Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2025

Investment Company, Financial Highlights [Abstract]

The following are the financial highlights for the years ended December 31, 2025 and 2024:


	Year Ended December 31,
	2025				2024 (1)
Per Share Data:
Net assets, beginning of period	$	25.09			$	25.00
Net investment income (loss) (2)		2.68				0.43
Net realized and change in unrealized appreciation (depreciation) (3)		(0.07	)			(0.01	)
Net increase (decrease) in net assets resulting from operations		2.61				0.42
Distributions declared (4)		(2.52	)			(0.33	)
Total increase (decrease) in net assets		0.09				0.09
Net assets, end of period	$	25.18			$	25.09
Common Shares outstanding, end of period		29,112,305				25,405,674
Total return based on net asset value (5)		10.89		%		1.67		%
Ratios: (6)
Total expenses to average net assets gross of fee waivers		8.91		%		3.77		%
Net expenses to average net assets net of fee waivers		7.21		%		1.23
Net investment income to average net assets		10.68		%		10.05		%
Portfolio turnover rate (7)		21.34		%		1.74		%
Supplemental Data:
Net assets, end of period	$	733,068			$	637,459
Asset coverage ratio (8)		177.13		%		678.49		%

(1)

The Company commenced operations on November 5, 2024. Metrics are based on the period of November 5, 2024 through December 31, 2024.

(2)

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

(3)

The per share data includes a balancing figure that is derived from the other amounts presented in this schedule.

(4)

The per share data was derived using the actual shares outstanding at the date of the relevant transaction (See Note 8).

(5)

Total return (not annualized) is calculated as the change in net assets per share during the period, plus distributions per share (assuming distributions are reinvested in accordance with the Company’s distribution reinvestment plan), divided by the net assets per share at the beginning of the period.

(6)

Amounts are annualized except for non-recurring income and expenses (other income, organization and offering expenses and incentive fees on capital gains) for the year ended December 31, 2024. Amounts are not annualized for the year ended December 31, 2025

(7)

Portfolio turnover rate is calculated using the lesser of the year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the period reported. Ratio does not include impact of short-term investments.

(8)

In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing.