From time to time, the Company may enter into commitments to fund investments in the form of revolving credit, delayed draw, or equity commitments, which require the Company to provide funding when requested by portfolio companies in accordance with underlying loan agreements. The Company had the following outstanding unfunded commitments as of the following periods:



	As of March 31, 2026		As of December 31, 2025
Revolving loan commitments	$	311,527	$	364,759
Delayed draw loan commitments	370,107		459,339

Debt commitments	$	681,634	$	824,098

Specialty finance equity commitments	$	30,688	$	31,038
Common equity commitments	3,289		3,977

Equity commitments	$	33,977	$	35,015

Total Unfunded Commitments	$	715,611	$	859,113

As of March 31, 2026, the Company believed it had adequate financial resources to satisfy the unfunded portfolio company commitments that the Company may be required to fund.

The table below presents the total amount of organization and offering costs, inclusive of organization and offering costs deferred under the expense deferral agreement, incurred by the Adviser and its affiliates since inception and charged to the Company as of the following dates:



	As of March 31, 2026		As of December 31, 2025

Organizational and offering costs incurred by the Adviser	$	4,936	$	4,936
Organizational and offering costs charged to the Company(1)	4,936		4,936

_____________

(1)As of March 31, 2026, $3.8 million relates to offering costs and $1.1 million relates to organizational costs. The organizational costs were incurred by the Adviser prior to the Company meeting the first installment of the Expense Deferral Agreement. The organizational costs were subsequently incurred in the Consolidated Statements of Operations as professional fees and other general and administrative as the Company met the expense deferral installments applicable for those periods.

Under the Investment Advisory Agreement, there will be no liability on the Company’s part for the offering or organization costs funded by the Adviser or its affiliates until the Company has satisfied the minimum offering requirement. At such time, the Adviser will be entitled to receive up to 1.5% of gross offering proceeds raised in the Company’s continuous public offering until all organization and offering costs funded by the Adviser or its affiliates have been recovered.

The table below presents the total amount of organization and offering costs incurred by the Adviser and its affiliates and charged to the Company for the following periods:


	For the Three Months Ended March 31,
	2026		2025
Organizational and offering costs incurred by the Adviser	$	—	$	75
Organizational and offering costs charged to the Company	—		643

The Adviser has agreed to incur and pay certain expenses pursuant to the Expense Deferral Agreement prior to April 30, 2023. The Company will be obligated to reimburse the aggregate amount of expenses previously paid by the Adviser in eighteen equal installments, upon meeting specified conditions.

The table below presents the total amount of expenses incurred by the Adviser under the Expense Deferral Agreement as of the following periods:


	As of March 31, 2026		As of December 31, 2025
Expenses incurred by the Adviser	$	7,679	$	7,679
Organizational and offering costs incurred by the Adviser	4,299		4,299
Total Expenses Incurred by the Adviser	$	11,978	$	11,978

The first installment became an obligation of the Company on December 1, 2023, when the Company reached $1.75 billion in Net Subscriptions received from the sale of the Company’s common shares, and each of the seventeen remaining installments will become an obligation of the Company for each $75.0 million in Net Subscriptions received from the sale of the Company’s common shares thereafter.

The table below presents the number of installments and the amount the Company became obligated to reimburse the Adviser for the following periods:


	For the Three Months Ended March 31,
	2026		2025
Number of installments met by the Company	—		3

Expenses reimbursed to the Adviser	$	—	$	1,428
Organizational and offering costs reimbursed to the Adviser	—		568
Total Expenses Reimbursed to the Adviser	$	—	$	1,996

As of March 31, 2025, the Company met the final installment under the expense deferral agreement and there were no expenses remaining. See “Note 3 — Agreements and Related Party Transactions.”

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2026, the Company was not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.