COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

In the ordinary course of its business, the Fund enters into contracts or agreements that contain indemnifications or warranties. Future events could occur that might lead to the enforcement of these provisions against the Fund. The Fund believes that the likelihood of such an event is remote; however, the maximum potential exposure is unknown. No accrual has been made in the consolidated financial statements as of December 31, 2024 and December 31, 2023 for any such exposure.

As of December 31, 2024 and December 31, 2023, the Fund had the following unfunded investment commitments:

Portfolio Company	December 31, 2024		December 31, 2023
360 Holdco, Inc. (360 Training) - Delayed Draw Loan	$	3,580	$	—
AB Centers Acquisition Corporation (Action Behavior Centers) - Delayed Draw Loan	2,346		—
Acclaim Midco, LLC (dba ClaimLogiQ) - Delayed Draw Loan	—		891
ADPD Holdings LLC (NearU) - Delayed Draw Loan	1,246		1,919
All Star Recruiting Locums, LLC (All Star Healthcare Solutions) - Delayed Draw Loan	1,063		—
AmerCareRoyal, LLC - Delayed Draw Loan	3,307		—

Portfolio Company	December 31, 2024		December 31, 2023
Apex Service Partners, LLC - Delayed Draw Loan	$	2,194	$	—
Apex Service Partners, LLC - Revolving Loan	352		—
Aramsco - Delayed Draw Loan	—		520
R Arax Co-Invest UB, LP (Arax Investment Partners)	533		—
Archer Acquisition, LLC (ARMstrong) -Delayed Draw Loan	729		1,007
Ascend Partner Services LLC - Delayed Draw Loan	12,642		—
ASTP Holdings Co-Investment LP (American Student Transportation Partners)	82		26
AWP Group Holdings, Inc. - Delayed Draw Loan	1,978		—
Big Apple Advisory, LLC - Delayed Draw Loan	4,305		—
Big Apple Advisory, LLC - Revolving Loan	1,740		—
Bridges Consumer Healthcare Intermediate LLC - Delayed Draw Loan	2,439		—
Cedar Services Group, LLC (Evergreen Services Group II) - Delayed Draw Loan	—		923
Chroma Color Corporation - Delayed Draw Loan	—		381
CLS Management Services, LLC (Contract Land Staff) - Delayed Draw Loan	4,418		—
CMP Ren Partners I-A LP (LMI Consulting, LLC)	2		2
CMP Terrapin Partners I LP (Clarity Innovations, Inc.)	6		—
Cobalt Service Partners, LLC - Delayed Draw Loan	12,048		—
Coding Solutions Acquisition, Inc. - Delayed Draw Loan	1,655		—
Coding Solutions Acquisition, Inc. - Revolving Loan	138		—
Cohen Advisory, LLC - Delayed Draw Loan	4,265		—
Cool Acquisition Holdings, LP (Universal Air Conditioner, L.L.C.)	550		—
Cool Buyer, Inc. (Universal Air Conditioner, L.L.C.) - Delayed Draw Loan	1,000		—
COP Village Green Acquisitions, Inc. (Village Green Holding) - Delayed Draw Loan	536		—
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc) - Delayed Draw Loan	3,487		—
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc) - Revolving Loan	1,411		—
Davidson Hotel Company LLC - Delayed Draw Loan	930		—
Diligent Corporation (fka Diamond Merger Sub II, Corp.) - Delayed Draw Loan	2,553		—
DMC Holdco, LLC (DMC Power) - Delayed Draw Loan	450		—
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators) - Delayed Draw Loan	—		503
ERA Industries, LLC (BTX Precision) - Delayed Draw Loan	135		—
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC) - Delayed Draw Loan	2,051		—
Excel Fitness Holdings, Inc. - Delayed Draw Loan	1,677		—
EyeSouth Eye Care Holdco LLC - Delayed Draw Loan	—		266
FirstCall Mechanical Group, LLC - Delayed Draw Loan	13,600		—
FoodScience, LLC - Delayed Draw Loan	5,588		—
Gannett Fleming, Inc. - Revolving Loan	2,131		—
Health Management Associates, Inc. - Delayed Draw Loan	773		415
Heartland Paving Partners, LLC - Delayed Draw Loan	11,429		—
Heartland Veterinary Partners LLC - Delayed Draw Loan	1,966		—
HMN Acquirer Corp. - Delayed Draw Loan	2,144		—
INS Co-Invest LP (Inszone)	3		—
Impact Environmental Group - Delayed Draw Loan	—		1,832
Infobase Acquisition, Inc. - Delayed Draw Loan	—		122

