v3.26.1
Financial Highlights and Senior Securities - Schedule of Financial Highlights (Details) - USD ($)
$ / shares in Units, $ in Thousands
 8 Months Ended 12 Months Ended
Mar. 31, 2025
Jan. 31, 2025
Apr. 30, 2024
Feb. 29, 2024
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Per Share Data:              
Shares outstanding, end of period           12,457,767 12,407,361
Supplemental Data:              
Net assets, end of period           $ 301,880 $ 300,334
Asset coverage ratio           189.00%  
Class I [Member]              
Per Share Data:              
Net assets, beginning of period           $ 24.21 $ 24.28
Net investment income (loss) after excise tax [1]           2.9 2.14
Net realized gain (loss) [1]           (0.21) (0.13)
Net change in unrealized appreciation (depreciation) [1]           (0.17) (0)
Net increase (decrease) in net assets resulting from operations [1]         $ 0.05 2.52 2.01
Distributions declared from distributable earnings (losses)         (0.12) (2.5) (2.07)
Issuance of shares         25 0 0
Other [2]         (0.65) 0 (0.01)
Total increase (decrease) in net assets         24.28 0.02 (0.07)
Net assets, end of period $ 23.97 $ 24.27 $ 24.25 $ 24.2 $ 24.28 $ 24.23 $ 24.21
Shares outstanding, end of period         10,366,818 12,453,562 12,407,361
Total return based on NAV [3]         (2.40%) 10.91% 8.57%
Ratios:              
Net expenses to average net assets [5]         6.24% [4] 10.29% 5.56%
Net investment income to average net assets [5]         0.12% [4] 12.00% 8.92%
Portfolio turnover rate [6]         0.95% 43.25% 23.07%
Supplemental Data:              
Net assets, end of period         $ 251,668 $ 301,778 $ 300,334
Average debt outstanding [7]           $ 373,645 $ 161,319
Asset coverage ratio [7]           189.00% 192.20%
Class D [Member]              
Per Share Data:              
Net assets, beginning of period [8]           $ 0  
Net investment income (loss) after excise tax [1],[8]           1.91  
Net realized gain (loss) [1],[8]           0.12  
Net change in unrealized appreciation (depreciation) [1],[8]           0.3  
Net increase (decrease) in net assets resulting from operations [1],[8]           2.09  
Distributions declared from distributable earnings (losses) [8]           (1.64)  
Issuance of shares [8]           23.78  
Other [2],[8]           0  
Total increase (decrease) in net assets [8]           24.23  
Net assets, end of period [8]           $ 24.23 $ 0
Shares outstanding, end of period           4,205 [8] 0
Total return based on NAV [3],[8]           8.97%  
Ratios:              
Net expenses to average net assets [5],[8],[9]           10.89%  
Net investment income to average net assets [5],[8],[9]           11.55%  
Portfolio turnover rate [6],[8]           43.25%  
Supplemental Data:              
Net assets, end of period           $ 102 [8] $ 0
Average debt outstanding [7],[8]           $ 373,645  
Asset coverage ratio [7],[8]           189.00%  
[1] The per share data was derived by using the weighted average shares outstanding during the period.
[2] Includes the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.
[3] Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the Company’s dividend reinvestment plan), if any, divided by the beginning NAV per share. Return calculations are not annualized.
[4] Amounts are annualized, except for organizational costs, excise tax, and management fee and income-based incentive fee waivers by the Adviser.
[5] For the year ended December 31, 2025, the ratio of total operating expenses to average net assets was 14.16% and 14.53% (annualized) for Class I shares and Class D shares, respectively, excluding the effect of expense support payments/(recoupments), and management fee and income based incentive fee waivers, by the Adviser, if any, which represented 3.87% and 3.64% (annualized) for Class I shares and Class D shares, respectively, of average assets. For the year ended December 31, 2024, the ratio of total operating expenses to average net assets was 8.61%, excluding the effect of management fee and income based incentive fee waivers by the Adviser, if any, which represented 3.05% of average assets. For the reporting period ended December 31, 2023, the ratio of total operating expenses to average net assets was 6.92% (annualized) on an annualized basis, excluding the effect of management fee and income based incentive fee waivers by the Adviser, if any, which represented 0.68% of average assets.
[6] Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported. Ratio is not annualized.
[7] As of December 31, 2023, the Company had no debt outstanding.
[8] The date of the first sale of Class D shares was May 1, 2025. See Note 8 - Net Assets for additional information.
[9] Amounts are annualized, except for excise tax.