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Revenue (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table represents the Company’s revenue disaggregated by fee type for the periods presented below:
For the Year Ended
(Dollars in Thousands)December 31, 2024December 31, 2023December 31, 2022 (Predecessor)
Management/advisory fees$190,455 $180,861 $76,872 
Incentive fees3,256 43,377 — 
Distributions from investments12,304 17,185 — 
Other fees/income920 5,494 — 
Total Income$206,935 $246,917 $76,872 
Schedule of Contract with Customer
(Dollars in Thousands)As of December 31, 2024
As of December 31, 2023
Management/advisory fees receivable
Beginning balance$29,539 $30,698 
Ending balance (1)
32,194 29,539 
Incentive fees receivable
Beginning balance$40,356 $7,570 
Ending balance (2)
1,324 40,356 
Other fees/income receivable
Beginning balance$526 $4,112 
Ending balance98 526 
Deferred management/advisory fees
Beginning balance$(66)$(945)
Ending balance(1)(66)
Deferred other fees/income
Beginning balance$— $(422)
Ending balance— — 
(1) As of December 31, 2024 and December 31, 2023, this amount includes $0.7 million and $1.2 million, respectively, in Management/advisory fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.
(2) As of December 31, 2024 and December 31, 2023, this amount includes $0.2 million and $14.9 million, respectively, in Incentive fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.