Net Assets (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Asset Net [Abstract] |
|
| Summary of Transactions in Common Shares of Beneficial Interest |
The following table summarizes transactions in Common Shares during the three and six months ended June 30, 2026 and 2025:
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Three Months Ended June 30, 2026 |
|
Three Months Ended June 30, 2025 |
|
Six Months Ended June 30, 2026 |
|
Six Months Ended June 30, 2025 |
Class S: |
|
Shares* |
|
Amount* |
|
Shares* |
|
Amount* |
|
Shares* |
|
Amount* |
|
Shares* |
|
Amount* |
Proceeds from shares sold |
|
1,392,453 |
$ |
33,269 |
|
11,138,920 |
$ |
274,331 |
|
6,448,048 |
$ |
156,021 |
|
24,873,564 |
$ |
615,106 |
Share conversion |
|
(247,186) |
|
(5,908) |
|
(183,579) |
|
(4,523) |
|
(250,587) |
|
(5,991) |
|
(296,866) |
|
(7,330) |
Repurchase of common shares |
|
(2,505,291) |
|
(59,709) |
|
(1,206,868) |
|
(29,694) |
|
(7,694,880) |
|
(183,992) |
|
(2,299,575) |
|
(56,626) |
Early repurchase deduction |
|
— |
|
103 |
|
— |
|
6 |
|
— |
|
224 |
|
— |
|
57 |
Distributions reinvested |
|
1,333,205 |
|
31,857 |
|
1,267,018 |
|
31,195 |
|
2,709,217 |
|
65,288 |
|
2,349,866 |
|
58,066 |
Net increase (decrease) |
|
(26,819) |
$ |
(388) |
|
11,015,491 |
$ |
271,315 |
|
1,211,798 |
$ |
31,550 |
|
24,626,989 |
$ |
609,273 |
Class D: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from shares sold |
|
42,462 |
|
1,015 |
|
144,031 |
|
3,548 |
|
112,787 |
|
2,724 |
|
162,064 |
|
3,995 |
Share conversion |
|
— |
|
— |
|
— |
|
— |
|
(74,850) |
|
(1,827) |
|
— |
|
— |
Repurchase of common shares |
|
(10,388) |
|
(248) |
|
(486) |
|
(12) |
|
(22,585) |
|
(539) |
|
(486) |
|
(12) |
Early repurchase deduction |
|
— |
|
2 |
|
— |
|
— |
|
— |
|
2 |
|
— |
|
— |
Distributions reinvested |
|
24,820 |
|
593 |
|
18,598 |
|
458 |
|
49,213 |
|
1,186 |
|
36,566 |
|
904 |
Net increase (decrease) |
|
56,894 |
$ |
1,362 |
|
162,143 |
$ |
3,994 |
|
64,565 |
$ |
1,546 |
|
198,144 |
$ |
4,887 |
Class I: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from shares sold |
|
6,524,634 |
|
155,868 |
|
64,943,982 |
|
1,599,036 |
|
25,755,440 |
|
623,782 |
|
129,448,338 |
|
3,199,727 |
Share conversion |
|
247,187 |
|
5,908 |
|
183,579 |
|
4,523 |
|
325,438 |
|
7,818 |
|
296,866 |
|
7,330 |
Repurchase of common shares |
|
(27,896,949) |
|
(664,827) |
|
(7,211,251) |
|
(177,428) |
|
(53,274,346) |
|
(1,271,281) |
|
(11,401,171) |
|
(280,697) |
Early repurchase deduction |
|
— |
|
66 |
|
— |
|
10 |
|
— |
|
475 |
|
— |
|
14 |
Distributions reinvested |
|
3,991,000 |
|
95,366 |
|
3,710,329 |
|
91,351 |
|
8,074,466 |
|
194,576 |
|
6,882,036 |
|
170,058 |
Net increase (decrease) |
|
(17,134,128) |
$ |
(407,619) |
|
61,626,639 |
$ |
1,517,492 |
|
(19,119,002) |
$ |
(444,630) |
|
125,226,069 |
$ |
3,096,432 |
Total net increase (decrease) |
|
(17,104,053) |
$ |
(406,645) |
|
72,804,273 |
$ |
1,792,801 |
|
(17,842,639) |
$ |
(411,534) |
|
150,051,202 |
$ |
3,710,592 |
* Includes activities related to prior periods processed in the current period.
