Financial Highlights and Senior Securities (Tables)

12 Months Ended

Dec. 31, 2024

The following are the financial highlights for the year ended December 31, 2024:


	Year Ended December 31, 2024
	Class I			Class S			Class D
Per Share Data (1):
Net asset value, beginning of period	$	25.39		$	25.39		$	25.39
Net investment income	2.81			2.59			2.75
Net change in unrealized and realized gain (loss)	(0.14)			(0.14)			(0.14)
Net increase (decrease) in net assets resulting from operations	2.67			2.45			2.61
Distributions from net investment income (2)	(2.64)			(2.42)			(2.58)
Distributions from net realized gains (2)	—			—			—
Net increase (decrease) in net assets from shareholders’ distributions	(2.64)			(2.42)			(2.58)
Early repurchase deduction fees (3)	0.00			0.00			0.00
Total increase (decrease) in net assets	0.03			0.03			0.03
Net asset value, end of period	$	25.42		$	25.42		$	25.42
Shares outstanding, end of period	1,009,518,371			496,136,844			22,919,106
Total return based on NAV (4)	11.0		%	10.1		%	10.7		%
Ratios:
Ratio of net expenses to average net assets (5)	8.3		%	9.2		%	8.5		%
Ratio of net investment income to average net assets (5)	10.9		%	10.1		%	10.7		%
Portfolio turnover rate	13.3		%	13.3		%	13.3		%
Supplemental Data:
Net assets, end of period	$	25,661,534		$	12,611,626		$	582,603
Asset coverage ratio	226.5		%	226.5		%	226.5		%

(1)The per share data was derived by using the weighted average shares outstanding during the period.

(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).

(3)The per share amount rounds to less than $0.01 per share, for Class I, Class S and Class D.

(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 fee, if any.

(5)For the year ended December 31, 2024, the ratio of total operating expenses to average net assets was 8.3%, 9.2%, and 8.5% on Class I, Class S and Class D, respectively, excluding the effect of expense support/(recoupment) and management fee and income based incentive fee waivers by the Adviser, if any, which represented 0.0%, 0.0% and 0.0% on Class I, Class S and Class D, respectively, of average net assets.

The following are the financial highlights for the year ended December 31, 2023:


	Year Ended December 31, 2023
	Class I			Class S			Class D
Per Share Data (1):
Net asset value, beginning of period	$	24.59		$	24.59		$	24.59
Net investment income	3.08			2.87			3.02
Net change in unrealized and realized gain (loss)	0.29			0.29			0.29
Net increase (decrease) in net assets resulting from operations	3.37			3.16			3.31
Distributions from net investment income (2)	(2.57)			(2.36)			(2.51)
Distributions from net realized gains (2)	—			—			—
Net increase (decrease) in net assets from shareholders’ distributions	(2.57)			(2.36)			(2.51)
Early repurchase deduction fees (3)	0.00			0.00			0.00
Total increase (decrease) in net assets	0.80			0.80			0.80
Net asset value, end of period	$	25.39		$	25.39		$	25.39
Shares outstanding, end of period	734,579,940			373,864,258			15,452,672
Total return based on NAV (4)	14.4		%	13.4		%	14.1		%
Ratios:
Ratio of net expenses to average net assets (5)	10.3		%	11.1		%	10.6		%
Ratio of net investment income to average net assets (5)	12.3		%	11.5		%	12.0		%
Portfolio turnover rate	13.5		%	13.5		%	13.5		%
Supplemental Data:
Net assets, end of period	$	18,649,595		$	9,492,496		$	392,346
Asset coverage ratio	221.9		%	221.9		%	221.9		%

(1)The per share data was derived by using the weighted average shares outstanding during the period.

(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).

(3)The per share amount rounds to less than $0.01 per share per share, for Class I, Class S and Class D.

(5)For the year ended December 31, 2023, the ratio of total operating expenses to average net assets was 10.3%, 11.1%, and 10.6% on Class I, Class S and Class D, respectively, excluding the effect of expense support/(recoupment) and management fee and income based incentive fee waivers by the Adviser, if any, which represented 0.0%, 0.0% and 0.0% on Class I, Class S and Class D, respectively, of average net assets.

