v3.25.2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities:    
Net increase (decrease) in net assets resulting from operations $ 21,221 $ 3,044
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used for) operating activities:    
Purchases of investments (325,206) (165,529)
Proceeds from sale of investments and principal repayments 13,338 0
Net change in unrealized (appreciation) depreciation on investments (528) 198
Net accretion of discount (1,179) (130)
Amortization of deferred financing costs 1,109 429
Amortization of deferred offering costs 0 788
Payment-in-kind interest capitalized (978) (112)
Changes in operating assets and liabilities:    
Expense reimbursement receivable 0 1,358
Interest and other income receivable from non-controlled/non-affiliated investments (4,117) (280)
Prepaid assets 133 108
Other liabilities and accrued expenses 210 1,005
Interest payable 2,265 149
Accrued organizational costs 0 (40)
Due to affiliate 0 (87)
Payable for securities purchased 159 0
Management fees payable 697 234
Expense reimbursement payable (108) 0
Net investment income incentive fee payable 578 0
Capital gains income incentive fee payable 52 0
Accrued administrative services expense payable 195 (1,769)
Net cash provided by (used for) operating activities (292,159) (160,634)
Cash Flows From Financing Activities:    
Proceeds from issuance of common shares 122,083 75,534
Distributions paid in cash (20,454) (1,740)
Change in subscription receivable 55 0
Deferred financing costs paid (1,138) (959)
Borrowings on debt 499,270 294,780
Payment of debt (292,990) (119,980)
Net cash provided by (used for) financing activities 306,826 247,635
Net increase (decrease) in cash and cash equivalents 14,667 87,001
Cash and cash equivalents, beginning of period 12,923 67,664
Cash and cash equivalents, end of period 27,590 154,665
Supplemental disclosure of cash flow and non-cash activities:    
Interest paid during the period 14,573 1,404
Reinvestment of distributions during the period 8,746 803
Excise tax paid during the period $ 137 $ 2