“Adjusted Net Income The increase in adjusted net income for the three months ended March 31, 2026 compared to the prior period was primarily due to a higher level of total segment earnings, partially offset by an increase in interest expense, net and other.”
“The decrease was partially offset by (i) the impact of closing CLOs that were consolidated subsequent to September 30, 2024, and (ii) an increase in the amount of borrowings outstanding.”
“Accordingly, the unrealized gains and losses resulting from changes in fair value of the investments and other financial instruments held by the consolidated investment funds are reflected as a component of Net Gains (Losses) from Investment Activities in the consolidated statements of operations.”