DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Consolidated Funds of Debt Obligations Outstanding

The consolidated funds had the following debt obligations outstanding:


	Outstanding Amount as of				Key terms as of September 30, 2025
Credit Agreement	September 30, 2025		December 31, 2024		Facility Capacity		Effective Interest Rate	Weighted Average Remaining Maturity (years)	Commitment Fee Rate	L/C Fee
Revolving credit facilities (1)	$	1,170,611	$	1,472,795	$	1,784,352	5.92%	0.76	0.25%	1.75%


Less: Debt issuance costs	(4,029)		(2,685)
Total debt obligations, net (2)	$	1,166,582	$	1,470,110

(1) The credit facility capacity is calculated on a pro rata basis using fund commitments as of September 30, 2025.

(2) Debt issuance costs are included in other assets as of September 30, 2025 and December 31, 2024.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details