CONDENSED CONSOLIDATED SCHEDULE OF INVESTMENTS - USD ($)
$ in Thousands |
Mar. 31, 2026 |
Dec. 31, 2025 |
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
$ 66,958
|
|
$ 41,722
|
|
| Investment Owned, Fair Value |
|
73,576
|
|
44,900
|
|
| Derivative assets, at fair value |
|
493
|
|
759
|
|
| Derivative liabilities, at fair value |
|
(265)
|
|
(359)
|
|
| Cash and Cash Equivalents |
|
12,710
|
|
10,833
|
|
| Total Investments, Derivative Instruments and Cash Equivalents |
|
$ 86,515
|
[1] |
$ 56,134
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
105.57%
|
|
121.55%
|
|
| Americas |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
$ 44,900
|
|
$ 29,034
|
|
| Europe |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
11,198
|
|
9,095
|
|
| Australia |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
5,133
|
|
3,478
|
|
| Japan |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
12,280
|
|
7,850
|
|
| Other Asia |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
6,157
|
|
3,098
|
|
| Investments in portfolio companies |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 73,576
|
[1] |
$ 44,900
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
89.78%
|
|
97.22%
|
|
| Investments in portfolio companies | Americas |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
$ 20,942
|
|
$ 10,301
|
|
| Investments in portfolio companies | Europe |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
10,528
|
|
9,095
|
|
| Investments in portfolio companies | Australia |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
5,133
|
|
3,478
|
|
| Investments in portfolio companies | Japan |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
12,280
|
|
7,850
|
|
| Investments in portfolio companies | Other Asia |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
6,157
|
|
3,098
|
|
| Derivative Instruments |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
0
|
|
0
|
|
| Total Derivative Instruments |
|
$ 228
|
[1] |
$ 400
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
0.28%
|
|
0.87%
|
|
| Cash Equivalents |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
|
|
$ 10,833
|
|
| Cash and Cash Equivalents |
|
$ 12,710
|
[1] |
$ 10,833
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
15.51%
|
|
23.46%
|
|
| Cash Equivalents | Americas |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
$ 12,710
|
|
|
|
| Portfolio Company |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 60,001
|
[1] |
$ 35,962
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
73.20%
|
|
77.87%
|
|
| Affiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 6,507
|
[1] |
$ 6,011
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
7.94%
|
|
13.01%
|
|
| Affiliated Investee Fund | Investments in portfolio companies | Americas |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
$ 5,198
|
|
$ 5,418
|
|
| Affiliated Investee Fund | Investments in portfolio companies | Europe |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
670
|
|
|
|
| Unaffiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 7,068
|
[1] |
$ 2,927
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
8.62%
|
|
6.34%
|
|
| Unaffiliated Investee Fund | Investments in portfolio companies | Americas |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Amortized cost |
|
$ 6,050
|
|
$ 2,482
|
|
| Aerospace & Defense | Portfolio Company |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 2,724
|
[1] |
$ 943
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
3.32%
|
|
2.04%
|
|
| Aerospace & Defense | Affiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 4,022
|
[1] |
$ 4,024
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
4.91%
|
|
8.71%
|
|
| Consumer Services | Portfolio Company |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 729
|
[1] |
$ 708
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
0.89%
|
|
1.53%
|
|
| Financial Services | Portfolio Company |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 7,651
|
[1] |
$ 3,745
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
9.34%
|
|
8.11%
|
|
| Financial Services | Affiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 371
|
[1] |
$ 361
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
0.45%
|
|
0.78%
|
|
| Healthcare | Portfolio Company |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 17,651
|
[1] |
$ 8,217
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
21.53%
|
|
17.79%
|
|
| Healthcare | Affiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 1,448
|
[1] |
$ 1,627
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
1.77%
|
|
3.52%
|
|
| Industrials | Portfolio Company |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 17,392
|
[1] |
$ 10,575
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
21.21%
|
|
22.90%
|
|
| Industrials | Affiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1] |
$ 667
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
|
0.81%
|
|
|
|
| Industrials | Unaffiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 2,433
|
[1] |
$ 2,317
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
2.97%
|
|
5.02%
|
|
| Technologies | Portfolio Company |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 13,853
|
[1] |
$ 11,774
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
16.91%
|
|
25.50%
|
|
| Various | Unaffiliated Investee Fund |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 4,635
|
[1] |
$ 610
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
5.66%
|
|
1.32%
|
|
| Investment, Identifier [Axis]: Adastra |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2] |
|
|
$ 3,458
|
|
| Fair Value as Percentage of Net Assets (%) |
|
|
|
7.49%
|
|
| Investment, Identifier [Axis]: Audax Private Equity Beacon CF | Non-Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2] |
|
|
$ 2,317
|
|
| Fair Value as Percentage of Net Assets (%) |
|
|
|
5.02%
|
|
| Investment, Identifier [Axis]: Carlyle Moose Coinvestment, L.P. | Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2],[3] |
|
|
$ 4,024
|
|
| Fair Value as Percentage of Net Assets (%) |
[3] |
|
|
8.71%
|
|
| Investment, Identifier [Axis]: Foreign Currency Forward Contracts |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Derivative assets, at fair value |
|
$ 493
|
[1] |
$ 759
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
0.60%
|
|
1.64%
|
|
| Investment, Identifier [Axis]: Foreign Currency Forward Contracts (liabilities) |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Derivative liabilities, at fair value |
