10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 814-01603

Kennedy Lewis Capital Company

(Exact name of registrant as specified in its charter)

Delaware	88-6117755
(State or Other Jurisdiction of Incorporation or Organization)	(IRS Employer Identification No.)

225 Liberty St. Suite 4210	10281
New York, New York (Address of Principal Executive Offices)	(Zip Code)

(212) 782-3842

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
None	None	None

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☐
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

There were 11,552,764 issued and outstanding shares of the issuer’s common stock, $.01 par value per share, on May 14, 2024.

Kennedy Lewis Capital Company

Quarterly Report on Form 10-Q

TABLE OF CONTENTS

			Page
PART I—FINANCIAL INFORMATION			2
	Item 1.	Financial Statements	2
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	39
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	50
	Item 4.	Controls and Procedures	50
PART II—OTHER INFORMATION			51
	Item 1.	Legal Proceedings	51
	Item 1A.	Risk Factors	51
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	51
	Item 3.	Defaults upon Senior Securities	51
	Item 4.	Mine Safety Disclosures	51
	Item 5.	Other Information	51
	Item 6.	Exhibits	52
SIGNATURES			53

PART I—FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Kennedy Lewis Capital Company

Consolidated Statements of Assets and Liabilities

	March 31, 2024 (Unaudited)		December 31, 2023
Assets
Investments at fair value
Non-controlled/non-affiliated investments (cost of $397,318,141 and $345,223,315 at March 31, 2024 and December 31, 2023, respectively)	$	404,711,203	$	352,378,520
Cash and cash equivalents		30,922,871		25,181,139
Restricted cash and cash equivalents		56,233,451		47,844,154
Interest and fee receivable from non-controlled/non-affiliated investments		3,577,091		3,241,015
Deferred financing costs (net of $652,437 and $480,842 in amortized expense at March 31, 2024 and December 31, 2023, respectively)		2,792,655		2,964,249
Deferred offering costs (net of $1,150,921 and $851,065 in amortized expense at March 31, 2024 and December 31, 2023, respectively)		502,875		565,386
Receivable for investments sold		2,991,485		4,150,568
Due from Advisor		649,205		810,355
Other assets		109,687		45,157
Total assets	$	502,490,523	$	437,180,543
Liabilities
Credit Facility (Note 5)		255,000,000		195,000,000
Payable for investments purchased		2,716,000		7,489,135
Distribution payable		—		6,039,749
Interest and credit facility fees payable		3,744,778		3,051,780
Accrued capital gains incentive fee payable		1,122,040		1,090,162
Management fees payable		717,106		690,008
Income incentive fee payable		688,500		652,362
Due to Advisor and affiliates		266,874		309,817
Offering costs payable		212,873		216,950
Accrued expenses and other liabilities		1,249,799		1,024,660
Total liabilities	$	265,717,970	$	215,564,623
Commitments and contingencies (Note 6)
Net Assets
Common shares, $0.01 par value (11,506,727 and 10,785,268 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively)		115,067		107,853
Additional paid in capital		229,282,882		213,932,059
Distributable earnings (loss)		7,374,604		7,576,008
Total net assets	$	236,772,553	$	221,615,920
Total liabilities and net assets	$	502,490,523	$	437,180,543
Net asset value per share	$	20.58	$	20.55

The accompanying notes are an integral part of these consolidated financial statements.

2

Kennedy Lewis Capital Company

Consolidated Statements of Operations

(Unaudited)

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Investment income:
From non-controlled/non-affiliated investments:
Interest income	$	12,589,528		$	905,441
Dividend income		467,467			—
Fee income		55,611			77,042
Total investment income		13,112,606			982,483
Expenses:
Interest and debt fee expense		5,300,574			—
Management fees		716,752			211,049
Income incentive fee		692,650			—
Capital gain incentive fees		141,129			—
Professional fees		600,151			412,744
Amortization of continuous offering costs		299,856			90,647
Administrative services expense		266,874			134,425
Amortization of deferred financing costs		171,594			—
Directors’ fees and expenses		100,000			66,667
Organization costs		—			185,534
Other expenses		115,605			21,272
Total expenses		8,405,185			1,122,338
Expenses waived by the Advisor (Note 3)		(651,775	)		—
Management fee waiver		—			(128,140	)
Net expenses		7,753,410			994,198
Net investment income		5,359,196			(11,715	)
Realized and unrealized gain (loss):
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments		237,857			(971,079	)
Net change in unrealized appreciation (depreciation)		237,857			(971,079	)
Realized gain (loss):
Non-controlled/non-affiliated investments		1,046,710			113,400
Net realized gain (loss)		1,046,710			113,400
Net realized and unrealized gain (loss)		1,284,567			(857,679	)
Net increase (decrease) in net assets resulting from operations	$	6,643,763		$	(869,394	)

The accompanying notes are an integral part of these consolidated financial statements.

3

Kennedy Lewis Capital Company

Consolidated Statements of Changes in Net Assets

(Unaudited)

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Operations:
Net investment income	$	5,359,196		$	(11,715	)
Net realized gain (loss)		1,046,710			113,400
Net change in unrealized appreciation (depreciation)		237,857			(971,079	)
Net increase (decrease) in net assets resulting from operations		6,643,763			(869,394	)
Capital transactions:
Proceeds from shares sold		7,163,000			206,857,000
Distribution of earnings		(6,414,447	)		—
Reinvestments of distributions		7,764,317			—
Net increase (decrease) from share transactions		8,512,870			206,857,000
Total increase (decrease) in net assets		15,156,633			205,987,606
Net Assets, beginning of period		221,615,920			10,000
Net Assets, end of period	$	236,772,553		$	205,997,606
Capital Share activity:
Share sold		346,502			10,403,093
Shares issues from the reinvestment of dividends		374,957			—
Net increase in share outstanding		721,459			10,403,093

The accompanying notes are an integral part of these consolidated financial statements.

4

Kennedy Lewis Capital Company

Consolidated Statements of Cash Flows

(Unaudited)

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	6,643,763		$	(869,394	)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Net change unrealized (appreciation) depreciation on investments		(237,857	)		971,079
Net realized (gain) loss on investments		(1,046,710	)		(113,400	)
Payment-in-kind interest capitalized		(997,974	)		(646	)
Net accretion of discount and amortization of premium		(1,200,240	)		(24,279	)
Amortization of deferred financing costs		171,594			—
Amortization of offering costs		299,856			90,647
Purchases of investments		(113,795,687	)		(118,966,883	)
Proceeds from sale of investments and principal repayments		64,945,786			24,482,869
Changes in operating assets and liabilities:
Interest receivable		(336,076	)		(479,925	)
Deferred offering costs		(241,422	)		(142,706	)
Receivable for investments sold		1,159,083			(17,701,185	)
Due from Advisor		161,150			—
Other assets		(64,530	)		(44,922	)
Payable for investments purchased		(4,773,135	)		64,982,555
Due to Advisor and affiliates		(42,943	)		217,977
Management fee payable		27,098			82,909
Administrative service expense payable		—			32,485
Income incentive fee payable		36,138		—
Capital gains incentive fee payable		31,878			—
Interest and credit facility fees payable		692,998			—
Accrued expenses and other liabilities		225,139			757,809
Net cash provided by (used in) operating activities		(48,342,091	)		(46,725,010	)
Cash flows from financing activities:
Proceeds from Secured Credit Facility		60,000,000			—
Dividends paid in cash		(4,689,880	)		—
Proceeds from issuance of common shares		7,163,000			81,857,000
Net cash provided by (used in) financing activities		62,473,120			81,857,000
Net increase (decrease) in cash and cash equivalents		14,131,029			35,131,990
Cash, cash equivalents and restricted cash, beginning of period		73,025,293			10,000
Cash, cash equivalents and restricted cash, end of period		87,156,322			35,141,990
Supplemental information and non-cash activities:
Subscription receivable		—			125,000,000
Cash paid for interest		4,607,576			—
Reinvestment of distributions		7,764,317			—

The accompanying notes are an integral part of these consolidated financial statements.

5

Kennedy Lewis Capital Company

Consolidated Schedule of Investments

March 31, 2024

(Unaudited)

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost			Fair Value		Percentage of Net Assets
Investments—non-controlled/non-affiliated(4)    Equity Investments
Commercial Services & Supplies
KKR Tinder TFC Aggregator L.P. (5)							14,792,309	$	14,792,309		$	15,715,487		6.64
Total Commercial Services & Supplies								$	14,792,309		$	15,715,487		6.64	%
Total Equity Investments								$	14,792,309		$	15,715,487		6.64	%
First and Second Lien Debt Aerospace & Defense
Cassavant Holdings, LLC (5)	8.00%/7.00% PIK		15.00	%	6/23/2028		20,148,358		19,682,935			19,572,115		8.27
Total Aerospace & Defense								$	19,682,935		$	19,572,115		8.27	%
Air Freight & Logistics
Inmar, Inc. (11)	S+5.50%		10.85	%	5/1/2026		2,977,671		2,951,999			2,975,824		1.26
LaserShip, Inc. (11)	S+4.50%		10.40	%	5/7/2028		2,002,980		1,809,366			1,861,770		0.79
Total Air Freight & Logistics								$	4,761,365		$	4,837,594		2.05	%
Automobile Components
BBB Industries LLC (11)	S+5.25%		10.68	%	7/25/2029		3,954,950		3,784,359			3,766,259		1.59
First Brands Group, LLC	S+5.00%		10.57	%	3/30/2027		1,985,296		1,928,047			1,984,462		0.84
Total Automobile Components								$	5,712,406		$	5,750,721		2.43	%
Biotechnology
Star Parent, Inc. (11)	S+4.00%		9.31	%	9/27/2030		3,000,000		2,957,499			2,980,140		1.26
Total Biotechnology								$	2,957,499		$	2,980,140		1.26	%
Building Products
Foundation Building Materials Inc	S+4.00%		9.31	%	1/29/2031		2,437,500		2,413,225			2,446,031		1.03
Oscar AcquisitionCo, LLC (11)	S+4.50%		9.90	%	4/29/2029		1,733,672		1,689,346			1,736,931		0.73
Recess Holdings, Inc. (5)(11)	S+4.00%		9.84	%	3/29/2027		3,000,000		2,955,574			3,009,390		1.27
Trulite Holding Corp (5)	S+6.00%		11.33	%	8/1/2030		3,000,000		2,940,687			2,988,750		1.26
Total Building Products								$	9,998,832		$	10,181,102		4.29	%
Chemicals
Cyanco Intermediate 2 Corp. (11)	S+4.75%		10.08	%	7/10/2028		2,556,429		2,510,746			2,563,893		1.08
LSF11 A5 Holdco LLC (11)	S+4.25%		9.68	%	10/15/2028		3,970,000		3,909,828			3,971,985		1.68
Total Chemicals								$	6,420,574		$	6,535,878		2.76	%
Commercial Services & Supplies
AVSC Holding Corp.	S+3.00%/.25% PIK		8.93	%	3/3/2025		3,963,800		3,879,806			3,966,535		1.68
Brand Industrial Services Inc. (11)	S+5.50%		10.81	%	8/1/2030		992,506		955,305			995,871		0.42
Eagle Parent Corp. (11)	S+4.25%		9.55	%	4/2/2029		2,969,697		2,939,353			2,941,247		1.24
EnergySolutions, LLC (11)	S+4.00%		9.31	%	9/20/2030		995,000		983,273			998,890		0.42
Heritage-Crystal Clean, Inc.	S+5.00%		10.32	%	10/17/2030		997,500		973,697			997,809		0.42
J-O Building Company LLC (5)(11)	S+6.75%		12.10	%	5/25/2028		12,885,649		12,715,421			12,982,291		5.48
The Action Environmental Group, Inc. (5)(6)	S+4.50%		—		10/24/2030		130,435		(915	)		—		0.00
The Action Environmental Group, Inc. (5)	S+4.50%		9.82	%	10/24/2030		869,565		857,224			869,565		0.37
USA Debusk LLC (5)(11)	S+6.50%		11.93	%	9/8/2026		9,950,000		9,789,462			10,136,563		4.28
USA Debusk LLC (5)(11)	S+6.50%		11.93	%	9/8/2026		2,992,500		2,939,369			3,048,609		1.29
Total Commercial Services & Supplies								$	36,031,995		$	36,937,380		15.60	%

The accompanying notes are an integral part of these consolidated financial statements

6

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

March 31, 2024

(Unaudited)

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost			Fair Value			Percentage of Net Assets
Construction & Engineering
BP Loenbro Holdings Inc (5)	S+6.25%		—		2/1/2029		1,834,862		(13,310	)		(13,310	)		(0.01	)
BP Loenbro Holdings Inc (5)	S+6.25%		—		2/1/2029		1,834,862		(26,619	)		(26,619	)		(0.01	)
BP Loenbro Holdings Inc (5)	S+6.25%		11.57	%	2/1/2029		16,330,275		16,091,451			16,091,451			6.80
MEI Buyer LLC (5)(11)	S+6.50%		11.83	%	6/29/2029		15,145,578		14,732,848			14,734,376			6.22
MEI Buyer LLC (5)(6)(11)	S+6.50%		—		6/29/2029		2,650,602		(69,363	)		(71,964	)		(0.03	)
MEI Buyer LLC (5)(6)(11)	S+6.50%		—		6/29/2029		2,409,639		(31,657	)		(65,422	)		(0.03	)
Total Contruction and Engineering								$	30,683,350		$	30,648,512			12.94	%
Containers, Packaging & Glass
Tank Holding Corp. (5)(11)	S+5.75%		11.18	%	3/31/2028		992,424		965,960			976,923			0.41
Tank Holding Corp. (5)(11)	S+6.00%		11.43	%	3/31/2028		3,782,301		3,696,033			3,720,838			1.57
Tank Holding Corp. (5)(6)(11)	S+6.00%		11.43	%	3/31/2028		1,634,139		713,313			707,037			0.30
Total Containers, Packaging & Glass								$	5,375,306		$	5,404,798			2.28	%
Distributors
American Auto Auction Group, LLC (11)	S+5.00%		10.46	%	12/30/2027		1,974,697		1,882,961			1,957,418			0.83
Aramsco, Inc. (11)	S+4.75%		10.06	%	10/10/2030		2,554,455		2,505,721			2,558,721			1.08
Aramsco, Inc. (6)(11)	S+4.75%		—		10/10/2030		445,545		—			744			0.00
BCPE Empire Holdings, Inc. (11)	S+4.75%		9.33	%	12/11/2028		3,980,000		3,960,265			3,981,751			1.68
Total Distributors								$	8,348,947		$	8,498,634			3.59	%
Diversified Consumer Services
AMCP Clean Acquisition Company, LLC (5)	S+5.00%		10.33	%	6/15/2028		1,000,000		985,206			990,000			0.42
Spring Education Group, Inc. (11)	S+4.50%		9.81	%	10/4/2030		3,990,000		3,942,180			4,003,965			1.69
Total Diversified Consumer Services								$	4,927,386		$	4,993,965			2.11	%
Electric Utilities
Cricket Valley Energy Center (5)(7)(11)	S+3.90%		9.20	%	6/30/2025		2,937,809		2,723,309			2,761,688			1.17
Kestrel Acquisition LLC	S+4.25%		9.68	%	6/2/2025		1,994,036		1,989,549			1,983,448			0.84
Lackawanna Energy Center LLC (11)	S+5.00%		10.33	%	8/3/2029		4,089,879		3,977,342			4,062,599			1.72
Lackawanna Energy Center LLC (11)	S+5.00%		10.33	%	8/6/2029		889,518		865,042			883,584			0.37
Total Electric Utilities								$	9,555,242		$	9,691,319			4.10	%
Electrical Equipment
Voltagrid LLC (5)	S+6.50%		—		9/1/2025		3,453,750		(65,146	)		(132,451	)		(0.06	)
Voltagrid LLC (5)	S+6.50%		11.91	%	3/1/2029		34,451,156		33,090,518			33,129,954			13.99
Total Electrical Equipment								$	33,025,372		$	32,997,503			13.93	%
Gas Utilities
Parkway Generation, LLC	S+4.75%		10.32	%	2/18/2029		872,906		848,083			869,632			0.37
Parkway Generation, LLC	S+4.75%		10.32	%	2/18/2029		115,960		112,665			115,525			0.05
Total Gas Utilities								$	960,748		$	985,157			0.42	%
Ground Transportation
Odyssey Logistics & Technology Corporation (11)	S+4.50%		9.83	%	10/12/2027		995,000		977,772			993,637			0.42
Total Ground Transportation								$	977,772		$	993,637			0.42	%
Health Care Equipment & Supplies
NMN Holdings III Corp.	S+3.50%		8.94	%	11/13/2025		289,393		274,328			284,329			0.12
NMN Holdings III Corp.	S+3.50%		8.94	%	11/13/2025		1,348,442		1,282,551			1,324,844			0.56
Total Health Care Equipment & Supplies								$	1,556,879		$	1,609,173			0.68	%

The accompanying notes are an integral part of these consolidated financial statements.

7

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

March 31, 2024

(Unaudited)

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost			Fair Value			Percentage of Net Assets
Health Care Providers & Services
ADMI Corp	S+5.75%		11.08	%	12/23/2027		1,995,000		1,995,000			1,995,000			0.84
Charlotte Buyer, Inc. (11)	S+5.25%		10.57	%	2/11/2028		2,452,569		2,395,279			2,458,431			1.04
Heartland Dental, LLC (11)	S+5.00%		10.33	%	4/28/2028		2,554,091		2,473,136			2,556,338			1.08
Help At Home, Inc.	S+5.00%		10.44	%	10/29/2027		111,180		109,644			110,485			0.05
Help At Home, Inc.	S+5.00%		10.44	%	10/29/2027		878,619		866,519			873,128			0.37
Help At Home, Inc.	S+5.00%		10.44	%	10/29/2027		997,458		992,643			991,224			0.42
Imagefirst Holdings, LLC (6)(11)	S+5.00%		—		4/27/2028		666,667		(13,752	)		(1,667	)		0.00
Imagefirst Holdings, LLC (11)	S+5.00%		9.57	%	4/27/2028		3,308,375		3,237,765			3,300,104			1.39
Pediatric Associates Holding Company, LLC (11)	S+4.50%		9.94	%	12/29/2028		992,500		957,323			853,550			0.36
PetVet Care Centers, LLC (5)(11)	S+6.00%		11.33	%	11/15/2030		13,525,241		13,264,649			13,262,175			5.60
PetVet Care Centers, LLC (5)(6)(11)	S+6.00%		0.00	%	11/15/2030		1,768,583		(16,726	)		(34,487	)		(0.01	)
PetVet Care Centers, LLC (5)(6)(11)	S+6.00%		0.00	%	11/15/2029		1,768,583		(33,131	)		(34,222	)		(0.01	)
Southern Veterinary Partners, LLC (11)	S+4.00%		9.44	%	10/5/2027		1,488,462		1,481,857			1,487,717			0.63
Team Services Group (11)	S+5.00%		10.58	%	12/20/2027		1,983,467		1,962,214			1,978,508			0.84
Total Health Care Providers & Services								$	29,672,420		$	29,796,284			12.60	%
Health Care Technology
Covetrus, Inc. (11)	S+5.00%		10.31	%	10/13/2029		992,481		985,528			992,898			0.42
Total Media: Broadcasting & Subscription								$	985,528		$	992,898			0.42	%
Hotels, Restaurants & Leisure
Ranger Holdco Spe LLC (5)	15.00% PIK		15.00	%	8/8/2028		18,456,979		17,293,298			19,803,415			8.36
Total Hotels, Restaurants & Leisure								$	17,293,298		$	19,803,415			8.36	%
Household Products
American Greetings Corporation (11)	S+6.00%		11.33	%	4/6/2028		1,477,538		1,454,920			1,478,276			0.62
Kronos Acquisition Holdings Inc. (11)	S+6.00%		11.49	%	12/22/2026		2,602,177		2,569,393			2,605,430			1.10
Wellness Merger Sub, Inc. (11)	S+6.00%		11.57	%	6/30/2026		3,875,000		3,696,022			3,855,625			1.63
Total Household Products								$	7,720,335		$	7,939,331			3.35	%
Insurance
Acrisure, LLC (11)	S+4.50%		9.83	%	11/6/2030		4,967,500		4,884,923			4,979,919			2.10
Amynta Agency Borrower Inc. (11)	S+4.25%		9.55	%	2/28/2028		1,975,062		1,930,807			1,981,244			0.84
RSC Acquisition, Inc. (5)(6)	S+6.00%		11.30	%	11/1/2029		1,996,889		845,662			889,731			0.38
Ryan, LLC (6)	S+4.50%		0.00	%	11/14/2030		190,476		—			835			0.00
Ryan, LLC (6)	S+4.50%		9.83	%	11/14/2030		1,809,524		1,774,724			1,817,450			0.77
Total Insurance								$	9,436,116		$	9,669,179			4.09	%
IT Services
Neptune Bidco US Inc. (11)	S+5.00%		10.42	%	4/11/2029		5,260,250		4,877,448			4,843,007			2.05
Nielsen Consumer Inc. (8)(11)	S+6.25%		11.58	%	3/6/2028		3,970,000		3,585,716			3,941,456			1.66
Physician Partners LLC (11)	S+4.00%		9.53	%	12/26/2028		989,899		942,341			733,763			0.31
TouchTunes Interactive Networks, Inc. (11)	S+5.00%		10.36	%	4/2/2029		2,224,808		2,222,684			2,231,305			0.94
Total IT Services								$	11,628,189		$	11,749,531			4.96	%
Leisure Products
Varsity Brands, Inc. (11)	S+5.00%		10.44	%	12/15/2026		1,977,475		1,896,293			1,984,890			0.84
Total Leisure Products								$	1,896,293		$	1,984,890			0.84	%

The accompanying notes are an integral part of these consolidated financial statements.

8

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

March 31, 2024

(Unaudited)

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost		Fair Value		Percentage of Net Assets
Machinery
Arcline FM Holdings, LLC (11)	S+4.75%		10.32	%	6/23/2028		4,593,839		4,465,530		4,593,839		1.94
DS Parent Inc. (7)	S+5.50%		10.81	%	12/13/2030		3,000,000		2,852,020		2,952,180		1.25
Gloves Buyer, Inc. (5)(11)	S+5.00%		10.44	%	12/29/2027		1,990,000		1,921,991		1,985,025		0.84
Discovery Energy Holding Corp	S+4.75%		10.06	%	1/30/2031		2,800,000		2,716,932		2,802,324		1.18
LSF12 Badger Bidco LLC (11)	S+6.00%		11.33	%	8/30/2030		2,992,500		2,928,897		2,998,126		1.27
Total Machinery								$	14,885,370	$	15,331,494		6.48	%
Metals & Mining
Arsenal AIC Parent LLC (11)	S+4.50%		9.08	%	8/18/2030		2,985,019		2,956,976		2,991,735		1.26
Total Metals & Mining								$	2,956,976	$	2,991,735		1.26	%
Oil, Gas & Consumable Fuels
Limetree Bay Terminals, LLC (5)	S+4.50%/1% PIK		9.81	%	12/11/2026		23,097,426		22,142,576		22,101,927		9.33
Limetree Bay Terminals, LLC (5)	S+6.50%/2% PIK		11.81	%	2/12/2029		10,170,000		9,920,546		9,921,852		4.19
Total Oil, Gas & Consumable Fuels								$	32,063,122	$	32,023,779		13.52	%
Personal Care Products
KDC/one Development Corporation, Inc. (8)(9)(11)	S+5.00%		10.33	%	8/15/2028		4,000,000		3,890,761		4,004,360		1.69
Total Personal Care Products								$	3,890,761	$	4,004,360		1.69	%
Professional Services
GeoStabilization International, LLC (11)	S+5.25%		10.50	%	12/19/2028		2,000,000		1,981,250		1,985,000		0.84
Mckissock Investment Holdings LLC	S+5.00%		10.38	%	3/12/2029		2,500,000		2,440,802		2,504,175		1.06
Sales Performance International, LLC (5)(11)	S+6.50%		11.82	%	8/24/2028		16,778,788		16,464,205		16,464,186		6.95
Sales Performance International, LLC (5)(6)(11)	S+6.50%		11.82	%	8/24/2028		3,030,303		671,686		670,455		0.28
Teneo Holdings LLC	S+ 4.75%		10.08	%	3/13/2031		1,333,333		1,320,000		1,335,000		0.56
Total Professional Services								$	22,877,943	$	22,958,816		9.69	%
Software
AQA Acquisition Holding, Inc. (11)	S+4.25%		9.82	%	3/3/2028		863,720		852,705		863,288		0.36
DTI Holdco, Inc. (11)	S+4.75%		10.06	%	4/26/2029		1,481,203		1,433,158		1,480,744		0.63
Total Software								$	2,285,863	$	2,344,032		0.99	%
Textiles, Apparel & Luxury Goods
Champ Acquisition Corporation (11)	S+5.50%		11.06	%	12/19/2025		1,458,394		1,458,394		1,460,217		0.62
IBG Borrower LLC (5)(11)	S+6.00%		10.06	%	8/22/2029		9,875,000		9,780,465		9,850,313		4.16
Total Textiles, Apparel & Luxury Goods								$	11,238,859	$	11,310,530		4.78	%
Trading Companies & Distributors
DXP Enterprises, Inc. (5)(11)	S+4.75%		10.29	%	10/11/2030		1,990,000		1,961,388		1,988,766		0.84
FCG Acquisitions Inc. (11)	S+4.75%		10.06	%	3/31/2028		1,631,925		1,600,464		1,634,993		0.69
Lincoln Metal Shop, Inc. (5)(11)	S+6.00%		11.46	%	6/7/2027		22,870,461		22,492,634		23,013,402		9.72
Patriot Container Corp. (11)	S+3.75%		9.18	%	3/20/2025		2,965,824		2,842,767		2,868,367		1.21
RelaDyne Inc. (11)	S+4.25%		9.58	%	12/22/2028		1,979,798		1,917,617		1,979,798		0.84
RelaDyne Inc. (11)	S+5.00%		10.33	%	12/22/2028		1,990,000		1,903,281		1,992,488		0.84
Total Trading Companies & Distributors								$	32,718,151	$	33,477,814		14.14	%
Total First and Second Lien Debt								$	382,525,832	$	388,995,716		164.30	%
Total Investments—non-controlled/non- affiliated								$	397,318,141	$	404,711,203		170.94	%
Total Investments Portfolio								$	397,318,141	$	404,711,203		170.94	%

The accompanying notes are an integral part of these consolidated financial statements.