|
| Summary of Net Asset Value Per Share and Offering Price |
The following table summarizes each month-end NAV per share for Class S shares, Class D shares and Class I shares during the six months ended June 30, 2026 and 2025:
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NAV Per Share |
For the Month Ended |
|
Class S |
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Class D |
|
Class I |
January 31, 2026 |
|
$ |
24.34 |
|
$ |
24.34 |
|
$ |
24.34 |
February 28, 2026 |
|
|
24.14 |
|
|
24.14 |
|
|
24.14 |
March 31, 2026 |
|
|
23.90 |
|
|
23.90 |
|
|
23.90 |
April 30, 2026 |
|
|
23.92 |
|
|
23.92 |
|
|
23.92 |
May 31, 2026 |
|
|
23.87 |
|
|
23.87 |
|
|
23.87 |
June 30, 2026 |
|
|
23.83 |
|
|
23.83 |
|
|
23.83 |
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NAV Per Share |
For the Month Ended |
|
Class S |
|
Class D |
|
Class I |
January 31, 2025 |
|
$ |
24.83 |
|
$ |
24.83 |
|
$ |
24.83 |
February 28, 2025 |
|
|
24.77 |
|
|
24.77 |
|
|
24.77 |
March 31, 2025 |
|
|
24.65 |
|
|
24.65 |
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|
24.65 |
April 30, 2025 |
|
|
24.58 |
|
|
24.58 |
|
|
24.58 |
May 31, 2025 |
|
|
24.64 |
|
|
24.64 |
|
|
24.64 |
June 30, 2025 |
|
|
24.60 |
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|
24.60 |
|
|
24.60 |
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| Summary of Distributions Declared |
The following table presents distributions that were declared during the six months ended June 30, 2026:
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Class S Distributions |
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Class D Distributions |
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Class I Distributions |
|
Record Date |
|
Declaration Date |
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Payment Date |
|
Per Share |
|
Amount* |
|
Per Share |
|
Amount* |
|
Per Share |
|
Amount* |
|
January 31, 2026 |
|
January 23, 2026 |
|
February 27, 2026 |
|
$ |
0.1624 |
|
$ |
19,570 |
|
$ |
0.1748 |
|
$ |
281 |
|
$ |
0.1800 |
|
$ |
89,426 |
|
February 28, 2026 |
|
February 23, 2026 |
|
March 26, 2026 |
|
|
0.1641 |
|
|
20,023 |
|
|
0.1753 |
|
|
288 |
|
|
0.1800 |
|
|
90,560 |
|
March 31, 2026 |
|
March 23, 2026 |
|
April 28, 2026 |
|
|
0.1626 |
|
|
20,268 |
|
|
0.1749 |
|
|
294 |
|
|
0.1800 |
|
|
91,509 |
|
April 30, 2026 |
|
April 23, 2026 |
|
May 28, 2026 |
|
|
0.1633 |
|
|
19,698 |
|
|
0.1751 |
|
|
297 |
|
|
0.1800 |
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|
87,464 |
|
May 31, 2026 |
|
May 22, 2026 |
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June 29, 2026 |
|
|
0.1627 |
|
|
19,726 |
|
|
0.1749 |
|
|
300 |
|
|
0.1800 |
|
|
88,021 |
|
June 30, 2026 |
|
June 23, 2026 |
|
July 29, 2026 |
|
|
0.1633 |
|
|
19,944 |
|
|
0.1751 |
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|
302 |
|
|
0.1800 |
