v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 9 Months Ended
Dec. 31, 2025
USD ($)
Cash flow from operating activities  
Net increase (decrease) in net assets resulting from operations $ 3,094 [1]
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:  
Net accretion of discount and amortization of premium on investments (78) [2]
Proceeds from sale of investments and principal repayments 6,818 [2]
Purchases of investments (106,192) [2]
Purchase/sale of short-term investments, net (3,585) [2]
Net realized (gains) losses on investments 8 [2]
Net change in unrealized (appreciation) depreciation on investments (214) [2]
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies (5) [2]
Amortization of deferred financing costs 176 [2]
Amortization of deferred offering costs 100 [2]
Interest receivable from non-controlled/non-affiliated investments (531) [2]
Receivable from adviser (1,877) [2]
Prepaid expenses and other assets (114) [2]
Due to affiliates 947 [2]
Payable for investments purchased 4,780 [2]
Interest payable 212 [2]
Administrative service fee payable 299 [2]
Accrued expenses and other liabilities 936 [2]
Net cash provided by (used in) operating activities (95,226) [2]
Cash flow from financing activities  
Proceeds from issuance of shares 16,524 [2]
Debt borrowings 87,962 [2]
Debt repayments (4,800) [2]
Distributions paid (14) [2]
Deferred offering costs paid (223) [2]
Deferred financing costs paid (1,919) [2]
Net cash provided by (used in) financing activities 97,530 [2]
Net increase (decrease) in cash 2,304 [2]
Cash and foreign currencies at the beginning of period 0 [2]
Cash and foreign currencies at the end of period 2,306 [2]
Effect of foreign exchange rate changes on cash 2 [2]
Supplemental disclosure of cash flow information and non-cash financing activities  
Cash paid for interest 1,556 [2]
Equity issued in kind (Note 8) 50,000 [2]
Investments purchased in kind (Note 8) 50,000 [2]
Distributions payable 1,072 [2]
Reinvestment of distributions $ 1,412
[1] The Company commenced operations on July 18, 2025.
[2] The Company commenced operations on July 18, 2025.