9

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

March 31, 2024

(Unaudited)

Portfolio Company(1)	Amortized Cost		Fair Value			Percentage of Net Assets
Cash Equivalents
State Street Institutional Money Market Fund (10)		81,677,413		81,677,413			34.50
Total Cash Equivalents	$	81,677,413	$	81,677,413			34.50	%
Total Portfolio Investments and Cash Equivalents	$	478,995,554	$	486,388,616			205.44	%
Liabilities in excess of Other Assets			$	(249,616,063	)		(105.44	)%
Net Assets			$	236,772,553			100.00	%

(1)Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.

(2)Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR (“L”), SOFR including SOFR adjustment, if any, (“S”), SONIA (“SN”), or alternate base rate (commonly based on the U.S. Prime Rate (“P”), unless otherwise noted) at the borrower’s option, which reset periodically based on the terms of the credit agreement and S loans are typically indexed to 6 month, 3 month or 1 month L or S rates. As of March 31, 2024, rates for the 6 month, 3 month and 1 month L are 5.65%, 5.56%, and 5.44%, respectively. As of March 31, 2024, 6 month, 3 month and 1 month S are 5.22%, 5.30% and 5.33%, respectively.

(3)The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America U.S. GAAP.

(4)Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.

(5)Investments valued using unobservable inputs (Level 3). Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee, under the supervision of the Board, pursuant to the Company’s valuation policy. See Note 4, Investments and Fair Value Measurements, for details.

(6)Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair values are the result of the commitment being valued below par. See Note 6, Commitments and Contingencies, for details.

(7)Position or portion thereof is unsettled as of March 31, 2024.

(8)The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of March 31, 2024, non-qualifying assets totaled 1.58% of the Company’s total assets.

(9)The issuer of this investment is domiciled in Canada.

(10)The annualized seven-day yield as of March 31, 2024 is 5.01%.

(11)Investment is pledged as collateral for the Secured Credit Facility. See Note 5, Borrowings, for details.

The accompanying notes are an integral part of these consolidated financial statements.

10

Kennedy Lewis Capital Company

Consolidated Schedule of Investments

December 31, 2023

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost			Fair Value		Percentage of Net Assets
Investments—non-controlled/non-affiliated(4)    Equity Investments
Commercial Services & Supplies
KKR Tinder TFC Aggregator L.P. (5)							14,792,309	$	14,792,309		$	15,559,956		7.02
Total Commercial Services & Supplies								$	14,792,309		$	15,559,956		7.02	%
Total Equity Investments								$	14,792,309		$	15,559,956		7.02	%
First and Second Lien Debt Air Freight & Logistics
Inmar, Inc. (12)	S+5.50%		10.86	%	5/1/2026		2,985,000		2,956,521			2,942,702		1.33
LaserShip, Inc. (12)	S+4.50%		10.40	%	5/7/2028		2,008,116		1,805,022			1,839,092		0.83
Total Air Freight & Logistics								$	4,761,543		$	4,781,794		2.16	%
Automobile Components
BBB Industries LLC (12)	S+5.25%		10.71	%	7/25/2029		3,964,962		3,788,124			3,731,189		1.68
First Brands Group, LLC	S+5.00%		10.88	%	3/30/2027		1,989,950		1,935,542			1,971,304		0.89
Total Automobile Components								$	5,723,666		$	5,702,493		2.57	%
Automobiles
Holley Purchaser, Inc.	S+3.75%		9.22	%	11/28/2028		4,392,630		3,943,707			4,224,260		1.91
Total Automobiles								$	3,943,707		$	4,224,260		1.91	%
Biotechnology
Star Parent, Inc. (12)	S+4.00%		9.35	%	9/27/2030		5,000,000		4,927,218			4,935,400		2.23
Total Biotechnology								$	4,927,218		$	4,935,400		2.23	%
Building Products
Oscar AcquisitionCo, LLC (12)	S+4.50%		9.95	%	4/29/2029		1,738,072		1,691,987			1,718,518		0.78
Recess Holdings, Inc. (5)(12)	S+4.00%		9.39	%	3/29/2027		1,995,000		1,976,689			2,004,975		0.90
Total Building Products								$	3,668,676		$	3,723,493		1.68	%
Chemicals
Cyanco Intermediate 2 Corp. (12)	S+4.75%		10.11	%	7/10/2028		2,992,500		2,936,542			2,997,498		1.35
LSF11 A5 Holdco LLC (8)(12)	S+4.25%		9.71	%	10/15/2028		3,980,000		3,917,098			3,986,647		1.80
Windsor Holdings III, LLC (12)	S+4.50%		9.84	%	8/1/2030		1,995,000		1,980,625			2,005,593		0.90
Total Chemicals								$	8,834,265		$	8,989,738		4.05	%
Commercial Services & Supplies
AVSC Holding Corp.	S+3.00%/.25% PIK		8.96	%	3/3/2025		3,971,771		3,866,219			3,881,175		1.75
Brand Industrial Services Inc. (12)	S+5.50%		10.88	%	8/1/2030		1,995,000		1,918,230			1,980,756		0.89
Eagle Parent Corp. (12)	S+4.25%		9.64	%	4/2/2029		2,977,273		2,945,687			2,943,778		1.33
EnergySolutions, LLC (12)	S+4.00%		9.36	%	9/20/2030		997,500		985,417			995,505		0.45
Heritage-Crystal Clean, Inc.	S+5.00%		10.40	%	10/17/2030		1,000,000		975,516			1,000,000		0.45
J-O Building Company LLC (5)(12)	S+6.75%		12.14	%	5/25/2028		13,883,430		13,691,583			13,866,076		6.26
The Action Environmental Group, Inc. (5)	S+4.50%		9.88	%	10/24/2030		869,565		856,763			871,739		0.39
The Action Environmental Group, Inc. (5)(6)	S+4.50%		—		10/24/2030		130,435		(949	)		326		0.00
USA Debusk LLC (5)(12)	S+6.50%		11.96	%	9/8/2026		3,000,000		2,940,662			2,996,250		1.35
USA Debusk LLC (5)(12)	S+6.50%		11.96	%	9/8/2026		9,975,000		9,800,216			9,962,531		4.50
Total Commercial Services & Supplies								$	37,979,344		$	38,498,136		17.37	%

The accompanying notes are an integral part of these consolidated financial statements.

11

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

December 31, 2023

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost			Fair Value			Percentage of Net Assets
Construction & Engineering
MEI Buyer LLC (5)(12)	S+6.50%		11.86	%	6/29/2029		15,183,633		14,751,482			14,752,721			6.66
MEI Buyer LLC (5)(6)(12)	S+6.50%		—		6/29/2029		2,650,602		(23,232	)		(26,952	)		(0.01	)
MEI Buyer LLC (5)(6)(12)	S+6.50%		—		6/29/2029		2,409,639		(33,525	)		(48,313	)		(0.02	)
Total Contruction and Engineering								$	14,694,725		$	14,677,456			6.63	%
Containers, Packaging & Glass
Pretium Packaging, LLC	S+4.60%		9.99	%	10/2/2028		1,860,170		1,656,502			1,444,738			0.65
Pretium Packaging, LLC (12)	S+5.00%		10.39	%	10/2/2028		498,028		485,969			487,136			0.22
Tank Holding Corp. (5)(12)	S+5.75%		11.21	%	3/31/2028		994,950		967,159			950,177			0.43
Tank Holding Corp. (5)(12)	S+6.00%		11.46	%	3/31/2028		3,791,852		3,701,274			3,630,698			1.64
Tank Holding Corp. (5)(6)(12)	S+6.00%		11.46	%	3/31/2028		1,635,981		530,856			480,337			0.22
Total Containers, Packaging & Glass								$	7,341,760		$	6,993,086			3.16	%
Distributors
American Auto Auction Group, LLC (12)	S+5.00%		10.50	%	12/30/2027		1,979,747		1,882,903			1,941,795			0.88
Aramsco, Inc (12)	S+4.75%		10.10	%	10/10/2030		2,554,455		2,504,437			2,549,142			1.15
Aramsco, Inc (6)(12)	S+4.75%		—		10/10/2030		445,545		—			(927	)		0.00
BCPE Empire Holdings, Inc. (12)	S+4.75%		10.11	%	12/11/2028		3,980,000		3,959,431			3,986,965			1.80
PAI Holdco, Inc. (12)	S+3.75%		9.39	%	10/28/2027		1,488,520		1,420,416			1,385,261			0.63
Total Distributors								$	9,767,187		$	9,862,236			4.46	%
Diversified Consumer Services
AMCP Clean Acquisition Company, LLC	S+4.40%		9.79	%	6/16/2025		2,769,264		2,635,484			2,592,142			1.17
Spring Education Group, Inc. (12)	S+4.50%		9.85	%	10/4/2030		4,000,000		3,950,776			4,009,000			1.81
Total Diversified Consumer Services								$	6,586,260		$	6,601,142			2.98	%
Electric Utilities
Cricket Valley Energy Center (5)(7)(12)	S+3.90%		9.25	%	6/30/2025		2,966,340		2,729,032			2,765,074			1.25
Generation Bridge Northeast, LLC (12)	S+4.25%		9.61	%	8/22/2029		2,937,057		2,908,829			2,945,633			1.33
Lackawanna Energy Center LLC (12)	S+5.00%		10.36	%	8/3/2029		4,100,181		3,983,506			4,045,525			1.83
Lackawanna Energy Center LLC (12)	S+5.00%		10.36	%	8/6/2029		889,518		864,204			877,660			0.40
Potomac Energy Center, LLC (5)	S+6.00%		11.61	%	11/12/2026		12,513,956		11,764,326			11,811,458			5.33
St. Joseph Energy Center, LLC (5)(12)	S+4.25%		9.71	%	10/5/2028		2,966,613		2,881,518			2,914,697			1.32
Total Electric Utilities								$	25,131,415		$	25,360,047			11.46	%
Electronic Equipment, Instruments & Components
TGG TS Acquisition Company (12)	S+6.50%		11.97	%	12/14/2025		1,163,697		1,162,703			1,114,240			0.50
Total Electronic Equipment, Instruments & Components								$	1,162,703		$	1,114,240			0.50	%
Energy Equipment & Services
Epic Crude Services, LP (12)	S+5.00%		10.93	%	3/2/2026		4,976,857		4,800,437			4,951,973			2.23
Total Energy Equipment & Services								$	4,800,437		$	4,951,973			2.23	%
Gas Utilities
Parkway Generation, LLC	S+4.75%		10.39	%	2/18/2029		991,093		961,834			951,271			0.43
Total Gas Utilities								$	961,834		$	951,271			0.43	%
Ground Transportation
Carriage Purchaser, Inc. (12)	S+4.25%		9.72	%	10/2/2028		1,489,828		1,464,945			1,459,108			0.66
Odyssey Logistics & Technology Corporation (12)	S+4.50%		9.86	%	10/12/2027		997,500		979,241			987,944			0.45
Total Ground Transportation								$	2,444,186		$	2,447,052			1.11	%

The accompanying notes are an integral part of these consolidated financial statements.

12

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

December 31, 2023

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost			Fair Value			Percentage of Net Assets
Health Care Equipment & Supplies
NMN Holdings III Corp. (5)	S+3.50%		8.97	%	11/13/2025		3,141,804		2,916,393			3,086,823			1.39
Total Health Care Equipment & Supplies								$	2,916,393		$	3,086,823			1.39	%
Health Care Providers & Services
Charlotte Buyer, Inc. (12)	S+5.25%		10.61	%	2/11/2028		2,458,778		2,398,398			2,466,622			1.11
Heartland Dental, LLC (12)	S+5.00%		10.36	%	4/28/2028		2,560,524		2,475,494			2,551,332			1.15
Help At Home, Inc.	S+5.00%		10.46	%	10/29/2027		992,349		979,161			981,810			0.44
Imagefirst Holdings, LLC (12)	S+5.00%		10.72	%	4/27/2028		3,316,667		3,242,402			3,300,083			1.49
Imagefirst Holdings, LLC (6)(12)	S+5.00%		—		4/27/2028		666,667		(14,593	)		(3,333	)		0.00
Pediatric Associates Holding Company, LLC (12)	S+4.50%		9.97	%	12/29/2028		995,000		958,313			960,175			0.43
PetVet Care Centers, LLC (5)(12)	S+6.00%		11.36	%	11/15/2030		13,559,139		13,291,418			13,291,418			6.00
PetVet Care Centers, LLC (5)(6)(12)	S+6.00%		—		11/15/2029		1,768,583		(34,430	)		(34,430	)		(0.02	)
PetVet Care Centers, LLC (5)(6)(12)	S+6.00%		—		11/15/2030		1,768,583		(17,354	)		(17,354	)		(0.01	)
Southern Veterinary Partners, LLC (12)	S+4.00%		9.47	%	10/5/2027		1,492,308		1,485,297			1,485,965			0.67
Team Services Group (12)	S+5.00%		10.88	%	12/20/2027		988,579		971,239			979,316			0.44
Total Health Care Providers & Services								$	25,735,345		$	25,961,604			11.70	%
Health Care Technology
Covetrus, Inc. (12)	S+5.00%		10.35	%	10/13/2029		994,987		987,788			993,127			0.45
Total Health Care Technology								$	987,788		$	993,127			0.45	%
Hotels, Restaurants & Leisure
Fertitta Entertainment, LLC (12)	S+4.00%		9.36	%	1/27/2029		992,424		976,722			992,216			0.45
Ranger Holdco Spe LLC (5)	15.00% PIK		15.00	%	8/8/2028		17,775,581		16,498,048			19,050,076			8.60
Total Hotels, Restaurants & Leisure								$	17,474,770		$	20,042,292			9.05	%
Household Products
American Greetings Corporation (12)	S+6.00%		11.35	%	4/6/2028		1,481,269		1,457,513			1,483,743			0.67
Journey Personal Care Corp. (7)	S+4.25%		9.72	%	3/1/2028		5,006,986		4,649,291			4,927,725			2.22
Kronos Acquisition Holdings Inc. (12)	S+6.00%		11.54	%	12/22/2026		2,608,832		2,573,424			2,610,476			1.18
Staples, Inc.	L+4.50%		9.96	%	9/12/2024		997,389		993,762			996,142			0.45
Staples, Inc. (12)	L+5.00%		10.46	%	4/16/2026		994,792		948,840			939,700			0.42
Wellness Merger Sub, Inc. (12)	S+6.00%		11.61	%	6/30/2026		3,925,000		3,726,426			3,840,769			1.73
Total Household Products								$	14,349,256		$	14,798,555			6.67	%
Independent Power and Renewable Electricity Producers
Invenergy Thermal Operating I LLC (12)	S+4.50%		9.92	%	8/14/2029		2,807,143		2,752,178			2,803,634			1.27
Total Independent Power and Renewable Electricity Producers								$	2,752,178		$	2,803,634			1.27	%
Insurance
Acrisure, LLC (12)	S+4.50%		9.89	%	11/6/2030		4,979,950		4,895,009			4,984,083			2.25
Amynta Agency Borrower Inc. (12)	S+4.25%		9.61	%	2/28/2028		3,980,025		3,872,922			3,979,468			1.80
RSC Acquisition, Inc. (5)	S+6.00%		11.35	%	11/1/2029		250,000		246,576			247,500			0.11
RSC Acquisition, Inc. (5)(6)	S+6.00%		11.39	%	11/1/2029		1,750,000		88,311			93,928			0.04
Ryan, LLC	S+4.50%		9.86	%	11/14/2030		1,809,524		1,773,798			1,813,487			0.82
Ryan, LLC (6)	S+4.50%		—		11/14/2030		190,476		—			417			0.00
Total Insurance								$	10,876,616		$	11,118,883			5.02	%

The accompanying notes are an integral part of these consolidated financial statements.

13

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

December 31, 2023

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost		Fair Value		Percentage of Net Assets
IT Services
Endure Digital Inc. (12)	S+3.50%		9.42	%	2/10/2028		989,848		907,221		966,032		0.44
Neptune Bidco US Inc. (12)	S+5.00%		10.51	%	4/11/2029		5,273,500		4,876,118		4,805,477		2.17
Nielsen Consumer Inc. (8)(12)	S+6.25%		11.61	%	3/6/2028		3,980,000		3,576,958		3,887,465		1.75
Physician Partners LLC (12)	S+4.00%		9.53	%	12/26/2028		992,424		942,802		935,360		0.42
TouchTunes Interactive Networks, Inc. (12)	S+5.00%		10.35	%	4/2/2029		2,230,496		2,228,284		2,208,748		1.00
Total IT Services								$	12,531,383	$	12,803,082		5.78	%
Leisure Products
Varsity Brands, Inc. (12)	S+5.00%		10.47	%	12/15/2026		1,982,481		1,894,763		1,968,445		0.89
Total Leisure Products								$	1,894,763	$	1,968,445		0.89	%
Machinery
Arcline FM Holdings, LLC (12)	S+4.75%		10.36	%	6/23/2028		3,608,118		3,493,046		3,601,371		1.63
Arcline FM Holdings, LLC (5)	S+5.25%		10.86	%	6/23/2028		997,500		977,937		997,500		0.45
Crosby US Acquisition Corp. (8)(12)	S+4.75%		10.21	%	6/26/2026		618,262		605,879		618,522		0.28
DS Parent Inc. (7)	S+5.50%		10.81	%	12/13/2030		3,000,000		2,850,000		2,857,500		1.29
Gloves Buyer, Inc. (5)(12)	S+5.00%		10.47	%	12/29/2027		1,995,000		1,923,179		1,960,088		0.88
LSF12 Badger Bidco LLC (12)	S+6.00%		11.36	%	8/30/2030		3,000,000		2,934,606		2,985,000		1.35
Total Machinery								$	12,784,647	$	13,019,981		5.88	%
Metals & Mining
Arsenal AIC Parent LLC (12)	S+4.50%		9.86	%	8/18/2030		2,992,500		2,963,608		3,000,909		1.35
Total Metals & Mining								$	2,963,608	$	3,000,909		1.35	%
Personal Care Products
KDC/one Development Corporation, Inc. (9)(12)	S+5.00%		10.36	%	8/15/2028		4,000,000		3,885,951		3,954,000		1.78
Total Personal Care Products								$	3,885,951	$	3,954,000		1.78	%
Professional Services
GeoStabilization International, LLC (12)	S+5.25%		10.80	%	12/19/2028		2,000,000		1,980,493		1,985,000		0.90
Mckissock Investment Holdings LLC	S+5.00%		10.38	%	3/12/2029		2,500,000		2,438,535		2,492,700		1.12
Sales Performance International, LLC (5)(12)	S+6.50%		11.88	%	8/24/2028		16,884,848		16,554,921		16,554,921		7.47
Sales Performance International, LLC (5)(6)(12)	S+6.50%		11.69	%	8/24/2028		3,030,303		1,274,596		1,274,596		0.58
Total Professional Services								$	22,248,545	$	22,307,217		10.07	%
Software
AQA Acquisition Holding, Inc. (12)	S+4.25%		9.89	%	3/3/2028		865,941		854,327		863,992		0.39
DTI Holdco, Inc. (12)	S+4.75%		10.13	%	4/26/2029		1,484,962		1,435,033		1,465,346		0.66
Particle Investments S.a.r.l. (8)(10)	L+5.25%		10.72	%	5/24/2027		989,080		983,761		984,135		0.44
Renaissance Holding Corp. (12)	S+4.75%		10.11	%	4/5/2030		4,920,617		4,796,646		4,932,230		2.23
Simon & Schuster Inc.	S+4.00%		9.39	%	10/30/2030		2,000,000		1,987,774		2,005,000		0.90
Ultimate Software Group Inc. (12)	S+4.50%		9.99	%	5/4/2026		1,990,000		1,948,747		1,994,975		0.90
Total Software								$	12,006,288	$	12,245,678		5.52	%
Textiles, Apparel & Luxury Goods
Champ Acquisition Corporation (12)	S+5.50%		11.11	%	12/19/2025		1,481,690		1,481,690		1,485,395		0.67
IBG Borrower LLC (5)(12)	S+6.00%		11.50	%	8/22/2029		9,937,500		9,839,190		9,839,190		4.44
Total Textiles, Apparel & Luxury Goods								$	11,320,880	$	11,324,585		5.11	%

The accompanying notes are an integral part of these consolidated financial statements.

14

Kennedy Lewis Capital Company

Consolidated Schedule of Investments (continued)

December 31, 2023

Portfolio Company(1)	Reference Rate and Spread(2)	Interest Rate(2)			Maturity Date	Par Amount/ Units(3)		Amortized Cost		Fair Value			Percentage of Net Assets
Trading Companies & Distributors
DXP Enterprises, Inc. (5)(12)	S+4.75%		10.29	%	10/11/2030		1,995,000		1,965,563		1,999,988			0.90
FCG Acquisitions Inc. (12)	S+4.75%		10.11	%	3/31/2028		1,636,067		1,602,979		1,631,813			0.74
Lincoln Metal Shop, Inc. (5)(12)	S+6.00%		11.51	%	6/7/2027		23,171,389		22,764,069		23,142,424			10.44
Patriot Container Corp. (12)	S+3.75%		9.21	%	3/20/2025		2,973,712		2,821,296		2,842,988			1.28
RelaDyne Inc. (12)	S+4.25%		9.61	%	12/22/2028		1,984,848		1,919,948		1,973,694			0.89
RelaDyne Inc. (12)	S+5.00%		10.36	%	12/22/2028		1,990,000		1,899,814		1,985,025			0.90
Total Trading Companies & Distributors								$	32,973,669	$	33,575,932			15.15	%
Total First and Second Lien Debt								$	330,431,006	$	336,818,564			151.98	%
Total Investments—non-controlled/non- affiliated								$	345,223,315	$	352,378,520			159.00	%
Total Investments Portfolio								$	345,223,315	$	352,378,520			159.00	%
Cash Equivalents
State Street Institutional Money Market Fund (10)									69,473,744		69,473,744			31.35
Total Cash Equivalents								$	69,473,744	$	69,473,744			31.35	%
Total Portfolio Investments and Cash Equivalents								$	414,697,059	$	421,852,264			190.35	%
Liabilities in excess of Other Assets										$	(200,236,344	)		(90.35	)%
Net Assets										$	221,615,920			100.00	%

(1)Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.

