v3.26.1
Agreements and Related Party Transactions (Tables)
12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Summary of Related Party Transactions under the Advisory and Administration Agreements

The following table provides a summary of related party transactions under the Advisory and Administration Agreements with the Adviser for the periods ended December 31, 2025, December 31, 2024, June 30, 2024 and June 30, 2023:

 

 

Twelve Months Ended December 31,

 

Six Months Ended December 31,

 

Twelve Months Ended June 30,

 

 

2025

 

2024

 

2024

 

2023

Base management fees

 

$3,465,211

 

$1,671,831

 

$3,800,693

 

$4,201,394

Waiver of base management fees

 

(349,320)

 

(131,735)

 

(365,225)

 

(387,311)

Income-based incentive fees

 

(150,384)

 

501,540

 

(72,942)

 

401,597

Waiver of income-based incentive fees

 

 

 

 

Capital gains fee

 

 

 

 

Allocation of administrative costs from Adviser

 

978,448

 

382,064

 

1,360,194

 

966,045

Total net expense to affiliates

 

$3,943,955

 

$2,423,700

 

$4,722,720

 

$5,181,725

 

Schedule of Resulting from Transactions under the Advisory and Administration Agreements

The following table provides a summary of related party transaction balances under the Advisory and Administration Agreements with the Adviser as of December 31, 2025, December 31, 2024 and June 30, 2024:

 

 

December 31, 2025

 

December 31, 2024

 

June 30, 2024

Due from affiliate

 

$

 

$

 

$

Total amount due from affiliate

 

$

 

$

 

$

 

 

 

 

 

 

 

Base management fees payable

 

$786,986

 

$769,176

 

$816,777

Income-based incentive fees payable

 

351,571

 

501,955

 

128,876

Capital gains fee payable

 

 

 

Allocation of administrative costs from Adviser payable(1)

 

275,037

 

27,868

 

52,874

Total amount due to affiliates

 

$1,413,594

 

$1,298,999

 

$998,527

 

(1)
Balances are reported within Accrued Expenses and Other Liabilities on the Consolidated Statements of Assets and Liabilities.