| Commitments and Contingencies |
Note 7. Commitments and Contingencies 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. Commitments In the normal course of business, the Fund may become party to financial instruments with off-balance sheet risk to fund investments that have unfunded commitments associated with such instruments. These financial instruments may include commitments to extend credit on the unused portions of the Fund’s commitments pursuant to the terms of certain of the Fund’s investments in revolving credit facilities, letters of credit, delayed draw and other loan financing agreements in connection with the Fund’s investments in direct lending instruments. The unfunded commitments are carried at fair value with the unrealized appreciation or depreciation on the unfunded portion being included in fair value for each such position disclosed on the schedules of investments, and changes in those fair values are recorded in the net change in unrealized appreciation (depreciation) on investments on the consolidated statements of operations. The following table details the unfunded loan commitments as of September 30, 2026:
|
|
|
|
|
|
|
|
|
Investments - non-controlled/ non-affiliate |
|
Commitment Type |
|
Commitment Maturity Date |
|
Unfunded Commitment ($) |
|
Ab Centers Acquisition Corporation |
|
Revolving Credit Facility |
|
7/2/2031 |
|
$ |
1,840,527 |
|
ACP Avenu Midco LLC |
|
Delayed Draw Term Loan |
|
10/2/2029 |
|
|
394,945 |
|
ACP Avenu Midco LLC |
|
Revolving Credit Facility |
|
10/2/2029 |
|
|
5,185,142 |
|
ACP Falcon Buyer Inc |
|
Revolving Credit Facility |
|
8/1/2029 |
|
|
6,500,000 |
|
ACP Packaging IntermediateCo, LLC |
|
Revolving Credit Facility |
|
10/22/2031 |
|
|
846,299 |
|
Aep Passion Intermediate Holdings, Inc. |
|
Revolving Credit Facility |
|
10/5/2027 |
|
|
1,707,456 |
|
Aeron Buyer, LLC |
|
Revolving Credit Facility |
|
1/2/2032 |
|
|
1,944,444 |
|
Aeron Buyer, LLC |
|
Delayed Draw Term Loan |
|
1/2/2032 |
|
|
5,555,556 |
|
Align Enta Mso Holdings, LLC |
|
Revolving Credit Facility |
|
3/25/2032 |
|
|
816,855 |
|
Align Enta Mso Holdings, LLC |
|
Delayed Draw Term Loan |
|
3/25/2032 |
|
|
2,580,140 |
|
All-Lift Systems, LLC |
|
Revolving Credit Facility |
|
9/19/2028 |
|
|
1,130,137 |
|
Andretti Buyer, LLC |
|
Delayed Draw Term Loan |
|
1/30/2033 |
|
|
892,857 |
|
Andretti Buyer, LLC |
|
Revolving Credit Facility |
|
1/30/2033 |
|
|
892,857 |
|
Atlas AU Bidco Pty Ltd / Atlas US Finco, Inc. |
|
Revolving Credit Facility |
|
12/9/2028 |
|
|
4,338,106 |
|
Automotive Keys Group LLC |
|
Revolving Credit Facility |
|
6/1/2028 |
|
|
2,616,461 |
|
Bebright Mso, LLC |
|
Revolving Credit Facility |
|
6/3/2030 |
|
|
2,015,197 |
|
Behavioral Framework LLC |
|
Delayed Draw Term Loan |
|
11/20/2031 |
|
|
292,560 |
|
Behavioral Framework LLC |
|
Revolving Credit Facility |
|
11/20/2031 |
|
|
965,147 |
|
Belt Power Holdings LLC |
|
Revolving Credit Facility |
|
8/22/2028 |
|
|
3,418,803 |
|
Benefit Plan Administrators of Eau Claire, LLC |
|
Revolving Credit Facility |
|
11/1/2030 |
|
|
1,209,677 |
|
Benefit Plan Administrators of Eau Claire, LLC |
|
Delayed Draw Term Loan |
|
11/1/2030 |
|
|
2,322,581 |
|
BPCP Craftsman Buyer, LLC |
|
Revolving Credit Facility |
|
4/9/2030 |
|
|
101,961 |
|
BPCP Craftsman Buyer, LLC |
|
Delayed Draw Term Loan |
|
