v3.26.1
MANAGEMENT FEE AND RELATED PARTIES
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
MANAGEMENT FEE AND RELATED PARTIES MANAGEMENT FEE AND RELATED PARTIES
Management Fee
As compensation for its services to the Fund, the Manager, from the date of the first capital contribution, June 25, 2024, receives an investment management fee from the Fund (the “Management Fee”). The aggregate annual amount of the Management Fee for each annual period (which is comprised of four whole fiscal quarters and which, in the case of the first year, commenced on the first day of the first fiscal quarter following the first capital contribution) calculated as a percentage of committed capital, is as follows:
Management Fee
Year 11.575%
Year 21.600%
Year 31.575%
Year 41.500%
Year 51.250%
Year 60.900%
Year 70.600%
Year 80.350%
Year 90.150%

There will be no Management Fee payable after the ninth-year anniversary of the first capital contribution date.

For the three and six months ended June 30, 2026 and 2025, Management Fees were calculated at 1.600% and 1.575% of the Company’s committed capital, respectively.
Management Fees of $1.6 million and $1.5 million were recognized as expenses for the three months ended June 30, 2026 and 2025, respectively. Management Fees of $3.1 million were recognized as expenses for both the six months ended June 30, 2026 and 2025, respectively.
Related Parties
Certain officers and directors of the Fund also serve as officers and directors of the Manager. The Articles of Incorporation of the Fund provide for indemnification of directors, officers, employees and agents (including the Manager) of the Fund to the fullest extent permitted by applicable state law and the 1940 Act, including the advance of expenses and reasonable counsel fees. The Articles of Incorporation of the Fund also contain a provision eliminating personal liability of a Fund director or officer to the Fund or its shareholder for monetary damages for certain breaches of their duty of care. For this reason, the Fund acquired a directors and officers insurance policy.
Transactions with WTI Fund X, Inc. (“Fund X”)

The Manager also serves as the investment manager for Fund X. So long as Fund X has capital available to invest in loan transactions with final maturities earlier than December 31, 2031 (the date on which Fund X’s existence automatically expires), the Fund may invest in each portfolio company in which Fund X invests, subject to the approval of the Fund’s Board. The Manager’s allocation process is designed to allocate investment opportunities fairly and equitably among the Fund and Fund X over time, and subject to the respective funds’ board approval, may be based on a methodology taking into account investment pace, the remaining commitment periods and other relevant factors.

The ability of the Fund to co-invest with Fund X and other clients advised by the Manager is subject to the conditions (the “Conditions”) with which the funds are currently complying while seeking certain exemptive relief from the SEC from the provisions of Sections 17(d) and 57 of the 1940 Act and Rule 17d-1 thereunder. To the extent that clients, other than Fund X, advised by the Manager (but in which the Manager has no proprietary interest) invest in opportunities available to the Fund, the Manager will allocate such opportunities among the Fund and such other clients in a manner deemed fair and equitable considering all of the circumstances in accordance with the Conditions.