Financial Highlights (Tables)

3 Months Ended

Mar. 31, 2025

Investment Company, Financial Highlights [Abstract]


	For the Three Months Ended March 31, 2025			For the Three Months Ended March 31, 2024
Per share data:
Net asset value, beginning of period	$	25.31		$	25.00
Net investment income (loss) (1)		0.62			0.35
Net realized and unrealized gain (loss) (2)		(0.03	)		(0.21	)
Net increase (decrease) in net assets from operations		0.59			0.14
Distributions declared (3)		(0.63	)		—
Total increase (decrease) in net assets		(0.04	)		0.14
Net asset value, end of period	$	25.27		$	25.14
Shares Outstanding, end of period		18,557,565			5,800,895
Total Return (4)		2.33	%		0.56	%
Ratios
Ratio of net expenses to average net assets (5)		3.51	%		9.48	%
Ratio of net investment income (loss) to average net assets (5)		2.46	%		5.56	%
Portfolio turnover rate (6)		0.96	%		—
Supplemental Data
Net Assets, end of period	$	469,029		$	145,855
Weighted average shares outstanding		14,540,648			3,041,581
Total capital commitments, end of period	$	1,901,732		$	1,443,918
Average debt outstanding	$	453,906		$	25,508
Asset coverage ratio		190.3	%		287.6	%
Ratio of total contributed capital to total committed capital, end of period		24.03	%		10.04	%

(1)

The per share data was derived by using the weighted average shares outstanding during the period.

(2)

For the three months ended March 31, 2025 and March 31, 2024, the amount shown does not correspond with the aggregate amount for the period as it includes the effect of the timing of capital transactions.

(3)

The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 8).

(4)

Total return is calculated as the change in NAV per share during the period plus distributions per share divided by the NAV per share at the beginning of the period. Distributions are assumed for purposes of this calculation to be reinvested at prices obtained under the Company’s dividend reinvestment plan. Total return is for the period indicated and has not been annualized.

(5)

Amounts are annualized except for organizational and offering costs and expense support amounts relating to organizational and offering costs. For the three months ended March 31, 2025 and March 31, 2024, the ratio of total operating expenses to average net assets respectively was 3.51% and 15.60% respectively, on an annualized basis, excluding the effect of expense support/(recoupment) by the Adviser which represented 0.00% and 6.12% respectively, of average net assets.

(6)

Portfolio turnover rate is calculated using the lesser of total sales or total purchases over the average of the investments at fair value for the period reported.