Net Assets |
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| Net Assets | Note 8. Net Assets Unregistered Sales of Equity Securities As of September 30, 2026, the Company had the authority to issue an unlimited number of Shares at $0.001 par value per Share. The following table summarizes the Company’s Share issuances since inception through September 30, 2026.
(1)Shares were issued to Members participating in the Company’s DRP The sales of the Shares were made pursuant to Subscription Agreements entered into by the Company with its investors. Under the terms of the Subscription Agreements, each investor is required to fund drawdowns to purchase Shares up to the amount of their respective Capital Commitments each time the Company delivers a drawdown notice with a minimum of 10 business days’ prior notice to the date on which payment will be due. As of September 30, 2026 and December 31, 2025, the Company had 27,228,432 and 22,293,620 Shares outstanding, respectively. As of September 30, 2026, the Company had $509.1 million of Capital Commitments, of which $91.6 million remained undrawn. As of December 31, 2025, the Company had $509.2 million of Capital Commitments, of which $162.9 million remained undrawn. Distributions The following table reflects distributions declared, per share, by the Board for the year ended December 31, 2025 and the nine months ended September 30, 2026.
Share Repurchases Prior to a liquidity event, and subject to market conditions and the Board’s commercially reasonable judgment, the Company may from time to time offer to repurchase Shares pursuant to written tenders by Members. The Company does not currently intend to institute a Share repurchase program and Share repurchases will be effected only in extremely limited circumstances in accordance with applicable law. Any periodic repurchase offers are subject in part to our available cash and compliance with the BDC and RIC qualification and diversification rules promulgated under the 1940 Act and the Code, respectively. During the nine months ended September 30, 2026 and 2025, the Company did not repurchase any Shares. |
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