(2)Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. PIK represents payment-in-kind interest that is accrued and recorded as interest income at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR (“L”), SOFR including SOFR adjustment, if any, (“S”), SONIA (“SN”), or alternate base rate (commonly based on the U.S. Prime Rate (“P”), unless otherwise noted) at the borrower’s option, which reset periodically based on the terms of the credit agreement and S loans are typically indexed to 6 month, 3 month or 1 month L or S rates. As of December 31, 2023, rates for the 6 month, 3 month and 1 month L are 5.59%, 5.59%, and 5.47%, respectively. As of December 31, 2023, 6 month, 3 month and 1 month S are 5.16%, 5.33% and 5.35%, respectively.

(3)The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America U.S. GAAP.

(4)Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.

(5)Investments valued using unobservable inputs (Level 3). Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee, under the supervision of the Board, pursuant to the Company’s valuation policy. See Note 4, Investments and Fair Value Measurements, for details.

(6)Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair values are the result of the commitment being valued below par. See Note 6, Commitments and Contingencies, for details.

(7)Position or portion thereof unsettled as of December 31, 2023.

(8)The investment is not a qualifying asset under Section 55(a) of the 1940 Act. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2023, non-qualifying assets totaled 2.17% of the Company’s total assets.

(9)The issuer of this investment is domiciled in Canada.

(10)The issuer of this investment is domiciled in Luxembourg.

(11)The annualized seven-day yield as of December 31, 2023 is 5.07%.

(12)Investment is pledged as collateral for the Secured Credit Facility. See Note 5, Borrowings, for details.

The accompanying notes are an integral part of these consolidated financial statements.

15

Notes to the Consolidated Financial Statements

Note 1. Organization

Organization

Kennedy Lewis Capital Company, (the “Company”), is a Delaware statutory trust structured as an externally managed, diversified closed-end management investment company. The Company has elected to be treated as a business development company (a “BDC”) under the U.S. Investment Company Act of 1940, as amended (the “1940 Act”). In addition, the Company intends to elect to be treated as a regulated investment company (a “RIC”) for U.S. federal income tax purposes under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”).

The Company is externally managed by Kennedy Lewis Capital Holdings LLC (the “Advisor”), a Delaware limited liability company that is registered with the U.S. Securities and Exchange Commission (the “SEC”) as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) pursuant to an investment advisory agreement between the Company and the Advisor (as amended, the “Advisory Agreement”). Kennedy Lewis Management LP (“Kennedy Lewis Management,” and together with Kennedy Lewis Capital Holdings LLC and its affiliates, “Kennedy Lewis”) is registered with the SEC as an investment adviser under the Advisers Act. The Advisor has entered into a resource sharing agreement (“Resource Sharing Agreement”) with Kennedy Lewis Management, pursuant to which Kennedy Lewis Management makes certain personnel and resources available to the Advisor to provide certain investment advisory services to the Company. Kennedy Lewis Management serves as the Company’s administrator (in such capacity, the “Administrator”) pursuant to an administration agreement (the “Administration Agreement”).

The Company has been established to invest primarily in debt or other debt-like securities across the capital structure of middle market companies located in the United States and, selectively, in other North American countries and in Europe, with the ability to consider investments focused on other geographic markets. The Company generally defines middle market companies as those having enterprise values between $300 million and $3 billion. The Company’s investment objectives are to maximize the total return to its holders of common shares of beneficial interest, par value $0.01 (“Common Shares”) (each a “shareholder”) in the form of current income and, to a lesser extent, capital appreciation. The Company employs a strategy to provide capital to middle market companies, with a focus on direct originations in private, first lien, senior secured, performing credits. The Company expects to generate returns primarily from interest income and fees from senior secured loans, with some capital appreciation through nominal equity co-investments.

Subject to the supervision of the Company’s Board of Trustees (the “Board”), a majority of which are trustees who are not “interested persons” as defined in Section 2(a)(19) of the 1940 Act (“Independent Trustees”), the Advisor manages the Company’s day-to-day operations and provides the Company with investment advisory and management services.

Fiscal Year End

The Company was formed on February 10, 2022, and commenced operations on February 1, 2023. Its fiscal year ends on December 31.

16

Note 2. Significant Accounting Policies

Industry Reclassification

During the quarter ended March 31, 2024, the Company changed the investment industry classification from those provided by Moody's to those provided by S&P. The Consolidated Schedule of Investments as of December 31, 2023, as well as the industry composition of investments based on fair value as of December 31, 2023 disclosed in Note 4 - Investments and Fair Value Measurements, have been reclassified to conform to the classifications used to prepare the consolidated financial statements as of and for the period ended March 31, 2024.

Basis of Presentation

The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Company is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies. These consolidated financial statements reflect adjustments that in the opinion of management are necessary for the fair statement of the consolidated financial statements presented herein.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Changes in the economic environment, financial markets, and other metrics used in determining these estimates could cause actual results to differ from the estimates used, and the differences could be material.

Consolidation

In accordance with U.S. GAAP guidance on consolidation, the Company will generally not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company’s wholly-owned subsidiary, KLCC SPV GS1 LLC, in its consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation.

Cash, Cash Equivalents and Restricted Cash

Cash consists of deposits held at a custodian bank. Cash equivalents consists of money market investments with original maturities of three months that are readily convertible to cash and are classified as Level 1 investments. Cash and cash equivalents are held at major financial institutions and, at times, may exceed the insured limits under applicable law. Cash and cash equivalents are carried at cost, which approximates fair value. As of March 31, 2024 and December 31, 2023, we had $56,233,451 and $47,844,154 of restricted cash and cash equivalents related to collateral held for the Secured Credit Facility (as defined below) and presented in the statements of assets and liabilities. This is further discussed in Note 5.

Realized and Unrealized Gains/Losses

Investment transactions and the related revenue and expenses are recorded on a trade-date basis. Realized gains or losses are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the amortized cost basis of the investment using the specific identification method. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period.

17

Interest and Dividend Income

Interest and dividend income is recorded on an accrual basis. Interest income includes the accretion of discounts and amortizations of premiums. The amortized cost of debt investments represents the original cost, including fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income.

Fee Income

In the general course of its business, the Company receives certain fees, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as fee income in investment income when earned.

PIK Income

Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK represents accrued interest that is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest income. Because the Company intends to elect to be treated as a RIC for U.S. federal income purposes under Subchapter M of the Code, this non-cash source of income must be paid out to shareholders in the form of distributions, even though the Company has not yet collected the cash.

Non-Accrual Loans

Loans or debt securities are placed on non-accrual status when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest are paid and, in management’s judgment, principal and interest payments are likely to remain current. The Company may make exceptions to this treatment if a loan has sufficient collateral value and is in the process of collection. As of March 31, 2024 and December 31, 2023, there were no loans placed on non-accrual status.

Deferred Financing Costs

Deferred financing costs represent fees and other direct costs incurred in connection with the Company’s borrowings. These amounts are capitalized and amortized over the contractual term of the borrowing.

Receivable for Investments Sold and Payable for Investments Purchased

Receivable for investments sold and payable for investments purchased represent unsettled investments.

Valuation of Portfolio Investments

In accordance with Rule 2a-5 under the 1940 Act, the Board has designated the Advisor as the Company’s “Valuation Designee”. The Advisor has established a Valuation Committee that is responsible for determining in good faith the fair value of the Company’s investments in instances where there is no readily available market quotation. A readily available market quotation is not expected to exist for most of the investments in the Company’s portfolio, and the Company values these portfolio investments at fair value as determined in good faith by the Valuation Designee on a quarterly basis. Investments for which market quotations are readily available may be priced by independent pricing services. The Company has retained an external, independent valuation firm to provide data and valuation analyses on the Company’s portfolio companies.

The Advisor values the Company’s investments based on the type of financial instrument as outlined below:

18

Securities that are listed on a securities, commodities or futures exchange or market (including such securities when traded in the after‐hours market), will be valued (i) at their last sales prices on the date of determination on the primary exchange on which such securities were traded on such date, or (ii) at their last sales prices on the consolidated tape if such securities on the primary exchange on which such securities were traded on such date were reported on the consolidated tape, or (iii) in the event that the date of determination is not a date upon which an exchange was open for trading, on the date on which such exchange was previously open but not more than 10 days prior to the date of determination.

Securities that are not listed on an exchange but are traded over‐the‐counter will be valued at representative “bid” quotations if held long and representative “asked” quotations if held short, unless included in the NASDAQ National Market System, in which case they will be valued based upon their last sales prices (if such prices are available); provided that if the last sales price of a security does not fall between the last “bid” and “asked” price for such security on such date, the Advisor will value such security at the mean between the last “bid” and “asked” price for such security on such date. Securities not denominated in U.S. dollars will be translated into U.S. dollars at prevailing exchange rates as the Advisor may reasonably determine. All other investments will be assigned such value as the Advisor may reasonably determine. When available, quotations from brokers or pricing services will be considered in the valuation process. For example, the Advisor will utilize indicative prices from brokers or pricing services to determine the fair value of bonds and bank debt and may internally validate the quotes obtained or utilize the mean of the bid (if long) and ask (if short) quotes obtained. For these quotes to be considered for valuation purposes they must be sent directly from the brokers to the Advisor. If quotations are not readily available through pricing services or brokers for a security, financial instrument or other property, the Advisor will determine its value in such a manner as the Advisor, in its sole discretion, reasonably determines. This is generally achieved by engaging a third‐party valuation firm to value such securities and provide a range of values for each position. The Advisor will then mark the position within that range.

The determination of fair value generally considers factors such as comparisons to public companies, comparable transactions, markets in which a company does business, the nature and realizable value of any collateral, discounted cash flows, earnings and ability to make payments, and market yields. If an event such as a purchase, sale, or public offering occurs, the Advisor may consider the pricing indicated by such event to corroborate its internal valuation.

FASB ASC Topic 820: Fair Value Measurements and Disclosures (“ASC 820”) specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level of information used in the valuation.

The Company classifies the inputs used to measure fair values into the following hierarchy:

•Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible to the Company at the measurement date.

•Level 2—Valuations are based on similar assets or liabilities in active markets, or quoted prices identical or similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable.

•Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuation techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The Advisor’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and it considers factors specific to the investment.

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Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Advisor applies the valuation policy approved by the Board that is consistent with ASC 820. Consistent with the valuation policy, the Advisor evaluates the source of inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When a security is valued based on prices provided by reputable dealers or pricing services (that is, broker quotes), the Advisor subjects those prices to various additional criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Advisor reviews pricing provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Some additional factors considered include the number of prices obtained as well as an assessment as to their quality, such as the depth of the relevant market relative to the size of the Company’s position.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material.

In addition, changes in the market environment, including the impact of changes in broader market indices and credit spreads, and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein.

Organization and Offering Costs

Organizational costs to establish the Company are charged to expense as incurred. These expenses consist primarily of legal fees and other costs of organizing the Company.

Offering costs in connection with the offering of Common Shares of the Company are capitalized as a deferred charge and amortized to expense on a straight-line basis over 12 months. Initial offering costs were amortized beginning February 1, 2023, the commencement of operations.

Under the Advisory Agreement and the Administration Agreement, the Company, either directly or through reimbursements to the Advisor or its affiliates, is responsible for its organization and offering costs. For the three months ended March 31, 2024 and March 31, 2023, the Advisor and its affiliates incurred organization and offering costs of $0 and $328,240, respectively, on behalf of the Company. As of March 31, 2024, the total amount owed to the Company from the Advisor pursuant to the Expense Support and Conditional Reimbursement Agreement is included in Due from Advisor in the Statement of Assets and Liabilities.

Income Taxes

The Company intends to elect to be treated as a RIC. So long as the Company maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it timely distributes to its shareholders as dividends. Rather, any tax liability related to income earned and distributed would represent obligations of the Company’s investors and would not be reflected in the consolidated financial statements of the Company.

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The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more likely than not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more likely than not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof. The Company did not record any tax provision in the current period. To qualify for and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must timely distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses.

In addition, based on the excise tax distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of (1) 98% of its ordinary income for the calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in prior years. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed.

Note 3. Related Party Transactions

Administration Agreement

Under the Administration Agreement, the Administrator furnishes the Company with office facilities and equipment and provides the Company with clerical, bookkeeping, recordkeeping and other administrative services at such facilities. The Administrator also performs, or oversees the performance of, the Company’s required administrative services, which include responsibility for the financial and other records that the Company is required to maintain and preparing reports to its shareholders and reports and other materials filed with the SEC. In addition, the Administrator assists the Company in determining and publishing its net asset value, oversees the preparation and filing of its tax returns and the printing and dissemination of reports and other materials to its shareholders, and generally oversees the payment of its expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, the Administrator also provides managerial assistance on the Company’s behalf to those portfolio companies that have accepted the Company’s offer to provide such assistance. The Administrator has retained State Street Bank and Trust Company (“State Street”), a Massachusetts trust company, as a sub-administrator to perform any or all of its obligations under the Administration Agreement.

Payments under the Administration Agreement are equal to an amount based upon the Company’s allocable portion (subject to the review of the Board) of the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and the Company’s allocable portion of the cost of the Company’s Chief Financial Officer and their staff as well as State Street’s fees.

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Advisory Agreement

Subject to the overall supervision of the Board and in accordance with the 1940 Act, the Advisor manages the Company’s day-to-day operations and provides investment advisory services to the Company. Under the terms of the Advisory Agreement, the Advisor:

•determines the composition of the Company’s portfolio, the nature and timing of the changes to its portfolio and the manner of implementing such changes;

•identifies, evaluates and negotiates the structure of the investments the Company makes;

•executes, closes, services and monitors the investments the Company makes;

•determines the securities and other assets that the Company purchases, retains or sells;

•performs due diligence on prospective portfolio companies; and

•provides the Company with such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the investment of its funds.

Under the Advisory Agreement, the Company pays the Advisor fees for investment management services consisting of a base management fee (the “Base Management Fee”) and an incentive fee (the “Incentive Fee”).

Base Management Fee

The Company pays the Advisor a management fee equal to an annual rate of 1.25% of the average of the Company’s net assets, at the end of the two most recently completed quarters. Subsequent to any initial public offering (“IPO”) or other listing of the Common Shares on a national securities exchange (“Exchange Listing”), the Company will pay the Advisor a base management fee calculated at an annual rate of 1.25% of the Company’s average gross assets at the end of the two most recently completed quarters. The management fee is payable quarterly in arrears. For the three months ended March 31, 2024, and March 31, 2023 the management fee was $716,752 and $211,049, respectively. At the Advisor’s discretion, $0 and $128,140 of the management fee was waived during the three months ended March 31, 2024, and March 31, 2023, respectively. For the three months ended March 31, 2024 and March 31, 2023, the management fee, net of waiver was $716,752 and $82,909, respectively.

Incentive Fee

The Incentive Fee consists of two components that are independent of each other, with the result that one component may be payable even if the other is not. A portion of the Incentive Fee is based on a percentage of income and a portion is based on a percentage of capital gains, each as described below.

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Income-Based Incentive Fee. The portion based on the Company’s income is based on Pre-Incentive Fee Net Investment Income Returns. “Pre-Incentive Fee Net Investment Income Returns” means, as the context requires, either the dollar value of, or percentage rate of return on the value of net assets at the end of the immediate preceding quarter from interest income, dividend income and any other income (including any other fees (other than fees for providing managerial assistance), such as commitment, origination, structuring, diligence and consulting fees or other fees that are received from portfolio companies) accrued during the calendar quarter, minus operating expenses accrued for the quarter (including the management fee, expenses payable under the Administration Agreement entered into between the Company and the Administrator, and any interest expense or fees on any credit facilities or outstanding debt and dividends paid on any issued and outstanding preferred shares, but excluding the Incentive Fee and any shareholder servicing and/or distribution fees). Pre-Incentive Fee Net Investment Income Returns include, in the case of investments with a deferred interest feature (such as original issue discount, debt instruments with interest and zero coupon securities), accrued income that has not yet been received in cash. Pre-Incentive Fee Net Investment Income Returns do not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. The impact of expense support payments and recoupments are also excluded from Pre-Incentive Fee Net Investment Income Returns. Pre-Incentive Fee Net Investment Income Returns, expressed as a rate of return on the value of the Company’s net assets at the end of the immediate preceding quarter, is compared to a “hurdle rate” of return of 1.25% per quarter (5.0% annualized).

The Company pays the Advisor an Income Based Incentive Fee quarterly in arrears with respect to the Company’s Pre-Incentive Fee Net Investment Income Returns in each calendar quarter as follows:

•No incentive fee based on Pre-Incentive Fee Net Investment Income Returns in any calendar quarter in which Pre-Incentive Fee Net Investment Income Returns do not exceed the hurdle rate of 1.25% per quarter (5.0% annualized);

•100% of the dollar amount of Pre-Incentive Fee Net Investment Income Returns with respect to that portion of such Pre-Incentive Fee Net Investment Income Returns, if any, that exceeds the hurdle rate until the Advisor has received 12.5% of the total Pre-Incentive Fee Net Investment Income Returns for that calendar quarter. The Company refers to this portion of the Pre-Incentive Fee Net Investment Income Returns (which exceeds the hurdle rate) as the “catch-up.” This “catch-up” is meant to provide the Advisor an Incentive Fee of 12.5% on all Pre-Incentive Fee Net Investment Income Returns when that amount equals 1.43% in a calendar quarter (5.72% annualized), which is the rate at which the catch-up is achieved.

•12.5% of the dollar amount of all Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.43%.

These calculations are prorated for any period of less than three months, including the first quarter the Company commenced operations, and are adjusted for any share issuances or repurchases during the relevant quarter.

For the three months ended March 31, 2024 and March 31, 2023, income-based incentive fees were $692,650 and $0, respectively.

Capital Gains Incentive Fee. The second part of the Incentive Fee is determined and payable in arrears as of the end of each calendar year in an amount equal to 12.5% of cumulative realized capital gains from inception through the end of such calendar, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid Incentive Fee on capital gains as calculated in accordance with U.S. GAAP (the “Capital Gains Incentive Fee”). Subsequent to any IPO or Exchange Listing, the Company will pay the Advisor the Income Incentive Fee and Capital Gains Incentive Fee described above except that all of the 12.5% figures referenced therein will be increased to 15.0%.

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In accordance with GAAP, the Company accrues a hypothetical capital gains incentive fee based upon the cumulative realized capital gains and realized capital losses and the cumulative unrealized capital appreciation and unrealized capital depreciation on investments held at the end of each period. Actual amounts paid to the Advisor are consistent with the Investment Management Agreement and are based only on actual realized capital gains computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis from inception through the end of each calendar year as if the entire portfolio was sold at fair value. For the three months ended March 31, 2024 and March 31, 2023, the Company accrued capital gains incentive fees of $1,122,040 and $0, respectively, of which none was currently payable on such date under the Advisory Agreement.

Co-investment Exemptive Relief

As a BDC, the Company is subject to certain regulatory restrictions in making its investments. For example, BDCs generally are not permitted to co-invest with certain affiliated entities in transactions originated by the BDC or its affiliates in the absence of an exemptive order from the SEC. However, BDCs are permitted to, and may, simultaneously co-invest in transactions where price and quantity are the only negotiated terms. On March 6, 2023, the SEC issued an order (the “Order”) granting the Company’s application for exemptive relief to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Advisor or its affiliates. Under the terms of the Order, in order for the Company to participate in a co-investment transaction, a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s Independent Trustees must conclude that (i) the terms of the proposed transaction, including the consideration to be paid, are reasonable and fair to the Company and its shareholders and do not involve overreaching with respect of the Company or its shareholders on the part of any person concerned, and (ii) the proposed transaction is consistent with the interests of the Company’s shareholders and is consistent with the Company’s investment objectives and strategies and certain criteria established by the Board.

Expense Support and Conditional Reimbursement Agreement

The Company has entered into an expense support and conditional reimbursement agreement (as amended, the “Expense Support Agreement”) with the Advisor, pursuant to which the Advisor has contractually agreed to pay Other Operating Expenses (as defined below) of the Company on the Company’s behalf (each such payment, a “Required Expense Payment” such that Other Operating Expenses of the Company do not exceed 1.00% (on an annualized basis) of the Company’s applicable quarter-end net asset value. “Other Operating Expenses” include the Company’s organizational and offering expenses (including the Company’s allocable portion of compensation and overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement, excluding Base Management Fees and Incentive Fees owed to the Advisor and any interest expenses owed by the Company.

At such times as the Advisor determines, the Advisor may elect to pay certain additional expenses of the Company on the Company’s behalf (each such payment, a “Voluntary Expense Payment” and together with a Required Expense Payment, the “Expense Payments”). In making a Voluntary Expense Payment, the Advisor will designate, as it deems necessary or advisable, what type of expense it is paying (including, whether it is paying organizational or offering expenses).

Following any calendar quarter in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the Company’s shareholders based on distributions declared with respect to record dates occurring in such calendar quarter (the amount of such excess referred to in the Expense Support Agreement as “Excess Operating Funds”), the Company will pay such Excess Operating Funds, or a portion thereof, to the Advisor until such time as all Expense Payments made by the Advisor to the Company within three years prior to the last business day of such calendar quarter have been reimbursed. Any payments required to be made by the Company under the Expense Support Agreement are referred to as a “Reimbursement Payment.” “Available Operating Funds” means the sum of (i) the Company’s net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) the Company’s net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to the Company on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above).

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The amount of the Reimbursement Payment for any calendar quarter will equal the lesser of (i) the Excess Operating Funds in such quarter and (ii) the aggregate amount of all Expense Payments made by the Advisor to the Company within three years prior to the last business day of such calendar quarter that have not been previously reimbursed by the Company to the Advisor; provided that the Advisor may waive its right to receive all or a portion of any Reimbursement Payment in any particular calendar quarter, in which case such waived amount will remain unreimbursed Expense Payments reimbursable in future quarters pursuant to the terms of the Expense Support Agreement.

No Reimbursement Payment for any quarter shall be made if: (1) the Effective Rate of Distributions Per Share (as defined below) declared by the Company at the time of such Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Reimbursement Payment relates, (2) the Company’s Operating Expense Ratio at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Reimbursement Payment relate, or (3) the Company’s Other Operating Expenses at the time of such Reimbursement Payment exceeds 1.00% of the Company’s applicable quarter-end net asset value. The Effective Rate of Distributions Per Share means the annualized rate, based on a 365-day year, of regular cash distributions per share exclusive of returns of capital and declared special dividends or special distributions, if any. The Company’s Operating Expense Ratio is calculated by dividing Operating Expenses (i.e. the Company’s operating costs and expenses incurred, as determined in accordance with generally accepted accounting principles), less organizational and offering expenses, Base Management Fees and Incentive Fees owed to the Advisor, shareholder servicing and/or distribution fees, and interest expense, by the Company’s net assets.

The Company’s obligation to make a Reimbursement Payment will automatically become a liability of the Company on the last business day of the applicable calendar quarter, except to the extent the Advisor has waived its right to receive such payment for the applicable quarter. The Reimbursement Payment for any calendar quarter will be paid by the Company to the Advisor in any combination of cash or other immediately available funds as promptly as possible following such calendar quarter and in no event later than 45 days after the end of such calendar quarter. All Reimbursement Payments shall be deemed to relate to the earliest unreimbursed Expense Payments made by the Advisor to the Company within three years prior to the last business day of the calendar quarter in which such Reimbursement Payments obligation is accrued.

For the three months ended March 31, 2024 and March 31, 2023, the Advisor provided $651,775 and $0 of expense support, respectively.

The Company did not have any obligation to make a Reimbursement Payment as of March 31, 2024 or March 31, 2023 under the Expense Support and Conditional Reimbursement Agreement. The cumulative amount incurred from formation that is subject to future potential reimbursement is $3,547,587.

Either the Company or the Advisor may terminate the Expense Support Agreement at any time, with or without notice, without the payment of any penalty, provided that any Expense Payments that have not been reimbursed by us to the Advisor will remain the obligation of the Company following any such termination, subject to the terms of the Expense Support Agreement.

