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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net increase (decrease) in net assets resulting from operations $ 215,564 $ 231,014 $ 48,542
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net unrealized (appreciation) depreciation on investments (11,904) (32,835) 80,005
Net unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies 108 0 0
Net unrealized (appreciation) depreciation on interest rate swap attributed to unsecured notes 10 0 0
Net realized (gain) loss on investments 16,480 (118) (537)
Net realized (gain) loss on foreign currency and other transactions (13) 0 0
Net accretion of discount and amortization of premium on investments (14,866) (11,314) (11,418)
Payment-in-kind interest and dividend capitalized (13,073) (6,069) (2,714)
Amortization of deferred financing costs 3,726 3,249 3,735
Amortization of debt issuance costs and original issuance discount on unsecured notes 3,853 2,548 1,551
Purchases of investments and change in payable for investments purchased (1,232,200) (632,097) (945,209)
Proceeds from sale of investments and principal repayments and change in receivable for investments sold/repaid 657,194 362,493 393,780
Changes in operating assets and liabilities:      
(Increase) decrease in interest and dividend receivable from non-controlled/non-affiliated investments (1,670) (7,973) (9,171)
(Increase) decrease in prepaid expenses and other assets (132) (13) 228
(Decrease) increase in payable to affiliates (2,841) 784 (2,345)
(Decrease) increase in management fees payable 5,030 229 477
(Decrease) increase in incentive fees payable (2,810) 3,648 (541)
(Decrease) increase in interest payable 2,382 1,804 13,738
(Decrease) increase in accrued expenses and other liabilities 1,626 826 44
Net cash provided by (used in) operating activities (373,536) (83,824) (429,835)
Cash flows from financing activities:      
Borrowings on debt 1,189,469 408,000 1,566,175
Repayments on debt (712,000) (438,000) (1,284,850)
Deferred financing costs paid (5,907) (9,942) (4,006)
Debt issuance costs paid (4,114) 0 (9,259)
Dividends paid in cash (169,083) (110,497) (85,748)
Proceeds from issuance of common stock, net of underwriting & offering costs 95,888 222,753 254,585
Repurchases of common stock (18,062) 0 0
Net cash provided by (used in) financing activities 376,191 72,314 436,897
Net increase (decrease) in cash, cash equivalents and restricted cash 2,655 (11,510) 7,062
Effect of foreign exchange rate changes on cash 12 0 0
Cash, cash equivalents and restricted cash, beginning of period 69,705 81,215 74,153
Cash, cash equivalents and restricted cash, end of period 72,372 69,705 81,215
Supplemental information and non-cash activities:      
Excise tax paid 1,516 361 57
Interest expense paid 112,955 105,282 48,565
Reinvestment of dividends 23,385 41,885 30,322
Dividends payable 53,229 49,968 33,058
Non-cash purchases of investments (24,930) 0 0
Non-cash sales of investments 24,930 0 0
Subscriptions receivable $ 0 $ 41 $ 2,556