v3.25.2
Consolidated Statements of Assets and Liabilities - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Investments at fair value    
Non-controlled/non-affiliated investments (cost of $993,128,586 and $751,106,426 at June 30, 2025 and December 31, 2024, respectively) $ 999,153,778 [1] $ 756,523,331 [2]
Cash and cash equivalents 17,502,873 13,437,972
Restricted cash and cash equivalents 34,502,151 24,305,322
Interest and fee receivable from non-controlled/non-affiliated investments 5,597,295 5,355,626
Deferred financing costs (net of $1,600,573 and $1,234,121 in accumulated amortization at June 30, 2025 and December 31, 2024, respectively) 3,925,103 4,291,555
Deferred offering costs (net of $2,743,184 and $2,270,968 in accumulated amortization at June 30, 2025 and December 31, 2024, respectively) 249,353 420,856
Receivable for investments sold 12,615,892 14,323,332
Derivative assets at fair value (Note 5) 0 319,195
Due from Advisor $ 0 $ 74,454
Accounts Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration] Advisor [Member] Advisor [Member]
Other assets $ 184,335 $ 56,250
Total assets 1,073,730,780 819,107,893
Liabilities    
Secured Credit Facility (Note 6) 457,104,745 342,685,745
Distribution Payable 0 13,468,268
Payable for investments purchased 36,441,663 5,529,326
Interest and credit facility fee payable 4,956,309 3,997,833
Income incentive fee payable 2,095,341 1,434,404
Management fees payable 1,691,115 1,317,398
Deferred financing costs payable 1,500,000 1,500,000
Accrued capital gains incentive fee 1,139,704 1,049,209
Derivative liabilities at fair value (Note 5) 733,825 0
Due to Advisor and affiliates $ 266,046 $ 270,203
Other Liability, Related Party [Extensible Enumeration] Advisor [Member] Advisor [Member]
Offering costs payable $ 47,849 $ 7,440
Accrued expenses and other liabilities 1,332,877 782,314
Total liabilities 507,309,474 372,042,140
Commitments and contingencies (Note 7)
Net Assets    
Common shares, $0.01 par value (28,060,980 and 22,106,186 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively) 280,610 221,062
Additional paid in capital 566,201,785 443,931,292
Distributable earnings (loss) (61,089) 2,913,399
Total net assets [3] 566,421,306 447,065,753
Total liabilities and net assets 1,073,730,780 819,107,893
Net Assets [3] $ 566,421,306 $ 447,065,753
Common Shares Outstanding 28,060,980 22,106,186
Class I Shares [Member]    
Net Assets    
Total net assets $ 566,362,224 [4] $ 447,065,753 [5],[6]
Net Assets $ 566,362,224 [4] $ 447,065,753 [5],[6]
Common Shares Outstanding 28,058,049 [4] 22,106,186 [5],[6]
Net Asset value per share $ 20.19 [4],[7] $ 20.22 [5],[6]
Class S Shares [Member]    
Net Assets    
Total net assets $ 59,082 [4] $ 0 [5],[6]
Net Assets $ 59,082 [4] $ 0 [5],[6]
Common Shares Outstanding 2,931 [4],[8] 0 [5],[6]
Net Asset value per share [8] $ 20.16 [4],[7] $ 0 [5],[6]
Class D Shares [Member]    
Net Assets    
Total net assets $ 0 [4] $ 0 [5],[6]
Net Assets $ 0 [4] $ 0 [5],[6]
Common Shares Outstanding 0 0 [5],[6]
Net Asset value per share $ 0 [4] $ 0 [5],[6]
[1] Unless otherwise indicated, issuers of debt and equity investments held by the Company are domiciled in the United States.
[2] Unless otherwise indicated, issuers of debt and equity investments held by the Company are domiciled in the United States.
[3] There were no Class D shares outstanding as of June 30, 2025.
[4] There were no Class D shares outstanding as of June 30, 2025
[5] Common Shares issued and outstanding as of June 23, 2024, were issued pursuant to the Private Offering. As part of the Public Offering effective June 24, 2024, the Common Shares issued pursuant to the Private Offering became Class I shares. Common Shares issued pursuant to the Private Offering are reclassified as Class I shares to conform with current period presentation.
[6] There were no Class S or Class D shares outstanding as of December 31, 2024.
[7] The net asset value per Common Share reflected in the Company's report on Form 8-K may differ due to updates from estimates to actuals.
[8] The date of first sale of Class S shares was May 1, 2025.