| Document And Entity Information | 6 Months Ended |
| Sep. 30, 2024 | |
| Document Information [Line Items] | |
| Entity Registrant Name | Cliffwater Corporate Lending Fund |
| Document Type | N-CSRS |
| Amendment Flag | false |
| Entity Central Index Key | 0001735964 |
| Document Period End Date | Sep. 30, 2024 |
| N-2 - USD ($) | 6 Months Ended | ||||||||
| Sep. 30, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | [1] | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | [2] | |
| Cover [Abstract] | |||||||||
| Entity Central Index Key | 0001735964 | ||||||||
| Amendment Flag | false | ||||||||
| Document Type | N-CSRS | ||||||||
| Entity Registrant Name | Cliffwater Corporate Lending Fund | ||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities [Table Text Block] | Supplemental Expense For the (Unaudited) For the March 31, For the March 31, For the March 31, For the December 31, For the December 31, For the December 31, Ratio of expenses to average net assets (excluding interest expense) 7 : Deferred tax expense 8 0.02 % 6 0.01 % 0.01 % — % — % — % — % 6 With fees waived, after taxes 1.31 % 6 1.21 % 1.24 % 1.28 % 6 1.32 % 1.80 % 1.78 % 6 Senior Securities Total Amount Outstanding Reverse Repurchase Agreements $ — $ 4,320,000 $ 3,870,000 $ 6,255,000 $ 6,833,000 $ 12,557,000 $ 6,034,000 Secured Borrowings — — — 204,168,415 249,990,230 — — Senior Credit Facility 767,500,000 1,175,000,000 932,000,000 607,000,000 1,195,000,000 190,000,000 — Senior Notes 4,895,000,000 3,225,000,000 1,865,000,000 650,000,000 — — — Asset Coverage Per $1,000 of Borrowings Reverse Repurchase Agreements — 4,138,255 2,863,249 1,078,983 693,179 60,321 45,504 Secured Borrowings — — — 34,026 19,919 — — Senior Credit Facility 30,699 16,211 12,885 12,108 4,958 4,916 — Senior Notes 5,669 6,517 6,920 11,376 — — — Senior Notes (the “Notes”) On March 29, 2022, the Fund issued Series A Senior Secured Notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $650 million, maturing on March 28, 2027. On June 7, 2022, the Fund issued additional Series A notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $250 million, maturing on March 28, 2027. On July 22, 2022, the Fund issued Series B, Series C, Series E and Series F notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $635 million with various maturities. On September 29, 2022, the Fund issued Series D and Series G notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $50 million with various maturities. On December 6, 2022, the Fund issued Series H, Series I and Series J notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $270 million with various maturities. On January 5, 2023, the Fund issued additional Series I notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $10 million maturing on December 6, 2027. On August 4, 2023, the Fund issued Series K, Series L, Series M and Series N notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $600 million with various maturities. On December 19, 2023, the Fund issued additional Series O, Series P, Series Q, Series R, and Series S notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $733 million with various maturities. On January 20, 2024, the Fund issued additional Series O Senior Secured Notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $27 million, maturing on January 20, 2027. On March 18, 2024, the Fund issued additional Series T notes for a private placement to qualified institutional purchasers in the aggregate principal amount of $300 million, maturing on April 12, 2029. On August 15, 2024, the Fund issued additional Series U, Series V, Series W, Series X and Series Y notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $1,370 million with various maturities. The obligations of the Fund and each of the Guarantors under the Facility and the Notes are secured by a first -priority In connection with the Notes, the Fund entered into interest rate swaps to more closely align the interest rates of its liabilities with its investment portfolio, which consists of predominately floating rate loans. Under the interest rate swap agreements, the Fund receives a fixed interest rate and pays a floating interest rate of daily simple SOFR plus various spreads as disclosed on the Consolidated Schedule of Swap Contracts on notional amounts equal to the principal outstanding of the Notes. The Fund designated the interest rate swaps as the hedging instruments in effective hedge accounting relationships. See Notes 10 and 11 for more information regarding the interest rate swaps. The table below sets forth a summary of the key terms of the series of Notes outstanding at September 30, 2024. Series Principal Payment Unamortized Interest Rate Carrying Fair Value Fixed Effective Maturity Date A $ 650,000,000 Semi-Annual $ 45,671 $ 11,773,551 $ 638,180,778 $ 628,135,161 4.10% 5.89% March 28, 2027 A 250,000,000 Semi-Annual 16,739 1,276,286 248,706,975 241,590,446 4.10% 5.50% March 28, 2027 B 215,000,000 Semi-Annual 349,994 2,158,793 212,491,213 214,357,606 5.44% 7.09% July 19, 2025 C 130,000,000 Semi-Annual 351,319 1,343,872 128,304,809 129,991,892 5.50% 7.24% July 19, 2026 D 10,000,000 Semi-Annual 27,020 99,864 9,873,116 9,999,376 5.50% 7.42% July 19, 2026 E 130,000,000 Semi-Annual 432,990 1,560,510 128,006,500 130,221,608 5.61% 7.43% July 19, 2027 F 160,000,000 Semi-Annual 645,557 2,920,563 156,433,880 160,405,253 5.72% 7.61% July 19, 2029 G 40,000,000 Semi-Annual 161,393 722,466 39,116,141 40,101,313 5.72% 7.80% July 19, 2029 H 34,000,000 Semi-Annual 124,900 (222,628 ) 34,097,728 34,542,948 7.06% 8.14% December 6, 2025 I 95,000,000 Semi-Annual 885,978 (1,994,011 ) 96,108,033 99,234,128 7.10% 8.50% December 6, 2027 I 10,000,000 Semi-Annual 55,994 (208,377 ) 10,152,383 10,445,698 7.10% 8.39% December 6, 2027 J 141,000,000 Semi-Annual 1,624,999 (4,065,779 ) 143,440,780 150,364,929 7.17% 8.65% December 6, 2029 K 115,200,000 Semi-Annual 597,747 (1,226,263 ) 115,828,516 117,926,937 6.75% 8.25% August 4, 2026 L 304,800,000 Semi-Annual 1,975,245 (4,542,568 ) 307,367,323 317,447,956 6.77% 8.55% August 4, 2028 M 114,000,000 Semi-Annual 801,616 (1,468,008 ) 114,666,392 120,244,532 6.81% 8.73% August 4, 2030 N 66,000,000 Semi-Annual 491,376 (497,683 ) 66,006,307 71,006,194 6.99% 8.98% August 4, 2033 O 85,000,000 Semi-Annual 514,017 (1,669,838 ) 86,155,821 88,131,901 7.04% 8.40% January 20, 2027 O 27,000,000 Semi-Annual 16,769 (509,340 ) 27,492,571 27,994,839 7.04% 8.28% January 20, 2027 P 224,000,000 Semi-Annual 1,534,762 (6,734,699 ) 229,199,937 236,730,981 7.06% 8.52% January 20, 2029 Q 155,000,000 Semi-Annual 1,116,218 (6,252,173 ) 160,135,955 167,343,046 7.23% 8.72% January 20, 2031 R 224,000,000 Semi-Annual 1,672,444 (11,903,955 ) 234,231,511 247,919,427 7.40% 8.87% January 20, 2034 S 45,000,000 Semi-Annual 340,642 (2,920,012 ) 47,579,370 50,940,041 7.51% 8.93% January 20, 2036 T 150,000,000 Semi-Annual 1,080,551 (4,761,733 ) 153,681,182 156,833,475 6.69% 8.17% April 12, 2029 T 150,000,000 Semi-Annual 1,080,551 (4,453,515 ) 153,372,964 156,833,475 6.69% 8.29% April 12, 2029 U 268,000,000 Semi-Annual 41,886 (5,852,095 ) 273,810,209 274,753,347 6.20% 7.47% August 15, 2027 V 486,000,000 Semi-Annual 77,292 (15,658,290 ) 501,580,998 501,764,582 6.32% 7.83% August 15, 2029 W 328,000,000 Semi-Annual 52,549 (12,344,216 ) 340,291,667 340,357,849 6.40% 8.00% August 15, 2031 X 93,000,000 Semi-Annual 14,981 (3,527,461 ) 96,512,480 96,809,482 6.46% 8.13% August 15, 2034 Y 195,000,000 Semi-Annual 31,480 (8,501,096 ) 203,469,616 204,095,989 6.51% 8.19% August 15, 2036 Total $ 4,895,000,000 $ 16,162,680 $ (77,457,835 ) $ 4,956,295,155 $ 5,026,524,411 | ||||||||
| Senior Securities Amount | $ 4,895,000,000 | ||||||||
| Senior Securities, Note [Text Block] | For the For the For the For the For the For the For the Net asset value, beginning of period $ 10.67 $ 10.67 $ 10.79 $ 10.60 $ 10.35 $ 10.15 $ 10.00 Income from Investment Operations: Net investment income 1 0.56 1.15 0.87 0.16 0.72 0.72 0.34 Net realized and unrealized gain (loss) on investments 2 — 3 0.18 (0.15 ) 0.03 0.27 0.19 (0.04 ) Total income from investment operations 0.56 1.33 0.72 0.19 0.99 0.91 0.30 Less Distributions to shareholders: From net investment income (0.30 ) (1.41 ) (0.69 ) — (0.62 ) (0.62 ) (0.15 ) From return of capital — (0.04 ) (0.15 ) — (0.10 ) (0.09 ) — From net realized gain — — — — (0.02 ) — 3 — 3 Total Distributions to shareholders (0.30 ) (1.45 ) (0.84 ) — (0.74 ) (0.71 ) (0.15 ) Net asset value, end of period $ 10.93 $ 10.55 $ 10.67 $ 10.79 $ 10.60 $ 10.35 $ 10.15 Total return 4 6.52 % 5 13.34 % 7.06 % 1.79 % 5 10.38 % 9.25 % 3.05 % 5 Ratios and Supplemental Data: Net assets, end of period (in thousands) $ 22,794,296 $ 17,872,941 $ 11,076,905 $ 6,742,783 $ 4,729,648 $ 744,892 $ 268,536 Ratio of expenses to average net assets (excluding interest expense) 7 : Before fees waived and deferred tax expense 1.29 % 6 1.20 % 1.23 % 1.28 % 6 1.32 % 1.80 % 2.25 % 6 After fees waived 1.29 % 6 1.20 % 1.23 % 1.28 % 6 1.32 % 1.80 % 1.78 % 6 Ratio of expenses to average net assets (including interest expense) 7 : Before fees waived 3.21 % 6 3.42 % 2.95 % 1.79 % 6 1.94 % 2.43 % 2.28 % 6 After fees waived 3.21 % 6 3.42 % 2.95 % 1.79 % 6 1.94 % 2.43 % 1.81 % 6 Ratio of net investment income to average net assets (including interest expense) 7 : Before fees waived 10.40 % 6 10.81 % 8.23 % 6.24 % 6 6.74 % 7.04 % 3.55 % 6 After fees waived 10.40 % 6 10.81 % 8.23 % 6.24 % 6 6.74 % 7.04 % 4.02 % 6 Portfolio turnover rate 21 % 5 31 % 26 % 16 % 5 29 % 29 % 15 % 5 * ** 1 2 3 4 5 6 7 8 Supplemental Expense For the (Unaudited) For the March 31, For the March 31, For the March 31, For the December 31, For the December 31, For the December 31, Ratio of expenses to average net assets (excluding interest expense) 7 : Deferred tax expense 8 0.02 % 6 0.01 % 0.01 % — % — % — % — % 6 With fees waived, after taxes 1.31 % 6 1.21 % 1.24 % 1.28 % 6 1.32 % 1.80 % 1.78 % 6 Senior Securities Total Amount Outstanding Reverse Repurchase Agreements $ — $ 4,320,000 $ 3,870,000 $ 6,255,000 $ 6,833,000 $ 12,557,000 $ 6,034,000 Secured Borrowings — — — 204,168,415 249,990,230 — — Senior Credit Facility 767,500,000 1,175,000,000 932,000,000 607,000,000 1,195,000,000 190,000,000 — Senior Notes 4,895,000,000 3,225,000,000 1,865,000,000 650,000,000 — — — Asset Coverage Per $1,000 of Borrowings Reverse Repurchase Agreements — 4,138,255 2,863,249 1,078,983 693,179 60,321 45,504 Secured Borrowings — — — 34,026 19,919 — — Senior Credit Facility 30,699 16,211 12,885 12,108 4,958 4,916 — Senior Notes 5,669 6,517 6,920 11,376 — — — Senior Notes (the “Notes”) On March 29, 2022, the Fund issued Series A Senior Secured Notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $650 million, maturing on March 28, 2027. On June 7, 2022, the Fund issued additional Series A notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $250 million, maturing on March 28, 2027. On July 22, 2022, the Fund issued Series B, Series C, Series E and Series F notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $635 million with various maturities. On September 29, 2022, the Fund issued Series D and Series G notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $50 million with various maturities. On December 6, 2022, the Fund issued Series H, Series I and Series J notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $270 million with various maturities. On January 5, 2023, the Fund issued additional Series I notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $10 million maturing on December 6, 2027. On August 4, 2023, the Fund issued Series K, Series L, Series M and Series N notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $600 million with various maturities. On December 19, 2023, the Fund issued additional Series O, Series P, Series Q, Series R, and Series S notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $733 million with various maturities. On January 20, 2024, the Fund issued additional Series O Senior Secured Notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $27 million, maturing on January 20, 2027. On March 18, 2024, the Fund issued additional Series T notes for a private placement to qualified institutional purchasers in the aggregate principal amount of $300 million, maturing on April 12, 2029. On August 15, 2024, the Fund issued additional Series U, Series V, Series W, Series X and Series Y notes in a private placement to qualified institutional purchasers in the aggregate principal amount of $1,370 million with various maturities. The obligations of the Fund and each of the Guarantors under the Facility and the Notes are secured by a first -priority In connection with the Notes, the Fund entered into interest rate swaps to more closely align the interest rates of its liabilities with its investment portfolio, which consists of predominately floating rate loans. Under the interest rate swap agreements, the Fund receives a fixed interest rate and pays a floating interest rate of daily simple SOFR plus various spreads as disclosed on the Consolidated Schedule of Swap Contracts on notional amounts equal to the principal outstanding of the Notes. The Fund designated the interest rate swaps as the hedging instruments in effective hedge accounting relationships. See Notes 10 and 11 for more information regarding the interest rate swaps. The table below sets forth a summary of the key terms of the series of Notes outstanding at September 30, 2024. Series Principal Payment Unamortized Interest Rate Carrying Fair Value Fixed Effective Maturity Date A $ 650,000,000 Semi-Annual $ 45,671 $ 11,773,551 $ 638,180,778 $ 628,135,161 4.10% 5.89% March 28, 2027 A 250,000,000 Semi-Annual 16,739 1,276,286 248,706,975 241,590,446 4.10% 5.50% March 28, 2027 B 215,000,000 Semi-Annual 349,994 2,158,793 212,491,213 214,357,606 5.44% 7.09% July 19, 2025 C 130,000,000 Semi-Annual 351,319 1,343,872 128,304,809 129,991,892 5.50% 7.24% July 19, 2026 D 10,000,000 Semi-Annual 27,020 99,864 9,873,116 9,999,376 5.50% 7.42% July 19, 2026 E 130,000,000 Semi-Annual 432,990 1,560,510 128,006,500 130,221,608 5.61% 7.43% July 19, 2027 F 160,000,000 Semi-Annual 645,557 2,920,563 156,433,880 160,405,253 5.72% 7.61% July 19, 2029 G 40,000,000 Semi-Annual 161,393 722,466 39,116,141 40,101,313 5.72% 7.80% July 19, 2029 H 34,000,000 Semi-Annual 124,900 (222,628 ) 34,097,728 34,542,948 7.06% 8.14% December 6, 2025 I 95,000,000 Semi-Annual 885,978 (1,994,011 ) 96,108,033 99,234,128 7.10% 8.50% December 6, 2027 I 10,000,000 Semi-Annual 55,994 (208,377 ) 10,152,383 10,445,698 7.10% 8.39% December 6, 2027 J 141,000,000 Semi-Annual 1,624,999 (4,065,779 ) 143,440,780 150,364,929 7.17% 8.65% December 6, 2029 K 115,200,000 Semi-Annual 597,747 (1,226,263 ) 115,828,516 117,926,937 6.75% 8.25% August 4, 2026 L 304,800,000 Semi-Annual 1,975,245 (4,542,568 ) 307,367,323 317,447,956 6.77% 8.55% August 4, 2028 M 114,000,000 Semi-Annual 801,616 (1,468,008 ) 114,666,392 120,244,532 6.81% 8.73% August 4, 2030 N 66,000,000 Semi-Annual 491,376 (497,683 ) 66,006,307 71,006,194 6.99% 8.98% August 4, 2033 O 85,000,000 Semi-Annual 514,017 (1,669,838 ) 86,155,821 88,131,901 7.04% 8.40% January 20, 2027 O 27,000,000 Semi-Annual 16,769 (509,340 ) 27,492,571 27,994,839 7.04% 8.28% January 20, 2027 P 224,000,000 Semi-Annual 1,534,762 (6,734,699 ) 229,199,937 236,730,981 7.06% 8.52% January 20, 2029 Q 155,000,000 Semi-Annual 1,116,218 (6,252,173 ) 160,135,955 167,343,046 7.23% 8.72% January 20, 2031 R 224,000,000 Semi-Annual 1,672,444 (11,903,955 ) 234,231,511 247,919,427 7.40% 8.87% January 20, 2034 S 45,000,000 Semi-Annual 340,642 (2,920,012 ) 47,579,370 50,940,041 7.51% 8.93% January 20, 2036 T 150,000,000 Semi-Annual 1,080,551 (4,761,733 ) 153,681,182 156,833,475 6.69% 8.17% April 12, 2029 T 150,000,000 Semi-Annual 1,080,551 (4,453,515 ) 153,372,964 156,833,475 6.69% 8.29% April 12, 2029 U 268,000,000 Semi-Annual 41,886 (5,852,095 ) 273,810,209 274,753,347 6.20% 7.47% August 15, 2027 V 486,000,000 Semi-Annual 77,292 (15,658,290 ) 501,580,998 501,764,582 6.32% 7.83% August 15, 2029 W 328,000,000 Semi-Annual 52,549 (12,344,216 ) 340,291,667 340,357,849 6.40% 8.00% August 15, 2031 X 93,000,000 Semi-Annual 14,981 (3,527,461 ) 96,512,480 96,809,482 6.46% 8.13% August 15, 2034 Y 195,000,000 Semi-Annual 31,480 (8,501,096 ) 203,469,616 204,095,989 6.51% 8.19% August 15, 2036 Total $ 4,895,000,000 $ 16,162,680 $ (77,457,835 ) $ 4,956,295,155 $ 5,026,524,411 The Notes are fair valued using an income approach and classified as level 3 in the fair value hierarchy. The discount rates used ranged from 5.24% – 5.96%. The Fund shall at all times maintain a current rating given by a Nationally Recognized Statistical Rating Organization (an “NRSRO”) of at least Investment Grade with respect to the Notes and shall not at any time have any rating given by a NRSRO of less than Investment Grade with respect to the Notes. The Notes have been assigned an “AA” long -term In keeping with the Investment Company Act requirement that the Fund may not issue more than one class of senior securities constituting indebtedness, the Facility and Notes rank pari passu with each other, and the lien on the Fund’s assets securing the Notes