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-0.0001 S + 4.50% 2025-07-01 2032-07-01 724000 -6000 -6000 10830000 10883000 0.0345 S + 5.75% 0.0939 2023-12-01 2029-12-03 8788000 8675000 8607000 0.0273 S + 5.75% 2023-12-01 2029-12-03 1408000 -16000 -16000 -0.0001 8659000 8591000 0.0272 S + 5.25% 0.0899 2023-11-01 2027-12-22 8159000 8096000 8078000 0.0256 S + 5.00% 0.0874 2025-03-31 2027-12-22 2395000 1505000 1501000 0.0047 S + 4.75% 2024-05-30 2030-05-30 895000 -9000 -9000 S + 4.75% 0.0860 2024-05-30 2031-05-30 4772000 4718000 4768000 0.0151 S + 4.75% 0.0848 2024-05-30 2031-05-30 1190000 1177000 1189000 0.0038 S + 6.50% 0.1018 2023-10-20 2029-10-20 11408000 11272000 10692000 0.0339 S + 6.50% 0.1016 2023-10-20 2029-10-20 696000 665000 631000 0.0020 S + 5.00% 2024-05-29 2028-05-05 1150000 -5000 -5000 S + 5.00% 0.0864 2024-05-31 2028-08-07 5698000 5667000 5624000 0.0178 S + 5.00% 0.0864 2025-07-16 2028-08-07 1584000 1276000 1264000 0.0040 S + 5.00% 0.0870 2026-03-20 2032-03-19 784000 777000 776000 0.0025 S + 5.00% 0.0870 2025-03-19 2032-03-19 1008000 596000 594000 0.0019 S + 5.00% 0.0870 2025-03-19 2032-03-19 5007000 4964000 4957000 0.0157 S + 5.00% 2025-03-19 2032-03-19 708000 -6000 -6000 S + 6.50% 2023-12-21 2029-12-21 1544000 -23000 -23000 -0.0001 S + 6.50% 0.1014 2023-12-21 2029-12-21 14340000 14106000 14340000 0.0454 54776000 54371000 0.1723 S + 5.00% 0.0873 2024-04-19 2031-04-30 9839000 9691000 9728000 0.0308 S + 5.00% 2024-04-19 2031-04-30 2067000 -29000 -29000 -0.0001 9662000 9699000 0.0307 S + 5.25% 0.0898 2025-04-03 2031-04-30 5865000 5791000 5857000 0.0185 S + 5.25% 2025-04-03 2031-04-30 370000 -4000 -4000 S + 5.25% 2025-04-03 2031-04-30 370000 -5000 -5000 S + 5.25% 0.0898 2025-12-22 2031-04-30 502000 495000 501000 0.0016 6277000 6349000 0.0201 S + 4.50% 0.0824 2026-05-27 2028-09-29 214000 67000 66000 0.0002 S + 4.50% 0.0823 2026-05-27 2028-09-29 45000 45000 45000 0.0001 S + 4.50% 0.0823 2026-05-27 2028-09-29 2390000 2378000 2369000 0.0075 S + 4.50% 0.0823 2026-05-27 2028-09-29 60000 60000 59000 0.0002 2550000 2539000 0.0080 S + 3.50% 2026-03-24 2033-03-24 800000 788000 803000 0.0025 788000 803000 0.0025 S + 5.75% 2025-07-30 2030-07-30 1285000 -16000 -16000 -0.0001 S + 5.75% 0.0939 2025-09-12 2030-07-30 18174000 17942000 17901000 0.0567 S + 4.75% 0.0839 2024-07-09 2031-07-09 10161000 10043000 10058000 0.0319 S + 4.75% 0.0839 2025-08-29 2031-07-09 4161000 4106000 4119000 0.0131 S + 5.00% 0.0873 2025-01-15 2031-01-15 2705000 2678000 2613000 0.0083 S + 5.00% 0.0873 2025-01-15 2031-01-15 1594000 488000 475000 0.0015 S + 5.00% 0.0873 2025-01-15 2031-01-15 479000 91000 89000 0.0003 S + 5.25% 0.0898 2025-01-03 2029-06-15 3842000 3813000 3799000 0.0120 S + 4.75% 0.0823 2026-02-11 2029-06-15 2381000 385000 385000 0.0012 S + 5.25% 0.0899 2025-01-03 2029-06-15 2996000 2975000 2964000 0.0094 42505000 42387000 0.1343 S + 5.75% 0.0938 2024-03-08 2029-03-08 1995000 815000 815000 0.0026 S + 5.75% 0.0938 2024-03-08 2028-12-14 938000 933000 937000 0.0030 S + 5.75% 0.0938 2024-03-08 2028-12-14 11138000 11123000 11118000 0.0352 S + 5.75% 0.0938 2024-11-22 2028-12-14 806000 806000 805000 0.0026 13677000 13675000 0.0434 S + 5.50% 0.0923 2026-04-08 2032-04-08 2499000 2462000 2465000 0.0078 S + 5.50% 2026-04-08 2032-04-08 999000 -14000 -14000 2448000 2451000 0.0078 S + 4.50% 0.0813 2024-08-09 2031-08-11 3352000 3340000 3339000 0.0106 S + 4.50% 0.0813 2024-08-09 2031-08-11 1935000 1920000 1927000 0.0061 S + 4.50% 2024-08-09 2031-08-11 675000 -5000 -5000 S + 4.50% 0.0835 2025-08-07 2031-08-11 12532000 8393000 8433000 0.0267 S + 5.50% 0.0915 2025-08-26 2032-08-26 12358000 12245000 11462000 0.0363 S + 5.50% 0.0912 2025-08-26 2032-08-26 1242000 213000 199000 0.0006 S + 4.75% 0.0841 2025-08-26 2032-08-26 7673000 7593000 7616000 0.0241 S + 4.75% 2025-08-26 2032-08-26 2268000 -20000 -20000 -0.0001 S + 4.75% 2025-08-26 2032-08-26 1089000 -10000 -10000 S + 5.25% 2026-06-26 2029-10-01 1897000 -9000 -9000 S + 5.25% 0.0914 2026-06-26 2029-10-01 5531000 5476000 5476000 0.0174 S + 5.25% 0.0899 2026-06-26 2029-10-01 652000 20000 20000 0.0001 S + 5.25% 0.0889 2026-02-26 2032-02-26 5008000 4946000 4924000 0.0156 S + 5.25% 2026-02-26 2032-02-26 1236000 -15000 -15000 C + 5.00% 0.0762 2024-12-18 2031-02-18 5613000 2867000 2886000 0.0091 S + 5.25% 0.0898 2024-03-19 2031-03-19 7788000 7673000 7707000 0.0244 S + 5.25% 0.0898 2024-03-19 2031-03-19 1149000 980000 984000 0.0031 55607000 54914000 0.1740 S + 4.50% 0.0812 2026-05-06 2031-11-17 600000 207000 214000 0.0007 207000 214000 0.0007 S + 4.75% 0.0842 2024-01-30 2031-01-30 12233000 12183000 12176000 0.0386 S + 4.75% 0.0842 2024-01-30 2031-01-30 978000 219000 207000 0.0007 S + 5.00% 0.0864 2024-05-10 2029-10-01 3207000 3202000 3135000 0.0099 S + 5.00% 0.0864 2024-05-10 2029-10-01 517000 67000 65000 0.0002 S + 5.00% 0.0864 2024-07-09 2029-10-01 7711000 7711000 7537000 0.0239 S + 5.00% 0.0864 2025-07-30 2029-10-01 890000 890000 870000 0.0028 S + 5.00% 0.0867 2024-04-23 2030-08-02 1748000 682000 644000 0.0020 S + 5.00% 0.0867 2024-04-23 2030-08-02 15298000 15216000 14762000 0.0468 S + 5.00% 0.0867 2024-04-23 2030-08-02 2623000 2609000 2531000 0.0080 S + 5.25% 0.0898 2024-03-26 2028-05-25 513000 512000 467000 0.0015 S + 5.25% 0.0898 2024-05-23 2028-05-25 5854000 5854000 5503000 0.0174 S + 5.25% 0.0898 2024-03-26 2028-05-25 250000 249000 235000 0.0007 S + 4.75% 0.0848 2025-08-20 2032-08-20 7871000 7800000 7772000 0.0246 S + 4.75% 0.0848 2025-08-20 2032-08-20 3373000 645000 642000 0.0020 S + 4.75% 2025-08-20 2032-08-20 1124000 -10000 -10000 S + 5.25% 0.0898 2024-10-30 2028-05-02 285000 171000 168000 0.0005 S + 5.25% 0.0898 2024-10-30 2029-05-02 3621000 3624000 3558000 0.0113 S + 5.25% 0.0898 2025-05-19 2029-05-02 2270000 2254000 2231000 0.0071 S + 4.50% 2025-06-27 2031-07-23 3468000 -14000 -14000 S + 4.50% 0.0816 2025-06-27 2031-07-23 2294000 2285000 2275000 0.0072 S + 4.50% 0.0816 2025-06-27 2031-07-23 347000 36000 36000 0.0001 S + 4.50% 0.0816 2025-06-27 2031-07-23 2043000 2034000 2026000 0.0064 S + 4.75% 0.0848 2024-05-23 2028-02-10 10830000 10830000 10627000 0.0337 S + 4.75% 0.0848 2023-12-21 2028-02-10 1272000 330000 316000 0.0010 S + 4.75% 0.0848 2024-05-23 2028-02-10 1365000 1365000 1339000 0.0042 S + 4.75% 0.0848 2024-09-04 2028-02-10 1543000 1543000 1514000 0.0048 C + 5.00% 0.0997 2026-01-08 2031-02-11 1104000 792000 769000 0.0024 S + 4.75% 0.0839 2025-02-11 2031-02-11 539000 30000 30000 0.0001 S + 4.75% 2025-02-11 2031-02-11 788000 -8000 -8000 S + 4.75% 0.0839 2025-02-11 2031-02-11 4182000 4140000 4149000 0.0131 S + 2.38% 0.0602 2026-04-01 2033-04-01 6216000 6171000 6177000 0.0196 S + 2.38% 2026-04-01 2033-04-01 1102000 -8000 -8000 S + 2.38% 2026-04-01 2033-04-01 2646000 -10000 -10000 S + 3.00% 2024-10-30 2031-10-30 2745000 -21000 -21000 -0.0001 S + 3.00% 0.0664 2024-10-30 2031-10-30 15483000 15357000 14862000 0.0471 S + 3.50% 0.0716 2024-02-06 2031-02-03 11175000 11158000 10660000 0.0338 S + 5.50% 0.0916 2024-02-06 2031-02-03 909000 907000 867000 0.0027 S + 2.75% 0.0639 2024-10-01 2031-10-01 616000 154000 154000 0.0005 S + 2.75% 0.0639 2024-10-01 2031-10-01 3003000 2980000 2988000 0.0095 S + 4.75% 0.0839 2024-10-01 2031-10-01 370000 182000 181000 0.0006 S + 4.75% 0.0836 2024-12-19 2028-01-19 4609000 4602000 4583000 0.0145 128713000 125985000 0.3992 S + 4.75% 0.0848 2025-11-21 2030-10-24 4120000 1574000 1562000 0.0050 S + 5.00% 0.0873 2026-06-18 2030-10-24 304000 302000 301000 0.0010 S + 5.00% 0.0873 2026-06-18 2029-10-24 13000 13000 13000 S + 4.50% 0.0824 2026-01-13 2033-01-13 5317000 5292000 5296000 0.0168 P + 3.50% 0.1025 2026-01-13 2033-01-13 760000 414000 415000 0.0013 S + 4.50% 2026-01-13 2033-01-13 1139000 -5000 -5000 S + 4.75% 0.0844 2024-04-09 2030-04-09 21026000 20989000 20709000 0.0656 S + 4.75% 0.0848 2026-03-02 2030-04-01 69000 18000 18000 0.0001 S + 4.75% 0.0848 2026-03-02 2030-04-01 4897000 4886000 4888000 0.0155 S + 4.75% 0.0848 2026-03-02 2030-04-01 965000 962000 963000 0.0031 S + 4.75% 0.0848 2026-03-02 2030-04-01 96000 96000 96000 0.0003 S + 4.75% 0.0848 2026-03-02 2030-04-01 1049000 25000 25000 0.0001 34566000 34281000 0.1088 476050000 471982000 1.4955 S + 6.50% 0.1017 2025-04-29 2030-05-02 12285000 12136000 12285000 0.0388 S + 6.50% 0.1016 2026-03-09 2030-05-02 2289000 2257000 2289000 0.0073 14393000 14574000 0.0461 14393000 14574000 0.0461 490443000 486556000 1.5416 2026-04-08 124929000 125000 125000 0.0004 125000 125000 0.0004 125000 125000 0.0004 0.1250 2024-09-05 1190000 1173000 1190000 0.0038 1173000 1190000 0.0038 1173000 1190000 0.0038 517277000 513631000 1.6274 2025-08-07 7068000 6940000 0.0220 7068000 6940000 0.0220 7068000 6940000 0.0220 7068000 6940000 0.0220 524345000 520571000 1.6494 524345000 520571000 1.6494 0.0383 8209000 8209000 8209000 0.0260 8209000 8209000 0.0260 532554000 528780000 1.6754 Delayed Draw Term Loan 2027-12-22 877000 7000 Delayed Draw Term Loan 2030-10-24 2528000 19000 Revolver 2031-01-30 754000 13000 Revolver 2031-08-11 675000 5000 Delayed Draw Term Loan 2031-08-11 4031000 22000 Revolver 2029-10-01 448000 4000 Revolver 2031-07-28 166000 1000 Delayed Draw Term Loan 2031-07-28 3544000 8000 Revolver 2031-10-13 419000 3000 Delayed Draw Term Loan 2031-10-13 13544000 101000 Delayed Draw Term Loan 2031-10-13 753000 1000 Revolver 2031-04-30 370000 4000 Delayed Draw Term Loan 2031-04-30 371000 5000 Delayed Draw Term Loan 2031-11-17 387000 Revolver 2029-03-08 1177000 2000 Revolver 2032-08-26 1018000 20000 Revolver 2032-08-26 1089000 10000 Delayed Draw Term Loan 2032-08-26 2268000 20000 Revolver 2030-07-30 1286000 16000 Revolver 2030-08-02 1058000 28000 Delayed Draw Term Loan 2031-09-08 879000 7000 Revolver 2029-10-01 626000 6000 Delayed Draw Term Loan 2029-10-01 1897000 9000 Revolver 2028-09-29 146000 1000 Revolver 2029-12-19 468000 7000 Revolver 2032-08-20 1124000 10000 Delayed Draw Term Loan 2032-08-20 2698000 26000 Revolver 2028-05-02 114000 1000 Revolver 2031-07-23 310000 1000 Delayed Draw Term Loan 2031-07-23 3468000 14000 Revolver 2032-02-26 1236000 15000 Revolver 2031-09-04 600000 8000 Revolver 2030-05-30 895000 9000 Revolver 2029-10-16 743000 6000 Delayed Draw Term Loan 2029-10-16 2163000 3000 Revolver 2028-02-10 939000 13000 Revolver 2031-03-26 879000 9000 Delayed Draw Term Loan 2031-03-26 310000 2000 Revolver 2031-02-11 788000 8000 Delayed Draw Term Loan 2031-02-11 503000 5000 Revolver 2033-01-13 342000 1000 Delayed Draw Term Loan 2033-01-13 1139000 5000 Revolver 2031-01-15 383000 6000 Delayed Draw Term Loan 2031-01-15 1091000 19000 Revolver 2033-04-01 1102000 8000 Delayed Draw Term Loan 2033-04-01 2646000 10000 Revolver 2031-10-30 2745000 21000 Revolver 2032-04-19 1047000 12000 Delayed Draw Term Loan 2032-04-19 488000 6000 Delayed Draw Term Loan 2031-02-18 1021000 310000 Revolver 2029-10-20 22000 1000 Revolver 2031-01-31 2823000 11000 Revolver 2028-05-05 1150000 5000 Delayed Draw Term Loan 2028-08-07 302000 3000 Revolver 2030-05-10 219000 2000 Revolver 2033-05-02 932000 9000 Delayed Draw Term Loan 2033-05-02 1865000 9000 Revolver 2030-04-01 51000 1000 Delayed Draw Term Loan 2030-04-01 1019000 5000 Revolver 2032-03-19 708000 6000 Delayed Draw Term Loan 2032-03-19 405000 4000 Delayed Draw Term Loan 2029-06-15 3000 Delayed Draw Term Loan 2029-06-15 1991000 4000 Revolver 2030-12-05 224000 2000 Revolver 2031-03-19 153000 2000 Term Loan 2031-04-30 2067000 29000 Revolver 2029-12-21 1544000 23000 Delayed Draw Term Loan 2032-04-08 999000 14000 Revolver 2031-10-01 185000 2000 Delayed Draw Term Loan 2031-10-01 458000 3000 Revolver 2032-06-25 573000 5000 Delayed Draw Term Loan 2032-06-25 5721000 49000 Revolver 2032-07-01 724000 6000 Delayed Draw Term Loan 2032-07-01 1932000 17000 Revolver 2029-12-03 1408000 16000 97031000 1074000 S + 0.99% 0.0487 2025-12-19 2035-01-17 5000000 5005000 5049000 0.0184 S + 1.04% 0.0492 2025-12-19 2035-01-20 5000000 5003000 4998000 0.0182 10008000 10047000 0.0366 10008000 10047000 0.0366 S + 5.25% 0.0892 2023-12-19 2029-12-19 540000 521000 522000 0.0019 S + 5.25% 0.0892 2023-12-19 2029-12-19 3054000 3012000 3018000 0.0110 S + 5.25% 0.0892 2023-12-19 2029-12-19 636000 628000 629000 0.0023 S + 5.25% 2023-12-19 2029-12-19 649000 -9000 -9000 4152000 4160000 0.0152 S + 5.25% 0.0897 2025-09-04 2031-09-04 10258000 10111000 10053000 0.0366 P + 4.25% 0.1100 2025-09-03 2031-09-04 811000 97000 92000 0.0003 10208000 10145000 0.0369 S + 4.50% 0.0817 2025-12-19 2031-07-28 319000 49000 50000 0.0002 S + 4.50% 2025-12-19 2031-07-28 3544000 -9000 -9000 S + 4.75% 0.0842 2024-10-15 2031-01-31 17848000 17663000 17686000 0.0643 S + 4.75% 2024-10-15 2031-01-31 2823000 -13000 -13000 S + 5.00% 0.0872 2024-12-05 2030-12-05 5990000 5939000 5978000 0.0217 S + 5.00% 2024-12-05 2030-12-05 224000 -2000 -2000 23627000 23690000 0.0862 S + 4.75% 0.0842 2024-10-11 2031-10-13 3874000 1875000 1879000 0.0068 S + 4.75% 0.0842 2024-10-11 2031-10-13 2233000 2214000 2229000 0.0081 S + 4.75% 2024-10-11 2031-10-13 465000 -4000 -4000 S + 4.75% 0.0847 2025-05-12 2030-05-10 10470000 10377000 10426000 0.0379 S + 4.75% 0.0842 2025-05-12 2030-05-10 284000 123000 123000 0.0004 S + 5.00% 2025-06-25 2032-06-25 675000 -6000 -6000 S + 5.00% 0.0886 2025-06-25 2032-06-25 6745000 657000 662000 0.0024 15236000 15309000 0.0556 S + 5.50% 0.0917 2024-03-26 2031-03-26 785000 477000 480000 0.0017 S + 5.50% 0.0923 2024-03-26 2031-03-26 879000 122000 123000 0.0004 S + 5.50% 0.0917 2024-03-26 2031-03-26 2002000 1978000 1992000 0.0072 2577000 2595000 0.0093 S + 5.50% 0.0932 2024-07-31 2027-06-16 3205000 3187000 3205000 0.0117 S + 6.00% 0.0982 2025-07-01 2027-06-16 2769000 1796000 1796000 0.0065 S + 4.75% 0.0863 2025-04-17 2032-04-19 6553000 6478000 6518000 0.0237 S + 4.75% 0.0869 2025-04-17 2032-04-19 598000 103000 103000 0.0004 S + 4.75% 2025-04-17 2032-04-19 1296000 -15000 -15000 -0.0001 11549000 11607000 0.0422 S + 4.75% 0.0842 2023-12-22 2029-07-20 6584000 6492000 6577000 0.0239 S + 4.75% 0.0842 2023-12-22 2029-07-20 7714000 7610000 7705000 0.0281 14102000 14282000 0.0520 S + 4.75% 0.0874 2023-10-19 2029-10-16 1064000 1059000 1060000 0.0039 S + 4.75% 0.0869 2023-10-19 2029-10-16 4517000 4473000 4499000 0.0164 S + 4.75% 0.0854 2023-10-19 2029-10-16 743000 141000 143000 0.0005 S + 4.75% 0.0859 2025-06-23 2029-10-16 2765000 339000 343000 0.0013 S + 5.00% 0.0876 2025-10-01 2028-04-11 857000 849000 856000 0.0031 S + 5.00% 0.0867 2025-09-30 2028-04-11 514000 510000 514000 0.0019 S + 5.00% 0.0867 2025-12-08 2028-04-11 968000 959000 968000 0.0035 S + 5.00% 0.0874 2025-12-08 2028-04-11 644000 633000 644000 0.0023 S + 5.00% 2025-04-11 2028-04-11 859000 -7000 -7000 S + 5.00% 0.0867 2025-04-11 2028-04-11 10622000 10539000 10620000 0.0386 19495000 19640000 0.0715 S + 4.50% 2024-09-05 2031-09-08 879000 -7000 -7000 S + 4.50% 0.0825 2024-09-05 2031-09-08 5187000 5142000 5148000 0.0187 S + 4.75% 0.0842 2025-07-01 2032-07-01 5796000 5741000 5778000 0.0210 S + 4.75% 2025-07-01 2032-07-01 1932000 -18000 -18000 -0.0001 S + 4.75% 2025-07-01 2032-07-01 724000 -7000 -7000 10851000 10894000 0.0396 S + 5.75% 0.0949 2023-12-01 2029-12-03 8833000 8706000 8618000 0.0314 S + 5.75% 2023-12-01 2029-12-03 1408000 -18000 -18000 -0.0001 8688000 8600000 0.0313 S + 5.25% 0.0907 2023-11-01 2027-12-22 8200000 8117000 8143000 0.0296 S + 5.00% 0.0882 2025-03-31 2027-12-22 2399000 669000 668000 0.0024 S + 4.75% 2024-05-30 2030-05-30 895000 -10000 -10000 S + 4.75% 0.0862 2024-05-30 2031-05-30 5369000 5303000 5348000 0.0195 S + 4.75% 2024-05-30 2031-05-30 1193000 -14000 -14000 -0.0001 S + 6.50% 0.1038 2023-10-20 2029-10-20 11466000 11313000 10950000 0.0398 S + 6.50% 0.1034 2023-10-20 2029-10-20 670000 638000 618000 0.0022 S + 5.00% 0.0873 2024-05-29 2028-05-05 1150000 108000 107000 0.0004 S + 5.00% 0.0872 2024-05-31 2028-08-07 5727000 5689000 5658000 0.0206 S + 5.00% 0.0872 2025-07-16 2028-08-07 1588000 737000 732000 0.0027 S + 5.00% 0.0869 2025-03-19 2032-03-19 5045000 4999000 5045000 0.0184 S + 5.00% 2025-03-19 2032-03-19 1011000 -9000 -9000 S + 5.00% 2025-03-19 2032-03-19 708000 -6000 -6000 S + 6.50% 2023-12-21 2029-12-21 1544000 -26000 -26000 -0.0001 S + 6.50% 0.1011 2023-12-21 2029-12-21 14413000 14150000 14413000 0.0524 51658000 51617000 0.1878 S + 5.00% 0.0873 2024-04-19 2031-04-30 9839000 9679000 9831000 0.0358 S + 5.00% 2024-04-19 2031-04-30 2067000 -32000 -32000 -0.0001 9647000 9799000 0.0357 S + 5.25% 0.0892 2025-12-22 2031-04-30 505000 497000 503000 0.0018 S + 5.25% 0.0892 2025-04-03 2031-04-30 5895000 5814000 5879000 0.0214 S + 5.25% 2025-04-03 2031-04-30 370000 -5000 -5000 S + 5.25% 2025-04-03 2031-04-30 370000 -5000 -5000 6301000 6372000 0.0232 S + 5.75% 2025-07-30 2030-07-10 1285000 -18000 -18000 -0.0001 S + 5.75% 0.0947 2025-09-12 2030-07-10 18266000 18011000 18337000 0.0667 S + 5.25% 0.0892 2024-07-09 2031-07-09 10208000 10080000 10201000 0.0371 S + 5.25% 0.0892 2025-08-29 2031-07-09 4296000 4234000 4293000 0.0156 S + 4.75% 0.0842 2025-01-15 2031-01-15 2712000 2682000 2712000 0.0099 S + 4.75% 0.0842 2025-01-15 2031-01-15 1595000 487000 493000 0.0018 S + 4.75% 0.0844 2025-01-15 2031-01-15 479000 59000 59000 0.0002 S + 5.25% 0.0893 2025-01-03 2029-06-15 3853000 3117000 3146000 0.0115 S + 5.25% 0.0893 2025-01-03 2029-06-15 3004000 2979000 3008000 0.0110 41631000 42231000 0.1537 S + 5.75% 0.0995 2024-03-08 2029-03-08 1995000 396000 395000 0.0014 S + 5.75% 0.0995 2024-03-08 2028-12-14 943000 936000 939000 0.0034 S + 5.75% 0.0995 2024-03-08 2028-12-14 11195000 11174000 11150000 0.0406 S + 5.75% 0.0995 2024-11-22 2028-12-14 810000 810000 807000 0.0030 13316000 13291000 0.0484 S + 4.50% 0.0854 2024-08-09 2031-08-11 3361000 3246000 3259000 0.0119 S + 4.50% 0.0854 2024-08-09 2031-08-11 1945000 1928000 1945000 0.0071 S + 4.50% 2024-08-09 2031-08-11 675000 -5000 -5000 S + 4.50% 0.0812 2025-08-07 2031-08-11 12551000 4942000 4990000 0.0182 S + 5.50% 0.0923 2025-08-26 2032-08-26 12420000 12300000 12591000 0.0458 S + 5.50% 2025-08-26 2032-08-26 1242000 -12000 -12000 S + 4.75% 0.0859 2025-08-26 2032-08-26 7711000 7626000 7685000 0.0280 S + 4.75% 2025-08-26 2032-08-26 2268000 -22000 -22000 -0.0001 S + 4.75% 2025-08-26 2032-08-26 1089000 -10000 -10000 C + 5.00% 0.0758 2024-12-18 2028-02-18 5633000 2278000 2465000 0.0090 S + 5.25% 0.0885 2024-03-19 2031-03-19 7828000 7703000 7786000 0.0283 S + 5.25% 0.0892 2024-03-19 2031-03-19 1149000 251000 253000 0.0009 40225000 40925000 0.1491 S + 4.75% 0.0857 2024-01-30 2031-01-30 12295000 12239000 12295000 0.0447 S + 4.75% 0.0847 2024-01-30 2031-01-30 978000 274000 269000 0.0010 S + 5.00% 0.0872 2024-05-10 2029-10-01 3207000 3201000 3199000 0.0116 S + 5.00% 0.0872 2024-05-10 2029-10-01 517000 67000 65000 0.0002 S + 5.00% 2024-05-10 2029-10-01 714000 -1000 -1000 S + 5.00% 0.0872 2024-07-09 2029-10-01 7711000 7711000 7672000 0.0279 S + 5.00% 0.0872 2025-07-30 2029-10-01 890000 890000 886000 0.0032 S + 5.00% 2024-04-23 2030-08-02 2623000 -14000 -15000 -0.0001 S + 5.00% 0.0870 2024-04-23 2030-08-02 1748000 401000 391000 0.0014 S + 5.00% 0.0882 2024-04-23 2030-08-02 15298000 15208000 15222000 0.0554 S + 5.00% 0.0882 2024-04-23 2030-08-02 2623000 2607000 2603000 0.0095 S + 5.25% 0.0892 2024-05-23 2028-05-25 5885000 5885000 5738000 0.0209 S + 5.25% 0.0892 2024-03-26 2028-05-25 675000 250000 248000 0.0009 S + 5.25% 0.0892 2024-03-26 2028-05-25 513000 189000 184000 0.0007 S + 4.75% 0.0842 2025-08-20 2032-08-20 7871000 7795000 7795000 0.0284 S + 4.75% 2025-08-20 2032-08-20 3373000 -32000 -32000 -0.0001 S + 4.75% 2025-08-20 2032-08-20 1124000 -11000 -11000 S + 5.25% 0.0892 2024-10-30 2028-05-02 285000 186000 183000 0.0007 S + 2.63% 0.0630 2024-10-30 2029-05-02 3564000 3567000 3524000 0.0128 S + 2.63% 0.0630 2025-05-19 2029-05-02 2241000 2222000 2216000 0.0081 S + 4.50% 2025-06-27 2031-07-23 3468000 -16000 -16000 -0.0001 S + 4.50% 2025-06-27 2031-07-23 2300000 -11000 -11000 S + 4.50% 2025-06-27 2031-07-23 347000 -2000 -2000 S + 4.50% 2025-06-27 2031-07-23 2048000 -9000 -9000 S + 4.75% 0.0842 2024-05-23 2028-02-10 10888000 10888000 10888000 0.0396 S + 4.75% 0.0844 2023-12-21 2028-02-10 1332000 262000 256000 0.0009 S + 4.75% 0.0842 2024-05-23 2028-02-10 1372000 1372000 1372000 0.0050 S + 4.75% 0.0842 2024-09-04 2028-02-10 1551000 1551000 1551000 0.0056 S + 5.00% 0.0884 2025-02-11 2031-02-11 1342000 21000 21000 0.0001 S + 5.00% 2025-02-11 2031-02-11 788000 -8000 -8000 S + 5.00% 0.0884 2025-02-11 2031-02-11 4203000 4157000 4179000 0.0152 S + 5.00% 2024-10-30 2031-10-30 2745000 -23000 -23000 -0.0001 S + 5.00% 0.0872 2024-10-30 2031-10-30 15495000 15330000 15426000 0.0560 S + 5.50% 0.0934 2024-02-06 2031-02-03 11231000 11213000 11085000 0.0403 S + 5.50% 0.0934 2024-02-06 2031-02-03 909000 664000 658000 0.0024 S + 2.50% 0.0622 2024-10-01 2031-10-01 617000 125000 121000 0.0004 S + 2.50% 0.0622 2024-10-01 2031-10-01 2984000 2959000 2863000 0.0104 S + 4.50% 2024-10-01 2031-10-01 370000 -3000 -3000 S + 4.75% 0.0857 2024-12-27 2028-01-19 4609000 4601000 4590000 0.0167 115705000 115369000 0.4196 S + 4.75% 2025-11-21 2030-10-24 4120000 -20000 -20000 -0.0001 S + 5.00% 2024-04-09 2030-04-09 1162000 -2000 -2000 S + 3.25% 0.0692 2024-04-09 2030-04-09 20934000 20894000 20881000 0.0760 20872000 20859000 0.0759 419840000 421385000 1.5332 S + 6.50% 0.1023 2025-04-29 2030-05-02 12285000 12120000 12182000 0.0443 12120000 12182000 0.0443 12120000 12182000 0.0443 431960000 433567000 1.5775 0.1300 2025-10-10 5675000 5675000 5745000 0.0209 5675000 5745000 0.0209 0.1250 2024-09-05 1623000 1595000 1623000 0.0059 1595000 1623000 0.0059 7270000 7368000 0.0268 7270000 7368000 0.0268 449238000 450982000 1.6409 2025-08-07 7399000 7364000 0.0268 7399000 7364000 0.0268 7399000 7364000 0.0268 7399000 7364000 0.0268 7399000 7364000 0.0268 456637000 458346000 1.6677 456637000 458346000 1.6677 0.0416 65588000 65588000 65588000 0.2386 65588000 65588000 0.2386 522225000 523934000 1.9063 Delayed Draw Term Loan 2027-12-22 1713000 13000 Delayed Draw Term Loan 2030-10-24 4120000 20000 Revolver 2031-01-30 699000 7000 Delayed Draw Term Loan 2031-08-11 7491000 42000 Delayed Draw Term Loan 2031-08-11 101000 Revolver 2031-08-11 675000 5000 Delayed Draw Term Loan 2029-10-01 714000 1000 Revolver 2029-10-01 449000 3000 Delayed Draw Term Loan 2031-07-28 3544000 9000 Revolver 2031-07-28 268000 1000 Delayed Draw Term Loan 2027-06-16 973000 Delayed Draw Term Loan 2031-10-13 1982000 6000 Revolver 2031-10-13 466000 4000 Delayed Draw Term Loan 2031-04-30 370000 5000 Revolver 2031-04-30 370000 5000 Revolver 2029-03-08 1596000 3000 Revolver 2032-08-26 1242000 12000 Delayed Draw Term Loan 2032-08-26 2268000 21000 Revolver 2032-08-26 1089000 10000 Revolver 2030-07-10 1285000 18000 Delayed Draw Term Loan 2030-08-02 2623000 14000 Revolver 2030-08-02 1338000 15000 Delayed Draw Term Loan 2031-09-08 879000 7000 Delayed Draw Term Loan 2028-05-25 424000 2000 Revolver 2028-05-25 323000 4000 Revolver 2029-12-19 649000 9000 Delayed Draw Term Loan 2032-08-20 3373000 32000 Revolver 2032-08-20 1124000 11000 Revolver 2028-05-02 100000 1000 Delayed Draw Term Loan 2031-07-23 2048000 9000 Delayed Draw Term Loan 2031-07-23 2300000 11000 Delayed Draw Term Loan 2031-07-23 3468000 16000 Revolver 2031-07-23 347000 2000 Revolver 2031-09-04 713000 4000 Delayed Draw Term Loan 2031-05-30 1193000 14000 Revolver 2030-05-30 895000 10000 Delayed Draw Term Loan 2029-10-16 2415000 366000 Revolver 2029-10-16 595000 5000 Revolver 2028-02-10 1065000 9000 Delayed Draw Term Loan 2031-03-26 299000 2000 Revolver 2031-03-26 747000 8000 Delayed Draw Term Loan 2031-02-11 1307000 14000 Revolver 2031-02-11 788000 8000 Delayed Draw Term Loan 2031-01-15 1091000 8000 Revolver 2031-01-15 415000 4000 Revolver 2031-10-30 2745000 23000 Delayed Draw Term Loan 2032-04-19 488000 5000 Revolver 2032-04-19 1296000 15000 Revolver 2031-02-03 242000 2000 Delayed Draw Term Loan 2028-02-18 1628000 445000 Revolver 2029-10-20 22000 1000 Revolver 2031-01-31 2823000 13000 Delayed Draw Term Loan 2028-08-07 843000 7000 Revolver 2028-05-05 1035000 7000 Revolver 2030-05-10 159000 1000 Delayed Draw Term Loan 2030-04-09 1162000 2000 Delayed Draw Term Loan 2032-03-19 1012000 9000 Revolver 2032-03-19 708000 6000 Delayed Draw Term Loan 2029-06-15 706000 Revolver 2030-12-05 224000 2000 Revolver 2031-03-19 881000 11000 Delayed Draw Term Loan 2031-04-30 2067000 32000 Revolver 2029-12-21 1544000 26000 Revolver 2028-04-11 859000 7000 Delayed Draw Term Loan 2031-10-01 487000 7000 Revolver 2031-10-01 370000 3000 Delayed Draw Term Loan 2032-06-25 6025000 52000 Revolver 2032-06-25 675000 6000 Delayed Draw Term Loan 2032-07-01 1932000 18000 Revolver 2032-07-01 725000 7000 Revolver 2029-12-03 1408000 19000 94000000 1496000 <p id="xdx_808_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_z5kIZIYhmx6g" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 1. <span id="xdx_823_z6G9YCAlIiMf">Organization</span> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Partners Group Lending Fund, LLC, was initially formed on June 16, 2022 as a Delaware corporation and subsequently converted into a Delaware limited liability company on July 12, 2023. Partners Group Lending Fund, LLC consists of Partners Group Lending Fund, LLC and its wholly-owned subsidiaries: Partners Group BDC Finance I, LLC, Partners Group BDC Finance II, LLC and Partners Group Revolver Pooling BDC, LLC (collectively, the "Fund"). The Fund commenced operations on September 1, 2023 (commencement of operations) and its fiscal year ends on December 31.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund is an externally managed, non-diversified, closed-end management investment company that elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, the Fund has elected to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”).</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to an investment advisory agreement between the Fund and the Adviser (the "Investment Advisory Agreement"), the Fund is managed by Partners Group (USA) Inc. (the "Adviser"). The Adviser is registered as an investment adviser with the U.S. Securities and Exchange Commission (the "SEC") under the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). The Board of Managers of the Fund (collectively, the “Board” and each member thereof a “Manager”) has oversight responsibility for the management and supervision of the business operations of the Fund. As permitted by applicable law, the Board may delegate any of its rights, powers and authority to, among others, the officers of the Fund, a committee of the Board, or the Adviser, as it did in causing the Fund to enter into the Investment Advisory Agreement.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The investment objective of the Fund is to generate attractive risk-adjusted returns and current income by primarily investing in a geographically and industrially well-balanced and broadly distributed portfolio of primarily senior secured loans, which will typically pay interest composed of SOFR, plus a margin, of private middle market U.S. companies.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund currently offers two classes of Units designated as “Class I Units” and “Class M Units”. In the future, the Fund may offer additional classes of Units. The Class I Units and Class M Units have, and each additional class of Units issued by the Fund, if any, will have different characteristics, particularly regarding the sales charges that purchasers of Units of such class may bear, and the distribution and service fees, if any, and other class specific expenses, if any, that are charged to holders of Units of such class. The Fund has received an exemptive order from the SEC with respect to the Fund’s multi-class structure.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although Units of each class represent pro rata interests in the Fund, each class votes separately on class-specific matters. Realized and unrealized gains and losses and net investment income and losses, other than class-specific expenses, are allocated daily to each class of Units based on the relative net assets of each class to the total net assets of the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_80A_eus-gaap--SignificantAccountingPoliciesTextBlock_zaMMJvnL4qC3" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 2. <span id="xdx_826_zyGLJ3kcvgd9">Significant Accounting Policies </span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_846_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zDFF26BDqSQ1" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_860_zZXsuj594Og3">Basis of Presentation</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification (“ASC”) Topic 946, Financial Services – <i>Investment Companies</i> ("ASC 946")<i>. </i>The books and records of the Fund are maintained in U.S. Dollars.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p id="xdx_84E_eus-gaap--ConsolidationPolicyTextBlock_zYn69wpOte9h" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_864_zIm2WvLoBPc5">Consolidation</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As provided under ASC 946, the Fund does 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.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund consolidated the results of its wholly-owned subsidiaries: Partners Group BDC Finance I, LLC, Partners Group BDC Finance II, LLC and Partners Group Revolver Pooling BDC, LLC. All intercompany balances and transactions have been eliminated in consolidation.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_840_eus-gaap--UseOfEstimates_zF5jKtXbZffc" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_861_zk83GYYssKv6">Use of Estimates</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of gain and loss contingencies at the date of the consolidated financial statements. Such amounts could differ from those estimates and such differences could be material. Assumptions and estimates regarding the valuation of investments involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. Actual results may ultimately differ from those estimates.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p id="xdx_84C_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_znqaZdhYRGX4" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_867_zFWHuFLSs5n1">Cash and Cash Equivalents </span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents consist of demand deposits and highly liquid investments, such as money market funds, with original maturities of three months or less. Cash and cash equivalents are carried at cost, which approximates fair value. The Fund deposits its cash and cash equivalents with financial institutions and, at times, may exceed the Federal Deposit Insurance Corporation insured limit.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The fair value of the Cash Equivalents is measured under Level 1 under ASC 820-10.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84C_ecustom--InvestmentsRelatedTransactionsRevenueRecognitionAndExpensesPolicyTextBlock_zZ0EErusavWe" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_86A_zjwQWSzMN9t3">Investment Related Transactions, Revenue Recognition and Expenses</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund invests primarily in private illiquid debt, loans and other assets for which no (or only a limited) liquid market exists or that are subject to legal or other restrictions on transfer and are difficult to sell in a secondary market. These securities are exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities”. Investment transactions in restricted securities are recorded on a trade-date basis. Restricted securities are valued in accordance with the investment valuation policies discussed below.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investment transactions are recorded on a trade-date basis. Realized gains (losses) on investments sold are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the cost basis of the investment using the specific identification method. <span style="background-color: white">Unrealized appreciation or depreciation reflects the difference between the fair value of the investments and the cost basis of the investments. </span>Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations of premiums. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the general course of its business, the Fund receives certain fees from portfolio companies, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as other income in investment income when earned.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK interest is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK interest is recorded as interest income.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Expenses are recorded on an accrual basis.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_846_ecustom--NonaccrualInvestmentsPolicyTextBlock_z1n0f5IUVSmh" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_86C_z3yExWrz0Lz">Non-Accrual Investments</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Loans or debt securities are placed on non-accrual status when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest are paid and, in management’s judgment, principal and interest payments are likely to remain current. The Fund may make exceptions to this treatment if a loan has sufficient collateral value and is in the process of collection. As of June 30, 2026, and December 31, 2025, there were no loans placed on non-accrual status.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_841_eus-gaap--InvestmentPolicyTextBlock_zgVElCPbz7X9" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_863_zuRKM7DrHTBb">Valuation of Investments</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0F0F0F">The Fund is required to report its investments, including those for which current market values are not readily available, at fair value. Investments held by the Fund include senior secured debt, common equity, preferred equity, and asset-backed securities (collectively, "Direct Investments”) and partnership investments ("Partnership Investments").</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0F0F0F">The Fund’s investments are measured at fair value in accordance with ASC 820, Fair Value Measurement (“ASC 820”), which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date, and Rule 2a-5 under the 1940 Act (“Rule 2a-5”). Pursuant to Rule 2a-5, the Board designated the Adviser as "valuation designee" to perform fair value determinations and approved amended Valuation Procedures.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is based on observable market prices or parameters or derived from such prices or parameters when such quotations are readily available. In accordance with Rule 2a-5, a market quotation is “readily available” only when it is a quoted price (unadjusted) in active markets for identical instruments that a fund can access at the measurement date, provided that such a quotation is not considered to be readily available if it is not reliable.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Adviser, as “valuation designee” under Rule 2a-5, determines the fair value of the Fund’s investments in conformity with U.S. GAAP, Rule 2a-5, and the Fund’s Valuation Procedures. As permitted by the Valuation Procedures, the Adviser values the Fund's non-traded Investments in consultation with persons who are employees of the Adviser's parent company or one of its subsidiaries. The Valuation Procedures require evaluation of all relevant factors reasonably available to the Adviser and its affiliates at the time the Fund’s non-traded Investments are valued.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p id="xdx_84B_ecustom--DirectInvestmentsPolicyTextBlock_zlJSQgne7zo5" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_86B_zJCkw0B8MVTj">Direct Investments</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In assessing the fair value of the Fund’s non-traded senior secured debt and preferred equity investments in accordance with the Valuation Procedures, the Adviser uses a variety of methods such as earnings multiples, discounted cash flow and market data from third party pricing services. The Adviser makes valuation assumptions based on market conditions existing at the end of each reporting period. Quoted market prices or dealer quotes for certain similar instruments are used for debt investments where appropriate. Other techniques, such as option pricing models and estimated discounted value of future cash flows, are used to determine fair value for the remaining financial instruments. The fair values of asset-backed securities are determined by price quotations from unaffiliated market makers, financial institutions that regularly trade similar investments or independent valuation agents using industry standard valuation models.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of the inherent uncertainty of estimates, fair value determinations based on estimates may differ from the values that would have been used had a ready market for the securities existed, and the differences could be material.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_844_ecustom--PartnershipInvestmentsPolicyTextBlock_zAuHEq7Yn3V7" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_865_zZji6CAz8wT7">Partnership Investments</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair values of partnership investments determined by the Adviser in accordance with the Valuation Procedures are estimates. These estimates are net of management and performance incentive fees or allocations payable pursuant to the respective organizational documents of the partnership investments. Ordinarily, the fair value of a partnership investment is based on the net asset value of that partnership reported by its investment manager. If the Adviser determines that the most recent net asset value reported by the investment manager of a partnership investment does not represent fair value or if the manager of a partnership investment fails to report a net asset value to the Fund, a fair value determination is made by the Adviser in accordance with the Valuation Procedures. In making that determination, the Adviser will consider whether it is appropriate, considering all relevant circumstances, to value such partnership investment at the net asset value last reported by its investment manager, or whether to adjust such value by a premium or discount.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of the inherent uncertainty of estimates, fair value determinations based on estimates may differ from the values that would have been used had a ready market for the securities existed, and the differences could be material. For each of the Fund’s partnership investment(s) (for the purposes of this paragraph, an “Investee”), the Fund has no right to cause the Investee or any third party to purchase the Fund’s investment in the Investee, at the end of the term of such investment, or any other time. Accordingly, in a typical partnership investment, the Fund expects to realize the value remaining in its investment at the end of the investment’s term through distributions resulting from the liquidation of the remaining assets of the Investee.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Valuation Procedures are implemented by the Adviser and State Street Bank and Trust Company, as the Fund’s administrator (the “Administrator”). Both the Adviser and the Administrator are subject to the oversight of, and report to, the Board. The Adviser and the Administrator monitor and review the methodologies of the various third-party pricing services that are employed by the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Adviser and certain of its affiliates act as investment advisers to clients other than the Fund. However, the valuation attributed to a non-traded Investment held by the Fund and to the same non-traded Investment held by another client, one of the Adviser's affiliates, or by a client of one of its affiliates might differ due to differences in accounting, regulatory or other factors applicable to the Fund, to such other client or the Adviser's affiliate.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 820 prioritizes the use of observable market prices derived from such prices over entity-specific inputs. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund applies ASC 820, which establishes a framework for measuring fair value in accordance with U.S. GAAP and required disclosures of fair value measurements. The Fund discloses the fair value of its investments in a hierarchy which prioritizes and ranks the level of market observability used in the determination of fair value. In accordance with ASC 820, these levels are summarized below:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td>Level 1 — Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities at the measurement date.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td>Level 2 — Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td>Level 3 — Valuations based on inputs that are unobservable and significant to the fair value measurement.</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial instrument’s level within the hierarchy is based on the lowest level of any input that is significant to the fair value measurement.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transfers between levels, if any, are recognized at the beginning of the reporting period in which the transfers occur. The Fund evaluates the source of inputs used in the determination of fair value, including any markets in which the investments, or similar investments, are trading. When the fair value of an investment is determined using inputs from a pricing service (or principal market makers), the Fund considers various criteria in determining whether the investment should be classified as a Level 2 or Level 3 investment. Criteria considered includes the pricing methodologies of the pricing services (or principal market makers) to determine if the inputs to the valuation are observable or unobservable, as well as the number of prices obtained and an assessment of the quality of the prices obtained. However, the determination of what constitutes “observable” requires significant judgment.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value assigned to these investments is based upon available information and may fluctuate from period to period. In addition, it does not necessarily represent the amount that might ultimately be realized upon sale.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Valuation Designee generally uses the income approach to determine fair value for loans where market quotations are not readily available, as long as it is appropriate. If there is deterioration in credit quality or a debt investment is in workout status, the Valuation Designee may consider other factors in determining the fair value, including the value attributable to the debt investment from the enterprise value of the portfolio company or the proceeds that would be received in a liquidation analysis. This liquidation analysis may also include probability weighting of alternative outcomes. The Valuation Designee generally considers our debt to be performing if the borrower is not in default, the borrower is remitting payments in a timely manner, the loan is in covenant compliance and the loan is otherwise not deemed to be impaired. In determining the fair value of the performing debt, the Valuation Designee considers fluctuations in current interest rates, the trends in yields of debt instruments with similar credit ratings, financial condition of the borrower, economic conditions and other relevant factors, both qualitative and quantitative. In the event that a debt instrument is not performing, as defined above, the Valuation Designee will evaluate the value of the collateral utilizing the same framework described above for a performing loan to determine the value of the debt instrument.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the income approach, discounted cash flow models are utilized to determine the present value of the future cash flow streams of our debt investments, based on future interest and principal payments as set forth in the associated loan agreements. In determining fair value under the income approach, the Valuation Designee also considers the following factors: applicable market yields and leverage levels, recent transactions, credit quality, prepayment penalties, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, and changes in the interest rate environment and the credit markets that generally may affect the price at which similar investments may be made.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the market approach, the enterprise value methodology is typically utilized to determine the fair value of an investment. There is no one methodology to estimate enterprise value and, in fact, for any one portfolio company, enterprise value is generally best expressed as a range of values, from which the Valuation Designee derives a single estimate of enterprise value. In estimating the enterprise value of a portfolio company, the Valuation Designee analyzes various factors consistent with industry practice, including but not limited to original transaction multiples, the portfolio company’s historical and projected financial results, applicable market trading and transaction comparables, applicable market yields and leverage levels, the nature and realizable value of any collateral, the markets in which the portfolio company does business, and comparisons of financial ratios of peer companies that are public. Typically, the enterprise values of private companies are based on multiples of earnings before interest, income taxes, depreciation and amortization (“EBITDA”), cash flows, net income, revenues, or in limited cases, book value.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_847_ecustom--ReceivablespayablesFromInvestmentsSoldpurchasedPolicyTextBlock_z5CQtCqEFrK8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_861_zwlpZN6gdA9e">Receivables/Payables From Investments Sold/Purchased</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Receivables/payables from investments sold/purchased consist of amounts receivable to or payable by the Fund for transactions that have not settled at the reporting date. As of June 30, 2026, and December 31, 2025, the Fund had $<span id="xdx_908_eus-gaap--LongTermInvestmentsAndReceivablesNet_c20260630_pn3n3" title="Receivables for investments sold">104</span> thousand and $<span id="xdx_90B_eus-gaap--LongTermInvestmentsAndReceivablesNet_c20251231_pn3n3" title="Receivables for investments sold">112</span> thousand of receivables for investments sold respectively. As of June 30, 2026, and December 31, 2025, the Fund had $<span id="xdx_903_eus-gaap--PayableInvestmentPurchase_iI_pn3n3_c20260630_zp2o2oOrymJ" title="Payable for investments purchased">1,146</span> thousand and $<span id="xdx_902_eus-gaap--PayableInvestmentPurchase_iI_pn3n3_c20251231_zd6Tw9yqZLz" title="Payable for investments purchased">0</span> of payables for investments purchased respectively.