4/9/2030 |
|
|
470,588 |
|
Bron Buyer, LLC |
|
Revolving Credit Facility |
|
1/13/2029 |
|
|
4,500,000 |
|
C2dx, Inc |
|
Revolving Credit Facility |
|
3/19/2030 |
|
|
135,593 |
|
Cait Intermediate, LLC |
|
Revolving Credit Facility |
|
10/8/2030 |
|
|
1,520,270 |
|
CCI Prime, LLC |
|
Revolving Credit Facility |
|
10/18/2029 |
|
|
1,050,000 |
|
Currier Plastics Acquisition, LLC |
|
Revolving Credit Facility |
|
9/19/2031 |
|
|
1,531,974 |
|
Currier Plastics Acquisition, LLC |
|
Delayed Draw Term Loan |
|
9/19/2031 |
|
|
2,396,587 |
|
Cytracom LLC |
|
Revolving Credit Facility |
|
7/1/2029 |
|
|
561,798 |
|
Cytracom LLC |
|
Delayed Draw Term Loan |
|
7/1/2029 |
|
|
2,078,008 |
|
Digital Experience Services, LLC |
|
Revolving Credit Facility |
|
4/25/2030 |
|
|
144,231 |
|
Digital Experience Services, LLC |
|
Delayed Draw Term Loan |
|
4/25/2030 |
|
|
475,962 |
|
Double E Company, LLC |
|
Revolving Credit Facility |
|
6/21/2028 |
|
|
176,211 |
|
Dpt Management, LLC |
|
Revolving Credit Facility |
|
12/18/2027 |
|
|
60,833 |
|
Dragonfly Pond Works |
|
Revolving Credit Facility |
|
8/16/2031 |
|
|
1,068,969 |
|
Dragonfly Pond Works |
|
Delayed Draw Term Loan |
|
8/16/2031 |
|
|
3,706,967 |
|
Dynamic Connections, Ltd |
|
Revolving Credit Facility |
|
11/27/2030 |
|
|
103,926 |
|
Dynamic Connections, Ltd |
|
Delayed Draw Term Loan |
|
11/27/2030 |
|
|
3,160,000 |
|
Ecir Intermediate II LLC |
|
Revolving Credit Facility |
|
9/26/2031 |
|
|
1,030,422 |
|
As of September 30, 2026 (continued):
|
|
|
|
|
|
|
|
|
Investments - non-controlled/ non-affiliate |
|
Commitment Type |
|
Commitment Maturity Date |
|
Unfunded Commitment ($) |
|
Erosion Intermediate Holdings LLC |
|
Revolving Credit Facility |
|
9/30/2029 |
|
$ |
1,205,357 |
|
Eversmith Brands Intermediate Holding Company |
|
Revolving Credit Facility |
|
6/17/2030 |
|
|
102,941 |
|
Eversmith Brands Intermediate Holding Company |
|
Delayed Draw Term Loan |
|
6/17/2030 |
|
|
1,802,998 |
|
Fertility (ITC) Investment Holdco, LLC / Fertility (ITC) Buyer, Inc. |
|
Revolving Credit Facility |
|
1/3/2029 |
|
|
2,727,273 |
|
Firmapak Intermediary LLC |
|
Revolving Credit Facility |
|
2/4/2031 |
|
|
601,159 |
|
Firmapak Intermediary LLC |
|
Delayed Draw Term Loan |
|
2/4/2031 |
|
|
1,159,200 |
|
Fmi Industries, Inc. |
|
Revolving Credit Facility |
|
1/13/2031 |
|
|
1,463,889 |
|
Fmi Industries, Inc. |
|
Delayed Draw Term Loan |
|
1/13/2031 |
|
|
4,305,556 |
|
Harmony Hit US Holdings Inc |
|
Revolving Credit Facility |
|
12/3/2030 |
|
|
3,024,817 |
|
Harmony Hit US Holdings Inc |
|
Delayed Draw Term Loan |
|
12/3/2030 |
|
|
3,597,789 |
|
Houseworks Holdings, LLC |
|
Revolving Credit Facility |
|
12/15/2028 |
|
|
2,208,114 |
|
Hy-Tek Opco, LLC |
|
Revolving Credit Facility |
|
9/19/2028 |
|
|
2,382,880 |
|
Identiti Resources LLC |
|
Revolving Credit Facility |
|
11/1/2029 |
|
|
1,237,452 |
|
Infusion Services Management LLC |
|
Revolving Credit Facility |
|
7/6/2029 |
|
|
2,645,972 |
|
Insight Technology Operation LLC |
|
Revolving Credit Facility |
|
3/31/2031 |
|
|
124,611 |
|
Kinetic Engines Systems Inc |
|
Revolving Credit Facility |
|
5/3/2028 |
|
|
1,871,139 |
|
Kinetic Infrastructure Group, Inc. |
|
Delayed Draw Term Loan |
|
3/13/2030 |
|
|
1,913,265 |
|
Kinetic Infrastructure Group, Inc. |
|
Revolving Credit Facility |
|
3/13/2030 |
