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Debt (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Components of Interest Expense
For the three and six months ended June 30, 2025 and 2024 the components of interest expense were as follows:

(Amounts in thousands)Three Months Ended
June 30, 2025		Three Months
Ended
June 30,
2024		Six Months
Ended
June 30,
2025		Six Months
Ended
June 30,
2024
Interest expense$31,333 $18,314 $61,960 $32,369 
Amortization of deferred financing costs1,787 794 3,570 1,424 
(Gain) loss from interest rate swaps accounted for as hedges and related hedged items
Interest rate swaps(5,084)561 (13,695)1,334 
Hedged items4,569 12,723 
Total interest expense$32,605 $19,669 $64,558 $35,127 
Average interest rate6.73 %7.89 %6.77 %7.85 %
Average daily borrowings$1,705,966 $913,532 $1,707,548 $789,318 
Schedule of Secured Notes and Equity Interests in the CLO Transaction
The following table presents information on the secured notes and equity interests in the CLO Transaction:

As of June 30, 2025
(Amounts in thousands)Principal OutstandingInterest RateCredit Rating
Class A Senior Secured Floating Rate Notes$161,000
SOFR + 1.90%
AAA(sf)
Class A-L Senior Secured Floating Rate Loans$100,000
SOFR + 1.90%
AAA(sf)
Class B Senior Secured Floating Rate Notes$45,000
SOFR + 2.30%
AA(sf)
Class C Senior Secured Floating Rate Notes$36,000
SOFR + 2.95%
A(sf)
Class D Senior Secured Floating Rate Notes$27,000
SOFR + 4.95%
BBB(sf)
Equity Interests1
$76,000NoneNot Rated
Total CLO Transaction$445,000 
(1) Equity Interests were retained by the Company as of June 30, 2025.
Schedule of Debt
Total debt consisted of the following as of June 30, 2025:
As of June 30, 2025
(Amounts in thousands)Maximum Principal Amount
Committed		Principal Amount Outstanding
Principal Amount Available(1)
Carrying Value(2)
Assets Pledged as Collateral(3)
ASPV Credit Facility$500,000 $277,300 $46,102 $277,300 $503,212 
MSPV Credit Facility500,000 360,000 100,546 360,000 737,701 
Truist Credit Facility975,000 51,200 741,165 51,200 1,830,778 
Series A Tranche A Notes90,000 90,000 — 90,349 — 
Series A Tranche B Notes150,000 150,000 — 151,861 — 
Series B Tranche A Notes85,000 85,000 — 86,025 — 
Series B Tranche B Notes25,000 25,000 — 25,000 — 
Series B Tranche C Notes290,000 290,000 — 293,962 — 
 Series C Tranche A Notes25,000 25,000 — 25,176 — 
 Series C Tranche B Notes75,000 75,000 — 75,049 — 
CLO Transaction369,000 369,000 369,000 440,845 
Total$3,084,000 $1,797,500 $887,813 $1,804,922 $3,512,536 
(1)The amount available reflects any limitations related to the facilities borrowing bases.
(2)Carrying value is inclusive of adjustments for the change in fair value of the effective hedge relationship, if applicable.
(3)Fair market value of the assets held as collateral in the respective credit facility.

Total debt consisted of the following as of December 31, 2024:

As of December 31, 2024
(Amounts in thousands)Maximum Principal Amount
Committed		Principal Amount Outstanding
Principal Amount Available(1)
Carrying Value
Assets Pledged as Collateral(2)
ASPV Credit Facility$500,000 $251,300 $69,062 $251,300 $493,142 
MSPV Credit Facility500,000 191,400 101,922 191,400 505,122 
Truist Credit Facility975,000 299,600 546,860 299,600 1,639,675 
Series A Tranche A Notes90,000 90,000 — 89,732 — 
Series A Tranche B Notes150,000 150,000 — 148,799 — 
Series B Tranche A Notes85,000 85,000 — 84,330 — 
Series B Tranche B Notes25,000 25,000 — 25,000 — 
Series B Tranche C Notes290,000 290,000 — 286,838 — 
CLO Transaction369,000 369,000 — 369,000 442,629 
Total$2,984,000 $1,751,300 $717,844 $1,745,999 $3,080,569 
(1)The amount available reflects any limitations related to the facilities borrowing bases.
(2)Fair market value of the assets held as collateral in the respective credit facility.
Average debt outstanding and weighted average interest rates of outstanding debt for the three and six months ended June 30, 2025 and 2024 were as follows:
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Weighted Average Interest RateAverage Debt Outstanding (in thousands)Weighted Average Interest RateAverage Debt Outstanding (in thousands)
ASPV Credit Facility6.72%$295,252 8.19%$251,891 
MSPV Credit Facility6.41%$361,976 7.77%$200,502 
Truist Credit Facility7.09%$38,640 7.70%$192,451 
Series A Tranche A Notes7.69%$90,000 7.69%$90,000 
Series A Tranche B Notes7.78%$150,000 7.78%$150,000 
Series B Tranche A Notes6.42%$85,000 
Series B Tranche B Notes7.59%$25,000 
Series B Tranche C Notes6.52%$290,000 
 Series C Tranche A Notes6.05%$275 
 Series C Tranche B Notes6.40%$824 
CLO Transaction6.55%$369,000 7.57%$369,000 
 Total Weighted Average 6.73%$1,705,967 7.78%$1,253,844 

Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Weighted Average Interest RateAverage Debt Outstanding (in thousands)Weighted Average Interest RateAverage Debt Outstanding (in thousands)
ASPV Credit Facility6.73%$296,762 8.16%$222,353 
MSPV Credit Facility6.45%$336,326 7.81%$246,270 
Truist Credit Facility6.76%$64,907 7.65%$159,134 
Series A Tranche A Notes7.69%$90,000 7.69%$70,820 
Series A Tranche B Notes7.78%$150,000 7.78%$118,033 
Series B Tranche A Notes6.42%$85,000 
Series B Tranche B Notes7.59%$25,000 
Series B Tranche C Notes6.52%$290,000 
Series C Tranche A Notes6.05%$138 
Series C Tranche B Notes6.40%$414 
CLO Transaction6.67%$369,000 7.57%$369,000 
 Total Weighted Average 6.77%$1,707,547 7.77%$1,185,610