Financial Highlights (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents the Company's financial highlights for the three months ended March 31, 2026:


	Three Months Ended March 31, 2026

	Class S		Class D		Class I
Per Share Data:
Net asset value at beginning of period	$	24.40	$	24.40	$	24.40
Net investment income (1)		0.43		0.47		0.48
Net unrealized and realized gains (losses) (2)		(0.44)		(0.45)		(0.44)
Net increase (decrease) in net assets resulting from operations		(0.01)		0.02		0.04
Distribution declared (3)
Net investment income		(0.43)		(0.47)		(0.48)
Net realized gains		—		—		—
Distributions in excess of net investment income		(0.06)		(0.05)		(0.06)
Net asset value at end of period	$	23.90	$	23.90	$	23.90

Total return (4)		(0.09)%		0.06%		0.12%
Shares outstanding, end of period		119,790,836		1,658,694		483,033,517
Weighted average shares outstanding		122,335,717		1,639,417		502,491,817
Ratio/Supplemental Data
Net assets at end of period	$	2,862,514	$	39,636	$	11,542,537
Annualized ratio of net expenses to average net assets (5)		7.81%		7.08%		6.96%
Annualized ratio of net investment income to average net assets (5)		7.18%		7.90%		8.03%
Portfolio turnover rate		8.67%		8.67%		8.67%
Asset coverage per unit (6)		2,362		2,362		2,362

The following table presents the Company's financial highlights for the three months ended March 31, 2025:


	Three Months Ended March 31, 2025

	Class S		Class D		Class I
Per Share Data:
Net asset value at beginning of period	$	24.86	$	24.86	$	24.86
Net investment income (1)		0.47		0.52		0.52
Net unrealized and realized gains (losses) (2)		(0.13)		(0.15)		(0.13)
Net increase (decrease) in net assets resulting from operations		0.34		0.37		0.39
Distribution declared (3)
Net investment income		(0.55)		(0.58)		(0.60)
Net realized gains		—		—		—
Distributions in excess of net investment income		—		—		—
Net asset value at end of period	$	24.65	$	24.65	$	24.65

Total return (4)		1.36%		1.51%		1.58%
Shares outstanding, end of period		94,805,350		1,065,047		365,419,534
Weighted average shares outstanding		90,529,907		1,050,664		345,263,251
Ratio/Supplemental Data
Net assets at end of period	$	2,336,682	$	26,250	$	9,006,550
Annualized ratio of net expenses to average net assets (5)		7.04%		6.23%		6.12%
Annualized ratio of net investment income to average net assets (5)		7.66%		8.46%		8.57%
Portfolio turnover rate		8.21%		8.21%		8.21%
Asset coverage per unit (6)		2,781		2,781		2,781

(1)

The per share data was derived by using the weighted average shares outstanding during the period.

(2)

The amount shown at this caption is the balancing amount derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio securities for the period because of the timing of sales of the Company’s shares in relation to fluctuating market values for the portfolio.

(3)

The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 7).

(4)

Total return is calculated as the change in net asset value ("NAV") per share (assuming dividends and distributions, if any, are reinvested in accordance with the Company’s dividend reinvestment plan), if any, divided by the beginning NAV per share (which for the purposes of this calculation is equal to the net offering price in effect at that time). An investment in the Company is subject to maximum upfront sales load of 3.5% and 1.5% for Class S shares and Class D shares, respectively, of the offering price, which will reduce the amount of capital available for investment. Class I shares are not subject to upfront sales load. Total return displayed is net of all fees, including all operating expenses such as management fees, incentive fees, general and administrative expenses, organization and amortized offering expenses, and interest expenses. Total return is not annualized.

(5)

Annualized for three months ended March 31, 2026 and 2025. Operating expenses may vary in the future based on the amount of capital raised and the Adviser’s election to receive expense support, if any.

(6)

The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our total assets, less all liabilities and indebtedness not represented by senior securities, divided by senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the asset coverage per unit. As of the three months ended March 31, 2026 and 2025, the Company's asset coverage was 236.2% and 278.1%, respectively.