Significant Accounting Policies (Policies)	6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation As an investment company, the accompanying consolidated financial statements of the Fund are prepared in accordance with the investment company accounting and reporting guidance of ASC Topic 946, “Financial Services — Investment Companies” as amended (“ASC Topic 946”), which incorporates the requirements for reporting on Form 10-Q and Articles 6 and 10 of Regulation S-X, as well as generally accepted accounting principles in the United States of America (“GAAP”). Certain financial information that is normally included in annual financial statements, including certain financial statement footnotes, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. Accordingly, certain disclosures accompanying annual financial statements prepared in accordance with GAAP are omitted. In the opinion of management of the Fund, the unaudited financial results included herein contain all adjustments, consisting solely of normal accruals, considered necessary for the fair presentation of financial statements for the interim period included herein. The current period's results of operations are not necessarily indicative of the operating results to be expected for future periods. The accounting records of the Fund are maintained in U.S. dollars. Certain prior period information has been reclassified to conform to the current period presentation. The reclassification has no effect on the Fund’s financial position or the result of the operations as previously reported.
Consolidation	Consolidation As provided under Regulation S-X and ASC Topic 946, the Fund will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Fund. Accordingly, the Fund consolidated the results of the Fund’s wholly-owned subsidiaries. As of June 30, 2026 and December 31, 2025, APCF SPV I, LLC (the “SPV”), Audax Private Credit Subsidiary, LLC, and APCF Equity, LLC, Delaware limited liability companies (collectively with the SPV, the “Subsidiaries”), are wholly owned subsidiaries of the Fund that are consolidated. All intercompany balances and transactions have been eliminated in consolidation. The SPV is the borrower under the Fund’s Leverage Facility as discussed in Note 8 — Commitments and Contingencies.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management of the Fund to make estimates and assumptions that affect reported amounts and disclosure in the consolidated financial statements. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ and these differences could be material.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash is stated at cost and cash equivalents are stated at fair value. The Fund considers all highly liquid investments purchased with maturities of three months or less and money market mutual funds to be cash equivalents. No cash equivalent balances were held at June 30, 2026 and December 31, 2025. The cash was not subject to any restrictions on withdrawal.
Expenses	Expenses The Fund is responsible for investment expenses, legal expenses, auditing fees and other expenses related to the Fund’s operations. Such fees and expenses, including expenses initially incurred by the Adviser, may be reimbursed by the Fund.
Investment Valuation Policy	Investment Valuation Policy The Fund’s assets and liabilities will be valued in accordance with the valuation policies and procedures of the Fund and the Adviser, as may be amended from time to time. Such valuations will be made in accordance with Rule 2a-5 under the Investment Company Act, the SEC rule governing the valuation of a BDC’s portfolio investments, and GAAP. The Board of Directors (the “Board”) has designated the Adviser as its “valuation designee” pursuant to Rule 2a-5 under the Investment Company Act, and in that role the Adviser is responsible for performing fair value determinations relating to all of the Fund’s investments, including periodically assessing and managing any material valuation risks and establishing and applying fair value methodologies, in accordance with valuation policies and procedures that have been approved by the Fund’s Board. Even though the Board designated the Adviser as its “valuation designee,” the Board’s audit committee continues to be responsible for overseeing the processes for determining fair valuation. When market prices are readily available, the Adviser shall value the Fund’s investments at the current market price. Where it is possible to obtain independent third party market quotes for securities, the Adviser will use these quotes to obtain a value for those securities. The Fund’s investments are expected to include loans and other instruments that do not have readily ascertainable market prices. Assets that are not publicly traded or whose market prices are not readily available are valued at fair value as determined in good faith by the Adviser. The Adviser will determine fair value for those investments through a valuation process that will be conducted at the end of each fiscal quarter by the valuation committees of our Adviser with the assistance of the Adviser’s investment and management personnel, finance and compliance teams, third-party valuation agents, and guidance from outside counsel, and reviewed by the audit committee of our Board. The Adviser will utilize the following multi-step process each quarter in determining fair value for the Fund’s investments for which market quotations are not readily available: • First, the Adviser’s investment professionals responsible for the portfolio investment and other senior members of the Adviser’s investment and management team, with oversight from the Adviser’s finance team, will make initial valuations of each investment; • Second, the Adviser’s investment professionals and management team, with oversight by the Adviser’s finance and compliance team, will document the preliminary valuation conclusions and oversee sample testing of valuations with third-party valuation agents; • Third, the preliminary valuation conclusions will be presented to the Adviser’s valuation committees as relevant, for consideration; • Fourth, the Adviser’s valuation committees will discuss the recommended valuations and determine, in good faith, the fair value of each investment; • Fifth, the valuation determinations of the Adviser’s valuation committees will be presented to the Adviser and then shared with the Fund’s chief executive officer and chief financial officer; and • Sixth, the Adviser will provide certain quarterly and annual reports to the Board.
Interest Income Recognition	Interest Income Recognition Interest income, adjusted for amortization of premium, acquisition costs, and amendment fees and the accretion of original issue discount (“OID”), are recorded on an accrual basis to the extent that such amounts are expected to be collected. Generally, a loan is placed on non-accrual status when management has reasonable doubt that the borrower will pay principal or interest in full. Management may make an exception when the loan has sufficient collateral value or is in the process of collection. Generally, non-accrual loans are returned to accrual status when all past-due principal and interest have been paid in cash and, in management’s judgment, the borrower is likely to make principal and interest payments in the future. As of June 30, 2026, the Fund had 9 investments across 4 issuers on non-accrual, which represented 4.66% and 2.21% of the Fund's cost and fair market value, respectively. As of December 31, 2025, the Fund had 8 investments across 3 issuers on non-accrual, which represented 4.38% and 3.04% of the Fund's cost and fair market value, respectively. The Fund may hold loans in the portfolio that contain OID and payment-in-kind (“PIK”) provisions. The Fund recognizes OID for loans originally issued at a discount as income over the life of the obligation based on an effective yield method. PIK interest, computed at the contractual rate specified in a loan agreement, is added to the principal balance of a loan and recorded as income over the life of the obligation. Therefore, the actual collection of PIK income may be deferred until the time of debt principal repayment. As of June 30, 2026, the Fund held 3 investments that had a PIK interest component. As of December 31, 2025, the Fund held 3 investments that had a PIK interest component. For the three and six months ended June 30, 2026, the Fund accrued PIK income in the amount of $79,282 and $91,536. For the three and six months ended June 30, 2025, the Fund accrued PIK income in the amount of $451,457 and $1,015,825. As of June 30, 2026 and December 31, 2025, the Fund held $36,759,770 and $35,353,403 cash and cash equivalents. For the three and six months ended June 30, 2026 and 2025, the Fund did not earn interest income related to cash.
Realized gain (loss) and net change in unrealized appreciation (depreciation)	Realized gain (loss) and net change in unrealized appreciation (depreciation) Investment transactions are accounted for on the trade date. Gain or loss on the sale of investments is calculated using the specific identification method. The Fund measures realized gain or loss by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized. Net change in unrealized appreciation or depreciation will reflect the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when a gain or loss is realized.
Foreign Currency	Foreign Currency The accounting records of the Fund are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing rates of exchange at year end. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions. The portion of both realized and unrealized gains and losses on investments that results from the fluctuations in foreign currency exchange rates are separately disclosed in the accompanying Consolidated Statements of Operations, when applicable.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs represent fees and other direct incremental costs incurred in connection with borrowings. These amounts are amortized over the contractual term of the Leverage Facility and the Credit Facility as discussed in Note 8 — Commitments and Contingencies.