is equal and ratable with the lien securing the Facility. The Facility and Notes are senior in all respects to the Fund’s outstanding shares with respect to the payment of dividends and the distribution of assets upon dissolution, liquidation or winding up of the affairs of the Fund. The Fund incurs costs in connection with the issuance of the Notes. These costs are recorded as a deferred charge and are being amortized over the respective life of each series of notes. Amortization of offering costs on notes is included on the Consolidated Statement of Operations and the carrying amount on the Consolidated Statement of Assets and Liabilities is equal to the principal amount of the Notes less unamortized offering costs and the interest rate fair value adjustment. The Fund complies with Section 8 and Section 18 of the Investment Company Act, governing investment policies and capital structure and leverage, respectively, on an aggregate basis with the Guarantors. The Guarantors also comply with Section 17 of the Investment Company Act relating to affiliated transactions and custody. At September 30, 2024, the Fund was in compliance with all covenants under the Note Agreements. | ||||||||
| General Description of Registrant [Abstract] | |||||||||
| Investment Objectives and Practices [Text Block] | The Fund’s primary investment objective is to seek consistent current income, while the Fund’s secondary objective is capital preservation. Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80% of its assets (net assets, plus any borrowings for investment purposes) in loans to companies (“corporate loans”). The Fund’s corporate loan investments are made through a combination of: (i) investing in loans to companies that are originated directly by a non -bank -through -backed -like -U | ||||||||
| Risk Factors [Table Text Block] | Principal Risks Debt Securities Under normal market conditions, the Fund expects to primarily invest in debt and debt -related Private Investment Funds The Fund may invest in Private Investment Funds that are not registered as investment companies. As a result, the Fund as an investor in these funds would not have the benefit of certain protections afforded to investors in registered investment companies. The Fund may not have the same amount of information about the identity, value, or performance of the Private Investment Funds’ investments as such private Investment Funds’ managers. Investments in Private Investment Funds generally will be illiquid and generally may not be transferred without the consent of the fund. The Fund may be unable to liquidate its investment in a Private Investment Fund when desired (and may incur losses as a result), or may be required to sell such investment regardless of whether it desires to do so. Upon its withdrawal of all or a portion of its interest in a Private Investment Fund, the Fund may receive securities that are illiquid or difficult to value. The Fund may not be able to withdraw from a Private Investment Fund except at certain designated times, thereby limiting the ability of the Fund to withdraw assets from the Private Investment Fund due to poor performance or other reasons. The fees paid by Private Investment Funds to their advisers and general partners or managing members often are higher than those paid by registered funds and generally include a percentage of gains. The Fund will bear its proportionate share of the management fees and other expenses that are charged by a Private Investment Fund in addition to the management fees and other expenses paid by the Fund. Derivative Instruments The Fund may use options, swaps, futures contracts, forward agreements, reverse repurchase agreements and other similar transactions. The Fund’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying asset, rate or index, which creates the possibility that the loss on such instruments may be greater than the gain in the value of the underlying asset, rate or index; the loss of principal; the possible default of the other party to the transaction; and illiquidity of the derivative investments. If a counterparty becomes bankrupt or otherwise fails to perform its obligations under a derivative contract due to financial difficulties, the Fund may experience significant delays in obtaining any recovery under the derivative contract in a bankruptcy or other reorganization proceeding, or may not recover at all. In addition, in the event of the insolvency of a counterparty to a derivative transaction, the derivative contract would typically be terminated at its fair market value. If the Fund is owed this fair market value in the termination of the derivative contract and its claim is unsecured, the Fund will be treated as a general creditor of such counterparty and will not have any claim with respect to the underlying security. Certain of the derivative investments in which the Fund may invest may, in certain circumstances, give rise to a form of financial leverage, which may magnify the risk of owning such instruments. The ability to successfully use derivative investments depends on the ability of the Investment Manager to predict pertinent market movements, which cannot be assured. In addition, amounts paid by the Fund as premiums and cash or other assets held in margin accounts with respect to the Fund’s derivative investments would not be available to the Fund for other investment purposes, which may result in lost opportunities for gain. Economic Downturn or Recession or Other Market Disruption Many of the Fund’s investments may be issued by companies susceptible to economic slowdowns or recessions. Therefore, the Fund’s non -performing The Fund may also be adversely affected by uncertainties and