|
|
1,913,265 |
|
Knight AcquireCo, LLC |
|
Delayed Draw Term Loan |
|
11/7/2032 |
|
|
1,620,368 |
|
La-Co Industries, Inc |
|
Revolving Credit Facility |
|
7/2/2030 |
|
|
760,456 |
|
Lake Air Products, LLC |
|
Revolving Credit Facility |
|
1/9/2029 |
|
|
5,000,000 |
|
Lifecare Intermediate II, LLC |
|
Delayed Draw Term Loan |
|
5/20/2030 |
|
|
1,340,000 |
|
Luminii LLC |
|
Delayed Draw Term Loan |
|
3/21/2030 |
|
|
620,000 |
|
Luminii LLC |
|
Revolving Credit Facility |
|
3/21/2030 |
|
|
1,098,901 |
|
Midas Foods International LLC |
|
Revolving Credit Facility |
|
4/30/2029 |
|
|
147,541 |
|
Midas Foods International LLC |
|
Delayed Draw Term Loan |
|
4/30/2029 |
|
|
763,359 |
|
Mobotrex, LLC |
|
Revolving Credit Facility |
|
6/7/2031 |
|
|
790,550 |
|
Mobotrex, LLC |
|
Delayed Draw Term Loan |
|
6/7/2031 |
|
|
2,806,072 |
|
Mse Supplies, LLC |
|
Revolving Credit Facility |
|
8/14/2030 |
|
|
1,442,308 |
|
Mustang Prospects Purchaser LLC |
|
Revolving Credit Facility |
|
6/13/2031 |
|
|
1,894,660 |
|
NAM Acquisition Co LLC |
|
Delayed Draw Term Loan |
|
7/16/2030 |
|
|
295,950 |
|
NAM Acquisition Co LLC |
|
Revolving Credit Facility |
|
7/16/2030 |
|
|
481,928 |
|
National Power, LLC |
|
Delayed Draw Term Loan |
|
10/20/2029 |
|
|
230,122 |
|
National Power, LLC |
|
Revolving Credit Facility |
|
10/20/2029 |
|
|
373,575 |
|
NE Ortho Management Services, LLC |
|
Revolving Credit Facility |
|
12/13/2030 |
|
|
787,380 |
|
NE Ortho Management Services, LLC |
|
Delayed Draw Term Loan |
|
12/13/2030 |
|
|
1,912,941 |
|
Nitrofill, LLC |
|
Revolving Credit Facility |
|
8/14/2029 |
|
|
1,304,177 |
|
Nutrail Acquisitionco, LLC |
|
Revolving Credit Facility |
|
5/23/2030 |
|
|
173,410 |
|
Orchard Park Bidco, Inc. |
|
Revolving Credit Facility |
|
4/21/2033 |
|
|
1,544,598 |
|
Orchard Park Bidco, Inc. |
|
Delayed Draw Term Loan |
|
4/21/2033 |
|
|
2,126,929 |
|
As of September 30, 2026 (continued):
|
|
|
|
|
|
|
|
|
Investments - non-controlled/ non-affiliate |
|
Commitment Type |
|
Commitment Maturity Date |
|
Unfunded Commitment ($) |
|
Pcp Metis Bidco, Inc. |
|
Revolving Credit Facility |
|
7/1/2033 |
|
$ |
3,903,160 |
|
Penn Quarter Partners, LLC |
|
Revolving Credit Facility |
|
8/25/2031 |
|
|
1,402,842 |
|
Penta Fine Ingredients, Inc. |
|
Revolving Credit Facility |
|
4/4/2031 |
|
|
123,457 |
|
Perimeter Solutions Group, LLC |
|
Delayed Draw Term Loan |
|
10/2/2030 |
|
|
718,185 |
|
Perimeter Solutions Group, LLC |
|
Delayed Draw Term Loan |
|
10/2/2030 |
|
|
1,787,973 |
|
Perimeter Solutions Group, LLC |
|
Revolving Credit Facility |
|
10/2/2030 |
|
|
2,663,031 |
|
Pillr Health Intermediate II, LLC |
|
Delayed Draw Term Loan |
|
12/31/2031 |
|
|
3,161,949 |
|
Pillr Health Intermediate II, LLC |
|
Revolving Credit Facility |
|
12/31/2031 |
|
|
3,809,577 |
|
Pla Buyer, LLC |
|
Revolving Credit Facility |
|
11/22/2029 |
|
|
684,211 |
|
Precision I Buyer, LLC |
|
Revolving Credit Facility |
|
3/12/2032 |
|
|
714,286 |
|
Premier Dental Products Company LLC |
|
Revolving Credit Facility |
|
1/31/2031 |
|
|
625,000 |
|
Premier Dental Products Company LLC |
|
Delayed Draw Term Loan |
|
1/31/2031 |
|
|
1,250,000 |
|
Principal Lighting Group, LLC |
|
Revolving Credit Facility |
|
11/4/2030 |
|
|
3,106,357 |
|
Professional Education Holdco, LLC |
|
Revolving Credit Facility |
|
2/26/2032 |
|
|
1,421,663 |
|
Professional Education Holdco, LLC |
|
Delayed Draw Term Loan |
|
2/26/2032 |
|
|
2,256,890 |
|
Prospect Mold & Die Company |
|
Revolving Credit Facility |
|
3/30/2032 |
|
|
1,222,800 |
|
Quick Roofing Acquisition, LLC |
|
Delayed Draw Term Loan |
|
12/22/2029 |
|
|
484,848 |
|
Quick Roofing Acquisition, LLC |
|
Revolving Credit Facility |
|
12/22/2029 |
|
|
3,825,000 |
|
R1 Holdings, LLC |
|
Revolving Credit Facility |
|
12/29/2028 |
|
|
936,652 |
|
Refresh Buyer LLC |
|
Revolving Credit Facility |
|
12/23/2027 |
|
|
1,472,391 |
|
Repairify, Inc. |
|
Revolving Credit Facility |
|
7/2/2031 |
|
|
655,036 |
|
Roofing Services Solutions LLC |
|
Revolving Credit Facility |
|
11/27/2029 |
|
|
833,333 |
|
Routeware Inc |
|
Delayed Draw Term Loan |
|
9/18/2031 |
|
|
3,167,045 |
|
Routeware, Inc |
|
Revolving Credit Facility |
|
9/18/2031 |
|
|
1,022,727 |
|
RPX Corporation |
|
Revolving Credit Facility |
|
8/2/2030 |
|
|
816,327 |
|
Sabrosura Foods, LLC |
|
Delayed Draw Term Loan |
|
8/22/2029 |
|
|
1,295,694 |
|
Sabrosura Foods, LLC |
|
Revolving Credit Facility |
|
8/22/2029 |
|
|
8,064,800 |
|
SCP Baked Goods Holdings, LLC |
|
Revolving Credit Facility |
|
5/1/2031 |
|
|
89,286 |
|
SCP Baked Goods Holdings, LLC |
|
Delayed Draw Term Loan |
|
5/1/2031 |
|
|
15,463,636 |
|
Scp Mechanical Services Buyer, LLC |
|
Revolving Credit Facility |
|
8/20/2031 |
|
|
1,442,308 |
|
Scp Personalized Medicine Management, LLC |
|
Revolving Credit Facility |
|
8/14/2032 |
|
|
843,271 |
|
Scp Personalized Medicine Management, LLC |
|
Delayed Draw Term Loan |
|
8/14/2032 |
|
|
2,712,218 |
|
Shf Holdings, Inc |
|
Revolving Credit Facility |
|
1/22/2030 |
|
|
2,054,348 |
|
Solid Ground Solutions Acquisitions Inc |
|
Delayed Draw Term Loan |
|
5/6/2029 |
|
|
5,245,161 |
|
Soteria Flexibles Corporation |
|
Delayed Draw Term Loan |
|
8/15/2029 |
|
|
127,660 |
|
Soteria Flexibles Corporation |
|
Revolving Credit Facility |
|
8/15/2029 |
|
|
5,279,745 |
|
Tgnl Purchaser LLC |
|
Revolving Credit Facility |
|
6/25/2031 |
|
|
165,746 |
|
The Smilist Dso, LLC |
|
Delayed Draw Term Loan |
|
4/4/2029 |
|
|
98,132 |
|
The Smilist Dso, LLC |
|
Revolving Credit Facility |
|
4/4/2029 |
|
|
132,525 |
|
Tiger Healthcare Buyer, LLC |
|
Revolving Credit Facility |
|
2/27/2030 |
|
|
1,125,000 |
|
As of September 30, 2026 (continued):
|
|
|
|
|
|
|
|
|
Investments - non-controlled/ non-affiliate |
|
Commitment Type |
|
Commitment Maturity Date |
|
Unfunded Commitment ($) |
|
Together Womens Health, LLC |
|
Revolving Credit Facility |
|
8/26/2031 |
|
$ |
1,648,352 |
|
Together Womens Health, LLC |
|
Delayed Draw Term Loan |
|
8/26/2031 |
|
|
7,692,308 |
|
Trutemp Acquisition LLC |
|
Revolving Credit Facility |
|
8/26/2031 |
|
|
1,446,281 |
|
Trutemp Acquisition LLC |
|
Delayed Draw Term Loan |
|
8/26/2031 |
|
|
5,330,579 |
|
Tsss Purchaser LLC |
|
Delayed Draw Term Loan |
|
7/1/2032 |
|
|
1,709,563 |
|
Tsss Purchaser LLC |
|
Revolving Credit Facility |
|
7/1/2032 |
|
|
1,969,801 |
|
VIP Medical US Buyer, LLC |
|
Revolving Credit Facility |
|
12/12/2028 |
|
|
2,500,000 |
|
Vp Deliver Parent, Inc |
|
Delayed Draw Term Loan |
|
2/17/2031 |
|
|
604,870 |
|
Vp Deliver Parent, Inc |
|
Revolving Credit Facility |
|
2/17/2031 |
|
|
648,075 |
|
Warshaw Opco LLC |
|
Revolving Credit Facility |
|
3/27/2030 |
|
|
