v3.26.1
Commitments and Contingencies
3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
8.
Commitments and Contingencies

From time to time, the Fund may enter into commitments to fund investments. Such commitments are incorporated into the Fund's assessment of its liquidity position. The Fund's senior secured revolver commitments are generally available on a borrower's demand. The Fund's senior secured delayed draw term loan commitments are generally available on a borrower's demand and, once drawn, generally have the same remaining term as the associated loan agreement. Undrawn senior secured delayed draw term loan commitments generally have a shorter availability period than the term of the associated loan agreement.

A summary of the composition of the Fund’s unfunded commitments as of March 31, 2026 and December 31, 2025 is shown in the table below:

 

Portfolio Company

Investment Type

 

March 31, 2026

 

 

December 31, 2025

 

Accela Inc/US

1st Lien Revolver

 

$

7,108,216

 

 

$

 

Databricks Inc

1st Lien Delayed Draw Term Loan

 

 

34,993,259

 

 

 

1,016,073

 

Elessent Clean Technologies Inc

1st Lien Revolver

 

 

670,518

 

 

 

459,015

 

Gopher Resource LLC

1st Lien Revolver

 

 

40,636

 

 

 

 

Guava Buyer LLC

1st Lien Revolver

 

 

2,119,534

 

 

 

542,131

 

Guava Buyer LLC

1st Lien Delayed Draw Term Loan

 

 

1,186,939

 

 

 

464,684

 

Hammer IntermediateCo LLC

1st Lien Revolver

 

 

990,868

 

 

 

332,803

 

Industrial Service Solutions WC, Inc.

1st Lien Revolver

 

 

2,328,785

 

 

 

 

LVF Holdings Inc

1st Lien Delayed Draw Term Loan

 

 

 

 

 

1,315,913

 

Meta Buyer LLC

1st Lien Delayed Draw Term Loan

 

 

2,366,320

 

 

 

4,522,348

 

Meta Buyer LLC

1st Lien Revolver

 

 

1,972,759

 

 

 

1,972,759

 

Quirch Foods Holdings LLC

1st Lien Delayed Draw Term Loan

 

 

1,538,390

 

 

 

483,702

 

Radiate Holdco LLC

1st Lien Delayed Draw Term Loan

 

 

4,999,500

 

 

 

4,999,500

 

Recorded Books Inc (RB Media)

1st Lien Delayed Draw Term Loan

 

 

387,355

 

 

 

 

Recorded Books Inc (RB Media)

1st Lien Revolver

 

 

524,068

 

 

 

 

Resistance Holdings Inc

1st Lien Revolver

 

 

1,015,545

 

 

 

 

RKG Newco LLC

1st Lien Revolver

 

 

1,700,816

 

 

 

 

Shrieve Chemical Co LLC

1st Lien Revolver

 

 

494,406

 

 

 

317,710

 

Smarsh Inc

1st Lien Delayed Draw Term Loan

 

 

113,644

 

 

 

113,644

 

Smarsh Inc

1st Lien Revolver

 

 

89,400

 

 

 

69,702

 

USA Debusk LLC

1st Lien Revolver

 

 

486,082

 

 

 

 

USA Debusk LLC

1st Lien Delayed Draw Term Loan

 

 

694,403

 

 

 

 

Vantage Specialty Chemicals Inc

1st Lien Revolver

 

 

859,700

 

 

 

1,074,627

 

Xactus LLC

1st Lien Revolver

 

 

670,485

 

 

 

287,484

 

Total

 

 

$

67,351,628

 

 

$

17,972,095

 

 

In the normal course of its operations, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnifications. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. However, based on experience, the Fund believes the risk of significant loss to be remote.

From time to time, the Fund and its affiliates are subject to litigation arising in the normal course of business, including with respect to our portfolio companies. We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us.