events around the world, such as public health emergencies, terrorism, political developments, and changes in government policies, taxation, restrictions on foreign investment and currency repatriation, currency fluctuations and other developments in the laws and regulations of the countries in which it is invested. International war or conflicts (including Russia’s invasion of Ukraine and the Israel -Hamas LIBOR Discontinuation Risk LIBOR had been used extensively in the U.S. and globally as a “benchmark” or “reference rate” for various commercial and financial contracts, including corporate and municipal bonds, bank loans, asset -backed -related -week -month Neither the ultimate effect of the LIBOR transition process nor its success can yet be known. Although the transition away from LIBOR has become increasingly well -defined -based -setting -setting as a reference rate, and it is possible that investments in LIBOR -based -issued Specifically, the transition to one or more alternate Benchmark Rate(s), and the implementation of such new Benchmark Rate(s) may impact a number of factors, which, either alone or in the aggregate, may cause a material adverse effect on the Fund’s performance and ability to achieve its investment objective. Such factors include, without limitation: (i) the administration and/or management of portfolio of investments, including (a) cost of funding or other operational or administrative costs, (b) costs incurred to transition to and implement a substitute index or Benchmark Rate(s) for purposes of calculating interest, (c) costs of negotiating with counterparties with respect to an acceptable replacement calculation and potential amendments to existing debt instruments or credit facilities currently utilizing LIBOR to determine interest rates, and/or (d) costs of potential disputes and/or litigation regarding interest calculation, loan value, appropriateness or comparability of any new Benchmark Rate(s) or any other dispute over terms relating to or arising from any of the foregoing; (ii) the availability (or lack thereof) of potential investments in the market during the transition period; (iii) the time periods necessary to make investments and deploy capital during the transition period; (iv) the calculation and value of investments and overall cash flows, profitability and performance; (v) the liquidity of investments in the secondary market or otherwise, and the asset -liability SOFR RISK SOFR is a broad measure of the cost of borrowing funds overnight in transactions that are collateralized by U.S. Treasury securities. SOFR is calculated based on transaction -level -weighted Because SOFR is a financing rate based on overnight secured funding transactions, it differs fundamentally from LIBOR. LIBOR was intended to be an unsecured rate that represents interbank funding costs for different short -term -looking -risk -term -based -month -based -based Limited Liquidity Shares in the Fund provide limited liquidity since shareholders will not be able to redeem Shares on a daily basis. A shareholder may not be able to tender its Shares in the Fund promptly after it has made a decision to do so. In addition, with very limited exceptions, Shares are not transferable, and liquidity will be provided only through repurchase offers made quarterly by the Fund. In addition, the Fund does not expect any trading market to develop for the Shares. As a result, if investors decide to invest in the Fund, they will have very limited opportunity to sell their Shares. Shares in the Fund are therefore suitable only for investors who can bear the risks associated with the limited liquidity of Shares and should be viewed as a long -term | ||||||||
| Effects of Leverage [Text Block] | Borrowing, Use of Leverage On March 29, 2022, the Fund and certain of its wholly -owned -year In connection with the Facility and Notes (discussed below under “Senior Notes”), the Fund and Guarantors have made certain customary representations and warranties and are required to comply with various customary covenants, reporting requirements and other requirements. The Facility and Notes each contain events of default customary for similar financing transactions, including: (i) the failure to make principal, interest or other payments when due after the applicable grace period; (ii) the insolvency or bankruptcy of the Guarantors or the Fund; or (iii) a change of management of the Fund. Upon the occurrence and during the continuation of an event of default, the Lenders or Note holders may declare the outstanding advances and all other obligations under the Facility and the Notes, respectively, immediately due and payable or incur a default rate of interest. The Facility and/or Notes may in the future be replaced or refinanced by entering into one or more new credit facilities or by the issuance of new debt securities, in each case having substantially different terms from the current Facility and Notes. For the six months ended September 30, 2024, the average balance outstanding, maximum amount borrowed and weighted average interest rate under the Term Loan were $707,090,164, $717,500,000 and 7.45%, respectively. For the six months ended September 30, 2024, the average balance outstanding, maximum amount borrowed and weighted average interest rate under the Revolving Loan were $376,366,120, $875,000,000 and 7.45%, respectively. In addition, the interest rate at period end on the Term Loan and Revolving Loan were 6.99% and 7.47%, respectively. The interest expense during the six months ended September 30, 2024, was $44,482,222. Commitment fees incurred are prepaid and amortized over the term of the loan. For the six months ended September 30, 2024, commitment fees were $631,108. Unused commitment fees for the six months ended September 30, 2024, were $990,083.34. The use of leverage increases both risk of loss and profit potential. The Fund is subject to the Investment Company Act requirement that an investment company satisfy an asset coverage requirement of 300% of its indebtedness, including amounts borrowed (including through one or more SPVs that are wholly -owned indebtedness, the value of the Fund’s total indebtedness may not exceed one -third -owned -leverage | ||||||||
| Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||||
| Capital Stock [Table Text Block] | Capital Stock The Fund is authorized as a Delaware statutory trust to issue an unlimited number of Shares in one or more classes, with a par value of $0.001. The minimum initial investment in Class I Shares by any investor is $10 million. However, the Fund, in its sole discretion, may accept investments below this minimum with respect to Class I Shares. Shares may be purchased by principals and employees of the Investment Manager or its affiliates and their immediate family members without being subject to the minimum investment requirements. Class I Shares are not subject to any initial sales charge. Shares will generally be offered for purchase on each business day at NAV per share, except that Shares may be offered more or less frequently as determined by the Board in its sole discretion. The Board may also suspend or terminate offerings of Shares at any time. A shareholder whose Shares (or a portion thereof) are repurchased by the Fund will not be entitled to a return of any sales charge that was charged in connection with the shareholder’s purchase of the Shares. Pursuant to Rule 23c -3 Commencement Date April 15, 2024 July 15, 2024 Repurchase Request May 15, 2024 August 14, 2024 Repurchase Pricing date May 15, 2024 August 14, 2024 Net Asset Value as of Repurchase Offer Date Class I $ 10.77 $ 10.77 Amount Repurchased Class I $ 389,419,493 $ 558,253,445 Percentage of Outstanding Shares Repurchased Class I 1.99 % 2.58 % In preparing these consolidated financial statements, management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. The Fund commenced a repurchase offer on October 14, 2024 as follows: Commencement Date October 14, 2024 Repurchase Request November 13, 2024 Repurchase Pricing date November 13, 2024 Net Asset Value as of Repurchase Offer Date Class I $10.77 Amount Repurchased Class I $695,314,676 Percentage of Outstanding Shares Repurchased Class I 2.92% | ||||||||
| Security Dividends [Text Block] | The minimum initial investment in Class I Shares by any investor is $10 million. | ||||||||
| Long Term Debt [Table Text Block] | Secured Borrowings From time to time, the Fund may engage in sale/buy -back -by-transaction -back | ||||||||
| Outstanding Securities [Table Text Block] | Assets: Investments in unaffiliated securities, at value (cost $27,022,721,363) (a) $ 27,428,335,856 Investments in affiliated securities, at value (cost $91,270,191) 94,151,891 Foreign currency, at value (cost $4,937,479) 4,735,948 Unrealized appreciation on forward foreign currency exchange contracts 3,539,076 Unrealized appreciation on swap contracts 77,457,834 Cash 126,211,853 Cash collateral for swap contracts 137,950,000 Receivables: Investment securities sold 166,490,075 Fund shares sold 26,740,216 Dividends and interest 519,073,054 Prepaid expenses 11,291,832 Prepaid underlying loan expense 4,437,813 Prepaid commitment fees on secured credit facility 9,595,186 Total assets 28,610,010,634 Liabilities: Unrealized depreciation on forward foreign currency exchange contracts 774,521 Payables: Senior notes (Net of deferred offering cost of $16,162,679) (Note 2) 4,956,295,155 Secured credit facility (Note 2) 767,500,000 Line of credit facility waiver of fees 300,946 Investment securities purchased 3,124,398 Deferred tax liability 3,665,215 Interest on senior notes 68,739,076 Interest on secured credit facility 3,319,048 Investment Management fees 4,347,422 Audit fees 552,877 Fund administration fees 1,393,369 Legal fees 257,251 Custody fees 109,829 Trustees’ fees and expenses 18,911 Transfer agency fees and expenses 235,746 Sub transfer agency fees and expenses 2,247,044 Swap interest 1,962,556 Chief Compliance Officer fees 8,234 Other accrued expenses 863,015 Total liabilities 5,815,714,613 Net Assets $ 22,794,296,021 Components of Net Assets: Paid-in capital (par value of $0.001 per share with an unlimited number of shares authorized) $ 22,069,751,712 Total distributable earnings 724,544,309 Net Assets $ 22,794,296,021 Class I Shares: Net assets applicable to shares outstanding $ 22,794,296,021 Shares of beneficial interest issued and outstanding 2,085,277,752 Net asset value, offering, and redemption price per share 10.93 | ||||||||
| Debt Securities [Member] | |||||||||
| General Description of Registrant [Abstract] | |||||||||
| Risk [Text Block] | Debt Securities Under normal market conditions, the Fund expects to primarily invest in debt and debt -related | ||||||||
| Private Investment Funds [Member] | |||||||||
| General Description of Registrant [Abstract] | |||||||||
