v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Investments at fair value Non-controlled/non-affiliated investments Non-controlled/non-affiliated investments
Investments at fair value $ 429,915 [1],[2],[3] $ 361,554 [4],[5]
Cash 8,718 16,626
Cash equivalents (cost of 4,157) 4,157 0
Foreign currency, at value (cost of $275 and $2,132, respectively) 275 2,135
Interest receivable from non-controlled/non-affiliated investments 2,862 1,720
Dividends receivable from non-controlled/non-affiliated investments 36 16
Deferred financing costs 2,028 757
Receivable for investments sold 202 334
Unrealized appreciation on OTC forward foreign currency exchange contracts 817 13
Due from Manager $ 0 $ 759
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] srt:ManagementMember srt:ManagementMember
Prepaid expenses $ 1 $ 10
Total assets 449,011 383,924
LIABILITIES    
Debt 147,850 165,750
Incentive fees payable 766 0
Capital gains incentive fee payable 95 0
Management fees payable 84 0
Distribution payable (Note 8) 2,525 2,275
Payable for reverse repurchase agreements (cost of $0 and $7,670, respectively) 0 7,670
Unrealized depreciation on OTC forward foreign currency exchange contracts 350 1,676
Professional fees payable 668 514
Accrued financing cost payable 425 0
Pricing fees payable 0 18
Interest payable 1,292 710
Custodian and accounting fees payable 166 252
Promissory notes payable 215 214
Transfer agent's fees payable 54 44
Affiliated transfer agent's fees payable 13 9
Service and distribution fees payable [6] 2 0
Accrued expense and other liabilities 93 123
Total liabilities 154,598 179,255
Commitments and contingencies (Note 7)
NET ASSETS    
Common Shares, $0.001 par value (unlimited shares authorized; 11,893,415 and 8,230,021 shares issued and outstanding, respectively) 12 8
Paid in capital in excess of par 294,412 203,425
Total distributable earnings/(accumulated losses) (11) 1,236
Total net assets 294,413 204,669
Total liabilities and net assets 449,011 383,924
Non-controlled/non-affiliated investments    
ASSETS    
Investments at fair value [7] 425,609 359,364
Controlled/affiliated investments    
ASSETS    
Investments at fair value 4,306 $ 2,190
Class I Shares    
NET ASSETS    
Total net assets 291,845  
Class S Shares    
NET ASSETS    
Total net assets 2,551  
Class D Shares    
NET ASSETS    
Total net assets $ 17  
[1] All investments are valued using unobservable inputs (Level 3), unless otherwise noted (see “Note 2. Accounting Policies” and “Note 5. Fair Value Measurements”).
[2] Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.
[3] Unless otherwise indicated, issuers of debt investments held by the Company are denominated in USD. All debt investments are income producing unless otherwise indicated.
[4] Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company is deemed to “control” a portfolio company if the Company owns more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. Under the 1940 Act, the Company is deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities.
[5] Unless otherwise indicated, issuers of debt investments held by the Company are denominated in USD. All debt investments are income producing unless otherwise indicated.
[6] Less than $500
[7] Includes fair value of unfunded loan commitments which are disclosed in footnote seven within the Consolidated Schedule of Investments and Note 7. Commitments and Contingencies.