Unit Holder Transactions (Tables)

9 Months Ended

Sep. 30, 2026

he Fund has the authority to issue an unlimited number of units. Units have no par value. The following table summarizes unit transaction activity for the three and nine months ended September 30, 2026 and 2025:


	Three Months Ended September 30,							Nine Months Ended September 30,
	2026				2025			2026				2025
	Units				Units			Units				Units
Units issued - contributions during the period		100,000		⁽²⁾		—			100,000		⁽²⁾		5,152,230
Adjustment of Units to reflect the Merger exchange ratio		(8,969,550	)	⁽¹⁾		—			(8,969,550	)	⁽¹⁾		—
Units repurchased		(562,000	)			(2,270,785	)		(562,000	)			(4,223,074	)
Distributions reinvested		1,259,994				1,390,086			3,568,832				3,633,043
Net increase (decrease)		(8,171,556	)			(880,699	)		(5,862,718	)			4,562,199

(1)

For the three and nine months ended September 30, 2026, net of 78,562,994 Units issued of the Fund and 87,532,544 Units retired of the Acquired Fund related to the Merger. For further details refer to “Note 1. Organization.” and “Note 10. Reorganization.”

(2)

Represents Units of the legal survivor related to the Merger.

Schedule of aggregate Capital Commitments and undrawn Capital Commitments

As of the dates indicated, the Fund had aggregate Capital Commitments and unfunded Capital Commitments from investors as follows:


	September 30, 2026
	Capital Commitments		Unfunded Capital Commitments		% Unfunded Capital Commitments
Common Units	$	802,510,000	$	112,549,966		14.0	%
Total	$	802,510,000	$	112,549,966		14.0	%


	December 31, 2025
	Capital Commitments		Unfunded Capital Commitments		% Unfunded Capital Commitments
Common Units	$	765,510,000	$	76,549,966		10.0	%
Total	$	765,510,000	$	76,549,966		10.0	%

There were no Units issued related to capital drawdowns during the nine months ended September 30, 2026.

Schedule of total Units issued and proceeds related to capital drawdowns

There were no Units issued related to capital drawdowns during the nine months ended September 30, 2026. The following tables summarize the total Units issued and proceeds related to capital drawdowns during the nine months ended September 30, 2025:


Unit Issue Date	Units Issued		Proceeds Received
For the Nine Months Ended September 30, 2025
February 24, 2025		2,588,127	$	25,286,000
March 28, 2025		2,564,103		25,000,000
Total capital drawdowns		5,152,230	$	50,286,000

Schedule of distributions declared

The following tables summarize distributions declared for the nine months ended September 30, 2026 and 2025:


Month	Distribution per Unit		Gross Distributions		Reinvestment of Distributions
January 2026	$	—	$	—	$	—
February 2026		0.10		7,418,845		4,071,940
March 2026		0.10		7,626,759		4,203,790
April 2026		0.08		6,389,323		3,536,848
May 2026		0.11		8,557,193		4,753,892
June 2026		0.11		8,780,608		4,901,242
July 2026		0.10		15,110,155		8,492,413
August 2026		0.08		6,214,377		3,512,916
September 2026		0.12		9,085,486		—
	$	0.80	$	69,182,746	$	33,473,041


Month	Distribution per Unit		Gross Distributions		Reinvestment of Distributions
January 2025	$	—	$	—	$	—
February 2025		0.09		6,872,061		3,343,410
March 2025		0.10		8,426,153		4,211,266
April 2025		0.11		8,781,463		4,468,957
May 2025		0.10		8,583,617		4,392,023
June 2025		0.12		9,959,767		5,123,315
July 2025		0.09		7,351,036		3,804,303
August 2025		0.10		8,309,181		4,319,107
September 2025		0.12		9,788,635		5,113,394
	$	0.83	$	68,071,913	$	34,775,775

Schedule of Summarizes the Unit repurchases completed

The following tables summarize the Unit repurchases completed during nine months ended September 30, 2026 and 2025:

         Repurchase deadline request

         Percentage of Outstanding Units the Fund Offered to Repurchase

         Average Price Paid Per Unit

         Repurchase Pricing Date

         Amount Repurchased

         Number of Units
Repurchased

         Percentage of Outstanding
Units Repurchased

September 28, 2026

2.50%

10.26

September 30, 2026

5,768,312

562,000

0.71% ⁽¹⁾

(1)

Percentage is based on total Outstanding Units as of the date on which the Tender Offer was first published. The Fund accepted for purchase 100.0% of the Units of the Fund that were validly tendered and not withdrawn prior to the expiration of the offer as permitted by Rule 13e-4(f)(1).


Repurchase deadline request	Percentage of Outstanding Units the Fund Offered to Repurchase	Average Price Paid Per Unit		Repurchase Pricing Date	Amount Repurchased		Number of Units Repurchased		Percentage of Outstanding Units Repurchased
March 27, 2025	2.50%	$	9.69	March 31, 2025	$	18,917,680		1,952,289	2.50% ⁽¹⁾
September 26, 2025	2.50%	$	9.47	September 30, 2025	$	21,512,513		2,270,785	2.72% ⁽²⁾

(1)

Percentage is based on total Units as of the close of the previous calendar quarter. The Fund accepted for purchase 33.3% of the Units of the Fund that were validly tendered and not withdrawn prior to the expiration of the offer as permitted by Rule 13e-4(f)(1).

(2)

Percentage is based on total Units as of the close of the previous calendar quarter. The Fund accepted for purchase 100.0% of the Units of the Fund that were validly tendered and not withdrawn prior to the expiration of the Offer as permitted by Rule 13e-4(f)(1). In accordance with rules promulgated by the U.S. Securities and Exchange Commission, the Fund determined to accept for purchase Units in excess of the Tender Cap of 2.5% of the Fund’s outstanding Units by up to, but not more than, 2.0% of the outstanding Units without amending or extending the Offer.