| Risk [Text Block] | Private Investment Funds The Fund may invest in Private Investment Funds that are not registered as investment companies. As a result, the Fund as an investor in these funds would not have the benefit of certain protections afforded to investors in registered investment companies. The Fund may not have the same amount of information about the identity, value, or performance of the Private Investment Funds’ investments as such private Investment Funds’ managers. Investments in Private Investment Funds generally will be illiquid and generally may not be transferred without the consent of the fund. The Fund may be unable to liquidate its investment in a Private Investment Fund when desired (and may incur losses as a result), or may be required to sell such investment regardless of whether it desires to do so. Upon its withdrawal of all or a portion of its interest in a Private Investment Fund, the Fund may receive securities that are illiquid or difficult to value. The Fund may not be able to withdraw from a Private Investment Fund except at certain designated times, thereby limiting the ability of the Fund to withdraw assets from the Private Investment Fund due to poor performance or other reasons. The fees paid by Private Investment Funds to their advisers and general partners or managing members often are higher than those paid by registered funds and generally include a percentage of gains. The Fund will bear its proportionate share of the management fees and other expenses that are charged by a Private Investment Fund in addition to the management fees and other expenses paid by the Fund. | ||||||||
| Derivative Instruments [Member] | |||||||||
| General Description of Registrant [Abstract] | |||||||||
| Risk [Text Block] | Derivative Instruments The Fund may use options, swaps, futures contracts, forward agreements, reverse repurchase agreements and other similar transactions. The Fund’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying asset, rate or index, which creates the possibility that the loss on such instruments may be greater than the gain in the value of the underlying asset, rate or index; the loss of principal; the possible default of the other party to the transaction; and illiquidity of the derivative investments. If a counterparty becomes bankrupt or otherwise fails to perform its obligations under a derivative contract due to financial difficulties, the Fund may experience significant delays in obtaining any recovery under the derivative contract in a bankruptcy or other reorganization proceeding, or may not recover at all. In addition, in the event of the insolvency of a counterparty to a derivative transaction, the derivative contract would typically be terminated at its fair market value. If the Fund is owed this fair market value in the termination of the derivative contract and its claim is unsecured, the Fund will be treated as a general creditor of such counterparty and will not have any claim with respect to the underlying security. Certain of the derivative investments in which the Fund may invest may, in certain circumstances, give rise to a form of financial leverage, which may magnify the risk of owning such instruments. The ability to successfully use derivative investments depends on the ability of the Investment Manager to predict pertinent market movements, which cannot be assured. In addition, amounts paid by the Fund as premiums and cash or other assets held in margin accounts with respect to the Fund’s derivative investments would not be available to the Fund for other investment purposes, which may result in lost opportunities for gain. | ||||||||
| Economic Downturn or Recession or Other Market Disruption [Member] | |||||||||
| General Description of Registrant [Abstract] | |||||||||
| Risk [Text Block] | Economic Downturn or Recession or Other Market Disruption Many of the Fund’s investments may be issued by companies susceptible to economic slowdowns or recessions. Therefore, the Fund’s non -performing The Fund may also be adversely affected by uncertainties and events around the world, such as public health emergencies, terrorism, political developments, and changes in government policies, taxation, restrictions on foreign investment and currency repatriation, currency fluctuations and other developments in the laws and regulations of the countries in which it is invested. International war or conflicts (including Russia’s invasion of Ukraine and the Israel -Hamas | ||||||||
| LIBOR Discontinuation Risk [Member] | |||||||||
| General Description of Registrant [Abstract] | |||||||||
| Risk [Text Block] | LIBOR Discontinuation Risk LIBOR had been used extensively in the U.S. and globally as a “benchmark” or “reference rate” for various commercial and financial contracts, including corporate and municipal bonds, bank loans, asset -backed -related -week -month Neither the ultimate effect of the LIBOR transition process nor its success can yet be known. Although the transition away from LIBOR has become increasingly well -defined -based -setting -setting as a reference rate, and it is possible that investments in LIBOR -based -issued Specifically, the transition to one or more alternate Benchmark Rate(s), and the implementation of such new Benchmark Rate(s) may impact a number of factors, which, either alone or in the aggregate, may cause a material adverse effect on the Fund’s performance and ability to achieve its investment objective. Such factors include, without limitation: (i) the administration and/or management of portfolio of investments, including (a) cost of funding or other operational or administrative costs, (b) costs incurred to transition to and implement a substitute index or Benchmark Rate(s) for purposes of calculating interest, (c) costs of negotiating with counterparties with respect to an acceptable replacement calculation and potential amendments to existing debt instruments or credit facilities currently utilizing LIBOR to determine interest rates, and/or (d) costs of potential disputes and/or litigation regarding interest calculation, loan value, appropriateness or comparability of any new Benchmark Rate(s) or any other dispute over terms relating to or arising from any of the foregoing; (ii) the availability (or lack thereof) of potential investments in the market during the transition period; (iii) the time periods necessary to make investments and deploy capital during the transition period; (iv) the calculation and value of investments and overall cash flows, profitability and performance; (v) the liquidity of investments in the secondary market or otherwise, and the asset -liability | ||||||||
