CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($) $ in Thousands	Dec. 31, 2025		Dec. 31, 2024
ASSETS
Investments, fair value	$ 2,651,286	[1]	$ 1,951,269	[2]
Cash, cash equivalents and restricted cash	122,352		108,453
Receivable for investments sold	0		2,140
Interest receivable	24,834		18,885
Receivable for issuance of common stock	18		22
Derivative assets, at fair value (Note 6)	344		3,772
Prepaid expenses and other assets	14,258		10,619
Total assets	2,813,092		2,095,160
LIABILITIES
Debt and secured borrowings (Note 7)	1,005,834		506,655
Payable for investments purchased	4,957		50,974
Interest and credit facility fees payable (Note 7)	6,164		6,104
Dividend payable (Note 9)	15,982		13,091
Management and incentive fees payable (Note 4)	10,013		8,738
Administrative service fees payable (Note 4)	1,339		1,504
Common stock proceeds received in advance	0		12,454
Other accrued expenses and liabilities	3,179		3,178
Total liabilities	1,047,468		602,698
Commitments and contingencies (Notes 8 and 12)
NET ASSETS
Common stock, $0.01 par value; 200,000,000 shares authorized; 93,812,679 and 76,812,863 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	938		768
Paid-in capital in excess of par value	1,871,027		1,549,238
Total distributable earnings (loss)	(106,341)		(57,544)
Total net assets	1,765,624		1,492,462
Class I Shares
NET ASSETS
Total net assets	1,871,027		1,549,238
Class S Shares
NET ASSETS
Total net assets	0		0
Class D Shares
NET ASSETS
Total net assets	0		0
Non-controlled/non-affiliated
ASSETS
Investments, fair value	2,622,656	[1],[3]	1,951,269	[2],[4]
Non-controlled/affiliated
ASSETS
Investments, fair value	$ 28,630	[1]	$ 0

[1] Fair value is determined in good faith by or under the direction of the Investment Adviser, as the valuation designee pursuant to Rule 2a-5 under the Investment Company Act (see Note 2, Significant Accounting Policies, and Note 3, Fair Value Measurements, to these consolidated financial statements), pursuant to the Company’s valuation policy. The fair value of all first lien and second lien debt investments, equity investments and structured credit investments was determined using significant unobservable inputs.

[2] Fair value is determined in good faith by or under the direction of the Investment Adviser, as the valuation designee pursuant to Rule 2a-5 under the Investment Company Act (see Note 2, Significant Accounting Policies, and Note 3, Fair Value Measurements, to these consolidated financial statements), pursuant to the Company’s valuation policy. The fair value of all first lien and second lien debt investments, structured credit investments, and equity investments was determined using significant unobservable inputs.

[3] Unless otherwise indicated, issuers of debt and equity investments held by the Company are domiciled in the United States. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “Investment Company Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2025, the Company does not “control” any of these portfolio companies. Under the Investment Company Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2025, the Company is not an “affiliated person” of any of these portfolio companies. Certain portfolio company investments are subject to contractual restrictions on sales.

[4] Unless otherwise indicated, issuers of debt and equity investments held by the Company are domiciled in the United States. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “Investment Company Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2024, the Company does not “control” any of these portfolio companies. Under the Investment Company Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2024, the Company is not an “affiliated person” of any of these portfolio companies. Certain portfolio company investments are subject to contractual restrictions on sales.