XML 79 R60.htm IDEA: XBRL DOCUMENT v3.25.0.1
Fair Value of Investments - Schedule of Fair Value Hierarchy of Investments (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value $ 13,194,545 [1],[2],[3],[4] $ 12,713,348 [5],[6],[7],[8]
Interest rate swaps (38,241) $ (45,656)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]   Accrued Liabilities and Other Liabilities
First-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 9,974,880 $ 8,660,754
Second-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 706,800 1,774,984
Unsecured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 301,956 292,751
Preferred equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 371,744 433,297
Common equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 1,543,689 1,208,776
Levels 1, Level 2, and Level 3    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Cash (including restricted and foreign cash) 514,156 659,658
Total Investments at fair value 12,702,173 12,370,562
Levels 1, Level 2, and Level 3 | First-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 9,974,880 8,660,754
Levels 1, Level 2, and Level 3 | Second-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 706,800 1,774,984
Levels 1, Level 2, and Level 3 | Unsecured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 301,956 292,751
Levels 1, Level 2, and Level 3 | Preferred equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 371,744 433,297
Levels 1, Level 2, and Level 3 | Common equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 1,346,793 1,208,776
Level 1    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Cash (including restricted and foreign cash) 514,156 659,658
Total Investments at fair value 912 1,093
Interest rate swaps 0 0
Level 1 | First-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 0 0
Level 1 | Second-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 0 0
Level 1 | Unsecured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 0 0
Level 1 | Preferred equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 0 0
Level 1 | Common equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 912 1,093
Level 2    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Cash (including restricted and foreign cash) 0 0
Total Investments at fair value 134,000 111,508
Interest rate swaps (38,241) 0
Level 2 | First-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 87,260 0
Level 2 | Second-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 46,740 99,715
Level 2 | Unsecured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 0 11,793
Level 2 | Preferred equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 0 0
Level 2 | Common equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 0 0
Level 3    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Cash (including restricted and foreign cash) 0 0
Total Investments at fair value 12,567,261 12,257,961
Interest rate swaps 0 (45,656)
Level 3 | First-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 9,887,620 8,660,754
Level 3 | Second-lien senior secured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 660,060 1,675,269
Level 3 | Unsecured debt investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 301,956 280,958
Level 3 | Preferred equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 371,744 433,297
Level 3 | Common equity investments    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value 1,345,881 1,207,683
NAV    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Total Investments at fair value $ 492,372 $ 342,786
[1] Non-income producing.
[2] Unless otherwise indicated, all investments are considered Level 3 investments.
[3] Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility and CLOs. See Note 5 “Debt.”
[4] Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 27 for additional information on our restricted securities.
[5] Unless otherwise indicated, loan contains a variable rate structure and may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the Secured Overnight Financing Rate (“SOFR” or “S,” which can include one-, three- or six- month SOFR), Euro Interbank Offered Rate (“EURIBOR”), Great Britain Pound London Interbank Offered Rate (“GBPLIBOR” or “G”, which can include three- or six-month GBPLIBOR), SONIA (“SONIA” or “SA”) or an alternate base rate (which can include the Federal Funds Effective Rate or the Prime Rate), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.
[6] Unless otherwise indicated, all investments are considered Level 3 investments.
[7] Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility and CLOs. See Note 5 “Debt”.
[8] Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 26 for additional information on our restricted securities.