v3.26.1
Consolidated Schedule of Investments - USD ($)
Dec. 31, 2025
Jun. 30, 2025
North America    
Cost $ 16,025,904 $ 19,784,641
Fair Value $ 16,126,398 $ 19,890,343
Fair Value as a Percentage of Net Assets 10.20% 6.20%
Cost, Total Investments and Cash Equivalent $ 142,117,927 $ 296,716,339
Fair Value, Total Investments and Cash Equivalent $ 185,360,458 $ 354,526,042
Fair Value as a Percentage of Net Assets, Total Investments and Cash Equivalent 117.20% 108.60%
Cost, Total Derivative Investments, at fair value  
Fair Value, Total Derivative Investments, at fair value   $ (24,605)
Fair Value as a Percentage of Net Assets  
Cost, Total Equity Investments $ 123,911,510 $ 254,277,237
Fair Value, Total Equity Investments $ 167,053,547 $ 312,005,843
Fair Value as a Percentage of Net Assets, Total Equity Investments 105.60% 95.50%
Cost, Total Investments, at fair value $ 139,937,414 $ 274,061,878
Fair Value, Total Investments, at fair value $ 183,179,945 $ 331,896,186
Fair Value as a Percentage of Net Assets, Total Investments, at fair value 115.80% 101.70%
Investment, Identifier [Axis]: Cash Equivalents - Money Market Fund    
North America    
Cost, Total Cash Equivalents $ 2,180,513 $ 22,654,461
Fair Value, Total Cash Equivalents $ 2,180,513 $ 22,654,461
Fair Value as a Percentage of Net Assets, Total Cash Equivalents 1.40% 6.90%
Investment, Identifier [Axis]: Cash Equivalents - Money Market Fund - JPMorgan U.S. Government Money Market Fund    
North America    
Type of Investment Cash Equivalents Cash Equivalents
Cost $ 2,180,513 $ 22,654,461
Fair Value $ 2,180,513 $ 22,654,461
Fair Value as a Percentage of Net Assets 1.40% 6.90%
Shares (in Shares) 2,180,513 22,654,461
Investment, Identifier [Axis]: Debt Investments - Europe    
North America    
Cost $ 4,253,445 $ 6,119,441
Fair Value $ 4,094,453 $ 6,071,031
Fair Value as a Percentage of Net Assets 2.60% 1.90%
Investment, Identifier [Axis]: Debt Investments - Europe - Substantial Holdco Limited    
North America    
Maturity Date Apr. 20, 2030 [1] Apr. 20, 2030 [2]
Type of Investment Delayed Draw Term Loan [1] Delayed Draw Term Loan [2]
Industry Telecommunications [1] Telecommunications [2]
Principal $ 3,181,759 [1] $ 4,574,143 [2]
Cost 4,253,445 [1] 6,119,441 [2]
Fair Value $ 4,094,453 [1] $ 6,071,031 [2]
Fair Value as a Percentage of Net Assets 2.60% [1] 1.90% [2]
Investment, Identifier [Axis]: Debt Investments - Europe - Substantial Holdco Limited | Maximum [Member]    
North America    
Interest Rate 8.00% 8.00% [2]
Investment, Identifier [Axis]: Debt Investments - Europe - Substantial Holdco Limited | Minimum [Member]    
North America    
Interest Rate 4.00% 4.00% [2]
Investment, Identifier [Axis]: Debt Investments - North America    
North America    
Cost $ 11,772,459 $ 13,665,200
Fair Value $ 12,031,945 $ 13,819,312
Fair Value as a Percentage of Net Assets 7.60% 4.30%
Investment, Identifier [Axis]: Debt Investments - North America - Galaxy Helios I LLC - SOFR    
North America    
Interest Rate 4.75% 4.75% [3],[4]
Maturity Date Aug. 15, 2028 [5],[6] Aug. 15, 2028 [3],[4]
Type of Investment Delayed Draw Term Loan [5],[6] Delayed Draw Term Loan [3],[4]
Industry Data Center [5],[6] Data Center [3],[4]
Principal $ 4,180,891 [5],[6] $ 6,039,317 [3],[4]
Cost 4,019,126 [5],[6] 5,911,867 [3],[4]
Fair Value $ 4,152,093 [5],[6] $ 6,039,317 [3],[4]
Fair Value as a Percentage of Net Assets 2.60% [5],[6] 1.90% [3],[4]
Investment, Identifier [Axis]: Debt Investments - North America - Pelican Power LLC - SOFR    
North America    