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84B_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zT65LQMT5da5" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_869_z8Myh3DhaeR9">Foreign Currency Transactions</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amounts denominated in foreign currencies are translated into U.S. dollars on the following basis: (i) investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates effective on the last business day of the period; and (ii) purchases and sales of investments, borrowings and repayments of such borrowings, income, and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates prevailing on the transaction dates.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The Fund includes net changes in fair values on investments held resulting from foreign exchange rate fluctuations in foreign currency and other transactions, if any, in the Consolidated Statements of Operations.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices more volatile than those of comparable U.S. companies or U.S. government securities.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84C_ecustom--OrganizationExpensesPolicyTextBlock_zVYiBGHNAr41" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_863_zF4BDVbKOxaa">Organization Expenses</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Costs associated with the organization of the Fund are expensed as incurred. These expenses consist primarily of legal fees and other costs of organizing the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p> <p id="xdx_84F_ecustom--CreditFacilityRelatedCostsExpensesAndDeferredFinancingCostsPplicyTextBlock_zuw4JcvflfH4" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_865_zHBPBh3pJyS8">Credit Facility Related Costs, Expenses and Deferred Financing Costs</span> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Credit Facility (as defined in Note 6) is recorded at carrying value, which approximates fair value. Interest expense and unused commitment fees on the Credit Facility are recorded on an accrual basis. Unused commitment fees are included in interest and borrowing expenses in the Consolidated Statements of Operations. Deferred financing costs include capitalized expenses related to the closing of the Credit Facility. Amortization of deferred financing costs is computed on the straight-line basis over the stated term of the line of credit. The amortization of such costs is included in interest and borrowing expenses in the Consolidated Statements of Operations, with any unamortized amounts included in Deferred financing costs on the Consolidated Statements of Assets and Liabilities.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--IncomeTaxPolicyTextBlock_zn8JZQgfADP8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_860_zicWprxTrmke">Income Taxes </span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund recognizes tax positions in its consolidated financial statements only when it is more likely than not that the relevant taxing authority will, upon examination, sustain the position based on its merits. A position that meets this standard is measured at the maximum benefit that will more likely than not be realized upon settlement. The Fund classifies any interest expense related to income taxes in income tax expense, and any income tax penalties under expenses in the Consolidated Statements of Operations. For the three and six months ended June 30, 2026, and June 30, 2025, the Fund did <span id="xdx_90D_eus-gaap--UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_iI_pn3n3_do_c20260630_zrvDVtCtTcgj" title="Interest or penalties"><span id="xdx_901_eus-gaap--UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_iI_pn3n3_do_c20251231_zWeSmtnooyRi" title="Interest or penalties">no</span></span>t incur any interest or penalties.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">State and federal deferred income tax assets or liabilities are computed based on the difference between the consolidated financial statement and income tax bases of assets and liabilities, using the enacted statutory tax rate. Deferred income tax expenses or benefits are based on the changes in the assets and liabilities from period to period.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction. Based on this review, the Fund has concluded that the Fund’s net deferred tax liability at June 30, 2026, was $<span id="xdx_90A_eus-gaap--DeferredIncomeTaxLiabilities_c20260630_pn3n3" title="Deferred tax liability">0</span> and December 31, 2025, was $<span id="xdx_904_eus-gaap--DeferredIncomeTaxLiabilities_c20251231_pn3n3" title="Deferred tax liability">265</span> thousand. This deferred tax liability primarily represents the estimated future tax liability that would be due if the unrealized gains were realized as of the balance sheet date. The Fund is subject to potential examination by certain taxing authorities in various jurisdictions. The Fund’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund will file tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, The Fund is subject to examination by U.S. federal, state, local and foreign jurisdictions, where applicable. As of June 30, 2026, the tax years from the initial period forward remain subject to examination by the major tax jurisdictions under the statute of limitations.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund elected to be regulated as a BDC under the 1940 Act on December 19, 2025. In addition, for U.S. federal income tax purposes, the Fund has elected to be treated as a RIC under Subchapter M of the Code. The Fund intends to qualify each taxable year hereafter, as a RIC under Subchapter M of the Code, beginning with its fiscal year ending December 31, 2026. So long as the Fund maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its shareholders as distributions. Rather, any tax liability related to income earned and distributed by the Fund would represent obligations of the Fund’s investors and would not be reflected in the consolidated financial statements of the Fund. Income earned or loss incurred by the Fund prior to qualifying as a RIC is not attributable to the shareholders of the RIC. As such, income or loss from this period is excluded from the RIC's taxable income calculation.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To qualify for and maintain qualification as a RIC, the Fund must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Fund must distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amounts not distributed on a timely basis in accordance with a calendar year distribution requirement are subject to a non deductible 4% U.S. federal excise tax. To prevent imposition of the excise tax, the Fund must distribute during each calendar year an amount at least equal to the sum of (i) 98% of its ordinary income for the calendar year, (ii) 98.2% of its capital gains in excess of its capital losses (adjusted for certain ordinary losses) for the one-year period ending December 31 of the calendar year and (iii) any ordinary income and capital gains for previous years that were not distributed during those years. For these purposes, the Fund will be deemed to have distributed any income or gains on which it paid U.S. federal income tax.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_848_ecustom--DistributionsAndDistributionReinvestmentPlanPolicyTextBlock_zG8Y4vCnEzGi" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_86A_zmrkPMm7OOhb">Distributions and Distribution Reinvestment Plan</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Distributions to members will be recorded on the record date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations that may differ in various (or significant) respects from GAAP. Certain capital accounts in the consolidated financial statements have been adjusted for permanent book-tax differences. These adjustments have no impact on net asset values or results of operations. The Fund has adopted a distribution reinvestment plan, pursuant to which we will reinvest all cash distributions declared on behalf of members who do not elect to receive their distributions in cash. As a result, if a cash distribution or other distribution is authorized and declared, then members who have not opted out of our distribution reinvestment plan will have their cash distributions automatically reinvested in additional units, rather than receiving the cash distribution or other distribution. Distributions on fractional units will be credited to each participating member’s account to three decimal places.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p id="xdx_846_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z8rSsGIyC2S2" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_866_zvGRvqF7TZU5">Recent Accounting Pronouncements</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund considers the applicability and impact of all accounting standard updates (“ASU”) issued by the FASB. ASUs not listed were assessed by the Fund and either determined to be not applicable or not expected to have a material effect on the accompanying consolidated financial statements.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”),” which enhances disclosure requirements about significant segment expenses that are regularly provided to the chief operating decision maker (the “CODM”). ASU 2023-07, among other things, (i) requires a single segment public entity to provide all of the disclosures as required by ASC 280, (ii) requires a public entity to disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources and (iii) provides the ability for a public entity to elect more than one performance measure. ASU 2023-07 is effective for the fiscal years beginning after December 15, 2023, and interim periods beginning with the quarter ended September 30, 2025. The Fund has adopted ASU 2023-07 effective December 31, 2024 and concluded that the application of this guidance impacted the notes to the consolidated financial statements only and did not affect the Fund’s financial position or the results of its operations. See Note 8 for more information on the effects of the adoption of ASU 2023-07. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09")," which intends to improve the transparency of income tax disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be adopted on a prospective basis with the option to apply retrospectively. The adoption of this ASU did not have a material impact to the Fund's consolidated financial statements.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_846_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zDFF26BDqSQ1" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_860_zZXsuj594Og3">Basis of Presentation</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification (“ASC”) Topic 946, Financial Services – <i>Investment Companies</i> ("ASC 946")<i>. </i>The books and records of the Fund are maintained in U.S. Dollars.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p id="xdx_84E_eus-gaap--ConsolidationPolicyTextBlock_zYn69wpOte9h" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_864_zIm2WvLoBPc5">Consolidation</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As provided under ASC 946, the Fund does 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.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund consolidated the results of its wholly-owned subsidiaries: Partners Group BDC Finance I, LLC, Partners Group BDC Finance II, LLC and Partners Group Revolver Pooling BDC, LLC. All intercompany balances and transactions have been eliminated in consolidation.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_840_eus-gaap--UseOfEstimates_zF5jKtXbZffc" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_861_zk83GYYssKv6">Use of Estimates</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of gain and loss contingencies at the date of the consolidated financial statements. Such amounts could differ from those estimates and such differences could be material. Assumptions and estimates regarding the valuation of investments involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. Actual results may ultimately differ from those estimates.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p id="xdx_84C_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_znqaZdhYRGX4" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_867_zFWHuFLSs5n1">Cash and Cash Equivalents </span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents consist of demand deposits and highly liquid investments, such as money market funds, with original maturities of three months or less. Cash and cash equivalents are carried at cost, which approximates fair value. The Fund deposits its cash and cash equivalents with financial institutions and, at times, may exceed the Federal Deposit Insurance Corporation insured limit.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The fair value of the Cash Equivalents is measured under Level 1 under ASC 820-10.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84C_ecustom--InvestmentsRelatedTransactionsRevenueRecognitionAndExpensesPolicyTextBlock_zZ0EErusavWe" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_86A_zjwQWSzMN9t3">Investment Related Transactions, Revenue Recognition and Expenses</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund invests primarily in private illiquid debt, loans and other assets for which no (or only a limited) liquid market exists or that are subject to legal or other restrictions on transfer and are difficult to sell in a secondary market. These securities are exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities”. Investment transactions in restricted securities are recorded on a trade-date basis. Restricted securities are valued in accordance with the investment valuation policies discussed below.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investment transactions are recorded on a trade-date basis. Realized gains (losses) on investments sold are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the cost basis of the investment using the specific identification method. <span style="background-color: white">Unrealized appreciation or depreciation reflects the difference between the fair value of the investments and the cost basis of the investments. </span>Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations of premiums. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the general course of its business, the Fund receives certain fees from portfolio companies, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as other income in investment income when earned.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK interest is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK interest is recorded as interest income.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Expenses are recorded on an accrual basis.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_846_ecustom--NonaccrualInvestmentsPolicyTextBlock_z1n0f5IUVSmh" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_86C_z3yExWrz0Lz">Non-Accrual Investments</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Loans or debt securities are placed on non-accrual status when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest are paid and, in management’s judgment, principal and interest payments are likely to remain current. The Fund may make exceptions to this treatment if a loan has sufficient collateral value and is in the process of collection. As of June 30, 2026, and December 31, 2025, there were no loans placed on non-accrual status.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_841_eus-gaap--InvestmentPolicyTextBlock_zgVElCPbz7X9" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_863_zuRKM7DrHTBb">Valuation of Investments</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0F0F0F">The Fund is required to report its investments, including those for which current market values are not readily available, at fair value. Investments held by the Fund include senior secured debt, common equity, preferred equity, and asset-backed securities (collectively, "Direct Investments”) and partnership investments ("Partnership Investments").</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0F0F0F">The Fund’s investments are measured at fair value in accordance with ASC 820, Fair Value Measurement (“ASC 820”), which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date, and Rule 2a-5 under the 1940 Act (“Rule 2a-5”). Pursuant to Rule 2a-5, the Board designated the Adviser as "valuation designee" to perform fair value determinations and approved amended Valuation Procedures.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is based on observable market prices or parameters or derived from such prices or parameters when such quotations are readily available. In accordance with Rule 2a-5, a market quotation is “readily available” only when it is a quoted price (unadjusted) in active markets for identical instruments that a fund can access at the measurement date, provided that such a quotation is not considered to be readily available if it is not reliable.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Adviser, as “valuation designee” under Rule 2a-5, determines the fair value of the Fund’s investments in conformity with U.S. GAAP, Rule 2a-5, and the Fund’s Valuation Procedures. As permitted by the Valuation Procedures, the Adviser values the Fund's non-traded Investments in consultation with persons who are employees of the Adviser's parent company or one of its subsidiaries. The Valuation Procedures require evaluation of all relevant factors reasonably available to the Adviser and its affiliates at the time the Fund’s non-traded Investments are valued.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p id="xdx_84B_ecustom--DirectInvestmentsPolicyTextBlock_zlJSQgne7zo5" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_86B_zJCkw0B8MVTj">Direct Investments</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In assessing the fair value of the Fund’s non-traded senior secured debt and preferred equity investments in accordance with the Valuation Procedures, the Adviser uses a variety of methods such as earnings multiples, discounted cash flow and market data from third party pricing services. The Adviser makes valuation assumptions based on market conditions existing at the end of each reporting period. Quoted market prices or dealer quotes for certain similar instruments are used for debt investments where appropriate. Other techniques, such as option pricing models and estimated discounted value of future cash flows, are used to determine fair value for the remaining financial instruments. The fair values of asset-backed securities are determined by price quotations from unaffiliated market makers, financial institutions that regularly trade similar investments or independent valuation agents using industry standard valuation models.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of the inherent uncertainty of estimates, fair value determinations based on estimates may differ from the values that would have been used had a ready market for the securities existed, and the differences could be material.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_844_ecustom--PartnershipInvestmentsPolicyTextBlock_zAuHEq7Yn3V7" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_865_zZji6CAz8wT7">Partnership Investments</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair values of partnership investments determined by the Adviser in accordance with the Valuation Procedures are estimates. These estimates are net of management and performance incentive fees or allocations payable pursuant to the respective organizational documents of the partnership investments. Ordinarily, the fair value of a partnership investment is based on the net asset value of that partnership reported by its investment manager. If the Adviser determines that the most recent net asset value reported by the investment manager of a partnership investment does not represent fair value or if the manager of a partnership investment fails to report a net asset value to the Fund, a fair value determination is made by the Adviser in accordance with the Valuation Procedures. In making that determination, the Adviser will consider whether it is appropriate, considering all relevant circumstances, to value such partnership investment at the net asset value last reported by its investment manager, or whether to adjust such value by a premium or discount.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of the inherent uncertainty of estimates, fair value determinations based on estimates may differ from the values that would have been used had a ready market for the securities existed, and the differences could be material. For each of the Fund’s partnership investment(s) (for the purposes of this paragraph, an “Investee”), the Fund has no right to cause the Investee or any third party to purchase the Fund’s investment in the Investee, at the end of the term of such investment, or any other time. Accordingly, in a typical partnership investment, the Fund expects to realize the value remaining in its investment at the end of the investment’s term through distributions resulting from the liquidation of the remaining assets of the Investee.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Valuation Procedures are implemented by the Adviser and State Street Bank and Trust Company, as the Fund’s administrator (the “Administrator”). Both the Adviser and the Administrator are subject to the oversight of, and report to, the Board. The Adviser and the Administrator monitor and review the methodologies of the various third-party pricing services that are employed by the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Adviser and certain of its affiliates act as investment advisers to clients other than the Fund. However, the valuation attributed to a non-traded Investment held by the Fund and to the same non-traded Investment held by another client, one of the Adviser's affiliates, or by a client of one of its affiliates might differ due to differences in accounting, regulatory or other factors applicable to the Fund, to such other client or the Adviser's affiliate.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 820 prioritizes the use of observable market prices derived from such prices over entity-specific inputs. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund applies ASC 820, which establishes a framework for measuring fair value in accordance with U.S. GAAP and required disclosures of fair value measurements. The Fund discloses the fair value of its investments in a hierarchy which prioritizes and ranks the level of market observability used in the determination of fair value. In accordance with ASC 820, these levels are summarized below:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td>Level 1 — Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities at the measurement date.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td>Level 2 — Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td>Level 3 — Valuations based on inputs that are unobservable and significant to the fair value measurement.</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial instrument’s level within the hierarchy is based on the lowest level of any input that is significant to the fair value measurement.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transfers between levels, if any, are recognized at the beginning of the reporting period in which the transfers occur. The Fund evaluates the source of inputs used in the determination of fair value, including any markets in which the investments, or similar investments, are trading. When the fair value of an investment is determined using inputs from a pricing service (or principal market makers), the Fund considers various criteria in determining whether the investment should be classified as a Level 2 or Level 3 investment. Criteria considered includes the pricing methodologies of the pricing services (or principal market makers) to determine if the inputs to the valuation are observable or unobservable, as well as the number of prices obtained and an assessment of the quality of the prices obtained. However, the determination of what constitutes “observable” requires significant judgment.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value assigned to these investments is based upon available information and may fluctuate from period to period. In addition, it does not necessarily represent the amount that might ultimately be realized upon sale.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Valuation Designee generally uses the income approach to determine fair value for loans where market quotations are not readily available, as long as it is appropriate. If there is deterioration in credit quality or a debt investment is in workout status, the Valuation Designee may consider other factors in determining the fair value, including the value attributable to the debt investment from the enterprise value of the portfolio company or the proceeds that would be received in a liquidation analysis. This liquidation analysis may also include probability weighting of alternative outcomes. The Valuation Designee generally considers our debt to be performing if the borrower is not in default, the borrower is remitting payments in a timely manner, the loan is in covenant compliance and the loan is otherwise not deemed to be impaired. In determining the fair value of the performing debt, the Valuation Designee considers fluctuations in current interest rates, the trends in yields of debt instruments with similar credit ratings, financial condition of the borrower, economic conditions and other relevant factors, both qualitative and quantitative. In the event that a debt instrument is not performing, as defined above, the Valuation Designee will evaluate the value of the collateral utilizing the same framework described above for a performing loan to determine the value of the debt instrument.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the income approach, discounted cash flow models are utilized to determine the present value of the future cash flow streams of our debt investments, based on future interest and principal payments as set forth in the associated loan agreements. In determining fair value under the income approach, the Valuation Designee also considers the following factors: applicable market yields and leverage levels, recent transactions, credit quality, prepayment penalties, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, and changes in the interest rate environment and the credit markets that generally may affect the price at which similar investments may be made.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the market approach, the enterprise value methodology is typically utilized to determine the fair value of an investment. There is no one methodology to estimate enterprise value and, in fact, for any one portfolio company, enterprise value is generally best expressed as a range of values, from which the Valuation Designee derives a single estimate of enterprise value. In estimating the enterprise value of a portfolio company, the Valuation Designee analyzes various factors consistent with industry practice, including but not limited to original transaction multiples, the portfolio company’s historical and projected financial results, applicable market trading and transaction comparables, applicable market yields and leverage levels, the nature and realizable value of any collateral, the markets in which the portfolio company does business, and comparisons of financial ratios of peer companies that are public. Typically, the enterprise values of private companies are based on multiples of earnings before interest, income taxes, depreciation and amortization (“EBITDA”), cash flows, net income, revenues, or in limited cases, book value.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_847_ecustom--ReceivablespayablesFromInvestmentsSoldpurchasedPolicyTextBlock_z5CQtCqEFrK8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_861_zwlpZN6gdA9e">Receivables/Payables From Investments Sold/Purchased</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Receivables/payables from investments sold/purchased consist of amounts receivable to or payable by the Fund for transactions that have not settled at the reporting date. As of June 30, 2026, and December 31, 2025, the Fund had $<span id="xdx_908_eus-gaap--LongTermInvestmentsAndReceivablesNet_c20260630_pn3n3" title="Receivables for investments sold">104</span> thousand and $<span id="xdx_90B_eus-gaap--LongTermInvestmentsAndReceivablesNet_c20251231_pn3n3" title="Receivables for investments sold">112</span> thousand of receivables for investments sold respectively. As of June 30, 2026, and December 31, 2025, the Fund had $<span id="xdx_903_eus-gaap--PayableInvestmentPurchase_iI_pn3n3_c20260630_zp2o2oOrymJ" title="Payable for investments purchased">1,146</span> thousand and $<span id="xdx_902_eus-gaap--PayableInvestmentPurchase_iI_pn3n3_c20251231_zd6Tw9yqZLz" title="Payable for investments purchased">0</span> of payables for investments purchased respectively.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> 104000 112000 1146000 0 <p id="xdx_84B_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zT65LQMT5da5" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_869_z8Myh3DhaeR9">Foreign Currency Transactions</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amounts denominated in foreign currencies are translated into U.S. dollars on the following basis: (i) investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates effective on the last business day of the period; and (ii) purchases and sales of investments, borrowings and repayments of such borrowings, income, and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates prevailing on the transaction dates.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The Fund includes net changes in fair values on investments held resulting from foreign exchange rate fluctuations in foreign currency and other transactions, if any, in the Consolidated Statements of Operations.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices more volatile than those of comparable U.S. companies or U.S. government securities.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84C_ecustom--OrganizationExpensesPolicyTextBlock_zVYiBGHNAr41" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_863_zF4BDVbKOxaa">Organization Expenses</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Costs associated with the organization of the Fund are expensed as incurred. These expenses consist primarily of legal fees and other costs of organizing the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p> <p id="xdx_84F_ecustom--CreditFacilityRelatedCostsExpensesAndDeferredFinancingCostsPplicyTextBlock_zuw4JcvflfH4" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_865_zHBPBh3pJyS8">Credit Facility Related Costs, Expenses and Deferred Financing Costs</span> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Credit Facility (as defined in Note 6) is recorded at carrying value, which approximates fair value. Interest expense and unused commitment fees on the Credit Facility are recorded on an accrual basis. Unused commitment fees are included in interest and borrowing expenses in the Consolidated Statements of Operations. Deferred financing costs include capitalized expenses related to the closing of the Credit Facility. Amortization of deferred financing costs is computed on the straight-line basis over the stated term of the line of credit. The amortization of such costs is included in interest and borrowing expenses in the Consolidated Statements of Operations, with any unamortized amounts included in Deferred financing costs on the Consolidated Statements of Assets and Liabilities.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--IncomeTaxPolicyTextBlock_zn8JZQgfADP8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_860_zicWprxTrmke">Income Taxes </span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund recognizes tax positions in its consolidated financial statements only when it is more likely than not that the relevant taxing authority will, upon examination, sustain the position based on its merits. A position that meets this standard is measured at the maximum benefit that will more likely than not be realized upon settlement. The Fund classifies any interest expense related to income taxes in income tax expense, and any income tax penalties under expenses in the Consolidated Statements of Operations. For the three and six months ended June 30, 2026, and June 30, 2025, the Fund did <span id="xdx_90D_eus-gaap--UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_iI_pn3n3_do_c20260630_zrvDVtCtTcgj" title="Interest or penalties"><span id="xdx_901_eus-gaap--UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_iI_pn3n3_do_c20251231_zWeSmtnooyRi" title="Interest or penalties">no</span></span>t incur any interest or penalties.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">State and federal deferred income tax assets or liabilities are computed based on the difference between the consolidated financial statement and income tax bases of assets and liabilities, using the enacted statutory tax rate. Deferred income tax expenses or benefits are based on the changes in the assets and liabilities from period to period.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction. Based on this review, the Fund has concluded that the Fund’s net deferred tax liability at June 30, 2026, was $<span id="xdx_90A_eus-gaap--DeferredIncomeTaxLiabilities_c20260630_pn3n3" title="Deferred tax liability">0</span> and December 31, 2025, was $<span id="xdx_904_eus-gaap--DeferredIncomeTaxLiabilities_c20251231_pn3n3" title="Deferred tax liability">265</span> thousand. This deferred tax liability primarily represents the estimated future tax liability that would be due if the unrealized gains were realized as of the balance sheet date. The Fund is subject to potential examination by certain taxing authorities in various jurisdictions. The Fund’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund will file tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, The Fund is subject to examination by U.S. federal, state, local and foreign jurisdictions, where applicable. As of June 30, 2026, the tax years from the initial period forward remain subject to examination by the major tax jurisdictions under the statute of limitations.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund elected to be regulated as a BDC under the 1940 Act on December 19, 2025. In addition, for U.S. federal income tax purposes, the Fund has elected to be treated as a RIC under Subchapter M of the Code. The Fund intends to qualify each taxable year hereafter, as a RIC under Subchapter M of the Code, beginning with its fiscal year ending December 31, 2026. So long as the Fund maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its shareholders as distributions. Rather, any tax liability related to income earned and distributed by the Fund would represent obligations of the Fund’s investors and would not be reflected in the consolidated financial statements of the Fund. Income earned or loss incurred by the Fund prior to qualifying as a RIC is not attributable to the shareholders of the RIC. As such, income or loss from this period is excluded from the RIC's taxable income calculation.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To qualify for and maintain qualification as a RIC, the Fund must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Fund must distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amounts not distributed on a timely basis in accordance with a calendar year distribution requirement are subject to a non deductible 4% U.S. federal excise tax. To prevent imposition of the excise tax, the Fund must distribute during each calendar year an amount at least equal to the sum of (i) 98% of its ordinary income for the calendar year, (ii) 98.2% of its capital gains in excess of its capital losses (adjusted for certain ordinary losses) for the one-year period ending December 31 of the calendar year and (iii) any ordinary income and capital gains for previous years that were not distributed during those years. For these purposes, the Fund will be deemed to have distributed any income or gains on which it paid U.S. federal income tax.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> 0 0 0 265000 <p id="xdx_848_ecustom--DistributionsAndDistributionReinvestmentPlanPolicyTextBlock_zG8Y4vCnEzGi" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_86A_zmrkPMm7OOhb">Distributions and Distribution Reinvestment Plan</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Distributions to members will be recorded on the record date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations that may differ in various (or significant) respects from GAAP. Certain capital accounts in the consolidated financial statements have been adjusted for permanent book-tax differences. These adjustments have no impact on net asset values or results of operations. The Fund has adopted a distribution reinvestment plan, pursuant to which we will reinvest all cash distributions declared on behalf of members who do not elect to receive their distributions in cash. As a result, if a cash distribution or other distribution is authorized and declared, then members who have not opted out of our distribution reinvestment plan will have their cash distributions automatically reinvested in additional units, rather than receiving the cash distribution or other distribution. Distributions on fractional units will be credited to each participating member’s account to three decimal places.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p id="xdx_846_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z8rSsGIyC2S2" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i><span id="xdx_866_zvGRvqF7TZU5">Recent Accounting Pronouncements</span></i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund considers the applicability and impact of all accounting standard updates (“ASU”) issued by the FASB. ASUs not listed were assessed by the Fund and either determined to be not applicable or not expected to have a material effect on the accompanying consolidated financial statements.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”),” which enhances disclosure requirements about significant segment expenses that are regularly provided to the chief operating decision maker (the “CODM”). ASU 2023-07, among other things, (i) requires a single segment public entity to provide all of the disclosures as required by ASC 280, (ii) requires a public entity to disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources and (iii) provides the ability for a public entity to elect more than one performance measure. ASU 2023-07 is effective for the fiscal years beginning after December 15, 2023, and interim periods beginning with the quarter ended September 30, 2025. The Fund has adopted ASU 2023-07 effective December 31, 2024 and concluded that the application of this guidance impacted the notes to the consolidated financial statements only and did not affect the Fund’s financial position or the results of its operations. See Note 8 for more information on the effects of the adoption of ASU 2023-07. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09")," which intends to improve the transparency of income tax disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be adopted on a prospective basis with the option to apply retrospectively. The adoption of this ASU did not have a material impact to the Fund's consolidated financial statements.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_805_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zCKZ680gZEU" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 3. <span id="xdx_824_zWQumNvvP2W6">Fees, Expenses, Agreements and Related Party Transactions </span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Investment Advisory Agreement </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 31, 2023, the Fund entered into the Investment Advisory Agreement, pursuant to which the Adviser manages the Fund on a day-to-day basis. The Adviser is responsible for originating prospective investments, conducting research and due diligence investigations on potential investments, analyzing investment opportunities, negotiating and structuring the Fund’s investments and monitoring its investments and portfolio companies on an ongoing basis.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The Investment Advisory Agreement is effective for an initial two-year term and will remain in effect from year-to-year thereafter if approved annually by a majority of the Board or by the holders of a majority of the Fund’s outstanding voting securities and, in each case, a majority of the independent trustees. The Fund may terminate the Investment Advisory Agreement, without payment of any penalty, upon 60 days’ written notice. The Investment Advisory Agreement will automatically terminate in the event of its assignment within the meaning of the 1940 Act and related SEC guidance and interpretations.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund pays the Adviser a fee for its services under the Investment Advisory Agreement consisting of two components: a management fee and an incentive fee. The cost of both the management fee and the incentive fee will ultimately be borne by the members.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Base Management Fee</i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The base management fee will be payable quarterly in arrears at an annual rate of <span id="xdx_90F_ecustom--BaseManagementFeePercentage_c20260101__20260630_zPRElLQjT0Dg" title="Base management fee percentage"><span id="xdx_90B_ecustom--BaseManagementFeePercentage_c20250101__20250630_pdd" title="Base management fee percentage">1.00%</span></span> of the value of the Fund’s adjusted net assets as of the end of the most recently completed calendar quarter. For purposes of the Investment Advisory Agreement, adjusted net assets means the Fund’s total net assets less any base management fees and incentive fees incurred by the Fund with respect to such calendar quarter end. The base management fee calculation will be prorated for any partial quarters.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three and six months ended June 30, 2026, the Fund incurred base management fees of $<span id="xdx_904_ecustom--BaseManagementFees_c20260401__20260630_pn3n3">791</span> thousand and $<span id="xdx_905_ecustom--BaseManagementFees_pn3n3_c20260101__20260630_z7nu1IJWu99f">1,474</span> thousand of which $<span id="xdx_904_ecustom--BaseManagementFeesWaived_pn3n3_c20260401__20260630_zNCHx6XoXXUc">0</span> and $<span id="xdx_90C_ecustom--BaseManagementFeesWaived_c20260101__20260630_pn3n3">0</span> was waived, respectively. For the three and six months ended June 30, 2025, the Fund incurred base management fees of $<span id="xdx_90B_ecustom--BaseManagementFees_pn3n3_c20250401__20250630_zv0mzYKxDxil">543</span> thousand and $<span id="xdx_90E_ecustom--BaseManagementFees_pn3n3_c20250101__20250630_zvQOSJw5AYnb">981</span> thousand of which $<span id="xdx_90A_ecustom--BaseManagementFeesWaived_pn3n3_c20250401__20250630_zWPUOYy247B3">0</span> and $<span id="xdx_90C_ecustom--BaseManagementFeesWaived_pn3n3_c20250101__20250630_zx0q4HhuTRva">0</span> was waived, respectively.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Incentive Fee</i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund will pay to the Adviser an income-based incentive fee at the close of each fiscal year in which the Hurdle Rate (defined below) is exceeded, of 10% of the excess, if any, of (i) the Pre-Incentive Fee Net Gains (as defined below) of the Fund over (ii) the then balance, if any, of the respective Loss Recovery Account (as defined below) for the Units (each expressed as a percentage of the Fund’s fiscal year-end net asset value) before deduction of the Incentive Fee.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify">No Incentive Fee will be payable to the Adviser if, at the close of a fiscal year, the excess, if any, of (i) the Pre-Incentive Fee Net Gains of the Fund, attributable to the Units (based on the net asset value of the Fund’s assets) over (ii) the then balance, if any, of the Loss Recovery Account for the Units (expressed as a percentage of the Fund’s net asset value) does not exceed 6.00% of the monthly average of the Fund’s net asset value attributable to the Units (based on the net asset value of the Fund’s assets) before deduction of the Incentive Fee for that fiscal year (the “Hurdle Rate”).</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify">The Incentive Fee will be subject to a catch-up intended to allocate all excess Pre-Incentive Fee Net Gains, attributable to the Units, to the Adviser once the Hurdle Rate has been achieved until the Adviser has been allocated its 10% Incentive Fee on all Pre-Incentive Fee Net Gains for the relevant period.</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify">“Pre-Incentive Fee Net Gains” means the amount by which any interest income, dividend income, realized and unrealized gains, and any other income accrued on investments of the Fund during the fiscal year (“Gains”) exceeds all operating expenses for the Fund and realized and unrealized losses for the fiscal year (including costs related to hedging, as well as the Base Management Fee, but excluding the Incentive Fee) (“Losses”). For this purpose, net losses shall mean the amount by which Losses exceed Gains (“Net Losses”).</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify">After the close of the fiscal year, the Adviser or an affiliate thereof may withdraw up to 100% of the Incentive Fee (computed on the basis of unaudited data) that was credited to the incentive fee account and debited from that Unit’s account with respect to such fiscal year.