v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net increase (decrease) in members' capital resulting from operations $ 2,299 $ 3,903
Adjustments to reconcile net increase (decrease) in members' capital resulting from operations to net cash provided by (used in) operating activities:    
Net change in unrealized (appreciation) depreciation on investments 5,154 955
Net unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies 2 (1)
Net realized (gain) loss on investments (12) 0
Net accretion of discount and amortization of premium on investments (254) (131)
Payment-in-kind interest and dividend capitalized (309) (164)
Amortization of deferred financing costs 250 140
Purchases of investments and change in payable for investments purchased (52,594) (76,130)
Proceeds from sale of investments and principal repayments and change in receivable for investments sold/repaid 11,740 3,600
Changes in operating assets and liabilities:    
(Increase) decrease in deferred financing costs 0 (33)
(Increase) decrease in prepaid expenses and other assets (72) (14)
(Decrease) increase in payable to affiliates 16 146
(Decrease) increase in management fees payable (195) (320)
(Decrease) increase in incentive fees payable (209) (341)
(Decrease) increase in interest payable 763 316
(Decrease) increase in accrued expenses and other liabilities (270) (125)
Net cash provided by (used in) operating activities (32,924) (68,260)
Cash flows from financing activities:    
Borrowings on debt 57,000 56,000
Repayments on debt (36,000) (26,000)
Distributions paid in cash (4,028) (2,617)
Proceeds from issuance of Units 19,198 27,946
Subscriptions received in advance 937 17,815
Repurchases of Units (15,754) (6,487)
Net cash provided by (used in) financing activities 21,353 66,657
Net increase (decrease) in cash (11,571) (1,603)
Effect of foreign exchange rate changes on cash 2 1
Cash at beginning of period 33,697 29,112
Cash at end of period 22,128 27,510
Supplemental information and non-cash activities:    
Interest expense paid 3,670 1,651
Distribution reinvestment 3,264 1,733
Distributions payable 2,940 2,173
Accrued but unpaid repurchases of common units 14,819 5,024
Accrued but unpaid deferred financing costs 0 33
Non-Controlled/Non-Affiliated Investments    
Changes in operating assets and liabilities:    
(Increase) decrease in interest and dividend receivable from non-controlled/non-affiliated investments $ 767 $ (61)