v3.25.2
Consolidated Financial Highlights
 6 Months Ended
Jun. 30, 2025
Investment Company, Financial Highlights [Abstract]  
Consolidated Financial Highlights
Note 8 – Consolidated Financial Highlights
 
 
  
For the six months ended
June 30, 2025
Class NAV
 
 
For the six months ended
June 30, 2024
Class NAV
 
Per share operating performance
     
Net asset value, beginning of period
   
$
20.80
 
  
$
20.74
 
 
 
 
 
 
 
 
 
 
Net investment income
(1)
      0.85       0.79  
Net realized and unrealized gain (loss) on investments
      (0.15 )      0.14  
 
 
 
 
 
 
 
 
 
Total from investment operations
   
 
0.70
 
  
 
0.93
 
 
 
 
 
 
 
 
 
 
Less distributions to common shareholders
     
From investment income
      (0.76 )      (0.60 ) 
 
 
 
 
 
 
 
 
 
Total distributions
   
 
(0.76
) 
  
 
(0.60
) 
 
 
 
 
 
 
 
 
 
Net asset value, end of period
   
$
20.74
 
  
$
21.07
 
 
 
 
 
 
 
 
 
 
Total return (%)
(2)
   
 
3.22
 % 
(3)
 		  
 
4.53
%
 
(3)
 
Ratios and supplemental data
     
Net assets, end of period (in millions)
    $ 171     $ 113  
Ratios (as a percentage of average net assets):
     
Expenses before reductions
      6.87 % 
(4)
 		     4.13 % 
(5)
 
Expenses including reductions
      6.18 % 
(4)
 		     2.39 % 
(5)
 
Interest and credit facility expenses
      3.42 % 
(4)
 		     —   
Incentive fees
      1.21 % 
(4)
 		     —   
Expenses including reductions (excluding interest and credit facility expenses and incentive fees)
      1.54 % 
(4)
 		     1.50 % 
(5)
 
Net investment income
      8.22 % 
(4)
 		     7.45 % 
(5)
 
Portfolio turnover
      5 %      2 % 
Total debt outstanding end of period (in millions)
    $ 49     $ 2  
Asset coverage per $1,000 of debt, end of period
(6)
    $ 4,487     $ 57,467  
 
(1)
Based on average monthly shares outstanding.
(2)
Total return would have been lower had certain expenses not been reduced during the applicable period.
(3)
Not annualized.
(4)
Annualized.
(5)
Annualized. Certain expenses have been presented unannualized.
(6)
Asset coverage equals the total net assets plus borrowings divided by the borrowings of the Fund outstanding at period end (Note 5). As debt outstanding changes, the level of invested assets may change accordingly. Asset coverage ratio provides a measure of leverage.