Revenue

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The following table represents the Company’s revenue disaggregated by fee type for the periods presented below:

	For the Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2025		September 30, 2024		September 30, 2025		September 30, 2024
Management/advisory fees	$	51,680	$	48,101	$	145,692	$	136,436
Incentive fees	2,435		88		2,985		304
Distributions from investments	3,081		3,562		17,955		9,972
Other fees/income	42		58		69		207
Total Income	$	57,238	$	51,809	$	166,701	$	146,919

(Dollars in Thousands)	As of September 30, 2025		As of December 31, 2024
Management/advisory fees receivable
Beginning balance	$	28,896	$	26,802
Ending balance (1)	34,745		28,896
Incentive fees receivable
Beginning balance	$	1,324	$	40,356
Ending balance (2)	2,992		1,324
Other fees/income receivable
Beginning balance	$	—	$	—
Ending balance	—		—
Deferred management/advisory fees
Beginning balance	$	—	$	—
Ending balance	(181)		—
Deferred other fees/income
Beginning balance	$	—	$	—
Ending balance	—		—

(1) As of September 30, 2025 and December 31, 2024, this amount includes $0.5 million and $0.7 million, respectively, in Management/advisory fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.

(2) As of September 30, 2025 and December 31, 2024, this amount includes $1.3 million and $0.2 million, respectively, in Incentive fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.