(8) CONSOLIDATED FINANCIAL HIGHLIGHTS
The following are the consolidated financial highlights for the nine
months ended September 30, 2026:
| | |
For the nine months ended
September 30, 2026 |
| Per Share Data | |
| | |
| Net asset value, beginning of period | |
$ | 25.11 | |
| Net investment income (loss)(1) | |
| 1.64 | |
| Net realized and unrealized gain (loss)(2) | |
| (0.36 | ) |
| Net increase (decrease) in net assets resulting from operations | |
| 1.28 | |
| Distributions declared from net investment income(3) | |
| (1.71 | ) |
| Total increase (decrease) in net assets | |
| (0.43 | ) |
| Net asset value, end of period | |
| 24.68 | |
| Common Shares outstanding at end of period | |
| 9,187,784 | |
| Total return based on net asset value(4) | |
| 5.3 | % |
| Ratio/Supplemental Data: | |
| | |
| Net assets at end of period | |
$ | 226,774 | |
| Ratio of expenses before expense reimbursement to average net asset value(5) | |
| 11.8 | % |
| Ratio of net expenses to average net asset value(5) | |
| 11.2 | % |
| Ratio of net investment income to average net asset value(5) | |
| 8.9 | % |
| Asset coverage ratio | |
| 184 | % |
| Portfolio turnover | |
| 31 | % |
| (1) | Per share data has been derived based on the weighted average number of shares outstanding for the nine months ended September 30, 2026. |
| (2) | Net unrealized and realized gain (loss) per share may not correlate to the aggregate of the net realized and unrealized gain (loss) in the Consolidated Statement of Operations, primarily due to the timing of the issuance of the Company’s Common Shares. |
| (3) | The tax character of distributions is determined based on the total amount of taxable income for the full tax year and cannot be confirmed until after the close of the tax year. Accordingly, the tax character of the Company’s distributions as denoted herein may be re-characterized later based on taxable income for the full tax year. |
| (4) | Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the Company’s dividend reinvestment plan) divided by the beginning NAV per share. Total return does not include upfront transaction fees, if any. Total returns for periods of less than 1 year are not annualized. |
| (5) | Annualized for the nine months ended September 30, 2026. |
The following are the Consolidated financial highlights for the nine
months ended September 30, 2025:
| | |
For the nine months ended
September 30, 2025 |
| Per Share Data | |
| | |
| Net asset value, at March 31, 2025 | |
$ | 25.06 | |
| Net investment income (loss)(1) | |
| 1.13 | |
| Net realized and unrealized gain (loss) (2) | |
| (0.05 | ) |
| Net increase (decrease) in net assets resulting from operations | |
| 1.08 | |
| Distributions Declared (6) | |
| (1.06 | ) |
| Total increase (decrease) in net assets | |
| 0.02 | |
| Net asset value, end of period | |
| 25.08 | |
| Common Shares outstanding at end of period | |
| 4,595,017 | |
| Total return Based on net asset value (4) | |
| 7.75 | % |
| | |
For the nine months ended
September 30, 2025 |
| Ratio/Supplemental Data: | |
| | |
| Net assets at end of period | |
$ | 115,241 | |
| Ratio of expenses before expense reimbursement to average net asset value (5) | |
| 15.30 | % |
| Ratio of net expenses to average net asset value (5) | |
| 13.36 | % |
| Ratio of net investment income to average net asset value (5) | |
| 9.71 | % |
| Asset coverage ratio | |
| 178 | % |
| Portfolio Turnover | |
| 12 | % |
(1) Prior to the Conversion Date, the Company
had no shares outstanding. Per share data has been derived based on the weighted average number of shares outstanding for the period
from April 1, 2025 to September 30, 2025.
(2) Net realized and unrealized gain (loss) per
share does not correlate to the aggregate of the net realized and unrealized gain(loss) in the Statement of Operations, primarily
due to the timing of the issuance of the Company’s common shares.
(3) Not utilized.
(4) Total return is calculated as the change
in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance
with the Company’s distribution reinvestment plan) divided by the beginning NAV per share. Total return does not include
upfront transaction fees, if any. Total returns for periods of less than 1 year are not annualized.
(5) Annualized for the nine months ended September
30, 2025, except for organizational costs.
(6) The tax character of distributions is determined
based on the total amount of taxable income for the full tax year and cannot be confirmed until after the close of the tax year.
Accordingly, the tax character of the Company’s distributions as denoted herein may be re-characterized later based on taxable
income for the full tax year.
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