Financial Highlights and Senior Securities (Tables)

3 Months Ended

Mar. 31, 2024

The following are the financial highlights for the three months ended March 31, 2024 and 2023:


	Three Months Ended March 31,
	2024			2023
Per Share Data (1):
Net asset value, beginning of period	$	26.66		$	25.93
Net investment income	0.87			0.93
Net change in unrealized and realized gain (loss)	0.09			(0.06)
Net increase (decrease) in net assets resulting from operations	0.96			0.87
Distributions declared (2)	(0.77)			(0.70)
Net increase (decrease) in net assets from capital share transactions	0.02			—
Total increase (decrease) in net assets	0.21			0.17
Net asset value, end of period	$	26.87		$	26.10
Shares outstanding, end of period	191,874,419			160,571,371
Total return based on NAV (3)	3.4		%	3.4		%
Total return based on market value (4)	15.9		%	14.3		%
Ratios:
Ratio of net expenses to average net assets (5)	10.7		%	11.7		%
Ratio of net investment income to average net assets (5)	12.8		%	13.4		%
Portfolio turnover rate	1.8		%	1.1		%
Supplemental Data:
Net assets, end of period	$	5,155,665		$	4,190,496
Asset coverage ratio	197.3		%	176.4		%

(1)The per share data was derived by using the weighted average shares outstanding during the period.

(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 8).

(3)Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the Company's dividend reinvestment plan) divided by the beginning NAV per share. Total return does not include sales load.

(4)Total return based on market value is calculated as the change in market value per share during the respective periods, taking into account distributions, if any, reinvested in accordance with the Company’s dividend reinvestment plan.

(5)Amounts are annualized except for expense support amounts relating to organizational costs and management fee and income based incentive fee waivers by the Adviser (refer to Note 3). For the three months ended March 31, 2024 and 2023, the ratio of total operating expenses to average net assets was 10.7% and 11.9%, respectively, on an annualized basis, excluding the effect of expense support/(recoupment) and management fee and income based incentive fee waivers by the Adviser which represented 0.0% and (0.3)%, respectively, of average net assets. The Waiver Period ended on October 28, 2023.