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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
11 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Investment income:      
Payment-in-kind interest income $ 1,275,000 $ 4,427,000 $ 2,333,000
Dividend income 0 65,000 123,000
Other income 504,000 722,000 178,000
Expenses:      
Organizational expenses 1,081,000 [1] 0 0
Interest and debt financing expenses 4,083,000 [1] 19,269,000 10,752,000
Interest expense on Note (See Note 5) 226,000 [1] 0 0
Professional fees 708,000 [1] 1,040,000 762,000
Management fees (See Note 5) 0 [1] 4,667,000 1,292,000
Income based incentive fees (See Note 5) 0 [1] 10,089,000 3,108,000
Board of Trustees’ fees 385,000 [1] 508,000 508,000
Administration fees 299,000 [1] 825,000 517,000
Other general and administrative expenses 260,000 [1] 2,064,000 682,000
Distribution and shareholder servicing fees 0    
Amortization of offering costs 228,000 [1] 600,000 659,000
Total expenses 7,270,000 [1] 39,205,000 18,286,000
Expense support (See Note 5) (1,558,000) [1] (764,000) (750,000)
Management fees waived (See Note 5) 0 [1] (3,001,000) (1,292,000)
Incentive fees waived (See Note 5) 0 [1] (10,089,000) (3,108,000)
Net expenses 5,712,000 [1] 25,351,000 13,136,000
Net investment income before excise taxes 16,808,000 [1] 71,724,000 34,698,000
Excise taxes 2,000 [1] 202,000 31,000
Net investment income (loss) 16,806,000 [2] 71,522,000 34,667,000
Realized and unrealized gain (loss) on investments:      
Net realized gain (loss) on non-controlled/non-affiliated company investments (347,000) [3] 766,000 768,000
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments (3,480,000) [3] (1,940,000) (652,000)
Income tax (provision) benefit 0 32,000 (61,000)
Net increase (decrease) in net assets resulting from operations 12,979,000 [2],[3] 70,380,000 34,722,000
Common Class S      
Expenses:      
Distribution and shareholder servicing fees $ 0 [1] $ 108,000 $ 5,000
Per share data:      
Net investment income (loss) per share - basic (in dollars per share) $ 0 [1] $ 2.46 $ 0.73
Net investment income (loss) per share - diluted (in dollars per share) 0 [1] 2.46 0.73
Net increase (decrease) in net assets resulting from operations per share (in dollars per share) $ 0 [1] $ 2.42 $ 0.90
Weighted average common shares outstanding - basic (in shares) 0 [1] 519,821 88,660
Weighted average common shares outstanding - diluted (in shares) 0 [1] 519,821 88,660
Common Class D      
Expenses:      
Distribution and shareholder servicing fees $ 0 [1] $ 35,000 $ 1,000
Per share data:      
Net investment income (loss) per share - basic (in dollars per share) $ 0 [1] $ 2.60 $ 0.76
Net investment income (loss) per share - diluted (in dollars per share) 0 [1] 2.60 0.76
Net increase (decrease) in net assets resulting from operations per share (in dollars per share) $ 0 [1] $ 2.57 $ 0.98
Weighted average common shares outstanding - basic (in shares) 0 [1] 574,417 53,295
Weighted average common shares outstanding - diluted (in shares) 0 [1] 574,417 53,295
Common Class I      
Per share data:      
Net investment income (loss) per share - basic (in dollars per share) $ 1.60 [1] $ 2.68 $ 2.97
Net investment income (loss) per share - diluted (in dollars per share) 1.60 [1] 2.68 2.97
Net increase (decrease) in net assets resulting from operations per share (in dollars per share) $ 1.24 [1] $ 2.64 $ 2.98
Weighted average common shares outstanding - basic (in shares) 10,501,989 [1] 25,670,708 11,644,451
Weighted average common shares outstanding - diluted (in shares) 10,501,989 [1] 25,670,708 11,644,451
Non-controlled/Non-affiliated      
Investment income:      
Interest income $ 20,741,000 [1] $ 91,861,000 $ 45,200,000
Payment-in-kind interest income 1,275,000 [1] 4,427,000 2,333,000
Dividend income 0 [1] 65,000 123,000
Other income 504,000 [1] 722,000 178,000
Total investment income 22,520,000 [1] 97,075,000 47,834,000
Realized and unrealized gain (loss) on investments:      
Net realized gain (loss) on non-controlled/non-affiliated company investments (347,000) [1] 766,000 768,000
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments (3,480,000) [1] (1,940,000) (652,000)
Income tax (provision) benefit 0 [1] 32,000 (61,000)
Total net change in unrealized gain (loss) (3,480,000) [1] (1,908,000) (713,000)
Total net realized and unrealized gain (loss) on investments $ (3,827,000) [1] $ (1,142,000) $ 55,000
[1] For the period February 8, 2022 (inception) through December 31, 2022
[2] For the period February 8, 2022 (inception) through December 31, 2022
[3] For the period February 8, 2022 (inception) through December 31, 2022.