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2026

As an investment company, the accompanying consolidated financial statements of the Fund are prepared in accordance with the investment company accounting and reporting guidance of ASC Topic 946, “Financial Services — Investment Companies” as amended (“ASC Topic 946”), which incorporates the requirements for reporting on Form 10-Q and Articles 6 and 10 of Regulation S-X, as well as generally accepted accounting principles in the United States of America (“GAAP”).

Certain financial information that is normally included in annual financial statements, including certain financial statement footnotes, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. Accordingly, certain disclosures accompanying annual financial statements prepared in accordance with GAAP are omitted. In the opinion of management of the Fund, the unaudited financial results included herein contain all adjustments, consisting solely of normal accruals, considered necessary for the fair presentation of financial statements for the interim period included herein. The current period's results of operations are not necessarily indicative of the operating results to be expected for future periods. The accounting records of the Fund are maintained in U.S. dollars.

Certain prior period information has been reclassified to conform to the current period presentation. The reclassification has no effect on the Fund’s financial position or the result of the operations as previously reported.

Consolidation

As provided under Regulation S-X and ASC Topic 946, the Fund will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Fund. Accordingly, the Fund consolidated the results of the Fund’s wholly-owned subsidiaries.

As of June 30, 2026 and December 31, 2025, APCF SPV I, LLC (the “SPV”), Audax Private Credit Subsidiary, LLC, and APCF Equity, LLC, Delaware limited liability companies (collectively with the SPV, the “Subsidiaries”), are wholly owned subsidiaries of the Fund that are consolidated. All intercompany balances and transactions have been eliminated in consolidation. The SPV is the borrower under the Fund’s Leverage Facility as discussed in Note 8 — Commitments and Contingencies.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management of the Fund to make estimates and assumptions that affect reported amounts and disclosure in the consolidated financial statements. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ and these differences could be material.

Cash and Cash Equivalents

Cash is stated at cost and cash equivalents are stated at fair value. The Fund considers all highly liquid investments purchased with maturities of three months or less and money market mutual funds to be cash equivalents. No cash equivalent balances were held at June 30, 2026 and December 31, 2025. The cash was not subject to any restrictions on withdrawal.

Expenses

The Fund is responsible for investment expenses, legal expenses, auditing fees and other expenses related to the Fund’s operations. Such fees and expenses, including expenses initially incurred by the Adviser, may be reimbursed by the Fund.

