| Schedule of financial highlights |
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|
|
|
| |
|
For the
period from the
Commencement of
Operations through
March 31,
2025 |
|
| |
|
Common Shares |
|
| Per Share Activity |
|
|
|
|
| Net asset value, beginning of period |
|
$ |
25.00 |
|
| Net investment income (loss)1 |
|
|
0.15 |
|
| Net realized and unrealized gain (loss)1 |
|
|
0.00 |
|
| Net increase (decrease) in net assets resulting from operations |
|
|
0.15 |
|
| Distribution paid (declared) to shareholders2 |
|
|
(0.14 |
) |
| Net asset value, end of period |
|
$ |
25.01 |
|
| Total return3 |
|
|
0.58 |
% |
| Number of Shares outstanding as of March 31, 2025 |
|
|
2,723,631 |
|
| Ratios to Average Net Assets: |
|
|
|
|
| Net assets, end of period |
|
$ |
68,121,119 |
|
| Ratio of net investment income (loss) to average net assets4 |
|
|
10.78 |
% |
| Ratio of total expenses to average net assets4 |
|
|
4.89 |
% |
| Ratio of total expenses, excluding incentive fees4 |
|
|
4.78 |
% |
| Portfolio turnover5 |
|
|
0.00 |
% |
| 2 |
Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that fiscal year, a portion of those distributions may be deemed a tax return of capital to the Company’s shareholders. The tax character of distributions will be determined at the end of the fiscal year. However, if the character of such distributions were determined as of March 31, 2025, none of the distributions would have been characterized as a tax return of capital to the Company’s shareholders; this tax return of capital may differ from the return of capital calculated with reference to net investment income for financial reporting purposes. |
| 3 |
Total return is not annualized and represents the total return for the period from the Commencement of Operations through March 31, 2025. Total return displayed is net of all fees, including all operating expenses such as management fees, incentive fees, and general and administrative expenses. Total return is calculated as the change in net asset value (“NAV”) per Share during the period plus declared distributions per share during the period, divided by the beginning NAV per Share (which for the purposes of this calculation is equal to the net offering price in effect at that time). |
| 4 |
The ratio reflects an annualized amount, except in the case of non-recurring expenses (i.e., incentive fees, business licenses and permits fees). |
| 5 |
No investments were sold during the period. |