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Note 4. Investments and Fair Value Measurements

The composition of the Company’s investment portfolio at cost and fair value as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024							December 31, 2023
	Amortized Cost		Fair Value		% of Total Investments at Fair Value			Amortized Cost		Fair Value		% of Total Investments at Fair Value
First lien debt	$	365,232,534	$	369,192,302		91.23	%	$	313,932,958	$	317,768,488		90.18	%
Second lien debt		17,293,298		19,803,414		4.89	%		16,498,048		19,050,076		5.41	%
Equity		14,792,309		15,715,487		3.88	%		14,792,309		15,559,956		4.41	%
Total investments	$	397,318,141	$	404,711,203		100.00	%	$	345,223,315	$	352,378,520		100.00	%

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The industry composition of investments based on fair value as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024			December 31, 2023
Commercial Services & Supplies		13.02	%		15.33	%
Trading Companies & Distributors		8.27			9.52
Electrical Equipment		8.15			—
Oil, Gas & Consumable Fuels		7.91			—
Construction & Engineering		7.57			4.17
Health Care Providers & Services		7.36			7.37
Professional Services		5.67			6.33
Hotels, Restaurants & Leisure		4.89			5.69
Aerospace & Defense		4.84			—
Machinery		3.79			3.69
IT Services		2.90			3.63
Textiles, Apparel & Luxury Goods		2.79			3.21
Building Products		2.52			1.06
Electric Utilities		2.39			7.20
Energy Equipment & Services	—				1.41
Independent Power and Renewable Electricity Producers	—				0.80
Electronic Equipment, Instruments & Components	—				0.32
Insurance		2.39			3.16
Distributors		2.10			2.80
Household Products		1.96			4.20
Chemicals		1.61			2.55
Automobile Components		1.42			1.62
Containers & Packaging		1.34			1.98
Diversified Consumer Services		1.23			1.87
Automobiles	—				1.20
Air Freight & Logistics		1.20			1.36
Personal Care Products		0.99			1.12
Metals & Mining		0.74			0.85
Biotechnology		0.74			1.40
Software		0.58			3.48
Leisure Products		0.49			0.56
Health Care Equipment & Supplies		0.40			0.88
Ground Transportation		0.25			0.69
Health Care Technology		0.25			0.28
Gas Utilities		0.24			0.27
Total		100.00	%		100.00	%

The geographic composition of investments at cost and fair value was as follows:

	March 31, 2024										December 31, 2023
	Amortized Cost		Fair Value		% of Total Investments at Fair Value			Fair Value as % of Net Assets			Amortized Cost		Fair Value		% of Total Investments at Fair Value			Fair Value as % of Net Assets
United States	$	393,427,380	$	400,706,843		99.01	%		169.24	%	$	340,353,603	$	347,440,385		98.60	%		156.78	%
Canada		3,890,761		4,004,360		0.99	%		1.69	%		3,885,951		3,954,000		1.12	%		1.78	%
Luxembourg		—		—		—			—			983,761		984,135		0.28	%		0.44	%
Total	$	397,318,141	$	404,711,203		100.00	%		170.93	%	$	345,223,315	$	352,378,520		100.00	%		159.00	%

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The following table presents the fair value hierarchy of the Company’s investment portfolio as of March 31, 2024 and December 31, 2023:

	March 31, 2024
Assets	Level 1		Level 2		Level 3		Total
First Lien Debt	$	—	$	153,252,802	$	215,939,500	$	369,192,302
Second Lien Debt		—		—		19,803,414		19,803,414
Subtotal	$	—	$	153,252,802	$	235,742,914	$	388,995,716
Investment measured at net asset value(1)								15,715,487
Total investments							$	404,711,203
	December 31, 2023
Assets	Level 1		Level 2		Level 3		Total
First Lien Debt	$	—	$	179,350,279	$	138,418,209	$	317,768,488
Second Lien Debt	—		—			19,050,076		19,050,076
Subtotal	$	—	$	179,350,279	$	157,468,285	$	336,818,564
Investment measured at net asset value(1)								15,559,956
Total investments							$	352,378,520

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The following table presents changes in the fair value of investments for which Level 3 inputs were used to determine the fair value for the three months ended March 31, 2024 and March 31, 2023, respectively:

	First Lien Debt			Second Lien Debt			Total
Balance as of December 31, 2023	$	138,418,209		$	19,050,076		$	157,468,285
Purchases of investments		92,224,386			—			92,224,386
Proceeds from principal pre-payments and sales of investments		(1,505,724	)		—			(1,505,724	)
Payment-in-kind		301,018			681,397			982,415
Net accretion of discount on investments		402,040			113,852			515,892
Net realized gain (loss)		(33,566	)		—			(33,566	)
Net change in unrealized appreciation/(depreciation)		287,980			(41,911	)		246,069
Transfers into Level 3		960,175			—			960,175
Transfers out of Level 3		(15,115,018	)		—			(15,115,018	)
Balance as of March 31, 2024	$	215,939,500		$	19,803,414		$	235,742,914
Net change in unrealized appreciation (depreciation) on Level 3    investments still held at the end of the period	$	287,980		$	(41,911	)	$	246,069
	First Lien Debt			Second Lien Debt			Total
Balance as of February 1, 2023 (commencement of operations)	$	—		$	—		$	—
Purchases of investments		—			—			—
Proceeds from principal pre-payments and sales of investments		—			—			—
Payment-in-kind		—			—			—
Net accretion of discount on investments		—			—			—
Net realized gain (loss)		—			—			—
Net change in unrealized appreciation/(depreciation)		—			—			—
Transfers into Level 3					—			—
Transfers out of Level 3		—			—			—
Balance as of March 31, 2023	$	—		$	—		$	—
Net change in unrealized appreciation (depreciation) on Level 3    investments still held at the end of the period	$	—		$	—		$	—

Level 2 investments are valued using prices obtained from pricing services. The Company had $(14,154,843) and $0 transfers between levels on a net basis during the three months ended March 31, 2024 and the period from February 1, 2023 (commencement of operations) to March 31, 2023, respectively.

The valuation techniques and significant unobservable inputs used in the valuation of Level 3 investments as of March 31, 2024 and December 31, 2023 were as follows:

Investment Type	Fair Value as of March 31, 2024		Valuation Technique	Unobservable Input	Range	Weighted Average (2)
Second Lien Debt	$	19,803,414	Discounted cash flow	Discount rate	15.50%	15.50%
First Lien Debt		191,311,357	Discounted cash flow	Discount rate	10.15% - 15.00%	11.81%
		8,576,621	Market quotations	Broker quoted price	86.00 - 100.50		98.35
		16,051,522	Transactional Value (1)	N/A	N/A	N/A
	$	235,742,914

(1)Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

(2)Unobservable inputs were weighted by the relative fair value of investments.

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Investment Type	Fair Value as of December 31, 2023		Valuation Technique	Unobservable Input	Range	Weighted Average (2)
Second Lien Debt	$	19,050,076	Discounted cash flow	Discount rate	15.50%	15.50%
First Lien Debt		79,221,269	Discounted cash flow	Discount rate	9.86% - 13.44%	10.95%
		18,288,599	Market quotations	Broker quoted price	95.75 - 100.50		98.35
		40,908,341	Transactional Value(1)	N/A	N/A	N/A
	$	157,468,285

(1)Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

(2)Unobservable inputs were weighted by the relative fair value of investments.

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Note 5. Borrowing

On April 20, 2023, KLCC SPV GS1 LLC, a Delaware limited liability company and newly formed subsidiary of the Company, entered into a credit agreement with Goldman Sachs Bank USA (the “Secured Credit Facility”). The maximum principal amount of the Secured Credit Facility as of March 31, 2024 is $300 million, which can be drawn in U.S. dollars subject to certain conditions. The maturity date of the Secured Credit Facility is May 1, 2028.

Amounts drawn under the Secured Credit Facility will bear interest at Term SOFR plus a margin. Advances used to finance the purchase or origination of loans under the Secured Credit Facility initially bear interest at Term SOFR plus a spread of (i) if the percentage of loans that are broadly syndicated loans (“BSL”) is 60% or higher on each day during such interest period, 3.25%, (ii) if the percentage of loans that are BSL is less than 60% during any day during such interest period but higher than 30% on each day during such interest period, 3.35% and (iii) in relation to either (A) any period in the 18 months following the closing of the Secured Credit Facility during which the percentage of loans that are BSL is less than 30% on any day during such interest period or (B) any interest period that occurs more than 18 months following the closing of the Secured Credit Facility, 3.50%. In addition, under the Secured Credit Facility, KLCC SPV GS1 LLC is required to utilize a minimum percentage of the financing commitments (such amount, the “Minimum Utilization Amount”), with unused amounts below such Minimum Utilization Amount accruing a fee (“Minimum Utilization Fee”). On November 14, 2023, the Periods and Target Utilization Percentages set forth in the Minimum Utilization Payment Table in the Secured Credit Facility were amended. Such amendments were not material to the Company’s financial statements. As of March 31, 2024, there were no unused amounts subject to the Minimum Utilization Fee. Additionally, KLCC SPV GS1 LLC is required to pay non-utilization fees (“Non-Utilization Fees”), on an amount equal to the excess (if any) of (x) the Adjusted Maximum Facility Amount in effect on such day over (y) the greater of the Minimum Utilization Amount and the Loan Amount on such day at a rate of 1.00% per annum. Each defined term without definition in this paragraph shall have the meaning ascribed to such term in the Secured Credit Facility.

The Secured Credit Facility contains customary covenants, including certain limitations on the activities of KLCC SPV GS1 LLC, including limitations on incurrence of incremental indebtedness, and customary events of default. The Secured Credit Facility is secured by a perfected first priority security interest in the assets of KLCC SPV GS1 LLC and on any payments received by KLCC SPV GS1 LLC in respect of those assets. Assets pledged to the lenders under the Secured Credit Facility will not be available to pay the other debts of the Company. As of March 31, 2024, the Company was in compliance with all covenants and other requirements under the Secured Credit Facility.

The estimated fair value of the Secured Credit Facility approximated the principal value of $255,000,000 on the consolidated statement of assets and liabilities as of March 31, 2024 and is categorized as Level III under the ASC 820 fair value hierarchy.

Borrowings of KLCC SPV GS1 LLC are considered borrowings of the Company for purposes of complying with the asset coverage requirements under the 1940 Act.

The following table summarizes the average debt outstanding and the interest rates on the Secured Credit Facility for the three months ended March 31, 2024:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Average Debt Outstanding	$	222,112,038		$	—
Effective Interest Rate		9.88	%		—
Weighted Average Interest Rate (1)		8.80	%		—

(1)The calculation of weighted average interest rate does not include minimum utilization fees, non-utilization fees or the amortization of deferred financing costs.

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For the three months ended March 31, 2024, the components of interest expense related to the Secured Credit Facility were as follows:

	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Borrowing interest expense	$	4,872,781	$	—
Minimum utilization fee		261,056		—
Non-utilization fees		166,736		—
Amortization of deferred financing costs		171,595		—
Total interest and debt financing expense	$	5,472,168	$	—

Note 6: Commitments and Contingencies

In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. As of March 31, 2024, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications.

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2024, management is not aware of any pending or threatened material litigation.

The Company may, from time to time, enter into commitments to fund investments. As of March 31, 2024, the Company had the following outstanding commitments to fund investments in current portfolio companies:

	March 31, 2024		December 31, 2023
Unfunded delayed draw term loan commitments	$	12,917,647	$	8,336,031
Unfunded revolver obligations		8,557,078		6,067,963
Total Unfunded	$	21,474,725	$	14,403,994

The Consolidated Schedule of Investments include certain delayed draw and revolving loan facilities with unfunded balances at March 31, 2024 and December 31, 2023, as follows:

Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of March 31, 2024
The Action Environmental Group, Inc.	Delayed Draw Term Loan	10/24/2030		130,435		-
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		744
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(1,667	)
BP Loenbro Holdings Inc	Delayed Draw Term Loan	2/1/2029		1,834,862		(13,310	)
BP Loenbro Holdings Inc	Revolver	2/1/2029		1,834,862		(26,619	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(65,422	)
MEI Buyer LLC	Revolver	6/29/2029		2,650,602		(71,964	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(34,487	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,222	)
Sales Performance International, LLC	Revolver	8/24/2028		2,303,030		(43,067	)
RSC Acquisition, Inc.	Delayed Draw Term Loan	11/1/2029		1,117,143		5,586
Ryan, LLC	Delayed Draw Term Loan	11/14/2030		190,476		835
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		900,548		(14,589	)
Voltagrid LLC	Delayed Draw Term Loan	9/1/2025		3,453,750		(132,451	)
Total Unfunded Balances			$	21,474,725	$	(430,633	)

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Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of December 31, 2023
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		(927	)
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(3,333	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(48,313	)
MEI Buyer LLC	Revolver	6/29/2029		2,602,410		(73,778	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(17,354	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,430	)
RSC Acquisition Inc	Delayed Draw Term Loan	11/1/2029		1,638,571		(16,386	)
Ryan LLC	Delayed Draw Term Loan	11/14/2030		190,476		417
Sales Performance International, LLC	Revolver	8/24/2028		1,696,970		(32,893	)
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		1,086,115		(46,160	)
The Action Environmental Group	Delayed Draw Term Loan	10/24/2030		130,435		326
Total Unfunded Balances			$	14,403,994	$	(272,831	)

Note 7. Net Assets

Subscriptions

The Company is a non-exchange traded, perpetual-life BDC, which is a BDC whose shares are not listed for trading on a stock exchange or other securities market. We offer on a continuous basis our Common Shares (the “Private Offering”), pursuant to the terms set forth in the Company’s Confidential Private Placement Memorandum and subscription agreements that we enter into with investors in connection with the Private Offering (each, a “Subscription Agreement”). Although the Common Shares in the Private Offering are being sold under the exemption provided by Section 4(a)(2) of the Securities Act of 1933 as amended (the “Securities Act”) only to investors that are “accredited investors” in accordance with Rule 506 of Regulation D promulgated under the Securities Act, and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made, there can be no assurance that we will not need to suspend our continuous offering for various reasons, including but not limited to regulatory review from the SEC and various state regulators, to the extent applicable.

The Company seeks to raise equity capital through private placements on a continuous basis through one or more closings (“Closings”) at which the Company will accept funds from investors in connection with such investors’ purchases of Common Shares (the first such Closing the “Initial Closing” and each subsequent closing a “Subsequent Closing”). The Initial Closing occurred on February 1, 2023 (the “Initial Closing Date”). Each Subsequent Closing will generally occur on a monthly basis on the last calendar day of the month or on a date as determined by the Company or the Advisor in its sole discretion. Each investor is required to fully fund its subscription amount by wire to the Company’s bank account on or before the last business day of the month of its respective Closing. Any shareholder that seeks to purchase additional Common Shares will be required to enter into an additional, short form Subscription Agreement with the Company (a “Short Form Subscription Agreement”). For the avoidance of doubt, each shareholder that enters into a Short Form Subscription Agreement will be required to fully fund its additional subscription amount by wire to the Company’s bank account on or before the last business day of the month of its respective Closing. In exchange for its subscription amount, each investor will receive an amount of Common Shares equal to its subscription amount divided by the applicable price per Common Share (“Price Per Common Share”). The Price Per Common Share shall mean the Company’s then-calculated net asset value per Share determined by the Company as of a date within 48 hours of the Closing Date, which will be determined in accordance with the limitations under Section 23 of the 1940 Act. The Company may set the per-Common Share price above the then-calculated net asset value per Common Share based on a variety of factors, including the total amount of the Company’s organizational and other expenses. The minimum investment for any Subscription Agreement and any Short Form Subscription Agreement is $10,000.

For the three months ended March 31, 2023 and March 31, 2024, related parties purchased 326,554 Common Shares of the Company for aggregate proceeds of $6,750,000 and 40,100 Common Shares of the Company for aggregate proceeds of $802,000, respectively.

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The following tables summarizes the total Common Shares issued and proceeds received during the three months ended March 31, 2024 and March 31, 2023, respectively:

Date of Closing	Common Shares Issued		NAV per Common Share		Subscription Price Per Common Share		Proceeds Received
January 1, 2024		94,983	$	20.53	$	20.53	$	1,950,000
February 1, 2024		241,313	$	20.72	$	20.72	$	5,000,000
March 1, 2024		10,206	$	20.87	$	20.87	$	213,000
Totals		346,502					$	7,163,000

Date of Closing	Common Shares Issued		NAV per Common Share		Subscription Price Per Common Share		Proceeds Received
February 1, 2023		4,037,850	$	20.00	$	20.00	$	80,757,000
March 1, 2023		50,251	$	19.80	$	19.90	$	1,000,000
March 31, 2023		6,314,992	$	19.78	$	19.81	$	125,100,000
		10,403,093					$	206,857,000

Repurchases

No investor has the right to require the Company to redeem his, her or its Common Shares. Subject to market conditions and the Advisor’s commercially reasonable judgment, the Company intends from time to time to offer to repurchase Common Shares pursuant to written tenders by shareholders as further described herein. The Advisor expects that, generally, it will cause the Company to offer to repurchase Common Shares from shareholders quarterly, with such repurchases to occur as of each March 31, June 30, September 30 and December 31 or the next business day, as applicable. Subject to market conditions, the Advisor will in its commercially reasonable judgment cause the Company to repurchase Common Shares from shareholders on a quarterly basis in an amount not to exceed 5.0% of the Company’s net asset value; provided, however, that the Advisor, subject to the Board’s discretion and approval, shall cause the Company to repurchase Common Shares from shareholders in an amount at least equal to 10.0% of the Company’s net asset value in respect of the fourth calendar quarter of each of the eighth and tenth calendar years following the Initial Closing Date. The Advisor may in its commercially reasonable judgment seek to provide liquidity to shareholders through one or more methods, including conducting periodic tender offers or winding down the Company.

Prior to any Liquidity Event (as defined below), and subject to market conditions and the Advisor’s commercially reasonable judgment, the Company intends to offer quarterly repurchases, with the first quarterly repurchase offer having commenced on the first business day of the second quarter of 2023. A “Liquidity Event” is defined as including (1) an IPO or Exchange Listing, or (2) a Sale Transaction. A “Sale Transaction” means (a) the sale of all or substantially all of the Company’s assets to, or other liquidity event with, another entity or (b) a transaction or series of transactions, including by way of merger, consolidation, recapitalization, reorganization, or sale of stock in each case for consideration of either cash and/or publicly listed securities of the acquirer. Thereafter, each repurchase offer will generally commence approximately 90 days prior to the applicable quarter-end repurchase date. With respect to any such repurchase offer, investors tendering shares must do so by a date specified in the notice describing the terms of the repurchase offer.

There is no minimum portion of a shareholder’s Common Shares which must be repurchased in any repurchase offer. The Company has no obligation to repurchase Common Shares at any time; any such repurchases will only be made at such times, in such amounts and on such terms as may be determined by the Advisor, in its sole discretion. In determining whether the Company should offer to repurchase Common Shares, the Advisor will consider the timing of such an offer, as well as a variety of operational, business and economic factors.

If a quarterly repurchase offer is oversubscribed by shareholders who tender Common Shares, the Company will repurchase a pro rata portion by value of the Common Shares tendered by each shareholder, extend the repurchase offer, or take any other action with respect to the repurchase offer permitted by applicable law. The Company also has

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the right to repurchase all of a shareholder’s Common Shares at any time if the aggregate value of such shareholder’s Common Shares is, at the time of such compulsory repurchase, less than the required minimum account balance applicable for the Company. In addition, the Company has the right to repurchase Common Shares if the Company determines that the repurchase is in the best interest of the Company or upon the occurrence of certain events specified in the Subscription Agreement.

Repurchases will generally be paid in cash. Any shareholder that submits a repurchase request in excess of $25 million may elect to receive its repurchase proceeds in kind by checking the corresponding box on the tender offer form. The Company will seek to distribute a pro rata slice of the entire portfolio to such shareholder to the extent practicable.

On February 29, 2024, the Company commenced its quarterly tender offer to purchase up to 5.0% of the Company’s Common Shares outstanding as of December 31, 2023 (539,263 Common Shares) that are tendered by Shareholders by 11:59 p.m., Eastern Time, on March 29, 2024 and not withdrawn. No shareholders tendered by the deadline.

Distributions

The Company intends to make quarterly distributions to shareholders. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. Distributions will be made to shareholders at such times and in such amounts as determined by the Board. The Company may pay distributions to its Shareholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Shareholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Shareholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods.

In addition, the Company has adopted a dividend reinvestment plan (“DRP”), pursuant to which each shareholder will receive dividends in the form of additional Common Shares unless they notify the Company that they instead desire to receive cash or a combination of cash and Common Shares as set forth below. If a shareholder receives dividends in the form of Common Shares, dividend proceeds that otherwise would have been distributed in cash will be retained by the Company for reinvestment. Shareholders who receive dividends and other distributions in the form of Common Shares generally are subject to the same U.S. federal tax consequences as investors who elect to receive their distributions in cash; however, since their cash dividends will be reinvested, those investors will not receive cash with which to pay any applicable taxes on re-invested dividends. A shareholder may elect to receive dividends and other distributions in cash or a combination of cash and Common Shares by notifying the Company in the manner set forth in the shareholder’s Subscription Agreement at least 5 business days prior to the dividend or distribution declaration date fixed by the Board for such dividend. If such notice is received by the Company less than 5 business days prior to the relevant dividend or distribution declaration date, then that dividend will be paid in the form of Common Shares and any subsequent dividends will be paid in cash or a combination of cash and Common Shares.

The following table summarizes the distributions paid and Common Shares issued pursuant to the DRP for the three months ended March 31, 2024:

Date Declared	Record Date	Payment Date	Amount Per Share		Distribution Declared		DRP Shares Issued		Value of DRP Shares Issued
March 26, 2024	March 26, 2024	March 28, 2024	$	0.57	$	6,414,447		195,395	$	4,077,919
December 29, 2023	December 31, 2023	January 30, 2024	$	0.04	$	431,411		12,826	$	263,317
November 10, 2023	December 31, 2023	January 30, 2024	$	0.52	$	5,608,339		166,736	$	3,423,081
					$	12,454,197			$	7,764,317

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Of the total distributions paid during the three months ended March 31, 2024, $4,689,880 was distributed in cash, of which $2,353,352 was payable as of December 31, 2023.

There were no distributions declared for the three months ended March 31, 2023.

The Company may fund its cash distributions to shareholders from any source of funds available to the Company, including but not limited to offering proceeds, net investment income from operations, capital gains proceeds from the sale of assets, dividends or other distributions paid to it on account of preferred and common equity investments in portfolio companies and expense support from the Advisor, which is subject to recoupment.

For the three months ended March 31, 2024, a portion of the Company’s distributions resulted from expense support from the Advisor, and future distributions may result from expense support from the Advisor, each of which is subject to repayment by the Company within three years from the date of payment. Shareholders should understand that any such distribution is not based solely on the Company’s investment performance, and can only be sustained if the Company achieves positive investment performance in future periods and/or the Advisor continues to provide expense support. Shareholders should also understand that the Company’s future repayments of expense support will reduce the distributions that they would otherwise receive. There can be no assurance that the Company will achieve the performance necessary to sustain these distributions, or be able to pay distributions at all.

Sources of distributions, other than net investment income and realized gains on a GAAP basis, include required adjustments to GAAP net investment income in the current period to determine taxable income available for distributions. The following table presents the sources of distributions on a GAAP basis that the Company declared on its Common Shares for the three months ended March 31, 2024:

	Per Share		Amount
Net investment income		0.47	$	5,359,196
Net realized gains		0.09		1,046,710
Distributions in excess of net investment income		0.00		8,541
Total		0.56	$	6,414,447

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Note 8. Financial Highlights

The following are financial highlights for the three months ended March 31, 2024 and March 31, 2023, respectively:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Per Share Data:
Net asset value, beginning of period	$	20.55		$	20.00
Results of operations:
Net investment income (loss)(1)		0.47		(0.00)			(3)
Net unrealized and realized gain (loss)(2)		0.13			(0.20	)
Net increase (decrease) in net assets resulting from operations		0.60			(0.20	)
Distribution declared (4)		(0.57	)		—
Total increase (decrease) in net assets		0.03			(0.20	)
Net asset value, end of period	$	20.58		$	19.80
Total return based on NAV (5)		2.92	%		(1.00	)%
Shares outstanding, end of period		11,506,727			10,403,594
Ratios and supplemental data:
Net assets, end of period	$	236,772,553		$	205,997,606
Weighted-average net assets		233,893,490			54,675,485
Weighted-average shares outstanding		11,288,960			2,735,010
Ratio of net expenses to average net assets (6)		13.87	%		9.53	%
Ratio of net expenses before voluntary waivers to average net assets		13.87	%		9.76	%
Ratio of net investment income to average net assets (6)		8.68	%		0.35	%
Portfolio turnover		17.09	%		0.29	%
Asset Coverage Ratio (7)		192.85	%		—

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

(2)The amount shown for a Common Share outstanding does not correspond with the aggregate realized and unrealized gain (loss) on investments for the period due to the timing of capital share transactions of Common Shares in relation to fluctuating market values of investments of the Company.

(3)Rounds to less than (0.01)

(4)Distributions are based on the number of shares outstanding on the date the distribution was declared.

