v3.25.4
Tax Information (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of tax character of distributions

As of the dates indicated, the tax character of distributions was as follows:

 

 

For the Year Ended December 31, 2025

 

 

For the period from May 1, 2024 (inception) to December 31, 2024

 

Distributions paid from:

 

 

 

 

 

 

Ordinary Income

 

$

6,414

 

 

$

—

 

Net Long-Term Capital Gains

 

—

 

 

—

 

Total Taxable Distributions

 

$

6,414

 

 

$

—

 

 
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:

 

 

For the Year Ended December 31, 2025

 

 

For the period from May 1, 2024 (inception) to December 31, 2024

 

Undistributed Ordinary Income - net

 

$

92

 

 

$

—

 

Undistributed Long-Term Capital Gains

 

 

—

 

(1)

 

—

 

Total Undistributed Earnings

 

$

92

 

 

$

—

 

Capital Loss Carryforward

 

$

—

 

 

$

—

 

Timing Differences (Organizational Costs)

 

 

(734

)

 

 

(788

)

Unrealized Earnings (Losses)—net

 

 

(653

)

 

 

(7

)

Total Accumulated Earnings (Losses)—net

 

$

(1,295

)

 

$

(795

)
(1)
Amount rounds to less than $1.
Schedule of Aggregate Unrealized Appreciation and Depreciation

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:

 

 

For the Year Ended December 31, 2025

 

 

For the period from May 1, 2024 (inception) to December 31, 2024

 

Tax cost

 

$

444,417

 

 

$

103,108

 

Gross unrealized appreciation

 

 

114

 

 

 

—

 

Gross unrealized depreciation

 

 

(767

)

 

 

(7

)

Net unrealized investment appreciation on investments

 

$

(653

)

 

$

(7

)
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:

 

 

For the Year Ended December 31, 2025

 

 

For the period from May 1, 2024 (inception) to December 31, 2024

 

Net increase (decrease) in members' capital resulting from operations

 

$

5,488

 

 

$

(2,589

)

Adjustments:

 

 

 

 

 

 

Net unrealized losses (gains)

 

 

653

 

 

 

7

 

Expenses not currently deductible

 

 

426

 

 

 

1,679

 

Expenses for tax but not for book

 

 

(54

)

 

 

(18

)

Realized gain (loss) differences

 

 

(7

)

 

 

—

 

Taxable income net of capital loss carryforward

 

$

6,506

 

 

$

(921

)

Nondeductible net investment loss

 

 

—

 

 

 

921

 

Taxable income(1)

 

$

6,506

 

 

$

—

 
(2)
Taxable income is an estimate and is not fully determined until the Company’s tax return is filed.