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Equity (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Company's Authorized, Issued and Outstanding Shares

As of September 30, 2024 and December 31, 2023, the Company had the following classes of common stock authorized, issued and outstanding:

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Classification

 

Shares Authorized

 

 

Shares Issued and Outstanding

 

 

Shares Authorized

 

 

Shares Issued and Outstanding

 

Preferred Stock, $0.01 par value per share

 

 

100,000,000

 

 

 

—

 

 

 

100,000,000

 

 

 

—

 

Class S Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

4,795

 

 

 

100,000,000

 

 

 

—

 

Class D Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

—

 

 

 

100,000,000

 

 

 

—

 

Class I Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

508,350

 

 

 

100,000,000

 

 

 

—

 

Class F-S Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

—

 

 

 

100,000,000

 

 

 

—

 

Class F-D Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

—

 

 

 

100,000,000

 

 

 

—

 

Class F-I Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

1,562,148

 

 

 

100,000,000

 

 

 

4,820,377

 

Class A-I Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

14,964,170

 

 

 

100,000,000

 

 

 

17,016,652

 

Class A-II Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

21,162,241

 

 

 

100,000,000

 

 

 

—

 

Class A-III Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

—

 

 

 

100,000,000

 

 

 

—

 

Class E Shares, $0.01 par value per share

 

 

100,000,000

 

 

 

360,888

 

 

 

100,000,000

 

 

 

105,707

 

Total

 

 

1,100,000,000

 

 

 

38,562,592

 

 

 

1,100,000,000

 

 

 

21,942,736

 
Schedule of Movement In The Company's Outstanding Shares of Common Stock

The following table details the movement in the Company's outstanding shares of common stock:

 

 

 

Class I

 

 

Class S

 

 

Class F-I

 

 

Class A-I

 

 

Class A-II

 

 

Class E

 

Beginning balance, December 31, 2023

 

 

—

 

 

 

—

 

 

 

4,820,377

 

 

 

17,016,652

 

 

 

—

 

 

 

105,707

 

Common stock issued

 

 

201,505

 

 

 

—

 

 

 

594,229

 

 

 

1,787,026

 

 

 

1,671,686

 

 

 

73,366

 

Repurchase of common stock

 

 

—

 

 

 

—

 

 

 

(2,476

)

 

 

—

 

 

 

(5,000

)

 

 

—

 

Dividend reinvestment

 

 

272

 

 

 

—

 

 

 

3,824

 

 

 

37,473

 

 

 

2,189

 

 

 

1,620

 

Share class transfer

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(12,477,404

)

 

 

12,502,989

 

 

 

—

 

Ending balance, March 31, 2024

 

 

201,777

 

 

 

—

 

 

 

5,415,954

 

 

 

6,363,747

 

 

 

14,171,864

 

 

 

180,693

 

Common stock issued

 

 

157,759

 

 

 

4,795

 

 

 

1,461,907

 

 

 

1,702,361

 

 

 

2,479,255

 

 

 

75,223

 

Repurchase of common stock

 

 

—

 

 

 

—

 

 

 

(92,330

)

 

 

(1,235

)

 

 

(72,253

)

 

 

—

 

Dividend reinvestment

 

 

1,932

 

 

 

—

 

 

 

4,197

 

 

 

54,101

 

 

 

4,353

 

 

 

2,767

 

Share class transfer

 

 

—

 

 

 

—

 

 

 

(5,225,608

)

 

 

5,155,772

 

 

 

—

 

 

 

—

 

Ending balance, June 30, 2024

 

 

361,468

 

 

 

4,795

 

 

 

1,564,120

 

 

 

13,274,746

 

 

 

16,583,219

 

 

 

258,683

 

Common stock issued

 

 

144,423

 

 

 

—

 

 

 

—

 

 

 

1,628,306

 

 

 

4,635,279

 

 

 

98,168

 

Repurchase of common stock

 

 

—

 

 

 

—

 

 

 

(6,078

)

 

 

(7,485

)

 

 

(62,290

)

 

 

—

 

Dividend reinvestment

 

 

2,459

 

 

 

—

 

 

 

4,106

 

 

 

68,603

 

 

 

6,033

 

 

 

4,037

 

Ending balance, September 30, 2024

 

 

508,350

 

 

 

4,795

 

 

 

1,562,148

 

 

 

14,964,170

 

 

 

21,162,241

 

 

 

360,888

 
Schedule of Aggregate Distributions Declared For Each Applicable Class of Common Stock

The following table details the aggregate distributions declared for each applicable class of common stock:

 

Three Months Ended September 30, 2024

 

 

 

Class I

 

 

Class S

 

 

Class F-I

 

 

Class A-I

 

 

Class A-II

 

 

Class E

 

Aggregate gross distribution declared per share of common stock

 

$

0.3359

 

 

$

0.3359

 

 

$

0.3359

 

 

$

0.3359

 

 

$

0.3359

 

 

$

0.3359

 

Management fee per share of common stock

 

 

(0.0659

)

 

 

(0.0660

)

 

 

(0.0527

)

 

 

(0.0530

)

 

 

(0.0488

)

 

 

—

 

Stockholder servicing fee per share of common stock

 

 

—

 

 

 

(0.0448

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net distribution declared per share of common stock

 

$

0.2700

 

 

$

0.2251

 

 

$

0.2832

 

 

$

0.2829

 

$

0.2871

 

 

$

0.3359

 

 

 

Nine Months Ended September 30, 2024

 

 

 

Class I

 

 

Class S

 

 

Class F-I

 

 

Class A-I

 

 

Class A-II

 

 

Class E

 

Aggregate gross distribution declared per share of common stock

 

$

0.8606

 

 

$

0.5497

 

 

$

0.9578

 

 

$

0.9578

 

 

$

0.9578

 

 

$

0.9578

 

Management fee per share of common stock

 

 

(0.1751

)

 

 

(0.1098

)

 

 

(0.1566

)

 

 

(0.1581

)

 

 

(0.1455

)

 

 

—

 

Stockholder servicing fee per share of common stock

 

 

—

 

 

 

(0.0744

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net distribution declared per share of common stock

 

$

0.6855

 

 

$

0.3655

 

 

$

0.8012

 

 

$

0.7997

 

$

0.8123

 

 

$

0.9578

 
Redeemable Non-controlling Interest Activity Related to Adviser

The following table details the redeemable non-controlling interest activity related to the Adviser for the nine months ended September 30, 2024 ($ in thousands):

 

Adviser

 

Balance at December 31, 2023

 

$

967

 

Settlement of management fees

 

 

823

 

Settlement of performance participation allocation

 

 

562

 

GAAP income allocation

 

 

109

 

Distributions

 

 

(94

)

Reinvestment of distributions

 

 

84

 

Fair value allocation

 

 

22

 

Balance at September 30, 2024

 

$

2,473