(5)Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period. Total return is not annualized.

(6)Annualized, with the exception of certain non-recurring expenses.

(7)Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period.

Note 9. Subsequent Events

The Company’s management has evaluated subsequent events through the date of issuance of these consolidated financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements other than those disclosed below.

On April 5, 2024, Kennedy Lewis Management accepted a $200,000,000 aggregate capital commitment from California State Teachers' Retirement System into a newly formed feeder fund that will invest substantially all its investible assets in the Company.

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On May 13, 2024, the Board of Trustees declared a distribution of $0.58 per share for the second quarter of 2024, payable on June 26, 2024 to shareholders of record on May 13, 2024.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with the accompanying consolidated financial statements of Kennedy Lewis Capital Company (“we”, “us”, “our” and the “Company”) and the notes thereto and other financial information included elsewhere in this Quarterly Report on Form 10-Q.

Forward Looking Statements

Statements contained in this Form 10-Q (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts are based on current expectations, estimates, projections, opinions and/or beliefs of the Company, its advisor, Kennedy Lewis Capital Holdings LLC (in such capacity, the “Advisor”), a Delaware limited liability company that is registered with the Securities and Exchange Commission (“SEC”) as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), Kennedy Lewis Investment Management LLC and/or its affiliates (collectively, “Kennedy Lewis”). Any such forward-looking statements may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “target,” “goals,” “plan,” “forecast,” “project,” other variations on these words or comparable terminology, or the negative of these words. These forward-looking statements are based on assumptions that may be incorrect, and we cannot assure you that the projections included in these forward-looking statements will come to pass. Our actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including the factors discussed in Item 1A “Risk Factors” section of our registration statement on Form 10 (the “Form 10 Registration Statement”) and elsewhere in this Quarterly Report on Form 10-Q. Other factors that could cause our actual results and financial condition to differ materially include, but are not limited to, changes in political, economic or industry conditions, the interest rate environment or conditions affecting the financial and capital markets, and future changes in laws or regulations and conditions in our operating areas.

We have based the forward-looking statements included in this Quarterly Report on Form 10-Q on information available to us on the date of this Quarterly Report on Form 10-Q, and we assume no obligation to update any such forward-looking statements, unless we are required to do so by applicable law. However, you are advised to consult any additional disclosures that we may make directly to you or through reports that we in the future may file with the SEC.

In addition to factors previously disclosed in our SEC reports, including the factors discussed in the Item 1A “Risk Factors” section of our Form 10 Registration Statement and those identified elsewhere in this report, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance:

•The Company is a new company with limited operating history.

•The Company has elected to be regulated as a business development company (a “BDC”), under the Investment Company Act of 1940, as amended (the “1940 Act”), which imposes numerous restrictions on the activities of the Company, including restrictions on leverage and on the nature of its investments.

•The Company intends to invest primarily in privately-held companies for which very little public information exists. Such companies are also generally more vulnerable to economic downturns and may experience substantial variations in operating results.

•The privately-held companies and below-investment-grade securities in which the Company will invest will be difficult to value and are illiquid.

•Defaults by portfolio companies will harm the Company’s operating results.

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•Investment in the Company is suitable only for sophisticated investors and requires the financial ability and willingness to accept the high risks and lack of liquidity inherent in an investment in the Company.

•An investment in our common shares of beneficial interest (the “Common Shares”) is not suitable for you if you might need access to the money you invest in the foreseeable future.

•If you are unable to sell your Common Shares, you will be unable to reduce your exposure on any market downturn.

•Our Common Shares are not currently listed on an exchange and given that we have no current intention of pursuing any such listing, it is unlikely that a secondary trading market will develop for our Common Shares. The purchase of our Common Shares is intended to be a long-term investment. We do not intend to list our Common Shares on a national securities exchange.

•Our distributions may be funded from unlimited amounts of offering proceeds or borrowings, which may constitute a return of capital (i.e., a distribution funded solely by investors’ subscription amounts) and reduce the amount of capital available to us for investment. Any capital returned to you through distributions will be distributed after payment of fees and expenses.

•The Company is subject to risks associated with the current interest rate environment and to the extent the Company uses debt to finance its investments, changes in interest rates will affect the cost of capital and net investment income.

•The discontinuation of the London Interbank Offered Rate (“LIBOR”) may adversely affect the Company’s business and results of operations.

•The Company depends upon Kennedy Lewis, the Advisor and Kennedy Lewis Management LP (in such capacity, the “Administrator”) for its success and upon their access to investment professionals.

•The Company operates in a highly competitive market for investment opportunities.

•The Company’s debt investments may be risky and could result in the loss of all or part of its investments.

•There is no public market for the Common Shares.

•There are restrictions on holders of the Common Shares.

•There is a risk that investors may not receive distributions.

•The Company is operating in a period of capital markets disruption and economic uncertainty.

•The Company’s regulatory structure and tax status as a BDC and a regulated investment company (a “RIC”) could limit certain of the Company’s investments or negatively affect the Company’s investment returns.

•Future changes in laws or regulations and conditions in the Company’s operating areas could have an adverse impact on the Company.

You should not place undue reliance on these forward-looking statements. The forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligations to update any forward-looking statement to reflect events or circumstances occurring after the date of this Quarterly Report on Form 10-Q.

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Overview

The Company is an externally managed, diversified closed-end management investment company that has elected to be regulated as a BDC under the 1940 Act and intends to elect to be treated for U.S. federal income tax purposes, as a RIC under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company was formed on February 10, 2022 (the “Inception Date”) as a Delaware statutory trust. The Company commenced operations on February 1, 2023.

The Company is externally managed by the Advisor. The Advisor oversees the management of the Company’s activities and is responsible for making investment decisions with respect to the Company’s portfolio.

The Company’s investment objectives are to maximize the total return to its shareholders in the form of current income and, to a lesser extent, capital appreciation. The Company employs a strategy to provide capital to middle market companies, with a focus on direct originations in private, first lien, senior secured, performing credits.

Financial and Operating Highlights

At March 31, 2024
Investment Portfolio	$	404,711,203
Net assets	$	236,772,553
Debt	$	255,000,000
Net asset value per share	$	20.58
At March 31, 2023
Investment Portfolio	$	93,651,260
Net assets	$	205,997,606
Debt	$	—
Net asset value per share	$	19.80

Portfolio Activity for the Three Months Ended March 31, 2024
Purchases during the period	$	113,795,687
Sales and principal repayments during the period	$	64,945,786
Net investments during the period	$	48,849,901
Number of portfolio companies at end of period		81
Weighted average contractual interest rate of investment commitments based on par		11.00	%
Portfolio Activity for the Three Months Ended March 31, 2023
Purchases during the period	$	118,966,883
Sales and principal repayments during the period	$	24,482,869
Net investments during the period	$	94,484,014
Number of portfolio companies at end of period		50
Weighted average contractual interest rate of investment commitments based on par		9.42	%

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Portfolio and Investment Activity

As of March 31, 2024 and March 31, 2023, our investments consisted of the following:

	March 31, 2024 Fair Value		Percentage of Total Investments at Fair Value			March 31, 2023 Fair Value		Percentage of Total Investments at Fair Value
First Lien	$	369,192,302		91.23	%	$	93,651,260		100.00	%
Second Lien		19,803,414		4.89	%		—		—
Equity		15,715,487		3.88	%		—		—
Total	$	404,711,203		100.00	%	$	93,651,260		100.00	%

As of the three months ended March 31, 2024 and March 31, 2023, all investments were considered to be income-producing investments.

RESULTS OF OPERATIONS

Our operating results for the three months ended March 31, 2024 and March 31, 2023, were as follows:

	For the Three Months Ended March 31, 2024		For the Three Months Ended March 31, 2023
Total investment income	$	13,112,606	$	982,483
Less: Net expenses		7,753,410		994,198
Net investment income (loss)		5,359,196		(11,715	)
Net realized gains (losses)		1,046,710		113,400
Net change in unrealized appreciation (depreciation)		237,857		(971,079	)
Net increase (decrease) in net assets resulting from operations	$	6,643,763	$	(869,394	)
Net investment income (loss) per share	$	0.47	$	(0.00	)	(1)
Net increase (decrease) in net assets resulting from operations per share	$	0.58	$	(0.08	)

Investment Income

The composition of our investment income for three months ended March 31, 2024 and March 31, 2023 were as follows:

	For the Three Months Ended March 31, 2024		For the Three Months Ended March 31, 2023
Interest income	$	12,589,528	$	905,441
Dividend income		467,467		—
Fee income		55,611		77,042
Total investment income	$	13,112,606	$	982,483

(1) Less than (0.01)

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Operating Expenses

The composition of our operating expenses for the three months ended March 31, 2024 and March 31, 2023 were as follows:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Interest and debt fee expense	$	5,300,574		$	—
Management fees		716,752			211,049
Income incentive fee		692,650			—
Capital gain incentive fees		141,129			—
Professional fees		600,151			412,744
Amortization of continuous offering costs		299,856			90,647
Administrative services expense		266,874			134,425
Deferred financing expense		171,594			—
Directors’ fees and expenses		100,000			66,667
Organization costs		—			185,534
Other expenses		115,605			21,272
Total expenses		8,405,185			1,122,338
Expense waiver		(651,775	)		—
Management fee waiver		—			(128,140	)
Net expenses	$	7,753,410		$	994,198

Net Realized Gains (Losses) and Net Change in Unrealized Gains (Losses) on Investments

Net realized gains (losses) and net change in unrealized gains (losses) on investments for the three months ended March 31, 2024 and March 31, 2023 were as follows.

	For the Three Months Ended March 31, 2024		For the Three Months Ended March 31, 2023
Net realized gains (losses)	$	1,046,710	$	113,400
Net change in unrealized gains (losses) on investments		237,857		(971,079	)
Net realized and unrealized gains (losses)	$	1,284,567	$	(857,679	)

Liquidity and Capital Resources

We generate cash from (1) private placements, at which we will accept funds from investors in connection with such investors’ purchases of Common Shares, (2) cash flows from investments and operations, and (3) borrowings from banks or other lenders. Subject to prevailing market conditions, we intend to grow our portfolio of assets by raising additional capital, including through the prudent use of leverage available to us.

Our primary uses of cash are for (1) investments in portfolio companies and other investments to comply with certain portfolio diversification requirements, (2) the cost of operations (including paying the Advisor and the Administrator), (3) debt service of any borrowings and (4) cash distributions to the Company’s shareholders.

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Borrowings

We use borrowed funds, known as “leverage,” to make investments and to attempt to increase returns to our shareholders by reducing our overall cost of capital. As a BDC, we are limited in the amount of leverage we can incur under the 1940 Act. We are only allowed to borrow amounts such that our asset coverage, as defined in the 1940 Act, equals at least 150% after such borrowing. As of March 31, 2024, we had $255 million par value of outstanding borrowings and our asset coverage ratio of total assets to total borrowings was 192.85%, compliant with the minimum asset coverage level of 150% generally required for a BDC by the 1940 Act.

We expect to maintain adequate liquidity and compliance with regulatory and contractual asset coverage requirements.

Sale of Unregistered Securities

The following tables shows the issuances of Common Shares, which were made pursuant to Subscription Agreements entered into with participating investors during the three months ended March 31, 2024 and March 31, 2023:

Date of Issuance	Common Shares Issued		Subscription Price per Common Share		Aggregate Consideration
January 1, 2024		94,983		20.53		1,950,000
February 1, 2024		241,313		20.72		5,000,000
March 1, 2024		10,206		20.87		213,000
		346,502			$	7,163,000
February 1, 2023		4,037,850		20.00		80,757,000
March 1, 2023		50,251		19.90		1,000,000
March 31, 2023		6,314,992		19.81		125,100,000
		10,403,093			$	206,857,000

Distributions

Distributions to shareholders are recorded on the record date. The amount to be distributed, if any, is determined by the Board each quarter, and is generally based upon the earnings estimated by the Advisor. The Company intends to distribute net capital gains (i.e., net long-term capital gains in excess of net short-term capital losses), if any, at least annually out of the assets legally available for such distributions. However, the Company may decide in the future to retain such capital gains for investment, incur a corporate-level tax on such capital gains, and elect to treat such capital gains as deemed distributions to shareholders.

In addition, we have adopted a dividend reinvestment plan, pursuant to which each shareholder will receive dividends in the form of additional Common Shares unless they notify the Company that they instead desire to receive cash or a combination of cash and Common Shares as set forth below. If a shareholder receives dividends in the form of Common Shares, dividend proceeds that otherwise would have been distributed in cash will be retained by the Company for reinvestment. Shareholders who receive dividends and other distributions in the form of Common Shares generally are subject to the same U.S. federal tax consequences as investors who elect to receive their distributions in cash; however, since their cash dividends will be reinvested, those investors will not receive cash with which to pay any applicable taxes on re-invested dividends. A shareholder may elect to receive dividends and other distributions in cash or a combination of cash and Common Shares by notifying the Company in the manner set forth in the shareholder’s Subscription Agreement at least 5 business days prior to the dividend or distribution declaration date fixed by the Board for such dividend. If such notice is received by the Company less than 5 business days prior to the relevant dividend or distribution declaration date, then that dividend will be paid in the form of Common Shares and any subsequent dividends will be paid in cash or a combination of cash and Common Shares.

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On March 26, 2024, we declared a distribution of $0.57 per share, paid on March 28, 2024 to shareholders of record as of March 26, 2024.

Taxation as a RIC

We intend to elect to be treated as a RIC under Subchapter M of the Code. As a RIC, we generally will not be subject to corporate-level U.S. federal income taxes on any net ordinary taxable income or capital gains that we distribute as dividends for U.S. federal income tax purposes to our shareholders. To qualify as a RIC, we must, among other things, meet certain source-of-income and asset diversification requirements. In addition, in order to maintain RIC tax treatment, we must timely distribute to our shareholders, for each tax year, an amount equal to at least 90% of our “investment company taxable income,” which includes, among other items, dividends, interest and the excess of any net short-term capital gains over net long-term capital losses and other taxable income other than any net capital gain reduced by deductible expenses.

Additionally, in order to avoid the imposition of a U.S. federal excise tax, we are required to distribute, in respect of each calendar year, dividends to our shareholders of an amount at least equal to the sum of 98% of our calendar year net ordinary income (not taking into account any capital gains or losses); 98.2% of our capital gain in excess of its capital losses (adjusted for certain ordinary losses) for a one-year period generally ending on October 31 of the calendar year; and any undistributed amounts from previous years on which we paid no U.S. federal income tax. If we fail to qualify as a RIC for any reason and become subject to corporate tax, the resulting corporate taxes could substantially reduce our net assets, the amount of income available for distribution and the amount of our distributions.

Related Party Transactions and Agreements

Administration Agreement

Kennedy Lewis Management LP serves as our administrator pursuant to an administration agreement (the “Administration Agreement”). Under the Administration Agreement, the Administrator furnishes the Company with office facilities and equipment and provides the Company with clerical, bookkeeping, recordkeeping and other administrative services at such facilities. The Administrator also performs, or oversees the performance of, the Company’s required administrative services, which include being responsible for the financial and other records that the Company is required to maintain and preparing reports to its shareholders and reports and other materials filed with the SEC. In addition, the Administrator assists the Company in determining and publishing its net asset value, oversees the preparation and filing of its tax returns and the printing and dissemination of reports and other materials to its shareholders, and generally oversees the payment of its expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, the Administrator also provides managerial assistance on the Company’s behalf to those portfolio companies that have accepted the Company’s offer to provide such assistance. The Administrator has retained State Street Bank and Trust Company, a Massachusetts trust company, as a sub-administrator to perform any or all of its obligations under the Administration Agreement.

Payments under the Administration Agreement are equal to an amount based upon the Company’s allocable portion (subject to the review of the Board) of the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and the Company’s allocable portion of the cost of the Company’s Chief Financial Officer and Chief Compliance Officer and his or her staff.

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Advisory Agreement

Subject to the overall supervision of the Board and in accordance with the 1940 Act, the Advisor manages the Company’s day-to-day operations and provides investment advisory services to the Company, pursuant to an investment advisory agreement (as amended, the “Advisory Agreement”). Under the terms of the Advisory Agreement, the Advisor (i) determines the composition of the Company’s portfolio, the nature and timing of the changes to its portfolio and the manner of implementing such changes; (ii) identifies, evaluates and negotiates the structure of the investments the Company makes; (iii) executes, closes, services and monitors the investments the Company makes; (iv) determines the securities and other assets that the Company purchases, retains or sells; (v) performs due diligence on prospective portfolio companies; and (vi) provides the Company with such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the investment of its funds. Under the Advisory Agreement, the Company pays the Advisor fees for investment management services consisting of the Base Management Fee and the Incentive Fee. See Note 3 to the consolidated financial statements—“Related Party Transactions” for additional information.

For the three months ended March 31, 2024 and March 31, 2023, the management fee was $716,752 and $211,049, respectively. At the Advisor’s discretion, $0 and $128,140 of the management fee was waived during the three months ended March 31, 2024 and March 31, 2023, respectively. For the three months ended March 31, 2024 and March 31, 2023, the management fee, net of waivers was $716,752 and $82,909, respectively. For the three months ended March 31, 2024 and March 31, 2023, income-based incentive fees was $692,650 and $0, respectively. For the three months ended March 31, 2024 and March 31, 2023, the Company accrued capital gains incentive fees of $1,122,040 and $0, respectively, of which none was payable on such date under the Advisory Agreement.

Co-Investment Exemptive Relief

As a BDC, the Company is subject to certain regulatory restrictions in making its investments. For example, BDCs generally are not permitted to co-invest with certain affiliated entities in transactions originated by the BDC or its affiliates in the absence of an exemptive order from the SEC. However, BDCs are permitted to, and may, simultaneously co-invest in transactions where price and quantity are the only negotiated terms. On March 6, 2023, the SEC issued an order (the “Order”) granting the Company’s application for exemptive relief to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Advisor or its affiliates. Under the terms of the Order, in order for the Company to participate in a co-investment transaction, a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s independent trustees must conclude that (i) the terms of the proposed transaction, including the consideration to be paid, are reasonable and fair to the Company and its shareholders and do not involve overreaching with respect of the Company or its shareholders on the part of any person concerned, and (ii) the proposed transaction is consistent with the interests of the Company’s shareholders and is consistent with the Company’s investment objectives and strategies and certain criteria established by the Board.

Expense Support and Conditional Reimbursement Agreement

The Company has entered into an Expense Support Agreement with the Advisor, pursuant to which the Advisor has contractually agreed to pay Other Operating Expenses (as defined below) of the Company on the Company’s behalf (each such payment, a “Required Expense Payment” such that Other Operating Expenses of the Company do not exceed 1.00% (on an annualized basis) of the Company’s applicable quarter-end net asset value. “Other Operating Expenses” include the Company’s organizational and offering expenses (including the Company’s allocable portion of compensation and overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement, excluding Base Management Fees and Incentive Fees owed to the Advisor and any interest expenses owed by the Company. See Note 3 to the consolidated financial statements—“Related Party Transactions” for additional information.

As of March 31, 2024, the total expense support provided by the Advisor since inception was $3,547,587.

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Contractual Obligations

Other than payment of fees under the Advisory Agreement and Administration Agreement noted in the “Related Party Transactions and Agreements” section, we had no payment obligations for repayment of debt and other contractual obligations as of March 31, 2024. For additional information on the fees under the Advisory Agreement and Administration Agreement, see Note 3—“Related Party Transactions.”

Off-Balance Sheet Arrangements

From time-to-time we are a party to financial instruments with off-balance sheet risk in the normal course of business in order to meet the needs of our investment in portfolio companies. Such instruments include commitments to extend credit and may involve, in varying degrees, elements of credit risk in excess of amounts recognized on our balance sheet. Prior to extending such credit, we attempt to limit our credit risk by conducting extensive due diligence, obtaining collateral where necessary and negotiating appropriate financial covenants. As of March 31, 2024 and March 31, 2023, we had $12,917,647 and $500,000 in unfunded delayed draw term loan commitments and $8,557,078 and $0 in unfunded revolver commitments, respectively.

Commitments

In the ordinary course of business, we may enter into future funding commitments. We maintain sufficient financial resources to satisfy any unfunded commitments, including cash on hand and available borrowings to fund such unfunded commitments. Please refer to Note 6 in the notes to our consolidated financial statements—“Commitments and Contingencies” for further detail of these unfunded commitments.

Recent Developments

We have evaluated recent developments through the date of issuance of these consolidated financial statements and determined that there are no recent developments outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements.

Significant Accounting Estimates and Critical Accounting Policies

The Company’s consolidated financial statements have been prepared in accordance with U.S. GAAP. The Company is an investment company and accordingly follows the investment company accounting and reporting guidance of the FASB ASC Topic 946, Financial Services – Investment Companies. These consolidated financial statements reflect adjustments that in the opinion of management are necessary for the fair statement of the financial position and results of operations for the periods presented herein.

While our significant accounting policies are also described in Note 2 of the notes to our consolidated financial statements—“Significant Accounting Policies”, we believe the following accounting policies require the most significant judgment in the preparation of our consolidated financial statements.

Valuation of Portfolio Investments

In accordance with Rule 2a-5 under the 1940 Act, the Board has designated the Advisor as the Company’s “Valuation Designee”. The Advisor has established a Valuation Committee that is responsible for determining in good faith the fair value of the Company’s investments in instances where there is no readily available market quotation. A readily available market quotation is not expected to exist for most of the investments in the Company’s portfolio, and the Company values these portfolio investments at fair value as determined in good faith by the Valuation Designee. Investments for which market quotations are readily available may be priced by independent pricing services. The Company has retained an external, independent valuation firm to provide data and valuation analyses on the Company’s portfolio companies.

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The Advisor values the Company’s investments based on the type of financial instrument as outlined below:

Securities that are listed on a securities, commodities or futures exchange or market (including such securities when traded in the after‐hours market), will be valued (i) at their last sales prices on the date of determination on the primary exchange on which such securities were traded on such date, or (ii) at their last sales prices on the consolidated tape if such securities on the primary exchange on which such securities were traded on such date were reported on the consolidated tape, or (iii) in the event that the date of determination is not a date upon which an exchange was open for trading, on the date on which such exchange was previously open but not more than 10 days prior to the date of determination.

Securities that are not listed on an exchange but are traded over‐the‐counter will be valued at representative “bid” quotations if held long and representative “asked” quotations if held short, unless included in the NASDAQ National Market System, in which case they will be valued based upon their last sales prices (if such prices are available); provided that if the last sales price of a security does not fall between the last “bid” and “asked” price for such security on such date, the Advisor will value such security at the mean between the last “bid” and “asked” price for such security on such date. Securities not denominated in U.S. dollars will be translated into U.S. dollars at prevailing exchange rates as the Advisor may reasonably determine. All other investments will be assigned such value as the Advisor may reasonably determine. When available, quotations from brokers or pricing services will be considered in the valuation process. For example, the Advisor will utilize indicative prices from brokers or pricing services to determine the fair value of bonds and bank debt and may internally validate the quotes obtained or utilize the mean of the bid (if long) and ask (if short) quotes obtained. For these quotes to be considered for valuation purposes they must be sent directly from the brokers to the Advisor. If quotations are not readily available through pricing services or brokers for a security, financial instrument or other property, the Advisor will determine its value in such manner as the Advisor, in its sole discretion, reasonably determines. This is generally achieved by engaging a third‐party valuation firm to value such securities and provide a range of values for each position. The Advisor will then mark the position within that range.

The determination of fair value generally considers factors such as comparisons to public companies, comparable transactions, markets in which a company does business, the nature and realizable value of any collateral, discounted cash flows, earnings and ability to make payments, and market yields. If an event such as a purchase, sale, or public offering occurs, the Advisor may consider the pricing indicated by such event to corroborate its internal valuation.

FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level of information used in the valuation.

The Company classifies the inputs used to measure fair values into the following hierarchy:

•Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible to the Company at the measurement date.

•Level 2—Valuations are based on similar assets or liabilities in active markets, or quoted prices identical or similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable.

•Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuation techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation.

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In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The Advisor’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and it considers factors specific to the investment.

Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Advisor applies the valuation policy approved by the Board that is consistent with ASC 820. Consistent with the valuation policy, the Advisor evaluates the source of inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When a security is valued based on prices provided by reputable dealers or pricing services (that is, broker quotes), the Advisor subjects those prices to various additional criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Advisor reviews pricing provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Some additional factors considered include the number of prices obtained as well as an assessment as to their quality, such as the depth of the relevant market relative to the size of the Company’s position.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material.

