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Fair Value of Investments - Schedule of Changes in the Fair Value of Investments (Details) - Level 3 - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2026 | Mar. 31, 2025
Total |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | $ 15,572,144 | $ 12,567,261
Purchases of investments, net | 364,416 | 833,968
Payment-in-kind | 42,610 | 53,266
Proceeds from investments, net | (1,496,729) | (533,969)
Net amortization/accretion of discount/premium on investments | 17,721 | 17,794
Transfers between investment types | 0 |
Transfers into (out of) Level 3 | 8,875 | (18,611)
Transfers in from the OBDE Mergers |  | 3,997,087
Fair value, end of period | 14,349,099 | 16,995,613
Total | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (76,676) | 193,195
Total | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (83,262) | (114,378)
First-lien senior secured debt investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | 12,009,907 | 9,796,885
Purchases of investments, net | 348,644 | 723,797
Payment-in-kind | 16,348 | 24,688
Proceeds from investments, net | (1,286,957) | (504,586)
Net amortization/accretion of discount/premium on investments | 15,923 | 16,065
Transfers between investment types | (158) |
Transfers into (out of) Level 3 | 8,875 | (25,266)
Transfers in from the OBDE Mergers |  | 3,450,900
Fair value, end of period | 11,003,920 | 13,534,635
First-lien senior secured debt investments | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (53,257) | 63,107
First-lien senior secured debt investments | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (55,405) | (10,955)
Second-lien senior secured debt investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | 801,281 | 660,060
Purchases of investments, net | 0 | 0
Payment-in-kind | 2,017 | 6,529
Proceeds from investments, net | (16,723) | (6,468)
Net amortization/accretion of discount/premium on investments | 1,143 | 967
Transfers between investment types | 0 |
Transfers into (out of) Level 3 | 0 | 9,746
Transfers in from the OBDE Mergers |  | 177,535
Fair value, end of period | 730,176 | 846,978
Second-lien senior secured debt investments | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (57,687) | 101,400
Second-lien senior secured debt investments | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | 145 | (102,791)
Unsecured debt investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | 399,962 | 301,956
Purchases of investments, net | 0 | 0
Payment-in-kind | 11,633 | 12,551
Proceeds from investments, net | (39,358) | (9,485)
Net amortization/accretion of discount/premium on investments | 92 | 115
Transfers between investment types | 0 |
Transfers into (out of) Level 3 | 0 | 0
Transfers in from the OBDE Mergers |  | 66,164
Fair value, end of period | 369,374 | 377,711
Unsecured debt investments | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (5,211) | 8,263
Unsecured debt investments | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | 2,256 | (1,853)
Specialty Finance Debt Investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | 157,297 | 90,735
Purchases of investments, net | 0 | 15,780
Payment-in-kind | 2,586 | 14
Proceeds from investments, net | (285) | 0
Net amortization/accretion of discount/premium on investments | 11 | 6
Transfers between investment types | 0 |
Transfers into (out of) Level 3 | 0 | 0
Transfers in from the OBDE Mergers |  | 14,779
Fair value, end of period | 159,598 | 121,603
Specialty Finance Debt Investments | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (11) | 289
Specialty Finance Debt Investments | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | 0 | 0
Preferred equity investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | 568,977 | 366,973
Purchases of investments, net | 976 | 44,022
Payment-in-kind | 9,748 | 9,227
Proceeds from investments, net | (36,550) | (10,376)
Net amortization/accretion of discount/premium on investments | 552 | 641
Transfers between investment types | 0 |
Transfers into (out of) Level 3 | 0 | 0
Transfers in from the OBDE Mergers |  | 128,882
Fair value, end of period | 536,853 | 543,191
Preferred equity investments | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | 13,127 | 3,719
Preferred equity investments | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (19,977) | 103
Common equity investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | 520,542 | 550,886
Purchases of investments, net | 12,068 | 0
Payment-in-kind | 278 | 257
Proceeds from investments, net | (15,799) | 0
Net amortization/accretion of discount/premium on investments | 0 | 0
Transfers between investment types | 158 |
Transfers into (out of) Level 3 | 0 | (3,091)
Transfers in from the OBDE Mergers |  | 83,590
Fair value, end of period | 537,854 | 634,300
Common equity investments | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | 30,888 | 2,658
Common equity investments | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (10,281) | 0
Specialty finance |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Fair value, beginning of period | 1,114,178 | 799,766
Purchases of investments, net | 2,728 | 50,369
Payment-in-kind | 0 | 0
Proceeds from investments, net | (101,057) | (3,054)
Net amortization/accretion of discount/premium on investments | 0 | 0
Transfers between investment types | 0 |
Transfers into (out of) Level 3 | 0 | 0
Transfers in from the OBDE Mergers |  | 75,237
Fair value, end of period | 1,011,324 | 937,195
Specialty finance | Net change in unrealized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | (4,525) | 13,759
Specialty finance | Net realized gain (loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Net change in unrealized gain (loss) / realized gains (losses) | $ 0 | $ 1,118

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