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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Investment income:        
Payment-in-kind interest income $ 4,001 $ 1,767 $ 10,003 $ 5,500
Dividend income 498 128 1,061 372
Other income 3,405 453 6,065 1,093
Total investment income 113,319 59,212 295,115 155,624
Operating expenses:        
Interest and other debt financing expenses 37,754 16,261 95,346 41,416
Base management fees 11,542 6,206 30,169 16,435
Incentive fees 8,312 4,332 21,843 11,563
Professional fees 749 495 1,803 1,318
Administrative service fees 790 450 2,039 1,212
General and administrative expenses 1,337 273 3,330 1,335
Directors’ fees 38 23 113 69
Total operating expenses 60,522 28,040 154,643 73,348
Net investment income before income taxes 52,797 31,172 140,472 82,276
Income taxes, including excise taxes 199 150 673 534
Net investment income 52,598 31,022 139,799 81,742
Net realized gain (loss):        
Non-controlled/non-affiliate company investments     719 (622)
Foreign currency forward contracts (25) (2) (23) 1,739
Foreign currency and other transactions (220) (10) (126) 166
Net realized gain (loss) 250 26 570 1,283
Net change in unrealized gain (loss):        
Unrealized gain (loss) of investments     15,224 (871)
Foreign currency forward contracts (1,786) 1,948 (105) (1,211)
Foreign currency and other transactions (2,881) 0 (2,588) 0
Net change in unrealized gain (loss) 5,335 (720) 12,531 (2,082)
Net gain (loss) 5,585 (694) 13,101 (799)
Net increase (decrease) in net assets resulting from operations $ 58,183 $ 30,328 $ 152,900 $ 80,943
Per common share data:        
Net investment income per share - basic (in dollars per share) $ 0.30 $ 0.31 $ 0.91 $ 0.92
Net investment income per share - diluted (in dollars per share) 0.30 0.31 0.91 0.92
Net increase (decrease) in net assets resulting from operations per share - basic (in dollars per share) 0.34 0.30 0.99 0.92
Net increase (decrease) in net assets resulting from operations per share - diluted (in dollars per share) $ 0.34 $ 0.30 $ 0.99 $ 0.92
Weighted average common shares outstanding - basic (in shares) 172,614 100,971 154,300 88,407
Weighted average common shares outstanding - diluted (in shares) 172,614 100,971 154,300 88,407
Non-controlled/non-affiliate company investments        
Investment income:        
Interest income $ 104,063 $ 56,224 $ 274,335 $ 146,822
Payment-in-kind interest income 3,921 1,767 9,777 5,500
Dividend income 498 128 1,061 372
Other income 3,405 453 6,065 1,093
Total investment income 111,887 58,572 291,238 153,787
Net realized gain (loss):        
Non-controlled/non-affiliate company investments 495 38 719 (622)
Net change in unrealized gain (loss):        
Unrealized gain (loss) of investments 7,619 (3,977) 22,896 (2,902)
Non-controlled/affiliate company investments        
Investment income:        
Interest income 1,352 640 3,651 1,837
Payment-in-kind interest income 80 0 226 0
Other income       0
Total investment income 1,432 640 3,877 1,837
Net realized gain (loss):        
Non-controlled/non-affiliate company investments     0 0
Net change in unrealized gain (loss):        
Unrealized gain (loss) of investments $ 2,383 $ 1,309 $ (7,672) $ 2,031