
	For the Three Months Ended March 31,
	2025									2024
($ in thousands, except share and per share amounts)	Class S common stock			Class D common stock			Class I common stock			Class S common stock			Class D common stock			Class I common stock
Per share data:
Net asset value, at beginning of period	$	9.54		$	9.55		$	9.57		$	9.48		$	9.49		$	9.50
Results of operations:
Net investment income (loss)(1)	0.21			0.22			0.23			0.25			0.27			0.27
Net realized and unrealized gain (loss)(2)	(0.07)			(0.06)			(0.07)			(0.01)			(0.01)			—
Net increase (decrease) in net assets resulting from operations	$	0.14		$	0.16		$	0.16		$	0.24		$	0.26		$	0.27
Shareholder distributions:
Distributions from net investment income(3)	(0.21)			(0.22)			(0.23)			(0.22)			(0.24)			(0.24)

Distributions in excess of net investment income(3)	(0.01)			(0.02)			(0.01)			—			—			—
Net decrease in net assets from shareholders’ distributions	$	(0.22)		$	(0.24)		$	(0.24)		$	(0.22)		$	(0.24)		$	(0.24)
Total increase (decrease) in net assets	(0.08)			(0.08)			(0.08)			0.02			0.02			0.03
Net asset value, at end of period	$	9.46		$	9.47		$	9.49		$	9.50		$	9.51		$	9.53

Total return(4)	1.5		%	1.7		%	1.7		%	2.5		%	2.6		%	2.8		%

Ratios
Ratio of net expenses to average net assets(5)(6)	9.4		%	8.7		%	8.6		%	11.2		%	11.0		%	10.3		%
Ratio of net investment income to average net assets(6)	9.2		%	9.7		%	10.1		%	11.0		%	12.1		%	11.9		%
Portfolio turnover rate	9.2		%	9.2		%	9.2		%	3.7		%	3.7		%	3.7		%

Supplemental Data
Weighted-average shares outstanding	553,435,797			54,656,440			1,043,162,192			356,127,221			42,899,375			630,203,053
Shares outstanding, end of period	570,264,051			57,227,131			1,089,239,943			371,785,601			41,170,574			656,148,634
Net assets, end of period	$	5,394,691		$	541,939		$	10,332,962		$	3,533,219		$	391,735		$	6,252,810

(2)The amount shown at this caption is the balancing amount derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio securities for the period because of the timing of sales of the Company’s shares in relation to fluctuating market values for the portfolio.

(4)Total return is not annualized. An investment in the Company is subject to maximum upfront sales load of 3.5% and 1.5% for Class S and Class D common stock, respectively, of the offering price, which will reduce the amount of capital available for investment. Class I common stock is not subject to upfront sales load. Total return displayed is net of all fees, including all operating expenses such as management fees, incentive fees, general and administrative expenses, organization and amortized offering expenses, and interest expenses. Total return is calculated as the change in net asset value (“NAV”) per share (assuming dividends and

(5)Operating expenses may vary in the future based on the amount of capital raised, the Adviser’s election to continue expense support, and other unpredictable variables. For the three months ended March 31, 2025, the total operating expenses to average net assets were 9.4%, 8.8% and 8.6%, for Class S, Class D, and Class I common stock, respectively, prior to management fee waivers, expense support provided by the Adviser, and expense recoupment paid to the Adviser, if any. For the three months ended March 31, 2024, the total operating expenses to average net assets were 11.2%, 11.0% and 10.3%, for Class S, Class D, and Class I common stock, respectively, prior to management fee waivers, expense support provided by the Adviser, and expense recoupment paid to the Adviser, if any. Past performance is not a guarantee of future results.