Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Total Debt Outstanding and Available

Total debt outstanding and available at December 31, 2025 was as follows:

	Maturity	Rate			Carrying Value			Available		Total Capacity
Credit Facility	2033	SOFR+1.97%(1)			$	260,000,000		$	390,000,000	$	650,000,000
Revolving Credit Facility	2030	SOFR+1.88%(2)				50,970,583			314,029,417		365,000,000	(3)
SG Revolving Credit Facility	2027	SOFR+1.15%				200,000,000			—		200,000,000
Tranche A Notes	2027		7.14	%		70,000,000			—		70,000,000
Tranche B Notes	2030		7.33	%		55,000,000			—		55,000,000
Promissory Notes	2055		12.00	%		110,000			—		110,000
2025A Tranche B Notes	2030		6.14	%		150,000,000			—		150,000,000
2025A Tranche A Notes	2028		5.78	%		50,000,000			—		50,000,000
Total leverage					$	836,080,583			704,029,417		1,540,110,000
Unamortized issuance costs						(1,864,718	)
Debt, net of unamortized issuance costs					$	834,215,865

(1) The outstanding amount was subject to a SOFR credit adjustment of 0.20%.

(2) As of December 31, 2025, $20.0 million of the outstanding amount bore interest at a rate of EURIBOR + 1.88%. $31.0 million of the outstanding amount bore interest at a rate of CORRA + 1.88%, and was subject to a CORRA credit spread adjustment of 0.30%.

(3) Revolving Credit Facility includes an accordion provision to permit increases to a total facility amount of up to $600.0 million.

Total debt outstanding and available at December 31, 2024 was as follows:

	Maturity	Rate			Carrying Value			Available		Total Capacity
Credit Facility	2033	SOFR+1.97%			$	320,000,000		$	130,000,000	$	450,000,000
Revolving Credit Facility	2029	SOFR+2.00%				—			150,000,000		150,000,000
Tranche A Notes	2027		7.14	%		70,000,000			—		70,000,000
Total leverage						390,000,000		$	280,000,000	$	670,000,000
Unamortized issuance costs						(866,702	)
Debt, net of unamortized issuance costs					$	389,133,298

The combined

Schedule of Total Expenses Related to Debt

Total expenses related to debt included the following:

	For the Year Ended December 31,
	2025		2024		2023
Interest expense	$	39,879,848	$	14,390,928	$	7,725,732
Amortization of deferred debt issuance costs		1,333,663		438,149		193,554
Commitment fees		1,912,273		849,093		478,917
Total	$	43,125,784	$	15,678,170	$	8,398,203