</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify">The Fund will maintain a memorandum account for the Units (each a “Loss Recovery Account”), which will have an initial balance of zero and will be (i) increased upon the close of each fiscal year of the Fund by the amount of the Net Losses of the Fund for the fiscal year (based on the net asset value of the Fund’s assets), and (ii) decreased (but not below zero) upon the close of each fiscal year of the Fund by the amount of the Pre-Incentive Fee Net Gains of the Fund for the fiscal year.</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 1, 2025, the Fund entered into the Amended and Restated Investment Advisory Agreement. The Amended and Restated Investment Advisory Agreement limits the portion of the Incentive Fee sourced from capital gains such that it will not exceed 20.0% of the Fund’s realized capital gains on a cumulative basis from inception, calculated as of the end of each fiscal year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any Incentive Fees sourced from capital gains previously paid. The Amended and Restated Investment Advisory Agreement also removed unrealized gains from the definition of Pre-Incentive Fee Net Gains.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three and six months ended June 30, 2026, the Fund incurred incentive fees of $<span id="xdx_90D_ecustom--IncentiveFees_pn3n3_c20260401__20260630_zF0L9iLTcvhe">0</span> and $<span id="xdx_906_ecustom--IncentiveFees_pn3n3_c20260101__20260630_zXdIShtXHgDl">0</span> of which $<span id="xdx_903_ecustom--IncentiveFeesWaived_c20260401__20260630_pn3n3">0</span> and $<span id="xdx_90C_ecustom--IncentiveFeesWaived_pn3n3_c20260101__20260630_z2Mi2KbcuqGk">0</span> was waived, respectively. For the three and six months ended June 30, 2025, the Fund incurred incentive fees of $<span id="xdx_900_ecustom--IncentiveFees_pn3n3_c20250401__20250630_z2d49wSJCg95">(16)</span> thousand and $<span id="xdx_901_ecustom--IncentiveFees_pn3n3_c20250101__20250630_zBYYUlygzPS4">336</span> thousand of which $<span id="xdx_90E_ecustom--IncentiveFeesWaived_pn3n3_c20250401__20250630_zFHGh0GkIETe">0</span> and $<span id="xdx_903_ecustom--IncentiveFeesWaived_pn3n3_c20250101__20250630_zLC0oxiaytD5">0</span> was waived, respectively.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Expense Support and Conditional Reimbursement Agreement </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 1, 2026, the Fund and the Adviser entered into an Amended and Restated Expense Support and Conditional Reimbursement Agreement (the “Amended Expense Agreement”), which amended certain provisions of the Expense Support Agreement.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Expense Support Agreement, the Adviser waived the Base Management Fee, paid and/or absorbed a portion of the Fund’s Other Operating Expenses in order that such expenses do not exceed 1.00% (on an annualized basis) of the Fund’s Aggregate Capital Commitments (as such terms were defined in the Expense Support Agreement, and, such limit, the “Expense Limitation”).</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 31, 2023, the Fund entered into an expense support and conditional reimbursement agreement with the Adviser (the “Expense Support Agreement”). Under the terms of the Expense Support Agreement, the Adviser (i) shall pay a portion of the Fund’s Other Operating Expenses (as defined below) to the effect that such expenses do not exceed 1.00% (on annualized basis) of the Fund’s Aggregate Capital Commitments, and (ii) may elect to pay an additional portion of the Fund’s expenses from time to time, which the Fund will be obligated to reimburse to the Adviser at a later date if certain conditions are met. "Aggregate Capital Commitments" means the sum of all capital commitments made pursuant to subscription agreements between investors and the Fund, and all amounts paid to the Fund by upfront cash payments in connection with investors purchase of the Fund's units. “Other Operating Expenses” means the Fund’s organization and offering expenses, professional fees, directors fees, administration fees, and other general and administrative expenses, but excluding the Base Management Fee, taxes, interest expense, brokerage commissions, transaction-related expenses arising out of investments made by the Fund, credit facility arrangement fees, servicing fees and the Incentive Fees.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Adviser agrees to waive the Base Management Fee payable to it (excluding the Incentive Fee) by the Fund and/or to pay or absorb expenses of the Fund (collectively, a “Waiver”) so that the Other Operating Expenses of the Fund will not exceed 1.00% (on annualized basis) of the Fund’s Aggregate Capital Commitments (the “Expense Limitation”).</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The Fund agrees to carry forward, for a period not to exceed (3) three years from the date on which a Waiver is made by the Adviser, all fees and expenses in excess of the Expense Limitation that have been waived, paid or absorbed by the Adviser, and to repay the Adviser such amounts, provided the Fund is able to effect such repayment and remain in compliance with the Expense Limitation. To the extent that such repayment is due, it shall be made as promptly as possible, in conjunction with the next succeeding payment of the Base Management Fee to the Adviser. To the extent that the full amount of such waived amount or expense paid cannot be repaid as provided in the previous sentence within such applicable three-year period, such repayment obligation shall be extinguished.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three and six months ended June 30, 2026, and June 30, 2025, the Adviser made <span id="xdx_903_ecustom--SupportPayments_pn3n3_do_c20250101__20250630_zxrEpjDUT5N8">no</span> support payments on behalf of the Fund. For the three and six months ended June 30, 2026, and June 30, 2025, the Fund made <span id="xdx_904_ecustom--ReimbursementPayments_pn3n3_do_c20250101__20250630_zSRw8lbvOO7">no</span> reimbursement payments to the Adviser.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2026, and December 31, 2025, the Fund had a receivable from the Adviser for expense support payments of $<span id="xdx_906_ecustom--ReceivableFromAdviser_c20260101__20260630_pn3n3">0</span> and $<span id="xdx_900_ecustom--ReceivableFromAdviser_pn3n3_c20250101__20251231_zEu6C1hFYlyj">0</span>, respectively.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Board of Directors' Fees</i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each Independent Director is paid an annual fee equal to $50 thousand, payable by the Fund quarterly in arrears. The Fund also reimburses the expenses of the Independent Directors incurred in connection with their services as Independent Directors. The Independent Directors do not receive any pension or retirement benefits from the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> 0.0100 0.0100 791000 1474000 0 0 543000 981000 0 0 0 0 0 0 -16000 336000 0 0 0 0 0 0 <p id="xdx_80F_eus-gaap--InvestmentTextBlock_zKd3x04snhK7" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 4. <span id="xdx_821_zyIwuFHf1REd">Investments</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The composition of the Fund's investment portfolio (excluding cash equivalents) at cost and fair value as of June 30, 2026, and December 31, 2025 was as follows:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfInvestmentPortfolioAtCost_pn3n3_znfcG3bHo2l9" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Investments (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B9_z9sBP0VnC2ad" style="display: none; text-align: left">Schedule of investment portfolio at cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Investment Type</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total Investments at Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Cost">25,536</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Fair Value">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zv5DG9Ddo9Il" title="% of total investments at fair value">4.95</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Cost">490,443</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Fair Value">486,556</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zw39fYJIOtY7" title="% of total investments at fair value">93.47</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Common Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Cost">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Fair Value">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zvd0Vcyfzi8" title="% of total investments at fair value">0.02</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Cost">1,173</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Fair Value">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zwXW9suVZIr9" title="% of total investments at fair value">0.23</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Cost">7,068</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Fair Value">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zrogUudsOHV8" title="% of total investments at fair value">1.33</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total investments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260630_zPDz4GVKSiA6" title="Cost">524,345</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20260630_zB6jcW7b5vRc" title="Fair Value">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630_zX0J04LDIL18" title="% of total investments at fair value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Investment Type</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total Investments at Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Cost">10,008</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Fair Value">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_z7memvymDJ67" title="% of total investments at fair value">2.19</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Cost">431,960</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Fair Value">433,567</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z9EHhABzghNk" title="% of total investments at fair value">94.59</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Cost">7,270</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Fair Value">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zx1MrwoekDBd" title="% of total investments at fair value">1.61</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Cost">7,399</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Fair Value">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zkWFSuAp2I18" title="% of total investments at fair value">1.61</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total investments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231_z6LDofiLZsYl" title="Cost">456,637</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_901_eus-gaap--InvestmentOwnedAtFairValue_c20251231_pn3n3" title="Fair Value">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231_zM4vzIDWp805" title="% of total investments at fair value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> <p id="xdx_8AA_zSOutCn7cnRl" style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The industry composition of investments (excluding cash equivalents) based on fair value as of June 30, 2026, and December 31, 2025 was as follows:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_894_ecustom--ScheduleOfInvestmentsBasedOnFairValueTableTextBlock_pn3n3_zbgtMj47MBa2" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Investments (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B4_z41NHXj903Q6" style="display: none; text-align: left">Schedule of industry composition of investments based on fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--SoftwareMember_zBM1hMxHkIhh" title="Percentage of Investments at Fair Value">24.20</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ProfessionalServicesMember_zFs7W8F6Akrc" title="Percentage of Investments at Fair Value">10.55</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Health Care Providers &amp; Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareProvidersServicesMember_zFLkQkQZTIh" title="Percentage of Investments at Fair Value">10.44</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">IT Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ITServicesMember_zgM5GXC6oLY5" title="Percentage of Investments at Fair Value">8.14</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Trading Companies &amp; Distributors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--TradingCompaniesAndDistributorsMember_z1cSWaCLnSCc" title="Percentage of Investments at Fair Value">6.59</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Diversified Consumer Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--DiversifiedConsumerServicesMember_zpARKbHwy7Ol" title="Percentage of Investments at Fair Value">5.15</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Industrial Conglomerates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--IndustrialConglomeratesMember_zJIVFo0zm4z5" title="Percentage of Investments at Fair Value">4.95</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital Markets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--CapitalMarketsMember_zSDyNUCgkQZ1" title="Percentage of Investments at Fair Value">4.58</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Electrical Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectricalEquipmentMember_z2RFdVDlKoBl" title="Percentage of Investments at Fair Value">3.99</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financial Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--FinancialServicesMember_zxCxVXSuDXW2" title="Percentage of Investments at Fair Value">3.65</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Commercial Services &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--CommercialServicesAndSuppliesMember_z5hn2foQCHs8" title="Percentage of Investments at Fair Value">3.50</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--MachineryMember_zfCMB2n6bnch" title="Percentage of Investments at Fair Value">2.63</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Building Products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--BuildingProductsMember_zvfj3Yl8opXi" title="Percentage of Investments at Fair Value">1.95</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Health Care Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareTechnologyMember_zjoqNA9wfDd4" title="Percentage of Investments at Fair Value">1.86</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Health Care Equipment &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareEquipmentAndSuppliesMember_z0RAibUBzMy6" title="Percentage of Investments at Fair Value">1.65</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Construction &amp; Engineering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ConstructionAndEngineeringMember_zXEDsRs1Hrhb" title="Percentage of Investments at Fair Value">1.24</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Hotels, Restaurants &amp; Leisure</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HotelsRestaurantsAndLeisureMember_zkfuyJDSfdR2" title="Percentage of Investments at Fair Value">1.22</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic Equipment, Instruments &amp; Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectronicEquipmentInstrumentsAndComponentsMember_zpxUrskNb1ed" title="Percentage of Investments at Fair Value">1.19</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Automobile Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--AutomobileComponentsMember_zW3NCQyvscn5" title="Percentage of Investments at Fair Value">0.82</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Containers &amp; Packaging</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ContainersAndPackagingMember_zD5cxyndPdba" title="Percentage of Investments at Fair Value">0.51</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td>Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--InsuranceMember_zAVSpz4LRld" title="Percentage of Investments at Fair Value">0.50</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Personal Care Products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--PersonalCareProductsMember_zSfGSLH3t9ug" title="Percentage of Investments at Fair Value">0.50</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Interactive Media &amp; Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--InteractiveMediaAndServicesMember_zEbDXLjji9Kk" title="Percentage of Investments at Fair Value">0.15</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Semiconductors &amp; Semiconductor Equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--SemiconductorsAndSemiconductorEquipmentMember_z0LPiYmXp1B3" title="Percentage of Investments at Fair Value">0.04</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630_zH9O7Tjm63t6" title="Percentage of Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--SoftwareMember_zIQqsGcRJKib" title="Percentage of Investments at Fair Value">25.17</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Health Care Providers &amp; Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareProvidersAndServicesMember_zoLEKkZDZor" title="Percentage of Investments at Fair Value">11.26</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">IT Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ITServicesMember_zz02dm6v8w69" title="Percentage of Investments at Fair Value">9.21</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ProfessionalServicesMember_znN88RliUCw7" title="Percentage of Investments at Fair Value">8.93</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Capital Markets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--CapitalMarketsMember_zJvREWiqXsAh" title="Percentage of Investments at Fair Value">6.42</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Diversified Consumer Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--DiversifiedConsumerServicesMember_zRhS4UWAymGh" title="Percentage of Investments at Fair Value">5.19</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Trading Companies &amp; Distributors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--TradingCompaniesAndDistributorsMember_z8liEPqvXOG7" title="Percentage of Investments at Fair Value">4.55</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financial Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--FinancialServicesMember_zobB3Tg2OBG1" title="Percentage of Investments at Fair Value">4.34</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Electronic Equipment, Instruments &amp; Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectronicEquipmentInstrumentsAndComponentsMember_zlq3Ckvap5R4" title="Percentage of Investments at Fair Value">4.28</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commercial Services &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--CommercialServicesAndSuppliesMember_z4aK6ByJKHc" title="Percentage of Investments at Fair Value">3.34</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Electrical Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectricalEquipmentMember_zIQ4ZeyCpttg" title="Percentage of Investments at Fair Value">3.12</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--MachineryMember_zgtHpFgnlgzb" title="Percentage of Investments at Fair Value">2.90</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Building Products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--BuildingProductsMember_zQBXVJLKp9xi" title="Percentage of Investments at Fair Value">2.21</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial Conglomerates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--IndustrialConglomeratesMember_zi7MZx6eNOwa" title="Percentage of Investments at Fair Value">2.19</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Health Care Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareTechnologyMember_zrFQYpdTRoKi" title="Percentage of Investments at Fair Value">2.14</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Health Care Equipment &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareEquipmentAndSuppliesMember_zyqgfyFSwy8b" title="Percentage of Investments at Fair Value">1.88</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Hotels, Restaurants &amp; Leisure</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HotelsRestaurantsAndLeisureMember_zvx2j2HJJuI4" title="Percentage of Investments at Fair Value">1.39</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Automobile Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--AutomobileComponentsMember_ziSe0gXT6m32" title="Percentage of Investments at Fair Value">0.91</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Containers &amp; Packaging</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ContainersAndPackagingMember_zsMBluT2RXo9" title="Percentage of Investments at Fair Value">0.57</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231_zGhPUNwEkUt6" title="Percentage of Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> <p id="xdx_8AE_zeLYfv6UY2Ka" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The geographic composition of investments (excluding cash equivalents) at cost and fair value as of June 30, 2026, and December 31, 2025 was as follows:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_893_ecustom--ScheduleOfGeographicCompositionOfInvestmentsAtCostAndFairValue_pn3n3_z6OLFlDEws1c" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Investments (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B6_zBPJ3a1QPlrl" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of geographic composition of investments at cost and fair value</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Geographic</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total<br/> Investments at<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value<br/> as % of Net<br/> Assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">North America</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedAtCost_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_pn3n3" title="Amortized Cost">509,952</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedAtFairValue_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_pn3n3" title="Fair Value">505,997</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zWW8a1ug5MW1" title="% of Total Investments at Fair Value">97.20</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90F_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_z8XfzM7suV6d" title="Fair Value as % of Net Assets">160.33</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia - Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--InvestmentOwnedAtCost_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_pn3n3" title="Amortized Cost">14,393</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_pn3n3" title="Fair Value">14,574</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zx9ZXQtTwN4e" title="% of Total Investments at Fair Value">2.80</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zaXDoZE4yaM9" title="Fair Value as % of Net Assets">4.61</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260630_zd4C8ZTRaUOa" title="Amortized Cost">524,345</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20260630_z8jKvPLMqjh5" title="Fair Value">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630_zuJ9bsSCDNFl" title="% of Total Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20260630_zOiZFWelvud1" title="Fair Value as % of Net Assets">164.94</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Geographic</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total<br/> Investments at<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value<br/> as % of Net<br/> Assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">North America</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zr9P0INY39Jl" title="Amortized Cost">444,517</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zMf9on758Xea" title="Fair Value">446,164</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zif8425zQ9d8" title="% of Total Investments at Fair Value">97.34</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_903_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zZD4NLyQwT99" title="Fair Value as % of Net Assets">162.34</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia - Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zj6usweXN6Hh" title="Amortized Cost">12,120</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zKGMX2vnK9Ul" title="Fair Value">12,182</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zdvb8IGbsQnf" title="% of Total Investments at Fair Value">2.66</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zJpIIS3P5Rm3" title="Fair Value as % of Net Assets">4.43</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231_zxGsxkDLwoml" title="Amortized Cost">456,637</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20251231_zqqr3uC0NAP2" title="Fair Value">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231_zNykBs34CaUg" title="% of Total Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20251231_zXcVAOolin43" title="Fair Value as % of Net Assets">166.77</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> <p id="xdx_8AD_zk7dY11GPwm5" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfInvestmentPortfolioAtCost_pn3n3_znfcG3bHo2l9" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Investments (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B9_z9sBP0VnC2ad" style="display: none; text-align: left">Schedule of investment portfolio at cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Investment Type</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total Investments at Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Cost">25,536</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Fair Value">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zv5DG9Ddo9Il" title="% of total investments at fair value">4.95</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Cost">490,443</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Fair Value">486,556</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zw39fYJIOtY7" title="% of total investments at fair value">93.47</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Common Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Cost">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Fair Value">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zvd0Vcyfzi8" title="% of total investments at fair value">0.02</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Cost">1,173</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Fair Value">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zwXW9suVZIr9" title="% of total investments at fair value">0.23</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedAtCost_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Cost">7,068</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtFairValue_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Fair Value">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zrogUudsOHV8" title="% of total investments at fair value">1.33</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total investments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260630_zPDz4GVKSiA6" title="Cost">524,345</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20260630_zB6jcW7b5vRc" title="Fair Value">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630_zX0J04LDIL18" title="% of total investments at fair value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Investment Type</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total Investments at Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Cost">10,008</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Fair Value">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_z7memvymDJ67" title="% of total investments at fair value">2.19</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Cost">431,960</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Fair Value">433,567</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z9EHhABzghNk" title="% of total investments at fair value">94.59</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Cost">7,270</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Fair Value">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zx1MrwoekDBd" title="% of total investments at fair value">1.61</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedAtCost_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Cost">7,399</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedAtFairValue_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Fair Value">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zkWFSuAp2I18" title="% of total investments at fair value">1.61</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total investments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231_z6LDofiLZsYl" title="Cost">456,637</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_901_eus-gaap--InvestmentOwnedAtFairValue_c20251231_pn3n3" title="Fair Value">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231_zM4vzIDWp805" title="% of total investments at fair value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> 25536000 25760000 0.0495 490443000 486556000 0.9347 125000 125000 0.0002 1173000 1190000 0.0023 7068000 6940000 0.0133 524345000 520571000 1.0000 10008000 10047000 0.0219 431960000 433567000 0.9459 7270000 7368000 0.0161 7399000 7364000 0.0161 456637000 458346000 1.0000 <table cellpadding="0" cellspacing="0" id="xdx_894_ecustom--ScheduleOfInvestmentsBasedOnFairValueTableTextBlock_pn3n3_zbgtMj47MBa2" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Investments (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B4_z41NHXj903Q6" style="display: none; text-align: left">Schedule of industry composition of investments based on fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--SoftwareMember_zBM1hMxHkIhh" title="Percentage of Investments at Fair Value">24.20</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ProfessionalServicesMember_zFs7W8F6Akrc" title="Percentage of Investments at Fair Value">10.55</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Health Care Providers &amp; Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareProvidersServicesMember_zFLkQkQZTIh" title="Percentage of Investments at Fair Value">10.44</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">IT Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ITServicesMember_zgM5GXC6oLY5" title="Percentage of Investments at Fair Value">8.14</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Trading Companies &amp; Distributors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--TradingCompaniesAndDistributorsMember_z1cSWaCLnSCc" title="Percentage of Investments at Fair Value">6.59</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Diversified Consumer Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--DiversifiedConsumerServicesMember_zpARKbHwy7Ol" title="Percentage of Investments at Fair Value">5.15</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Industrial Conglomerates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--IndustrialConglomeratesMember_zJIVFo0zm4z5" title="Percentage of Investments at Fair Value">4.95</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital Markets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--CapitalMarketsMember_zSDyNUCgkQZ1" title="Percentage of Investments at Fair Value">4.58</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Electrical Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectricalEquipmentMember_z2RFdVDlKoBl" title="Percentage of Investments at Fair Value">3.99</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financial Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--FinancialServicesMember_zxCxVXSuDXW2" title="Percentage of Investments at Fair Value">3.65</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Commercial Services &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--CommercialServicesAndSuppliesMember_z5hn2foQCHs8" title="Percentage of Investments at Fair Value">3.50</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--MachineryMember_zfCMB2n6bnch" title="Percentage of Investments at Fair Value">2.63</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Building Products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--BuildingProductsMember_zvfj3Yl8opXi" title="Percentage of Investments at Fair Value">1.95</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Health Care Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareTechnologyMember_zjoqNA9wfDd4" title="Percentage of Investments at Fair Value">1.86</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Health Care Equipment &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareEquipmentAndSuppliesMember_z0RAibUBzMy6" title="Percentage of Investments at Fair Value">1.65</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Construction &amp; Engineering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ConstructionAndEngineeringMember_zXEDsRs1Hrhb" title="Percentage of Investments at Fair Value">1.24</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Hotels, Restaurants &amp; Leisure</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--HotelsRestaurantsAndLeisureMember_zkfuyJDSfdR2" title="Percentage of Investments at Fair Value">1.22</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic Equipment, Instruments &amp; Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectronicEquipmentInstrumentsAndComponentsMember_zpxUrskNb1ed" title="Percentage of Investments at Fair Value">1.19</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Automobile Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--AutomobileComponentsMember_zW3NCQyvscn5" title="Percentage of Investments at Fair Value">0.82</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Containers &amp; Packaging</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--ContainersAndPackagingMember_zD5cxyndPdba" title="Percentage of Investments at Fair Value">0.51</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td>Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--InsuranceMember_zAVSpz4LRld" title="Percentage of Investments at Fair Value">0.50</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Personal Care Products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--PersonalCareProductsMember_zSfGSLH3t9ug" title="Percentage of Investments at Fair Value">0.50</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Interactive Media &amp; Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--InteractiveMediaAndServicesMember_zEbDXLjji9Kk" title="Percentage of Investments at Fair Value">0.15</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Semiconductors &amp; Semiconductor Equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__us-gaap--EquitySecuritiesByIndustryAxis__custom--SemiconductorsAndSemiconductorEquipmentMember_z0LPiYmXp1B3" title="Percentage of Investments at Fair Value">0.04</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630_zH9O7Tjm63t6" title="Percentage of Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--SoftwareMember_zIQqsGcRJKib" title="Percentage of Investments at Fair Value">25.17</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Health Care Providers &amp; Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareProvidersAndServicesMember_zoLEKkZDZor" title="Percentage of Investments at Fair Value">11.26</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">IT Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ITServicesMember_zz02dm6v8w69" title="Percentage of Investments at Fair Value">9.21</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ProfessionalServicesMember_znN88RliUCw7" title="Percentage of Investments at Fair Value">8.93</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Capital Markets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--CapitalMarketsMember_zJvREWiqXsAh" title="Percentage of Investments at Fair Value">6.42</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Diversified Consumer Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--DiversifiedConsumerServicesMember_zRhS4UWAymGh" title="Percentage of Investments at Fair Value">5.19</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Trading Companies &amp; Distributors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--TradingCompaniesAndDistributorsMember_z8liEPqvXOG7" title="Percentage of Investments at Fair Value">4.55</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financial Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--FinancialServicesMember_zobB3Tg2OBG1" title="Percentage of Investments at Fair Value">4.34</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Electronic Equipment, Instruments &amp; Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectronicEquipmentInstrumentsAndComponentsMember_zlq3Ckvap5R4" title="Percentage of Investments at Fair Value">4.28</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commercial Services &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--CommercialServicesAndSuppliesMember_z4aK6ByJKHc" title="Percentage of Investments at Fair Value">3.34</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Electrical Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ElectricalEquipmentMember_zIQ4ZeyCpttg" title="Percentage of Investments at Fair Value">3.12</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--MachineryMember_zgtHpFgnlgzb" title="Percentage of Investments at Fair Value">2.90</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Building Products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--BuildingProductsMember_zQBXVJLKp9xi" title="Percentage of Investments at Fair Value">2.21</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial Conglomerates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--IndustrialConglomeratesMember_zi7MZx6eNOwa" title="Percentage of Investments at Fair Value">2.19</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Health Care Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareTechnologyMember_zrFQYpdTRoKi" title="Percentage of Investments at Fair Value">2.14</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Health Care Equipment &amp; Supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HealthCareEquipmentAndSuppliesMember_zyqgfyFSwy8b" title="Percentage of Investments at Fair Value">1.88</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Hotels, Restaurants &amp; Leisure</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--HotelsRestaurantsAndLeisureMember_zvx2j2HJJuI4" title="Percentage of Investments at Fair Value">1.39</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Automobile Components</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--AutomobileComponentsMember_ziSe0gXT6m32" title="Percentage of Investments at Fair Value">0.91</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Containers &amp; Packaging</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__us-gaap--EquitySecuritiesByIndustryAxis__custom--ContainersAndPackagingMember_zsMBluT2RXo9" title="Percentage of Investments at Fair Value">0.57</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231_zGhPUNwEkUt6" title="Percentage of Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> 0.2420 0.1055 0.1044 0.0814 0.0659 0.0515 0.0495 0.0458 0.0399 0.0365 0.0350 0.0263 0.0195 0.0186 0.0165 0.0124 0.0122 0.0119 0.0082 0.0051 0.0050 0.0050 0.0015 0.0004 1.0000 0.2517 0.1126 0.0921 0.0893 0.0642 0.0519 0.0455 0.0434 0.0428 0.0334 0.0312 0.0290 0.0221 0.0219 0.0214 0.0188 0.0139 0.0091 0.0057 1.0000 <table cellpadding="0" cellspacing="0" id="xdx_893_ecustom--ScheduleOfGeographicCompositionOfInvestmentsAtCostAndFairValue_pn3n3_z6OLFlDEws1c" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Investments (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B6_zBPJ3a1QPlrl" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of geographic composition of investments at cost and fair value</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Geographic</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total<br/> Investments at<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value<br/> as % of Net<br/> Assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">North America</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedAtCost_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_pn3n3" title="Amortized Cost">509,952</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedAtFairValue_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_pn3n3" title="Fair Value">505,997</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zWW8a1ug5MW1" title="% of Total Investments at Fair Value">97.20</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90F_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--NorthAmericaMember_z8XfzM7suV6d" title="Fair Value as % of Net Assets">160.33</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia - Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--InvestmentOwnedAtCost_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_pn3n3" title="Amortized Cost">14,393</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_pn3n3" title="Fair Value">14,574</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zx9ZXQtTwN4e" title="% of Total Investments at Fair Value">2.80</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20260630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zaXDoZE4yaM9" title="Fair Value as % of Net Assets">4.61</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260630_zd4C8ZTRaUOa" title="Amortized Cost">524,345</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20260630_z8jKvPLMqjh5" title="Fair Value">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20260630_zuJ9bsSCDNFl" title="% of Total Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20260630_zOiZFWelvud1" title="Fair Value as % of Net Assets">164.94</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Geographic</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">% of Total<br/> Investments at<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value<br/> as % of Net<br/> Assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">North America</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zr9P0INY39Jl" title="Amortized Cost">444,517</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zMf9on758Xea" title="Fair Value">446,164</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zif8425zQ9d8" title="% of Total Investments at Fair Value">97.34</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_903_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zZD4NLyQwT99" title="Fair Value as % of Net Assets">162.34</span></td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia - Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zj6usweXN6Hh" title="Amortized Cost">12,120</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zKGMX2vnK9Ul" title="Fair Value">12,182</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zdvb8IGbsQnf" title="% of Total Investments at Fair Value">2.66</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20251231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zJpIIS3P5Rm3" title="Fair Value as % of Net Assets">4.43</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231_zxGsxkDLwoml" title="Amortized Cost">456,637</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--InvestmentOwnedAtFairValue_iI_pn3n3_c20251231_zqqr3uC0NAP2" title="Fair Value">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--InvestmentOwnedPercentOfNetAssets_iI_pid_dp_c20251231_zNykBs34CaUg" title="% of Total Investments at Fair Value">100.00</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_ecustom--FairValueAsPercentageOfNetAssets_iI_pid_dp_c20251231_zXcVAOolin43" title="Fair Value as % of Net Assets">166.77</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td></tr> </table> 509952000 505997000 0.9720 1.6033 14393000 14574000 0.0280 0.0461 524345000 520571000 1.0000 1.6494 444517000 446164000 0.9734 1.6234 12120000 12182000 0.0266 0.0443 456637000 458346000 1.0000 1.6677 <p id="xdx_804_eus-gaap--FairValueDisclosuresTextBlock_zCJ8RsI2NX" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 5. <span id="xdx_82A_znCxi7C8exE3">Fair Value Measurement</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following tables present the fair value hierarchy of investments (excluding cash equivalents) as of June 30, 2026, and December 31, 2025, categorized by the ASC 820 valuation hierarchy, as previously described:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_pn3n3_zMqMLgW5Ei8g" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair Value Measurement (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_z2BBolZQ6007" style="display: none; text-align: left">Schedule of fair value hierarchy of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7010">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7012">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_908_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Total investment">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7018">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7020">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">486,556</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Total investment">486,556</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Common Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7026">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7028">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Total investment">125</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7034">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7036">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Total investment">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7042">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7044">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Total investment">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--Investments_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7050">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--Investments_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7052">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--Investments_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--Investments_c20260630_pn3n3" title="Total