| SOFR RISK [Member] | |||||||||
| General Description of Registrant [Abstract] | |||||||||
| Risk [Text Block] | SOFR RISK SOFR is a broad measure of the cost of borrowing funds overnight in transactions that are collateralized by U.S. Treasury securities. SOFR is calculated based on transaction -level -weighted Because SOFR is a financing rate based on overnight secured funding transactions, it differs fundamentally from LIBOR. LIBOR was intended to be an unsecured rate that represents interbank funding costs for different short -term -looking -risk -term -based -month -based -based | ||||||||
| Limited Liquidity [Member] | |||||||||
| General Description of Registrant [Abstract] | |||||||||
| Risk [Text Block] | Limited Liquidity Shares in the Fund provide limited liquidity since shareholders will not be able to redeem Shares on a daily basis. A shareholder may not be able to tender its Shares in the Fund promptly after it has made a decision to do so. In addition, with very limited exceptions, Shares are not transferable, and liquidity will be provided only through repurchase offers made quarterly by the Fund. In addition, the Fund does not expect any trading market to develop for the Shares. As a result, if investors decide to invest in the Fund, they will have very limited opportunity to sell their Shares. Shares in the Fund are therefore suitable only for investors who can bear the risks associated with the limited liquidity of Shares and should be viewed as a long -term | ||||||||
| Class I Shares [Member] | |||||||||
| Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||||
| Outstanding Security, Held [Shares] | 2,085,277,752 | ||||||||
| Reverse Repurchase Agreements [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | $ 4,320,000 | $ 3,870,000 | $ 6,255,000 | $ 6,833,000 | $ 12,557,000 | $ 6,034,000 | |||
| Senior Securities Coverage per Unit | $ 4,138,255 | $ 2,863,249 | $ 1,078,983 | $ 693,179 | $ 60,321 | $ 45,504 | |||
| Secured Borrowings [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | $ 204,168,415 | $ 249,990,230 | |||||||
| Senior Securities Coverage per Unit | $ 34,026 | $ 19,919 | |||||||
| Senior Credit Facility [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | $ 767,500,000 | $ 1,175,000,000 | $ 932,000,000 | $ 607,000,000 | $ 1,195,000,000 | $ 190,000,000 | |||
| Senior Securities Coverage per Unit | $ 30,699 | $ 16,211 | $ 12,885 | $ 12,108 | $ 4,958 | $ 4,916 | |||
| Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | $ 4,895,000,000 | $ 3,225,000,000 | $ 1,865,000,000 | $ 650,000,000 | |||||
| Senior Securities Coverage per Unit | $ 5,669 | $ 6,517 | $ 6,920 | $ 11,376 | |||||
| Series A Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | $ 650,000,000 | ||||||||
| Series A One Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 250,000,000 | ||||||||
| Series B Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 215,000,000 | ||||||||
| Series C Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 130,000,000 | ||||||||
| Series D Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 10,000,000 | ||||||||
| Series E Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 130,000,000 | ||||||||
| Series F Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 160,000,000 | ||||||||
| Series G Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 40,000,000 | ||||||||
| Series H Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 34,000,000 | ||||||||
| Series I Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 95,000,000 | ||||||||
| Series I One Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 10,000,000 | ||||||||
| Series J Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 141,000,000 | ||||||||
| Series K Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 115,200,000 | ||||||||
| Series L Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 304,800,000 | ||||||||
| Series M Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 114,000,000 | ||||||||
| Series N Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 66,000,000 | ||||||||
| Series O Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 85,000,000 | ||||||||
| Series O One Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 27,000,000 | ||||||||
| Series P Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 224,000,000 | ||||||||
| Series Q Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 155,000,000 | ||||||||
| Series R Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 224,000,000 | ||||||||
| Series S Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 45,000,000 | ||||||||
| Series T Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 150,000,000 | ||||||||
| Series T One Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 150,000,000 | ||||||||
| Series U Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 268,000,000 | ||||||||
| Series V Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 486,000,000 | ||||||||
| Series W Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 328,000,000 | ||||||||
| Series X Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | 93,000,000 | ||||||||
| Series Y Senior Notes [Member] | |||||||||
| Financial Highlights [Abstract] | |||||||||
| Senior Securities Amount | $ 195,000,000 | ||||||||
| [1]Fiscal year end changed to March 31, effective January 1, 2022.[2]Commencement of operations. | |||||||||
