Financial Highlights (Tables)

6 Months Ended

Jun. 30, 2026

The following are the financial highlights for the six months ended June 30, 2026 and 2025:


	For the Six Months Ended
	June 30, 2026			June 30, 2025
	Class I			Class I
Per Share Operating Performance: (1)
Net asset value, beginning of period	$	24.87		$	24.93
Income from investment operations:
Net investment income (loss) (2)		1.10			1.64
Net realized and unrealized gains (losses)		0.05			(0.15	)
Net increase (decrease) in net investment operations		1.15			1.49
Distributions declared:
From net investment income		(1.27	)		(1.64	)
Total distributions declared		(1.27	)		(1.64	)
Total increase (decrease) in net assets		(0.12	)		(0.15	)
Net asset value, end of period	$	24.75		$	24.78
Total Return (3)		4.75	%		6.14	%
Ratios and supplemental data:
Net assets, end of period (000’s)	$	291,845		$	163,389
Average number of Common Shares outstanding, end of period		10,695,707			5,760,996
Ratio of gross expenses to average net assets (4)		7.56	%		9.14	%
Ratio of waivers to average net assets (4)		(0.92	)%		(3.69	)%
Ratio of net expenses to average net assets (4) (6)		6.64	%		5.45	%
Ratio of net investment income (loss) to average net assets (4)		8.85	%		13.46	%
Portfolio turnover rate (5)		16.34	%		11.88	%
Asset coverage ratio		298.84	%		270.67	%

(1)

Selected data for a Net Asset Value per share outstanding throughout the period.

(2)

Calculated based on average shares outstanding during the period.

(3)

Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period.

(4)

Annualized.

(5)

The Company’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments and certain derivatives. If such transactions were included, the Company’s portfolio turnover rate may be higher.

(6)


	For the Six Months Ended
	June 30, 2026			June 30, 2025
	Class S			Class S
Per Share Operating Performance:(1)
Net asset value, beginning of period	$	25.42		$	25.40
Income from investment operations:
Net investment income (loss)(2)		1.01			1.56
Net realized and unrealized gains (losses)		0.07			(0.14	)
Net increase (decrease) in net investment operations		1.08			1.42
Distributions declared:
From net investment income		(1.17	)		(1.53	)
Total distributions declared		(1.17	)		(1.53	)
Total increase (decrease) in net assets		(0.09	)		(0.11	)
Net asset value, end of period	$	25.33		$	25.29
Total Return(3)		4.34	%		5.74	%
Ratios and supplemental data:
Net assets, end of period (000’s)	$	2,551		$	12
Average number of Common Shares outstanding, end of period		60,938			476
Ratio of gross expenses to average net assets (4)		15.61	%		399.31	%
Ratio of waivers to average net assets (4)		(8.25	)%		(393.04	)%
Ratio of net expenses to average net assets (4) (6)		7.36	%		6.27	%
Ratio of net investment income (loss) to average net assets (4)		7.99	%		12.37	%
Portfolio turnover rate (5)		16.34	%		11.88	%
Asset coverage ratio		298.84	%		270.67	%

(1)

Selected data for a Net Asset Value per share outstanding throughout the period.

(2)

Calculated based on average shares outstanding during the period.

(3)

Total return does not consider the effects of sales loads, if any. Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period.

(4)

Annualized.

(5)

(6)

Includes interest expense from the Revolving Credit Facility, Asset-Based Lending Facility and Other Short-Term borrowings, as applicable, of 3.53% and interest expense from the Revolving Credit Facility of 4.92%, which is being excluded from the Company’s contractual waiver for the six months ended June 30, 2026 and 2025, respectively. The interest expense on the promissory notes of 0.86% was waived for the six months ended June 30, 2026. Prior to April 22, 2026, the promissory note interest expense waiver was voluntary.


	For the Six Months Ended
	June 30, 2026			June 30, 2025
	Class D			Class D
Per Share Operating Performance:(1)
Net asset value, beginning of period	$	25.36		$	25.38
Income from investment operations:
Net investment income (loss)(2)		1.09			1.64
Net realized and unrealized gains (losses)		0.03			(0.16	)
Net increase (decrease) in net investment operations		1.12			1.48
Distributions declared:
From net investment income		(1.24	)		(1.61	)
Total distributions declared		(1.24	)		(1.61	)
Total increase (decrease) in net assets		(0.12	)		(0.13	)
Net asset value, end of period	$	25.24		$	25.25
Total Return(3)		4.53	%		5.98	%
Ratios and supplemental data:
Net assets, end of period (000’s)	$	17		$	13
Average number of Common Shares outstanding, end of period		654			481
Ratio of gross expenses to average net assets (4)		672.30	%		637.48	%
Ratio of waivers to average net assets (4)		(665.41	)%		(631.81	)%
Ratio of net expenses to average net assets (4) (6)		6.89	%		5.67	%
Ratio of net investment income (loss) to average net assets (4)		8.61	%		12.98	%
Portfolio turnover rate (5)		16.34	%		11.88	%
Asset coverage ratio		298.84	%		270.67	%

(1)

Selected data for a Net Asset Value per share outstanding throughout the period.

(2)

Calculated based on average shares outstanding during the period.

(3)

(4)

Annualized.

(5)

(6)

Includes interest expense from the Revolving Credit Facility, Asset-Based Lending Facility and Other Short-Term borrowings, as applicable, of 3.69% and interest expense from the Revolving Credit Facility of 4.92%, which is being excluded from the Company’s contractual waiver for the six months ended June 30, 2026 and 2025, respectively. The interest expense on the promissory notes of 80.63% was waived for the six months ended June 30, 2026. Prior to April 22, 2026, the promissory note interest expense waiver was voluntary.