investment">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_905_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7058">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7060">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_908_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Total investment">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7066">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7068">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">433,567</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Total investment">433,567</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7074">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7076">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Total investment">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7082">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7084">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Total investment">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--Investments_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7090">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--Investments_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7092">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--Investments_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_900_eus-gaap--Investments_c20251231_pn3n3" title="Total investment">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zB7yM97L5Aqh" style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following tables present the change in the fair value of financial instruments for the three and six months ended June 30, 2026, and June 30, 2025, for which Level 3 inputs were used to determine the fair value:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock_pn3n3_zoBRVXVTXRF4" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair Value Measurement (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BF_zV3ka4Mu8US8" style="display: none">Schedule of fair value of financial instrunments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260401__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zw1k1fynhl9c" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20260401__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z6c4Uk6ISlll" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20260401__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z0ZLWQHt57wb" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20260401__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zWcLExSKueq1" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20260401__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zjxulGOjGtFf" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20260401__20260630_zZ0AACWoxda5" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Three Months Ended <br/> June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Asset Backed Securities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common<br/> Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Partnership</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 34%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">25,715</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">443,011</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,554</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7103">—</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,003</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">483,283</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PurchasesIncludingCapitalizedPik_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7107">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,774</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">142</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7111">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,041</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_i_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7114">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,191</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,435</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7117">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,307</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7123">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7124">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7125">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">235</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NetRealizedGainsLosses_i_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7128">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7131">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7132">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NetChangeInUnrealizedAppreciationDepreciation_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(673</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7138">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7139">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(708</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_i_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F4C_z2gPurDJf7x2">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7142">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7143">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7144">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7145">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7146">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7147">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F4B_zmh4Z3LJFpn8">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7149">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7150">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7151">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7152">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7153">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7154">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">25,760</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">486,556</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,190</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">125</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,940</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">520,571</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(562</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7166">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7167">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(527</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zU7WwVxw2POc" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zRCnovtlJrT3" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zSscXQKQIQr9" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20260101__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zaLW1rBAkjB5" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zWx1LtWXTrge" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20260101__20260630_zTbtrxRvIgX1" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Six Months Ended <br/> June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Asset Backed Securities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common<br/> Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Partnership</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3_zVoB6SpvfeQi" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 34%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">10,047</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">433,567</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,368</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7173">—</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,364</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">458,346</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PurchasesIncludingCapitalizedPik_zlNN5fRUZ5jj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,861</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68,908</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">328</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7181">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88,222</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_zghG4nEPjhR" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,328</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,069</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,435</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7187">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(330</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,162</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_zSZE8AG0eVUh" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">579</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7193">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7194">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7195">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--NetRealizedGainsLosses_ztYqctraA0Q1" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7201">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7202">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NetChangeInUnrealizedAppreciationDepreciation_zSzaKYe0ORsf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,493</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7208">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(94</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,483</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_zDRWnyrcK43l" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F49_zu4FR9lz7GXe">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7212">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7213">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7214">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7215">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7216">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7217">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_zFvear8LFNok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F47_zkdNpJB6F96g">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7219">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7220">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7221">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7222">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7223">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7224">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3_zJV4wiX4Rn8c" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">25,760</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">486,556</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,190</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">125</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,940</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">520,571</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_ztGx66w3bsIa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">185</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,270</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7236">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(94</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,190</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F0A_zZrMVvYxCVU4">(1)</sup></td><td id="xdx_F10_zlhhJ2Yskref" style="text-align: justify">For the three and six months ended June 30, 2026, there were no transfers into or out of Level 3.</td> </tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20250401__20250630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z74AgDfcmXrk" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250401__20250630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z2NcqpJCa9Nl" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20250401__20250630_zeTpxiKo8fGe" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Three Months Ended June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3_zZn3xugzdfRl" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">341,545</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,371</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">342,916</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PurchasesIncludingCapitalizedPik_zXPVM310Mgwh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,148</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,292</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_zLthnIh7Onuh" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,233</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7250">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,233</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_zqeSR7rRIVW2" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7254">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NetRealizedGainsLosses_zKSUd5Xfx7ka" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7258">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NetChangeInUnrealizedAppreciationDepreciation_zbSOXQTExpPk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(461</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(462</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_zyDwcuXMY0ue" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F45_zjhzrkifFPd2">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7265">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7266">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7267">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_zQjMyFxCZOm2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F46_zbHHcQdP3Tf4">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7269">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7270">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7271">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3_zkqjngrAiGhc" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">401,233</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,514</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">402,747</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_zoB7QojbsN3k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(461</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(462</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20250101__20250630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zItqZdlCXBGl" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20250630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zku2rr6Z5hug" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20250101__20250630_za1qo7aOHu2d" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Six Months Ended June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3_zozn7ixhzry2" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">327,122</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,343</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">328,465</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PurchasesIncludingCapitalizedPik_zVehvVEkGjcg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,620</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,764</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_zt5AT2YxhFm7" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,648</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7290">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,648</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_zOrmi8FG8zzi" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">687</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7294">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">687</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NetRealizedGainsLosses_zkasTswuQWHf" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7298">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--NetChangeInUnrealizedAppreciationDepreciation_zZlcQb5a42A4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(603</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(576</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_zVnyfWSiR7ga" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F46_zPKSlhUwCRLa">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7305">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7306">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7307">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_zOswOp8Iz1Mb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F4F_zC3LcEfBsZJl">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7309">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7310">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7311">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3_zObF4YuYFdhh" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">401,233</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,514</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">402,747</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_zHSZeY1rdted" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(603</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">27</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(576</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F0C_zTiM0iV0shMg">(1)</sup></td><td id="xdx_F1C_ziYCXXnSf2t5" style="text-align: justify">For the three and six months ended June 30, 2025, there were no transfers into or out of Level 3.</td> </tr></table> <p id="xdx_8A3_zn8ycB6Ta7w5" style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with ASC 820, the following tables provide quantitative information about the significant unobservable inputs of the Fund’s Level 3 investments as of June 30, 2026, and December 31, 2025. The tables are not intended to be all-inclusive but instead capture the significant unobservable inputs relevant to the Fund’s determination of fair value.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_pn3n3_zhPrOPRHzJG2" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair Value Measurement (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BA_zKNoM8nAsdqc" style="display: none; text-align: right">Schedule of significant unobservable inputs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Technique</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Unobservable </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Input</b></p></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range from</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range to</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Weighted Average<sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 16%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span id="xdx_901_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_z10S5mLLbLk1" title="Investment fair value">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_90B_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember" title="Valuation techniques">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_901_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember" title="Unobservable inputs">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z4axfv13lkc7" title="Investment fair value">341,917</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_905_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_90C_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--RangeFrom_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zplfmdWVwNc4" title="Range from">8.32</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--RangeTo_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zPqX0PssNi9b" title="Range to">20.57</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--WeightedAverageInputValue_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_fKDEp_zFyoUOC55F91" title="Weighted average">10.24</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zpaiPjVdjqs1" title="Investment fair value">(17</span></td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"><span id="xdx_902_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember" title="Valuation techniques">Market comparable companies</span></td><td> </td> <td style="text-align: left"><span id="xdx_90B_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember" title="Unobservable inputs">Enterprise value to EBITDA multiple</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--RangeFrom_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zQe4ZQVUFDt7" title="Range from">17.30</span></td><td style="white-space: nowrap; text-align: left">x</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--RangeTo_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_z5uwWAVhAqp1" title="Range to">17.30</span></td><td style="white-space: nowrap; text-align: left">x</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--WeightedAverageInputValue_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_fKDEp_zFuhBMcQsPrl" title="Weighted average">17.30</span></td><td style="white-space: nowrap; text-align: left">x</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_z25VGp3A1Ckd" title="Investment fair value">138,844</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_90B_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember" title="Valuation techniques">Broker Quotes</span></td><td> </td> <td style="text-align: left"><span id="xdx_902_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember" title="Unobservable inputs">Indicative quotes for an inactive market</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtThreeMember_zhuSlnTTFKJ" title="Investment fair value">5,812</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_906_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtThreeMember_zSeBnl7qPTp" title="Valuation techniques">Recent financing/transaction</span></td><td> </td> <td><span id="xdx_90F_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtThreeMember_zVwbO4JVPgna" title="Unobservable inputs">Recent transaction price</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--InvestmentFairValue_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Investment fair value">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_906_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zUZta55xgCI5" title="Valuation techniques">Recent financing/transaction</span></td><td> </td> <td><span id="xdx_90A_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zNTwjpiKZE91" title="Unobservable inputs">Recent transaction price</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zKxJQj3ntCF8" title="Investment fair value">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_907_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zG6ItbJdsaI5" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_90D_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zlqZI8nwi4Te" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--RangeFrom_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z8LJZGvYyVM5" title="Range from">13.19</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--RangeTo_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zoniDLJ1rHPb" title="Range to">13.19</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--WeightedAverageInputValue_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_fKDEp_zt1hpFYP6Uhh" title="Weighted average">13.19</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zvWgajby1HS5" title="Investment fair value">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_90E_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zcApQEKY0k85" title="Valuation techniques">Adjusted reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_904_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zqSNu5lXtvN5" title="Unobservable inputs">Reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">N/A</p></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">N/A</p></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">N/A</p></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_901_ecustom--InvestmentFairValue_iI_pn3n3_c20260630_zlr6dIJe3pBd" title="Investment fair value">520,571</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Technique</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Unobservable </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Input</b></p></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range from</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range to</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Weighted Average<sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 16%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span id="xdx_90C_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zdLSxWnN7LKe" title="Investment fair value">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_902_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zvU5kRi25yHb" title="Valuation techniques">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_909_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_z5LUTg1KKXC5" title="Unobservable inputs">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zQGGNyaHGAd" title="Investment fair value">315,113</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_904_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zupl4GcqJCI3" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_908_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_ze6BiYMkGl0f" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--RangeFrom_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zcbqcNRNF1m1" title="Range from">7.87</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--RangeTo_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zWV5BnT744hb" title="Range to">14.56</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--WeightedAverageInputValue_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_fKDEp_zLm0y1bl518g" title="Weighted average">9.35</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zFegeqMa3Klj" title="Investment fair value">118,296</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_90F_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zVGIxHcodKM4" title="Valuation techniques">Broker Quotes</span></td><td> </td> <td style="text-align: left"><span id="xdx_90C_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zwmTeHfy9SW8" title="Unobservable inputs">Indicative quotes for an inactive market</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_zF2gbpU2Vued" title="Investment fair value">158</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_90E_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_zWcRC86vPXWe" title="Valuation techniques">Recent financing/transaction</span></td><td> </td> <td><span id="xdx_901_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_zRJTtx7di96j" title="Unobservable inputs">Recent transaction price</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zCiRpJUNxBLa" title="Investment fair value">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_906_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z71ZW8lwqgOd" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_907_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zXwHgRaabtQ7" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--RangeFrom_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zHNNOc430ckf" title="Range from">12.52</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--RangeTo_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zShbAeJHVJEf" title="Range to">13.76</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--WeightedAverageInputValue_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_fKDEp_zuQnLeExJjRa" title="Weighted average">13.48</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zrd5Yn021Eo7" title="Investment fair value">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_903_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zftWQzMG6CLj" title="Valuation techniques">Adjusted reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_90B_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_z6nM6jepo717" title="Unobservable inputs">Reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90C_ecustom--InvestmentFairValue_iI_pn3n3_c20251231_zlxOlXBsdkGc" title="Investment fair value">458,346</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F03_zhRAfdpyUIL9">(1)</sup></td><td id="xdx_F1A_zOQxGNTah4ud" style="text-align: justify">Weighted averages are calculated based on fair value of investments.</td> </tr></table> <p id="xdx_8AF_zQGOs26MEGll" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund used the income approach to determine the fair value of certain Level 3 assets as of June 30, 2026, and December 31, 2025. The significant unobservable inputs used in the income approach are the comparative yield and discount rate. The comparative yield and discount rate is used to discount the estimated future cash flows expected to be received from the underlying investment. An increase/decrease in the comparative yield or discount rate would result in a decrease/increase, respectively, in the fair value.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><i>Financial Instruments Disclosed, But Not Carried, At Fair Value </i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying values of the debt obligations (Note 6) generally approximate their respective fair values due to their variable interest rates. The fair value of these debt obligations would be categorized as Level 2 under the ASC 820 hierarchy. The carrying value of other financial assets and liabilities approximates their fair value based on the short-term nature of these items.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_pn3n3_zMqMLgW5Ei8g" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair Value Measurement (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_z2BBolZQ6007" style="display: none; text-align: left">Schedule of fair value hierarchy of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7010">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7012">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_908_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Total investment">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7018">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7020">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">486,556</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Total investment">486,556</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Common Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7026">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7028">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Total investment">125</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7034">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7036">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Total investment">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7042">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7044">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_eus-gaap--Investments_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Total investment">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--Investments_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7050">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--Investments_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7052">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--Investments_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--Investments_c20260630_pn3n3" title="Total investment">520,571</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_905_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7058">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7060">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_908_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_pn3n3" title="Total investment">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7066">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7068">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">433,567</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_pn3n3" title="Total investment">433,567</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7074">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7076">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_pn3n3" title="Total investment">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90F_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7082">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7084">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--Investments_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_pn3n3" title="Total investment">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--Investments_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7090">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--Investments_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pn3n3" title="Total investment"><span style="-sec-ix-hidden: xdx2ixbrl7092">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--Investments_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pn3n3" title="Total investment">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_900_eus-gaap--Investments_c20251231_pn3n3" title="Total investment">458,346</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 25760000 25760000 486556000 486556000 125000 125000 1190000 1190000 6940000 6940000 520571000 520571000 10047000 10047000 433567000 433567000 7368000 7368000 7364000 7364000 458346000 458346000 <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock_pn3n3_zoBRVXVTXRF4" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair Value Measurement (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BF_zV3ka4Mu8US8" style="display: none">Schedule of fair value of financial instrunments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260401__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zw1k1fynhl9c" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20260401__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z6c4Uk6ISlll" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20260401__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z0ZLWQHt57wb" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20260401__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zWcLExSKueq1" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20260401__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zjxulGOjGtFf" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20260401__20260630_zZ0AACWoxda5" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Three Months Ended <br/> June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Asset Backed Securities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common<br/> Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Partnership</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 34%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">25,715</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">443,011</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,554</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7103">—</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,003</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">483,283</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PurchasesIncludingCapitalizedPik_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7107">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,774</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">142</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7111">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,041</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_i_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7114">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,191</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,435</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7117">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,307</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7123">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7124">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7125">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">235</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NetRealizedGainsLosses_i_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7128">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7131">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7132">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NetChangeInUnrealizedAppreciationDepreciation_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(673</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7138">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7139">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(708</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_i_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F4C_z2gPurDJf7x2">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7142">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7143">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7144">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7145">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7146">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7147">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F4B_zmh4Z3LJFpn8">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7149">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7150">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7151">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7152">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7153">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7154">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">25,760</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">486,556</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,190</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">125</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,940</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">520,571</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(562</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7166">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7167">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(527</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zU7WwVxw2POc" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zRCnovtlJrT3" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zSscXQKQIQr9" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20260101__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zaLW1rBAkjB5" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zWx1LtWXTrge" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20260101__20260630_zTbtrxRvIgX1" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Six Months Ended <br/> June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Asset Backed Securities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common<br/> Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Partnership</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3_zVoB6SpvfeQi" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 34%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">10,047</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">433,567</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,368</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7173">—</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">7,364</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">458,346</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PurchasesIncludingCapitalizedPik_zlNN5fRUZ5jj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,861</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68,908</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">328</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7181">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88,222</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_zghG4nEPjhR" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,328</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,069</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,435</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7187">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(330</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,162</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_zSZE8AG0eVUh" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">579</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7193">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7194">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7195">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--NetRealizedGainsLosses_ztYqctraA0Q1" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7201">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7202">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NetChangeInUnrealizedAppreciationDepreciation_zSzaKYe0ORsf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,493</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7208">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(94</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,483</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_zDRWnyrcK43l" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F49_zu4FR9lz7GXe">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7212">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7213">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7214">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7215">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7216">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7217">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_zFvear8LFNok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F47_zkdNpJB6F96g">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7219">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7220">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7221">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7222">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7223">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7224">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3_zJV4wiX4Rn8c" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">25,760</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">486,556</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,190</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">125</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,940</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">520,571</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_ztGx66w3bsIa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">185</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,270</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7236">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(94</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,190</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F0A_zZrMVvYxCVU4">(1)</sup></td><td id="xdx_F10_zlhhJ2Yskref" style="text-align: justify">For the three and six months ended June 30, 2026, there were no transfers into or out of Level 3.</td> </tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20250401__20250630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z74AgDfcmXrk" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250401__20250630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z2NcqpJCa9Nl" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20250401__20250630_zeTpxiKo8fGe" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Three Months Ended June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3_zZn3xugzdfRl" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">341,545</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,371</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">342,916</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PurchasesIncludingCapitalizedPik_zXPVM310Mgwh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,148</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,292</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_zLthnIh7Onuh" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,233</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7250">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,233</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_zqeSR7rRIVW2" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7254">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NetRealizedGainsLosses_zKSUd5Xfx7ka" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7258">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NetChangeInUnrealizedAppreciationDepreciation_zbSOXQTExpPk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(461</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(462</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_zyDwcuXMY0ue" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F45_zjhzrkifFPd2">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7265">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7266">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7267">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_zQjMyFxCZOm2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F46_zbHHcQdP3Tf4">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7269">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7270">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7271">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3_zkqjngrAiGhc" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">401,233</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,514</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">402,747</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_zoB7QojbsN3k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(461</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(462</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20250101__20250630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zItqZdlCXBGl" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20250630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zku2rr6Z5hug" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20250101__20250630_za1qo7aOHu2d" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">For the Six Months Ended June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Senior Secured Debt</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred Equity</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Investments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_ecustom--InvestmentsOwnedAtFairValue_iS_pn3n3_zozn7ixhzry2" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 55%">Fair value, beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">327,122</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,343</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">328,465</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PurchasesIncludingCapitalizedPik_zVehvVEkGjcg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchases, including capitalized PIK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,620</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,764</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ProceedsFromSalesOfInvestmentsAndPrincipalRepayments_zt5AT2YxhFm7" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Proceeds from sales of investments and principal repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,648</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7290">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,648</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_zOrmi8FG8zzi" style="vertical-align: bottom; background-color: White"> <td>Accretion of discount/amortization of premium</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">687</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7294">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">687</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NetRealizedGainsLosses_zkasTswuQWHf" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Net realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7298">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--NetChangeInUnrealizedAppreciationDepreciation_zZlcQb5a42A4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(603</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(576</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_zVnyfWSiR7ga" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Transfers into Level 3 <sup id="xdx_F46_zPKSlhUwCRLa">(1)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7305">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7306">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7307">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_zOswOp8Iz1Mb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-size: 11pt">Transfers out of Level 3 <sup id="xdx_F4F_zC3LcEfBsZJl">(1)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7309">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7310">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7311">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--InvestmentsOwnedAtFairValue_iE_pn3n3_zObF4YuYFdhh" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; padding-bottom: 1pt">Fair value, end of period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">401,233</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,514</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">402,747</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NetChangeInUnrealizedAppreciationDepreciationRelatedToFinancialInstrumentsStillHeld_zHSZeY1rdted" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in unrealized appreciation (depreciation) related to financial instruments still held as of June 30, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(603</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">27</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(576</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F0C_zTiM0iV0shMg">(1)</sup></td><td id="xdx_F1C_ziYCXXnSf2t5" style="text-align: justify">For the three and six months ended June 30, 2025, there were no transfers into or out of Level 3.