169,477 |
|
Wci-Bxc Purchaser, LLC |
|
Revolving Credit Facility |
|
11/6/2030 |
|
|
5,988,807 |
|
Woven Health Collective, LLC |
|
Revolving Credit Facility |
|
10/23/2028 |
|
|
868,212 |
|
Woven Health Collective, LLC |
|
Delayed Draw Term Loan |
|
10/23/2028 |
|
|
3,299,206 |
|
Total Unfunded Commitments |
|
|
|
|
|
$ |
253,622,750 |
|
The following table details the unfunded loan commitments as of December 31, 2025:
|
|
|
|
|
|
|
|
|
Investments - non-controlled/ non-affiliate |
|
Commitment Type |
|
Commitment Maturity Date |
|
Unfunded Commitment ($) |
|
Ab Centers Acquisition Corporation |
|
Delayed Draw Term Loan |
|
7/2/2031 |
|
$ |
2,353,804 |
|
Ab Centers Acquisition Corporation |
|
Revolving Credit Facility |
|
7/2/2031 |
|
|
1,840,527 |
|
ACP Avenu Midco LLC |
|
Revolving Credit Facility |
|
10/2/2029 |
|
|
6,673,945 |
|
ACP Avenu Midco LLC |
|
Delayed Draw Term Loan |
|
10/2/2029 |
|
|
394,945 |
|
ACP Falcon Buyer Inc |
|
Revolving Credit Facility |
|
8/1/2029 |
|
|
6,500,000 |
|
ACP Packaging IntermediateCo, LLC |
|
Revolving Credit Facility |
|
10/22/2031 |
|
|
3,626,997 |
|
Aep Passion Intermediate Holdings, Inc. |
|
Revolving Credit Facility |
|
10/5/2027 |
|
|
1,152,223 |
|
Alcami Corporation |
|
Revolving Credit Facility |
|
12/21/2028 |
|
|
5,782,192 |
|
All-Lift Systems, LLC |
|
Revolving Credit Facility |
|
9/19/2028 |
|
|
1,746,575 |
|
Atlas AU Bidco Pty Ltd / Atlas US Finco, Inc. |
|
Revolving Credit Facility |
|
12/9/2028 |
|
|
4,338,106 |
|
Bebright Mso, LLC |
|
Revolving Credit Facility |
|
6/3/2030 |
|
|
2,015,197 |
|
Bebright Mso, LLC |
|
Delayed Draw Term Loan |
|
6/3/2030 |
|
|
826,446 |
|
Behavioral Framework LLC |
|
Revolving Credit Facility |
|
11/20/2031 |
|
|
1,608,579 |
|
Behavioral Framework LLC |
|
Delayed Draw Term Loan |
|
11/20/2031 |
|
|
292,560 |
|
Belt Power Holdings LLC |
|
Revolving Credit Facility |
|
8/22/2028 |
|
|
3,418,803 |
|
Benefit Plan Administrators of Eau Claire, LLC |
|
Delayed Draw Term Loan |
|
11/1/2030 |
|
|
4,032,258 |
|
Benefit Plan Administrators of Eau Claire, LLC |
|
Revolving Credit Facility |
|
11/1/2030 |
|
|
1,209,677 |
|
BPCP Craftsman Buyer, LLC |
|
Delayed Draw Term Loan |
|
4/9/2030 |
|
|
470,588 |
|
BPCP Craftsman Buyer, LLC |
|
Revolving Credit Facility |
|
4/9/2030 |
|
|
156,863 |
|
Bron Buyer, LLC |
|
Revolving Credit Facility |
|
1/13/2029 |
|
|
4,250,000 |
|
C2dx, Inc |
|
Revolving Credit Facility |
|
3/19/2030 |
|
|
101,695 |
|
C2dx, Inc |
|
Delayed Draw Term Loan |
|
3/19/2030 |
|
|
3,390 |
|
Cadence - Southwick, Inc. |
|
Revolving Credit Facility |
|
5/3/2028 |
|
|
2,151,809 |
|
Cait Intermediate, LLC |
|
Revolving Credit Facility |
|
10/8/2030 |
|
|
1,520,270 |
|
CCI Prime, LLC |
|
Revolving Credit Facility |
|
10/18/2029 |
|
|
1,050,000 |
|
Currier Plastics Acquisition, LLC |
|
Delayed Draw Term Loan |
|
9/19/2031 |
|
|
4,699,248 |
|
Currier Plastics Acquisition, LLC |
|
Revolving Credit Facility |
|
9/19/2031 |
|
|
1,913,807 |
|
Cytracom LLC |
|
Revolving Credit Facility |
|
6/28/2027 |
|
|
561,798 |
|
Cytracom LLC |
|
Delayed Draw Term Loan |
|
6/28/2027 |
|
|
352,022 |
|
Digital Experience Services, LLC |
|
Delayed Draw Term Loan |
|
4/25/2030 |
|
|
687,500 |
|
Digital Experience Services, LLC |
|
Revolving Credit Facility |
|
4/25/2030 |
|
|
192,308 |
|
Double E Company, LLC |
|