In addition, changes in the market environment, including the impact of changes in broader market indices and credit spreads, and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein.

Investment Related Transactions, Revenue Recognition and Expenses

Investment transactions and the related revenue and expenses are recorded on a trade-date basis. Realized gains or losses are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the cost basis of the investment using the specific identification method. Unrealized appreciation or depreciation reflects the difference between the fair value of the investments and the cost basis of the investments. Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations of premiums. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income.

In the general course of its business, the Company receives certain fees from portfolio companies, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as other income in investment income when earned.

Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK represents accrued interest that is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest income. Because the Company intends to elect to be treated as a RIC for U.S. federal income purposes under Subchapter M of the Code, therefore, this non-cash source of income must be paid out to shareholders in the form of distributions, even though the Company has not yet collected the cash.

Receivable for investments sold and payable for investments purchased represent unsettled investments.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are subject to certain financial market risks, such as interest rate fluctuations. Because we fund a portion of our investments with borrowings, our net investment income is affected by the difference between the rate at which we invest and the rate at which we borrow. As a result, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income. The U.S. Federal Reserve and other central banks have raised interest rates multiple times in recent years. As a result, key base interest rates, such as SOFR and LIBOR, may fluctuate over time. As of March 31, 2024, 86.39% of investments at fair value represent floating-rate investments.

The following table estimates the potential changes in net cash flow generated from interest income and expenses, should interest rates increase or decrease by 100, 200 or 300 basis points. Assuming that the interim and unaudited Statement of Assets and Liabilities as of March 31, 2024 were to remain constant and that we took no actions to alter our interest rate sensitivity as of such date, the following table shows the annualized impact of hypothetical base rate changes in interest rates. Actual results could differ significantly from those estimated in the table.

Change in Interest Rates	Increase (Decrease) in Investment Income			Increase (Decrease) in Investment Expense			Increase (Decrease) in Net Investment Income
Up 300 basis points	$	10,567,952		$	7,650,000		$	2,917,952
Up 200 basis points		7,045,301			5,100,000			1,945,301
Up 100 basis points		3,522,651			2,550,000			972,651
Down 100 basis points		(3,522,651	)		(2,550,000	)		(972,651	)
Down 200 basis points		(7,045,301	)		(5,100,000	)		(1,945,301	)
Down 300 basis points		(10,567,952	)		(7,650,000	)		(2,917,952	)

Because we may borrow money to make investments, our net investment income may be dependent on the difference between the rate at which we borrow funds and the rate at which we invest these funds. In periods of increasing interest rates, our cost of funds would increase, which may reduce our net investment income. As a result, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures

As required by Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended (the “1934 Act”) we evaluated, under the supervision and with the participation of our management, including our President and our Chief Financial Officer, the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the 1934 Act) as of March 31, 2024. Based on the foregoing evaluation, our President and our Chief Financial Officer concluded that, as of March 31, 2024, our disclosure controls and procedures were effective to accomplish their objectives at the reasonable assurance level that we would meet our disclosure obligations. Notwithstanding the foregoing, a control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that it will detect or uncover failures within the Company to disclose material information otherwise required to be set forth in the Company’s periodic reports.

Changes in internal control over financial reporting

There have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) or 15d-15(f) under the 1934 Act) that occurred during our most recently completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II—OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2024, management is not aware of any pending or threatened material litigation.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this report, you should carefully consider the factors discussed in the Item 1A “Risk Factors” section of our Form 10 Registration Statement, which could materially affect our business, financial condition and/or operating results. The risks described in our Form 10 Registration Statement are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results.

There have been no material changes during the three months ended March 31, 2024 to the risk factors previously disclosed in the Item 1A “Risk Factors” section of our Form 10 Registration Statement and in our quarterly report on Form 10-Q for the quarter ended June 30, 2023. If any of such risks actually occur, our business, financial condition or results of operations could be materially adversely affected. If that happens, the value of our securities could decline, and you may lose all or part of your investment.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Previously disclosed by the Company on its current reports on Form 8-K.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

During the fiscal quarter ended March 31, 2024, none of our trustees or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

51

ITEM 6. EXHIBITS

The following exhibits are filed as part of this report, or hereby incorporated by reference to exhibits previously filed with the United States Securities and Exchange Commission:

Exhibit Number	Description of Document
31.1*	Certification of the President pursuant to Rule 13a-14 (a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*	Certification of the Chief Financial Officer pursuant to Rule 13a-14 (a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*	Certification of the President pursuant to 18 U.S. C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes- Oxley Act of 2002.
32.2*	Certification of the Chief Financial Officer pursuant to 18 U.S. C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
101.INS	Inline XBRL Instance Document-the instance document does not appear in the Interactive Data File as its XBRL tags are embedded within the Inline XBRL document
101.SCH	Inline XBRL Taxonomy Extension Schema with Embedded Linkbase Documents
104	Cover page formatted as Inline XBRL and contained in Exhibit 101

* Filed herewith.

52

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Kennedy Lewis Capital Company
Date: May 14, 2024	By:	/s/ James Didden
	Name:	James Didden
	Title:	President
Date: May 14, 2024	By:	/s/ Anthony Pasqua
	Name:	Anthony Pasqua
	Title:	Chief Financial Officer

53

EX-31.1

Exhibit 31.1

CERTIFICATION OF PRESIDENT

I, James Didden, President of Kennedy Lewis Capital Company, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Kennedy Lewis Capital Company;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the consolidated financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 14, 2024

/s/ James Didden

James Didden

President

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Anthony Pasqua, Chief Financial Officer of Kennedy Lewis Capital Company, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Kennedy Lewis Capital Company;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the consolidated financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 14, 2024

/s/ Anthony Pasqua

Anthony Pasqua

Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF PRESIDENT

PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report on Form 10-Q of Kennedy Lewis Capital Company (the “Company”) for the period ended March 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, James Didden, President of the Company, hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 14, 2024
	/s/ James Didden
	James Didden
	President

EX-32.2

Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report on Form 10-Q of Kennedy Lewis Capital Company (the “Company”) for the period ended March 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Anthony Pasqua, Chief Financial Officer of the Company, hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 14, 2024
	/s/ Anthony Pasqua
	Anthony Pasqua
	Chief Financial Officer

XML

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	814-01603
Entity Registrant Name	Kennedy Lewis Capital Co
Entity Central Index Key	0001911321
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-6117755
Entity Address, Address Line One	225 Liberty St.
Entity Address, Address Line Two	Suite 4210
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10281
City Area Code	212
Local Phone Number	782-3842
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,552,764

XML

Consolidated Statements of Assets and Liabilities - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Investments at fair value
Non-controlled/non-affiliated investments (cost of $397,318,141 and $345,223,315 at March 31, 2024 and December 31, 2023, respectively)	$ 404,711,203	$ 352,378,520
Cash and cash equivalents	30,922,871	25,181,139
Restricted cash and cash equivalents	56,233,451	47,844,154
Interest and fee receivable from non-controlled/non-affiliated investments	3,577,091	3,241,015
Deferred financing costs (net of $652,437 and $480,842 in amortized expense at March 31, 2024 and December 31, 2023, respectively)	2,792,655	2,964,249
Deferred offering costs (net of $1,150,921 and $851,065 in amortized expense at March 31, 2024 and December 31, 2023, respectively)	502,875	565,386
Receivable for investments sold	2,991,485	4,150,568
Due from Advisor	$ 649,205	$ 810,355
Accounts Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Advisor [Member]	Advisor [Member]
Other assets	$ 109,687	$ 45,157
Total assets	502,490,523	437,180,543
Liabilities
Credit Facility (Note 5)	255,000,000	195,000,000
Payable for investments purchased	2,716,000	7,489,135
Distribution payable	0	6,039,749
Interest and credit facility fees payable	3,744,778	3,051,780
Accrued capital gains incentive fee payable	1,122,040	1,090,162
Management fees payable	717,106	690,008
Income incentive fee payable	688,500	652,362
Due to Advisor and affiliates	$ 266,874	$ 309,817
Other Liability, Related Party, Type [Extensible Enumeration]	Advisor [Member]	Advisor [Member]
Offering costs payable	$ 212,873	$ 216,950
Accrued expenses and other liabilities	1,249,799	1,024,660
Total liabilities	265,717,970	215,564,623
Commitments and contingencies (Note 6)
Net Assets
Common shares, $0.01 par value (11,506,727 and 10,785,268 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively)	115,067	107,853
Additional paid in capital	229,282,882	213,932,059
Distributable earnings (loss)	7,374,604	7,576,008
Total net assets	236,772,553	221,615,920
Total liabilities and net assets	$ 502,490,523	$ 437,180,543
Net asset value per share	$ 20.58	$ 20.55

XML

Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Assets
Investments cost	$ 397,318,141	$ 345,223,315
Deferred financing costs, net amortized expenses	652,437	480,842
Deferred offering costs, net amortized expenses	$ 1,150,921	$ 851,065
Net Assets
Common share, par value (in dollars per share)	$ 0.01	$ 0.01
Common share, shares issued (in shares)	11,506,727	10,785,268
Common share, shares outstanding (in shares)	11,506,727	10,785,268
Non-controlled/Non-affiliated Investments [Member]
Assets
Investments cost	$ 397,318,141	$ 345,223,315

XML

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
From non-controlled/non-affiliated investments:
Interest income	$ 12,589,528	$ 905,441
Dividend income	467,467	0
Fee income	55,611	77,042
Total investment income	13,112,606	982,483
Expenses:
Interest and debt fee expense	5,300,574	0
Management fees	716,752	211,049
Income incentive fee	692,650	0
Capital gains incentive fee	141,129	0
Professional fees	600,151	412,744
Amortization of continuous offering costs	299,856	90,647
Administrative service expenses	266,874	134,425
Amortization of deferred financing costs	171,594	0
Directors' fees and expenses	100,000	66,667
Organization costs	0	185,534
Other expenses	115,605	21,272
Total expenses	8,405,185	1,122,338
Expenses waived by the Advisor (Note 3)	(651,775)	0
Management fee waiver	0	(128,140)
Net expenses	7,753,410	994,198
Net investment income	5,359,196	(11,715)
Net change in unrealized appreciation (depreciation):
Net change in unrealized appreciation (depreciation)	237,857	(971,079)
Realized gain (loss):
Net realized gain (loss)	1,046,710	113,400
Net realized and unrealized gain (loss)	1,284,567	(857,679)
Net increase (decrease) in net assets resulting from operations	6,643,763	(869,394)
Non-controlled/Non-affiliated Investments [Member]
Net change in unrealized appreciation (depreciation):
Net change in unrealized appreciation (depreciation)	237,857	(971,079)
Realized gain (loss):
Net realized gain (loss)	$ 1,046,710	$ 113,400

XML

Consolidated Statements of Changes in Net Assets - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operations:
Net investment income	$ 5,359,196	$ (11,715)
Net realized gain (loss)	1,046,710	113,400
Net change in unrealized appreciation (depreciation)	237,857	(971,079)
Net increase (decrease) in net assets resulting from operations	6,643,763	(869,394)
Capital transactions
Proceeds from shares sold	7,163,000	206,857,000
Distribution of earnings	(6,414,447)	0
Reinvestments of distributions	7,764,317	0
Net increase (decrease) from share transactions	8,512,870	206,857,000
Total increase (decrease) in net assets	15,156,633	205,987,606
Net Assets, beginning of period	221,615,920	10,000
Net Assets, end of period	$ 236,772,553	$ 205,997,606
Capital Share activity:
Share sold (in shares)	346,502	10,403,093
Shares issues from the reinvestment of dividends (in shares)	374,957	0
Net increase in share outstanding (in shares)	721,459	10,403,093

XML

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$ 6,643,763	$ (869,394)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Net change unrealized (appreciation) depreciation on investments	(237,857)	971,079
Net realized (gain) loss on investments	(1,046,710)	(113,400)
Payment-in-kind interest capitalized	(997,974)	(646)
Net accretion of discount and amortization of premium	(1,200,240)	(24,279)
Amortization of deferred financing costs	171,594	0
Amortization of offering costs	299,856	90,647
Purchases of investments	(113,795,687)	(118,966,883)
Proceeds from sale of investments and principal repayments	64,945,786	24,482,869
Changes in operating assets and liabilities:
Interest receivable	(336,076)	(479,925)
Deferred offering costs	(241,422)	(142,706)
Receivable for investments sold	1,159,083	(17,701,185)
Due from Advisor	161,150	0
Other assets	(64,530)	(44,922)
Payable for investments purchased	(4,773,135)	64,982,555
Due to Advisor and affiliates	(42,943)	217,977
Management fee payable	27,098	82,909
Administrative service expense payable	0	32,485
Income incentive fee payable	36,138	0
Capital gains incentive fee payable	31,878	0
Interest and credit facility fees payable	692,998	0
Accrued expenses and other liabilities	225,139	757,809
Net cash provided by (used in) operating activities	(48,342,091)	(46,725,010)
Cash flows from financing activities:
Proceeds from Secured Credit Facility	60,000,000	0
Dividends paid in cash	(4,689,880)	0
Proceeds from issuance of common shares	7,163,000	81,857,000
Net cash provided by (used in) financing activities	62,473,120	81,857,000
Net increase (decrease) in cash and cash equivalents	14,131,029	35,131,990
Cash, cash equivalents and restricted cash, beginning of period	73,025,293	10,000
Cash, cash equivalents and restricted cash, end of period	87,156,322	35,141,990
Supplemental information and non-cash activities:
Subscription receivable	0	125,000,000
Cash paid for interest	4,607,576	0
Reinvestment of distributions	$ 7,764,317	$ 0

