v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Non-controlled, non-affiliated investments (cost of $876,688 and $488,544 at December 31, 2025 and December 31, 2024, respectively) $ 884,414 $ 490,462
Cash 27,591 8,107
Receivable for investments sold 17,953 224
Deferred financing costs 6,496 5,274
Dividends and interest receivable 5,363 3,052
Receivable from Adviser 0 460
Prepaid expenses 85 390
Total assets 941,902 507,969
Liabilities    
Borrowings 531,190 242,746
Distribution payable 9,242 0
Interest payable 7,831 2,850
Investment income incentive fees payable 1,616 0
Management fees payable 1,044 435
Accrued capital gains incentive fees 969 0
Payable for investments purchased 0 13,657
Loans sold under agreement to repurchase 0 11,641
Accrued expenses and other liabilities 2,366 1,150
Total liabilities 554,258 272,479
Commitments and contingencies (see Note 7)
Net Assets    
Common stock, $0.01 par value, 200,000,000 shares authorized, 24,058,078 and $14,940,044 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 241 149
Additional Paid in Capital 381,471 234,145
Distributable earnings (loss) 5,932 1,196
Total net assets 387,644 235,490
Total liabilities and net assets $ 941,902 $ 507,969
Net asset value per share (in dollars per share) $ 16.11 $ 15.76