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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investment income      
Fee income $ 17,895 $ 11,694 $ 9,544
Total investment income 252,432 251,010 194,898
Operating expenses      
Management fees 27,321 26,856 27,361
Administrative services expense 4,783 3,971 3,348
Subordinated incentive fee on income 20,334 22,277 18,710
General and administrative 7,157 7,382 7,278
Interest expense 96,870 85,556 49,624
Total operating expenses 156,465 146,042 106,321
Net investment income before taxes 95,967 104,968 88,577
Income tax expense (benefit), including excise tax 107 (54) 372
Net investment income after taxes 95,860 105,022 88,205
Realized and unrealized (losses) gains      
Net realized losses on: (28,313) (31,927) (32,747)
Foreign currency 0 0 (3)
Net realized losses (28,313) (31,927) (32,750)
Net change in unrealized (depreciation) appreciation on investments (33,645) 22,219 (5,314)
Net realized and unrealized losses (61,958) (9,708) (38,064)
Net increase in net assets resulting from operations $ 33,902 $ 95,314 $ 50,141
Per share information—basic and diluted      
Net increase in net assets per share resulting from operations (in dollars per share) $ 0.63 $ 1.74 $ 0.89
Net investment income per share (in dollars per share) $ 1.79 $ 1.92 $ 1.56
Weighted average shares of common stock outstanding - basic (in shares) 53,564,788 54,685,327 56,556,510,000
Weighted average shares of common stock outstanding - diluted (in shares) 53,564,788 54,685,327 56,556,510,000
Non-controlled, non-affiliated investments      
Investment income      
Interest income $ 165,786 $ 184,013 $ 140,560
Paid-in-kind interest income 31,397 22,317 22,737
Fee income 9,865 7,871 9,019
Dividend income 5,855 210 103
Realized and unrealized (losses) gains      
Net realized losses on: (24,367) (31,927) (11,217)
Net change in unrealized (depreciation) appreciation on investments (8,218) 15,658 (19,807)
Non-controlled, affiliated investments      
Investment income      
Interest income 6,426 7,068 5,865
Paid-in-kind interest income 11,692 8,372 6,204
Fee income 3,648 2,432 525
Dividend income 411 3,946 79
Realized and unrealized (losses) gains      
Net realized losses on: (3,946) 0 (21,530)
Net realized losses (3,946) 0  
Net change in unrealized (depreciation) appreciation on investments 5,059 (7,335) 13,523
Controlled investments      
Investment income      
Interest income 12,970 8,090 6,049
Paid-in-kind interest income 0 1,050 2,482
Fee income 4,382 1,391 0
Dividend income 0 4,250 1,275
Realized and unrealized (losses) gains      
Net realized losses   0  
Net change in unrealized (depreciation) appreciation on investments $ (30,486) $ 13,896 $ 970