v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Non-controlled/non-affiliated investments (amortized cost of $129,376 and $121,142, respectively) $ 139,972 [1] $ 123,127 [2],[3],[4],[5],[6]
Cash and cash equivalents 2,553 576
Interest receivable 1,199 1,099
Deferred credit facility costs 679 390
Due from affiliates 3 1,274
Other assets 339 307
Total assets 144,745 126,773
LIABILITIES    
KeyBank Credit Facility 52,600 36,700
2028 Series A Notes, net of $420 and $0, respectively, of unamortized deferred financing costs 24,670 24,575
Management fees payable 599 532
Incentive fees payable 430 153
Contingent incentive fees payable 676 484
Interest payable 1,014 974
Security deposits 227 248
Directors' fees payable 275 0
Accrued expenses and other liabilities 1,688 1,508
Total liabilities 82,179 65,174
Commitments and contingencies (Note 6) 0 0
NET ASSETS    
Common shares of beneficial interest, $0.001 par value, unlimited shares authorized, (6,107,167 and 6,017,855 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively) 0 0
Paid-in capital in excess of par 61,805 60,896
Distributable earnings 761 703
Total net assets 62,566 61,599
Total liabilities and net assets $ 144,745 $ 126,773
NET ASSET VALUE PER SHARE $ 10.24 $ 10.24
[1] Except as noted, all investments were valued at fair value using Level 3 inputs. Fair value is determined in good faith by Eagle Point Credit Management LLC, as the Fund's “valuation designee,” in accordance with Rule 2a-5 under the Investment Company Act of 1940.
[2] Investment date represents the date of initial investment date, either purchases or funding, not adjusted for modifications.
[3] All debt investments are income producing unless otherwise noted. All equity and warrant investments are non-income producing unless otherwise noted. Equipment financed under our equipment financing investments relates to operational equipment essential to revenue production for the portfolio company in the industry noted.
[4] All investments were valued at fair value using Level 3 inputs. Fair value is determined in good faith by Eagle Point Credit Management LLC, as the Fund's “valuation designee,” in accordance with Rule 2a-5 under the Investment Company Act of 1940.
[5] All portfolio companies are located in North America or Europe. As of December 31, 2025, the Fund had three foreign domiciled portfolio companies, two of which are based in Europe and one of which is based in Canada. In total, foreign domiciled portfolio investment represented 13.4% of total net assets based on fair value.
[6] Investment is not pledged as collateral supporting amounts outstanding under the Fund's credit facility with KeyBank, National Association (the “KeyBank Credit Facility”). See “Note 5 – Borrowings” for more information.