EQUITY AND EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Aggregate Distributions Declared

The following tables detail the net distributions declared for each applicable class of common shares. Class J and Class E shares are not subject to a servicing fee. There were no distributions declared or paid for the same periods disclosed on the equity tables in the prior year.


	Three Months Ended September 30, 2026
	Class J		Class E


Net Distributions Declared per Common Share	$	0.5100	$	0.5100


	Nine Months Ended September 30, 2026
	Class J		Class E


Net Distributions Declared per Common Share	$	1.5300	$	1.5300

Schedule of Basic and Diluted EPS

The following table summarizes the basic and diluted earnings per share calculations:


	Three Months Ended September 30,		For the Period of July 31, 2025 (date of formation) through September 30,	Nine Months Ended September 30,		For the Period of July 31, 2025 (date of formation) through September 30,
	2026			2025		2026		2025
Net Income by Class of Common Share:
Class J basic and diluted	$	4,245		$	—	$	8,232	$	—
Class E basic and diluted	234			—(1)		447		—(1)

Weighted Average Number of Common Shares Outstanding:
Class J basic and diluted	7,491,418			—		5,965,039		—
Class E basic	382,073			100		286,578		100
Effect of dilutive Class E unvested shares	9,750			—		9,750		—
Class E diluted	391,823			100		296,328		100

Net Income per Common Share:
Class J basic and diluted	$	0.57		$	—	$	1.38	$	—
Class E basic	0.61			0.04		1.56		0.04
Class E diluted	0.60			0.04		1.51		0.04

(1)Amount is presented as zero as it is less than one thousand.