Commitments (Tables)

12 Months Ended

Sep. 30, 2025

Commitments [Abstract]

Schedule of Composition of the Unfunded Commitments

A summary of the composition of the unfunded commitments as of September 30, 2025 and 2024 is shown in the table below (dollars in thousands):

	September 30, 2025		September 30, 2024
MB Precision Investment Holdings LLC - Senior Secured First Lien Revolver	$	85	$	-
MB Precision Investment Holdings LLC - Senior Secured Delayed Draw Term Loan		1,521		-
PREIT Associates - Revolver		61		-
PSB Group, LLC - Revolver		472		-
SS Acquisition, LLC (dba Soccer Shots Franchising) - Revolver		1,029		-
Tamarix Capital Partners II, L.P. - Fund Investment		865		1,313
WHI Global, LLC - Revolver		1,484		-
XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - First Out Delayed Draw Term Loan		-		57
XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - Last Out Delayed Draw Term Loan		-		246
Total unfunded commitments	$	5,517	$	1,616

Schedule of Future Minimum Payments Under Phenixfin’s Operating Lease

The following table shows future minimum payments under PhenixFIN’s operating lease as of September 30, 2025:

For the Years Ended September 30,	Amount
2026	$	184,538
2027		325,261
2028		335,019
2029		345,070
2030		355,422
Thereafter		1,908,314
		3,453,624
Difference between undiscounted and discounted cash flows		(1,014,219	)
	$	2,439,405