XML 64 R51.htm IDEA: XBRL DOCUMENT v3.24.3
Fair Value of Financial Instruments - Schedule of Quantitative Information About Significant Unobservable Inputs of Level 3 Investments (Details)
$ in Thousands
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 5,083,969 $ 3,807,639
First-lien senior secured debt investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 4,355,248 3,068,392
Second-lien senior secured debt investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 156,068 186,796
Unsecured debt investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 111,413 73,823
Preferred equity investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 306,747 370,458
Common equity investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 152,306 108,170
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 4,730,180 3,617,508
Level 3 | First-lien senior secured debt investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 4,070,139 2,898,716
Level 3 | First-lien senior secured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 356,498 423,672
Level 3 | First-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 3,713,641 2,475,044
Level 3 | Second-lien senior secured debt investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 89,575 186,796
Level 3 | Second-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 89,575 186,796
Level 3 | Unsecured debt investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 111,413 53,368
Level 3 | Unsecured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 3,029 1,700
Level 3 | Unsecured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 108,384 51,668
Level 3 | Preferred equity investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 306,747 370,458
Level 3 | Preferred equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 22,098 109,877
Level 3 | Preferred equity investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 223,692 199,839
Level 3 | Preferred equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 6,878  
Level 3 | Preferred equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 54,079 60,742
Level 3 | Common equity investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 152,306 108,170
Level 3 | Common equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value   58,201
Level 3 | Common equity investments | Market Approach    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 10,882  
Level 3 | Common equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 24,611 17,724
Level 3 | Common equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 35,839 $ 32,245
Level 3 | Common equity investments | Market Approach | AUM Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 79,219  
Level 3 | Common equity investments | Discounted Cash Flow Analysis | Discount Rate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,608  
Level 3 | Common equity investments | Option Pricing Model | Volatility    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 147  
Level 3 | Minimum | First-lien senior secured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.980 0.970
Level 3 | Minimum | First-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.066 0.082
Level 3 | Minimum | Second-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.157 0.114
Level 3 | Minimum | Unsecured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.000 1.000
Level 3 | Minimum | Unsecured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.091 0.106
Level 3 | Minimum | Preferred equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.814 0.980
Level 3 | Minimum | Preferred equity investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.102 0.104
Level 3 | Minimum | Preferred equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 8.4  
Level 3 | Minimum | Preferred equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 8.0 8.5
Level 3 | Minimum | Common equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average)   1.000
Level 3 | Minimum | Common equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 8.2 9.1
Level 3 | Minimum | Common equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 6.3 6.3
Level 3 | Minimum | Common equity investments | Market Approach | AUM Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.1  
Level 3 | Minimum | Common equity investments | Discounted Cash Flow Analysis | Discount Rate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.300  
Level 3 | Minimum | Common equity investments | Option Pricing Model | Volatility    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.700  
Level 3 | Maximum | First-lien senior secured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.000 0.993
Level 3 | Maximum | First-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.168 0.171
Level 3 | Maximum | Second-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.159 0.177
Level 3 | Maximum | Unsecured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.000 1.000
Level 3 | Maximum | Unsecured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.144 0.106
Level 3 | Maximum | Preferred equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.000 1.075
Level 3 | Maximum | Preferred equity investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.215 0.200
Level 3 | Maximum | Preferred equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 8.4  
Level 3 | Maximum | Preferred equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 21.0 21.5
Level 3 | Maximum | Common equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average)   1.000
Level 3 | Maximum | Common equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 30.5 34.5
Level 3 | Maximum | Common equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 13.5 14.7
Level 3 | Maximum | Common equity investments | Market Approach | AUM Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.1  
Level 3 | Maximum | Common equity investments | Discounted Cash Flow Analysis | Discount Rate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.300  
Level 3 | Maximum | Common equity investments | Option Pricing Model | Volatility    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.700  
Level 3 | Weighted Average | First-lien senior secured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.990 0.986
Level 3 | Weighted Average | First-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.101 0.120
Level 3 | Weighted Average | Second-lien senior secured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.158 0.153
Level 3 | Weighted Average | Unsecured debt investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.000 1.000
Level 3 | Weighted Average | Unsecured debt investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.106 0.106
Level 3 | Weighted Average | Preferred equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.932 1.069
Level 3 | Weighted Average | Preferred equity investments | Yield Analysis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.151 0.152
Level 3 | Weighted Average | Preferred equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 8.4  
Level 3 | Weighted Average | Preferred equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 12.0 14.6
Level 3 | Weighted Average | Common equity investments | Recent Transaction    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average)   1.000
Level 3 | Weighted Average | Common equity investments | Market Approach | EBITDA Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 11.5 12.5
Level 3 | Weighted Average | Common equity investments | Market Approach | Revenue Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 10.1 11.2
Level 3 | Weighted Average | Common equity investments | Market Approach | AUM Multiple    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 1.1  
Level 3 | Weighted Average | Common equity investments | Discounted Cash Flow Analysis | Discount Rate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.300  
Level 3 | Weighted Average | Common equity investments | Option Pricing Model | Volatility    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (Weighted Average) 0.700