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Investments (Tables)
 12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
Schedule of Composition of the Company's Investment Portfolio
The following tables show the composition of the Company’s investment portfolio, at amortized cost and fair value (with corresponding percentage of total portfolio investments):
December 31, 2024December 31, 2023
Amortized Cost:
Senior secured loans$3,469,869 86.7 %$2,161,659 85.7 %
Unitranche secured loans148,567 3.7 185,177 7.3 
Junior secured loans200,802 5.0 94,550 3.8 
Equity securities183,547 4.6 81,678 3.2 
Total$4,002,785 100.0 %$2,523,064 100.0 %
December 31, 2024December 31, 2023
Fair Value:
Senior secured loans$3,491,117 87.1 %$2,171,243 85.9 %
Unitranche secured loans148,531 3.7 184,853 7.3 
Junior secured loans177,677 4.4 87,986 3.5 
Equity securities191,648 4.8 84,085 3.3 
Total$4,008,973 100.0 %$2,528,167 100.0 %
The following tables show the composition of the Company’s investment portfolio by geographic region, at amortized cost and fair value (with corresponding percentage of total portfolio investments). The geographic composition is determined by the location of the corporate headquarters of the portfolio company, which may not be indicative of the primary source of the portfolio company’s business:
December 31, 2024December 31, 2023
Amortized Cost:
United States:
Midwest$697,246 17.4 %$464,411 18.4 %
Northeast919,569 23.0 602,303 23.9 
Northwest81,085 2.0 72,401 2.9 
Southeast985,353 24.6 609,720 24.2 
Southwest489,467 12.2 303,643 12.0 
West643,709 16.1 354,469 14.0 
International186,356 4.7 116,117 4.6 
Total$4,002,785 100.0 %$2,523,064 100.0 %
December 31, 2024December 31, 2023
Fair Value:
United States:
Midwest$689,362 17.2 %$462,371 18.3 %
Northeast920,544 23.0 605,226 23.9 
Northwest83,285 2.1 73,706 2.9 
Southeast1,006,155 25.1 616,182 24.4 
Southwest494,694 12.3 303,605 12.0 
West636,530 15.9 355,000 14.1 
International178,403 4.4 112,077 4.4 
Total$4,008,973 100.0 %$2,528,167 100.0 %
The following tables show the composition of the Company’s investment portfolio by industry, at amortized cost and fair value (with corresponding percentage of total portfolio investments):
December 31, 2024December 31, 2023
Amortized Cost:
Aerospace & Defense$24,110 0.6 %$24,306 1.0 %
Automotive76,264 1.9 55,374 2.2 
Banking48,045 1.2 32,289 1.3 
Beverage, Food & Tobacco27,123 0.7 43,443 1.7 
Capital Equipment191,064 4.8 153,516 6.1 
Chemicals, Plastics & Rubber— — 738 
0.0 *
Construction & Building217,997 5.4 97,869 3.9 
Consumer Goods: Durable74,112 1.8 45,961 1.8 
Consumer Goods: Non-Durable51,050 1.3 49,303 2.0 
Containers, Packaging & Glass40,180 1.0 13,857 0.5 
Energy: Oil & Gas132 
0.0 *
20,128 0.8 
Environmental Industries66,543 1.7 35,805 1.4 
FIRE: Finance234,481 5.9 185,745 7.4 
FIRE: Insurance— — 23,848 0.9 
FIRE: Real Estate77,846 1.9 81,184 3.2 
Healthcare & Pharmaceuticals590,748 14.7 354,627 14.1 
High Tech Industries499,624 12.5 211,563 8.4 
Hotels, Gaming & Leisure95 
0.0 *
95 
0.0 *
Media: Advertising, Printing & Publishing195,966 4.9 145,910 5.8 
Media: Broadcasting & Subscription3,430 0.1 3,160 0.1 
Media: Diversified & Production112,124 2.8 93,581 3.7 
Retail14,570 0.4 — — 
Services: Business888,565 22.2 428,134 17.0 
Services: Consumer240,050 6.0 166,396 6.6 
Telecommunications103,312 2.6 73,705 2.9 
Transportation: Cargo173,308 4.3 107,107 4.2 
Utilities: Electric4,505 0.1 40,045 1.6 
Wholesale47,541 1.2 35,375 1.4 
Total$4,002,785 100.0 %$2,523,064 100.0 %
December 31, 2024December 31, 2023
Fair Value:
Aerospace & Defense$23,854 0.6 %$23,871 0.9 %
Automotive66,253 1.7 52,433 2.1 
Banking43,672 1.1 31,338 1.2 
Beverage, Food & Tobacco27,414 0.7 43,420 1.7 
Capital Equipment187,727 4.7 153,448 6.1 
Chemicals, Plastics & Rubber— — 555 
0.0 *
Construction & Building222,008 5.5 99,032 3.9 
Consumer Goods: Durable71,293 1.8 43,879 1.7 
Consumer Goods: Non-Durable48,784 1.2 47,767 1.9 
Containers, Packaging & Glass40,136 1.0 13,978 0.6 
Energy: Oil & Gas118 
0.0 *
19,939 0.8 
Environmental Industries68,253 1.7 36,964 1.5 
FIRE: Finance233,307 5.8 188,094 7.4 
FIRE: Insurance— — 23,624 0.9 
FIRE: Real Estate81,966 2.1 82,981 3.3 
Healthcare & Pharmaceuticals594,527 14.8 354,470 14.0 
High Tech Industries497,616 12.4 208,931 8.3 
Hotels, Gaming & Leisure123 
0.0 *
95 
0.0 *
Media: Advertising, Printing & Publishing197,904 4.9 148,571 5.9 
Media: Broadcasting & Subscription867 
0.0 *
1,663 0.1 
Media: Diversified & Production111,259 2.8 93,116 3.7 
Retail14,566 0.4 — — 
Services: Business901,082 22.5 434,280 17.2 
Services: Consumer240,488 6.0 167,734 6.6 
Telecommunications101,469 2.5 74,679 3.0 
Transportation: Cargo172,550 4.3 107,424 4.2 
Utilities: Electric13,764 0.3 40,039 1.6 
Wholesale47,973 1.2 35,842 1.4 
Total$4,008,973 100.0 %$2,528,167 100.0 %
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*Represents an amount less than 0.1%.