RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2026

The following table summarizes the related party costs incurred by the Company for the three and six months ended June 30, 2026:


	Three months ended June 30, 2026		Six months ended June 30, 2026

Affiliate Costs
Management fees before rebate	$	1,078,792	$	2,052,027
Less: outside fees earned	(176,420)		(410,408)
Management fees	902,372		1,641,619
Incentive fee on net investment income	738,455		1,762,180
General and administrative expenses reimbursable to Adviser	763,142		1,449,064
Professional fees reimbursable to Adviser	54,927		74,950
Total	$	2,458,896	$	4,927,813

The following table summarizes the related party costs incurred by the Company under the Management Agreement prior to the Conversion for the three and six months ended June 30, 2025:


	Three months ended June 30, 2025		Six months ended June 30, 2025

Affiliate Costs
Management fees	$	941,100	$	1,885,870
Less: outside fees earned	(260,742)		(389,322)
Base management fees	680,358		1,496,548
Incentive fees earned	—		—
General and administrative expenses reimbursable to Manager	565,349		1,127,845
Professional fees reimbursable to Manager	12,094		18,132
Total	$	1,257,801	$	2,642,525