| Schedule of Movement of Outstanding Shares of Common Shares |
The following tables detail the movement in the Company’s outstanding shares of common shares (in thousands):
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Class S |
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Class I |
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Class F-S |
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Class F-I |
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Class F-I X |
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Class B-X |
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Class C(1) |
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Class D-S(2) |
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Class D-X |
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Class E |
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Total |
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January 24, 2023 (Date of Formation) |
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— |
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— |
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— |
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— |
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|
— |
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— |
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|
— |
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— |
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|
— |
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|
— |
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|
|
— |
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Common shares issued |
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— |
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|
|
— |
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|
|
— |
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|
|
— |
|
|
|
2,342 |
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|
2,855 |
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|
|
6,469 |
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|
|
— |
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|
|
— |
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|
202 |
|
|
|
11,868 |
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Distribution reinvestment |
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— |
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|
— |
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|
— |
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— |
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|
4 |
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|
1 |
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|
4 |
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— |
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— |
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|
— |
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|
9 |
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Class transfers |
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— |
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|
|
— |
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|
|
— |
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|
— |
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|
|
— |
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(754 |
) |
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|
754 |
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— |
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— |
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— |
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|
— |
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Common shares repurchased |
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— |
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— |
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— |
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— |
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|
— |
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— |
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— |
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— |
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— |
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|
— |
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|
— |
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|
December 31, 2023 |
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— |
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|
— |
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|
|
— |
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|
|
— |
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|
|
2,346 |
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|
2,102 |
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|
7,227 |
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|
— |
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— |
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|
202 |
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|
|
11,877 |
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Common shares issued |
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— |
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— |
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|
2,980 |
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|
32,529 |
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|
630 |
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3,669 |
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|
1,053 |
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|
— |
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|
27,094 |
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|
323 |
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|
68,278 |
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Distribution reinvestment |
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— |
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|
— |
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|
8 |
|
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|
364 |
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|
53 |
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|
30 |
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|
26 |
|
|
|
249 |
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|
244 |
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|
7 |
|
|
|
981 |
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Class transfers |
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— |
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|
— |
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|
|
— |
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|
7,869 |
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|
(3,029 |
) |
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|
(5,801 |
) |
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(8,306 |
) |
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35,364 |
|
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|
(25,991 |
) |
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|
— |
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|
106 |
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|
Common shares repurchased |
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— |
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|
— |
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— |
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(299 |
) |
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— |
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— |
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— |
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— |
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— |
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(3 |
) |
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(302 |
) |
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December 31, 2024 |
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— |
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— |
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2,988 |
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40,463 |
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— |
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— |
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— |
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35,613 |
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1,347 |
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|
529 |
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|
80,940 |
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Common shares issued |
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|
15 |
|
|
|
12,673 |
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|
20,924 |
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|
27,104 |
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|
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— |
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— |
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|
— |
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|
|
— |
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|
|
— |
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|
2,324 |
|
|
|
63,040 |
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Distribution reinvestment |
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|
— |
|
|
|
200 |
|
|
|
413 |
|
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|
1,689 |
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|
|
— |
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|
|
— |
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|
|
— |
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|
757 |
|
|
|
— |
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|
12 |
|
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|
3,071 |
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|
Class transfers |
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|
— |
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(10 |
) |
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— |
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(40 |
) |
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|
— |
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|
|
— |
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|
— |
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|
1,356 |
|
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|
(1,347 |
) |
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|
49 |
|
|
|
8 |
|
|
Common shares repurchased |
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|
— |
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|
(21 |
) |
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|
(13 |
) |
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|
(979 |
) |
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|
— |
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|
|
— |
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|
|
— |
|
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|
(198 |
) |
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|
— |
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|
(370 |
) |
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|
(1,581 |
) |
|
December 31, 2025 |
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|
15 |
|
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|
12,842 |
|
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24,312 |
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|
68,237 |
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|
|
— |
|
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|
— |
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|
— |
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|
37,528 |
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|
— |
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|
2,544 |
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|
145,478 |
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|
(1)As of December 31, 2025, pursuant to the terms of the Class C shares and Class D shares, all outstanding Class C shares were automatically converted into Class D shares. (2)Class D shares were renamed to Class D-S shares effective November 14, 2024.
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| Schedule of Aggregate Distributions Declared for Each Applicable Class of Common Shares |
The following table details the aggregate net distributions declared for each applicable class of common shares:
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|
Year Ended December 31, 2025 |
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Class S(1) |
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Class I(1) |
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Class F-S |
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Class F-I |
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Class D-S |
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Class D-X(1) |
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Class E |
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Aggregate net distributions declared per share |
|
$ |
0.1058 |
|
|
$ |
0.6429 |
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|
$ |
0.6283 |
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|
$ |
0.7149 |
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|
$ |
0.7137 |
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|
$ |
0.1678 |
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|
$ |
0.7837 |
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|
Year Ended December 31, 2024 |
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Class S |
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Class I |
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Class F-S |
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Class F-I |
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Class F-I X |
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Class B-X |
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Class C(2) |
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Class D-S(3) |
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Class D-X |
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|
Class E |
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Aggregate net distributions declared per share |
|
$ |
— |
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|
$ |
— |
|
|
$ |
0.1800 |
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|
$ |
0.4994 |
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|
$ |
0.3241 |
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|
$ |
0.1756 |
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|
$ |
0.0835 |
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|
$ |
0.4073 |
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|
$ |
0.5829 |
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|
$ |
0.5829 |
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From January 24, 2023 (Date of Formation) through December 31, 2023 |
|
|
|
Class S |
|
|
Class I |
|
|
Class F-S |
|
|
Class F-I |
|
|
Class F-I X |
|
|
Class B-X |
|
|
Class C(2) |
|
|
Class D-S(3) |
|
|
Class D-X |
|
|
Class E |
|
Aggregate net distributions declared per share |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
0.0792 |
|
|
$ |
— |
|
|
$ |
0.0792 |
|
|
$ |
0.0792 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
0.0792 |
|
(1)Shares were outstanding for a portion of the year ended December 31, 2025. As of December 31, 2025, all Class D-X shares were automatically converted into Class D-S shares. (2)As of December 31, 2025, pursuant to the terms of the Class C shares and Class D shares, all outstanding Class C shares were automatically converted into Class D shares. (3)Class D shares were renamed to Class D-S shares effective November 14, 2024.
|
| Schedule of Redeemable Non-controlling Interest |
The following table details the redeemable non-controlling interest activity related to the Special Limited Partner for the years ended December 31, 2025 and 2024 ($ in thousands):
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|
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|
Year Ended |
|
|
|
December 31, 2025 |
|
Balance at beginning of period |
|
$ |
— |
|
Settlement of prior performance participation allocation and management fee |
|
|
12,629 |
|
Repurchases |
|
|
(7,193 |
) |
Offering costs |
|
|
(4 |
) |
Net income |
|
|
218 |
|
Other comprehensive loss |
|
|
(10 |
) |
Distributions |
|
|
(385 |
) |
Redemption value allocation |
|
|
459 |
|
Ending balance |
|
$ |
5,714 |
|
|