Revolving Credit Facility |
|
6/21/2028 |
|
|
1,057,269 |
|
Dpt Management, LLC |
|
Delayed Draw Term Loan |
|
12/18/2027 |
|
|
416,667 |
|
Dpt Management, LLC |
|
Revolving Credit Facility |
|
12/18/2027 |
|
|
60,833 |
|
Dragonfly Pond Works |
|
Revolving Credit Facility |
|
8/16/2030 |
|
|
875,146 |
|
Dragonfly Pond Works |
|
Delayed Draw Term Loan |
|
8/16/2030 |
|
|
297,550 |
|
Dynamic Connections, Ltd |
|
Delayed Draw Term Loan |
|
11/27/2030 |
|
|
346,420 |
|
Dynamic Connections, Ltd |
|
Revolving Credit Facility |
|
11/27/2030 |
|
|
115,473 |
|
Ecir Intermediate II LLC |
|
Delayed Draw Term Loan |
|
9/26/2031 |
|
|
4,121,688 |
|
Ecir Intermediate II LLC |
|
Revolving Credit Facility |
|
9/26/2031 |
|
|
1,030,422 |
|
As of December 31, 2025 (continued):
|
|
|
|
|
|
|
|
|
Investments - non-controlled/ non-affiliate |
|
Commitment Type |
|
Commitment Maturity Date |
|
Unfunded Commitment ($) |
|
Eds Buyer, LLC |
|
Revolving Credit Facility |
|
1/10/2029 |
|
$ |
85,106 |
|
Erosion Intermediate Holdings LLC |
|
Revolving Credit Facility |
|
9/30/2029 |
|
|
1,339,286 |
|
Erosion Intermediate Holdings LLC |
|
Delayed Draw Term Loan |
|
9/30/2029 |
|
|
937,500 |
|
Eversmith Brands Intermediate Holding Company |
|
Delayed Draw Term Loan |
|
6/17/2030 |
|
|
1,878,123 |
|
Eversmith Brands Intermediate Holding Company |
|
Revolving Credit Facility |
|
6/17/2030 |
|
|
102,941 |
|
Eversmith Brands Intermediate Holding Company |
|
Delayed Draw Term Loan |
|
6/17/2030 |
|
|
44,118 |
|
Fertility (ITC) Investment Holdco, LLC / Fertility (ITC) Buyer, Inc. |
|
Revolving Credit Facility |
|
1/3/2029 |
|
|
2,727,273 |
|
Firmapak Intermediary LLC |
|
Revolving Credit Facility |
|
2/4/2031 |
|
|
138,889 |
|
Firmapak Intermediary LLC |
|
Delayed Draw Term Loan |
|
2/4/2031 |
|
|
44,444 |
|
Future Care Associates LLC |
|
Revolving Credit Facility |
|
12/30/2028 |
|
|
5,000,000 |
|
Harmony Hit US Holdings Inc |
|
Delayed Draw Term Loan |
|
12/3/2030 |
|
|
3,597,789 |
|
Harmony Hit US Holdings Inc |
|
Revolving Credit Facility |
|
12/3/2030 |
|
|
3,024,817 |
|
Houseworks Holdings, LLC |
|
Revolving Credit Facility |
|
12/15/2028 |
|
|
2,375,819 |
|
Hy-Tek Opco, LLC |
|
Revolving Credit Facility |
|
9/19/2028 |
|
|
3,177,173 |
|
Identiti Resources LLC |
|
Revolving Credit Facility |
|
11/1/2029 |
|
|
1,537,976 |
|
Infusion Services Management LLC |
|
Revolving Credit Facility |
|
7/7/2028 |
|
|
1,059,412 |
|
Insight Technology Operation LLC |
|
Revolving Credit Facility |
|
3/31/2031 |
|
|
124,611 |
|
Knight AcquireCo, LLC |
|
Delayed Draw Term Loan |
|
11/7/2032 |
|
|
1,869,655 |
|
La-Co Industries, Inc |
|
Revolving Credit Facility |
|
7/2/2030 |
|
|
760,456 |
|
Lake Air Products, LLC |
|
Revolving Credit Facility |
|
1/9/2029 |
|
|
5,000,000 |
|
Lifecare Intermediate II, LLC |
|
Delayed Draw Term Loan |
|
5/20/2030 |
|
|
2,000,000 |
|
Luminii LLC |
|
Delayed Draw Term Loan |
|
3/21/2030 |
|
|
2,000,000 |
|
Luminii LLC |
|
Revolving Credit Facility |
|
3/21/2030 |
|
|
1,098,901 |
|
Luminii LLC |
|
Delayed Draw Term Loan |
|
3/21/2030 |
|
|
824,176 |
|
Midas Foods International LLC |
|
Delayed Draw Term Loan |
|
4/30/2029 |
|
|
763,359 |
|
Midas Foods International LLC |
|
Revolving Credit Facility |
|
4/30/2029 |
|
|
163,934 |
|
Mobotrex, LLC |
|
Delayed Draw Term Loan |
|
6/7/2031 |
|
|
2,806,072 |
|
