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/(decrease) in net assets resulting from operations $ 45,708 $ 41,149
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 2,041 (3,335)
Net change in unrealized (gain) loss on investments (395) (27,850)
Payments to purchase investments (2,254,938) (1,909,572)
Proceeds from sale of investments 1,829,863 1,104,886
Net realized (gain) loss on derivatives 5,319 150
Net change in unrealized (gain) loss on derivatives 9,474 6,279
Payments to purchase derivatives (675,480) (34,998)
Proceeds from sale of derivatives 672,114 (151)
Changes in operating assets and liabilities:    
(Increase)/decrease in receivable for investments sold (43,465) (11,473)
(Increase)/decrease in Due from Operating Manager 92 (4,825)
(Increase)/decrease in interest receivable (2,878) (9,752)
(Increase)/decrease in dividends receivable 1,673 (9,049)
(Increase)/decrease in deferred offering expenses 388 480
(Increase)/decrease in prepaid expenses and other assets, excluding restricted cash (100,511) (12,517)
(Increase)/decrease in capital subscriptions receivable 11,238 342
Increase/(decrease) in Due to Operating Manager 77 6,506
Increase/(decrease) in payable for investments purchased 229,679 (15)
Increase/(decrease) in performance fees payable (5,824) 3,670
Increase/(decrease) in management fees payable (774) 942
Increase/(decrease) in interest payable (1,352) 6,214
Increase/(decrease) in capital subscriptions received in advance 0 (450)
Increase/(decrease) in capital repurchases payable (11,238) 2,358
Increase/(decrease) in accrued shareholder servicing fees and distribution fees payable 13,133 0
Increase/(decrease) in other accrued expenses and liabilities 52,010 3,535
Net cash provided by (used in) operating activities (224,046) (847,476)
Financing activities    
Notes Borrowings/(Repayments) (124) 124
Proceeds from issuance of shares 512,895 919,772
Net borrowings of repurchase agreements (22,935) 0
Repurchases of shares (121,565) (17,070)
Exchanges in (out) 0 0
Distributions paid (51,178) (34,126)
Accrued shareholder servicing fees and distribution fees (13,802) 0
Net cash provided by (used in) financing activities 303,291 868,700
Cash and cash equivalents    
Net increase/(decrease) in cash and cash equivalents 79,245 21,224
Cash and cash equivalents at beginning of period 86,181 58,587
Cash, Cash equivalents and restricted cash at end of year 165,426 79,811
Supplemental disclosure of cash flow information:    
Income taxes paid 2,765 824
Cash paid for interest 452 938
Noncash financing activities not included - distribution payable 10,153 0
Noncash financing activities not included - reinvestment of distribution 32,950 0
Series I    
Operating activities    
Net increase/(decrease) in net assets resulting from operations 5,735 8,241
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 358 (740)
Net change in unrealized (gain) loss on investments 1,697 (6,775)
Payments to purchase investments (250,543) (313,510)
Proceeds from sale of investments 241,279 154,501
Net realized (gain) loss on derivatives 946 (45)
Net change in unrealized (gain) loss on derivatives 1,139 1,803
Payments to purchase derivatives (73,283) (7,291)
Proceeds from sale of derivatives 74,522 44
Changes in operating assets and liabilities:    
(Increase)/decrease in receivable for investments sold (39,599) (2,498)
(Increase)/decrease in Due from Operating Manager 494 (608)
(Increase)/decrease in interest receivable (1,229) (1,277)
(Increase)/decrease in dividends receivable 615 (1,971)
(Increase)/decrease in deferred offering expenses 141 308
(Increase)/decrease in prepaid expenses and other assets, excluding restricted cash (1,255) (2,497)
(Increase)/decrease in capital subscriptions receivable 0 540
Increase/(decrease) in Due to Operating Manager (265) 883
Increase/(decrease) in payable for investments purchased 62,137 (357)
Increase/(decrease) in performance fees payable (1,339) 882
Increase/(decrease) in management fees payable (231) 252
