v3.26.1
Consolidated Statement of Operations - USD ($)
$ in Thousands
 8 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
From non-controlled/non-affiliated investments:      
Dividend income   $ 1,247 $ 4,004
Other Income   1,767 1,504
Total investment income $ 4,447 66,951 42,115
Expenses:      
Interest expense 888 26,597 12,292
Base management fees 683 3,756 3,617
Income-based incentive fee 0 3,935 2,678
Capital Gains Incentive Fee 25 0 (25)
Administration expense 769 1,714 1,642
Trustees fees 277 501 477
Professional fees 613 1,300 1,484
Organization costs 1,166 0 0
Other general and administrative expenses 338 1,298 917
Amortization of continuous offering costs 374 3,081 1,951
Distribution and shareholder servicing fees (Class D) [1] 0 0 0
Total expenses before excise tax 5,133 42,182 25,033
Management fees waiver (683) (2,808) (3,617)
Incentive fees waiver (25) (3,935) (2,653)
Expense support 0 (4,884) (2,585)
Net expenses before excise tax 4,425 30,555 16,178
Net investment income (loss) before excise tax 22 36,396 25,937
Excise tax expense 9 351 67
Net investment income (loss) after excise tax 13 36,045 25,870
Net realized gains (losses):      
Net realized gain (loss) 0 (2,667) (1,571)
Net change in unrealized appreciation (depreciation):      
Net change in unrealized appreciation (depreciation) 199 (2,060) 26
Net realized and unrealized gain (loss) 199 (4,727) (1,545)
Net increase (decrease) in net assets resulting from operations 212 31,318 24,325
Class I Shares      
Per share information - basic and diluted:      
Earnings available to shareholders $ 212 $ 31,309 $ 24,325
Weighted average shares outstanding (basic) 4,367,466 12,445,336 12,088,057
Weighted average shares outstanding (diluted) 4,367,466 12,445,336 12,088,057
Basic earnings per common share $ 0.05 $ 2.52 $ 2.01
Diluted earnings per common share $ 0.05 $ 2.52 $ 2.01
Class D Shares      
Expenses:      
Distribution and shareholder servicing fees (Class D) $ 0   $ 0
Per share information - basic and diluted:      
Earnings available to shareholders $ 0 $ 9 $ 0
Weighted average shares outstanding (basic) 0 4,205 0
Weighted average shares outstanding (diluted) 0 4,205 0
Basic earnings per common share $ 0 $ 2.09 $ 0
Diluted earnings per common share $ 0 $ 2.09 $ 0
Non Controlled Non Affiliated Investments      
From non-controlled/non-affiliated investments:      
Interest income $ 1,023 $ 63,937 $ 36,607
Dividend income 3,213 1,247 4,004
Other Income 211 1,767 1,504
Net realized gains (losses):      
Non-controlled/non-affiliated investments 0 (2,667) (1,571)
Net change in unrealized appreciation (depreciation):      
Non-controlled non-affiliated investments $ 199 $ (2,060) $ 26
[1] For the year ended December 31, 2025, the Class D distribution and shareholder servicing fees were less than $1. There were no distribution and shareholder servicing fees for the year ended December 31, 2024 and the period April 28, 2023 (initial capitalization) through December 31, 2023.