v3.25.2
Consolidated Statements of Assets and Liabilities (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments, at fair value    
Non-controlled non-affiliated investments (cost of $286,803) $ 287,570 [1],[2],[3],[4] $ 0
Cash and cash equivalents 349,252 10
Interest receivable 122 0
Total assets 636,944 10
Liabilities    
Secured borrowings (net of deferred financing costs of $429 and $0, respectively) 315,827 0
Debt (net of deferred financing costs of $4,306 and $0, respectively) 28,130 0
Interest and other debt financing costs payable 604 0
Management fees payable 157 0
Accrued expenses and other liabilities 1,131 0
Total liabilities 345,849 0
Commitments and Contingencies (Note 7)
Net assets    
Common Units, no par value; (10 units issued, authorized and outstanding) 285,010 10
Accumulated earnings (loss) 6,085 0
Total net assets 291,095 10
Total liabilities and net assets $ 636,944 $ 10
Net asset value per unit $ 29,109,500 $ 1,000
[1] All debt investments are income-producing, unless otherwise noted. Equity and member interests are non-income-producing unless otherwise noted. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Its investments are therefore generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act.
[2] All positions held are non-controlled/non-affiliated investments, unless otherwise noted. Non-controlled/non-affiliated investments are investments that are neither controlled nor affiliated as each such term is defined in the Investment Company Act of 1940, as amended (the "1940 Act").
[3] The fair value of the investment was determined using significant unobservable inputs unless otherwise noted. See Note 2 “Summary of Significant Accounting Policies”.
[4] Unless otherwise indicated, the Company’s portfolio companies are not pledged as collateral supporting the amounts outstanding under the JPM Funding Facility. See Note 6 “Debt.”