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v3.25.1

Fair Value of Financial Instruments - Schedule of Changes in Level 3 Portfolio Investments Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Total |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | $ 1,799,726 | $ 1,814,161
Investments purchased | 98,284 | 153,023
Accretion of discount | 1,796 | 11,665
Sales and principal repayments | (66,310) | (238,664)
Net transfers in and/or (out) of Level 3 | (956) |
Ending balance | 1,770,543 | 1,719,718
Change in net unrealized depreciation appreciation on investments | (64,089) | (12,629)
Total | Debt and Equity Securities, Realized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 2,294 | (9,736)
Total | Debt and Equity Securities, Unrealized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (64,291) | (10,731)
Senior Secured First Lien Debt |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 1,563,256 | 1,565,171
Investments purchased | 90,437 | 128,110
Accretion of discount | 1,792 | 11,573
Sales and principal repayments | (66,310) | (223,684)
Net transfers in and/or (out) of Level 3 | 0 |
Ending balance | 1,556,067 | 1,465,051
Change in net unrealized depreciation appreciation on investments | (35,731) | (3,822)
Senior Secured First Lien Debt | Debt and Equity Securities, Realized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 2,825 | (2,011)
Senior Secured First Lien Debt | Debt and Equity Securities, Unrealized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (35,933) | (14,108)
Senior Secured Second Lien Debt |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 2,680 | 29,111
Investments purchased | 69 | 60
Accretion of discount | 4 | 53
Sales and principal repayments | 0 | (1,481)
Net transfers in and/or (out) of Level 3 | 0 |
Ending balance | 2,593 | 28,460
Change in net unrealized depreciation appreciation on investments | (160) | 714
Senior Secured Second Lien Debt | Debt and Equity Securities, Realized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 0 | (11,809)
Senior Secured Second Lien Debt | Debt and Equity Securities, Unrealized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (160) | 12,526
Collateralized securities and structured products - equity |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 2,682 | 1,096
Investments purchased | 979 | 0
Accretion of discount | 0 | 0
Sales and principal repayments | 0 | (64)
Net transfers in and/or (out) of Level 3 | 0 |
Ending balance | 3,612 | 1,004
Change in net unrealized depreciation appreciation on investments | (49) | (15)
Collateralized securities and structured products - equity | Debt and Equity Securities, Realized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 0 | (1,210)
Collateralized securities and structured products - equity | Debt and Equity Securities, Unrealized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (49) | 1,182
Unsecured debt |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 11,814 | 12,874
Investments purchased | 44 | 1,421
Accretion of discount | 0 | 39
Sales and principal repayments | 0 | (8,872)
Net transfers in and/or (out) of Level 3 | 0 |
Ending balance | 12,278 | 5,506
Change in net unrealized depreciation appreciation on investments | 420 | (50)
Unsecured debt | Debt and Equity Securities, Realized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 0 | 0
Unsecured debt | Debt and Equity Securities, Unrealized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 420 | 44
Equity |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 219,294 | 205,909
Investments purchased | 6,755 | 23,432
Accretion of discount | 0 | 0
Sales and principal repayments | 0 | (4,563)
Net transfers in and/or (out) of Level 3 | (956) |
Ending balance | 195,993 | 219,697
Change in net unrealized depreciation appreciation on investments | (28,569) | (9,456)
Equity | Debt and Equity Securities, Realized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (531) | 5,294
Equity | Debt and Equity Securities, Unrealized Gain (Loss) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | $ (28,569) | $ (10,375)

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