Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2024


	Year Ended			Year Ended			Year Ended			For the period from May 10, 2021 (commencement of operations) to
($ in thousands, except share and per share amounts)	December 31, 2024			December 31, 2023			December 31, 2022			December 31, 2021
Per share data:
Net asset value at beginning of period	$	20.84		$	20.55		$	20.58		$	—
Net investment income(1)	2.40			2.49			2.01			1.20
Net realized gain (loss) on investments / foreign currency transactions / forward currency contracts(1)	(0.51)			(0.19)			0.68			0.09
Net unrealized appreciation (depreciation) on investments / foreign currency transactions / forward currency contracts(1)	0.47			0.30			(0.98)			0.10
Total increase from investment operations(1)	2.36			2.60			1.71			1.39
Dividends paid to stockholders from net investment income	(2.40)			(2.26)			(1.65)			(0.81)
Dividends paid to stockholders from short-term realized gains	—			—			(0.09)			—
Dividends paid to stockholders from long-term realized gains	—			(0.05)			—			—
Total dividends declared	(2.40)			(2.31)			(1.74)			(0.81)

Issuance of common stock	—			—			—			20.00







Net asset value at end of period	$	20.80		$	20.84		$	20.55		$	20.58

Shares outstanding at end of period	95,007,965			62,714,487			52,900,314			40,551,193
Net assets at end of period	$	1,976,636		$	1,306,995		$	1,087,303		$	834,406
Average net assets	$	1,687,735		$	1,193,140		$	1,002,258		$	580,568
Ratio of total expenses, prior to waiver of base management fee, to average net assets(2)(3)	7.78		%	10.24		%	5.91		%	3.65		%
Ratio of total expenses to average net assets(2)(3)	7.78		%	10.24		%	5.91		%	3.25		%
Ratio of net investment income to average net assets(2)(3)	11.91		%	12.21		%	9.82		%	9.26		%
Portfolio turnover ratio(3)(4)	25.89		%	18.02		%	12.39		%	20.69		%
Total return(5)	11.92		%	13.30		%	8.43		%	7.03		%

(1)Weighted average per share data—basic and diluted; per share data was derived by using the weighted average shares outstanding during the applicable period.

(2)Does not include the expenses of underlying investment companies, including joint ventures and short-term investments.

(3)For the period from May 10, 2021 (commencement of operations) through December 31, 2021, reflects annualized amounts except in the case of non-recurring expenses (e.g. initial organization expenses, offering costs and excise tax).

(4)Portfolio turnover ratio as of December 31, 2024 excludes the impact of short-term investments.

(5)Total return is calculated as the change in NAV per share during the period, divided by the beginning NAV per share and assumes reinvestment of dividends at prices obtained by the Company’s dividend reinvestment plan during the period. For purposes of the total return calculation for the period from May 10, 2021 (commencement of operations) to December 31, 2021, beginning NAV is assumed to be the first share issuance at $20.00 per share.