v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investments at fair value:    
Cash $ 5,450 $ 2,915
Interest receivable 1,134 965
Prepaid expenses 197 4
Total assets 100,872 89,645
Liabilities    
Distributions payable 0 863
Management fee payable (see note 3) 0 495
Incentive fee payable (see note 3) 55 280
Administration fee payable (see note 3) 18 17
Interest payable (see note 5) 578 546
Other liabilities and accrued expenses 230 199
Total liabilities 43,036 44,807
Commitments and contingencies (see note 6)
Unitholders' Capital    
Common Unitholders' capital (2,711,561 and 2,124,431 units, respectively, issued and outstanding) 58,390 45,890
Accumulated distributable net earnings (loss) (554) (1,052)
Total unitholders' capital 57,836 [1],[2] 44,838
Total liabilities and unitholders' capital $ 100,872 $ 89,645
Net asset value per unit [3] $ 21.33 $ 21.11
Non Controlled Non Affiliated Investments [Member]    
Investments at fair value:    
Non-controlled/non-affiliated investments (cost: $94,120 and $85,269, respectively) $ 94,091 $ 85,761
Revolving Credit Facility Due February Two Thousand And Twenty Eight the SPV Facility [Member]    
Liabilities    
Long-Term Line of Credit 34,725 32,359
Revolving Credit Facility Due March Two Thousand and Twenty Seven the Subscription Facility [Member]    
Liabilities    
Long-Term Line of Credit $ 7,430 $ 10,048
[1] Calculated as the change in net asset value (“NAV”) per unit during the period plus distributions declared per unit, divided by the beginning NAV per unit. Total return does not include a sales load.
[2] Not annualized for periods less than one year.
[3] Calculated using the average units outstanding method. Weighted average units outstanding for the three months ended March 31, 2026 and March 31, 2025 were 2,431,044 and 1,253,582, respectively.