</td> </tr></table> 25715000 443011000 7554000 7003000 483283000 39774000 142000 125000 40041000 4191000 -6435000 -63000 -2307000 -1000 236000 235000 17000 10000 27000 46000 -673000 -81000 -708000 25760000 486556000 1190000 125000 6940000 520571000 46000 -562000 -11000 -527000 10047000 433567000 7368000 7364000 458346000 18861000 68908000 328000 125000 88222000 -3328000 -11069000 -6435000 -330000 -21162000 -2000 579000 577000 -3000 64000 10000 71000 185000 -5493000 -81000 -94000 -5483000 25760000 486556000 1190000 125000 6940000 520571000 185000 -5270000 -11000 -94000 -5190000 341545000 1371000 342916000 62148000 144000 62292000 -2233000 -2233000 218000 218000 16000 16000 -461000 -1000 -462000 401233000 1514000 402747000 -461000 -1000 -462000 327122000 1343000 328465000 91620000 144000 91764000 -17648000 -17648000 687000 687000 55000 55000 -603000 27000 -576000 401233000 1514000 402747000 -603000 27000 -576000 <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_pn3n3_zhPrOPRHzJG2" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair Value Measurement (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BA_zKNoM8nAsdqc" style="display: none; text-align: right">Schedule of significant unobservable inputs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Technique</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Unobservable </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Input</b></p></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range from</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range to</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Weighted Average<sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 16%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span id="xdx_901_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_z10S5mLLbLk1" title="Investment fair value">25,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_90B_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember" title="Valuation techniques">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_901_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember" title="Unobservable inputs">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_z4axfv13lkc7" title="Investment fair value">341,917</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_905_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_90C_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--RangeFrom_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zplfmdWVwNc4" title="Range from">8.32</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--RangeTo_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zPqX0PssNi9b" title="Range to">20.57</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--WeightedAverageInputValue_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_fKDEp_zFyoUOC55F91" title="Weighted average">10.24</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zpaiPjVdjqs1" title="Investment fair value">(17</span></td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"><span id="xdx_902_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember" title="Valuation techniques">Market comparable companies</span></td><td> </td> <td style="text-align: left"><span id="xdx_90B_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember" title="Unobservable inputs">Enterprise value to EBITDA multiple</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--RangeFrom_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zQe4ZQVUFDt7" title="Range from">17.30</span></td><td style="white-space: nowrap; text-align: left">x</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--RangeTo_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_z5uwWAVhAqp1" title="Range to">17.30</span></td><td style="white-space: nowrap; text-align: left">x</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--WeightedAverageInputValue_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_fKDEp_zFuhBMcQsPrl" title="Weighted average">17.30</span></td><td style="white-space: nowrap; text-align: left">x</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_z25VGp3A1Ckd" title="Investment fair value">138,844</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_90B_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember" title="Valuation techniques">Broker Quotes</span></td><td> </td> <td style="text-align: left"><span id="xdx_902_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember" title="Unobservable inputs">Indicative quotes for an inactive market</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtThreeMember_zhuSlnTTFKJ" title="Investment fair value">5,812</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_906_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtThreeMember_zSeBnl7qPTp" title="Valuation techniques">Recent financing/transaction</span></td><td> </td> <td><span id="xdx_90F_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtThreeMember_zVwbO4JVPgna" title="Unobservable inputs">Recent transaction price</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--InvestmentFairValue_c20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_pn3n3" title="Investment fair value">125</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_906_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zUZta55xgCI5" title="Valuation techniques">Recent financing/transaction</span></td><td> </td> <td><span id="xdx_90A_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--CommonEquityMember_zNTwjpiKZE91" title="Unobservable inputs">Recent transaction price</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zKxJQj3ntCF8" title="Investment fair value">1,190</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_907_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zG6ItbJdsaI5" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_90D_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zlqZI8nwi4Te" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--RangeFrom_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z8LJZGvYyVM5" title="Range from">13.19</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--RangeTo_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zoniDLJ1rHPb" title="Range to">13.19</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--WeightedAverageInputValue_pid_dp_c20260101__20260630__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_fKDEp_zt1hpFYP6Uhh" title="Weighted average">13.19</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--InvestmentFairValue_iI_pn3n3_c20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zvWgajby1HS5" title="Investment fair value">6,940</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_90E_ecustom--ValuationTechniques_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zcApQEKY0k85" title="Valuation techniques">Adjusted reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_904_ecustom--UnobservableInputs_c20260101__20260630__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zqSNu5lXtvN5" title="Unobservable inputs">Reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">N/A</p></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">N/A</p></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">N/A</p></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_901_ecustom--InvestmentFairValue_iI_pn3n3_c20260630_zlr6dIJe3pBd" title="Investment fair value">520,571</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Technique</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Unobservable </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Input</b></p></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range from</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range to</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Weighted Average<sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 16%; text-align: left">Asset Backed Securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><span id="xdx_90C_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zdLSxWnN7LKe" title="Investment fair value">10,047</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_902_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_zvU5kRi25yHb" title="Valuation techniques">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 19%"><span id="xdx_909_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--AssetBackedSecuritiesMember_z5LUTg1KKXC5" title="Unobservable inputs">Reported fair value</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zQGGNyaHGAd" title="Investment fair value">315,113</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_904_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zupl4GcqJCI3" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_908_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_ze6BiYMkGl0f" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--RangeFrom_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zcbqcNRNF1m1" title="Range from">7.87</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--RangeTo_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_zWV5BnT744hb" title="Range to">14.56</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--WeightedAverageInputValue_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtMember_fKDEp_zLm0y1bl518g" title="Weighted average">9.35</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zFegeqMa3Klj" title="Investment fair value">118,296</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_90F_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zVGIxHcodKM4" title="Valuation techniques">Broker Quotes</span></td><td> </td> <td style="text-align: left"><span id="xdx_90C_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtOneMember_zwmTeHfy9SW8" title="Unobservable inputs">Indicative quotes for an inactive market</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_zF2gbpU2Vued" title="Investment fair value">158</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_90E_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_zWcRC86vPXWe" title="Valuation techniques">Recent financing/transaction</span></td><td> </td> <td><span id="xdx_901_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--SeniorSecuredDebtTwoMember_zRJTtx7di96j" title="Unobservable inputs">Recent transaction price</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Preferred Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zCiRpJUNxBLa" title="Investment fair value">7,368</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"><span id="xdx_906_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_z71ZW8lwqgOd" title="Valuation techniques">Discounted cash flow</span></td><td> </td> <td style="text-align: left"><span id="xdx_907_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zXwHgRaabtQ7" title="Unobservable inputs">Discount factor</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--RangeFrom_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zHNNOc430ckf" title="Range from">12.52</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--RangeTo_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_zShbAeJHVJEf" title="Range to">13.76</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--WeightedAverageInputValue_pid_dp_c20250101__20251231__us-gaap--LienCategoryAxis__custom--PreferredEquityMember_fKDEp_zuQnLeExJjRa" title="Weighted average">13.48</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> Partnership</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_ecustom--InvestmentFairValue_iI_pn3n3_c20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zrd5Yn021Eo7" title="Investment fair value">7,364</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_903_ecustom--ValuationTechniques_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_zftWQzMG6CLj" title="Valuation techniques">Adjusted reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt"><span id="xdx_90B_ecustom--UnobservableInputs_c20250101__20251231__us-gaap--LienCategoryAxis__us-gaap--PartnershipMember_z6nM6jepo717" title="Unobservable inputs">Reported net asset value</span></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-size: 11pt">N/A</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90C_ecustom--InvestmentFairValue_iI_pn3n3_c20251231_zlxOlXBsdkGc" title="Investment fair value">458,346</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F03_zhRAfdpyUIL9">(1)</sup></td><td id="xdx_F1A_zOQxGNTah4ud" style="text-align: justify">Weighted averages are calculated based on fair value of investments.</td> </tr></table> 25760000 Reported fair value Reported fair value 341917000 Discounted cash flow Discount factor 0.0832 0.2057 0.1024 -17000 Market comparable companies Enterprise value to EBITDA multiple 0.1730 0.1730 0.1730 138844000 Broker Quotes Indicative quotes for an inactive market 5812000 Recent financing/transaction Recent transaction price 125000 Recent financing/transaction Recent transaction price 1190000 Discounted cash flow Discount factor 0.1319 0.1319 0.1319 6940000 Adjusted reported net asset value Reported net asset value 520571000 10047000 Reported fair value Reported fair value 315113000 Discounted cash flow Discount factor 0.0787 0.1456 0.0935 118296000 Broker Quotes Indicative quotes for an inactive market 158000 Recent financing/transaction Recent transaction price 7368000 Discounted cash flow Discount factor 0.1252 0.1376 0.1348 7364000 Adjusted reported net asset value Reported net asset value 458346000 <p id="xdx_80F_eus-gaap--DebtDisclosureTextBlock_z5xeHgteiMDa" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 6. <span id="xdx_82B_zidlXio7wVf4">Debt</span> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The following tables present the Fund’s outstanding debt as of June 30, 2026, and December 31, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfDebtTableTextBlock_pn3n3_z7T5ZsZgVcW6" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details)"> <tr style="vertical-align: bottom"> <td id="xdx_8BE_zx77Gn20Itaj" style="display: none">Schedule of outstanding debt</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Principal<br/> Amount<br/> Committed</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal Amount <br/> Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Carrying<br/> Value <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Fair Value <sup>(2)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_904_ecustom--TotalPrincipalAmountCommitted_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--LongTermDebt_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Principal Amount Outstanding">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_908_ecustom--CarryingValueDebt_iI_pn3n3_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDEp_zgZbnZpWNe42" title="Carrying Value">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDIp_zuLtivjIdn7k" title="Fair Value">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Debt</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_909_ecustom--TotalPrincipalAmountCommitted_c20260630_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--LongTermDebt_c20260630_pn3n3" title="Principal Amount Outstanding">214,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_901_ecustom--CarryingValueDebt_iI_pn3n3_c20260630_fKDEp_zqGha4GYE7Jd" title="Carrying Value">214,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20260630_fKDIp_zPrc9IhHCjC4" title="Fair Value">214,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Principal<br/> Amount<br/> Committed</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal Amount<br/> Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Carrying<br/> Value <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Fair Value <sup>(2)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_903_ecustom--TotalPrincipalAmountCommitted_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90D_eus-gaap--LongTermDebt_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Principal Amount Outstanding">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_906_ecustom--CarryingValueDebt_iI_pn3n3_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDEp_z1JQG7A1PO9j" title="Carrying Value">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDIp_zX87bwgz4Csj" title="Fair Value">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Debt</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_906_ecustom--TotalPrincipalAmountCommitted_c20251231_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--LongTermDebt_c20251231_pn3n3" title="Principal Amount Outstanding">226,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90C_ecustom--CarryingValueDebt_iI_pn3n3_c20251231_fKDEp_z1dVfqHyRT5d" title="Carrying Value">226,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20251231_fKDIp_zshaou16KMed" title="Fair Value">226,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F05_zESvjB8tNEt">(1)</sup></td><td id="xdx_F1E_z1R1T4vZwX2i" style="text-align: justify">Carrying value of these debt obligations generally approximate fair value due to their variable interest rates.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F05_zL7kKbrKinM">(2)</sup></td><td id="xdx_F1B_zdQPcJNlxP1b" style="text-align: justify">The fair value of these debt obligations would be categorized as Level 2 under ASC 820-10.</td> </tr></table> <p id="xdx_8AF_zMuWBGBsaTF3" style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">A summary of contractual maturities of our debt obligations was as follows as of June 30, 2026, and December 31, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_896_esrt--ContractualObligationFiscalYearMaturityScheduleTableTextBlock_ztHwfAVOvXq4" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details 1)"> <tr style="vertical-align: bottom"> <td id="xdx_8B5_zmQCE9rg150l" style="display: none">Schedule of contractual maturities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1-3 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">3-5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">More than 5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_904_eus-gaap--ContractualObligation_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Debt Obligations">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_902_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Less than 1 year">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_901_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7487">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7489">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_901_eus-gaap--ContractualObligationDueAfterFifthYear_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7491">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Debt Obligations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--ContractualObligation_c20260630_pn3n3" title="Total Debt Obligations">214,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20260630_pn3n3" title="Less than 1 year">214,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20260630_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7497">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20260630_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7499">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_900_eus-gaap--ContractualObligationDueAfterFifthYear_c20260630_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7501">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1-3 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">3-5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">More than 5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90A_eus-gaap--ContractualObligation_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Debt Obligations">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_907_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Less than 1 year">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7507">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90E_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7509">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--ContractualObligationDueAfterFifthYear_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7511">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Debt Obligations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--ContractualObligation_c20251231_pn3n3" title="Total Debt Obligations">226,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20251231_pn3n3" title="Less than 1 year">226,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20251231_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7517">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20251231_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7519">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--ContractualObligationDueAfterFifthYear_c20251231_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7521">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zv4EiiYIUU0h" style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>NatWest Credit Facility</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following wholly-owned subsidiaries of Partners Group Lending Fund, LLC have entered into secured financing facilities as of June 30, 2026: Partners Group BDC Finance I, LLC and Partners Group Revolver Pooling BDC, LLC each, a special purpose vehicle (“SPV”) and collectively, the (“SPVs”). </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 14, 2024, the (“SPVs”) entered into a senior secured revolving credit agreement (as amended, the “NatWest Credit Agreement” or “NatWest Credit Facility”) as Borrowers, with Partners Group Lending Fund, LLC, as Parent, State Street Bank and Trust Company (“State Street”), as Facility Agent and Collateral Agent, and NatWest Markets Plc ("NatWest") as Arranger and Lender. The original facility amount under the NatWest Credit Agreement was $<span id="xdx_90A_ecustom--OriginalFacilityAmount_iI_pn3n3_dm_c20240214__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zt26npSCfxA8" title="Original facility amount">175.0</span> million. On May 7, 2024, the Fund entered into Amendment No.1 to the NatWest Credit Agreement. Under Amendment No. 1 the total facility amount under the NatWest Credit Facility was increased to $<span id="xdx_907_ecustom--OriginalFacilityAmount_iI_pn3n3_dm_c20240507__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zkkzcuWeqR48" title="Original facility amount">275</span> million. On January 14, 2025, the Fund entered into Amendment No. 2 to the NatWest Credit Agreement, to, among other things, amend the applicable margins of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateTerms_c20250101__20250114__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zFCrrIYgKbz4" title="Interest rate description">(1) EUR borrowings from 2.55% to 2.30% per annum, (2) GBP borrowings from 2.65% to 2.30% per annum, (3) USD borrowings</span> from 2.85% to 2.40% per annum, (4) CAD borrowings from 3.15% to 2.70% per annum, and (5) AUD borrowings from 3.00% to 2.70% per annum. On November 26, 2025, the Fund entered into Amendment No. 3 to the NatWest Credit Agreement, to, among other things, amend the applicable margins of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateTerms_c20251101__20251126__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_znzUNB538jsk" title="Interest rate description">(1) EUR borrowings from 2.30% to 2.10% per annum, (2) GBP borrowings from 2.30% to 2.10% per annum, (3) USD borrowings</span> from 2.40% to 2.10% per annum, (4) CAD borrowings from 2.70% to 2.10% per annum, and (5) AUD borrowings from 2.70% to 2.10% per annum. The NatWest Credit Facility includes customary affirmative and negative covenants, including certain limitations on the incurrence of additional indebtedness and liens, as well as usual and customary events of default for revolving credit facilities of this nature. As of June 30, 2026 and December 31, 2025, the Fund was in compliance with all covenants and other requirements of the NatWest Credit Facility.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateTerms_c20260101__20261231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zXvmnFjsUXo" title="Interest rate description">Advances under the NatWest Credit Facility bear interest at a per annum rate equal to, in the case of U.S. Dollar advances, SOFR, and in the case of foreign currency advances, the applicable benchmark in effect for the currency plus an applicable margin of 2.10%. The Fund pays an unused commitment fee of 80 basis points (0.80%) per annum if the unused amount is greater than 50% of the facility amount, 70 basis points (0.70%) per annum if the unused amount is between 30% and 50% of the facility amount, and 65 basis points (0.65%) per annum if the unused amount is less than or equal to 30% of the facility amount. The stated maturity date is November 26, 2036.</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2026, and December 31, 2025, there were $<span id="xdx_905_eus-gaap--DebtCurrent_iI_pn3n3_dm_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zc8e8aCDlj39" title="Debt outstanding">214</span> million and $<span id="xdx_90D_eus-gaap--DebtCurrent_iI_pn3n3_dm_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_z8c6hQBD4Whl" title="Debt outstanding">226</span> million of borrowings outstanding under the NatWest Credit Facility, respectively. The components of interest expense related to the NatWest Credit Facility was as follows:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--InterestIncomeAndInterestExpenseDisclosureTableTextBlock_hus-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zgzQWqgGW1Z9" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_zIJthk8ayE0l" style="display: none; text-align: left">Schedule of interest expense related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_903_ecustom--BorrowingInterestExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zUcml0kRGdyh" title="Borrowing interest expense">3,139</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_ecustom--BorrowingInterestExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zOqeukoOX399" title="Borrowing interest expense">6,486</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zg9HVZm2Qse" title="Commitment and Facility fees">123</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zYbS5Rf7Yri4" title="Commitment and Facility fees">221</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zjGKvSANuQTl" title="Amortization of deferred financing costs">72</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zGaA5GMraxXk" title="Amortization of deferred financing costs">154</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--InterestAndDebtExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_z78qUMSvy47" title="Total interest and debt financing expense">3,334</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--InterestAndDebtExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zjW88o6iZmuj" title="Total interest and debt financing expense">6,861</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_902_ecustom--BorrowingInterestExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zUEKYe9HRq2l" title="Borrowing interest expense">3,388</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_906_ecustom--BorrowingInterestExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zaqT3GzujzTg" title="Borrowing interest expense">6,446</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zrLv3ZCpMqjd" title="Commitment and Facility fees">151</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zGeRQJloiOA9" title="Commitment and Facility fees">345</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_z2P2QDYcffBg" title="Amortization of deferred financing costs">89</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zLb69pFNh0l2" title="Amortization of deferred financing costs">177</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_900_eus-gaap--InterestAndDebtExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zjCcxJhnE5r" title="Total interest and debt financing expense">3,628</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90F_eus-gaap--InterestAndDebtExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zm9RuEjjXD32" title="Total interest and debt financing expense">6,968</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A4_z7RzqgkL5CVd" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the three and six months ended June 30, 2026, the Fund had total average debt of $<span id="xdx_903_eus-gaap--LongTermDebtAverageAmountOutstanding_pn3n3_dm_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_z1WoVfNRq59f" title="Total average debt">215</span> million and $<span id="xdx_901_eus-gaap--LongTermDebtAverageAmountOutstanding_pn3n3_dm_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zEqkUGIQlrc9" title="Total average debt">223</span> million at a weighted average interest rate of <span id="xdx_902_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zVJO12D2iPZk" title="Weighted average interest rate">5.85%</span> and <span id="xdx_90F_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zU7dzCORd7q6" title="Weighted average interest rate">5.88%</span>, respectively. For the three and six months ended June 30, 2025, the Fund had total average debt of $<span id="xdx_902_eus-gaap--LongTermDebtAverageAmountOutstanding_pn3n3_dm_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_znzHCKLALw7l" title="Total average debt">200.6</span> million and $<span id="xdx_908_eus-gaap--LongTermDebtAverageAmountOutstanding_pn3n3_dm_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zU3Jzfj42Nub" title="Total average debt">189.6</span> million at a weighted average interest rate of <span id="xdx_906_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_z6rzgF84Lydg" title="Weighted average interest rate">6.78%</span> and <span id="xdx_907_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zdIfYUvOjcfl" title="Weighted average interest rate">6.86%</span>, respectively.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>MUFG Credit Facility</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 22, 2023, the Fund entered into credit facility agreement (the "MUFG Credit Facility") as Borrower, with Standard Chartered Bank, as Agent, Partners Group Access Finance Limited, as Obligors' Agent, and MUFG Bank Ltd., as Lender. The facility amount under the MUFG Credit Facility is $<span id="xdx_90A_ecustom--OriginalFacilityAmount_iI_pn3n3_dm_c20230922__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zKAtXpvjNuHi" title="Original facility amount">80.0</span> million. The MUFG Credit Facility includes customary affirmative and negative covenants, including certain limitations on the incurrence of additional indebtedness and liens, as well as usual and customary events of default for revolving credit facilities of this nature.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_907_eus-gaap--DebtInstrumentInterestRateTerms_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zuviJSo2Ovck" title="Interest rate description">Advances under the MUFG Credit Facility bear interest at a per annum rate equal to 2.05%. The Fund pays commitment fee of 30 basis points (0.30%) per annum. The stated maturity date is September 20, 2024. In September 2024, the MUFG Credit Facility was repaid in full using available cash at the Fund and through drawdowns on the available Capital Commitments of the Fund. On May 21, 2025, the MUFG Credit Facility was terminated in full.</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2026 and December 31, 2025, there were $<span id="xdx_909_eus-gaap--DebtCurrent_c20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_pn3n3" title="Debt outstanding">0</span> and $<span id="xdx_90A_eus-gaap--DebtCurrent_c20251231__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_pn3n3" title="Debt outstanding">0</span> of borrowings outstanding under the MUFG Credit Facility, respectively. The components of interest expense related to the MUFG Credit Facility was as follows:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--InterestIncomeAndInterestExpenseDisclosureTableTextBlock_hus-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zUJxDUIYTfb5" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B6_zETGSolRHIu9" style="display: none; text-align: left">Schedule of interest expense related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_ecustom--BorrowingInterestExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zfSvbo6WBmEe" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7597">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 12%; font-weight: bold; text-align: right"><span id="xdx_904_ecustom--BorrowingInterestExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zPJtpa3h1hMg" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7599">—</span></span></td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z6mluoGqgnIc" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7601">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zsJaan73uKPi" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7603">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z33rWDkebHG8" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7605">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zeCh6n1eZ4T4" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7607">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--InterestAndDebtExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z27GXiTnvC5i" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7609">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--InterestAndDebtExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zJOguBUBnyCf" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7611">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_ecustom--BorrowingInterestExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zCFacjtoBRWl" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7613">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 12%; font-weight: bold; text-align: right"><span id="xdx_905_ecustom--BorrowingInterestExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zzd0AeDTUVIf" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7615">—</span></span></td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zAm2DmWucnl8" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7617">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zX06FW2iS6s9" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7619">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zqJCOqA6eT9a" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7621">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z1KkUJhKU321" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7623">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--InterestAndDebtExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zM1WJuDENTYk" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7625">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--InterestAndDebtExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zwXWdao8eFbj" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7627">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zMocYTDAztla" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the three and six months ended June 30, 2026, the Fund had total average debt of $<span id="xdx_907_eus-gaap--LongTermDebtAverageAmountOutstanding_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_pn3n3" title="Total average debt">0</span> million and $<span id="xdx_902_eus-gaap--LongTermDebtAverageAmountOutstanding_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_pn3n3" title="Total average debt">0</span> million at a weighted average interest rate of <span id="xdx_900_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zlIdnGssvvV7" title="Weighted average interest rate">0%</span> and <span id="xdx_90C_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_ziU9tP0Rs0ak" title="Weighted average interest rate">0%</span>, respectively. For the three and six months ended June 30, 2025, the Fund had total average debt of $<span id="xdx_901_eus-gaap--LongTermDebtAverageAmountOutstanding_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_pn3n3" title="Total average debt">0</span> million and $<span id="xdx_90D_eus-gaap--LongTermDebtAverageAmountOutstanding_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_pn3n3" title="Total average debt">0</span> at a weighted average interest rate of <span id="xdx_907_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zWg5qmZfbye9" title="Weighted average interest rate">0%</span> and <span id="xdx_901_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_pid_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zTpUIZwtok5l" title="Weighted average interest rate">0%</span>, respectively.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfDebtTableTextBlock_pn3n3_z7T5ZsZgVcW6" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details)"> <tr style="vertical-align: bottom"> <td id="xdx_8BE_zx77Gn20Itaj" style="display: none">Schedule of outstanding debt</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Principal<br/> Amount<br/> Committed</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal Amount <br/> Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Carrying<br/> Value <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Fair Value <sup>(2)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_904_ecustom--TotalPrincipalAmountCommitted_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--LongTermDebt_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Principal Amount Outstanding">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_908_ecustom--CarryingValueDebt_iI_pn3n3_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDEp_zgZbnZpWNe42" title="Carrying Value">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDIp_zuLtivjIdn7k" title="Fair Value">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Debt</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_909_ecustom--TotalPrincipalAmountCommitted_c20260630_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--LongTermDebt_c20260630_pn3n3" title="Principal Amount Outstanding">214,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_901_ecustom--CarryingValueDebt_iI_pn3n3_c20260630_fKDEp_zqGha4GYE7Jd" title="Carrying Value">214,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20260630_fKDIp_zPrc9IhHCjC4" title="Fair Value">214,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Principal<br/> Amount<br/> Committed</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal Amount<br/> Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Carrying<br/> Value <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 11pt"><b>Fair Value <sup>(2)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_903_ecustom--TotalPrincipalAmountCommitted_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90D_eus-gaap--LongTermDebt_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Principal Amount Outstanding">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_906_ecustom--CarryingValueDebt_iI_pn3n3_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDEp_z1JQG7A1PO9j" title="Carrying Value">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_fKDIp_zX87bwgz4Csj" title="Fair Value">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Debt</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_906_ecustom--TotalPrincipalAmountCommitted_c20251231_pn3n3" title="Total Principal Amount Committed">275,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--LongTermDebt_c20251231_pn3n3" title="Principal Amount Outstanding">226,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90C_ecustom--CarryingValueDebt_iI_pn3n3_c20251231_fKDEp_z1dVfqHyRT5d" title="Carrying Value">226,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentFairValue_iI_pn3n3_c20251231_fKDIp_zshaou16KMed" title="Fair Value">226,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F05_zESvjB8tNEt">(1)</sup></td><td id="xdx_F1E_z1R1T4vZwX2i" style="text-align: justify">Carrying value of these debt obligations generally approximate fair value due to their variable interest rates.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F05_zL7kKbrKinM">(2)</sup></td><td id="xdx_F1B_zdQPcJNlxP1b" style="text-align: justify">The fair value of these debt obligations would be categorized as Level 2 under ASC 820-10.</td> </tr></table> 275000000 214000000 214000000 214000000 275000000 214000000 214000000 214000000 275000000 226000000 226000000 226000000 275000000 226000000 226000000 226000000 <table cellpadding="0" cellspacing="0" id="xdx_896_esrt--ContractualObligationFiscalYearMaturityScheduleTableTextBlock_ztHwfAVOvXq4" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details 1)"> <tr style="vertical-align: bottom"> <td id="xdx_8B5_zmQCE9rg150l" style="display: none">Schedule of contractual maturities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1-3 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">3-5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">More than 5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_904_eus-gaap--ContractualObligation_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Debt Obligations">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_902_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Less than 1 year">214,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_901_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7487">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7489">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_901_eus-gaap--ContractualObligationDueAfterFifthYear_c20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7491">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Debt Obligations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--ContractualObligation_c20260630_pn3n3" title="Total Debt Obligations">214,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20260630_pn3n3" title="Less than 1 year">214,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20260630_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7497">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20260630_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7499">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_900_eus-gaap--ContractualObligationDueAfterFifthYear_c20260630_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7501">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1-3 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">3-5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">More than 5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">NatWest Credit Facility</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90A_eus-gaap--ContractualObligation_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Total Debt Obligations">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_907_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="Less than 1 year">226,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7507">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90E_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7509">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--ContractualObligationDueAfterFifthYear_c20251231__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7511">—</span></span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Debt Obligations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--ContractualObligation_c20251231_pn3n3" title="Total Debt Obligations">226,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--ContractualObligationDueInNextTwelveMonths_c20251231_pn3n3" title="Less than 1 year">226,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ContractualObligationDueInSecondAndThirdYear_c20251231_pn3n3" title="1-3 years"><span style="-sec-ix-hidden: xdx2ixbrl7517">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--ContractualObligationDueInFourthAndFifthYear_c20251231_pn3n3" title="3-5 years"><span style="-sec-ix-hidden: xdx2ixbrl7519">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--ContractualObligationDueAfterFifthYear_c20251231_pn3n3" title="More than 5 years"><span style="-sec-ix-hidden: xdx2ixbrl7521">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 214000000 214000000 214000000 214000000 226000000 226000000 226000000 226000000 175000000.0 275000000 (1) EUR borrowings from 2.55% to 2.30% per annum, (2) GBP borrowings from 2.65% to 2.30% per annum, (3) USD borrowings (1) EUR borrowings from 2.30% to 2.10% per annum, (2) GBP borrowings from 2.30% to 2.10% per annum, (3) USD borrowings Advances under the NatWest Credit Facility bear interest at a per annum rate equal to, in the case of U.S. Dollar advances, SOFR, and in the case of foreign currency advances, the applicable benchmark in effect for the currency plus an applicable margin of 2.10%. The Fund pays an unused commitment fee of 80 basis points (0.80%) per annum if the unused amount is greater than 50% of the facility amount, 70 basis points (0.70%) per annum if the unused amount is between 30% and 50% of the facility amount, and 65 basis points (0.65%) per annum if the unused amount is less than or equal to 30% of the facility amount. The stated maturity date is November 26, 2036. 