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|
88,867 |
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|
|
|
|
|
|
$ |
0.9784 |
|
$ |
119,229 |
|
$ |
1.0501 |
|
$ |
1,762 |
|
$ |
1.0800 |
|
$ |
535,847 |
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* Totals may not foot due to rounding. The following table presents distributions that were declared during the six months ended June 30, 2025:
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Class S Distributions |
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Class D Distributions |
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Class I Distributions |
|
Record Date |
|
Declaration Date |
|
Payment Date |
|
Per Share |
|
Amount* |
|
Per Share |
|
Amount* |
|
Per Share |
|
Amount* |
|
January 31, 2025 |
|
January 22, 2025 |
|
February 27, 2025 |
|
$ |
0.1621 |
|
$ |
13,892 |
|
$ |
0.1747 |
|
$ |
182 |
|
$ |
0.1800 |
|
$ |
57,637 |
|
January 31, 2025 |
|
December 23, 2024 |
|
February 27, 2025 |
|
|
0.0200 |
|
|
1,714 |
|
|
0.0200 |
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|
21 |
|
|
0.0200 |
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|
6,405 |
(1) |
February 28, 2025 |
|
February 21, 2025 |
|
March 27, 2025 |
|
|
0.1638 |
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|
14,739 |
|
|
0.1752 |
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|
183 |
|
|
0.1800 |
|
|
62,318 |
|
February 28, 2025 |
|
December 23, 2024 |
|
March 27, 2025 |
|
|
0.0200 |
|
|
1,800 |
|
|
0.0200 |
|
|
21 |
|
|
0.0200 |
|
|
6,923 |
(1) |
March 31, 2025 |
|
March 24, 2025 |
|
April 28, 2025 |
|
|
0.1621 |
|
|
15,583 |
|
|
0.1747 |
|
|
186 |
|
|
0.1800 |
|
|
66,593 |
|
March 31, 2025 |
|
December 23, 2024 |
|
April 28, 2025 |
|
|
0.0200 |
|
|
1,896 |
|
|
0.0200 |
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|
21 |
|
|
0.0200 |
|
|
7,308 |
(1) |
April 30, 2025 |
|
April 22, 2025 |
|
May 29, 2025 |
|
|
0.1628 |
|
|
16,289 |
|
|
0.1749 |
|
|
192 |
|
|
0.1800 |
|
|
70,701 |
|
April 30, 2025 |
|
March 24, 2025 |
|
May 29, 2025 |
|
|
0.0200 |
|
|
2,001 |
|
|
0.0200 |
|
|
22 |
|
|
0.0200 |
|
|
7,856 |
(1) |
May 31, 2025 |
|
May 22, 2025 |
|
June 27, 2025 |
|
|
0.1623 |
|
|
16,725 |
|
|
0.1748 |
|
|
196 |
|
|
0.1800 |
|
|
74,897 |
|
May 31, 2025 |
|
March 24, 2025 |
|
June 27, 2025 |
|
|
0.0200 |
|
|
2,061 |
|
|
0.0200 |
|
|
22 |
|
|
0.0200 |
|
|
8,322 |
(1) |
June 30, 2025 |
|
June 23, 2025 |
|
July 29, 2025 |
|
|
0.1628 |
|
|
17,424 |
|
|
0.1749 |
|
|
215 |
|
|
0.1800 |
|
|
78,164 |
|
June 30, 2025 |
|
March 24, 2025 |
|
July 29, 2025 |
|
|
0.0200 |
|
|
2,141 |
|
|
0.0200 |
|
|
25 |
|
|
0.0200 |
|
|
8,685 |
(1) |
|
|
|
|
|
|
$ |
1.0959 |
|
$ |
106,264 |
|
$ |
1.1692 |
|
$ |
1,285 |
|
$ |
1.2000 |
|
$ |
455,810 |
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* Totals may not foot due to rounding. (1) Represents a special distribution.
