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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities          
Net increase (decrease) in net assets resulting from operations $ 29,310 $ 13,259 $ 58,488 $ 22,832  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Purchases of investments     (680,789) (394,469)  
Paid-in-kind interest     (2,555) (528)  
Proceeds from sales and repayments of investments     150,840 46,997  
Net realized (gain) loss on investments     254 (56)  
Net change in unrealized (appreciation) depreciation on investments     (10,858) (5,524)  
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts 356 6 504 6  
Accretion of discount     (1,987) (336)  
Amortization of deferred financing costs     755 474  
Unrealized (gain)/loss on borrowings in foreign currency     5,990 (211)  
(Increase) decrease in receivable for investments sold and repaid     (5,693) (6,899)  
(Increase) decrease in income receivable     (3,314) (3,436)  
(Increase) decrease in expense support receivable     0 436  
(Increase) decrease in prepaid expenses and other assets     (5,995) (140)  
Increase (decrease) in payable for investments purchased     1,145 83,705  
Increase (decrease) in organizational and offering costs payable     337 732  
Increase (decrease) in accrued capital gains incentive fee     498 725  
Increase (decrease) in administrative services expense payable     507 347  
Increase (decrease) in accrued accounting and administrative fees     65 10  
Increase (decrease) in interest payable     2,201 1,490  
Increase (decrease) in other accrued expenses and liabilities     349 (87)  
Net cash provided by (used in) operating activities     (489,258) (253,932)  
Cash flows from financing activities          
Issuance of common shares     294,997 140,304  
Repurchases of common shares     (547) 0  
Distributions to common shareholders     (44,678) (13,986)  
Distributions to preferred shareholders     0 (31)  
Borrowings under financing arrangements     486,859 215,752  
Repayments under financing arrangements     (214,620) (140,740)  
Deferred financing costs paid     (2,762) (431)  
Net cash provided by (used in) financing activities     519,249 200,868  
Total increase (decrease) in cash     29,991 (53,064)  
Cash and foreign currency at beginning of period     19,693 78,991 $ 78,991
Cash and foreign currency at end of period $ 49,684 $ 25,927 49,684 25,927 $ 19,693
Supplemental disclosure          
Reinvestment of shareholder distributions     10,031 203  
Federal and income taxes paid during the period     97 0  
Interest paid during the period     $ 10,799 $ 3,404