XML

Consolidated Schedule of Investments - USD ($)		3 Months Ended		12 Months Ended
		Mar. 31, 2024		Dec. 31, 2023
Investments [Abstract]
Amortized Cost		$ 397,318,141		$ 345,223,315
Fair Value		$ 404,711,203		$ 352,378,520
Percentage of investment portfolio		170.93%		159.00%
Net Assets		$ 236,772,553		$ 221,615,920
Investment, Identifier [Axis]: ADMI Corp First and Second Lien Debt SOFR Spread 5.75% Interest Rate 11.08% Due 12/23/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		ADMI Corp [Member]
Interest Rate	[1],[2]	11.08%
Maturity Date	[2]	Dec. 23, 2027
Par Amount/ Units	[2],[3]	$ 1,995,000
Amortized Cost	[2]	1,995,000
Fair Value	[2]	$ 1,995,000
Percentage of investment portfolio	[2]	0.84%
Basis spread on variable rate	[1],[2]	5.75%
Investment, Identifier [Axis]: AMCP Clean Acquisition Company, LLC First and Second Lien Debt SOFR Spread 4.40% Interest Rate 9.79% Due 6/16/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				AMCP Clean Acquisition Company LLC [Member]
Interest Rate	[4],[5],[6]			9.79%
Maturity Date	[5],[6]			Jun. 16, 2025
Par Amount/ Units	[5],[6],[7]			$ 2,769,264
Amortized Cost	[5],[6]			2,635,484
Fair Value	[5],[6]			$ 2,592,142
Percentage of investment portfolio	[5],[6]			1.17%
Basis spread on variable rate	[4],[5],[6]			4.40%
Investment, Identifier [Axis]: AMCP Clean Acquisition Company, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 6/15/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		AMCP Clean Acquisition Company LLC [Member]
Interest Rate	[1],[2],[8],[9]	10.33%
Maturity Date	[2],[8],[9]	Jun. 15, 2028
Par Amount/ Units	[2],[3],[8],[9]	$ 1,000,000
Amortized Cost	[2],[8],[9]	985,206
Fair Value	[2],[8],[9]	$ 990,000
Percentage of investment portfolio	[2],[8],[9]	0.42%
Basis spread on variable rate	[1],[8]	5.00%
Investment, Identifier [Axis]: AQA Acquisition Holding, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.82% Due 3/3/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		AQA Acquisition Holding Inc Member
Interest Rate	[2],[9],[10]	9.82%
Maturity Date	[2],[9],[10]	Mar. 03, 2028
Par Amount/ Units	[2],[9],[10]	$ 863,720
Amortized Cost	[2],[9],[10]	852,705
Fair Value	[2],[9],[10]	$ 863,288
Percentage of investment portfolio	[2],[9],[10]	0.36%
Basis spread on variable rate	[2],[9],[10]	4.25%
Investment, Identifier [Axis]: AQA Acquisition Holding, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.89% Due 3/3/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				AQA Acquisition Holding Inc Member
Interest Rate	[4],[5],[6],[11]			9.89%
Maturity Date	[5],[6],[11]			Mar. 03, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 865,941
Amortized Cost	[5],[6],[11]			854,327
Fair Value	[5],[6],[11]			$ 863,992
Percentage of investment portfolio	[5],[6],[11]			0.39%
Basis spread on variable rate	[4],[5],[6],[11]			4.25%
Investment, Identifier [Axis]: AVSC Holding Corp. First and Second Lien Debt SOFR Spread 3.00%/.25% PIK Interest Rate 8.95% Due 3/3/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		AVSC Holding Corp Member
Interest Rate	[1],[2]	8.93%
Maturity Date	[2]	Mar. 03, 2025
Par Amount/ Units	[2],[3]	$ 3,963,800
Amortized Cost	[2]	3,879,806
Fair Value	[2]	$ 3,966,535
Percentage of investment portfolio	[2]	1.68%
Basis spread on variable rate	[1],[2]	3.00%
Reference rate, PIK	[1],[2]	0.25%
Investment, Identifier [Axis]: AVSC Holding Corp. First and Second Lien Debt SOFR Spread 3.00%/.25% PIK Interest Rate 8.96% Due 3/3/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				AVSC Holding Corp Member
Interest Rate	[4],[5],[6]			8.96%
Maturity Date	[5],[6]			Mar. 03, 2025
Par Amount/ Units	[5],[6],[7]			$ 3,971,771
Amortized Cost	[5],[6]			3,866,219
Fair Value	[5],[6]			$ 3,881,175
Percentage of investment portfolio	[5],[6]			1.75%
Basis spread on variable rate	[4],[5],[6]			3.00%
Reference rate, PIK	[4],[5],[6]			0.25%
Investment, Identifier [Axis]: Acrisure, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.83% Due 11/6/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Acrisure LLC Member
Interest Rate	[1],[2],[10]	9.83%
Maturity Date	[2],[10]	Nov. 06, 2030
Par Amount/ Units	[2],[3],[10]	$ 4,967,500
Amortized Cost	[2],[10]	4,884,923
Fair Value	[2],[10]	$ 4,979,919
Percentage of investment portfolio	[2],[10]	2.10%
Basis spread on variable rate	[1],[2],[10]	4.50%
Investment, Identifier [Axis]: Acrisure, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.89% Due 11/6/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Acrisure LLC Member
Interest Rate	[4],[5],[6],[11]			9.89%
Maturity Date	[5],[6],[11]			Nov. 06, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 4,979,950
Amortized Cost	[5],[6],[11]			4,895,009
Fair Value	[5],[6],[11]			$ 4,984,083
Percentage of investment portfolio	[5],[6],[11]			2.25%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: Aerospace & Defense First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Aerospace and Defense [Member]
Amortized Cost	[2],[9]	$ 19,682,935
Fair Value	[2],[9]	$ 19,572,115
Percentage of investment portfolio	[2],[9]	8.27%
Investment, Identifier [Axis]: Air Freight & Logistics First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Air Freight and Logistics [Member]		Air Freight and Logistics [Member]
Amortized Cost		$ 4,761,365	[2],[9]	$ 4,761,543	[5],[6]
Fair Value		$ 4,837,594	[2],[9]	$ 4,781,794	[5],[6]
Percentage of investment portfolio		2.05%	[2],[9]	2.16%	[5],[6]
Investment, Identifier [Axis]: American Auto Auction Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.46% Due 12/30/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		American Auto Auction Group LLC Member
Interest Rate	[1],[2],[9],[10]	10.46%
Maturity Date	[2],[9],[10]	Dec. 30, 2027
Par Amount/ Units	[2],[3],[9],[10]	$ 1,974,697
Amortized Cost	[2],[9],[10]	1,882,961
Fair Value	[2],[9],[10]	$ 1,957,418
Percentage of investment portfolio	[2],[9],[10]	0.83%
Basis spread on variable rate	[1],[10]	5.00%
Investment, Identifier [Axis]: American Auto Auction Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.50% Due 12/30/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				American Auto Auction Group LLC Member
Interest Rate	[4],[5],[6],[11]			10.50%
Maturity Date	[5],[6],[11]			Dec. 30, 2027
Par Amount/ Units	[5],[6],[7],[11]			$ 1,979,747
Amortized Cost	[5],[6],[11]			1,882,903
Fair Value	[5],[6],[11]			$ 1,941,795
Percentage of investment portfolio	[5],[6],[11]			0.88%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: American Greetings Corporation First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 4/6/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		American Greetings Corporation Member
Interest Rate	[1],[2],[10]	11.33%
Maturity Date	[2],[10]	Apr. 06, 2028
Par Amount/ Units	[2],[3],[10]	$ 1,477,538
Amortized Cost	[2],[10]	1,454,920
Fair Value	[2],[10]	$ 1,478,276
Percentage of investment portfolio	[2],[10]	0.62%
Basis spread on variable rate	[1],[2],[10]	6.00%
Investment, Identifier [Axis]: American Greetings Corporation First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.35% Due 4/06/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				American Greetings Corporation Member
Interest Rate	[4],[5],[6],[11]			11.35%
Maturity Date	[5],[6],[11]			Apr. 06, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 1,481,269
Amortized Cost	[5],[6],[11]			1,457,513
Fair Value	[5],[6],[11]			$ 1,483,743
Percentage of investment portfolio	[5],[6],[11]			0.67%
Basis spread on variable rate	[4],[5],[6],[11]			6.00%
Investment, Identifier [Axis]: Amynta Agency Borrower Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.55% Due 2/28/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Amynta Agency Borrower Inc Member
Interest Rate	[1],[2],[10]	9.55%
Maturity Date	[2],[10]	Feb. 28, 2028
Par Amount/ Units	[2],[3],[10]	$ 1,975,062
Amortized Cost	[2],[10]	1,930,807
Fair Value	[2],[10]	$ 1,981,244
Percentage of investment portfolio	[2],[10]	0.84%
Basis spread on variable rate	[1],[2],[10]	4.25%
Investment, Identifier [Axis]: Amynta Agency Borrower Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.61% Due 2/28/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Amynta Agency Borrower Inc Member
Interest Rate	[4],[5],[6],[11]			9.61%
Maturity Date	[5],[6],[11]			Feb. 28, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 3,980,025
Amortized Cost	[5],[6],[11]			3,872,922
Fair Value	[5],[6],[11]			$ 3,979,468
Percentage of investment portfolio	[5],[6],[11]			1.80%
Basis spread on variable rate	[4],[5],[6],[11]			4.25%
Investment, Identifier [Axis]: Aramsco, Inc. First and Second Lien Debt SOFR Spread 4.75% Due 10/10/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Aramsco Inc [Member]		Aramsco Inc [Member]
Maturity Date		Oct. 10, 2030	[2],[9],[10],[12]	Oct. 10, 2030	[5],[6],[11],[13]
Par Amount/ Units		$ 445,545	[2],[3],[9],[10],[12]	$ 445,545	[5],[6],[7],[11],[13]
Fair Value		$ 744	[2],[9],[10],[12]	$ (927)	[5],[6],[11],[13]
Percentage of investment portfolio		0.00%	[2],[9],[10],[12]	0.00%	[5],[6],[11],[13]
Basis spread on variable rate		4.75%	[1],[10]	4.75%	[4],[5],[6],[11],[13]
Investment, Identifier [Axis]: Aramsco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.10% Due 10/10/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Aramsco Inc [Member]		Aramsco Inc [Member]
Interest Rate		10.06%	[1],[2],[9],[10]	10.10%	[4],[5],[6],[11]
Maturity Date		Oct. 10, 2030	[2],[9],[10]	Oct. 10, 2030	[5],[6],[11]
Par Amount/ Units		$ 2,554,455	[2],[3],[9],[10]	$ 2,554,455	[5],[6],[7],[11]
Amortized Cost		2,505,721	[2],[9],[10]	2,504,437	[5],[6],[11]
Fair Value		$ 2,558,721	[2],[9],[10]	$ 2,549,142	[5],[6],[11]
Percentage of investment portfolio		1.08%	[2],[9],[10]	1.15%	[5],[6],[11]
Basis spread on variable rate		4.75%	[1],[10],[12]	4.75%	[4],[5],[6],[11]
Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.32% Due 6/23/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Arcline FM Holdings LLC Member
Interest Rate	[2],[9],[10]	10.32%
Maturity Date	[2],[9],[10]	Jun. 23, 2028
Par Amount/ Units	[2],[9],[10]	$ 4,593,839
Amortized Cost	[2],[9],[10]	4,465,530
Fair Value	[2],[9],[10]	$ 4,593,839
Percentage of investment portfolio	[2],[9],[10]	1.94%
Basis spread on variable rate	[2],[9],[10]	4.75%
Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.36% Due 6/23/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Arcline FM Holdings LLC Member
Interest Rate	[4],[5],[6],[11]			10.36%
Maturity Date	[5],[6],[11]			Jun. 23, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 3,608,118
Amortized Cost	[5],[6],[11]			3,493,046
Fair Value	[5],[6],[11]			$ 3,601,371
Percentage of investment portfolio	[5],[6],[11]			1.63%
Basis spread on variable rate	[4],[5],[6],[11]			4.75%
Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.86% Due 6/23/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Arcline FM Holdings LLC Member
Interest Rate	[4],[5],[6],[14]			10.86%
Maturity Date	[5],[6],[14]			Jun. 23, 2028
Par Amount/ Units	[5],[6],[7],[14]			$ 997,500
Amortized Cost	[5],[6],[14]			977,937
Fair Value	[5],[6],[14]			$ 997,500
Percentage of investment portfolio	[5],[6],[14]			0.45%
Basis spread on variable rate	[4],[5],[6],[14]			5.25%
Investment, Identifier [Axis]: Arsenal AIC Parent LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.08% Due 8/30/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Arsenal AIC Parent LLC Member
Interest Rate	[2],[9],[10]	9.08%
Maturity Date	[2],[9],[10]	Aug. 18, 2030
Par Amount/ Units	[2],[9],[10]	$ 2,985,019
Amortized Cost	[2],[9],[10]	2,956,976
Fair Value	[2],[9],[10]	$ 2,991,735
Percentage of investment portfolio	[2],[9],[10]	1.26%
Basis spread on variable rate	[2],[9],[10]	4.50%
Investment, Identifier [Axis]: Arsenal AIC Parent LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.86% Due 8/18/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Arsenal AIC Parent LLC Member
Interest Rate	[4],[5],[6],[11]			9.86%
Maturity Date	[5],[6],[11]			Aug. 18, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 2,992,500
Amortized Cost	[5],[6],[11]			2,963,608
Fair Value	[5],[6],[11]			$ 3,000,909
Percentage of investment portfolio	[5],[6],[11]			1.35%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: Automobile Components First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Automobile Components [Member]		Automobile Components [Member]
Amortized Cost		$ 5,712,406	[2],[9]	$ 5,723,666	[5],[6]
Fair Value		$ 5,750,721	[2],[9]	$ 5,702,493	[5],[6]
Percentage of investment portfolio		2.43%	[2],[9]	2.57%	[5],[6]
Investment, Identifier [Axis]: Automobiles First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Automobile [Member]
Amortized Cost	[5],[6]			$ 3,943,707
Fair Value	[5],[6]			$ 4,224,260
Percentage of investment portfolio	[5],[6]			1.91%
Investment, Identifier [Axis]: BBB Industries LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.68% Due 7/25/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		BBB Industries LLC Member
Interest Rate	[1],[2],[9],[10]	10.68%
Maturity Date	[2],[9],[10]	Jul. 25, 2029
Par Amount/ Units	[2],[3],[9],[10]	$ 3,954,950
Amortized Cost	[2],[9],[10]	3,784,359
Fair Value	[2],[9],[10]	$ 3,766,259
Percentage of investment portfolio	[2],[9],[10]	1.59%
Basis spread on variable rate	[1],[2],[9],[10]	5.25%
Investment, Identifier [Axis]: BBB Industries LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.71% Due 7/25/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				BBB Industries LLC Member
Interest Rate	[4],[5],[6],[11]			10.71%
Maturity Date	[5],[6],[11]			Jul. 25, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 3,964,962
Amortized Cost	[5],[6],[11]			3,788,124
Fair Value	[5],[6],[11]			$ 3,731,189
Percentage of investment portfolio	[5],[6],[11]			1.68%
Basis spread on variable rate	[4],[5],[6],[11]			5.25%
Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.11% Due 12/11/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				BCPE Empire Holdings Inc Member
Interest Rate	[4],[5],[6],[11]			10.11%
Maturity Date	[5],[6],[11]			Dec. 11, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 3,980,000
Amortized Cost	[5],[6],[11]			3,959,431
Fair Value	[5],[6],[11]			$ 3,986,965
Percentage of investment portfolio	[5],[6],[11]			1.80%
Basis spread on variable rate	[4],[5],[6],[11]			4.75%
Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.33% Due 12/11/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		BCPE Empire Holdings Inc Member
Interest Rate	[1],[2],[9],[10]	9.33%
Maturity Date	[2],[9],[10]	Dec. 11, 2028
Par Amount/ Units	[2],[3],[9],[10]	$ 3,980,000
Amortized Cost	[2],[9],[10]	3,960,265
Fair Value	[2],[9],[10]	$ 3,981,751
Percentage of investment portfolio	[2],[9],[10]	1.68%
Basis spread on variable rate	[1],[10]	4.75%
Investment, Identifier [Axis]: BP Loenbro Holdings Inc First and Second Lien Debt Due 2/1/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		BP Loenbro Holdings Inc [Member]
Maturity Date	[2],[8],[9]	Feb. 01, 2029
Par Amount/ Units	[2],[3],[8],[9]	$ 1,834,862
Amortized Cost	[2],[8],[9]	13,310
Fair Value	[2],[8],[9]	$ (13,310)
Percentage of investment portfolio	[2],[8],[9]	(0.01%)
Basis spread on variable rate	[1],[8]	6.25%
Investment, Identifier [Axis]: BP Loenbro Holdings Inc First and Second Lien Debt Due 2/1/2029 One
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		BP Loenbro Holdings Inc [Member]
Maturity Date	[2],[8],[9]	Feb. 01, 2029
Par Amount/ Units	[2],[3],[8],[9]	$ 1,834,862
Amortized Cost	[2],[8],[9]	26,619
Fair Value	[2],[8],[9]	$ (26,619)
Percentage of investment portfolio	[2],[8],[9]	(0.01%)
Basis spread on variable rate	[1],[8]	6.25%
Investment, Identifier [Axis]: BP Loenbro Holdings Inc First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.57% Due 2/1/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		BP Loenbro Holdings Inc [Member]
Interest Rate	[1],[2],[8],[9]	11.57%
Maturity Date	[2],[8],[9]	Feb. 01, 2029
Par Amount/ Units	[2],[3],[8],[9]	$ 16,330,275
Amortized Cost	[2],[8],[9]	16,091,451
Fair Value	[2],[8],[9]	$ 16,091,451
Percentage of investment portfolio	[2],[8],[9]	6.80%
Basis spread on variable rate	[1],[8]	6.25%
Investment, Identifier [Axis]: Biotechnology First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Biotechnology [Member]		Biotechnology [Member]
Amortized Cost		$ 2,957,499	[2],[9]	$ 4,927,218	[5],[6]
Fair Value		$ 2,980,140	[2],[9]	$ 4,935,400	[5],[6]
Percentage of investment portfolio		1.26%	[2],[9]	2.23%	[5],[6]
Investment, Identifier [Axis]: Brand Industrial Services Inc First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.81% Due 8/1/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Brand Industrial Services Inc Member
Interest Rate	[1],[2],[10]	10.81%
Maturity Date	[2],[10]	Aug. 01, 2030
Par Amount/ Units	[2],[3],[10]	$ 992,506
Amortized Cost	[2],[10]	955,305
Fair Value	[2],[10]	$ 995,871
Percentage of investment portfolio	[2],[10]	0.42%
Basis spread on variable rate	[1],[2],[10]	5.50%
Investment, Identifier [Axis]: Brand Industrial Services Inc First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.88% Due 8/1/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Brand Industrial Services Inc Member
Interest Rate	[4],[5],[6],[11]			10.88%
Maturity Date	[5],[6],[11]			Aug. 01, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 1,995,000
Amortized Cost	[5],[6],[11]			1,918,230
Fair Value	[5],[6],[11]			$ 1,980,756
Percentage of investment portfolio	[5],[6],[11]			0.89%
Basis spread on variable rate	[4],[5],[6],[11]			5.50%
Investment, Identifier [Axis]: Building Products First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Building Products [Member]		Building Products [Member]
Amortized Cost		$ 9,998,832	[2],[9]	$ 3,668,676	[5],[6]
Fair Value		$ 10,181,102	[2],[9]	$ 3,723,493	[5],[6]
Percentage of investment portfolio		4.29%	[2],[9]	1.68%	[5],[6]
Investment, Identifier [Axis]: Carriage Purchaser, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.72% Due 10/02/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Carriage Purchaser Inc Member
Interest Rate	[4],[5],[6],[11]			9.72%
Maturity Date	[5],[6],[11]			Oct. 02, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 1,489,828
Amortized Cost	[5],[6],[11]			1,464,945
Fair Value	[5],[6],[11]			$ 1,459,108
Percentage of investment portfolio	[5],[6],[11]			0.66%
Basis spread on variable rate	[4],[5],[6],[11]			4.25%
Investment, Identifier [Axis]: Cash Equivalents
Investments [Abstract]
Amortized Cost		$ 81,677,413	[2]	$ 69,473,744	[5]
Fair Value		$ 81,677,413	[2]	$ 69,473,744	[5]
Percentage of investment portfolio		34.50%	[2]	31.35%	[5]
Investment, Identifier [Axis]: Cassavant Holdings, LLC First and Second Lien Debt SOFR Spread 8.00%/7.00% PIK Interest Rate 15% Due 6/23/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Cassavant Holdings, L L C [Member]
Interest Rate	[1],[2],[8],[9]	15.00%
Maturity Date	[2],[8],[9]	Jun. 23, 2028
Par Amount/ Units	[2],[3],[8],[9]	$ 20,148,358
Amortized Cost	[2],[8],[9]	19,682,935
Fair Value	[2],[8],[9]	$ 19,572,115
Percentage of investment portfolio	[2],[8],[9]	8.27%
Basis spread on variable rate	[1],[2],[8],[9]	8.00%
Reference rate, PIK	[1],[2],[8],[9]	7.00%
Investment, Identifier [Axis]: Champ Acquisition Corporation First and Second Lien Debt SOFR Spread 5.50% Interest Rate 11.06% Due 12/19/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Champ Acquisition Corporation Member
Interest Rate	[2],[9],[10]	11.06%
Maturity Date	[2],[9],[10]	Dec. 19, 2025
Par Amount/ Units	[2],[9],[10]	$ 1,458,394
Amortized Cost	[2],[9],[10]	1,458,394
Fair Value	[2],[9],[10]	$ 1,460,217
Percentage of investment portfolio	[2],[9],[10]	0.62%
Basis spread on variable rate	[2],[9],[10]	5.50%
Investment, Identifier [Axis]: Champ Acquisition Corporation First and Second Lien Debt SOFR Spread 5.50% Interest Rate 11.11% Due 12/19/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Champ Acquisition Corporation Member
Interest Rate	[4],[5],[6],[11]			11.11%
Maturity Date	[5],[6],[11]			Dec. 19, 2025
Par Amount/ Units	[5],[6],[7],[11]			$ 1,481,690
Amortized Cost	[5],[6],[11]			1,481,690
Fair Value	[5],[6],[11]			$ 1,485,395
Percentage of investment portfolio	[5],[6],[11]			0.67%
Basis spread on variable rate	[4],[5],[6],[11]			5.50%
Investment, Identifier [Axis]: Charlotte Buyer, Inc. First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.57% Due 2/11/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Charlotte Buyer Inc Member
Interest Rate	[1],[2],[10]	10.57%
Maturity Date	[2],[10]	Feb. 11, 2028
Par Amount/ Units	[2],[3],[10]	$ 2,452,569
Amortized Cost	[2],[10]	2,395,279
Fair Value	[2],[10]	$ 2,458,431
Percentage of investment portfolio	[2],[10]	1.04%
Basis spread on variable rate	[1],[2],[10]	5.25%
Investment, Identifier [Axis]: Charlotte Buyer, Inc. First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.61% Due 2/11/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Charlotte Buyer Inc Member
Interest Rate	[4],[5],[6],[11]			10.61%
Maturity Date	[5],[6],[11]			Feb. 11, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 2,458,778
Amortized Cost	[5],[6],[11]			2,398,398
Fair Value	[5],[6],[11]			$ 2,466,622
Percentage of investment portfolio	[5],[6],[11]			1.11%
Basis spread on variable rate	[4],[5],[6],[11]			5.25%
Investment, Identifier [Axis]: Chemicals First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Chemicals [Member]		Chemicals [Member]
Amortized Cost		$ 6,420,574	[2],[9]	$ 8,834,265	[5],[6]
Fair Value		$ 6,535,878	[2],[9]	$ 8,989,738	[5],[6]
Percentage of investment portfolio		2.76%	[2],[9]	4.05%	[5],[6]
Investment, Identifier [Axis]: Commercial Services & Supplies
Investments [Abstract]
Amortized Cost		$ 14,792,309	[2],[9]	$ 14,792,309	[5],[6]
Fair Value		$ 15,715,487	[2],[9]	$ 15,559,956	[5],[6]
Percentage of investment portfolio		6.64%	[2],[9]	7.02%	[5],[6]
Investment, Identifier [Axis]: Commercial Services & Supplies Equity Investments
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Commercial Services And Supplies [Member]		Commercial Services And Supplies [Member]
Amortized Cost		$ 14,792,309	[2],[9]	$ 14,792,309	[5],[6]
Fair Value		$ 15,715,487	[2],[9]	$ 15,559,956	[5],[6]
Percentage of investment portfolio		6.64%	[2],[9]	7.02%	[5],[6]
Investment, Identifier [Axis]: Commercial Services & Supplies First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Commercial Services And Supplies [Member]
Amortized Cost		$ 36,031,995	[2]	$ 37,979,344	[5],[6]
Fair Value		$ 36,937,380	[2]	$ 38,498,136	[5],[6]
Percentage of investment portfolio		15.60%	[2]	17.37%	[5],[6]
Investment, Identifier [Axis]: Containers, Packaging & Glass First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Containers, Packaging and Glass [Member]		Containers, Packaging and Glass [Member]
Amortized Cost		$ 5,375,306	[2],[9]	$ 7,341,760	[5],[6]
Fair Value		$ 5,404,798	[2],[9]	$ 6,993,086	[5],[6]
Percentage of investment portfolio		2.28%	[2],[9]	3.16%	[5],[6]
Investment, Identifier [Axis]: Contruction and Engineering First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Contruction And Engineering [Member]		Contruction And Engineering [Member]
Amortized Cost		$ 30,683,350	[2],[9]	$ 14,694,725	[5],[6]
Fair Value		$ 30,648,512	[2],[9]	$ 14,677,456	[5],[6]
Percentage of investment portfolio		12.94%	[2],[9]	6.63%	[5],[6]
Investment, Identifier [Axis]: Covetrus, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.31% Due 10/13/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Covetrus Inc Member
Interest Rate	[1],[2],[10]	10.31%
Maturity Date	[2],[10]	Oct. 13, 2029
Par Amount/ Units	[2],[3],[10]	$ 992,481
Amortized Cost	[2],[10]	985,528
Fair Value	[2],[10]	$ 992,898
Percentage of investment portfolio	[2],[10]	0.42%
Basis spread on variable rate	[1],[2],[10]	5.00%
Investment, Identifier [Axis]: Covetrus, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.35% Due 10/13/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Covetrus Inc Member
Interest Rate	[4],[5],[6],[11]			10.35%
Maturity Date	[5],[6],[11]			Oct. 13, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 994,987
Amortized Cost	[5],[6],[11]			987,788
Fair Value	[5],[6],[11]			$ 993,127
Percentage of investment portfolio	[5],[6],[11]			0.45%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Cricket Valley Energy Center, First and Second Lien Debt SOFR Spread 3.90% Interest Rate 9.20% Due 6/30/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Cricket Valley Energy Center [Member]
Interest Rate	[1],[2],[8],[9],[10],[15]	9.20%
Maturity Date	[2],[8],[9],[10],[15]	Jun. 30, 2025
Par Amount/ Units	[2],[3],[8],[9],[10],[15]	$ 2,937,809
Amortized Cost	[2],[8],[9],[10],[15]	2,723,309
Fair Value	[2],[8],[9],[10],[15]	$ 2,761,688
Percentage of investment portfolio	[2],[8],[9],[10],[15]	1.17%
Basis spread on variable rate	[1],[8],[10],[15]	3.90%
Investment, Identifier [Axis]: Cricket Valley Energy Center, First and Second Lien Debt SOFR Spread 3.90% Interest Rate 9.25% Due 6/30/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Cricket Valley Energy Center [Member]
Interest Rate	[4],[5],[6],[11],[14],[16]			9.25%
Maturity Date	[5],[6],[11],[14],[16]			Jun. 30, 2025
Par Amount/ Units	[5],[6],[7],[11],[14],[16]			$ 2,966,340
Amortized Cost	[5],[6],[11],[14],[16]			2,729,032
Fair Value	[5],[6],[11],[14],[16]			$ 2,765,074
Percentage of investment portfolio	[5],[6],[11],[14],[16]			1.25%
Basis spread on variable rate	[4],[5],[6],[11],[14],[16]			3.90%
Investment, Identifier [Axis]: Crosby US Acquisition Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.21% Due 6/26/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Crosby US Acquisition Corp Member
Interest Rate	[4],[5],[6],[11],[17]			10.21%
Maturity Date	[5],[6],[11],[17]			Jun. 26, 2026
Par Amount/ Units	[5],[6],[7],[11],[17]			$ 618,262
Amortized Cost	[5],[6],[11],[17]			605,879
Fair Value	[5],[6],[11],[17]			$ 618,522
Percentage of investment portfolio	[5],[6],[11],[17]			0.28%
Basis spread on variable rate	[4],[5],[6],[11],[17]			4.75%
Investment, Identifier [Axis]: Cyanco Intermediate 2 Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.08% Due 7/10/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Cyanco Intermediate Two Corp [Member]
Interest Rate	[1],[2],[9],[10]	10.08%
Maturity Date	[2],[9],[10]	Jul. 10, 2028
Par Amount/ Units	[2],[3],[9],[10]	$ 2,556,429
Amortized Cost	[2],[9],[10]	2,510,746
Fair Value	[2],[9],[10]	$ 2,563,893
Percentage of investment portfolio	[2],[9],[10]	1.08%
Basis spread on variable rate	[1],[2],[9],[10]	4.75%
Investment, Identifier [Axis]: Cyanco Intermediate 2 Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.11% Due 7/10/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Cyanco Intermediate Two Corp [Member]
Interest Rate	[4],[5],[6],[11]			10.11%
Maturity Date	[5],[6],[11]			Jul. 10, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 2,992,500
Amortized Cost	[5],[6],[11]			2,936,542
Fair Value	[5],[6],[11]			$ 2,997,498
Percentage of investment portfolio	[5],[6],[11]			1.35%
Basis spread on variable rate	[4],[5],[6],[11]			4.75%
Investment, Identifier [Axis]: DS Parent Inc. First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.81% Due 12/13/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		D S Parent Inc [Member]		D S Parent Inc [Member]
