NET ASSETS (Tables)
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6 Months Ended |
Jun. 30, 2025 |
Investment Company [Abstract] |
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Schedule of Transactions in Common Shares |
The following table presents transactions in Common Shares during the three months ended June 30, 2025 (dollars in thousands except share amounts): | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | Shares | | Amount | CLASS S | | | | | Subscriptions | | 393,583 | | | $ | 9,662 | | Share transfers between classes | | — | | | — | | Distributions reinvested | | 8,652 | | | 212 | | Share repurchases, net of early repurchase deduction | | (1,257) | | | (31) | | Net increase (decrease) | | 400,978 | | | $ | 9,843 | | CLASS D | | | | | Subscriptions | | 124,957 | | | $ | 3,077 | | Share transfers between classes | | (123) | | | (3) | | Distributions reinvested | | 13,453 | | | 332 | | Share repurchases, net of early repurchase deduction | | (4,634) | | | (113) | | Net increase (decrease) | | 133,653 | | | $ | 3,293 | | CLASS I | | | | | Subscriptions | | 6,603,294 | | | $ | 162,612 | | Share transfers between classes | | 122 | | | 3 | | Distributions reinvested | | 413,951 | | | 10,203 | | Share repurchases, net of early repurchase deduction | | (209,244) | | | (5,131) | | Net increase (decrease) | | 6,808,123 | | | $ | 167,687 | |
The following table presents transactions in Common Shares during the six months ended June 30, 2025 (dollars in thousands except share amounts): | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | Shares | | Amount | CLASS S | | | | | Subscriptions | | 583,230 | | | $ | 14,347 | | Share transfers between classes | | (4,050) | | | (100) | | Distributions reinvested | | 14,191 | | | 349 | | Share repurchases, net of early repurchase deduction | | (1,257) | | | (31) | | Net increase (decrease) | | 592,114 | | | $ | 14,565 | | CLASS D | | | | | Subscriptions | | 170,879 | | | $ | 4,214 | | Share transfers between classes | | (5,807) | | | (144) | | Distributions reinvested | | 26,027 | | | 643 | | Share repurchases, net of early repurchase deduction | | (10,101) | | | (248) | | Net increase (decrease) | | 180,998 | | | $ | 4,465 | | CLASS I | | | | | Subscriptions | | 9,856,478 | | | $ | 243,224 | | Share transfers between classes | | 9,844 | | | 244 | | Distributions reinvested | | 777,333 | | | 19,203 | | Share repurchases, net of early repurchase deduction | | (451,368) | | | (11,096) | | Net increase (decrease) | | 10,192,287 | | | $ | 251,575 | |
The following table presents transactions in Common Shares during the three months ended June 30, 2024 (dollars in thousands except share amounts): | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | | | Shares | | Amount | CLASS S | | | | | Subscriptions | | 155,947 | | | $ | 3,832 | | Share transfers between classes | | — | | | — | | Distributions reinvested | | 3,804 | | | 94 | | Share repurchases, net of early repurchase deduction | | — | | | — | | Net increase (decrease) | | 159,751 | | | $ | 3,926 | | CLASS D | | | | | Subscriptions | | 203,840 | | | $ | 5,019 | | Share transfers between classes | | — | | | — | | Distributions reinvested | | 7,875 | | | 194 | | Share repurchases, net of early repurchase deduction | | — | | | — | | Net increase (decrease) | | 211,715 | | | $ | 5,213 | | CLASS I | | | | | Subscriptions | | 9,612,049 | | | $ | 236,716 | | Share transfers between classes | | — | | | — | | Distributions reinvested | | 176,547 | | | 4,350 | | Share repurchases, net of early repurchase deduction | | (13,380) | | | (324) | | Net increase (decrease) | | 9,775,216 | | | $ | 240,742 | |
