v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net Income (Loss) $ 2,860 $ (45)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Amortization of deferred financing costs 163 97
Accretion of discounts on investments (125) (34)
Net realized (gain) loss on investments (14) 63
Net change in unrealized (appreciation) depreciation on investments 194 (189)
Cost of investments purchased (30,668) (42,541)
Proceeds from repayments and sales of investments 1,530 182
Net (purchases) sales of short-term investments (953) 0
Payment-in-kind interest capitalized (325) (8)
Changes in operating assets and liabilities:    
Receivable for interest and other income (228) (89)
Deferred offering costs (249) 0
Prepaid expenses and other assets (24) (1,351)
Other receivables (1) 0
Prefunded investments (5,049) (7,558)
Due to affiliates (30) 90
Accrued expenses and other liabilities 144 66
Interest and credit facility fees payable 87 896
Management fee payable 125 0
Incentive fees payable 109 0
Payable for securities purchased 0 9,733
Net cash used in operating activities (32,454) (40,688)
Cash flows from financing activities:    
Capitalization of deferred financing costs (1,332) 0
Capital contributions 12,908 0
Capital distributions, net of distributions payable (5,018) 0
Proceeds from promissory note borrowings 0 31,727
Borrowings from line of credit 35,000 21,500
Repayments from line of credit (9,500) 0
Net cash provided by financing activities 32,058 53,227
Net decrease in cash and restricted cash (396) 12,539
Cash and restricted cash, beginning of period 1,986 346
Cash and restricted cash, end of period 1,590 12,885
Supplemental disclosures    
Interest, including credit facility fees, paid during the period 2,667 368
Distributions payable 460 0
Cash paid during the period for taxes 61 0
Conversion of promissory note to Class I Shares 50,000 0
Restricted Cash and Cash Equivalent [Abstract]    
Cash 18 12,885
Restricted Cash 1,572 0
Total cash and restricted cash shown in the Consolidated Statements of Cash Flows [1] $ 1,590 $ 12,885
[1] See Note 2 - Significant Accounting Policies for a description of cash and restricted cash.