214000000 226000000 <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--InterestIncomeAndInterestExpenseDisclosureTableTextBlock_hus-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zgzQWqgGW1Z9" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_zIJthk8ayE0l" style="display: none; text-align: left">Schedule of interest expense related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_903_ecustom--BorrowingInterestExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zUcml0kRGdyh" title="Borrowing interest expense">3,139</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_ecustom--BorrowingInterestExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zOqeukoOX399" title="Borrowing interest expense">6,486</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zg9HVZm2Qse" title="Commitment and Facility fees">123</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zYbS5Rf7Yri4" title="Commitment and Facility fees">221</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zjGKvSANuQTl" title="Amortization of deferred financing costs">72</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zGaA5GMraxXk" title="Amortization of deferred financing costs">154</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--InterestAndDebtExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_z78qUMSvy47" title="Total interest and debt financing expense">3,334</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--InterestAndDebtExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zjW88o6iZmuj" title="Total interest and debt financing expense">6,861</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_902_ecustom--BorrowingInterestExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zUEKYe9HRq2l" title="Borrowing interest expense">3,388</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_906_ecustom--BorrowingInterestExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zaqT3GzujzTg" title="Borrowing interest expense">6,446</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zrLv3ZCpMqjd" title="Commitment and Facility fees">151</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zGeRQJloiOA9" title="Commitment and Facility fees">345</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_z2P2QDYcffBg" title="Amortization of deferred financing costs">89</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zLb69pFNh0l2" title="Amortization of deferred financing costs">177</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_900_eus-gaap--InterestAndDebtExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zjCcxJhnE5r" title="Total interest and debt financing expense">3,628</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90F_eus-gaap--InterestAndDebtExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--NatWestCreditFacilityMember_zm9RuEjjXD32" title="Total interest and debt financing expense">6,968</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 3139000 6486000 123000 221000 72000 154000 3334000 6861000 3388000 6446000 151000 345000 89000 177000 3628000 6968000 215000000 223000000 0.0585 0.0588 200600000 189600000 0.0678 0.0686 80000000.0 Advances under the MUFG Credit Facility bear interest at a per annum rate equal to 2.05%. The Fund pays commitment fee of 30 basis points (0.30%) per annum. The stated maturity date is September 20, 2024. In September 2024, the MUFG Credit Facility was repaid in full using available cash at the Fund and through drawdowns on the available Capital Commitments of the Fund. On May 21, 2025, the MUFG Credit Facility was terminated in full. 0 0 <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--InterestIncomeAndInterestExpenseDisclosureTableTextBlock_hus-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zUJxDUIYTfb5" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Debt (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B6_zETGSolRHIu9" style="display: none; text-align: left">Schedule of interest expense related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_ecustom--BorrowingInterestExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zfSvbo6WBmEe" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7597">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 12%; font-weight: bold; text-align: right"><span id="xdx_904_ecustom--BorrowingInterestExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zPJtpa3h1hMg" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7599">—</span></span></td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z6mluoGqgnIc" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7601">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zsJaan73uKPi" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7603">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z33rWDkebHG8" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7605">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zeCh6n1eZ4T4" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7607">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--InterestAndDebtExpense_pn3n3_c20260401__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z27GXiTnvC5i" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7609">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--InterestAndDebtExpense_pn3n3_c20260101__20260630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zJOguBUBnyCf" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7611">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months<br/> ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Borrowing interest expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_ecustom--BorrowingInterestExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zCFacjtoBRWl" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7613">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 12%; font-weight: bold; text-align: right"><span id="xdx_905_ecustom--BorrowingInterestExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zzd0AeDTUVIf" title="Borrowing interest expense"><span style="-sec-ix-hidden: xdx2ixbrl7615">—</span></span></td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Commitment and Facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zAm2DmWucnl8" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7617">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--LineOfCreditFacilityCommitmentFeeAmount_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zX06FW2iS6s9" title="Commitment and Facility fees"><span style="-sec-ix-hidden: xdx2ixbrl7619">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Amortization of deferred financing costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zqJCOqA6eT9a" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7621">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_ecustom--AmortizationOfDeferredFinancingCosts_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_z1KkUJhKU321" title="Amortization of deferred financing costs"><span style="-sec-ix-hidden: xdx2ixbrl7623">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total interest and debt financing expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--InterestAndDebtExpense_pn3n3_c20250401__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zM1WJuDENTYk" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7625">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--InterestAndDebtExpense_pn3n3_c20250101__20250630__us-gaap--CreditFacilityAxis__custom--MUFGCreditFacilityMember_zwXWdao8eFbj" title="Total interest and debt financing expense"><span style="-sec-ix-hidden: xdx2ixbrl7627">—</span></span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 0 0 0 0 0 0 0 0 <p id="xdx_804_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zBTRPyVWi2Y4" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 7. <span id="xdx_824_z7PhJGrj0wke">Commitments &amp; Contingencies </span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the normal course of business, the Fund enters into contracts that provide a variety of general indemnifications. Any exposure to the Fund under these arrangements could involve future claims that may be made against the Fund. Currently, no such claims exist or are expected to arise and, accordingly, the Fund has not accrued any liability in connection with such indemnifications.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The Fund's investment portfolio may contain debt investments which are in the form of lines of credit or delayed draw commitments, which require the Fund to provide funding when requested by portfolio companies in accordance with underlying loan agreements. As of June 30, 2026, and December 31, 2025, the Fund had the following unfunded delayed draw term loans and revolvers:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock_pn3n3_z9tFklAJFYj7" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Commitments &amp; Contingencies (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BB_ziHbiGO6xSLe" style="display: none; text-align: left">Schedule of commitments &amp; contingencies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Par Value as of <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%; text-align: left">Unfunded delayed draw commitments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_ecustom--UnfundedDelayedDrawCommitments_c20260101__20260630_pn3n3" title="Unfunded delayed draw commitments">61,301</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unfunded revolving commitments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--UnfundedRevolvingCommitments_c20260101__20260630_pn3n3" title="Unfunded revolving commitments">33,663</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Unfunded term loans</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_ecustom--UnfundedTermLoans_pn3n3_c20260101__20260630_z5Z8BaOQW7V3" title="Unfunded term loans">2,067</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total unfunded commitments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--InvestmentCompanyCommittedCapital_c20260101__20260630_pn3n3" title="Total unfunded commitments">97,031</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Par Value as of <br/> December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%; text-align: left">Unfunded delayed draw commitments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_906_ecustom--UnfundedDelayedDrawCommitments_c20250101__20251231_pn3n3" title="Unfunded delayed draw commitments">61,048</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unfunded revolving commitments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_ecustom--UnfundedRevolvingCommitments_c20250101__20251231_pn3n3" title="Unfunded revolving commitments">32,952</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total unfunded commitments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--InvestmentCompanyCommittedCapital_c20250101__20251231_pn3n3" title="Total unfunded commitments">94,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zMBOYA9ZlQNk" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund's investment portfolio may also contain Partnership Investments which require the Fund to provide capital when called from the portfolio companies in accordance with the underlying partnership agreements. As of June 30, 2026, the Fund had funded $7.4 million or 93.0% of the $8.0 million total commitments to Partnership Investments. As of December 31, 2025, the Fund had funded $7.4 million or 93.0% of the $8.0 million total commitments to Partnership Investments.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">From time to time, the Fund may become a party to certain legal proceedings incidental to the normal course of its business. As of June 30, 2026, and December 31, 2025, management is not aware of any pending or threatened material litigation.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock_pn3n3_z9tFklAJFYj7" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Commitments &amp; Contingencies (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BB_ziHbiGO6xSLe" style="display: none; text-align: left">Schedule of commitments &amp; contingencies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Par Value as of <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%; text-align: left">Unfunded delayed draw commitments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_ecustom--UnfundedDelayedDrawCommitments_c20260101__20260630_pn3n3" title="Unfunded delayed draw commitments">61,301</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unfunded revolving commitments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--UnfundedRevolvingCommitments_c20260101__20260630_pn3n3" title="Unfunded revolving commitments">33,663</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Unfunded term loans</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_ecustom--UnfundedTermLoans_pn3n3_c20260101__20260630_z5Z8BaOQW7V3" title="Unfunded term loans">2,067</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total unfunded commitments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--InvestmentCompanyCommittedCapital_c20260101__20260630_pn3n3" title="Total unfunded commitments">97,031</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Par Value as of <br/> December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 85%; text-align: left">Unfunded delayed draw commitments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_906_ecustom--UnfundedDelayedDrawCommitments_c20250101__20251231_pn3n3" title="Unfunded delayed draw commitments">61,048</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unfunded revolving commitments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_ecustom--UnfundedRevolvingCommitments_c20250101__20251231_pn3n3" title="Unfunded revolving commitments">32,952</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total unfunded commitments</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--InvestmentCompanyCommittedCapital_c20250101__20251231_pn3n3" title="Total unfunded commitments">94,000</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 61301000 33663000 2067000 97031000 61048000 32952000 94000000 <p id="xdx_80C_eus-gaap--SegmentReportingDisclosureTextBlock_z5i6QtePuz7e" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 8. <span id="xdx_82F_zPvPm59TjJc8">Segment Reporting</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund operates through a single operating and reporting segment with an investment objective to generate both current income and capital appreciation through debt and preferred equity. The chief operating decision maker ("CODM") is comprised of the Fund's lead portfolio managers and the Fund's President and Chief Financial Officer. The Fund represents a single operating segment, as the CODM monitors and assesses the operating results of the Fund as a whole, based on a defined investment objective of the Fund. The Fund’s portfolio composition, total returns, expense ratios and changes in net assets, as stated in the consolidated financial statements, are used by the CODM to assess segment performance and allocate resources. The accompanying consolidated financial statements detail the Fund's segment assets, liabilities, revenues, and expenses.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p id="xdx_80F_eus-gaap--AssetAcquisitionTextBlock_zlWruicVzQXj" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 9. <span id="xdx_821_zaxhuA7naT79">Net Assets </span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 17, 2025, the Fund adopted the Multiple Class Plan which established four classes of units known as Class I Units, Class M Units, Class A Units, and Class S Units, authorized to be issued. Containing the same rights and features as the new Class I Units, previously issued common units were transferred to Class I Units once established.<b> </b>As of June 30, 2026, there were no Class A, or Class S units outstanding.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i>Equity Issuance</i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the six months ended June 30, 2026, the Fund received $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3n3_dm_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zVvx9Kyf8ZH9" title="Proceeds from issuance of common stock">43.4</span> million in proceeds relating to the issuance of Class I units for subscriptions. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the six months ended June 30, 2026, the Fund received $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3n3_dm_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_z5EWeIVeqoM8" title="Proceeds from issuance of common stock">0.4</span> million in proceeds relating to the issuance of Class M units for subscriptions. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2025, the Fund received $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3n3_dm_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_zUqFZ5reuwy5" title="Proceeds from issuance of common stock">114.0</span> million in proceeds relating to the issuance of common units for subscriptions. $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3n3_dm_c20250101__20251231__srt--CounterpartyNameAxis__custom--PartnersGroupFinanceUSDICLimitedMember_zuiV1kHepB08" title="Proceeds from issuance of common stock">10.4</span> million of the $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3n3_dm_c20250101__20250630_zZacdMVyUiS5" title="Proceeds from issuance of common stock">114.0</span> million in proceeds were contributed by Partners Group Finance USD IC Limited, a related party of the Adviser and the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of the subscription agreements, investors are required to fund drawdowns to purchase units up to the amount of their respective Capital Commitments on an as-needed basis upon the issuance of a capital draw-down notice. The Adviser, however, may waive the minimum Capital Commitment at its discretion. As of December 31, 2025, the Fund had total Capital Commitments of $<span id="xdx_907_ecustom--CapitalCommitments_iI_pn3n3_dm_c20251231_z54Uox7tjEPf" title="Capital Commitments">275.0</span> million, of which 0.0% or $<span id="xdx_90C_ecustom--Unfunded_c20251231_pn3n3" title="Unfunded">0</span> million is unfunded.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the total units issued and amount received related to the offer and sale of units made pursuant to Section 4(a)(2) of the “Securities Act, Regulation D promulgated thereunder and other available exemptions from the registration requirements of the Securities Act to investors who are “accredited investors” within the meaning of Regulation D under the Securities Act during the six months ended June 30, 2026:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfNetBenefitCostsTableTextBlock_z3cwGeaJHPZj" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Net Assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_zu1rLuQant22" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of net assets</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended<br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Units <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Class I</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_901_ecustom--TotalSubscriptionsUnits_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zhvt6LqHIDW5" title="Total subscriptions, units">28,979,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_ecustom--TotalSubscriptionsAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zqQ9Pe6FRSA8" title="Total subscriptions, amount">43,377</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Class M</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalSubscriptionsUnits_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_z953eqhKfsd5" title="Total subscriptions, units">246,174</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_ecustom--TotalSubscriptionsAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zcV8KG93rDad" title="Total subscriptions, amount">373</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total subscriptions</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_907_ecustom--TotalSubscriptionsUnits_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_fKDEp_ze8U4Vuc8Nge" title="Total subscriptions, units">29,225,934</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_ecustom--TotalSubscriptionsAmount_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_pn3n3" title="Total subscriptions, amount">43,750</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td id="xdx_F09_zJ6XUrXJdi7g" style="width: 0.25in">(1)</td><td id="xdx_F14_zwZkWFBgb1z7">The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented.</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the total units issued and amount received related to capital drawdowns delivered pursuant to the subscription agreements during the six months ended June 30, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended<br/> June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Units <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left; padding-bottom: 1pt">Common Units</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_906_ecustom--TotalSubscriptionsUnits_pid_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zDJv8gvbMERg" title="Total subscriptions, units">25,256,220</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_905_ecustom--TotalSubscriptionsAmount_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_pn3n3" title="Total subscriptions, amount">40,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total capital drawdowns</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_904_ecustom--TotalSubscriptionsUnits_pid_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_fKDEp_zV1MMfvUVEx3" title="Total subscriptions, units">25,256,220</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_905_ecustom--TotalSubscriptionsAmount_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_pn3n3" title="Total subscriptions, amount">40,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td id="xdx_F0F_zpfuKZStwLqj" style="width: 20pt; text-align: left">(1)</td><td id="xdx_F13_zQ2HcuHdqg5c" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented.</td> </tr></table> <p id="xdx_8AF_zIKBcNSZKUl3" style="margin-top: 0; margin-bottom: 0"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i>Distributions </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes distributions declared during the six months ended June 30, 2026:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfDistributionsDeclaredTableTextBlock_pn3n3_zJOzxs0QBp47" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Net Assets (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B4_zWvZEj2AzBrj" style="display: none; text-align: center; padding-bottom: 1pt; padding-left: 2.65pt">Schedule of distributions declared</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class I</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Declared</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Record Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Payment Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Distributions per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Distributions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 20%; text-align: center; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember" title="Date Declared">March 27, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember" title="Record Date">March 26, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_906_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember" title="Payment Date">April 30, 2026</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_906_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember_pdd" title="Distributions per Share">0.0364</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_905_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember_pn3n3" title="Total Distributions">6,625</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_900_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Date Declared">June 26, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_900_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Record Date">June 25, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_904_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Payment Date">July 30, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pdd" title="Distributions per Share">0.0237</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pn3n3" title="Total Distributions">5,002</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: center; padding-bottom: 1pt; padding-left: 2.65pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_902_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_pdd" title="Distributions per Share">0.0601</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_900_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_pn3n3" title="Total Distributions">11,627</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class M</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Declared</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Record Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Payment Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Distributions per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Distributions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 20%; text-align: center; padding-left: 2.65pt"><span id="xdx_902_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember" title="Date Declared">March 27, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_902_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember" title="Record Date">March 26, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_90B_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember" title="Payment Date">April 30, 2026</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_902_ecustom--DistributionsPerShare_c20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pdd" title="Distributions per Share">0.0364</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_909_ecustom--TotalDistributions_c20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pn3n3" title="Total Distributions">4</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Date Declared">June 26, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Record Date">June 25, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_907_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Payment Date">July 30, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pdd" title="Distributions per Share">0.0237</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pn3n3" title="Total Distributions">6</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: center; padding-bottom: 1pt; padding-left: 2.65pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90E_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pdd" title="Distributions per Share">0.0601</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_904_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pn3n3" title="Total Distributions">10</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zGWYWG4k3Jq6" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the six months ended June 30, 2025, the Fund did <span id="xdx_908_eus-gaap--PaymentsOfDividends_pn3n3_do_c20260101__20260630_zOltr5hxLJc9" title="Payment for distributions">no</span>t make any distributions. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i>Distribution Reinvestment</i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes distribution reinvestment during the six months ended June 30, 2026:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfDistributionsReinvestmentTableTextBlock_zyWhhTVOHjY1" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Net Assets (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B2_zEKwUY0OBSk2" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of distributions reinvestment</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Units <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Class I</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90C_ecustom--TotalDistributionReinvestment_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zv8v33Sby8Eh">1,481,237</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_903_ecustom--TotalDistributionReinvestmentAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zJ1MsffmeYF5" title="Total distribution reinvestment, amount">2,244</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Class M</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalDistributionReinvestment_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zYrLWZtxP597"><span style="-sec-ix-hidden: xdx2ixbrl7761">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalDistributionReinvestmentAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zkMI0YaipfCc"><span style="-sec-ix-hidden: xdx2ixbrl7762">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total distribution reinvestment</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_ecustom--TotalDistributionReinvestment_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_fKDEp_zKUeWUWySSkk" title="Total distribution reinvestment">1,481,237</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_902_ecustom--TotalDistributionReinvestmentAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_zFmMAXaV0LW6">2,244</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td id="xdx_F07_zGN0w03KJ6dl" style="width: 20pt; text-align: left">(1)</td><td id="xdx_F17_zMAoWyZnTqj2" style="text-align: left">The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented.</td> </tr></table> <p id="xdx_8AB_zdF6yJsrSL3b" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the six months ended June 30, 2025, the Fund did not make any Distribution Reinvestment. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> 43400000 400000 114000000.0 10400000 114000000.0 275000000.0 0 <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfNetBenefitCostsTableTextBlock_z3cwGeaJHPZj" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Net Assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_zu1rLuQant22" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of net assets</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended<br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Units <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Class I</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_901_ecustom--TotalSubscriptionsUnits_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zhvt6LqHIDW5" title="Total subscriptions, units">28,979,760</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_ecustom--TotalSubscriptionsAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zqQ9Pe6FRSA8" title="Total subscriptions, amount">43,377</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Class M</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalSubscriptionsUnits_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_z953eqhKfsd5" title="Total subscriptions, units">246,174</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_ecustom--TotalSubscriptionsAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zcV8KG93rDad" title="Total subscriptions, amount">373</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total subscriptions</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_907_ecustom--TotalSubscriptionsUnits_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_fKDEp_ze8U4Vuc8Nge" title="Total subscriptions, units">29,225,934</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_ecustom--TotalSubscriptionsAmount_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_pn3n3" title="Total subscriptions, amount">43,750</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td id="xdx_F09_zJ6XUrXJdi7g" style="width: 0.25in">(1)</td><td id="xdx_F14_zwZkWFBgb1z7">The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented.</td></tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the total units issued and amount received related to capital drawdowns delivered pursuant to the subscription agreements during the six months ended June 30, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended<br/> June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Units <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left; padding-bottom: 1pt">Common Units</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_906_ecustom--TotalSubscriptionsUnits_pid_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zDJv8gvbMERg" title="Total subscriptions, units">25,256,220</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_905_ecustom--TotalSubscriptionsAmount_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_pn3n3" title="Total subscriptions, amount">40,000</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total capital drawdowns</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_904_ecustom--TotalSubscriptionsUnits_pid_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_fKDEp_zV1MMfvUVEx3" title="Total subscriptions, units">25,256,220</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_905_ecustom--TotalSubscriptionsAmount_c20250101__20250630__us-gaap--TransactionTypeAxis__custom--CapitalDrawdownsMember_pn3n3" title="Total subscriptions, amount">40,000</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td id="xdx_F0F_zpfuKZStwLqj" style="width: 20pt; text-align: left">(1)</td><td id="xdx_F13_zQ2HcuHdqg5c" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented.</td> </tr></table> 28979760 43377000 246174 373000 29225934 43750000 25256220 40000000 25256220 40000000 <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfDistributionsDeclaredTableTextBlock_pn3n3_zJOzxs0QBp47" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Net Assets (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B4_zWvZEj2AzBrj" style="display: none; text-align: center; padding-bottom: 1pt; padding-left: 2.65pt">Schedule of distributions declared</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class I</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Declared</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Record Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Payment Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Distributions per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Distributions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 20%; text-align: center; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember" title="Date Declared">March 27, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember" title="Record Date">March 26, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_906_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember" title="Payment Date">April 30, 2026</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_906_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember_pdd" title="Distributions per Share">0.0364</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_905_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember_pn3n3" title="Total Distributions">6,625</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_900_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Date Declared">June 26, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_900_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Record Date">June 25, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_904_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Payment Date">July 30, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pdd" title="Distributions per Share">0.0237</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pn3n3" title="Total Distributions">5,002</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: center; padding-bottom: 1pt; padding-left: 2.65pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_902_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_pdd" title="Distributions per Share">0.0601</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_900_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_pn3n3" title="Total Distributions">11,627</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class M</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Declared</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Record Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Payment Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Distributions per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Distributions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 20%; text-align: center; padding-left: 2.65pt"><span id="xdx_902_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember" title="Date Declared">March 27, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_902_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember" title="Record Date">March 26, 2026</span></td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center; padding-left: 2.65pt"><span id="xdx_90B_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember" title="Payment Date">April 30, 2026</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_902_ecustom--DistributionsPerShare_c20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pdd" title="Distributions per Share">0.0364</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right"><span id="xdx_909_ecustom--TotalDistributions_c20260630__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--DistributionMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pn3n3" title="Total Distributions">4</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Date Declared">June 26, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_90F_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Record Date">June 25, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"><span id="xdx_907_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member" title="Payment Date">July 30, 2026</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pdd" title="Distributions per Share">0.0237</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--Distribution1Member_pn3n3" title="Total Distributions">6</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: center; padding-bottom: 1pt; padding-left: 2.65pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt; padding-left: 2.65pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90E_ecustom--DistributionsPerShare_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pdd" title="Distributions per Share">0.0601</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_904_ecustom--TotalDistributions_c20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_pn3n3" title="Total Distributions">10</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 2026-03-27 2026-03-26 2026-04-30 0.0364 6625000 2026-06-26 2026-06-25 2026-07-30 0.0237 5002000 0.0601 11627000 2026-03-27 2026-03-26 2026-04-30 0.0364 4000 2026-06-26 2026-06-25 2026-07-30 0.0237 6000 0.0601 10000 0 <table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfDistributionsReinvestmentTableTextBlock_zyWhhTVOHjY1" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Net Assets (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B2_zEKwUY0OBSk2" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of distributions reinvestment</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 11pt"><b>Units <sup>(1)</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Class I</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90C_ecustom--TotalDistributionReinvestment_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zv8v33Sby8Eh">1,481,237</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_903_ecustom--TotalDistributionReinvestmentAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zJ1MsffmeYF5" title="Total distribution reinvestment, amount">2,244</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Class M</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalDistributionReinvestment_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zYrLWZtxP597"><span style="-sec-ix-hidden: xdx2ixbrl7761">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--TotalDistributionReinvestmentAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zkMI0YaipfCc"><span style="-sec-ix-hidden: xdx2ixbrl7762">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total distribution reinvestment</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_ecustom--TotalDistributionReinvestment_pid_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_fKDEp_zKUeWUWySSkk" title="Total distribution reinvestment">1,481,237</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_902_ecustom--TotalDistributionReinvestmentAmount_pn3n3_c20260101__20260630__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_zFmMAXaV0LW6">2,244</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><i> </i></b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td id="xdx_F07_zGN0w03KJ6dl" style="width: 20pt; text-align: left">(1)</td><td id="xdx_F17_zMAoWyZnTqj2" style="text-align: left">The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented.</td> </tr></table> 1481237 2244000 1481237 2244000 <p id="xdx_80B_eus-gaap--EarningsPerShareTextBlock_zKgY7rdpOTC5" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 10. <span id="xdx_829_z5gCLXEWowca">Earnings per unit</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth the computation of basic and diluted earnings per unit for the three and six months ended June 30, 2026, and June 30, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_pn3n3_zKzC2LmnI8Zk" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Earnings per unit (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B8_zrFYny0GLXA7" style="display: none; text-align: left">Schedule of earnings per unit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zxH7CvZC2kbi" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zY2rbiqsImkk" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months ended <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class I</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class M</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--NetIncreaseDecreaseInNetAssetsResultingFromOperations_i_pn3n" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Net increase (decrease) in net assets resulting from operations</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,383</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 11pt">Weighted average units outstanding (basic and diluted)</span> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zEHjX8PBkPGk" title="Weighted average units outstanding, basic"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_z4pWE8I027rk" title="Weighted average units outstanding, diluted">210,939,992</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_z33I7YiidZjf" title="Weighted average units outstanding, basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zhkTVU4SjU6j" title="Weighted average units outstanding, diluted">226,540</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--IncreaseInNetAssetsResultingFromOperationsPerUnit_pid_z6UGLAJ31Ikd" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Increase in net assets resulting from operations per unit (basic and diluted) </span><sup id="xdx_F45_zQ3zal5Yzli8">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="white-space: nowrap; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zGGMJooy99Ch" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_z2CFZstkE6T2" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class I</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class M</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_ecustom--NetIncreaseDecreaseInNetAssetsResultingFromOperations_zlq4n1AM0fw7" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Net increase (decrease) in net assets resulting from operations</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,403</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">5</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 11pt">Weighted average units outstanding (basic and diluted)</span> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zLTKQTQtjoYd" title="Weighted average units outstanding, basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zXMukLUm2yle" title="Weighted average units outstanding, diluted">196,298,638</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zFIBhgd8PRJ5" title="Weighted average units outstanding, basic"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zvWsT1zEsdid" title="Weighted average units outstanding, diluted">142,278</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IncreaseInNetAssetsResultingFromOperationsPerUnit_pid_zhcW8x34gGR9" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Increase in net assets resulting from operations per unit (basic and diluted) </span><sup id="xdx_F4E_zlgRpnZhUkr7">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.03</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.03</td><td style="white-space: nowrap; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_zSK9UbyJTs24" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_zMIyeJQgzofg" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months ended<br/> June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended<br/> June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_ecustom--NetIncreaseDecreaseInNetAssetsResultingFromOperations_zRoT7vbbcp2k" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Net increase (decrease) in net assets resulting from operations</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,083</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,626</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 11pt">Weighted average units outstanding (basic and diluted)</span> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zugAZJWmDbPj" title="Weighted average units outstanding, basic"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zT0tiTiUp3Zf" title="Weighted average units outstanding, diluted">128,781,225</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zo9fTYHBafL9" title="Weighted average units outstanding, basic"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zRpfECnOxpT8" title="Weighted average units outstanding, diluted">119,532,470</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--IncreaseInNetAssetsResultingFromOperationsPerUnit_pid_znEFnXgrhy1h" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Increase in net assets resulting from operations per unit (basic and diluted) </span><sup id="xdx_F45_zWv1aSKbrjhc">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.03</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.06</td><td style="white-space: nowrap; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td id="xdx_F0E_z5EZweJQ9OK7" style="width: 20pt; text-align: left">(1)</td><td id="xdx_F14_zhYJG5GHLcEa" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the weighted average units outstanding and per unit values have been adjusted retroactively to reflect the split for all periods presented.