| Summary of investments at fair value and cost |
Investments at fair value and cost consisted of the following as of December 31, 2025:
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December 31, 2025 |
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% of Total |
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Cost |
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Fair Value |
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Investments |
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First Lien Senior Secured |
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$ |
2,908,938 |
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2,903,414 |
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96.50 |
% |
Second Lien Senior Secured |
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5,440 |
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|
5,460 |
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|
0.18 |
% |
Subordinated Notes* |
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48,779 |
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|
49,318 |
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1.64 |
% |
Preferred Equity |
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1,989 |
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|
499 |
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0.02 |
% |
Limited Partnership Interests |
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43,092 |
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|
49,937 |
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|
|
1.66 |
% |
Total investments |
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$ |
3,008,238 |
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|
$ |
3,008,628 |
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|
|
100.00 |
% |
Investments at fair value and cost consisted of the following as of December 31, 2024:
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December 31, 2024 |
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% of Total |
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Cost |
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Fair Value |
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Investments |
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First Lien Senior Secured |
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$ |
1,532,317 |
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1,532,466 |
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97.58 |
% |
Second Lien Senior Secured |
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4,423 |
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|
4,467 |
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0.28 |
% |
CLO* |
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4,994 |
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|
4,994 |
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|
0.32 |
% |
Private Credit Funds |
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|
26,022 |
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|
28,615 |
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|
1.82 |
% |
Total investments |
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$ |
1,567,756 |
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$ |
1,570,542 |
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|
100.00 |
% |
* CLOs are included as Subordinated Notes for the fiscal year ended 2025.
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