v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Investments at fair value:    
Investment Owned, Fair Value $ 1,127,505,656 [1],[2],[3],[4],[5] $ 949,824,441 [6],[7],[8],[9],[10]
Cash and cash equivalents 36,759,770 35,353,403
Receivable for loan repayment 6,204,423 317,888
Interest receivable 4,674,947 3,618,466
Prepaid investments 4,102,764 0
Receivable from affiliates 296,499 290,499
Receivable from investments sold 0 357,771
Total assets 1,179,544,059 989,762,468
Liabilities    
Borrowings under leverage facility (net of deferred financing costs of $6,280,800 and $4,562,245, respectively) (Note 8) 546,865,537 489,741,436
Borrowings under credit facility (net of deferred financing costs of $3,310,440 and $0, respectively) (Note 8) 15,167,201 0
Payable for investments purchased 30,829,513 19,382,036
Distributions due to shareholders 9,630,831 7,373,591
Interest payable 8,109,766 6,846,722
Payable to Adviser (Note 4) 2,482,774 1,507,733
Incentive fee payable (Note 4) 1,380,030 1,205,739
Deferred tax liability 1,131,332 1,017,037
Accounts payable and accrued expenses 850,515 720,227
Total liabilities 616,447,499 527,794,521
Commitments and Contingencies
Net Assets    
Shares, $0.001 par value per share, unlimited shares authorized, 22,930,549 and 18,433,976 shares issued and outstanding, respectively 22,931 18,434
Capital in excess of par value 572,913,259 460,917,756
Total distributable earnings (9,839,630) 1,031,757
Total Net Assets $ 563,096,560 $ 461,967,947
Net Asset Value per Share at End of Period $ 24.56 $ 25.06
Common stock, Shares Outstanding 22,930,549 18,433,976
Non-controlled/non-affiliated [Member]    
Investments at fair value:    
Investment Owned, Fair Value $ 1,109,101,919 $ 929,102,607
Affiliated investments [Member]    
Investments at fair value:    
Investment Owned, Fair Value [11] $ 18,403,737 $ 20,721,834
[1] All investments are exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act.
[2] All securities represent investments in companies based in the United States of America, unless otherwise noted. All of these investments are subject to restrictions as to their resale or transfer.
[3] At June 30, 2026, the cost of investments for income tax purposes was $1,138,190,995, the gross unrealized depreciation for federal tax purposes was $38,233,116, the gross unrealized appreciation for federal income tax purposes was $27,547,777, and the net unrealized depreciation was $10,685,339.
[4] Unless indicated otherwise, all investments are valued using Level 3 inputs within the Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”) fair value hierarchy. Refer to Note 3 — Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[5] Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Audax Private Credit Fund, LLC (the “Fund”) owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
[6] All investments are exempt from registration under the Securities Act and may be deemed to be “restricted securities” under the Securities Act.
[7] All securities represent investments in companies based in the United States of America, unless otherwise noted. All of these investments are subject to restrictions as to their resale or transfer.
[8] At December 31, 2025, the cost of investments for income tax purposes was $949,656,720, the gross unrealized depreciation for federal tax purposes was $25,633,371, the gross unrealized appreciation for federal income tax purposes was $25,801,092, and the net unrealized appreciation was $167,721.
[9] Unless indicated otherwise, all investments are valued using Level 3 inputs within the ASC 820 fair value hierarchy. Refer to Note 3 — Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[10] Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Fund owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
[11] The principal/share amount and ownership detail are shown in the Consolidated Schedule of Investments.