</td> </tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_pn3n3_zKzC2LmnI8Zk" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Earnings per unit (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B8_zrFYny0GLXA7" style="display: none; text-align: left">Schedule of earnings per unit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zxH7CvZC2kbi" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zY2rbiqsImkk" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months ended <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class I</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class M</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--NetIncreaseDecreaseInNetAssetsResultingFromOperations_i_pn3n" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Net increase (decrease) in net assets resulting from operations</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,383</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 11pt">Weighted average units outstanding (basic and diluted)</span> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zEHjX8PBkPGk" title="Weighted average units outstanding, basic"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_z4pWE8I027rk" title="Weighted average units outstanding, diluted">210,939,992</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_z33I7YiidZjf" title="Weighted average units outstanding, basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zhkTVU4SjU6j" title="Weighted average units outstanding, diluted">226,540</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--IncreaseInNetAssetsResultingFromOperationsPerUnit_pid_z6UGLAJ31Ikd" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Increase in net assets resulting from operations per unit (basic and diluted) </span><sup id="xdx_F45_zQ3zal5Yzli8">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="white-space: nowrap; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zGGMJooy99Ch" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_z2CFZstkE6T2" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/> June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class I</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class M</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_ecustom--NetIncreaseDecreaseInNetAssetsResultingFromOperations_zlq4n1AM0fw7" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Net increase (decrease) in net assets resulting from operations</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,403</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">5</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 11pt">Weighted average units outstanding (basic and diluted)</span> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zLTKQTQtjoYd" title="Weighted average units outstanding, basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_fKDEp_zXMukLUm2yle" title="Weighted average units outstanding, diluted">196,298,638</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zFIBhgd8PRJ5" title="Weighted average units outstanding, basic"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_fKDEp_zvWsT1zEsdid" title="Weighted average units outstanding, diluted">142,278</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IncreaseInNetAssetsResultingFromOperationsPerUnit_pid_zhcW8x34gGR9" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Increase in net assets resulting from operations per unit (basic and diluted) </span><sup id="xdx_F4E_zlgRpnZhUkr7">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.03</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.03</td><td style="white-space: nowrap; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_zSK9UbyJTs24" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_zMIyeJQgzofg" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the three months ended<br/> June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended<br/> June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_ecustom--NetIncreaseDecreaseInNetAssetsResultingFromOperations_zRoT7vbbcp2k" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left">Net increase (decrease) in net assets resulting from operations</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,083</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,626</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 11pt">Weighted average units outstanding (basic and diluted)</span> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zugAZJWmDbPj" title="Weighted average units outstanding, basic"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zT0tiTiUp3Zf" title="Weighted average units outstanding, diluted">128,781,225</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zo9fTYHBafL9" title="Weighted average units outstanding, basic"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_fKDEp_zRpfECnOxpT8" title="Weighted average units outstanding, diluted">119,532,470</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--IncreaseInNetAssetsResultingFromOperationsPerUnit_pid_znEFnXgrhy1h" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"><span style="font-size: 11pt">Increase in net assets resulting from operations per unit (basic and diluted) </span><sup id="xdx_F45_zWv1aSKbrjhc">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.03</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.06</td><td style="white-space: nowrap; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td id="xdx_F0E_z5EZweJQ9OK7" style="width: 20pt; text-align: left">(1)</td><td id="xdx_F14_zhYJG5GHLcEa" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the weighted average units outstanding and per unit values have been adjusted retroactively to reflect the split for all periods presented.</td> </tr></table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> 4383000 4000 210939992 210939992 226540 226540 0.02 0.02 6403000 5000 196298638 196298638 142278 142278 0.03 0.03 4083000 7626000 128781225 128781225 119532470 119532470 0.03 0.06 <p id="xdx_806_ecustom--TaxInformationTextBlock_zGlkFv8JN6V5" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 11. <span id="xdx_82F_zD5O1trTSSzc">Tax Information</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p><p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund elected to be regulated as a BDC under the 1940 Act on December 19, 2025. In addition, the Fund has elected to be treated as a RIC under Subchapter M of the Code. The Fund intends to qualify each taxable year hereafter as a RIC under Subchapter M of the Code, beginning with its fiscal year ending December 31, 2026. Income or loss earned by the Fund prior to the period in which it elected to be treated as a RIC is not attributable to the shareholders of the RIC. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to the period in which the Fund elected to be treated as a RIC, Partners Group Lending Fund, LLC was classified as an association taxable as a Corporation for U.S. federal tax purposes. Partners Group BDC Finance I, LLC and Partners Group Revolver Pooling BDC, LLC are treated as disregarded entities and, as such, all activities at these entities shall be reported and taxed on Partners Group Lending Fund, LLC’s U.S. federal tax return. For the tax year ended December 31, 2025, in accordance with U.S. federal tax laws, Partners Group Lending Fund, LLC’s taxable income is subject to federal taxes at a <span id="xdx_90E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_c20250101__20251231_zU8LuRkqA6cj" title="Federal taxes rate">21%</span> rate and state taxes at a <span id="xdx_908_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_c20250101__20251231_zMrODTaJTUad" title="State rate">0%</span> rate.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASC Topic 740, “Accounting for Uncertainty in Income Taxes” (“ASC 740”) provides guidance on the accounting for and disclosure of uncertainty in tax position. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Fund’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current year. Based on its analysis of its tax position for all open tax years (the current and prior years, as applicable), the Adviser has concluded that the Fund does not have any uncertain tax positions that met the recognition or measurement criteria of ASC 740. Such open tax years remain subject to examination and adjustment by tax authorities.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2026, and the year ended December 31, 2025, for U.S. federal income tax purposes, the Fund’s aggregate unrealized appreciation and depreciation on its investments based on cost was as follows:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfUnrealizedAppreciationAndDepreciationOnItsInvestments_pn3n3_zt2qe6ras5uj" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BC_zBqs6LQqMbFl" style="display: none; text-align: left; padding-left: 5.4pt">Schedule of unrealized appreciation and depreciation on its investments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260630_zQhdRspSt5ol" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20251231_zVssLnDHZPef" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_ecustom--IncomeTaxCost_iI_pn3n3_zb40yJzuobqa" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left; padding-left: 5.4pt">Tax Cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">525,753</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">456,637</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--GrossUnrealizedAppreciationIncomeTax_iI_pn3n3_zBexQdnHWX6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Gross unrealized appreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">713</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,886</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--GrossUnrealizedDepreciationIncomeTax_iI_pn3n3_zicd8SVZi4Eg" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Gross unrealized depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,895</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">) </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,177</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--NetUnrealizedInvestmentAppreciationIncomeTax_iI_pn3n3_z1ErD6fXbH46" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Net unrealized investment appreciation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(5,182</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">) </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,709</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zqXtXUcGOxIl" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The tax cost of the Fund’s investments as of December 31, 2025, approximates their amortized cost. The tax cost of the Fund's investments as of June 30, 2026 is inclusive of the step-up in basis due to the deemed sale election made by the Fund in conjunction with its intent to elect to be treated as a RIC under the Code.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund’s income tax provision consists of the following for the six months ended June 30, 2026, and June 30, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_pn3n3_zpaaMe780024" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BF_zW09n7W3M6c7" style="display: none; padding-left: 5.4pt">Schedule of provision for income tax</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20260101__20260630_z4J045Q5ukE8" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250101__20250630_z1gctbNf6wki" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2026</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2025</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zE5fq0sgCItj" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Current Tax Expense (Benefit)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_pn3n3_maCITEBziwv_zUaOXH2TdOOa" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; padding-left: 12.75pt">Federal</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">167</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,997</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_pn3n3_maCITEBziwv_zUEnYE7gobKk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,759</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7844">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefit_i01T_pn3n3_mtCITEBziwv_zrKwp8idMyIk" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Current Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,926</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,997</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zEA9BgMoDlAi" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Deferred Tax Expense (Benefit)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzABC_zcxWuP5IcOji" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 12.75pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7852">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7853">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzABC_zJz0FrhSJIP3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7855">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7856">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_pn3n3_mtDITEBzABC_zZyiBL8XHMh4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Total Deferred Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7858">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7859">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zCXslK2DFsy7" style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">Components of the Fund's Deferred Tax Benefits and Expense as of June 30, 2026, and the year ended December 31, 2025 was as follows:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_pn3n3_z0rnCQXrKg27" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt"><b><span id="xdx_8B7_z0FWWxjUJt0f" style="display: none">Schedule of deferred tax expense benefits</span></b></td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260630_zNCrBJ9t9cC7" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20251231_z7fUP7pHA85j" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredIncomeTaxesAndOtherLiabilitiesAbstract_iB_zcR5m2qRNkRg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Deferred Income Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--UnrealizedGainOnInvestments_i01NI_pn3n3_di_maDTLzbRf_zDWGHga0UUBg" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left; padding-bottom: 1pt; padding-left: 12.75pt">Unrealized Gain on Investments</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7866">—</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(357</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxLiabilities_i01NTI_pn3n3_di_mtDTLzbRf_maDITLNzh9q_z91tg3iUjFse" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Subtotal Deferred Income Tax Liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7869">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(357</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zvXZQGetkWn8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Deferred Income Tax Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--CapitalizedOrganizationCosts_i01I_pn3n3_maDITANze6X_zl4b9z421O9h" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 12.75pt">Capitalized Organization Costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7875">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">92</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredIncomeTaxAssetsNet_i01TI_pn3n3_mtDITANze6X_msDITLNzh9q_zmeejuQFSzmg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Subtotal Deferred Income Tax Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7878">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">92</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredIncomeTaxLiabilitiesNet_i01NTI_pn3n3_di_mtDITLNzh9q_z8Wgg6p4h1Of" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Net Deferred Income Tax Asset (Liability)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7881">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(265</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> </table> <p id="xdx_8A2_z9jLxNrvhtJi" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The Fund's reported income taxes approximate the expected amount based on federal statutory rates for the six months ended June 30, 2026, and June 30, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_pn3n3_zJYbHRjGHKH5" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B6_zyeP6bkkm24a" style="display: none; text-align: left; padding-left: 12.75pt">Schedule of federal statutory rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2026</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Amount</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Percent</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; font-weight: bold; text-align: left; padding-left: 0pt">U.S. Federal Income Tax Expense At Statutory Rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20260101__20260630_pn3n3" title="U.S. Federal Income Tax Expense At Statutory Rate, Amount"><span style="-sec-ix-hidden: xdx2ixbrl7886">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20260101__20260630_zXyviT3GEct8" title="U.S. Federal Income Tax Expense At Statutory Rate, Percent"><span style="-sec-ix-hidden: xdx2ixbrl7888">—</span></span>%</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 12.75pt">U.S. state income taxes <sup id="xdx_F4D_zPFKiUGrHlC7">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20260101__20260630_pn3n3" title="U.S. state income taxes, Amount"><span style="-sec-ix-hidden: xdx2ixbrl7890">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_c20260101__20260630_zVL7y5xZ2qyj" title="U.S. state income taxes, Percent"><span style="-sec-ix-hidden: xdx2ixbrl7892">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Non-Taxable Or Non-Deductible Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_ecustom--Other_c20260101__20260630_pn3n3" title="Other">1,926</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_ecustom--EffectiveIncomeTaxRateReconciliationAtOtherRate_pid_dp_c20260101__20260630_zm8X399Nh1ed" title="Other, percent">31</span>%</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Current Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--IncomeTaxExpenseBenefit_c20260101__20260630_pn3n3" title="Total Current Tax Expense (Benefit)">1,926</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_ecustom--EffectiveIncomeTaxRateReconciliationAtCurrentIncomeTaxRate_pid_dp_c20260101__20260630_zP8AyFxynmE5" title="Total Current Tax Expense (Benefit), Percent">31</span><b>%</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2025</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Amount</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Percent</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; font-weight: bold; text-align: left; padding-left: 0pt">U.S. Federal Income Tax Expense At Statutory Rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_902_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20250101__20250630_pn3n3" title="U.S. Federal Income Tax Expense At Statutory Rate, Amount">1,997</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20250101__20250630_zQv4F92beQKk" title="U.S. Federal Income Tax Expense At Statutory Rate, Percent">21</span>%</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 12.75pt">U.S. state income taxes <sup id="xdx_F4D_zWsGwRc8IgH7">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20250101__20250630_pn3n3" title="U.S. state income taxes, Amount"><span style="-sec-ix-hidden: xdx2ixbrl7906">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_c20250101__20250630_zTNGA7ur3o38" title="U.S. state income taxes, Percent"><span style="-sec-ix-hidden: xdx2ixbrl7908">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Non-Taxable Or Non-Deductible Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--Other_c20250101__20250630_pn3n3" title="Other"><span style="-sec-ix-hidden: xdx2ixbrl7910">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--EffectiveIncomeTaxRateReconciliationAtOtherRate_pid_dp_c20250101__20250630_zjABSiEnlDHh" title="Other, percent"><span style="-sec-ix-hidden: xdx2ixbrl7912">—</span></span>%</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Current Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--IncomeTaxExpenseBenefit_c20250101__20250630_pn3n3" title="Total Current Tax Expense (Benefit)">1,997</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_ecustom--EffectiveIncomeTaxRateReconciliationAtCurrentIncomeTaxRate_pid_dp_c20250101__20250630_zddX7n3XyCie" title="Total Current Tax Expense (Benefit), Percent">21</span><b>%</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_ziAWFX1ilOFd" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Income Tax Paid By Jurisdiction</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfIncomeTaxPaidByJurisdictionTableTextBlock_pn3n3_zSySsIvjTyWl" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt"><span id="xdx_8B8_zzcGBvsFkEX9" style="display: none">Schedule of income tax paid by jurisdiction</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2026</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2025</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; font-weight: bold; text-align: left; padding-left: 0pt">U.S. Federal</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--IncomeTaxesPaidNet_c20260101__20260630__us-gaap--IncomeTaxAuthorityAxis__custom--USFederalMember_pn3n3" title="Income Tax Paid">5,000</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_901_eus-gaap--IncomeTaxesPaidNet_c20250101__20250630__us-gaap--IncomeTaxAuthorityAxis__custom--USFederalMember_pn3n3" title="Income Tax Paid">2,025</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">U.S. State<sup>(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--IncomeTaxesPaidNet_pn3n3_c20260101__20260630__us-gaap--IncomeTaxAuthorityAxis__custom--USStateMember_fKDEp_zi4zATJxgOPa" title="Income Tax Paid">1,759</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--IncomeTaxesPaidNet_pn3n3_c20250101__20250630__us-gaap--IncomeTaxAuthorityAxis__custom--USStateMember_fKDEp_zNY4ruZRHup6" title="Income Tax Paid"><span style="-sec-ix-hidden: xdx2ixbrl7926">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Income Taxes Paid</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90F_eus-gaap--IncomeTaxesPaidNet_c20260101__20260630_pn3n3" title="Income Tax Paid">6,759</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--IncomeTaxesPaidNet_c20250101__20250630_pn3n3" title="Income Tax Paid">2,025</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F08_zFmfjEngcix5">(1)</sup></td><td id="xdx_F10_zeHmYpOC9e4l" style="text-align: justify">State cash tax paid is not applicable as there are no state filing requirements for the Fund as of June 30, 2026, nor were any state filing requirements identified as of June 30, 2025. The above amount represents the state extensions paid in anticipation of tax year 2025 filing requirements for the Fund.</td> </tr></table> <p id="xdx_8A7_zHUw4pAB2USh" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the tax period ended June 30, 2026, the <span id="xdx_90E_ecustom--DistributionsDeclaredDescription_c20260101__20260630_zTLeSE4dwU7f" title="Distributions declared description">Fund had $11.6 million in distributions declared of which $10.0 million is characterized as qualified interest income and $1.6 million is, characterized as ordinary dividends.</span> Due to the Fund's intention to elect and qualify as a RIC under the Code, beginning with its fiscal year ending December 31, 2026, the Fund did not have any distributable earnings on a tax basis as of June 30, 2026.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> 0.21 0 <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfUnrealizedAppreciationAndDepreciationOnItsInvestments_pn3n3_zt2qe6ras5uj" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BC_zBqs6LQqMbFl" style="display: none; text-align: left; padding-left: 5.4pt">Schedule of unrealized appreciation and depreciation on its investments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260630_zQhdRspSt5ol" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20251231_zVssLnDHZPef" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_ecustom--IncomeTaxCost_iI_pn3n3_zb40yJzuobqa" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left; padding-left: 5.4pt">Tax Cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">525,753</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">456,637</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--GrossUnrealizedAppreciationIncomeTax_iI_pn3n3_zBexQdnHWX6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Gross unrealized appreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">713</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,886</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--GrossUnrealizedDepreciationIncomeTax_iI_pn3n3_zicd8SVZi4Eg" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Gross unrealized depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,895</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">) </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,177</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--NetUnrealizedInvestmentAppreciationIncomeTax_iI_pn3n3_z1ErD6fXbH46" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Net unrealized investment appreciation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(5,182</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">) </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,709</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 525753000 456637000 713000 2886000 -5895000 -1177000 -5182000 1709000 <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_pn3n3_zpaaMe780024" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BF_zW09n7W3M6c7" style="display: none; padding-left: 5.4pt">Schedule of provision for income tax</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20260101__20260630_z4J045Q5ukE8" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250101__20250630_z1gctbNf6wki" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2026</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2025</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zE5fq0sgCItj" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Current Tax Expense (Benefit)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_pn3n3_maCITEBziwv_zUaOXH2TdOOa" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; padding-left: 12.75pt">Federal</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">167</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,997</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_pn3n3_maCITEBziwv_zUEnYE7gobKk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,759</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7844">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefit_i01T_pn3n3_mtCITEBziwv_zrKwp8idMyIk" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Current Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,926</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,997</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zEA9BgMoDlAi" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Deferred Tax Expense (Benefit)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzABC_zcxWuP5IcOji" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 12.75pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7852">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7853">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzABC_zJz0FrhSJIP3" style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7855">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7856">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_pn3n3_mtDITEBzABC_zZyiBL8XHMh4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Total Deferred Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7858">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7859">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 167000 1997000 1759000 1926000 1997000 <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_pn3n3_z0rnCQXrKg27" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt"><b><span id="xdx_8B7_z0FWWxjUJt0f" style="display: none">Schedule of deferred tax expense benefits</span></b></td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260630_zNCrBJ9t9cC7" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20251231_z7fUP7pHA85j" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredIncomeTaxesAndOtherLiabilitiesAbstract_iB_zcR5m2qRNkRg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Deferred Income Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--UnrealizedGainOnInvestments_i01NI_pn3n3_di_maDTLzbRf_zDWGHga0UUBg" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; text-align: left; padding-bottom: 1pt; padding-left: 12.75pt">Unrealized Gain on Investments</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7866">—</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(357</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxLiabilities_i01NTI_pn3n3_di_mtDTLzbRf_maDITLNzh9q_z91tg3iUjFse" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Subtotal Deferred Income Tax Liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7869">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(357</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zvXZQGetkWn8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Deferred Income Tax Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--CapitalizedOrganizationCosts_i01I_pn3n3_maDITANze6X_zl4b9z421O9h" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 12.75pt">Capitalized Organization Costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7875">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">92</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredIncomeTaxAssetsNet_i01TI_pn3n3_mtDITANze6X_msDITLNzh9q_zmeejuQFSzmg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Subtotal Deferred Income Tax Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7878">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">92</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredIncomeTaxLiabilitiesNet_i01NTI_pn3n3_di_mtDITLNzh9q_z8Wgg6p4h1Of" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Net Deferred Income Tax Asset (Liability)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7881">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(265</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> </table> 357000 357000 92000 92000 265000 <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_pn3n3_zJYbHRjGHKH5" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B6_zyeP6bkkm24a" style="display: none; text-align: left; padding-left: 12.75pt">Schedule of federal statutory rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2026</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Amount</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Percent</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; font-weight: bold; text-align: left; padding-left: 0pt">U.S. Federal Income Tax Expense At Statutory Rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20260101__20260630_pn3n3" title="U.S. Federal Income Tax Expense At Statutory Rate, Amount"><span style="-sec-ix-hidden: xdx2ixbrl7886">—</span></span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20260101__20260630_zXyviT3GEct8" title="U.S. Federal Income Tax Expense At Statutory Rate, Percent"><span style="-sec-ix-hidden: xdx2ixbrl7888">—</span></span>%</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 12.75pt">U.S. state income taxes <sup id="xdx_F4D_zPFKiUGrHlC7">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20260101__20260630_pn3n3" title="U.S. state income taxes, Amount"><span style="-sec-ix-hidden: xdx2ixbrl7890">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_c20260101__20260630_zVL7y5xZ2qyj" title="U.S. state income taxes, Percent"><span style="-sec-ix-hidden: xdx2ixbrl7892">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Non-Taxable Or Non-Deductible Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_ecustom--Other_c20260101__20260630_pn3n3" title="Other">1,926</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_ecustom--EffectiveIncomeTaxRateReconciliationAtOtherRate_pid_dp_c20260101__20260630_zm8X399Nh1ed" title="Other, percent">31</span>%</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Current Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--IncomeTaxExpenseBenefit_c20260101__20260630_pn3n3" title="Total Current Tax Expense (Benefit)">1,926</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_ecustom--EffectiveIncomeTaxRateReconciliationAtCurrentIncomeTaxRate_pid_dp_c20260101__20260630_zP8AyFxynmE5" title="Total Current Tax Expense (Benefit), Percent">31</span><b>%</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2025</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Amount</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Percent</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; font-weight: bold; text-align: left; padding-left: 0pt">U.S. Federal Income Tax Expense At Statutory Rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_902_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20250101__20250630_pn3n3" title="U.S. Federal Income Tax Expense At Statutory Rate, Amount">1,997</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20250101__20250630_zQv4F92beQKk" title="U.S. Federal Income Tax Expense At Statutory Rate, Percent">21</span>%</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 12.75pt">U.S. state income taxes <sup id="xdx_F4D_zWsGwRc8IgH7">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20250101__20250630_pn3n3" title="U.S. state income taxes, Amount"><span style="-sec-ix-hidden: xdx2ixbrl7906">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_c20250101__20250630_zTNGA7ur3o38" title="U.S. state income taxes, Percent"><span style="-sec-ix-hidden: xdx2ixbrl7908">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-left: 0pt">Non-Taxable Or Non-Deductible Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--Other_c20250101__20250630_pn3n3" title="Other"><span style="-sec-ix-hidden: xdx2ixbrl7910">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--EffectiveIncomeTaxRateReconciliationAtOtherRate_pid_dp_c20250101__20250630_zjABSiEnlDHh" title="Other, percent"><span style="-sec-ix-hidden: xdx2ixbrl7912">—</span></span>%</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Current Tax Expense (Benefit)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--IncomeTaxExpenseBenefit_c20250101__20250630_pn3n3" title="Total Current Tax Expense (Benefit)">1,997</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_ecustom--EffectiveIncomeTaxRateReconciliationAtCurrentIncomeTaxRate_pid_dp_c20250101__20250630_zddX7n3XyCie" title="Total Current Tax Expense (Benefit), Percent">21</span><b>%</b></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> </table> 1926000 0.31 1926000 0.31 1997000 0.21 1997000 0.21 <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfIncomeTaxPaidByJurisdictionTableTextBlock_pn3n3_zSySsIvjTyWl" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Tax Information (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt"><span id="xdx_8B8_zzcGBvsFkEX9" style="display: none">Schedule of income tax paid by jurisdiction</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2026</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>June 30, 2025</b></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%; font-weight: bold; text-align: left; padding-left: 0pt">U.S. Federal</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--IncomeTaxesPaidNet_c20260101__20260630__us-gaap--IncomeTaxAuthorityAxis__custom--USFederalMember_pn3n3" title="Income Tax Paid">5,000</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_901_eus-gaap--IncomeTaxesPaidNet_c20250101__20250630__us-gaap--IncomeTaxAuthorityAxis__custom--USFederalMember_pn3n3" title="Income Tax Paid">2,025</span></td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 12.75pt">U.S. State<sup>(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--IncomeTaxesPaidNet_pn3n3_c20260101__20260630__us-gaap--IncomeTaxAuthorityAxis__custom--USStateMember_fKDEp_zi4zATJxgOPa" title="Income Tax Paid">1,759</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--IncomeTaxesPaidNet_pn3n3_c20250101__20250630__us-gaap--IncomeTaxAuthorityAxis__custom--USStateMember_fKDEp_zNY4ruZRHup6" title="Income Tax Paid"><span style="-sec-ix-hidden: xdx2ixbrl7926">—</span></span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt">Total Income Taxes Paid</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90F_eus-gaap--IncomeTaxesPaidNet_c20260101__20260630_pn3n3" title="Income Tax Paid">6,759</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--IncomeTaxesPaidNet_c20250101__20250630_pn3n3" title="Income Tax Paid">2,025</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0pt"></td><td style="width: 20pt; text-align: left"><sup id="xdx_F08_zFmfjEngcix5">(1)</sup></td><td id="xdx_F10_zeHmYpOC9e4l" style="text-align: justify">State cash tax paid is not applicable as there are no state filing requirements for the Fund as of June 30, 2026, nor were any state filing requirements identified as of June 30, 2025. The above amount represents the state extensions paid in anticipation of tax year 2025 filing requirements for the Fund.</td> </tr></table> 5000000 2025000 1759000 6759000 2025000 Fund had $11.6 million in distributions declared of which $10.0 million is characterized as qualified interest income and $1.6 million is, characterized as ordinary dividends. <p id="xdx_80F_eus-gaap--InvestmentCompanyFinancialHighlightsTextBlock_zIp6FoyRHdb" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 12. <span id="xdx_822_zvdrTJTv6aOd">Consolidated Financial Highlights</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is the schedule of financial highlights of the Fund for the six months ended June 30, 2026, and June 30, 2025:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfFinancialHighlightsTableTextBlock_pn3n3_zNBKmlI53KLg" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Consolidated Financial Highlights (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_zxQ7YFLpHr23" style="display: none; text-align: left; padding-left: 0.25in">Schedule of financial highlights</td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_z2enqv6fl0gi" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_znWP5enfD5u6" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/>June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/>June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class I</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"><b>Per Unit Data:</b> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetAssetValuePerShare_iS_pid_z44TVpTPIJC6" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%">Net asset value, beginning of period <sup id="xdx_F48_zCRlvkgBbvSk" style="display: none">(1)</sup></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1.52</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1.54</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IssuanceOfUnits_pid_zNpGMlFHgpU5" style="vertical-align: bottom; background-color: White"> <td>Issuance of units <sup id="xdx_F42_zOO52wbyYVGe" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7943">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7944">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--IncomeFromInvestmentOperationsAbstract_iB_zhRUuhFLgH1b" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Income from investment operations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NetInvestmentIncomePerShare_pid_z6xeOg5SAIcj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in">Net investment income (loss)<sup>(2)</sup> <sup id="xdx_F43_zYFHhRCIxkkc" style="display: none">(1)(2)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.06</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NetRealizedAndUnrealizedGainsLossesOnInvestments_pid_zgfZLyAX73Lc" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Net realized and unrealized gains (losses) on investments<sup>(2)(3) </sup><sup id="xdx_F48_zMtZGMVobGH5" style="display: none">(1)(2)(3)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.01</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_pid_zSRuPvmGCoUc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net increase (decrease) in net assets resulting from operations <sup id="xdx_F4E_zRSqsQIbI8h9" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InvestmentCompanyTaxReturnOfCapitalDistributionPerShare_pid_z9Nb3OD0cfy9" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Distributions to members<sup>(4)</sup> <sup id="xdx_F47_zfW1wkvIpHck" style="display: none">(1)(4)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7959">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_pid_zWcN4tlnm2W5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total increase (decrease) in net assets <sup id="xdx_F43_z2wtsAZAzgH8" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetAssetValuePerShare_iE_pid_zbPqEqcLtghh" style="vertical-align: bottom; background-color: Gainsboro"> <td>Net asset value, end of period <sup id="xdx_F43_zsjvmhoz6ja2" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.49</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.60</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--WeightedAverageCommonSharesOutstanding_pid_zMeqdEE6azh6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Units outstanding, end of period<sup>(1)</sup> <sup id="xdx_F4E_zQdsSXW83TGd" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">211,076,548</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,437,175</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InvestmentCompanyTotalReturn_pid_dp_zv0GSZWKWDH6" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Total return based on NAV <sup>(5)(6)</sup> <sup id="xdx_F4D_zgwli1y3Bkjh" style="display: none">(1)(2)(5)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.13</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.64</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--RatiosupplementalDataAbstract_iB_zXoxakEYLrta" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left">Ratio/Supplemental Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NetAssetsEndOfPeriod_pid_z1HvtMwD8f6c" style="vertical-align: bottom; background-color: White"> <td>Net assets, end of period <sup id="xdx_F4E_zrFfWFHxwIE6" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">315,240</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">216,893</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentCompanyExpenseRatioExcludingIncentiveFee_pid_dp_z0V9ie9y2Ga7" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of total expenses before incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F49_z37exaofzFQ8" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.65</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.09</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--InvestmentCompanyExpenseRatioIncludingIncentiveFee_pid_dp_zkU3xmqIBulj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of total expenses after incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F46_zmYZPCyVHdb1" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.65</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.27</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver_pid_dp_zN1Zs3l02Nzb" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of net investment income (loss) before waivers to average net assets<sup>(7) </sup><sup id="xdx_F4E_zKGT4hklLN6k" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.08</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.13</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--InvestmentCompanyIncentiveFeeToAverageNetAssets_pid_dp_zcAeAw582uad" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of net investment income (loss) after waivers to average net assets<sup>(7)</sup> <sup id="xdx_F46_zlGip5jBffsh" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.08</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.13</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--InvestmentCompanyExpenseRatioBeforeIncentiveAllocation_pid_dp_zgbZOS99ZJD" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of incentive fees to average net assets<sup>(6)</sup> <sup id="xdx_F43_zfsUj8FGtYY9" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">   <span style="-sec-ix-hidden: xdx2ixbrl7991">—</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.18</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--InvestmentCompanyPortfolioTurnover_pid_dp_zZI6sFqkk5Xl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Portfolio turnover rate<sup>(6)</sup> <sup id="xdx_F4D_zkHZxdPGQ40b" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.32</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.39</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40A_ecustom--InvestmentCompanyAssetCoverageRatio_pid_dp_zsgaB2DEL1x4" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Asset coverage ratio<sup>(8)</sup> <sup id="xdx_F4A_z5wLGHTlcpM1" style="display: none">(1)(8)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247.48</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205.29</td><td style="white-space: nowrap; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <div style="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td><span id="xdx_F06_zPh9S3nZz2P" style="font-family: Times New Roman, Times, Serif">(1)</span></td> <td id="xdx_F16_zPS6bvJs3B0k" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the per unit data and units outstanding have been adjusted retroactively to reflect the split for all periods presented.