v3.25.2
Consolidated Statements of Operations - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
From non-controlled/non-affiliated investments:        
Interest income $ 27,213,943 $ 15,928,451 $ 49,784,982 $ 28,517,979
Dividend income 465,869 467,467 914,203 934,934
Fee income 66,285 34,392 144,163 90,003
Total investment income 27,746,097 16,430,310 50,843,348 29,542,916
Expenses:        
Interest and credit facility fees 7,112,700 5,703,127 13,266,980 11,003,701
Management fees 1,691,116 899,154 3,195,349 1,615,906
Income incentive fee 2,095,341 1,017,122 3,772,701 1,709,772
Capital gain incentive fees 477,946 (68,141) 90,495 72,984
Professional fees 803,476 622,133 1,833,145 1,222,284
Amortization of continuous offering costs 176,479 405,078 472,216 704,934
Administrative services expense 266,046 266,874 501,124 533,748
Amortization of deferred financing costs 202,256 171,595 366,452 343,189
Directors' fees and expenses 100,000 99,999 200,000 199,998
Other expenses 194,703 131,047 386,356 246,652
Total expenses 13,120,063 9,247,988 24,084,818 17,653,168
Expenses waived by the Advisor (Note 3) 0 (235,171) (162,124) (886,946)
Net expenses 13,120,063 9,012,817 23,922,694 16,766,222
Net investment income 14,626,034 [1] 7,417,493 [2],[3] 26,920,654 [1] 12,776,694 [2],[3]
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation), Non-controlled/non-affiliated investments     (1,673,696) (912,836)
Derivative instruments (Note 5) (371,995) 11,637 (1,053,020) 11,637
Foreign currency transactions 2,127,019 (10,005) 2,283,839 (10,005)
Net change in unrealized appreciation (depreciation) 3,994,306 [1] (1,149,056) [2],[3] (442,877) [1] (911,204) [2],[3]
Realized gain (loss):        
Realized gain (loss), Non-controlled/non-affiliated investments     1,838,528 1,658,790
Derivative instruments (Note 5) (1,083,416) 0 (1,083,416) 0
Foreign currency transactions 23,259 (1,621) 15,059 (1,621)
Net realized gain (loss) (561,667) [1] 610,459 [2],[3] 770,171 [1] 1,657,169 [2],[3]
Net realized and unrealized gain (loss) 3,432,639 (538,597) 327,294 745,965
Net increase (decrease) in net assets resulting from operations 18,058,673 [1] 6,878,896 [2],[3] 27,247,948 [1] 13,522,659 [2],[3]
Non-controlled/Non-affiliated Investments [Member]        
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation), Non-controlled/non-affiliated investments 2,239,282 (1,150,688) (1,673,696) (912,836)
Realized gain (loss):        
Realized gain (loss), Non-controlled/non-affiliated investments $ 498,490 $ 612,080 $ 1,838,528 $ 1,658,790
[1] There were no Class D shares outstanding as of June 30, 2025.
[2] Common Shares issued and outstanding as of June 30, 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.
[3] There were no Class S or Class D shares outstanding as of June 30, 2024.