| Financial Highlights |
12. FINANCIAL HIGHLIGHTS The table below presents the schedule of financial highlights of the Company:
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For the Years Ended |
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December 31, 2025 |
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December 31, 2024 |
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December 31, 2023 |
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December 31, 2022 |
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December 31, 2021 |
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Per Unit Data:(1) |
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NAV, beginning of period |
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$ |
23.49 |
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$ |
37.92 |
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$ |
37.76 |
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$ |
54.79 |
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$ |
75.76 |
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Net investment income |
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2.04 |
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4.34 |
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4.01 |
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4.79 |
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5.29 |
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Net realized and unrealized gains (losses)(2) |
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0.03 |
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(5.55 |
) |
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0.86 |
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(6.85 |
) |
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1.69 |
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(Provision) benefit for taxes on realized and unrealized gains (losses) on investments |
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— |
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0.02 |
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0.02 |
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— |
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(3) |
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(0.01 |
) |
Net increase (decrease) in Members' Capital from operations(2) |
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2.07 |
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(1.19 |
) |
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4.89 |
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(2.06 |
) |
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6.97 |
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Discount in connection with Merger |
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— |
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(1.15 |
) |
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— |
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— |
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— |
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Distributions recorded: |
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From return of capital |
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(1.95 |
) |
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(11.73 |
) |
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— |
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(10.73 |
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(23.41 |
) |
From net investment income |
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(2.15 |
) |
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(0.36 |
) |
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(4.73 |
) |
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(4.24 |
) |
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(4.53 |
) |
Total distributions recorded |
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(4.10 |
) |
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(12.09 |
) |
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(4.73 |
) |
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(14.97 |
) |
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(27.94 |
) |
Total increase (decrease) in Members' Capital |
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(2.03 |
) |
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(14.43 |
) |
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0.16 |
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(17.03 |
) |
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(20.97 |
) |
NAV, end of period |
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$ |
21.46 |
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$ |
23.49 |
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$ |
37.92 |
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$ |
37.76 |
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$ |
54.79 |
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Units outstanding, end of period |
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14,884,897 |
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14,884,897 |
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10,687,877 |
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10,687,877 |
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10,687,877 |
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Weighted average units outstanding |
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14,884,897 |
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10,858,864 |
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10,687,877 |
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10,687,877 |
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10,687,877 |
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Total return based on NAV(4) |
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8.81 |
% |
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(6.17 |
)% |
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12.95 |
% |
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(3.76 |
)% |
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9.20 |
% |
Supplemental Data/Ratio: |
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Members’ Capital, end of period |
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$ |
319,403 |
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$ |
349,710 |
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$ |
405,334 |
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$ |
403,611 |
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$ |
585,604 |
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Ratio of expenses (without incentive fees and interest and other debt expenses) to average Members’ Capital |
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1.57 |
% |
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3.03 |
% |
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2.08 |
% |
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1.99 |
% |
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1.86 |
% |
Ratio of interest and other debt expenses to average Members’ Capital |
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4.56 |
% |
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0.74 |
% |
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2.37 |
% |
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2.69 |
% |
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2.32 |
% |
Ratio of incentive fees to average Members’ Capital |
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1.00 |
% |
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(3.36 |
)% |
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2.22 |
% |
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(0.84 |
)% |
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1.86 |
% |
Ratio of total expenses to average Members’ Capital |
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7.13 |
% |
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0.41 |
% |
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6.67 |
% |
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3.84 |
% |
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6.04 |
% |
Ratio of net investment income to average Members’ Capital |
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9.25 |
% |
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13.53 |
% |
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10.32 |
% |
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11.11 |
% |
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8.01 |
% |
Portfolio turnover |
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12 |
% |
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50 |
% |
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12 |
% |
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7 |
% |
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11 |
% |
(1)The per Unit data was derived by using the weighted average Units outstanding during the applicable period, except for distributions recorded, which reflects the actual amount of distributions recorded per Unit for the applicable period. (2)The amount shown may not correspond with the aggregate amount for the period as it includes the effect of the timing of the distribution. (3)Amount rounds to less than $0.01 (4)Calculated as the change in NAV per Unit during the period plus dividends recorded per Unit, divided by the beginning NAV per Unit. |