Interest Rate 5.50% 5.50% [3],[7]
Maturity Date Aug. 29, 2030 [5],[8] Aug. 29, 2030 [3],[7]
Type of Investment Term Loan [5],[8] Term Loan [3],[7]
Industry Utilities [5],[8] Utilities [3],[7]
Principal $ 7,753,333 [5],[8] $ 7,753,333 [3],[7]
Cost 7,753,333 [5],[8] 7,753,333 [3],[7]
Fair Value $ 7,879,852 [5],[8] $ 7,779,995 [3],[7]
Fair Value as a Percentage of Net Assets 5.00% [5],[8] 2.40% [3],[7]
Investment, Identifier [Axis]: Derivative Investments - Foreign Currency Contracts - Purchase British pound/Sell U.S. dollar    
North America    
Cost  
Fair Value   $ (700)
Fair Value as a Percentage of Net Assets  
Notional Amount   $ 119,454
Investment, Identifier [Axis]: Derivative Investments - Foreign Currency Contracts - Purchase U.S. dollar/Sell British pound    
North America    
Cost  
Fair Value   $ (8,304)
Fair Value as a Percentage of Net Assets  
Notional Amount   $ 5,698,882
Investment, Identifier [Axis]: Derivative Investments - Foreign Currency Contracts - Purchase U.S. dollar/Sell Euro    
North America    
Cost  
Fair Value   $ (15,601)
Fair Value as a Percentage of Net Assets  
Notional Amount   $ 2,294,662
Investment, Identifier [Axis]: Derivative Investments - Foreign Currency Contracts - Total Forward Currency Contracts    
North America    
Cost  
Fair Value   $ (24,605)
Fair Value as a Percentage of Net Assets  
Investment, Identifier [Axis]: Equity Investments - North America    
North America    
Cost $ 123,911,510 $ 254,277,237
Fair Value $ 167,053,547 $ 312,005,843
Fair Value as a Percentage of Net Assets 105.60% 95.50%
Investment, Identifier [Axis]: Equity Investments - North America - ENTEK Technology Holdings LLC    
North America    
Type of Investment Common Stock [9] Common Stock [10]
Industry Conventional Energy [9] Conventional Energy [10]
Cost $ 6,645,179 [9] $ 32,224,579 [10]
Fair Value $ 6,964,870 [9] $ 35,142,418 [10]
Fair Value as a Percentage of Net Assets 4.40% [9] 10.80% [10]
Asset Equity Interest Held Through ISQ Liberty Aggregator, L.P. [9] Equity Interest Held Through ISQ Liberty Aggregator, L.P. [10]
Ownership % of Investment 1.58% [9] 7.66% [10]
Investment, Identifier [Axis]: Equity Investments - North America - Ezee Fiber Texas, LLC    
North America    
Type of Investment Common Stock [9] Common Stock [10]
Industry Telecommunications [9] Telecommunications [10]
Cost $ 20,700,000 [9] $ 23,500,000 [10]
Fair Value $ 21,635,349 [9] $ 25,910,570 [10]
Fair Value as a Percentage of Net Assets 13.70% [9] 7.90% [10]
Asset Equity Interest Held Through ISQGIF III U.S. AIV Telecom Aggregator, L.P. [9] Equity Interest Held Through ISQGIF III U.S. AIV Telecom Aggregator, L.P. [10]
Ownership % of Investment 1.46% [9] 1.35% [10]
Investment, Identifier [Axis]: Equity Investments - North America - ISQ Orchid Fund, L.P.    
North America    
Type of Investment [11],[12]   Common Stock
Industry [11],[12]   Power & Utilities
Cost [11],[12]   $ 18,000,000
Fair Value [11],[12]   $ 18,000,000
Fair Value as a Percentage of Net Assets [11],[12]   5.50%
Asset [11],[12]   Equity Interest Held Through ISQ Company Holdings, LLC
Ownership % of Investment [11],[12]   2.96%
Investment, Identifier [Axis]: Equity Investments - North America - Liberty Tire Recycling LLC    
North America    
Type of Investment [10]   Common Stock
Industry [10]   Environmental Infrastructure
Cost [10]   $ 40,195,508
Fair Value [10]   $ 42,488,212
Fair Value as a Percentage of Net Assets [10]   13.00%
Asset [10]   Equity Interest Held Through ISQ Eagle Aggregator L.P.