Investment Valuation Policy

The Fund’s assets and liabilities will be valued in accordance with the valuation policies and procedures of the Fund and the Adviser, as may be amended from time to time. Such valuations will be made in accordance with Rule 2a-5 under the Investment Company Act, the SEC rule governing the valuation of a BDC’s portfolio investments, and GAAP. The Board of Directors (the “Board”) has designated the Adviser as its “valuation designee” pursuant to Rule 2a-5 under the Investment Company Act, and in that role the Adviser is responsible for performing fair value determinations relating to all of the Fund’s investments, including periodically assessing and managing any material valuation risks and establishing and applying fair value methodologies, in accordance with valuation policies and procedures that have been approved by the Fund’s Board. Even though the Board designated the Adviser as its “valuation designee,” the Board’s audit committee continues to be responsible for overseeing the processes for determining fair valuation.

When market prices are readily available, the Adviser shall value the Fund’s investments at the current market price. Where it is possible to obtain independent third party market quotes for securities, the Adviser will use these quotes to obtain a value for those securities.

The Fund’s investments are expected to include loans and other instruments that do not have readily ascertainable market prices. Assets that are not publicly traded or whose market prices are not readily available are valued at fair value as determined in good faith by the Adviser. The Adviser will determine fair value for those investments through a valuation process that will be conducted at the end of each fiscal quarter by the valuation committees of our Adviser with the assistance of the Adviser’s investment and management personnel, finance and compliance teams, third-party valuation agents, and guidance from outside counsel, and reviewed by the audit committee of our Board.

The Adviser will utilize the following multi-step process each quarter in determining fair value for the Fund’s investments for which market quotations are not readily available:

•

First, the Adviser’s investment professionals responsible for the portfolio investment and other senior members of the Adviser’s investment and management team, with oversight from the Adviser’s finance team, will make initial valuations of each investment;

•

Second, the Adviser’s investment professionals and management team, with oversight by the Adviser’s finance and compliance team, will document the preliminary valuation conclusions and oversee sample testing of valuations with third-party valuation agents;

•

Third, the preliminary valuation conclusions will be presented to the Adviser’s valuation committees as relevant, for consideration;

•

Fourth, the Adviser’s valuation committees will discuss the recommended valuations and determine, in good faith, the fair value of each investment;

•

Fifth, the valuation determinations of the Adviser’s valuation committees will be presented to the Adviser and then shared with the Fund’s chief executive officer and chief financial officer; and

•

Sixth, the Adviser will provide certain quarterly and annual reports to the Board.

Interest Income Recognition

Interest income, adjusted for amortization of premium, acquisition costs, and amendment fees and the accretion of original issue discount (“OID”), are recorded on an accrual basis to the extent that such amounts are expected to be collected. Generally, a loan is placed on non-accrual status when management has reasonable doubt that the borrower will pay principal or interest in full. Management may make an exception when the loan has sufficient collateral value or is in the process of collection. Generally, non-accrual loans are returned to accrual status when all past-due principal and interest have been paid in cash and, in management’s judgment, the borrower is likely to make principal and interest payments in the future. As of June 30, 2026, the Fund had 9 investments across 4 issuers on non-accrual, which represented 4.66% and 2.21% of the Fund's cost and fair market value, respectively. As of December 31, 2025, the Fund had 8 investments across 3 issuers on non-accrual, which represented 4.38% and 3.04% of the Fund's cost and fair market value, respectively.

The Fund may hold loans in the portfolio that contain OID and payment-in-kind (“PIK”) provisions. The Fund recognizes OID for loans originally issued at a discount as income over the life of the obligation based on an effective yield method. PIK interest, computed at the contractual rate specified in a loan agreement, is added to the principal balance of a loan and recorded as income over the life of the obligation. Therefore, the actual collection of PIK income may be deferred until the time of debt principal repayment.

As of June 30, 2026, the Fund held 3 investments that had a PIK interest component. As of December 31, 2025, the Fund held 3 investments that had a PIK interest component. For the three and six months ended June 30, 2026, the Fund accrued PIK income in the amount of $79,282 and $91,536. For the three and six months ended June 30, 2025, the Fund accrued PIK income in the amount of $451,457 and $1,015,825.

As of June 30, 2026 and December 31, 2025, the Fund held $36,759,770 and $35,353,403 cash and cash equivalents. For the three and six months ended June 30, 2026 and 2025, the Fund did not earn interest income related to cash.

Realized gain (loss) and net change in unrealized appreciation (depreciation)

Investment transactions are accounted for on the trade date. Gain or loss on the sale of investments is calculated using the specific identification method. The Fund measures realized gain or loss by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized. Net change in unrealized appreciation or depreciation will reflect the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when a gain or loss is realized.

Foreign Currency

The accounting records of the Fund are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing rates of exchange at year end. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions. The portion of both realized and unrealized gains and losses on investments that results from the fluctuations in foreign currency exchange rates are separately disclosed in the accompanying Consolidated Statements of Operations, when applicable.

Deferred Financing Costs

Deferred financing costs represent fees and other direct incremental costs incurred in connection with borrowings. These amounts are amortized over the contractual term of the Leverage Facility and the Credit Facility as discussed in Note 8 — Commitments and Contingencies.