Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2025

Investment Company, Financial Highlights [Abstract]

Below is the schedule of the Company’s financial highlights (in thousands, except unit and per unit data):


	For the Period from February 13, 2025 (Commencement of Operations) through December 31, 2025
Per Unit Data:
Net asset value, beginning of period	$	1,000
Net investment income (1)		1,879,100
Net realized and unrealized gains on investments(1)(2)		502,000
Net increase in net assets resulting from operations		2,381,100
Capital contributions		38,208,500
Distributions declared from net investment income(2)		(2,016,300	)
Return of capital(2)		(1,623,700	)
Total increase (decrease) in net assets		36,949,600
Net asset value, end of period		36,950,600
Units outstanding, end of period		10
Weighted average units outstanding		10
Total return based on net asset value (3)		238,110	%
Ratio/Supplemental Data:
Net assets, end of period	$	369,506
Ratio of total expenses (prior to expense support) to average net assets(4)		3.68	%
Ratio of expenses (prior to expense support and interest and other debt expenses) to average net assets (4)(6)		1.00	%
Ratio of net investment income to average net assets(4)		7.23	%
Ratio of interest and credit facility expenses to average net assets (4)		2.68	%
Portfolio turnover (5)		1.08	%
Asset coverage ratio		158	%

Below is the schedule of the Company’s financial highlights (in thousands, except share and per share data):

(1)

The per share data was derived by using the weighted average units outstanding during the period.

(2)

The amount shown does not correspond with the aggregate amount for the period as it includes the effect of the timing of capital transactions.

(3)

Total return based on NAV is calculated as the change in NAV per unit during the period plus declared distributions or capital activity per unit during the period divided by the beginning NAV per share, and not annualized.

(4)

Annualized

(5)

Not Annualized

(6)

The ratio of total expenses to average net assets in the table above excludes recoupment of expenses paid to the Adviser. Including the effects of repayments to the Adviser for expense support, the annualized ratio of total expenses to average net assets would have been 4.14% for the period from February 13, 2025 (Commencement of Operations) through December 31, 2025.

Schedule of Information about Senior Securities

Information about our senior securities (including debt securities and other indebtedness) is shown in the following table as of the fiscal year ended December 31, 2025. We had no senior securities outstanding as of December 31, 2024.


Class and Year	Total Amount Outstanding Exclusive of Treasury Securities(1)		Asset Coverage Per Unit(2)		Involuntary Liquidating Preference Per Unit(3)		Average Market Value Per Unit
JPM Funding Facility
Fiscal 2025	$	120,000	$	1,579	$	-	N/A
Secured Borrowings
Fiscal 2025	$	518,418	$	1,579	$	-	N/A

(1) Total amount of each class of senior securities outstanding at principal value at the end of the period presented.

(2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as (i) the sum of (A) total assets at end of period and (B) other liabilities excluding total debt outstanding and accrued borrowing expenses at end of

a period, divided by (ii) the sum of total debt outstanding and accrued borrowing expenses at the end of the period. This asset coverage ratio is multiplied by $1,000 to determine the “Asset Coverage Per Unit”.

(3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it.