Increase/(decrease) in interest payable 811 639
Increase/(decrease) in capital subscriptions received in advance 0 0
Increase/(decrease) in capital repurchases payable (11,238) 321
Increase/(decrease) in accrued shareholder servicing fees and distribution fees payable 3,254 0
Increase/(decrease) in other accrued expenses and liabilities 7,492 1,733
Net cash provided by (used in) operating activities 21,638 (167,422)
Financing activities    
Notes Borrowings/(Repayments) (24) 27
Proceeds from issuance of shares 53,585 191,888
Net borrowings of repurchase agreements (10,001) 0
Repurchases of shares (17,513) (15,860)
Exchanges in (out) (34,196) 0
Distributions paid (7,619) (6,782)
Accrued shareholder servicing fees and distribution fees (3,420) 0
Net cash provided by (used in) financing activities (19,188) 169,273
Cash and cash equivalents    
Net increase/(decrease) in cash and cash equivalents 2,450 1,851
Cash and cash equivalents at beginning of period 24,031 16,817
Cash, Cash equivalents and restricted cash at end of year 26,481 18,668
Supplemental disclosure of cash flow information:    
Income taxes paid 2,765 824
Cash paid for interest 241 256
Noncash financing activities not included - distribution payable 1,199 0
Noncash financing activities not included - reinvestment of distribution 3,910 0
Series II    
Operating activities    
Net increase/(decrease) in net assets resulting from operations 39,973 32,908
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 1,683 (2,595)
Net change in unrealized (gain) loss on investments (2,092) (21,075)
Payments to purchase investments (2,004,395) (1,596,062)
Proceeds from sale of investments 1,588,584 950,385
Net realized (gain) loss on derivatives 4,373 195
Net change in unrealized (gain) loss on derivatives 8,335 4,476
Payments to purchase derivatives (602,197) (27,707)
Proceeds from sale of derivatives 597,592 (195)
Changes in operating assets and liabilities:    
(Increase)/decrease in receivable for investments sold (3,866) (8,975)
(Increase)/decrease in Due from Operating Manager (402) (4,217)
(Increase)/decrease in interest receivable (1,649) (8,475)
(Increase)/decrease in dividends receivable 1,058 (7,078)
(Increase)/decrease in deferred offering expenses 247 172
(Increase)/decrease in prepaid expenses and other assets, excluding restricted cash (99,256) (10,020)
(Increase)/decrease in capital subscriptions receivable 11,238 (198)
Increase/(decrease) in Due to Operating Manager 342 5,623
Increase/(decrease) in payable for investments purchased 167,542 342
Increase/(decrease) in performance fees payable (4,485) 2,788
Increase/(decrease) in management fees payable (543) 690
Increase/(decrease) in interest payable (2,163) 5,575
Increase/(decrease) in capital subscriptions received in advance 0 (450)
Increase/(decrease) in capital repurchases payable 0 2,037
Increase/(decrease) in accrued shareholder servicing fees and distribution fees payable 9,879 0
Increase/(decrease) in other accrued expenses and liabilities 44,518 1,802
Net cash provided by (used in) operating activities (245,684) (680,054)
Financing activities    
Notes Borrowings/(Repayments) (100) 97
Proceeds from issuance of shares 459,310 727,884
Net borrowings of repurchase agreements (12,934) 0
Repurchases of shares (104,052) (1,210)
Exchanges in (out) 34,196 0
Distributions paid (43,559) (27,344)
Accrued shareholder servicing fees and distribution fees (10,382) 0
Net cash provided by (used in) financing activities 322,479 699,427
Cash and cash equivalents    
Net increase/(decrease) in cash and cash equivalents 76,795 19,373
Cash and cash equivalents at beginning of period 62,150 41,770
Cash, Cash equivalents and restricted cash at end of year 138,945 61,143
Supplemental disclosure of cash flow information:    
Income taxes paid 0 0
Cash paid for interest 211 682
Noncash financing activities not included - distribution payable 8,954 0
Noncash financing activities not included - reinvestment of distribution $ 29,040 $ 0