Investments at Fair Value (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Investments at Fair Value

Investments at fair value consisted of the following at March 31, 2025 and December 31, 2024:

	March 31, 2025
	Amortized Cost (1)		Fair Value		Net Unrealized Gain (Loss)
First-lien debt investments	$	6,720,350	$	6,864,996	$	144,646
Second-lien debt investments		109,967		122,039		12,072
Mezzanine debt investments		198,507		204,815		6,308
Equity and other investments		143,423		164,182		20,759
Total Investments	$	7,172,247	$	7,356,032	$	183,785

	December 31, 2024
	Amortized Cost (1)		Fair Value		Net Unrealized Gain (Loss)
First-lien debt investments	$	6,732,065	$	6,871,809	$	139,744
Second-lien debt investments		89,461		94,778		5,317
Mezzanine debt investments		118,441		123,184		4,743
Equity and other investments		140,027		154,511		14,484
Total Investments	$	7,079,994	$	7,244,282	$	164,288

(1)The amortized cost represents the original cost adjusted for the amortization of discounts or premiums, as applicable, on debt investments using the effective interest method.

Summary of Industry Composition of Investments at Fair Value

The industry composition of investments at fair value at March 31, 2025 and December 31, 2024:

	March 31, 2025			December 31, 2024
Automotive		4.2	%		4.0	%
Business Services		20.0	%		18.7	%
Chemicals		0.5	%		0.5	%
Communications		4.7	%		6.4	%
Education		4.7	%		5.2	%
Electronics		3.1	%		3.1	%
Financial Services		4.8	%		6.5	%
Healthcare		2.6	%		2.5	%
Hotel, Gaming and Leisure		6.4	%		7.4	%
Human Resource Support Services		4.2	%		3.9	%
Insurance		0.9	%		0.9	%
Internet Services		7.2	%		7.2	%
Manufacturing		7.3	%		8.0	%
Oil, Gas and Consumable Fuels		3.3	%		2.9	%
Other		6.5	%		3.4	%
Pharmaceuticals		8.1	%		8.7	%
Real Estate (1)		0.0	%		0.0	%
Retail and Consumer Products		9.6	%		9.5	%
Transportation		1.9	%		1.2	%
Total		100.0	%		100.0	%

(1)Value rounds to less than 0.1%

Summary of Geographic Composition of Investments at Fair Value

The geographic composition of investments at fair value at March 31, 2025 and December 31, 2024:

	March 31, 2025			December 31, 2024
United States
Midwest		18.6	%		18.0	%
Northeast		15.1	%		17.3	%
South		16.2	%		14.2	%
West		25.2	%		26.8	%
Canada (1)		0.0	%		2.3	%
Finland (1)		0.0	%		0.0	%
France		3.8	%		1.8	%
Germany		0.6	%		0.6	%
Italy		2.3	%		2.4	%
Netherlands		0.2	%		0.2	%
Norway		5.6	%		5.5	%
Sweden		0.2	%		0.1	%
United Kingdom		12.2	%		10.8	%
Total		100.0	%		100.0	%

(1)Value rounds to less than 0.1%