Portfolio Company	December 31, 2024		December 31, 2023
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions) - Delayed Draw Loan	$	1,139	$	1,139
Integrated Power Services Holdings, Inc. - Delayed Draw Loan	3,180		—
ISG Enterprises, LLC (Industrial Service Group) - Delayed Draw Loan	256		2,019
ITSavvy LLC - Delayed Draw Loan	—		36
Kenco PPC Buyer LLC - Delayed Draw Loan	8,669		850
KENE Acquisition, Inc. (Entrust Solutions Group) - Delayed Draw Loan	777		—
KENG Acquisition, Inc. (Engage PEO) - Delayed Draw Loan	10,074		2,040
KL Bronco Acquisition, Inc. (Elevation Labs) - Delayed Draw Loan	1,708		599
KRIV Acquisition, Inc. (Riveron) - Delayed Draw Loan	8,276		779
Legacy Service Partners - Delayed Draw Loan	—		306
Matador US Buyer, LLC (Insulation Technology Group) - Delayed Draw Loan	5,226		—
MEI Buyer LLC - Delayed Draw Loan	—		501
Mobile Communications America, Inc. - Delayed Draw Loan	4,308		1,463
Motion & Control Enterprises - Delayed Draw Loan	—		1,704
MPG Parent Holdings, LLC (Market Performance Group) - Delayed Darw Loan	4,397		—
National Power - Delayed Draw Loan	—		799
NFM & J, L.P. (The Facilities Group) - Delayed Draw Loan	1,375		—
North Haven Stack Buyer, LLC - Delayed Draw Loan	2,839		—
OMNIA Partners, LLC - Delayed Draw Loan	—		129
Online Labels Group, LLC - Delayed Draw Loan	771		237
Orion Group FM Holdings, LLC (Leo Facilities) - Delayed Draw Loan	20,481		2,571
Ovation Holdings, Inc - Delayed Draw Loan	6,983		127
PAG Holding Corp. (Precision Aviation Group) - Delayed Draw Loan	—		2,480
Palmetto Acquisitionco, Inc. (Tech24) - Delayed Draw Loan	431		919
Perennial Services Group, LLC - Delayed Draw Loan	1,560		—
Pinnacle Supply Partners, LLC - Delayed Draw Loan	2,153		1,455
PT Intermediate Holdings III, LLC - Delayed Draw Loan	196		—
Randys Holdings, Inc. (Randy's Worldwide Automotive) - Delayed Draw Loan	2,903		1,332
Refresh Buyer, LLC (Sunny Sky Products) - Delayed Draw Loan	1,289		464
Rhino Intermediate Holding Company LLC (Rhino Tool House) - Delayed Draw Loan	—		306
Ridge Trail US Bidco, Inc. (Options IT) - Delayed Draw Loan	3,187		—
Ridge Trail US Bidco, Inc. (Options IT) - Revolving Loan	775		—
Rose Paving, LLC - Delayed Draw Loan	146		—
SI Solutions, LLC - Delayed Draw Loan	4,951		—
Signia Aerospace, LLC - Delayed Draw Loan	108		—
SkyKnight Financial Holdings LP	50		—
Smith & Howard Advisory LLC - Delayed Draw Loan	2,078		—
Specialist Resources Global Inc. - Delayed Draw Loan	11,790		—
Sugar PPC Buyer LLC (Sugar Foods) - Delayed Draw Loan	4,348		1,173
TBRS, Inc. - Delayed Draw Loan	1,953		—
TBRS, Inc. - Revolving Loan	1,168		—
Thermostat Purchaser III, Inc. - Delayed Draw Loan	3,284		—
Tidi Legacy Products, Inc. - Delayed Draw Loan	4,183		1,201
Transit Buyer, LLC (Propark Mobility) - Delayed Draw Loan	489		665

Portfolio Company	December 31, 2024		December 31, 2023
Trilon Group, LLC - Delayed Draw Loan	$	7,896	$	—
TSS Buyer, LLC (Technical Safety Services) - Delayed Draw Loan	68		—
USA Water Intermediate Holdings, LLC - Delayed Draw Loan	3,114		—
USALCO - Delayed Draw Loan	131		—
Vensure Employer Services, Inc. - Delayed Draw Loan	2,751		—
Venture Buyer, LLC (Velosio) - Delayed Draw Loan	1,635		—
Vertex Service Partners, LLC - Delayed Draw Loan	8,760		1,777
Vessco Midco Holdings, LLC - Delayed Draw Loan	3,365		—
Vessco Midco Holdings, LLC - Revolving Loan	1,726		—
Victors CCC Buyer (CrossCountry Consulting) - Delayed Draw Loan	—		560
WSB Engineering Holdings Inc. - Delayed Draw Loan	361		1,096
YI, LLC (Young Innovations) - Delayed Draw Loan	3,335		1,431
Total unfunded commitments	$	274,125	$	38,965

The Fund seeks to carefully consider its unfunded investment commitments for the purpose of planning its ongoing liquidity. As of December 31, 2024, the Fund had adequate financial resources to satisfy its unfunded investment commitments.