v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income:    
Payment-in-kind interest income $ 733 $ 199
Total Investment Income 24,231 12,606
Expenses:    
Management fees 1,450 837
Incentive fees 1,574 924
Administrative expenses 290 168
Interest expense 7,589 4,098
Professional Fees 659 331
Trustees' fees 65 53
Organizational and offering expenses 198 436
Other general expenses 572 209
Total Expenses 12,397 7,056
Less: Expense reimbursement (Note 4) (255) (267)
Net expenses 12,142 6,789
Net Investment Income (Loss) 12,089 5,817
Realized and unrealized gains (losses) on investments and foreign currency transactions    
Net realized gains (losses) on investments 88 0
Net change in deferred tax liability (8) (8)
Total net change in unrealized gains (losses) (3,829) 896
Total realized and unrealized gains (losses) (3,741) 896
Net Increase (Decrease) in Net Assets Resulting from Operations $ 8,348 $ 6,713
Per Common Share Data:    
Basic and diluted net investment income/(loss) per common share [1] $ 0.65 $ 0.54
Basic net increase/(decrease) in net assets resulting from operations per common share 0.45 0.63
Diluted net increase/(decrease) in net assets resulting from operations per common share $ 0.45 $ 0.63
Weighted average shares outstanding-basic 18,631,485 10,684,405
Weighted average shares outstanding-diluted 18,631,485 10,684,405
Non-controlled and Non-affiliated investments [Member]    
Income:    
Interest income $ 22,632 $ 12,211
Payment-in-kind interest income 713 199
Fee Income 837 196
Total Investment Income 24,182 12,606
Realized and unrealized gains (losses) on investments and foreign currency transactions    
Net realized gains (losses) on investments 88 0
Net change in unrealized gains (losses) (4,115) 904
Non-controlled Affiliated Investment [Member]    
Realized and unrealized gains (losses) on investments and foreign currency transactions    
Net change in unrealized gains (losses) 74 0
Controlled Affiliated Investment [Member]    
Income:    
Interest income 29 0
Payment-in-kind interest income 20 0
Total Investment Income 49 0
Realized and unrealized gains (losses) on investments and foreign currency transactions    
Net change in unrealized gains (losses) $ 220 $ 0
[1] The per common share data was derived using weighted average shares outstanding.