (2,568)
Offering costs paid and deferred 0 (314)
Subscriptions received in advance 6,460 26,015
Proceeds from issuance of common shares 312,592 249,998
Repurchase of common shares, net of early repurchase deduction (40,318) (440)
Distributions paid to shareholders (46,792) (31,118)
Net Cash Provided by Financing Activities 439,062 536,231
Cash and Cash Equivalents and Restricted Cash    
Net increase (decrease) in cash and cash equivalents and restricted cash 21,304 23,612
Cash and cash equivalents and restricted cash, beginning of period 40,117 24,109
Cash and cash equivalents and restricted cash, end of period 61,421 47,721
Supplemental Disclosure and Non-Cash Information    
Cash paid for interest 39,033 22,039
Accrued but unpaid deferred financing costs 141 11
Distributions payable 7,602 4,539
Accrued but unpaid debt issuance costs 325 90
Accrued but unpaid offering costs 0 88
Distributions reinvested in common shares 10,444 4,093
Cash and Cash Equivalents and Restricted Cash    
Cash and Cash Equivalents 9,581  
Restricted cash 51,840  
Cash and cash equivalents and restricted cash $ 61,421 $ 47,721