Ownership % of Investment [10]   3.90%
Investment, Identifier [Axis]: Equity Investments - North America - Matterhorn Express Pipeline LLC    
North America    
Type of Investment Common Stock [9] Common Stock [10]
Industry Energy Transportation [9] Energy Transportation [10]
Cost $ 34,031,465 [9] $ 34,031,465 [10]
Fair Value $ 42,162,460 [9] $ 47,692,703 [10]
Fair Value as a Percentage of Net Assets 26.70% [9] 14.60% [10]
Asset Equity Interest Held Through ISQ Spyder Aggregator, L.P. [9] Equity Interest Held Through ISQ Spyder Aggregator, L.P. [10]
Ownership % of Investment 6.92% [9] 6.92% [10]
Investment, Identifier [Axis]: Equity Investments - North America - Mercury Data Center Holdings Limited    
North America    
Type of Investment [12]   Common Stock
Industry [12]   Data Center
Cost [12]   $ 10,000,000
Fair Value [12]   $ 10,341,481
Fair Value as a Percentage of Net Assets [12]   3.10%
Asset [12]   Equity Interest Held Through Mercury Data Center Fund III Aggregator, LLC
Ownership % of Investment [12]   0.55%
Investment, Identifier [Axis]: Equity Investments - North America - Ramudden Global AB    
North America    
Type of Investment   Common Stock
Industry   Traffic Control & Monitoring
Cost   $ 19,480,438
Fair Value   $ 19,143,089
Fair Value as a Percentage of Net Assets   5.90%
Asset   Equity Interest Held Through Cube Safety Aggregator, L.P.
Ownership % of Investment   1.33%
Investment, Identifier [Axis]: Equity Investments - North America - Summit School Services    
North America    
Type of Investment Common Stock [9] Common Stock [10]
Industry Transportation [9] Transportation [10]
Cost $ 27,455,820 [9] $ 19,345,247 [10]
Fair Value $ 33,108,760 [9] $ 25,957,442 [10]
Fair Value as a Percentage of Net Assets 20.90% [9] 8.00% [10]
Asset Equity Interest Held Through ISQ Bus Aggregator, L.P. [9] Equity Interest Held Through ISQ Bus Aggregator, L.P. [10]
Ownership % of Investment 8.16% [9] 8.16% [10]
Investment, Identifier [Axis]: Equity Investments - North America - Transport Equipment Network (TEN), LLC    
North America    
Type of Investment Common Stock [13] Common Stock [14]
Industry Transportation [13] Transportation [14]
Cost $ 35,079,046 [13] $ 57,500,000 [14]
Fair Value $ 63,182,108 [13] $ 87,329,928 [14]
Fair Value as a Percentage of Net Assets 39.90% [13] 26.70% [14]
Asset Equity Interest Held Through Transportation Equipment Network (TEN), LLC [13] Equity Interest Held Through Transportation Equipment Network (TEN), LLC [14]
Ownership % of Investment 6.29% [13] 6.29% [14]
[1] Includes a delayed draw term loan component where an additional principal of £2,450,000 is unfunded as of December 31, 2025. The unfunded loan commitment rate is 0.75%.
[2] Includes a delayed draw term loan component where an additional principal of £1,134,615 is unfunded as of June 30, 2026. The unfunded loan commitment rate is 2.00%.
[3] Floating rate note. Rate shown is the rate at June 30, 2026.
[4] Includes a delayed draw term loan component where an additional principal of $627,350 is unfunded as of June 30, 2026. The unfunded loan commitment rate is 0.75%.
[5] Floating rate note. Rate shown is the rate at December 31, 2025.
[6] Includes a delayed draw term loan component where an additional principal of $2,485,776 is unfunded as of December 31, 2025. The unfunded loan commitment rate is 0.75%.
[7] Investment contains a 2.00% floor rate at June 30, 2026.
[8] Investment contains a 2.00% floor rate at December 31, 2025.
[9] Series II holds its investments in Portfolio Companies indirectly through the Assets noted in the schedule above.
[10] Series II holds its investments in Portfolio Companies indirectly through the Assets noted in the schedule above.
[11] Series II holds its investment in the Inkia Energy business through its investment in Inti Holdings LLC indirectly through ISQ Orchid Fund, L.P. The investment in ISQ Orchid Fund, L.P. is restricted from redemption.
[12] Series II holds its investment in the KIO Networks business through its investment in Mercury Data Center Holdings Limited, indirectly through Mercury Data Center Fund III Aggregator, LLC.
[13] Series II holds its investment in Transport Equipment Network (TEN), LLC indirectly through an intermediate entity that is wholly-owned by Series II.
[14] Series II holds its investment in Transport Equipment Network (TEN), LLC indirectly through an intermediate entity that is wholly owned by Series II.