Mobotrex, LLC |
|
Revolving Credit Facility |
|
6/7/2031 |
|
|
1,138,743 |
|
Mri Acquisitions, Inc |
|
Revolving Credit Facility |
|
7/1/2026 |
|
|
1,833,333 |
|
Mse Supplies, LLC |
|
Revolving Credit Facility |
|
8/14/2030 |
|
|
778,846 |
|
Mustang Prospects Purchaser LLC |
|
Revolving Credit Facility |
|
6/13/2031 |
|
|
1,894,660 |
|
Mustang Prospects Purchaser LLC |
|
Delayed Draw Term Loan |
|
6/13/2031 |
|
|
444,537 |
|
NAM Acquisition Co LLC |
|
Delayed Draw Term Loan |
|
7/16/2030 |
|
|
591,901 |
|
NAM Acquisition Co LLC |
|
Revolving Credit Facility |
|
7/16/2030 |
|
|
481,928 |
|
National Power, LLC |
|
Delayed Draw Term Loan |
|
10/20/2029 |
|
|
418,404 |
|
National Power, LLC |
|
Revolving Credit Facility |
|
10/20/2029 |
|
|
373,575 |
|
NE Ortho Management Services, LLC |
|
Delayed Draw Term Loan |
|
12/13/2030 |
|
|
6,462,036 |
|
NE Ortho Management Services, LLC |
|
Revolving Credit Facility |
|
12/13/2030 |
|
|
323,102 |
|
Nutrail Acquisitionco, LLC |
|
Revolving Credit Facility |
|
5/23/2030 |
|
|
173,410 |
|
Nutrail Acquisitionco, LLC |
|
Delayed Draw Term Loan |
|
5/23/2030 |
|
|
102,929 |
|
As of December 31, 2025 (continued):
|
|
|
|
|
|
|
|
|
Investments - non-controlled/ non-affiliate |
|
Commitment Type |
|
Commitment Maturity Date |
|
Unfunded Commitment ($) |
|
Penn Quarter Partners, LLC |
|
Delayed Draw Term Loan |
|
8/25/2031 |
|
$ |
2,805,683 |
|
Penn Quarter Partners, LLC |
|
Revolving Credit Facility |
|
8/25/2031 |
|
|
1,402,842 |
|
Penta Fine Ingredients, Inc. |
|
Revolving Credit Facility |
|
4/4/2031 |
|
|
123,457 |
|
Perimeter Solutions Group, LLC |
|
Revolving Credit Facility |
|
10/2/2030 |
|
|
4,260,850 |
|
Perimeter Solutions Group, LLC |
|
Delayed Draw Term Loan |
|
10/2/2030 |
|
|
1,787,973 |
|
Perimeter Solutions Group, LLC |
|
Delayed Draw Term Loan |
|
10/2/2030 |
|
|
718,185 |
|
Pillr Health Intermediate II, LLC |
|
Delayed Draw Term Loan |
|
12/31/2031 |
|
|
6,349,295 |
|
Pillr Health Intermediate II, LLC |
|
Revolving Credit Facility |
|
12/31/2031 |
|
|
3,428,619 |
|
Pla Buyer, LLC |
|
Revolving Credit Facility |
|
11/22/2029 |
|
|
1,105,263 |
|
Premier Dental Products Company LLC |
|
Delayed Draw Term Loan |
|
1/31/2031 |
|
|
1,250,000 |
|
Premier Dental Products Company LLC |
|
Revolving Credit Facility |
|
1/31/2031 |
|
|
625,000 |
|
Principal Lighting Group Holdings, LLC |
|
Revolving Credit Facility |
|
11/4/2030 |
|
|
3,106,357 |
|
Prism Parent Co Inc. |
|
Delayed Draw Term Loan |
|
9/16/2028 |
|
|
2,214,815 |
|
Quick Roofing Acquisition, LLC |
|
Revolving Credit Facility |
|
12/22/2029 |
|
|
6,800,000 |
|
Quick Roofing Acquisition, LLC |
|
Delayed Draw Term Loan |
|
12/22/2029 |
|
|
484,848 |
|
R1 Holdings, LLC |
|
Revolving Credit Facility |
|
12/29/2028 |
|
|
574,661 |
|
Refresh Buyer LLC |
|
Revolving Credit Facility |
|
12/23/2027 |
|
|
1,595,092 |
|
Roofing Services Solutions LLC |
|
Revolving Credit Facility |
|
11/27/2029 |
|
|
895,833 |
|
Routeware, Inc |
|
Delayed Draw Term Loan |
|
9/18/2031 |
|
|
3,852,273 |
|
Routeware, Inc |
|
Revolving Credit Facility |
|
9/18/2031 |
|
|
818,182 |
|
RPX Corporation |
|
Revolving Credit Facility |
|
8/2/2030 |
|
|
816,327 |
|
Sabrosura Foods, LLC |
|
Delayed Draw Term Loan |
|
8/22/2029 |
|
|
4,311,535 |
|
Sabrosura Foods, LLC |
|
Revolving Credit Facility |
|
8/22/2029 |
|
|
