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Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2024

Investment Company, Financial Highlights [Abstract]

The following are the financial highlights for the nine months ended September 30, 2024 and 2023:


	For the Nine Months Ended September 30,
	2024			2023
Per Share Data:
Net assets, beginning of period	$	23.26		$	21.78
Net investment income (1)		2.24			2.39
Net realized gain (loss) (1)		0.32			0.00
Net change in unrealized appreciation (depreciation) (2)		0.31			1.19
Net increase in net assets resulting from operations		2.87			3.58
Distributions declared from net investment income (3)		(2.05	)		(1.98	)
Issuance of shares in connection with our DRP program		(0.01	)		(0.04	)
Total increase (decrease) in net assets		0.81			1.56
Net assets, end of period	$	24.07		$	23.34
Shares outstanding, end of period		88,100,334			34,621,102
Total return based on NAV (4)		12.72	%		16.96	%
Ratios:
Expenses to average net assets (5)		14.03	%		14.04	%
Net investment income to average net assets (5)		11.27	%		13.96	%
Portfolio turnover rate (6)		24.74	%		16.36	%
Supplemental Data:
Net assets, end of period	$	2,121,656		$	807,998
Total capital commitments, end of period	$	2,265,788		$	1,357,933
Ratios of total contributed capital to total committed capital, end of period		83.86	%		53.39	%
Average debt outstanding	$	1,654,321		$	718,060
Asset coverage ratio (7)		200.0	%		190.3	%

(1)

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

(2)

For the nine months ended September 30, 2024 and 2023, the amount shown does not correspond with the aggregate amount for the period as it includes the effect of the timing of capital transactions.

(3)

The per share data was derived using the actual shares outstanding at the date of the relevant transaction (See Note 9).

(4)

Total return (not annualized) is calculated as the change in net assets per share during the period, plus distributions per share (assuming distributions are reinvested in accordance with the Company's distribution reinvestment plan), divided by the net assets per share at the beginning of the period.

(5)

Amounts are annualized except for non-recurring income and expenses (other income, organization and offering expenses and incentive fees on capital gains).

(6)

Portfolio turnover rate is calculated using the lesser of the year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the period reported.

(7)

In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing.