Tax Information (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Income Tax Disclosure [Abstract] |
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| Schedule of Tax Character of Distributions |
The below table presents the tax character of distributions:
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Year Ended
December 31, 2025 |
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Year Ended
December 31, 2024 |
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Year Ended
December 31, 2023 |
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Distributions paid from: |
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Ordinary Income |
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$ |
32,099 |
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$ |
5,385 |
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$ |
50,579 |
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Net Long-Term Capital Gains |
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— |
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|
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— |
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|
— |
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Total Taxable Distributions |
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$ |
32,099 |
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|
$ |
5,385 |
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$ |
50,579 |
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Tax Return of Capital |
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$ |
29,015 |
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$ |
125,320 |
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$ |
— |
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| Components of Accumulated Earnings (Losses) on Tax Basis |
As of the dates indicated, the components of Accumulated Earnings (Losses) on a tax basis were as follows:
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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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Undistributed Ordinary Income—net |
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$ |
— |
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$ |
— |
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$ |
27 |
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Undistributed Long-Term Capital Gains |
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— |
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— |
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— |
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Total Undistributed Earnings |
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$ |
— |
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$ |
— |
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$ |
27 |
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Capital Loss Carryforward: (1) |
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Perpetual Short-Term |
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$ |
(3,074 |
) |
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$ |
— |
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$ |
(33 |
) |
Perpetual Long-Term |
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(110,251 |
) |
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(58,822 |
) |
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(42,892 |
) |
Timing Differences (Organizational Costs/Incentive Fees/Late Year Ordinary Loss Deferral/Post-October Loss Deferral/ 852(b)(7) Dividend) |
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(2,549 |
) |
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(19,492 |
) |
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(78,572 |
) |
Unrealized Earnings (Losses)—net |
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(22,529 |
) |
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(77,982 |
) |
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(21,616 |
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Total Accumulated Earnings (Losses)—net |
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$ |
(138,403 |
) |
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$ |
(156,296 |
) |
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$ |
(143,086 |
) |
(1)For the years ended December 31, 2025, 2024 and 2023, the Company did not utilize any capital losses.
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| Schedule of Aggregate Unrealized Appreciation and Depreciation on Investments |
As of the dates indicated, the Company’s aggregate unrealized appreciation and depreciation based on cost for U.S. federal income tax purposes were as follows:
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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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Tax cost |
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$ |
492,612 |
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$ |
661,891 |
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$ |
545,083 |
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Gross unrealized appreciation |
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7,905 |
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3,633 |
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6,412 |
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Gross unrealized depreciation |
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(30,434 |
) |
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(81,615 |
) |
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(28,028 |
) |
Net unrealized investment appreciation on investments |
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$ |
(22,529 |
) |
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$ |
(77,982 |
) |
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$ |
(21,616 |
) |
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| Schedule of Reconciles Net Increase in Net Assets Resulting from Operations to Taxable Income |
The following table reconciles net increase in net assets resulting from operations to taxable income:
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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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Net increase (decrease) in members' capital resulting from operations |
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$ |
30,807 |
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$ |
(13,539 |
) |
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$ |
52,302 |
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Adjustments: |
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Net unrealized loss (gain) on investments and foreign currency forward contracts and translations |
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$ |
(60,914 |
) |
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$ |
49,258 |
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$ |
(57,505 |
) |
Income not currently taxable |
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19,186 |
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(365 |
) |
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|
295 |
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Income for tax but not for book |
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— |
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178 |
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223 |
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Expenses not currently deductible |
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— |
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— |
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9,231 |
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Expenses for tax but not for book |
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(1,631 |
) |
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(52,916 |
) |
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(325 |
) |
Realized gain (loss) differences |
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(63,316 |
) |
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(47,517 |
) |
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3,460 |
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Taxable income net of capital loss carryforward |
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$ |
(75,868 |
) |
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$ |
(64,901 |
) |
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$ |
7,681 |
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Capital loss carryforward |
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$ |
113,325 |
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$ |
58,823 |
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$ |
42,925 |
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Nondeductible net investment loss |
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$ |
— |
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$ |
6,078 |
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$ |
— |
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Taxable income(1) |
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$ |
37,457 |
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$ |
- |
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$ |
50,606 |
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(1) Taxable income is an estimate and is not fully determined until the Company’s tax return is filed.
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