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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Investment income:    
Total investment income $ 357,764,000 $ 303,959,000
Expenses:    
Interest expense 92,976,000 66,720,000
Management fees (Note 3) 34,301,000 26,040,000
Income based incentive fees payable 34,301,000 35,845,000
Capital gains based incentive fees (Note 3) 0 3,134,000
Professional fees 886,000 951,000
Board of Trustees’ fees 306,000 222,000
Administrative service expenses (Note 3) 966,000 677,000
Other general and administrative 1,063,000 1,174,000
Total expenses before tax expense 164,799,000 134,763,000
Net investment income before tax expense 192,965,000 169,196,000
Excise and other tax expense 4,169,000 3,350,000
Net investment income after tax expense 188,796,000 165,846,000
Net change in unrealized appreciation (depreciation):    
Net change in unrealized (appreciation) depreciation on investments (40,754,000) 11,787,000
Derivative instruments (Note 6) (1,921,000) 0
Translation of assets and liabilities in foreign currencies 282,000 (21,000)
Income tax (provision) benefit (1,481,000) 0
Net change in unrealized appreciation (depreciation) (43,874,000) 11,766,000
Net realized gain (loss):    
Non-controlled/non-affiliated investments 8,525,000 428,000
Derivative instruments (Note 6) (2,055,000) 0
Foreign currency transactions (987,000) 5,715,000
Current tax expense on realized gains (596,000) 0
Net realized gain (loss) 4,887,000 6,143,000
Net realized and change in unrealized gain (loss) (38,987,000) 17,909,000
Net increase (decrease) in net assets resulting from operations $ 149,809,000 $ 183,755,000
Net investment income (in usd per share) $ 0.83 $ 0.87
Earnings (loss) per share basic (in usd per share) 0.66 0.96
Earnings (loss) per share diluted (in usd per share) $ 0.66 $ 0.96
Weighted average shares outstanding basic (in shares) 226,577,167 190,599,849
Weighted average shares outstanding diluted (in shares) 226,577,167 190,599,849
Non-controlled/non-affiliated investments    
Investment income:    
Interest income $ 335,647,000 $ 283,264,000
Payment-in-kind interest income 20,818,000 20,462,000
Fee income 725,000 233,000
Net change in unrealized appreciation (depreciation):    
Net change in unrealized (appreciation) depreciation on investments (40,105,000) 11,475,000
Net realized gain (loss):    
Non-controlled/non-affiliated investments 8,525,000 428,000
Non-controlled/affiliated investments    
Investment income:    
Interest income 39,000 0
Payment-in-kind interest income 535,000 0
Net change in unrealized appreciation (depreciation):    
Net change in unrealized (appreciation) depreciation on investments $ (649,000) $ 312,000