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
Investment Income        
Total Investment Income $ 48,679,928 $ 25,894,229 $ 90,011,337 $ 45,703,327
Expenses        
Interest expense 16,170,072 6,065,248 27,913,674 10,064,604
Management fees 3,146,157 1,749,476 5,893,643 3,210,454
Administration fees 813,807 453,724 1,523,249 831,925
Amortization of deferred offering costs 0 0 0 291,680
Board of Trustees' fees 118,148 54,038 200,825 102,546
Professional fees 1,073,535 200,042 1,576,171 376,044
Registration fees 0 0 459,300 0
Other general and administrative expenses 501,534 415,509 1,173,098 812,594
Total Expenses Before Reductions 25,206,243 11,168,502 44,464,522 19,493,731
Expense support (701,601) (136,913) (1,564,693) (591,561)
Net Expenses 24,504,642 11,031,589 42,899,829 18,902,170
Net Investment Income (Loss) Before Taxes 24,175,286 14,862,640 47,111,508 26,801,157
Net change in provision (benefit) for income and excise taxes 118,307 0 112,229 0
Net Investment Income (Loss) After Taxes 24,056,979 14,862,640 46,999,279 26,801,157
Net Realized and Change in Unrealized Gains (Losses)        
Net realized gain (loss) on swaps (10,059) 0 (10,059) 0
Net realized gain (loss) on foreign currency transactions (69,249) 573,792 (70,669) 573,792
Net realized gain (loss) (1,924,626) (453,320) (1,963,189) (453,987)
Net change in unrealized appreciation (depreciation) on swaps 1,697,905 0 1,697,905 0
Net change in unrealized appreciation (depreciation) on foreign currency translation (317,985) (366,537) (308,827) (25,837)
Net change in benefit (provision) for deferred taxes on unrealized appreciation (depreciation) on investments (41,634) (298,615) (135,316) (298,615)
Net change in unrealized appreciation (depreciation) (1,072,420) 1,129,971 (9,405,291) 296,493
Net Realized and Change in Unrealized Gains (Losses) (2,997,046) 676,651 (11,368,480) (157,494)
Net Increase (Decrease) in Net Assets Resulting from Operations 21,059,933 15,539,291 35,630,799 26,643,663
Income Based Incentive Fees [Member]        
Expenses        
Income based incentive fees 3,378,908 2,108,026 6,539,392 3,785,319
Capital Gains Incentive Fees [Member]        
Expenses        
Capital gains incentive fees 0 122,376 (822,417) 18,474
Class S [Member]        
Expenses        
Distribution and shareholder servicing fees 4,075 56 7,573 78
Class D [Member]        
Expenses        
Distribution and shareholder servicing fees 7 7 14 13
Non-Controlled / Non-Affiliate Investments        
Investment Income        
Interest income 46,246,472 24,827,760 85,670,888 43,688,893
Dividend income 169,545 197,233 393,523 439,724
Other income 406,461 253,696 1,242,637 363,580
Net Realized and Change in Unrealized Gains (Losses)        
Net realized gain (loss) on non-controlled / non-affiliate investments (1,760,643) (1,027,112) (2,070,784) (1,027,779)
Net change in unrealized appreciation (depreciation) on non-controlled / non-affiliate investments (2,481,575) 1,973,455 (9,627,450) 770,705
Non-Controlled / Affiliate Investments        
Investment Income        
Dividend income 1,857,450 615,540 2,704,289 1,211,130
Net Realized and Change in Unrealized Gains (Losses)        
Net realized gain (loss) on non-controlled / non-affiliate investments (84,675) 0 188,323 0
Net change in unrealized appreciation (depreciation) on non-controlled / non-affiliate investments $ 70,869 $ (178,332) $ (1,031,603) $ (149,760)