The following table presents transactions in Common Shares during the six months ended June 30, 2024 (dollars in thousands except share amounts): | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | | Shares | | Amount | CLASS S | | | | | Subscriptions | | 346,112 | | | $ | 8,530 | | Share transfers between classes | | (4,107) | | | (101) | | Distributions reinvested | | 5,762 | | | 142 | Share repurchases, net of early repurchase deduction | | — | | | — | | Net increase (decrease) | | 347,767 | | | $ | 8,571 | | CLASS D | | | | | Subscriptions | | 455,109 | | | $ | 11,234 | | Share transfers between classes | | — | | | — | | Distributions reinvested | | 10,980 | | | 271 | Share repurchases, net of early repurchase deduction | | — | | | — | | Net increase (decrease) | | 466,089 | | | $ | 11,505 | | CLASS I | | | | | Subscriptions | | 14,111,476 | | | $ | 348,064 | | Share transfers between classes | | 4,104 | | | 101 | | Distributions reinvested | | 229,673 | | | 5,664 | | Share repurchases, net of early repurchase deduction | | (24,707) | | | (597) | | Net increase (decrease) | | 14,320,546 | | | $ | 353,232 | |
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Schedule of Net Offering Price Per Share |
The following tables present each month-end net offering price for Class S, Class D, and Class I Common Shares, which approximately equals their respective NAV per share, for the six months ended June 30, 2025 and 2024:
| | | | | | | | | | | | | | | | | | | | | | | Net Offering Price Per Share | For The Months Ended | | Class S | | Class D | | Class I | January 31, 2025 | | $24.75 | | $24.80 | | $24.81 | February 28, 2025 | | $24.64 | | $24.69 | | $24.70 | March 31, 2025 | | $24.58 | | $24.63 | | $24.64 | April 30, 2025 | | $24.54 | | $24.59 | | $24.60 | May 31, 2025 | | $24.58 | | $24.63 | | $24.63 | June 30, 2025 | | $24.47 | | $24.54 | | $24.54 |
| | | | | | | | | | | | | | | | | | | | | | | Net Offering Price Per Share | For the Months Ended | | Class S | | Class D | | Class I | January 31, 2024 | | $24.71 | | $24.73 | | $24.74 | February 29, 2024 | | $24.72 | | $24.75 | | $24.75 | March 31, 2024 | | $24.58 | | $24.61 | | $24.62 | April 30, 2024 | | $24.59 | | $24.63 | | $24.63 | May 31, 2024 | | $24.60 | | $24.64 | | $24.65 | June 30, 2024 | | $24.64 | | $24.68 | | $24.69 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Schedule of Fund Distributions and Cash Distributions Declared |
The following tables summarize the Fund’s distributions recorded during the six months ended June 30, 2025 (dollars in thousands except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class S | Declaration Date | | Record Date | | Payment Date | | Distribution per Share (1) | | Distribution Amount | January 29, 2025 | | January 31, 2025 | | February 28, 2025 | | $0.183 | | $156 | February 27, 2025 | | February 28, 2025 | | March 28, 2025 | | $0.183 | | $162 | March 28, 2025 | | March 31, 2025 | | April 29, 2025 | | $0.183 | | $172 | April 26, 2025 | | April 30, 2025 | | May 29, 2025 | | $0.183 | | $183 | May 27, 2025 | | May 31, 2025 | | June 27, 2025 | | $0.183 | | $229 | June 27, 2025 | | June 30, 2025 | | July 29, 2025 | | $0.183 | | $246 | Total | | | | | | $1.098 | | $1,148 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class D | Declaration Date | | Record Date | | Payment Date | | Distribution per Share (1) | | Distribution Amount | January 29, 2025 | | January 31, 2025 | | February 28, 2025 | | $0.195 | | $162 | February 27, 2025 | | February 28, 2025 | | March 28, 2025 | | $0.195 | | $165 | March 28, 2025 | | March 31, 2025 | | April 29, 2025 | | $0.195 | | $170 | April 26, 2025 | | April 30, 2025 | | May 29, 2025 | | $0.195 | | $173 | May 27, 2025 | | May 31, 2025 | | June 27, 2025 | | $0.195 | | $177 | June 27, 2025 | | June 30, 2025 | | July 29, 2025 | | $0.195 | | $195 | Total | | | | | | $1.170 | | $1,042 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class I | Declaration Date | | Record Date | | Payment Date | | Distribution per Share | | Distribution Amount | January 29, 2025 | | January 31, 2025 | | February 28, 2025 | | $0.200 | | $6,741 | February 27, 2025 | | February 28, 2025 | | March 28, 2025 | | $0.200 | | $6,901 | March 28, 2025 | | March 31, 2025 | | April 29, 2025 | | $0.200 | | $7,076 | April 26, 2025 | | April 30, 2025 | | May 29, 2025 | | $0.200 | | $7,622 | May 27, 2025 | | May 31, 2025 | | June 27, 2025 | | $0.200 | | $8,019 | June 27, 2025 | | June 30, 2025 | | July 29, 2025 | | $0.200 | | $8,430 | Total | | | | | | $1.200 | | $44,789 |
