v3.26.1
Stock Issuances and Share Repurchase Program
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Stock Issuances and Share Repurchase Program Stock Issuances and Share Repurchase Program
Stock Issuances
The Fund has the authority to issue an unlimited number of Common Shares of any class, par value $0.01 per share, and an unlimited number of preferred shares, par value $0.01 per share.
Prior to the BDC Election Date, on July 7, 2025, the Fund issued 600 Class I shares to an affiliate of the Adviser, at $25.00 per share for proceeds of $15. In addition, on November 6, 2025, the Fund issued 3,947,888 Class I shares to another affiliate of the Adviser, at $25.33 per share for proceeds of $100,000.
The following table summarizes the issuance of Class I shares in the Fund's Public Offering during the three months ended March 31, 2026:
Date
Price Per Share
Shares IssuedProceeds
Three months ended March 31, 2026:
February 2, 2026$25.65 41,462 $1,064 
March 2, 2026$25.69 29,202 750 
Total
70,664 $1,814 
During the three months ended March 31, 2026, the Fund issued a de minimis amount of Class I shares under the DRIP.
As of March 31, 2026 and December 31, 2025, the Fund has not offered or sold any Class S or Class D shares.
Share Repurchase Program
At the discretion of the Board and subject to available liquidity, beginning no later than the quarter ending December 31, 2027, the Fund intends to commence a share repurchase program in which the Fund intends to offer to repurchase up to 5% of the Fund's Common Shares outstanding (by number of shares) in each quarter. The Board may amend, suspend or terminate the share repurchase program at any time if it deems such action to be in the Fund's best interest and the best interest of the Fund's common shareholders. As a result, share repurchases may not be available each quarter. The Fund will conduct any such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the 1940 Act, with the terms of such tender offer published in a tender offer statement to be sent to all shareholders and filed on Schedule TO. All shares purchased by the Fund pursuant to the terms of each tender offer will thereafter will be authorized and unissued shares.
Under the Fund's share repurchase program, to the extent the Fund offers to repurchase shares in any particular quarter, the Fund expect to repurchase shares pursuant to tender offers using a purchase price equal to the NAV per share as of the last calendar day of the applicable month designated by the Board, except that the Fund deducts 2.00% from such NAV for shares that have not been outstanding for at least one year (the "Early Repurchase Deduction"). The Early Repurchase Deduction will not apply to shares acquired through the Fund's DRIP and may be waived by the Fund in certain instances.
During the three months ended March 31, 2026, the Fund did not repurchase any Common Shares.