|
| Summary of Sources of Cash Distributions Declared on Common Stock |
The following table reflects the sources of cash distributions on a U.S. GAAP basis that the Company has declared on its Common Shares during the six months ended June 30, 2026:
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Class S |
|
Class D |
|
Class I |
Source of Distribution |
|
Per Share |
|
Amount |
|
Per Share |
|
Amount |
|
Per Share |
|
Amount |
Net investment income |
|
$ |
0.8857 |
|
$ |
107,900 |
|
$ |
0.9719 |
|
$ |
1,630 |
|
$ |
0.9870 |
|
$ |
489,515 |
Net realized gains |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Distributions in excess of net investment income |
|
|
0.0927 |
|
|
11,329 |
|
|
0.0782 |
|
|
132 |
|
|
0.0930 |
|
|
46,332 |
|
|
$ |
0.9784 |
|
$ |
119,229 |
|
$ |
1.0501 |
|
$ |
1,762 |
|
$ |
1.0800 |
|
$ |
535,847 |
The following table reflects the sources of cash distributions on a U.S. GAAP basis that the Company has declared on its Common Shares during the six months ended June 30, 2025:
|
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|
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|
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|
|
|
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|
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|
Class S |
|
Class D |
|
Class I |
Source of Distribution |
|
Per Share |
|
Amount |
|
Per Share |
|
Amount |
|
Per Share |
|
Amount |
Net investment income |
|
$ |
1.0888 |
|
$ |
105,576 |
|
$ |
1.1621 |
|
$ |
1,277 |
|
$ |
1.1929 |
|
$ |
453,113 |
Net realized gains |
|
|
0.0071 |
|
|
688 |
|
|
0.0071 |
|
|
8 |
|
|
0.0071 |
|
|
2,697 |
Distributions in excess of net investment income |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
$ |
1.0959 |
|
$ |
106,264 |
|
$ |
1.1692 |
|
$ |
1,285 |
|
$ |
1.2000 |
|
$ |
455,810 |
|
| Schedule of Share Repurchases |
The following table presents information with respect to the Company’s share repurchases during the six months ended June 30, 2026:
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|
|
|
|
|
|
|
|
|
|
Repurchase Deadline Request |
|
Number of Shares Repurchased (all classes) |
|
Percentage of Outstanding Shares Repurchased (1) |
|
Price Paid Per Share |
|
Repurchase Pricing Date |
|
Amount Repurchased (all classes) (2) |
|
Maximum number of shares that may yet be purchased under the repurchase plan |
March 16, 2026 |
|
30,261,082 |
|
5.00% |
|
$ |
23.90 |
|
March 31, 2026 |
|
$ |
722,586 |
|
— |
June 15, 2026 |
|
30,224,152 |
|
5.00% |
|
$ |
23.83 |
|
June 30, 2026 |
|
$ |
720,104 |
|
— |
(1) Percentage is based on total shares as of the close of the previous calendar quarter. (2) Amounts shown net of Early Repurchase Deduction. The following table presents information with respect to the Company’s share repurchases during the six months ended June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repurchase Deadline Request |
|
Number of Shares Repurchased (all classes) |
|
Percentage of Outstanding Shares Repurchased (1) |
|
Price Paid Per Share |
|
Repurchase Pricing Date |
|
Amount Repurchased (all classes) (3) |
|
Maximum number of shares that may yet be purchased under the repurchase plan (2) |
March 17, 2025 |
|
5,282,627 |
|
1.38% |
|
$ |
24.65 |
|
March 31, 2025 |
|
$ |
130,147 |
|
13,919,523 |
June 16, 2025 |
|
8,418,605 |
|
1.83% |
|
$ |
24.60 |
|
June 30, 2025 |
|
$ |
207,118 |
|
14,645,892 |
(1) Percentage is based on total shares as of the close of the previous calendar quarter. (2) All repurchase requests were satisfied in full. (3) Amounts shown net of Early Repurchase Deduction.
|