_______________ (1)Distributions are net of distribution and servicing fees.
The following tables summarize the Fund’s distributions recorded during the six months ended June 30, 2024 (dollars in thousands except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class S | Declaration Date | | Record Date | | Payment Date | | Distribution per Share (1) | | Distribution Amount | January 26, 2024 | | January 31, 2024 | | February 28, 2024 | | $0.233 | | $51 | February 28, 2024 | | February 29, 2024 | | March 28, 2024 | | $0.233 | | $60 | March 28, 2024 | | March 31, 2024 | | April 29, 2024 | | $0.233 | | $79 | April 26, 2024 | | April 30, 2024 | | May 28, 2024 | | $0.183 | | $70 | May 29, 2024 | | May 31, 2024 | | June 28, 2024 | | $0.183 | | $87 | June 28, 2024 | | June 30, 2024 | | July 29, 2024 | | $0.183 | | $91 | Total | | | | | | $1.248 | | $438 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class D | Declaration Date | | Record Date | | Payment Date | | Distribution per Share (1) | | Distribution Amount | January 26, 2024 | | January 31, 2024 | | February 28, 2024 | | $0.245 | | $39 | February 28, 2024 | | February 29, 2024 | | March 28, 2024 | | $0.245 | | $59 | March 28, 2024 | | March 31, 2024 | | April 29, 2024 | | $0.245 | | $89 | April 26, 2024 | | April 30, 2024 | | May 28, 2024 | | $0.195 | | $90 | May 29, 2024 | | May 31, 2024 | | June 28, 2024 | | $0.195 | | $105 | June 28, 2024 | | June 30, 2024 | | July 29, 2024 | | $0.195 | | $112 | Total | | | | | | $1.320 | | $494 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class I | Declaration Date | | Record Date | | Payment Date | | Distribution per Share | | Distribution Amount | January 26, 2024 | | January 31, 2024 | | February 28, 2024 | | $0.250 | | $3,626 | February 28, 2024 | | February 29, 2024 | | March 29, 2024 | | $0.250 | | $3,735 | March 28, 2024 | | March 31, 2024 | | April 29, 2024 | | $0.250 | | $4,661 | April 26, 2024 | | April 30, 2024 | | May 28, 2024 | | $0.200 | | $4,382 | May 29, 2024 | | May 31, 2024 | | June 28, 2024 | | $0.200 | | $5,577 | June 28, 2024 | | June 30, 2024 | | July 29, 2024 | | $0.200 | | $5,685 | Total | | | | | | $1.350 | | $27,666 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
_______________ (1)Distributions are net of distribution and servicing fees. The following table reflects the source of cash distributions on a U.S. GAAP basis that the Fund has declared on its Common Shares for the six months ended June 30, 2025 (dollars in thousands except share and per share amounts):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class S | | Class D | | Class I | Sources of Distribution | | Per Share | | Amount | | Per Share | | Amount | | Per Share | | Amount | Net investment income | | $1.098 | | $1,148 | | $1.170 | | $1,042 | | $1.200 | | $44,789 | Net realized gains | | $— | | $— | | $— | | $— | | $— | | $— | Total | | $1.098 | | $1,148 | | $1.170 | | $1,042 | | $1.200 | | $44,789 |
The following table reflects the source of cash distributions on a U.S. GAAP basis that the Fund has declared on its Common Shares for the six months ended June 30, 2024 (dollars in thousands except share and per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class S | | Class D | | Class I | Sources of Distribution | | Per Share | | Amount | | Per Share | | Amount | | Per Share | | Amount | Net investment income | | $1.248 | | $438 | | $1.320 | | $494 | | $1.350 | | $27,666 | Net realized gains | | $— | | $— | | $— | | $— | | $— | | $— | Total | | $1.248 | | $438 | | $1.320 | | $494 | | $1.350 | | $27,666 |
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Schedule of Share Repurchases |
The following table presents the share repurchases completed for the six months ended June 30, 2025 (dollars in thousands except share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Offer Date | | Class | | Tender Offer Expiration | | Repurchase Price per share | | Repurchased Amount (1) | | Shares Repurchased (2) | February 28, 2025 | | Class I | | March 28, 2025 | | $ | 24.64 | | | $ | 5,965 | | | 242,124 | | February 28, 2025 | | Class D | | March 28, 2025 | | $ | 24.63 | | | $ | 135 | | | 5,467 | | May 30, 2025 | | Class I | | June 30, 2025 | | $ | 24.54 | | | $ | 5,131 | | | 209,244 | | May 30, 2025 | | Class D | | June 30, 2025 | | $ | 24.54 | | | $ | 113 | | | 4,634 | | May 30, 2025 | | Class S | | June 30, 2025 | | $ | 24.47 | | | $ | 31 | | | 1,257 | |
_______________ (1)Amount shown is net of Early Repurchase Deduction. (2)All repurchase requests were satisfied in full. The following table presents the share repurchases completed for the six months ended June 30, 2024 (dollars in thousands except share and per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Offer Date | | Class | | Tender Offer Expiration | | Repurchase Price per share | | Repurchased Amount (1) | | Shares Repurchased (2) | February 29, 2024 | | Class I | | March 29, 2024 | | $ | 24.62 | | | $ | 273 | | | 11,327 | | May 30, 2024 | | Class I | | June 28, 2024 | | $ | 24.69 | | | $ | 324 | | | 13,380 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
_______________ (1)Amount shown is net of Early Repurchase Deduction. (2)All repurchase requests were satisfied in full.
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