The following are the financial highlights for the year ended December 31, 2022:


	Year Ended December 31, 2022
	Class I			Class S			Class D
Per Share Data (1):
Net asset value, beginning of period	$	25.93		$	25.93		$	25.93
Net investment income	2.44			2.23			2.38
Net change in unrealized and realized gain (loss)	(1.56)			(1.56)			(1.56)
Net increase (decrease) in net assets resulting from operations	0.88			0.67			0.82
Distributions from net investment income (2)	(2.23)			(2.01)			(2.16)
Distributions from net realized gains (2)	—			—			—
Net increase (decrease) in net assets from shareholders’ distributions	(2.23)			(2.01)			(2.16)
Early repurchase deduction fees (3)	0.01			0.00			0.00
Total increase (decrease) in net assets	(1.34)			(1.34)			(1.34)
Net asset value, end of period	$	24.59		$	24.59		$	24.59
Shares outstanding, end of period	591,237,616			282,541,041			48,795,925
Total return based on NAV (4)	3.6		%	2.7		%	3.3		%
Ratios:
Ratio of net expenses to average net assets (5)	7.5		%	8.4		%	8.0		%
Ratio of net investment income to average net assets (5)	9.8		%	9.0		%	9.6		%
Portfolio turnover rate	21.2		%	21.2		%	21.2		%
Supplemental Data:
Net assets, end of period	$	14,537,932		$	6,947,313		$	1,199,819
Asset coverage ratio	184.5		%	184.5		%	184.5		%

(1)The per share data was derived by using the weighted average shares outstanding during the period.

(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).

(3)The per share amount rounds to less than $0.01 per share, for Class S and Class D.

(5)For the year ended December 31, 2022, the ratio of total operating expenses to average net assets was 7.5%, 8.4%, and 8.0% on Class I, Class S and Class D, respectively, excluding the effect of expense support/(recoupment) and management fee and income based incentive fee waivers by the Adviser, if any, which represented 0.0%, 0.0% and 0.0% on Class I, Class S and Class D, respectively, of average net assets.

The following are the financial highlights for the year ended December 31, 2021:


	Year Ended December 31, 2021
	Class I			Class S			Class D (7)
Per Share Data (1):
Net asset value, beginning of period	$	25.00		$	25.00		$	25.59
Net investment income	2.20			1.99			1.46
Net change in unrealized and realized gain (loss) (2)	0.84			0.84			0.39
Net increase (decrease) in net assets resulting from operations	3.04			2.83			1.85
Distributions from net investment income (3)	(2.09)			(1.88)			(1.49)
Distributions from net realized gains (3)	(0.02)			(0.02)			(0.02)
Net increase (decrease) in net assets from shareholders' distributions	(2.11)			(1.90)			(1.51)
Early repurchase deduction fees (4)	0.00			0.00			0.00
Total increase (decrease) in net assets	0.93			0.93			0.34
Net asset value, end of period	$	25.93		$	25.93		$	25.93
Shares outstanding, end of period	346,591,556			132,425,100			16,814,460
Total return based on NAV (5)	12.6		%	11.6		%	7.4		%
Ratios:
Ratio of net expenses to average net assets (6)	4.8		%	5.9		%	5.7		%
Ratio of net investment income to average net assets (6)	8.6		%	7.8		%	8.3		%
Portfolio turnover rate	29.1		%	29.1		%	29.1		%
Supplemental Data:
Net assets, end of period	$	8,985,674		$	3,433,213		$	435,933
Asset coverage ratio	170.2		%	170.2		%	170.2		%

(1)The per share data was derived by using the weighted average shares outstanding during the period.

(2)For the year ended December 31, 2021, the amount shown does not correspond with the aggregate amount for the period as it includes a $0.31, $0.38 and $0.15 impact, on Class I, Class S and Class D, respectively, from the effect of the timing of capital transactions.

(3)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).

(4)The per share amount rounds to less than $0.01 per share, for Class I, Class S and Class D.

(5)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 fee, if any.

(6)For the year ended December 31, 2021, amounts are annualized except for organizational costs, excise tax, and management fee and income based incentive fee waivers by the Adviser, if any. For the year ended December 31, 2021, the ratio of total operating expenses to average net assets was 5.4%, 6.3%, and 5.9% on Class I, Class S and Class D, respectively, on an annualized basis, excluding the effect of expense support/(recoupment) and management fee and income based incentive fee waivers by the Adviser, if any which represented 0.6%, 0.5% and 0.2% on Class I, Class S and Class D, respectively, of average net assets.

(7)Class D commenced on May 1, 2021.