Quarterly report [Sections 13 or 15(d)]

FAIR VALUE HIERARCHY FOR INVESTMENTS???PORTFOLIO COMPOSITION - Schedule of Investments (Details)

v3.25.1
FAIR VALUE HIERARCHY FOR INVESTMENTS—PORTFOLIO COMPOSITION - Schedule of Investments (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
USD ($)
company
Dec. 31, 2024
USD ($)
company
Summary of Investment Holdings [Line Items]    
Fair value $ 5,054,139 [1],[2],[3] $ 4,932,669 [4],[5]
Cost $ 4,295,736 [1],[3],[6] $ 4,237,312 [4],[5]
Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 100.00% 100.00%
Investment Owned, At Cost | Investment Type Concentration Risk | Non-accrual Status    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 4.50% 3.50%
Equity | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 17.20% 16.40%
First lien debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 82.20% 82.90%
LMM portfolio investments    
Summary of Investment Holdings [Line Items]    
Number of portfolio companies | company 86 84
Fair value $ 2,611,000 $ 2,502,900
Cost $ 1,996,200 $ 1,937,800
Weighted-average annual effective yield (as a percent) 12.70% 12.80%
Average EBITDA $ 10,500 $ 10,200
Diluted equity ownership (as a percent) 39.00% 38.00%
Investment company, number of companies within portfolio excluded from EBITDA calculation | company 6 5
LMM portfolio investments | Non-accrual Status    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield (as a percent) 12.10% 12.30%
LMM portfolio investments | Debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 70.70% 70.80%
LMM portfolio investments | Equity | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 29.30% 29.20%
LMM portfolio investments | First lien debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 99.20% 99.20%
Private Loan portfolio investments    
Summary of Investment Holdings [Line Items]    
Number of portfolio companies | company 90 91
Fair value $ 1,942,200 $ 1,904,300
Cost $ 1,986,000 $ 1,952,500
Weighted-average annual effective yield (as a percent) 11.40% 11.80%
Average EBITDA $ 32,600 $ 30,500
Investment company, number of companies within portfolio excluded from EBITDA calculation | company 7 5
Private Loan portfolio investments | Non-accrual Status    
Summary of Investment Holdings [Line Items]    
Weighted-average annual effective yield (as a percent) 10.80% 11.50%
Private Loan portfolio investments | Debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 94.70% 95.40%
Private Loan portfolio investments | Equity | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 5.30% 4.60%
Private Loan portfolio investments | First lien debt | Investment Owned, At Cost | Investment Type Concentration Risk    
Summary of Investment Holdings [Line Items]    
Concentration risk (as a percent) 99.90% 99.90%
[1] All portfolio company headquarters are based in the United States, unless otherwise noted.
[2] Investment fair value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments —Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
[3] All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Company’s Corporate Facility or SPV Facility (each as defined in Note B.5. — Summary of Significant Accounting Policies —Deferred Financing Costs, and together the “Credit Facilities”) or in support of the SBA-guaranteed debentures issued by the Funds.
[4] All portfolio company headquarters are based in the United States, unless otherwise noted.
[5] All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Company’s Corporate Facility or SPV Facility (each as defined in Note B.5. — Summary of Significant Accounting Policies —Deferred Financing Costs, and together the “Credit Facilities”) or in support of the SBA-guaranteed debentures issued by the Funds.
[6] Principal is net of repayments. Cost is net of repayments and accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.