| Schedule of Outstanding Borrowing |
The Fund’s outstanding borrowings as of June 30, 2025 and December 31, 2024 were as follows:
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June 30, 2025 |
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Aggregate Principal Committed |
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Outstanding Principal |
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Carrying Value (net of unamortized issuance costs) |
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Unamortized Debt Issuance Costs |
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Unused Portion |
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JPMorgan Lending Facility |
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$ |
1,130,000,000 |
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$ |
157,433,817 |
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$ |
157,433,817 |
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$ |
— |
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$ |
972,566,183 |
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BSPV Facility |
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400,000,000 |
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300,000,000 |
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300,000,000 |
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— |
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100,000,000 |
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CSPV Facility |
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250,000,000 |
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214,000,000 |
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214,000,000 |
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— |
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36,000,000 |
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Series 2025A Notes |
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105,000,000 |
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105,000,000 |
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103,733,859 |
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1,266,141 |
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— |
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Series 2025B Notes |
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105,000,000 |
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105,000,000 |
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103,724,805 |
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1,275,195 |
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— |
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Total |
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$ |
1,990,000,000 |
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$ |
881,433,817 |
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$ |
878,892,481 |
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$ |
2,541,336 |
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$ |
1,108,566,183 |
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December 31, 2024 |
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Aggregate Principal Committed |
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Outstanding Principal |
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Carrying Value (net of unamortized issuance costs) |
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Unamortized Debt Issuance Costs |
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Unused Portion |
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JPMorgan Lending Facility |
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$ |
500,000,000 |
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$ |
434,070,855 |
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$ |
434,070,855 |
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$ |
— |
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$ |
65,929,145 |
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BSPV Facility |
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250,000,000 |
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172,000,000 |
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172,000,000 |
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— |
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78,000,000 |
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CSPV Facility |
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250,000,000 |
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5,000,000 |
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5,000,000 |
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— |
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245,000,000 |
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Total |
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$ |
1,000,000,000 |
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$ |
611,070,855 |
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$ |
611,070,855 |
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$ |
— |
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$ |
388,929,145 |
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| Schedule of Components of Interest Expense |
For the three and six months ended June 30, 2025 and 2024 the components of interest expense were as follows:
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Three Months Ended June 30, |
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2025 |
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2024 |
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Borrowing interest expense |
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$ |
14,600,898 |
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$ |
5,589,634 |
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Facility unused fees |
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748,917 |
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169,706 |
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Amortization of deferred financing and debt issuance costs |
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820,257 |
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305,908 |
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Total Interest Expense |
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$ |
16,170,072 |
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$ |
6,065,248 |
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Six Months Ended June 30, |
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2025 |
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2024 |
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Borrowing interest expense |
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$ |
25,740,935 |
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$ |
9,089,362 |
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Facility unused fees |
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|
851,976 |
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|
423,403 |
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Amortization of deferred financing and debt issuance costs |
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1,320,763 |
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551,839 |
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Total Interest Expense |
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$ |
27,913,674 |
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$ |
10,064,604 |
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