Financial Highlights (Tables)

6 Months Ended

Jun. 30, 2025

Investment Company, Financial Highlights [Abstract]

The following is a schedule of financial highlights for the six months ended June 30, 2025 and 2024:


	Six Months Ended June 30,
	2025			2024
Per share data:
Net asset value, beginning of period	$	23.39		$	24.36
Results of operations:
Net investment income (loss) (1)		1.33			1.53
Net realized and unrealized gain (loss) (2)		(1.15	)		(0.44	)
Net increase (decrease) in net assets resulting from operations (1)		0.18			1.09
Shareholder distributions: (3)
Distributions from net investment income		(1.09	)		(1.47	)
Net decrease in net assets resulting from shareholder distributions		(1.09	)		(1.47	)
Net asset value, end of period	$	22.48		$	23.98
Shares outstanding, end of period		10,295,385			10,514,884
Total return based on net asset value (4)		0.8	%		4.5	%
Ratio/Supplemental Data:
Net assets, end of period	$	231,447,457		$	252,106,718
Ratio of net investment income (loss) after excise tax to average net assets (5)		11.84	%		13.46	%
Ratio of total expenses after excise tax to average net assets (5)		9.74	%		11.53	%
Ratio of net expenses after excise tax to average net assets (5)		9.74	%		11.72	%
Average debt outstanding	$	252,351,648		$	256,704,918
Portfolio turnover		23	%		14	%
Total amount of senior securities outstanding	$	259,000,000		$	226,000,000
Asset coverage per unit (6)	$	1,894		$	2,116

(1)

The per share data was derived using weighted average shares outstanding during the period.

(2)

The amount shown at this caption is the balancing figure derived from the other figures in the schedule. The amount shown at this caption is derived from total change in net asset value during the period and differs from the amount calculated using average shares because of the timing of issuances of the Company’s shares in relation to changes in net asset value during the period.

(3)

The per share data for distributions reflects the actual amount of distributions paid during the period.

(4)

Total return based on net asset value is calculated as the change in net asset value per share during the period, and reflects reinvestment of any distributions to common shareholders. Total return is not annualized.

(5)

The computation of average net assets during the period is based on averaging net assets for the period reported. Ratio, excluding incentive fees, and nonrecurring expenses and waivers, such as organization and offering costs and reimbursement of expense support to the Prior Adviser, is annualized. Net expenses include reimbursement of expense support to the Prior Adviser for the six months ended June 30, 2024.

(6)

Asset coverage per unit is the ratio of the carrying value of the Company’s consolidated total assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis.