Transactions with Related Parties (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Composition of the Company's Incentive Fees

The composition of the Fund’s incentive fees for the three months ended March 31, 2026 was as follows:


	Three months ended March 31,
		2026
Part one incentive fees (1)		$	285
Part two incentive fees (2)		52
Total incentive fees		$	337
Incentive fee waivers (3)		(285)
Total incentive fees, net of incentive fee waivers		$	52

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(1)Based on pre-incentive fee net investment income.

(2)Based upon net realized and unrealized gains and losses, or capital gains and losses. The Fund accrues, but does not pay, a capital gains incentive fee in connection with any unrealized capital appreciation, as appropriate. If, on a cumulative basis, the sum of net realized gain (loss) plus net unrealized gain (loss) decreases during a period, the Fund will reverse any excess capital gains incentive fee previously accrued such that the amount of capital gains incentive fee accrued is no more than 12.5% of the sum of net realized gain (loss) plus net unrealized gain (loss). For the three months ended March 31, 2026, the Fund accrued capital gains incentive fees of $52 based on the unrealized appreciation of portfolio investments, none of which was payable to MC Advisors under the Advisory Agreement.

(3)Represents part one incentive fees voluntarily waived by MC Advisors.