3,924,869 |
|
SCP Baked Goods Holdings, LLC |
|
Delayed Draw Term Loan |
|
5/1/2031 |
|
|
267,857 |
|
SCP Baked Goods Holdings, LLC |
|
Revolving Credit Facility |
|
5/1/2031 |
|
|
89,286 |
|
Scp Mechanical Services Buyer, LLC |
|
Delayed Draw Term Loan |
|
8/20/2031 |
|
|
6,730,769 |
|
Scp Mechanical Services Buyer, LLC |
|
Revolving Credit Facility |
|
8/20/2031 |
|
|
1,442,308 |
|
Scp Wqs Buyer, LLC |
|
Revolving Credit Facility |
|
10/2/2029 |
|
|
4,258,004 |
|
Shf Holdings, Inc |
|
Revolving Credit Facility |
|
1/22/2030 |
|
|
2,347,826 |
|
Solid Ground Solutions Acquisitions Inc |
|
Delayed Draw Term Loan |
|
5/6/2029 |
|
|
5,806,452 |
|
Solid Ground Solutions Acquisitions Inc |
|
Revolving Credit Facility |
|
5/6/2029 |
|
|
595,238 |
|
Soteria Flexibles Corporation |
|
Revolving Credit Facility |
|
8/15/2029 |
|
|
4,984,375 |
|
Tex-Tech Industries Inc |
|
Revolving Credit Facility |
|
1/13/2031 |
|
|
90,476 |
|
Tex-Tech Industries Inc |
|
Delayed Draw Term Loan |
|
1/13/2031 |
|
|
63,492 |
|
Tgnl Purchaser LLC |
|
Revolving Credit Facility |
|
6/25/2031 |
|
|
165,746 |
|
The Smilist Dso, LLC |
|
Revolving Credit Facility |
|
4/4/2029 |
|
|
1,148,547 |
|
The Smilist Dso, LLC |
|
Delayed Draw Term Loan |
|
4/4/2029 |
|
|
165,048 |
|
Tiger Healthcare Buyer, LLC |
|
Revolving Credit Facility |
|
2/27/2030 |
|
|
1,125,000 |
|
Tiger Healthcare Buyer, LLC |
|
Delayed Draw Term Loan |
|
2/27/2030 |
|
|
50,417 |
|
Tighitco Inc |
|
Revolving Credit Facility |
|
2/28/2030 |
|
|
384,615 |
|
Together Womens Health, LLC |
|
Delayed Draw Term Loan |
|
8/26/2031 |
|
|
7,692,308 |
|
Together Womens Health, LLC |
|
Revolving Credit Facility |
|
8/26/2031 |
|
|
1,648,352 |
|
Trutemp Acquisition LLC |
|
Delayed Draw Term Loan |
|
8/26/2031 |
|
|
7,231,405 |
|
Trutemp Acquisition LLC |
|
Revolving Credit Facility |
|
8/26/2031 |
|
|
1,446,281 |
|
USW Buyer, LLC |
|
Revolving Credit Facility |
|
11/3/2028 |
|
|
1,970,000 |
|
VIP Medical US Buyer, LLC |
|
Revolving Credit Facility |
|
12/12/2028 |
|
|
7,500,000 |
|
Warshaw Opco LLC |
|
Revolving Credit Facility |
|
3/27/2030 |
|
|
169,477 |
|
Wci-Bxc Purchaser, LLC |
|
Revolving Credit Facility |
|
11/6/2030 |
|
|
5,988,807 |
|
Woven Health Collective, LLC |
|
Delayed Draw Term Loan |
|
10/23/2028 |
|
|
4,341,061 |
|
Woven Health Collective, LLC |
|
Revolving Credit Facility |
|
10/23/2028 |
|
|
1,475,961 |
|
Total Unfunded Commitments |
|
|
|
|
|
$ |
256,175,901 |
|
In addition, as of September 30, 2026 the Fund was party to subscription agreements to fund equity investment commitments as follows:
|
|
|
|
|
|
|
|
|
|
|
Investment to be acquired |
|
Investment Type |
|
Commitment Amount |
|
|
Unrealized Appreciation (Depreciation) |
|
Acp Flexibles I LP |
|
Equity Interest |
|
$ |
23,946 |
|
|
$ |
— |
|
Total Unfunded Equity Commitments |
|
|
|
$ |
23,946 |
|
|
$ |
— |
|
As of December 31, 2025, the Fund was party to subscription agreements to fund equity investment commitments as follows:
|
|
|
|
|
|
|
|
|
|
|
Investment to be acquired |
|
Investment Type |
|
Commitment Amount |
|
|
Unrealized Appreciation (Depreciation) |
|
Acp Flexibles I LP |
|
Equity Interest |
|
$ |
23,946 |
|
|
$ |
— |
|
CCI Prime Holdings, LLC |
|
Series AA Preferred Units |
|
|
11,698 |
|
|
|
— |
|
Total Unfunded Equity Commitments |
|
|
|
$ |
35,644 |
|
|
$ |
— |
|
|