v3.25.2
CONDENSED CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED) (Parenthetical)
Jun. 30, 2025
Dec. 31, 2024
Fair Value Percentage of Net Assets 103.20% [1],[2],[3] 92.70% [4],[5],[6]
OTHER ASSETS IN EXCESS OF LIABILITIES (as a percent) (3.20%) [1],[2],[3] 7.30% [4],[5],[6]
NET ASSETS (as a percent) 100.00% [1],[2],[3] 100.00% [4],[5],[6]
LOCI Topoco Limited    
Fair Value Percentage of Net Assets 7.80% 5.10%
First lien    
Fair Value Percentage of Net Assets 6.90% [1],[2],[3] 5.40% [4],[5],[6]
First lien | Engineered Products    
Variable rate   4.53%
First lien | Lawn Doctor, Inc. | Commercial and Professional Services    
Variable rate 4.60% 4.60%
First lien | Vektek Holdings, LLC | Engineered Products    
Variable rate 4.32% 4.35%
Secured    
Fair Value Percentage of Net Assets 11.20% [1],[2],[3] 12.10% [4],[5],[6]
Second lien    
Fair Value Percentage of Net Assets 5.80% [1],[2],[3] 6.20% [4],[5],[6]
Investment, interest rate, paid in kind [1],[2],[3] 1.40%  
Senior Secured PIK Notes | LOCI Topoco Limited 12.0% PIK 1    
OTHER ASSETS IN EXCESS OF LIABILITIES (as a percent) [1],[2],[3],[7],[8],[9] 12.00%  
Senior Secured PIK Notes | LOCI Topoco Limited 12.0% PIK 2    
OTHER ASSETS IN EXCESS OF LIABILITIES (as a percent) [1],[2],[3],[7],[8],[10] 12.00%  
Preferred Equity    
Fair Value Percentage of Net Assets 5.90% [1],[2],[3] 5.00% [4],[5],[6]
Preferred Equity | LOCI Topoco Limited    
Investment, interest rate, paid in kind [4],[5],[6],[11],[12]   8.50%
Preferred Equity | LOCI Topoco Limited 8.5% PIK    
Investment, interest rate, paid in kind [1],[2],[3],[7],[8] 8.50%  
Preferred Equity | LOCI Topoco Limited 12.0% PIK    
Investment, interest rate, paid in kind [1],[2],[3],[7],[8] 12.00%  
Common Equity, Investment    
Fair Value Percentage of Net Assets 72.00% [1],[2],[3] 64.00% [4],[5],[6]
[1] All investments are US based unless otherwise noted.
[2] Percentages represent fair value as a percentage of net assets for each investment category.
[3] Security may be an obligation of one or more entities affiliated with the named company.
[4] All investments are US based unless otherwise noted.
[5] Percentages represent fair value as a percentage of net assets for each investment category.
[6] Security may be an obligation of one or more entities affiliated with the named company.
[7] LBR is headquartered in the United Kingdom. LBR investment represents 7.8% of net assets based on fair value as of June 30, 2025.
[8] PIK interest and dividend income is computed at the contractual rate in each applicable agreement and is accrued and recorded as interest income and dividend income, respectively, and capitalized to the principal balance.
[9] Represents Tranche A2 PIK Notes, which rank third after the Tranche A1 PIK Notes issued by LOCI Midco 1 Limited (subsidiary of LOCI TopCo Limited).
[10] Represents Tranche B2 PIK Notes, which rank fourth after the Tranche A1 PIK Notes issued by LOCI Midco I Limited (subsidiary of LOCI TopCo Limited).
[11] LBR is headquartered in the United Kingdom. LBR investment represents 5.10% of net assets based on fair value as of December 31, 2024.
[12] PIK dividend income is computed at the contractual rate in each applicable agreement and is accrued and recorded as dividend income and capitalized to the principal balance.