v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net increase (decrease) in net assets resulting from operations     $ 12,538 $ 8,662  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Net change in unrealized (appreciation) depreciation on investments     903 (2,709)  
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts $ 124 $ 1,775 (2,130) 2,985  
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies     3 (68)  
Net realized (gain) loss on investments     (383) 1,008  
Payment-in-kind interest capitalized     (202) (170)  
Net accretion of discount and amortization of premium     (1,410) (911)  
Amortization of deferred financing costs     178 131  
Purchases of investments     (129,117) (69,734)  
Proceeds from principal repayments     61,848 27,373  
Changes in operating assets and liabilities:          
Interest receivable from non-controlled/non-affiliated investments     (1,142) (473)  
Dividends receivable from non-controlled/non-affiliated investments     (20) 0  
Receivable for investments sold     132 (122)  
Due from Manager     759 241  
Prepaid expenses     9 19  
Other assets     0 (543)  
Management fee payable     84 0  
Incentive fees payable     766 0  
Capital gains incentive fees payable     95 0  
Professional fees payable     154 (137)  
Accrued financing cost payable     425 0  
Pricing fees payable     (18) (5)  
Interest payable     582 (97)  
Custodian and accounting fees payable     (86) (29)  
Transfer agent's fees payable     10 (16)  
Affiliated transfer agent's fees payable     4 4  
Service and distribution fees payable     2 0  
Accrued expenses and other liabilities     (30) (30)  
Net cash provided by (used in) operating activities     (56,046) (34,621)  
Cash flows from financing activities:          
Borrowings of credit facility     151,700 32,100  
Repayments of credit facility     (169,600) (30,500)  
Deferred financing costs paid     (1,449) (105)  
Reverse repurchase agreements     (7,670) 0  
Promissory notes payable     1 0  
Proceeds from issuance of Common Shares     80,617 33,913  
Repurchased shares     (634) 0  
Distributions paid in cash     (2,527) (198)  
Net cash provided by (used in) financing activities     50,438 35,210  
Net increase (decrease) in cash and cash equivalents, including foreign currency     (5,608) 589  
Effect of foreign exchange rate changes on cash and cash equivalents     (3) 68  
Cash and cash equivalents, beginning of period     18,761 5,125 $ 5,125
Cash and cash equivalents, end of period, including foreign currency $ 13,150 [1] $ 5,782 13,150 [1] 5,782 $ 18,761
Supplemental information and non-cash activities:          
Interest paid during the period     4,158 3,434  
Distribution payable     2,525 1,862  
Issuance of Common Shares in connection with distribution reinvestment plan     11,008 8,772  
Non-cash purchases of investments     0 1,703  
Non-cash sales of investments     $ 0 $ (1,703)  
[1]

(*) As of June 30, 2026 cash and cash equivalents includes cash of $8,718, cash equivalents of $4,157 and foreign currency of $275. As of June 30, 2025 cash and cash equivalents includes cash of $3,638, cash equivalents of $118 and foreign currency of $2,026.