CONSOLIDATED FINANCIAL HIGHLIGHTS (Tables)

6 Months Ended

Jun. 30, 2025

The following is a schedule of consolidated financial highlights for the six months ended June 30, 2025:


	Six Months Ended June 30, 2025
	Class S			Class D			Class I
Per share data:
Net asset value, beginning of period	$	24.74		$	24.79		$	24.80
Net investment income (loss) (1)	1.20			1.30			1.32
Net realized gains (losses) (1)	(0.09)			(0.08)			(0.08)
Net change in unrealized appreciation (depreciation) (1)	(0.27)			(0.31)			(0.30)
Net increase (decrease) in net assets resulting from operations	0.84			0.91			0.94
Shareholder distributions (2)	(1.10)			(1.17)			(1.20)
Early repurchase deduction fees (8)	—			—			—
Other (3)	(0.01)			0.01			—
Net asset value, end of period	$	24.47		$	24.54		$	24.54

Supplemental Data:
Net assets, end of period	$	32,834		$	24,424		$	1,029,260
Shares outstanding, end of period	1,341,605			995,349			41,942,430
Total return (4)	3.41		%	3.78		%	3.87		%

Ratio to average net assets:
Ratio of net expenses to average net assets before expense support and waived fees (5)(6)	10.47		%	9.49		%	9.57		%
Ratio of net expenses to average net assets after expense support and waived fees (5)(6)	9.56		%	8.59		%	8.63		%
Ratio of net investment income (loss) to average net assets (5)	9.34		%	9.77		%	10.23		%
Portfolio turnover rate (7)	8.92		%	8.92		%	8.92		%
Asset coverage ratio (9)	221.45		%	221.45		%	221.45		%

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(1)The per share data was derived by using the weighted average shares outstanding during the period.

(2)The per share data for distributions reflects the actual amount of distributions declared during the period.

(3)Includes the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end.

(4)Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming distributions are reinvested in accordance with the Fund’s distribution reinvestment plan), divided by the beginning NAV per share. Total return does not include upfront transaction fees, if any. Total return is not annualized for period shorter than one year.

(5)Average net assets is calculated utilizing quarterly net assets. Ratio of net investment income (loss) to average net assets includes the effect of expense support and the waiver of 50% of the management fee and 100% of the income-based incentive fees. Ratios are annualized for periods less than one year. Management fee and income-based incentive fees waivers are accounted for through the expiration date of the waivers and are not annualized.

(6)The ratio of interest and debt financing expenses to average net assets for the six months ended June 30, 2025 was 6.45%, 6.24% and 6.41% for Class S, Class D, and Class I shares, respectively, and is annualized for periods less than one year.

(7)Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported.

(8)The per share amount rounds to less than $0.01 per share in connection with Class S, Class D and Class I repurchased shares during the period.

(9)Asset coverage ratio is equal to (i) the sum of (a) net assets at the end of the period and (b) debt outstanding at the end of the period divided by (ii) total debt outstanding at the end of the period.

The following is a schedule of consolidated financial highlights for the six months ended June 30, 2024:


	Six Months Ended June 30, 2024
	Class S			Class D			Class I
Per share data:
Net asset value, beginning of period	$	24.69		$	24.73		$	24.73
Net investment income (loss) (1)	1.26			1.33			1.37
Net realized gains (losses) (1)	0.01			0.01			0.01
Net change in unrealized appreciation (depreciation) (1)	(0.09)			(0.08)			(0.08)
Net increase (decrease) in net assets resulting from operations	1.18			1.26			1.30
Shareholder distributions (2)	(1.25)			(1.32)			(1.35)

Other (3)	0.02			0.01			0.01
Net asset value, end of period	$	24.64		$	24.68		$	24.69

Supplemental Data:
Net assets, end of period	$	12,261		$	14,150		$	701,367
Shares outstanding, end of period	497,605			573,355			28,411,932
Total return (4)	4.95		%	5.26		%	5.42		%

Ratio to average net assets:
Ratio of net expenses to average net assets before expense support and waived fees (5)(6)	6.15		%	5.56		%	4.86		%
Ratio of net expenses to average net assets after expense support and waived fees (5)(6)	3.66		%	2.94		%	2.57		%
Ratio of net investment income (loss) to average net assets (5)	11.14		%	11.87		%	11.33		%
Portfolio turnover rate (7)	9.33		%	9.33		%	9.33		%
Asset coverage ratio (8)	691.70		%	691.70		%	691.70		%

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(1)The per share data was derived by using the weighted average shares outstanding during the period.

(2)The per share data for distributions reflects the actual amount of distributions declared during the period.

(5)Ratios are annualized except for management fees and incentive fees which were calculated from the Escrow Break Date and were fully waived for the year ended June 30, 2024 (Refer to Note 5). Average net assets is calculated utilizing quarterly net assets. Ratio of net investment income (loss) to average net assets includes the effect of expense support and waived management fee and incentive fee.

(6)The ratio of interest and debt financing expenses to average net assets for the year ended June 30, 2024 was 1.76%, 1.62% and 1.66% for Class S, Class D, and Class I shares, respectively, and is annualized for period (s) less than one year.

(7)Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported.

(8)Asset coverage ratio is equal to (i) the sum of (a) net assets at the end of the period and (b) debt outstanding at the end of the period divided by (ii) total debt outstanding at the end of the period.