v3.25.2
RELATED PARTY TRANSACTIONS - Narrative (Details)
3 Months Ended 6 Months Ended
May 28, 2024
Mar. 31, 2022
Jun. 30, 2025
USD ($)
member
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
member
part
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Related Party Transaction [Line Items]              
Management fees (Note 5)     $ 1,837,000 $ 1,084,000 $ 3,439,000 $ 1,773,000  
Management fees payable     955,000   955,000   $ 745,000
Administrative fees     403,000 200,000 832,000 366,000  
Servicing fees payable     30,000   30,000    
Unpaid servicing fees     $ 37,000   $ 37,000   26,000
Number of independent directors | member     4   4    
Directors' fees     $ 126,000 127,000 $ 257,000 252,000  
Board of Trustees' fees payable     127,000   127,000   325,000
Accounts payable and accrued expenses     2,853,000   2,853,000   2,913,000
Common Class S              
Related Party Transaction [Line Items]              
Distribution and shareholder servicing fees     62,000 24,000 108,000 38,000  
Common Class D              
Related Party Transaction [Line Items]              
Distribution and shareholder servicing fees     12,000 8,000 22,000 12,000  
Affiliated Entity              
Related Party Transaction [Line Items]              
Management fees (Note 5)     594,000 865,000 1,395,000 1,554,000  
Income based incentive fees     3,947,000 2,391,000 7,823,000 4,146,000  
Income based incentive fees waived     2,643,000   6,519,000    
Income based incentive fee payable     1,304,000   $ 1,304,000   0
Investment Advisory Agreements | Affiliated Entity              
Related Party Transaction [Line Items]              
Related party transaction, initial term 2 years            
Related party transaction, period of written notice 120 days            
Related party transaction period of written notice by fund 60 days            
Number of components | part         2    
Base Management Fee | Affiliated Entity              
Related Party Transaction [Line Items]              
Base management fee (as a percent)         0.75%    
Management fees (Note 5)     1,837,000 1,084,000 $ 3,439,000 1,773,000  
Management fees payable     955,000   955,000   745,000
Quarterly Hurdle Rate | Affiliated Entity              
Related Party Transaction [Line Items]              
Incentive fee percentage 1.50%            
Annualized Hurdle Rate | Affiliated Entity              
Related Party Transaction [Line Items]              
Incentive fee percentage 6.00%            
Pre-Incentive Fee Net Investment Income Below Catch-Up Threshold | Affiliated Entity              
Related Party Transaction [Line Items]              
Incentive fee percentage 100.00%            
Quarterly Catch-Up Threshold | Affiliated Entity              
Related Party Transaction [Line Items]              
Incentive fee percentage 1.76%            
Investment Advisory Agreement - Incentive Rate, Annualized Catch-Up Threshold | Affiliated Entity              
Related Party Transaction [Line Items]              
Incentive fee percentage 7.06%            
Pre-Incentive Fee Net Investment Income Exceeds Catch-Up Threshold | Affiliated Entity              
Related Party Transaction [Line Items]              
Incentive fee percentage 15.00%            
Realized Capital Gains | Affiliated Entity              
Related Party Transaction [Line Items]              
Incentive fee percentage 15.00%            
CAM Sub-Advisory Agreement | Affiliated Entity              
Related Party Transaction [Line Items]              
Management and service fees, rate 70.00%            
NAM Sub-Advisory Agreement | Affiliated Entity              
Related Party Transaction [Line Items]              
Management and service fees, rate 50.00% 0.375%          
Sub-Advisory Agreement | Affiliated Entity              
Related Party Transaction [Line Items]              
Related party transaction, initial term 2 years            
Administrative Agreement | Affiliated Entity              
Related Party Transaction [Line Items]              
Administrative fees     403,000 $ 200,000 832,000 $ 366,000  
Administration fees payable     576,000   576,000   383,000
Intermediary Manager Agreement | Affiliated Entity              
Related Party Transaction [Line Items]              
Related party transaction period of written notice by fund   60 days          
Percentage of shareholder servicing fees, proceeds from sale of such share   10.00%          
Percentage of underwriting compensation, net   10.00%          
Percentage of expense, proceeds from offering   15.00%          
Intermediary Manager Agreement | Affiliated Entity | Common Class S              
Related Party Transaction [Line Items]              
Shareholder servicing fees monthly, annual rate   0.85%          
Intermediary Manager Agreement | Affiliated Entity | Common Class D              
Related Party Transaction [Line Items]              
Shareholder servicing fees monthly, annual rate   0.25%          
Expense Support Agreement              
Related Party Transaction [Line Items]              
Related party transaction, expense payment period   45 days          
Expense Support Agreement | Affiliated Entity              
Related Party Transaction [Line Items]              
Related party transaction, period of reimbursement payment   3 years          
Adviser and Churchill | Affiliated Entity              
Related Party Transaction [Line Items]              
Accounts payable and accrued expenses     $ 1,356,000   $ 1,356,000   $ 886,000