v3.26.1
Consolidated Statement of Assets and Liabilities
Dec. 31, 2025
USD ($)
$ / shares
Assets  
Total investments at fair value $ 598,039,307 [1],[2],[3],[4]
Cash and cash equivalents (Note 2) 33,824,479
Interest receivable from non-controlled/non-affiliated investments 3,669,509
Dividend receivable from non-controlled/non-affiliated investments 604
Fee receivable 88,253
Paydowns receivable 39,996
Deferred offering expenses 63,810
Prepaid expenses and other assets 18,812
Expense support receivable 451,691
Total assets 636,196,461
Liabilities  
Credit facility payable (net of deferred financing costs of $2,817,958) (Note 6) 340,608,437
Interest and financing fees payable 4,314,016
Unsettled trades payable 7,558,304
Base management fees payable (Note 3) 144,988
Distribution payable (Note 7) 2,287,413
Accounts payable and accrued expenses 1,084,684
Total liabilities 355,997,842
Commitments and contingencies (Note 5) 0
Net Assets:  
Common shares of beneficial interest, $0.001 par value, unlimited shares authorized, 11,185,580 shares issued and outstanding at December 31, 2025 11,186
Additional paid-in capital 279,844,520
Distributable earnings (accumulated losses) 342,913
Total net assets 280,198,619
Total liabilities and net assets $ 636,196,461
Net asset value per common share of beneficial interest | $ / shares $ 25.05
Non-controlled/non-affiliated investments  
Assets  
Total investments at fair value $ 596,303,214
Non-controlled/affiliated investments  
Assets  
Total investments at fair value $ 1,736,093
[1] All investments were qualifying assets as defined under Section 55(a) of the Investment Company Act of 1940, as amended (the "1940 Act"), except for Apex Group Treasury LLC, Barings Middle Market CLO Ltd., Best Egg Asset Structured Pass Through Master Trust, Churchill Middle Market CLO Ltd., Claros Mortgage Trust Inc., Coller Private Equity Backed Notes & Loans II-A L.P., Flow Traders Holdings, LLC, Inizio Group Limited, Ivy Hill Middle Market Credit Fund XII Ltd., LendingTree Inc., MC CIF Wealth Management (UK) Ltd. and New Mountain Guardian IV Income Rated Feeder II, Ltd. As of December 31, 2025, non-qualifying assets totaled 8.8% of the Fund's total assets.
[2] All of the Fund's investments are domiciled in the United States, except for Apex Group Treasury LLC, Barings Middle Market CLO Ltd., Flow Traders Holdings, LLC, Inizio Group Limited, MC CIF Wealth Management (UK) Ltd. and New Mountain Guardian IV Income Rated Feeder II, Ltd., which are domiciled in Ireland, Cayman Islands, Bermuda, United Kingdom, United Kingdom and Bermuda, respectively.
[3] As of December 31, 2025, all investments are pledged as collateral except for Barings Middle Market CLO Ltd., Best Egg Asset Structured Pass Through Master Trust, Churchill Middle Market CLO Ltd., Ivy Hill Middle Market Credit Fund XII Ltd., MC CIF Wealth Management (UK) Ltd. and SPV CA IX, LLC.
[4] Unless otherwise indicated, all securities are valued using significant unobservable inputs, which are categorized as Level 3 assets under the definition of ASC 820 fair value hierarchy.