</td></tr> <tr style="vertical-align: top"> <td style="width: 20pt"><span id="xdx_F04_zt9xkyKHMkI9" style="font-family: Times New Roman, Times, Serif">(2)</span></td> <td id="xdx_F1E_zv2cNKpuAwa9" style="text-align: justify">The per unit data was derived by using the weighted average units outstanding during the applicable period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F08_zfvNNVtY9iOl" style="font-family: Times New Roman, Times, Serif">(3)</span></td> <td id="xdx_F1E_zm52ba4PsaZa" style="text-align: justify">Net realized and unrealized gains and losses per unit in this caption are balancing amounts necessary to reconcile the change in net asset value (“NAV”) per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to unit transactions during the period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F0F_zYT9MtfmRNzk" style="font-family: Times New Roman, Times, Serif">(4)</span></td> <td id="xdx_F1A_zoPb5v8xQaPl" style="text-align: justify">The per unit data for distributions is the actual amount of distributions paid or payable per common unit outstanding during the entire period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F0A_zRKMoinkXQR3" style="font-family: Times New Roman, Times, Serif">(5)</span></td> <td id="xdx_F14_zVHVD8yXI7r8" style="text-align: justify">Total return based on NAV is calculated as the change in NAV per unit during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Fund’s dividend reinvestment plan.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_zmtW68lZiwGd" style="font-family: Times New Roman, Times, Serif">(6)</span></td> <td id="xdx_F1B_zNXj3COkFDD2" style="text-align: justify">Not annualized.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_z9QjlUPcPaV3" style="font-family: Times New Roman, Times, Serif">(7)</span></td> <td id="xdx_F1D_zuRYxs4toyf" style="text-align: justify">Annualized, except for incentive fees.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F08_zdOXI6LBBhxd" style="font-family: Times New Roman, Times, Serif">(8)</span></td> <td id="xdx_F1A_z6XsspUeTlbf" style="text-align: justify">Asset coverage ratio is equal to (i) total assets, less liabilities excluding indebtedness represented by senior securities, divided by (ii) the aggregate amount of senior securities representing indebtedness at the end of the period.</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zkFWrH7CMlU3" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>For the period from<br/> January 1, 2026<sup id="xdx_F54_zkNFQeMTTyMa">(9)</sup> to</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>June 30, 2026</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: normal; text-align: left"><b>Class M</b></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"><b>Per Unit Data:</b> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NetAssetValuePerShare_iS_pid_zc0Qd7VR5Yof" style="vertical-align: bottom; background-color: Gainsboro"> <td>Net asset value, beginning of period <sup id="xdx_F46_zW8fviu3Wa92" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl8008">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--IssuanceOfUnits_pid_z5a2LxHgteNj" style="vertical-align: bottom; background-color: White"> <td style="width: 85%">Issuance of units <sup id="xdx_F42_zEPDE9r7bSO7" style="display: none">(1)</sup></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1.52</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--IncomeFromInvestmentOperationsAbstract_iB_z9WVSylM2OXk" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Income from investment operations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--NetInvestmentIncomePerShare_pid_zD9ihb4EZIy3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in">Net investment income (loss)<sup>(2)</sup> <sup id="xdx_F49_zslpeMCajgrg" style="display: none">(1)(2)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.05</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--NetRealizedAndUnrealizedGainsLossesOnInvestments_pid_zuv9sMRH1x67" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Net realized and unrealized gains (losses) on investments<sup>(2)(3) </sup><sup id="xdx_F43_zYbwcTzCMH25" style="display: none">(1)(2)(3)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.02</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_pid_zRhsZRA7aad7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net increase (decrease) in net assets resulting from operations <sup id="xdx_F4E_zuMjDS1jofRf" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InvestmentCompanyTaxReturnOfCapitalDistributionPerShare_pid_z6SmwQ2omGpe" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Distributions to members<sup>(4)</sup> <sup id="xdx_F4D_zpTMH1pCqeM7" style="display: none">(1)(4)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_pid_zWg590roUUyj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total increase (decrease) in net assets <sup id="xdx_F4F_zM8hU6yObxf7" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--NetAssetValuePerShare_iE_pid_zWR4tPxP61j" style="vertical-align: bottom; background-color: Gainsboro"> <td>Net asset value, end of period <sup id="xdx_F4F_z0a3bmWW06Th" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.49</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--WeightedAverageCommonSharesOutstanding_pid_zz09Lyr1J7lh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Units outstanding, end of period<sup>(1)</sup> <sup id="xdx_F4A_z9u1g6bJrdb8" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,174</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InvestmentCompanyTotalReturn_pid_dp_zoRCXDLtpxjj" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Total return based on NAV <sup>(5)(6)</sup> <sup id="xdx_F4F_zRl1AsjngLX1" style="display: none">(1)(5)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.13</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RatiosupplementalDataAbstract_iB_zhowC9sbBsMk" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left">Ratio/Supplemental Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--NetAssetsEndOfPeriod_pn3n3_za9XhWhAGRZd" style="vertical-align: bottom; background-color: White"> <td>Net assets, end of period <sup id="xdx_F48_zTSezFkjGnW8" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">368</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentCompanyExpenseRatioExcludingIncentiveFee_pid_dp_zLA1Pj8PoXc2" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of total expenses before incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F49_zBsEFyeaKgRa" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.10</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--InvestmentCompanyExpenseRatioIncludingIncentiveFee_pid_dp_zbU015xaEwl1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of total expenses after incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F4F_zzESacIg0xEf" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.10</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver_pid_dp_zkxDxbOD1qg5" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of net investment income (loss) before waivers to average net assets<sup>(7)</sup> <sup id="xdx_F47_zcDXW72inW56" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.11</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--InvestmentCompanyIncentiveFeeToAverageNetAssets_pid_dp_zHd7srwCewI2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of net investment income (loss) after waivers to average net assets<sup>(7)</sup> <sup id="xdx_F4E_zdRfgPYabYXl" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.11</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--InvestmentCompanyExpenseRatioBeforeIncentiveAllocation_pid_dp_zBnGQ8k1DG0b" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of incentive fees to average net assets<sup>(6)</sup> <sup id="xdx_F47_z8BRmen9NBha" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">  <span style="-sec-ix-hidden: xdx2ixbrl8042">—</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--InvestmentCompanyPortfolioTurnover_pid_dp_zdyMKB35UPCi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Portfolio turnover rate<sup>(6)</sup> <sup id="xdx_F44_z2CedoKx5sbg" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.32</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40A_ecustom--InvestmentCompanyAssetCoverageRatio_pid_dp_zTNo6bachJsi" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Asset coverage ratio<sup>(8)</sup> <sup id="xdx_F4B_z9alBKMZt8Ra" style="display: none">(1)(8)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247.48</td><td style="white-space: nowrap; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <div style="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td><span id="xdx_F07_zcBTm0u6bQT8" style="font-family: Times New Roman, Times, Serif">(1)</span></td> <td id="xdx_F1F_zWnyUf55hkSd" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the per unit data and units outstanding have been adjusted retroactively to reflect the split for all periods presented.</td></tr> <tr style="vertical-align: top"> <td style="width: 20pt"><span id="xdx_F07_z4LGiDMT1u79" style="font-family: Times New Roman, Times, Serif">(2)</span></td> <td id="xdx_F11_zAdr93qf47Tl" style="text-align: justify">The per unit data was derived by using the weighted average units outstanding during the applicable period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_z4tzmjTFtvXf" style="font-family: Times New Roman, Times, Serif">(3)</span></td> <td id="xdx_F16_zoDWBYXy817h" style="text-align: justify">Net realized and unrealized gains and losses per unit in this caption are balancing amounts necessary to reconcile the change in net asset value (“NAV”) per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to unit transactions during the period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F03_zVPc1A2mMbN2" style="font-family: Times New Roman, Times, Serif">(4)</span></td> <td id="xdx_F1F_zpid1KjZ6Ji2" style="text-align: justify">The per unit data for distributions is the actual amount of distributions paid or payable per common unit outstanding during the entire period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F02_zazI8wGcY0zc" style="font-family: Times New Roman, Times, Serif">(5)</span></td> <td id="xdx_F15_zc9AWLCllVyl" style="text-align: justify">Total return based on NAV is calculated as the change in NAV per unit during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Fund’s dividend reinvestment plan.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_zzx01sG17wrf" style="font-family: Times New Roman, Times, Serif">(6)</span></td> <td id="xdx_F12_zwYJxj7ANDha" style="text-align: justify">Not annualized.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F0B_zXY5LqNolsc7" style="font-family: Times New Roman, Times, Serif">(7)</span></td> <td id="xdx_F1D_zsnObluYrvvi" style="text-align: justify">Annualized, except for incentive fees.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F00_z4w8jNR5lbA7" style="font-family: Times New Roman, Times, Serif">(8)</span></td> <td id="xdx_F17_zqK3lGBcewV9" style="text-align: justify">Asset coverage ratio is equal to (i) total assets, less liabilities excluding indebtedness represented by senior securities, divided by (ii) the aggregate amount of senior securities representing indebtedness at the end of the period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F03_zJB1nrqoZmg7" style="font-family: Times New Roman, Times, Serif">(9)</span></td> <td id="xdx_F16_zIHLfIrFq7ad" style="text-align: justify">Commencement of operations.</td></tr> </table> <p id="xdx_8A7_zIU5D1joYCz5" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfFinancialHighlightsTableTextBlock_pn3n3_zNBKmlI53KLg" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Consolidated Financial Highlights (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_zxQ7YFLpHr23" style="display: none; text-align: left; padding-left: 0.25in">Schedule of financial highlights</td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_z2enqv6fl0gi" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250101__20250630__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_znWP5enfD5u6" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/>June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended <br/>June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class I</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"><b>Per Unit Data:</b> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetAssetValuePerShare_iS_pid_z44TVpTPIJC6" style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 70%">Net asset value, beginning of period <sup id="xdx_F48_zCRlvkgBbvSk" style="display: none">(1)</sup></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1.52</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1.54</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IssuanceOfUnits_pid_zNpGMlFHgpU5" style="vertical-align: bottom; background-color: White"> <td>Issuance of units <sup id="xdx_F42_zOO52wbyYVGe" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7943">—</span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7944">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--IncomeFromInvestmentOperationsAbstract_iB_zhRUuhFLgH1b" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Income from investment operations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NetInvestmentIncomePerShare_pid_z6xeOg5SAIcj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in">Net investment income (loss)<sup>(2)</sup> <sup id="xdx_F43_zYFHhRCIxkkc" style="display: none">(1)(2)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.06</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NetRealizedAndUnrealizedGainsLossesOnInvestments_pid_zgfZLyAX73Lc" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Net realized and unrealized gains (losses) on investments<sup>(2)(3) </sup><sup id="xdx_F48_zMtZGMVobGH5" style="display: none">(1)(2)(3)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.01</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_pid_zSRuPvmGCoUc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net increase (decrease) in net assets resulting from operations <sup id="xdx_F4E_zRSqsQIbI8h9" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InvestmentCompanyTaxReturnOfCapitalDistributionPerShare_pid_z9Nb3OD0cfy9" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Distributions to members<sup>(4)</sup> <sup id="xdx_F47_zfW1wkvIpHck" style="display: none">(1)(4)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7959">—</span></td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_pid_zWcN4tlnm2W5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total increase (decrease) in net assets <sup id="xdx_F43_z2wtsAZAzgH8" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetAssetValuePerShare_iE_pid_zbPqEqcLtghh" style="vertical-align: bottom; background-color: Gainsboro"> <td>Net asset value, end of period <sup id="xdx_F43_zsjvmhoz6ja2" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.49</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.60</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--WeightedAverageCommonSharesOutstanding_pid_zMeqdEE6azh6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Units outstanding, end of period<sup>(1)</sup> <sup id="xdx_F4E_zQdsSXW83TGd" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">211,076,548</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,437,175</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InvestmentCompanyTotalReturn_pid_dp_zv0GSZWKWDH6" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Total return based on NAV <sup>(5)(6)</sup> <sup id="xdx_F4D_zgwli1y3Bkjh" style="display: none">(1)(2)(5)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.13</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.64</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--RatiosupplementalDataAbstract_iB_zXoxakEYLrta" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left">Ratio/Supplemental Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NetAssetsEndOfPeriod_pid_z1HvtMwD8f6c" style="vertical-align: bottom; background-color: White"> <td>Net assets, end of period <sup id="xdx_F4E_zrFfWFHxwIE6" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">315,240</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">216,893</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentCompanyExpenseRatioExcludingIncentiveFee_pid_dp_z0V9ie9y2Ga7" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of total expenses before incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F49_z37exaofzFQ8" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.65</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.09</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--InvestmentCompanyExpenseRatioIncludingIncentiveFee_pid_dp_zkU3xmqIBulj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of total expenses after incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F46_zmYZPCyVHdb1" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.65</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.27</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver_pid_dp_zN1Zs3l02Nzb" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of net investment income (loss) before waivers to average net assets<sup>(7) </sup><sup id="xdx_F4E_zKGT4hklLN6k" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.08</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.13</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--InvestmentCompanyIncentiveFeeToAverageNetAssets_pid_dp_zcAeAw582uad" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of net investment income (loss) after waivers to average net assets<sup>(7)</sup> <sup id="xdx_F46_zlGip5jBffsh" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.08</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.13</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--InvestmentCompanyExpenseRatioBeforeIncentiveAllocation_pid_dp_zgbZOS99ZJD" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of incentive fees to average net assets<sup>(6)</sup> <sup id="xdx_F43_zfsUj8FGtYY9" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">   <span style="-sec-ix-hidden: xdx2ixbrl7991">—</span></td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.18</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--InvestmentCompanyPortfolioTurnover_pid_dp_zZI6sFqkk5Xl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Portfolio turnover rate<sup>(6)</sup> <sup id="xdx_F4D_zkHZxdPGQ40b" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.32</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.39</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40A_ecustom--InvestmentCompanyAssetCoverageRatio_pid_dp_zsgaB2DEL1x4" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Asset coverage ratio<sup>(8)</sup> <sup id="xdx_F4A_z5wLGHTlcpM1" style="display: none">(1)(8)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247.48</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205.29</td><td style="white-space: nowrap; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <div style="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td><span id="xdx_F06_zPh9S3nZz2P" style="font-family: Times New Roman, Times, Serif">(1)</span></td> <td id="xdx_F16_zPS6bvJs3B0k" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the per unit data and units outstanding have been adjusted retroactively to reflect the split for all periods presented.</td></tr> <tr style="vertical-align: top"> <td style="width: 20pt"><span id="xdx_F04_zt9xkyKHMkI9" style="font-family: Times New Roman, Times, Serif">(2)</span></td> <td id="xdx_F1E_zv2cNKpuAwa9" style="text-align: justify">The per unit data was derived by using the weighted average units outstanding during the applicable period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F08_zfvNNVtY9iOl" style="font-family: Times New Roman, Times, Serif">(3)</span></td> <td id="xdx_F1E_zm52ba4PsaZa" style="text-align: justify">Net realized and unrealized gains and losses per unit in this caption are balancing amounts necessary to reconcile the change in net asset value (“NAV”) per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to unit transactions during the period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F0F_zYT9MtfmRNzk" style="font-family: Times New Roman, Times, Serif">(4)</span></td> <td id="xdx_F1A_zoPb5v8xQaPl" style="text-align: justify">The per unit data for distributions is the actual amount of distributions paid or payable per common unit outstanding during the entire period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F0A_zRKMoinkXQR3" style="font-family: Times New Roman, Times, Serif">(5)</span></td> <td id="xdx_F14_zVHVD8yXI7r8" style="text-align: justify">Total return based on NAV is calculated as the change in NAV per unit during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Fund’s dividend reinvestment plan.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_zmtW68lZiwGd" style="font-family: Times New Roman, Times, Serif">(6)</span></td> <td id="xdx_F1B_zNXj3COkFDD2" style="text-align: justify">Not annualized.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_z9QjlUPcPaV3" style="font-family: Times New Roman, Times, Serif">(7)</span></td> <td id="xdx_F1D_zuRYxs4toyf" style="text-align: justify">Annualized, except for incentive fees.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F08_zdOXI6LBBhxd" style="font-family: Times New Roman, Times, Serif">(8)</span></td> <td id="xdx_F1A_z6XsspUeTlbf" style="text-align: justify">Asset coverage ratio is equal to (i) total assets, less liabilities excluding indebtedness represented by senior securities, divided by (ii) the aggregate amount of senior securities representing indebtedness at the end of the period.</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zkFWrH7CMlU3" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>For the period from<br/> January 1, 2026<sup id="xdx_F54_zkNFQeMTTyMa">(9)</sup> to</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>June 30, 2026</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: normal; text-align: left"><b>Class M</b></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"><b>Per Unit Data:</b> <sup>(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NetAssetValuePerShare_iS_pid_zc0Qd7VR5Yof" style="vertical-align: bottom; background-color: Gainsboro"> <td>Net asset value, beginning of period <sup id="xdx_F46_zW8fviu3Wa92" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl8008">—</span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--IssuanceOfUnits_pid_z5a2LxHgteNj" style="vertical-align: bottom; background-color: White"> <td style="width: 85%">Issuance of units <sup id="xdx_F42_zEPDE9r7bSO7" style="display: none">(1)</sup></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1.52</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--IncomeFromInvestmentOperationsAbstract_iB_z9WVSylM2OXk" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Income from investment operations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--NetInvestmentIncomePerShare_pid_zD9ihb4EZIy3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in">Net investment income (loss)<sup>(2)</sup> <sup id="xdx_F49_zslpeMCajgrg" style="display: none">(1)(2)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.05</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--NetRealizedAndUnrealizedGainsLossesOnInvestments_pid_zuv9sMRH1x67" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Net realized and unrealized gains (losses) on investments<sup>(2)(3) </sup><sup id="xdx_F43_zYbwcTzCMH25" style="display: none">(1)(2)(3)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.02</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_pid_zRhsZRA7aad7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net increase (decrease) in net assets resulting from operations <sup id="xdx_F4E_zuMjDS1jofRf" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InvestmentCompanyTaxReturnOfCapitalDistributionPerShare_pid_z6SmwQ2omGpe" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left; padding-bottom: 1pt">Distributions to members<sup>(4)</sup> <sup id="xdx_F4D_zpTMH1pCqeM7" style="display: none">(1)(4)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.06</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_pid_zWg590roUUyj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total increase (decrease) in net assets <sup id="xdx_F4F_zM8hU6yObxf7" style="display: none">(1)</sup></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(0.03</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--NetAssetValuePerShare_iE_pid_zWR4tPxP61j" style="vertical-align: bottom; background-color: Gainsboro"> <td>Net asset value, end of period <sup id="xdx_F4F_z0a3bmWW06Th" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.49</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--WeightedAverageCommonSharesOutstanding_pid_zz09Lyr1J7lh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Units outstanding, end of period<sup>(1)</sup> <sup id="xdx_F4A_z9u1g6bJrdb8" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,174</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InvestmentCompanyTotalReturn_pid_dp_zoRCXDLtpxjj" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Total return based on NAV <sup>(5)(6)</sup> <sup id="xdx_F4F_zRl1AsjngLX1" style="display: none">(1)(5)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.13</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RatiosupplementalDataAbstract_iB_zhowC9sbBsMk" style="vertical-align: bottom; background-color: Gainsboro"> <td style="font-weight: bold; text-align: left">Ratio/Supplemental Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--NetAssetsEndOfPeriod_pn3n3_za9XhWhAGRZd" style="vertical-align: bottom; background-color: White"> <td>Net assets, end of period <sup id="xdx_F48_zTSezFkjGnW8" style="display: none">(1)</sup></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">368</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentCompanyExpenseRatioExcludingIncentiveFee_pid_dp_zLA1Pj8PoXc2" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of total expenses before incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F49_zBsEFyeaKgRa" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.10</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--InvestmentCompanyExpenseRatioIncludingIncentiveFee_pid_dp_zbU015xaEwl1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of total expenses after incentive fees to average net assets<sup>(7)</sup> <sup id="xdx_F4F_zzESacIg0xEf" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.10</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver_pid_dp_zkxDxbOD1qg5" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of net investment income (loss) before waivers to average net assets<sup>(7)</sup> <sup id="xdx_F47_zcDXW72inW56" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.11</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--InvestmentCompanyIncentiveFeeToAverageNetAssets_pid_dp_zHd7srwCewI2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ratio of net investment income (loss) after waivers to average net assets<sup>(7)</sup> <sup id="xdx_F4E_zdRfgPYabYXl" style="display: none">(1)(7)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.11</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--InvestmentCompanyExpenseRatioBeforeIncentiveAllocation_pid_dp_zBnGQ8k1DG0b" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Ratio of incentive fees to average net assets<sup>(6)</sup> <sup id="xdx_F47_z8BRmen9NBha" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">  <span style="-sec-ix-hidden: xdx2ixbrl8042">—</span></td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--InvestmentCompanyPortfolioTurnover_pid_dp_zdyMKB35UPCi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Portfolio turnover rate<sup>(6)</sup> <sup id="xdx_F44_z2CedoKx5sbg" style="display: none">(1)(6)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.32</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_40A_ecustom--InvestmentCompanyAssetCoverageRatio_pid_dp_zTNo6bachJsi" style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Asset coverage ratio<sup>(8)</sup> <sup id="xdx_F4B_z9alBKMZt8Ra" style="display: none">(1)(8)</sup></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247.48</td><td style="white-space: nowrap; text-align: left">%</td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <div style="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td><span id="xdx_F07_zcBTm0u6bQT8" style="font-family: Times New Roman, Times, Serif">(1)</span></td> <td id="xdx_F1F_zWnyUf55hkSd" style="text-align: justify">The Fund completed a 5-for-1 stock split effective February 27, 2026, the per unit data and units outstanding have been adjusted retroactively to reflect the split for all periods presented.</td></tr> <tr style="vertical-align: top"> <td style="width: 20pt"><span id="xdx_F07_z4LGiDMT1u79" style="font-family: Times New Roman, Times, Serif">(2)</span></td> <td id="xdx_F11_zAdr93qf47Tl" style="text-align: justify">The per unit data was derived by using the weighted average units outstanding during the applicable period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_z4tzmjTFtvXf" style="font-family: Times New Roman, Times, Serif">(3)</span></td> <td id="xdx_F16_zoDWBYXy817h" style="text-align: justify">Net realized and unrealized gains and losses per unit in this caption are balancing amounts necessary to reconcile the change in net asset value (“NAV”) per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to unit transactions during the period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F03_zVPc1A2mMbN2" style="font-family: Times New Roman, Times, Serif">(4)</span></td> <td id="xdx_F1F_zpid1KjZ6Ji2" style="text-align: justify">The per unit data for distributions is the actual amount of distributions paid or payable per common unit outstanding during the entire period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F02_zazI8wGcY0zc" style="font-family: Times New Roman, Times, Serif">(5)</span></td> <td id="xdx_F15_zc9AWLCllVyl" style="text-align: justify">Total return based on NAV is calculated as the change in NAV per unit during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Fund’s dividend reinvestment plan.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F07_zzx01sG17wrf" style="font-family: Times New Roman, Times, Serif">(6)</span></td> <td id="xdx_F12_zwYJxj7ANDha" style="text-align: justify">Not annualized.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F0B_zXY5LqNolsc7" style="font-family: Times New Roman, Times, Serif">(7)</span></td> <td id="xdx_F1D_zsnObluYrvvi" style="text-align: justify">Annualized, except for incentive fees.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F00_z4w8jNR5lbA7" style="font-family: Times New Roman, Times, Serif">(8)</span></td> <td id="xdx_F17_zqK3lGBcewV9" style="text-align: justify">Asset coverage ratio is equal to (i) total assets, less liabilities excluding indebtedness represented by senior securities, divided by (ii) the aggregate amount of senior securities representing indebtedness at the end of the period.</td></tr> <tr style="vertical-align: top"> <td><span id="xdx_F03_zJB1nrqoZmg7" style="font-family: Times New Roman, Times, Serif">(9)</span></td> <td id="xdx_F16_zIHLfIrFq7ad" style="text-align: justify">Commencement of operations.</td></tr> </table> 1.52 1.54 0.06 0.07 -0.03 -0.01 0.03 0.06 -0.06 -0.03 0.06 1.49 1.60 211076548 135437175 0.0213 0.0364 315240 216893 0.0765 0.1109 0.0765 0.1127 0.0808 0.0913 0.0808 0.0913 0.0018 0.0432 0.0539 2.4748 2.0529 1.52 0.05 -0.02 0.03 -0.06 -0.03 1.49 246174 0.0213 368000 0.0810 0.0810 0.0711 0.0711 0.0432 2.4748 <p id="xdx_80A_eus-gaap--SubsequentEventsTextBlock_zkAOdMGNlLj9" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Note 13. <span id="xdx_825_zTb29MoLxEk7">Subsequent Events</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund’s management evaluated subsequent events through the date of issuance of these consolidated financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in, these consolidated financial statements, except as discussed below.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span style="text-decoration: underline">Subscriptions</span></i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of July 1, 2026, the Fund sold its Class M and Class I units (the “Units”) as listed in the table below. The number of Units to be issued was finalized on July 24, 2026. The offer and sale of the Units was made pursuant to Section 4(a)(2) of the Securities Act, Regulation D promulgated thereunder and other available exemptions from the registration requirements of the Securities Act to investors who are “accredited investors” within the meaning of Regulation D under the Securities Act.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_888_ecustom--ScheduleOfSubscriptionsTabletextBlock_pn3n3_zqgtscmo3f9l" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Subsequent Events (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_zmzyGbyBe0zh" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of subscriptions</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold">Unit Class</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Class I</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--TotalSubscriptionsUnits_pid_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zXNmHtipYUvk" title="Total subscriptions, units"><span style="-sec-ix-hidden: xdx2ixbrl8061">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_905_ecustom--TotalSubscriptionsAmount_pn3n3_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zuOHV1zvGUl2" title="Total subscriptions, amount"><span style="-sec-ix-hidden: xdx2ixbrl8063">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; text-align: left; padding-bottom: 1pt">Class M</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_904_ecustom--TotalSubscriptionsUnits_pid_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zxtRlZ1MDlNc" title="Total subscriptions, units">131,244</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90A_ecustom--TotalSubscriptionsAmount_pn3n3_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zf2GW0qBOigc" title="Total subscriptions, amount">196</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_902_ecustom--TotalSubscriptionsUnits_pid_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_zETHlSMA9On4" title="Total subscriptions, units">131,244</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_907_ecustom--TotalSubscriptionsAmount_pn3n3_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_zhUxJugADsf3" title="Total subscriptions, amount">196</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_888_ecustom--ScheduleOfSubscriptionsTabletextBlock_pn3n3_zqgtscmo3f9l" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Subsequent Events (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_zmzyGbyBe0zh" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of subscriptions</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold">Unit Class</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">Class I</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--TotalSubscriptionsUnits_pid_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zXNmHtipYUvk" title="Total subscriptions, units"><span style="-sec-ix-hidden: xdx2ixbrl8061">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_905_ecustom--TotalSubscriptionsAmount_pn3n3_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassIMember_zuOHV1zvGUl2" title="Total subscriptions, amount"><span style="-sec-ix-hidden: xdx2ixbrl8063">—</span></span></td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; text-align: left; padding-bottom: 1pt">Class M</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_904_ecustom--TotalSubscriptionsUnits_pid_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zxtRlZ1MDlNc" title="Total subscriptions, units">131,244</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span id="xdx_90A_ecustom--TotalSubscriptionsAmount_pn3n3_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--ClassMMember_zf2GW0qBOigc" title="Total subscriptions, amount">196</span></td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_902_ecustom--TotalSubscriptionsUnits_pid_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_zETHlSMA9On4" title="Total subscriptions, units">131,244</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_907_ecustom--TotalSubscriptionsAmount_pn3n3_c20260629__20260701__us-gaap--TransactionTypeAxis__custom--SubscriptionAgreementsMember_zhUxJugADsf3" title="Total subscriptions, amount">196</span></td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 131244 196000 131244 196000 The Fund completed a 5-for-1 stock split effective February 27, 2026, the common units and net asset value per unit have been adjusted retroactively to reflect the split for all periods presented. The Fund completed a 5-for-1 stock split effective February 27, 2026, the weighted average units outstanding and per unit values have been adjusted retroactively to reflect the split for all periods presented. As of June 30, 2026, the balance includes $5,744 in cash, $8,209 in cash equivalents, and $157 in cash denominated in foreign currencies. As of June 30, 2025, the balance includes $4,382 in cash, $13,671 in cash equivalents, and $125 in cash denominated in foreign currencies. Unless otherwise indicated, investments held by the Fund (which such term “Fund” shall include the Fund’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in U.S.dollars ("$" or "USD"). All investments are income producing unless otherwise indicated. Certain portfolio company investments are subject to contractual restrictions on sales. The total par amount/units are presented for investments. Par amount is denominated in USD unless otherwise noted, Canadian Dollars (“CAD”). Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to either CORRA ("C"), SOFR ("S") or an alternate base rate (commonly based on the U.S. Prime Rate ("P"), each of which generally resets periodically. For each loan, the Fund has indicated the reference rate used and provided the spread and the interest rate in effect as of June 30, 2026. For investments with multiple reference rates or alternate base rates, the interest rate shown is the weighted average interest rate in effect at June 30, 2026. As of June 30, 2026, the reference rates for our variable rate loans were the 3-month C at 2.29%, 1-month S at 3.65%, 3-month S at 3.73%, 6-month S at 3.85%, and the P at 6.75%. Securities exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), and may be deemed to be “restricted securities”. As of June 30, 2026, the aggregate fair value of these securities is $520,571 or 164.94% of the Fund’s net assets. See Note 2 “Significant Accounting Policies.” The fair value of the investment was determined using significant unobservable inputs. See Note 5 “Fair Value Measurement”. The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940. The Fund may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Fund’s total assets. As of June 30, 2026, non-qualifying assets totaled 17.35% of the Fund’s total assets. The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on loan investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 7 “Commitments & Contingencies”. All or a portion of the interest on this position is paid-in-kind (PIK). See Note 2 “Significant Accounting Policies.” The investment is ongoing in nature with no contractual maturity date. Non-income producing. Unless otherwise indicated, investments held by the Fund (which such term “Fund” shall include the Fund’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in U.S. dollars ("$" or "USD"). All investments are income producing unless otherwise indicated. Certain portfolio company investments are subject to contractual restrictions on sales. The total par amount/units are presented for investments. Par amount is denominated in USD unless otherwise noted, Canadian Dollars (“CAD”). Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to either CORRA ("C"), SOFR ("S") or an alternate base rate (commonly based on the U.S. Prime Rate ("P"), each of which generally resets periodically. For each loan, the Fund has indicated the reference rate used and provided the spread and the interest rate in effect as of December 31, 2025. For investments with multiple reference rates or alternate base rates, the interest rate shown is the weighted average interest rate in effect at December 31, 2025. As of December 31, 2025, the reference rates for our variable rate loans were the 3-month C at 2.26%, 1-month S at 3.69%, 3-month S at 3.65%, 6-month S at 3.57%, and the P at 6.75%. Securities exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), and may be deemed to be “restricted securities”. As of December 31, 2025, the aggregate fair value of these securities is $458,346 or 166.77% of the Fund’s net assets. See Note 2 “Significant Accounting Policies.” The fair value of the investment was determined using significant unobservable inputs. See Note 5 “Fair Value Measurement”. The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940. The Fund may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Fund’s total assets. As of December 31, 2025, non-qualifying assets totaled 14.92% of the Fund’s total assets. The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on loan investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 7 “Commitments & Contingencies”. During the current period, the Fund updated the industry classification of these investments to better reflect their current business activities. Industry classifications presented for prior periods have not been revised. All or a portion of the interest on this position is paid-in-kind (PIK). The investment is ongoing in nature with no contractual maturity date. Non-income producing. For the three and six months ended June 30, 2026, there were no transfers into or out of Level 3. For the three and six months ended June 30, 2025, there were no transfers into or out of Level 3. Weighted averages are calculated based on fair value of investments. Carrying value of these debt obligations generally approximate fair value due to their variable interest rates. The fair value of these debt obligations would be categorized as Level 2 under ASC 820-10. The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented. The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented. The Fund completed a 5-for-1 stock split effective February 27, 2026, the units issued have been adjusted retroactively to reflect the split for all periods presented. The Fund completed a 5-for-1 stock split effective February 27, 2026, the weighted average units outstanding and per unit values have been adjusted retroactively to reflect the split for all periods presented. State cash tax paid is not applicable as there are no state filing requirements for the Fund as of June 30, 2026, nor were any state filing requirements identified as of June 30, 2025. The above amount represents the state extensions paid in anticipation of tax year 2025 filing requirements for the Fund. The Fund completed a 5-for-1 stock split effective February 27, 2026, the per unit data and units outstanding have been adjusted retroactively to reflect the split for all periods presented. The per unit data was derived by using the weighted average units outstanding during the applicable period. Net realized and unrealized gains and losses per unit in this caption are balancing amounts necessary to reconcile the change in net asset value (“NAV”) per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to unit transactions during the period. The per unit data for distributions is the actual amount of distributions paid or payable per common unit outstanding during the entire period. Total return based on NAV is calculated as the change in NAV per unit during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Fund’s dividend reinvestment plan. Not annualized. Annualized, except for incentive fees. Asset coverage ratio is equal to (i) total assets, less liabilities excluding indebtedness represented by senior securities, divided by (ii) the aggregate amount of senior securities representing indebtedness at the end of the period. The Fund completed a 5-for-1 stock split effective February 27, 2026, the per unit data and units outstanding have been adjusted retroactively to reflect the split for all periods presented. Commencement of operations. The per unit data was derived by using the weighted average units outstanding during the applicable period. Net realized and unrealized gains and losses per unit in this caption are balancing amounts necessary to reconcile the change in net asset value (“NAV”) per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to unit transactions during the period. The per unit data for distributions is the actual amount of distributions paid or payable per common unit outstanding during the entire period. Total return based on NAV is calculated as the change in NAV per unit during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Fund’s dividend reinvestment plan. Not annualized. Annualized, except for incentive fees. Asset coverage ratio is equal to (i) total assets, less liabilities excluding indebtedness represented by senior securities, divided by (ii) the aggregate amount of senior securities representing indebtedness at the end of the period.