|
$ (265)
|
[1] |
$ (359)
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
(0.32%)
|
|
(0.78%)
|
|
| Investment, Identifier [Axis]: Ingentis |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2] |
|
|
$ 3,465
|
|
| Fair Value as Percentage of Net Assets (%) |
|
|
|
7.50%
|
|
| Investment, Identifier [Axis]: Knack RCM |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 4,814
|
[1] |
$ 3,098
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
5.87%
|
|
6.71%
|
|
| Investment, Identifier [Axis]: Kyoden Co., Ltd |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 4,523
|
[1] |
$ 3,025
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
5.52%
|
|
6.55%
|
|
| Investment, Identifier [Axis]: Mantech |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
|
|
$ 4,000
|
|
| Fair Value as Percentage of Net Assets (%) |
|
|
|
8.71%
|
|
| Investment, Identifier [Axis]: Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Class) |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Cash and Cash Equivalents |
|
$ 12,710
|
[1] |
$ 10,833
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
15.51%
|
|
23.46%
|
|
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 1 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 2,724
|
[1],[4] |
$ 943
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
3.32%
|
[4] |
2.04%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 1 | Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2],[5] |
|
|
$ 361
|
|
| Fair Value as Percentage of Net Assets (%) |
[2],[5] |
|
|
0.78%
|
|
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 10 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1],[4] |
$ 8,264
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
[4] |
10.08%
|
|
|
|
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 2 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 729
|
[1],[4] |
$ 708
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
0.89%
|
[4] |
1.53%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 2 | Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2],[5] |
|
|
$ 1,627
|
|
| Fair Value as Percentage of Net Assets (%) |
[2],[5] |
|
|
3.52%
|
|
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 3 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 7,651
|
[1],[4] |
$ 3,745
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
9.34%
|
[4] |
8.11%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 4 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 1,970
|
[1],[4] |
$ 2,126
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
2.40%
|
[4] |
4.60%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 5 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 2,117
|
[1],[4] |
$ 2,068
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
2.58%
|
[4] |
4.48%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 6 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 3,697
|
[1],[4] |
$ 1,833
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
4.51%
|
[4] |
3.97%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 7 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 1,166
|
[1],[4] |
$ 330
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
1.42%
|
[4] |
0.72%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 8 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 330
|
[1],[4] |
$ 821
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
0.41%
|
[4] |
1.78%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Portfolio Companies 9 |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 736
|
[1],[4] |
$ 676
|
[2],[5] |
| Fair Value as Percentage of Net Assets (%) |
|
0.90%
|
[4] |
1.46%
|
[5] |
| Investment, Identifier [Axis]: Other Investments in Secondaries 1 | Non-Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1],[4] |
$ 2,433
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
[4] |
2.97%
|
|
|
|
| Investment, Identifier [Axis]: Other Investments in Secondaries 2 | Non-Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1],[4] |
$ 4,635
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
[4] |
5.66%
|
|
|
|
| Investment, Identifier [Axis]: Other Investments in Secondaries | Non-Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2],[5] |
|
|
$ 610
|
|
| Fair Value as Percentage of Net Assets (%) |
[5] |
|
|
1.32%
|
|
| Investment, Identifier [Axis]: Other Investments in affiliated investee funds 1 | Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1],[4] |
$ 4,022
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
[4] |
4.91%
|
|
|
|
| Investment, Identifier [Axis]: Other Investments in affiliated investee funds 2 | Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1],[4] |
$ 371
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
[4] |
0.45%
|
|
|
|
| Investment, Identifier [Axis]: Other Investments in affiliated investee funds 3 | Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1],[4] |
$ 1,448
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
[4] |
1.77%
|
|
|
|
| Investment, Identifier [Axis]: Other Investments in affiliated investee funds 4 | Affiliated Issuer |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1],[4] |
$ 667
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
[4] |
0.81%
|
|
|
|
| Investment, Identifier [Axis]: TRYT Inc. |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2] |
|
|
$ 2,984
|
|
| Fair Value as Percentage of Net Assets (%) |
|
|
|
6.46%
|
|
| Investment, Identifier [Axis]: TRYT, Inc. |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1] |
$ 4,779
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
|
5.83%
|
|
|
|
| Investment, Identifier [Axis]: Tarrytown Expocare Pharmacy |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
|
$ 6,518
|
[1] |
$ 2,993
|
[2] |
| Fair Value as Percentage of Net Assets (%) |
|
7.95%
|
|
6.48%
|
|
| Investment, Identifier [Axis]: Vantive |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1] |
$ 4,350
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
|
5.31%
|
|
|
|
| Investment, Identifier [Axis]: Waste Services Group |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[2] |
|
|
$ 3,691
|
|
| Fair Value as Percentage of Net Assets (%) |
|
|
|
7.99%
|
|
| Investment, Identifier [Axis]: Waste Services Group Pty Ltd |
|
|
|
|
|
| Schedule of Investments [Line Items] |
|
|
|
|
|
| Investment Owned, Fair Value |
[1] |
$ 5,633
|
|
|
|
| Fair Value as Percentage of Net Assets (%) |
|
6.87%
|
|
|
|
|
|