Exhibit 99.1
Net Asset Value
We calculate net asset value per share in accordance with valuation policies and procedures that have been approved by the board of directors. GAAP net asset value (“GAAP Net Asset Value”) is the net asset value determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Transactional Net Asset Value is calculated by adjusting GAAP Net Asset Value as of each relevant valuation date for some or all of the following, as applicable, (i) the recognition of the shareholder servicing fees and distribution fees on a monthly basis as such fees are accrued, (ii) the exclusion of certain deferred tax liabilities that, although required to be recognized under GAAP, are not expected to be incurred by the Company based on anticipated income, available deductions and the timing of realization events, and (iii) the amortization of certain organizational and offering expenses over a 60-month period. The following table provides a breakdown of the major components of Transactional Net Asset Value as of July 31, 2026 ($ in thousands, except shares):
Components of Transactional Net Asset Value |
|
|
Investments at fair value (cost of $1,942,531) |
$ |
2,151,341 |
Cash and cash equivalents |
|
189,619 |
Foreign currencies at fair value (cost of $2,170) |
|
2,164 |
Other assets |
|
38,335 |
Derivative assets |
|
2,550 |
Derivative liabilities |
|
(4,594) |
Other liabilities |
|
(284,707) |
Accrued performance fee |
|
(6,495) |
Management fee payable |
|
(987) |
Transactional Net Asset Value |
$ |
2,087,226 |
Number of outstanding shares |
|
70,759,830 |
The following table provides a breakdown of total Transactional Net Asset Value and Transactional Net Asset Value per share by type as of July 31, 2026 ($ in thousands, except shares and per share data):
Type |
|
Monthly Transactional Net Asset Value |
|
|
Number of Outstanding Shares |
|
|
Transactional Net Asset Value per Share |
Series I |
|
|
|
|
|
|
|
|
A-II Shares |
$ |
428,957 |
|
|
14,817,395 |
|
$ |
28.95 |
F-I Shares |
$ |
81,802 |
|
|
2,879,758 |
|
$ |
28.41 |
V Shares |
$ |
1 |
|
|
40 |
|
$ |
25.00 |
E Shares |
$ |
2,630 |
|
|
89,262 |
|
$ |
29.46 |
I Shares |
$ |
78,562 |
|
|
2,771,540 |
|
$ |
28.35 |
S Shares |
$ |
3 |
|
|
110 |
|
$ |
28.32 |
Series II |
|
|
|
|
|
|
|
|
A-II Shares |
$ |
1,403,139 |
|
|
47,054,711 |
|
$ |
29.82 |
F-I Shares |
$ |
73,555 |
|
|
2,513,994 |
|
$ |
29.26 |
V Shares |
$ |
1 |
|
|
40 |
|
$ |
25.00 |
E Shares |
$ |
1,967 |
|
|
64,809 |
|
$ |
30.36 |
I Shares |
$ |
16,606 |
|
|
568,061 |
|
$ |
29.23 |
S Shares |
$ |
3 |
|
|
110 |
|
$ |
29.20 |
Total |
|
2,087,226 |
|
|
70,759,830 |
|
|
|