Interest Rate		10.81%	[2],[9],[15]	10.81%	[4],[5],[6],[16]
Maturity Date		Dec. 13, 2030	[2],[9],[15]	Dec. 13, 2030	[5],[6],[16]
Par Amount/ Units		$ 3,000,000	[2],[9],[15]	$ 3,000,000	[5],[6],[7],[16]
Amortized Cost		2,852,020	[2],[9],[15]	2,850,000	[5],[6],[16]
Fair Value		$ 2,952,180	[2],[9],[15]	$ 2,857,500	[5],[6],[16]
Percentage of investment portfolio		1.25%	[2],[9],[15]	1.29%	[5],[6],[16]
Basis spread on variable rate		5.50%	[2],[9],[15]	5.50%	[4],[5],[6],[16]
Investment, Identifier [Axis]: DTI Holdco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.06% Due 4/26/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		DTI Holdco Inc Member
Interest Rate	[2],[9],[10]	10.06%
Maturity Date	[2],[9],[10]	Apr. 26, 2029
Par Amount/ Units	[2],[9],[10]	$ 1,481,203
Amortized Cost	[2],[9],[10]	1,433,158
Fair Value	[2],[9],[10]	$ 1,480,744
Percentage of investment portfolio	[2],[9],[10]	0.63%
Basis spread on variable rate	[2],[9],[10]	4.75%
Investment, Identifier [Axis]: DTI Holdco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.13% Due 4/26/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				DTI Holdco Inc Member
Interest Rate	[4],[5],[6],[11]			10.13%
Maturity Date	[5],[6],[11]			Apr. 26, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 1,484,962
Amortized Cost	[5],[6],[11]			1,435,033
Fair Value	[5],[6],[11]			$ 1,465,346
Percentage of investment portfolio	[5],[6],[11]			0.66%
Basis spread on variable rate	[4],[5],[6],[11]			4.75%
Investment, Identifier [Axis]: DXP Enterprises, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.29% Due 10/11/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		D X P Enterprises Inc [Member]		D X P Enterprises Inc [Member]
Interest Rate		10.29%	[2],[8],[9],[10]	10.29%	[4],[5],[6],[11],[14]
Maturity Date		Oct. 11, 2030	[2],[8],[9],[10]	Oct. 11, 2030	[5],[6],[11],[14]
Par Amount/ Units		$ 1,990,000	[2],[8],[9],[10]	$ 1,995,000	[5],[6],[7],[11],[14]
Amortized Cost		1,961,388	[2],[8],[9],[10]	1,965,563	[5],[6],[11],[14]
Fair Value		$ 1,988,766	[2],[8],[9],[10]	$ 1,999,988	[5],[6],[11],[14]
Percentage of investment portfolio		0.84%	[2],[8],[9],[10]	0.90%	[5],[6],[11],[14]
Basis spread on variable rate		4.75%	[2],[8],[9],[10]	4.75%	[4]
Investment, Identifier [Axis]: Discovery Energy Holding Corp First and Second Lien Debt SOFR Spread 10.06% Due 1/30/2031
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Kohler Energy Co LLC [Member]
Interest Rate	[1],[2]	10.06%
Maturity Date	[2],[9]	Jan. 30, 2031
Par Amount/ Units	[2],[9]	$ 2,800,000
Amortized Cost	[2],[9]	2,716,932
Fair Value	[2],[9]	$ 2,802,324
Percentage of investment portfolio	[2],[9]	1.18%
Basis spread on variable rate	[2],[9]	4.75%
Investment, Identifier [Axis]: Distributors First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Distributors [Member]		Distributors [Member]
Amortized Cost		$ 8,348,947	[2],[9]	$ 9,767,187	[5],[6]
Fair Value		$ 8,498,634	[2],[9]	$ 9,862,236	[5],[6]
Percentage of investment portfolio		3.59%	[2],[9]	4.46%	[5],[6]
Investment, Identifier [Axis]: Diversified Consumer Services First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Diversified Consumer Services [Member]		Diversified Consumer Services [Member]
Amortized Cost		$ 4,927,386	[2],[9]	$ 6,586,260	[5],[6]
Fair Value		$ 4,993,965	[2],[9]	$ 6,601,142	[5],[6]
Percentage of investment portfolio		2.11%	[2],[9]	2.98%	[5],[6]
Investment, Identifier [Axis]: Eagle Parent Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.55% Due 4/2/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Eagle Parent Corp Member
Interest Rate	[1],[2],[10]	9.55%
Maturity Date	[2],[10]	Apr. 02, 2029
Par Amount/ Units	[2],[3],[10]	$ 2,969,697
Amortized Cost	[2],[10]	2,939,353
Fair Value	[2],[10]	$ 2,941,247
Percentage of investment portfolio	[2],[10]	1.24%
Basis spread on variable rate	[1],[2],[10]	4.25%
Investment, Identifier [Axis]: Eagle Parent Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.64% Due 4/2/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Eagle Parent Corp Member
Interest Rate	[4],[5],[6],[11]			9.64%
Maturity Date	[5],[6],[11]			Apr. 02, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 2,977,273
Amortized Cost	[5],[6],[11]			2,945,687
Fair Value	[5],[6],[11]			$ 2,943,778
Percentage of investment portfolio	[5],[6],[11]			1.33%
Basis spread on variable rate	[4],[5],[6],[11]			4.25%
Investment, Identifier [Axis]: Electric Utilities First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Electric Utilities [Member]		Electric Utilities [Member]
Amortized Cost		$ 9,555,242	[2],[9]	$ 25,131,415	[5],[6]
Fair Value		$ 9,691,319	[2],[9]	$ 25,360,047	[5],[6]
Percentage of investment portfolio		4.10%	[2],[9]	11.46%	[5],[6]
Investment, Identifier [Axis]: Electrical Equipment First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Electrical Equipment [Member]
Amortized Cost	[2],[9]	$ 33,025,372
Fair Value	[2],[9]	$ 32,997,503
Percentage of investment portfolio	[2],[9]	13.93%
Investment, Identifier [Axis]: Electronic Equipment, Instruments & Components First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Electronic Equipment, Instruments And Components [Member]
Amortized Cost	[5],[6]			$ 1,162,703
Fair Value	[5],[6]			$ 1,114,240
Percentage of investment portfolio	[5],[6]			0.50%
Investment, Identifier [Axis]: Endure Digital Inc. First and Second Lien Debt SOFR Spread 3.50% Interest Rate 9.42% Due 2/10/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Endure Digital Inc Member
Interest Rate	[4],[5],[6],[11]			9.42%
Maturity Date	[5],[6],[11]			Feb. 10, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 989,848
Amortized Cost	[5],[6],[11]			907,221
Fair Value	[5],[6],[11]			$ 966,032
Percentage of investment portfolio	[5],[6],[11]			0.44%
Basis spread on variable rate	[4],[5],[6],[11]			3.50%
Investment, Identifier [Axis]: Energy Equipment & Services First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Energy Equipment and Services [Member]
Amortized Cost	[5],[6]			$ 4,800,437
Fair Value	[5],[6]			$ 4,951,973
Percentage of investment portfolio	[5],[6]			2.23%
Investment, Identifier [Axis]: EnergySolutions, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.36% Due 9/20/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Energy Solutions LLC Member		Energy Solutions LLC Member
Interest Rate		9.31%	[1],[2],[10]	9.36%	[4],[5],[6],[11]
Maturity Date		Sep. 20, 2030	[2],[10]	Sep. 20, 2030	[5],[6],[11]
Par Amount/ Units		$ 995,000	[2],[3],[10]	$ 997,500	[5],[6],[7],[11]
Amortized Cost		983,273	[2],[10]	985,417	[5],[6],[11]
Fair Value		$ 998,890	[2],[10]	$ 995,505	[5],[6],[11]
Percentage of investment portfolio		0.42%	[2],[10]	0.45%	[5],[6],[11]
Basis spread on variable rate		4.00%	[1],[2],[10]	4.00%	[4],[5],[6],[11]
Investment, Identifier [Axis]: Epic Crude Services, LP First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.93% Due 3/2/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Epic Crude Services LP Member
Interest Rate	[4],[5],[6],[11]			10.93%
Maturity Date	[5],[6],[11]			Mar. 02, 2026
Par Amount/ Units	[5],[6],[7],[11]			$ 4,976,857
Amortized Cost	[5],[6],[11]			4,800,437
Fair Value	[5],[6],[11]			$ 4,951,973
Percentage of investment portfolio	[5],[6],[11]			2.23%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: FCG Acquisitions Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.06% Due 3/31/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		FCG Acquisitions Inc Member
Interest Rate	[2],[9],[10]	10.06%
Maturity Date	[2],[9],[10]	Mar. 31, 2028
Par Amount/ Units	[2],[9],[10]	$ 1,631,925
Amortized Cost	[2],[9],[10]	1,600,464
Fair Value	[2],[9],[10]	$ 1,634,993
Percentage of investment portfolio	[2],[9],[10]	0.69%
Basis spread on variable rate	[2],[9],[10]	4.75%
Investment, Identifier [Axis]: FCG Acquisitions Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.11% Due 03/31/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				D X P Enterprises Inc [Member]
Interest Rate	[4],[11]			10.11%
Maturity Date	[5],[6],[11],[14]			Mar. 31, 2028
Par Amount/ Units	[7],[11]			$ 1,636,067
Amortized Cost	[11]			1,602,979
Fair Value	[11]			$ 1,631,813
Percentage of Net Assets	[11]			0.74%
Basis spread on variable rate	[4],[11]			4.75%
Investment, Identifier [Axis]: Fertitta Entertainment, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.36% Due 1/27/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Fertitta Entertainment LLC Member
Interest Rate	[4],[5],[6],[11]			9.36%
Maturity Date	[5],[6],[11]			Jan. 27, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 992,424
Amortized Cost	[5],[6],[11]			976,722
Fair Value	[5],[6],[11]			$ 992,216
Percentage of investment portfolio	[5],[6],[11]			0.45%
Basis spread on variable rate	[4],[5],[6],[11]			4.00%
Investment, Identifier [Axis]: First Brands Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.88% Due 3/30/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		First Brands Group LLC Member		First Brands Group LLC Member
Interest Rate		10.57%	[1],[2],[9]	10.88%	[4],[5],[6]
Maturity Date		Mar. 30, 2027	[2],[9]	Mar. 30, 2027	[5],[6]
Par Amount/ Units		$ 1,985,296	[2],[3],[9]	$ 1,989,950	[5],[6],[7]
Amortized Cost		1,928,047	[2],[9]	1,935,542	[5],[6]
Fair Value		$ 1,984,462	[2],[9]	$ 1,971,304	[5],[6]
Percentage of investment portfolio		0.84%	[2],[9]	0.89%	[5],[6]
Basis spread on variable rate		5.00%	[1],[2],[9]	5.00%	[4],[5],[6]
Investment, Identifier [Axis]: First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Senior Secured Loans First Lien Member		Senior Secured Loans First Lien Member
Amortized Cost		$ 382,525,832	[2],[9]	$ 330,431,006	[5],[6]
Fair Value		$ 388,995,716	[2],[9]	$ 336,818,564	[5],[6]
Percentage of investment portfolio		164.30%	[2],[9]	151.98%	[5],[6]
Investment, Identifier [Axis]: Foundation Building Materials Inc First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.31% Due 1/29/2031
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Foundation Building Materials Inc [Member]
Interest Rate	[1],[2],[9]	9.31%
Maturity Date	[2],[9]	Jan. 29, 2031
Par Amount/ Units	[2],[3],[9]	$ 2,437,500
Amortized Cost	[2],[9]	2,413,225
Fair Value	[2],[9]	$ 2,446,031
Percentage of investment portfolio	[2],[9]	1.03%
Basis spread on variable rate	[1],[2],[9]	4.00%
Investment, Identifier [Axis]: Gas Utilities First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Gas Utilities [Member]
Amortized Cost	[5],[6]			$ 961,834
Fair Value	[5],[6]			$ 951,271
Percentage of investment portfolio	[5],[6]			0.43%
Investment, Identifier [Axis]: Gas Utilities First and Second Lien Debt
Investments [Abstract]
Amortized Cost	[2]	$ 960,748
Fair Value	[2]	$ 985,157
Percentage of investment portfolio	[2]	0.42%
Investment, Identifier [Axis]: Generation Bridge Northeast, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.61% Due 8/22/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Generation Bridge Northeast LLC Member
Interest Rate	[4],[5],[6],[11]			9.61%
Maturity Date	[5],[6],[11]			Aug. 22, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 2,937,057
Amortized Cost	[5],[6],[11]			2,908,829
Fair Value	[5],[6],[11]			$ 2,945,633
Percentage of investment portfolio	[5],[6],[11]			1.33%
Basis spread on variable rate	[4],[5],[6],[11]			4.25%
Investment, Identifier [Axis]: GeoStabilization International, LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.50% Due 12/19/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		GeoStabilization International, LLC [Member]
Interest Rate	[2],[9],[10]	10.50%
Maturity Date	[2],[9],[10]	Dec. 19, 2028
Par Amount/ Units	[2],[9],[10]	$ 2,000,000
Amortized Cost	[2],[9],[10]	1,981,250
Fair Value	[2],[9],[10]	$ 1,985,000
Percentage of investment portfolio	[2],[9],[10]	0.84%
Basis spread on variable rate	[2],[9],[10]	5.25%
Investment, Identifier [Axis]: GeoStabilization International, LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.80% Due 12/19/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				GeoStabilization International, LLC [Member]
Interest Rate	[4],[5],[6],[11]			10.80%
Maturity Date	[5],[6],[11]			Dec. 19, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 2,000,000
Amortized Cost	[5],[6],[11]			1,980,493
Fair Value	[5],[6],[11]			$ 1,985,000
Percentage of investment portfolio	[5],[6],[11]			0.90%
Basis spread on variable rate	[4],[5],[6],[11]			5.25%
Investment, Identifier [Axis]: Gloves Buyer, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 12/29/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Gloves Buyer Inc Member
Interest Rate	[2],[8],[9],[10]	10.44%
Maturity Date	[2],[8],[9],[10]	Dec. 29, 2027
Par Amount/ Units	[2],[8],[9],[10]	$ 1,990,000
Amortized Cost	[2],[8],[9],[10]	1,921,991
Fair Value	[2],[8],[9],[10]	$ 1,985,025
Percentage of investment portfolio	[2],[8],[9],[10]	0.84%
Basis spread on variable rate	[2],[8],[9],[10]	5.00%
Investment, Identifier [Axis]: Gloves Buyer, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.47% Due 12/29/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Gloves Buyer Inc Member
Interest Rate	[4],[5],[6],[11],[14]			10.47%
Maturity Date	[5],[6],[11],[14]			Dec. 29, 2027
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 1,995,000
Amortized Cost	[5],[6],[11],[14]			1,923,179
Fair Value	[5],[6],[11],[14]			$ 1,960,088
Percentage of investment portfolio	[5],[6],[11],[14]			0.88%
Basis spread on variable rate	[4],[5],[6],[11],[14]			5.00%
Investment, Identifier [Axis]: Ground Transportation First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Ground Transportation [Member]
Amortized Cost		$ 977,772	[2]	$ 2,444,186	[5],[6]
Fair Value		$ 993,637	[2]	$ 2,447,052	[5],[6]
Percentage of investment portfolio		0.42%	[2]	1.11%	[5],[6]
Investment, Identifier [Axis]: Health Care Equipment & Supplies First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Health Care Equipment And Supplies [Member]
Amortized Cost	[5],[6]			$ 2,916,393
Fair Value	[5],[6]			$ 3,086,823
Percentage of investment portfolio	[5],[6]			1.39%
Investment, Identifier [Axis]: Health Care Equipment & Supplies First and Second Lien Debt
Investments [Abstract]
Amortized Cost	[2]	$ 1,556,879
Fair Value	[2]	$ 1,609,173
Percentage of investment portfolio	[2]	0.68%
Investment, Identifier [Axis]: Health Care Providers & Services First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Health Care Providers And Services [Member]
Amortized Cost	[5],[6]			$ 25,735,345
Fair Value	[5],[6]			$ 25,961,604
Percentage of investment portfolio	[5],[6]			11.70%
Investment, Identifier [Axis]: Health Care Providers and Services First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Health Care Providers And Services [Member]
Amortized Cost	[2]	$ 29,672,420
Fair Value	[2]	$ 29,796,284
Percentage of investment portfolio	[2]	12.60%
Investment, Identifier [Axis]: Health Care Technology First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Health Care Technology [Member]		Health Care Technology [Member]
Amortized Cost		$ 985,528	[2]	$ 987,788	[5],[6]
Fair Value		$ 992,898	[2]	$ 993,127	[5],[6]
Percentage of investment portfolio		0.42%	[2]	0.45%	[5],[6]
Investment, Identifier [Axis]: Heartland Dental, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 4/28/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Heartland Dental LLC Member
Interest Rate	[1],[2],[10]	10.33%
Maturity Date	[2],[10]	Apr. 28, 2028
Par Amount/ Units	[2],[3],[10]	$ 2,554,091
Amortized Cost	[2],[10]	2,473,136
Fair Value	[2],[10]	$ 2,556,338
Percentage of investment portfolio	[2],[10]	1.08%
Basis spread on variable rate	[1],[2],[10]	5.00%
Investment, Identifier [Axis]: Heartland Dental, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 4/28/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Heartland Dental LLC Member
Interest Rate	[4],[5],[6],[11]			10.36%
Maturity Date	[5],[6],[11]			Apr. 28, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 2,560,524
Amortized Cost	[5],[6],[11]			2,475,494
Fair Value	[5],[6],[11]			$ 2,551,332
Percentage of investment portfolio	[5],[6],[11]			1.15%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 10/29/2027 One
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Help At Home Inc Member
Interest Rate	[1],[2]	10.44%
Maturity Date	[2]	Oct. 29, 2027
Par Amount/ Units	[2],[3]	$ 111,180
Amortized Cost	[2]	109,644
Fair Value	[2]	$ 110,485
Percentage of investment portfolio	[2]	0.05%
Basis spread on variable rate	[1],[2]	5.00%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 10/29/2027 Three
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Help At Home Inc Member
Interest Rate	[1],[2]	10.44%
Maturity Date	[2]	Oct. 29, 2027
Par Amount/ Units	[2],[3]	$ 997,458
Amortized Cost	[2]	992,643
Fair Value	[2]	$ 991,224
Percentage of investment portfolio	[2]	0.42%
Basis spread on variable rate	[1],[2]	5.00%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 10/29/2027 Two
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Help At Home Inc Member
Interest Rate	[1],[2]	10.44%
Maturity Date	[2]	Oct. 29, 2027
Par Amount/ Units	[2],[3]	$ 878,619
Amortized Cost	[2]	866,519
Fair Value	[2]	$ 873,128
Percentage of investment portfolio	[2]	0.37%
Basis spread on variable rate	[1],[2]	5.00%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.46% Due 10/29/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Help At Home Inc Member
Interest Rate	[4],[5],[6],[11]			10.46%
Maturity Date	[5],[6],[11]			Oct. 29, 2027
Par Amount/ Units	[5],[6],[7],[11]			$ 992,349
Amortized Cost	[5],[6],[11]			979,161
Fair Value	[5],[6],[11]			$ 981,810
Percentage of investment portfolio	[5],[6],[11]			0.44%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Heritage-Crystal Clean, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.32% Due 10/17/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Heritage-Crystal Clean, Inc [Member]
Interest Rate	[1],[2]	10.32%
Maturity Date	[2]	Oct. 17, 2030
Par Amount/ Units	[2],[3]	$ 997,500
Amortized Cost	[2]	973,697
Fair Value	[2]	$ 997,809
Percentage of investment portfolio	[2]	0.42%
Basis spread on variable rate	[1],[2]	5.00%
Investment, Identifier [Axis]: Heritage-Crystal Clean, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.40% Due 10/17/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Heritage-Crystal Clean, Inc [Member]
Interest Rate	[4],[5],[6]			10.40%
Maturity Date	[5],[6]			Oct. 17, 2030
Par Amount/ Units	[5],[6],[7]			$ 1,000,000
Amortized Cost	[5],[6]			975,516
Fair Value	[5],[6]			$ 1,000,000
Percentage of investment portfolio	[5],[6]			0.45%
Basis spread on variable rate	[4],[5],[6]			5.00%
Investment, Identifier [Axis]: Holley Purchaser, Inc. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.22% Due 11/28/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Holley Purchaser Inc Member
Interest Rate	[4],[5],[6]			9.22%
Maturity Date	[5],[6]			Nov. 28, 2028
Par Amount/ Units	[5],[6],[7]			$ 4,392,630
Amortized Cost	[5],[6]			3,943,707
Fair Value	[5],[6]			$ 4,224,260
Percentage of investment portfolio	[5],[6]			1.91%
Basis spread on variable rate	[4],[5],[6]			3.75%
Investment, Identifier [Axis]: Hotels Restaurants and Leisure First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Hotels Restaurants And Leisure [Member]
Amortized Cost	[2]	$ 17,293,298
Fair Value	[2]	$ 19,803,415
Percentage of investment portfolio	[2]	8.36%
Investment, Identifier [Axis]: Hotels, Restaurants & Leisure First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Hotels, Restaurants & Leisure [Member]
Amortized Cost	[5],[6]			$ 17,474,770
Fair Value	[5],[6]			$ 20,042,292
Percentage of investment portfolio	[5],[6]			9.05%
Investment, Identifier [Axis]: Household Products First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Household Products [Member]		Household Products [Member]
Amortized Cost		$ 7,720,335	[2]	$ 14,349,256	[5],[6]
Fair Value		$ 7,939,331	[2]	$ 14,798,555	[5],[6]
Percentage of investment portfolio		3.35%	[2]	6.67%	[5],[6]
Investment, Identifier [Axis]: IBG Borrower LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 10.06% Due 8/22/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		IBG Borrower LLC [Member]
Interest Rate	[2],[9],[10]	10.06%
Maturity Date	[2],[9],[10]	Aug. 22, 2029
Par Amount/ Units	[2],[9],[10]	$ 9,875,000
Amortized Cost	[2],[9],[10]	9,780,465
Fair Value	[2],[9],[10]	$ 9,850,313
Percentage of investment portfolio	[2],[9],[10]	4.16%
Basis spread on variable rate	[2],[9],[10]	6.00%
Investment, Identifier [Axis]: IBG Borrower LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.50% Due 8/22/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				IBG Borrower LLC [Member]
Interest Rate	[4],[5],[6],[11],[14]			11.50%
Maturity Date	[5],[6],[11],[14]			Aug. 22, 2029
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 9,937,500
Amortized Cost	[5],[6],[11],[14]			9,839,190
Fair Value	[5],[6],[11],[14]			$ 9,839,190
Percentage of investment portfolio	[5],[6],[11],[14]			4.44%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.00%
Investment, Identifier [Axis]: IT Services First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		IT Services [Member]		IT Services [Member]
Amortized Cost		$ 11,628,189	[2]	$ 12,531,383	[5],[6]
Fair Value		$ 11,749,531	[2]	$ 12,803,082	[5],[6]
Percentage of investment portfolio		4.96%	[2]	5.78%	[5],[6]
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Due 4/27/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Imagefirst Holdings LLC Member
Maturity Date	[2],[10],[12]	Apr. 27, 2028
Par Amount/ Units	[2],[3],[10],[12]	$ 666,667
Amortized Cost	[2],[10],[12]	13,752
Fair Value	[2],[10],[12]	$ (1,667)
Percentage of investment portfolio	[2],[10],[12]	0.00%
Basis spread on variable rate	[1],[2],[10],[12]	5.00%
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 0.00% Due 4/27/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Imagefirst Holdings LLC Member
Interest Rate	[4],[5],[6],[11],[13]			0.00%
Maturity Date	[5],[6],[11],[13]			Apr. 27, 2028
Par Amount/ Units	[5],[6],[7],[11],[13]			$ 666,667
Amortized Cost	[5],[6],[11],[13]			(14,593)
Fair Value	[5],[6],[11],[13]			$ (3,333)
Percentage of investment portfolio	[5],[6],[11],[13]			0.00%
Basis spread on variable rate	[4],[5],[6],[11],[13]			5.00%
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.72% Due 4/27/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Imagefirst Holdings LLC Member
Interest Rate	[4],[5],[6],[11]			10.72%
Maturity Date	[5],[6],[11]			Apr. 27, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 3,316,667
Amortized Cost	[5],[6],[11]			3,242,402
Fair Value	[5],[6],[11]			$ 3,300,083
Percentage of investment portfolio	[5],[6],[11]			1.49%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 9.57% Due 4/27/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Imagefirst Holdings LLC Member
Interest Rate	[1],[2],[10]	9.57%
Maturity Date	[2],[10]	Apr. 27, 2028
Par Amount/ Units	[2],[3],[10]	$ 3,308,375
Amortized Cost	[2],[10]	3,237,765
Fair Value	[2],[10]	$ 3,300,104
Percentage of investment portfolio	[2],[10]	1.39%
Basis spread on variable rate	[1],[2],[10]	5.00%
Investment, Identifier [Axis]: Independent Power and Renewable Electricity Producers First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Independent Power and Renewable Electricity Producers [Member]
Amortized Cost	[5],[6]			$ 2,752,178
Fair Value	[5],[6]			$ 2,803,634
Percentage of investment portfolio	[5],[6]			1.27%
Investment, Identifier [Axis]: Inmar, Inc. First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.85% Due 5/1/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Inmar Inc Member
Interest Rate	[1],[2],[9],[10]	10.85%
Maturity Date	[2],[9],[10]	May 01, 2026
Par Amount/ Units	[2],[3],[9],[10]	$ 2,977,671
Amortized Cost	[2],[9],[10]	2,951,999
Fair Value	[2],[9],[10]	$ 2,975,824
Percentage of investment portfolio	[2],[9],[10]	1.26%
Basis spread on variable rate	[1],[2],[9],[10]	5.50%
Investment, Identifier [Axis]: Inmar, Inc. First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.86% Due 5/1/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Inmar Inc Member
Interest Rate	[4],[5],[6],[11]			10.86%
Maturity Date	[5],[6],[11]			May 01, 2026
Par Amount/ Units	[5],[6],[7],[11]			$ 2,985,000
Amortized Cost	[5],[6],[11]			2,956,521
Fair Value	[5],[6],[11]			$ 2,942,702
Percentage of investment portfolio	[5],[6],[11]			1.33%
Basis spread on variable rate	[4],[5],[6],[11]			5.50%
Investment, Identifier [Axis]: Insurance First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Insurance [Member]		Insurance [Member]
Amortized Cost		$ 9,436,116	[2]	$ 10,876,616	[5],[6]
Fair Value		$ 9,669,179	[2]	$ 11,118,883	[5],[6]
Percentage of investment portfolio		4.09%	[2]	5.02%	[5],[6]
Investment, Identifier [Axis]: Invenergy Thermal Operating I LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.92% Due 8/14/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Invenergy Thermal Operating ILLC Member
Interest Rate	[4],[5],[6],[11]			9.92%
Maturity Date	[5],[6],[11]			Aug. 14, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 2,807,143
Amortized Cost	[5],[6],[11]			2,752,178
Fair Value	[5],[6],[11]			$ 2,803,634
Percentage of investment portfolio	[5],[6],[11]			1.27%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: Investments And Cash Equivalents
Investments [Abstract]
Amortized Cost		$ 478,995,554	[2]	$ 414,697,059	[5]
Fair Value		$ 486,388,616	[2]	$ 421,852,264	[5]
Percentage of investment portfolio		205.44%	[2]	190.35%	[5]
Investment, Identifier [Axis]: Investments Portfolio
Investments [Abstract]
Amortized Cost		$ 397,318,141	[2],[9]	$ 345,223,315	[5]
Fair Value		$ 404,711,203	[2],[9]	$ 352,378,520	[5]
Percentage of investment portfolio		170.94%	[2],[9]	159.00%	[5]
Investment, Identifier [Axis]: Investments-Non-Controlled/Non-Affiliated
Investments [Abstract]
Amortized Cost		$ 397,318,141	[2],[9]	$ 345,223,315	[5],[6]
Fair Value		$ 404,711,203	[2],[9]	$ 352,378,520	[5],[6]
Percentage of investment portfolio		170.94%	[2],[9]	159.00%	[5],[6]
Investment, Identifier [Axis]: J-O Building Company LLC First and Second Lien Debt SOFR Spread 6.75% Interest Rate 12.10% Due 5/25/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		JO Building Company LLC Member
Interest Rate	[1],[2],[8],[10]	12.10%
Maturity Date	[2],[8],[10]	May 25, 2028
Par Amount/ Units	[2],[3],[8],[10]	$ 12,885,649
Amortized Cost	[2],[8],[10]	12,715,421
Fair Value	[2],[8],[10]	$ 12,982,291
Percentage of investment portfolio	[2],[8],[10]	5.48%
Basis spread on variable rate	[1],[2],[8],[10]	6.75%
Investment, Identifier [Axis]: J-O Building Company LLC First and Second Lien Debt SOFR Spread 6.75% Interest Rate 12.14% Due 5/25/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				JO Building Company LLC Member
Interest Rate	[4],[5],[6],[11],[14]			12.14%
Maturity Date	[5],[6],[11],[14]			May 25, 2028
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 13,883,430
Amortized Cost	[5],[6],[11],[14]			13,691,583
Fair Value	[5],[6],[11],[14]			$ 13,866,076
Percentage of investment portfolio	[5],[6],[11],[14]			6.26%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.75%
Investment, Identifier [Axis]: Journey Personal Care Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.72% Due 3/1/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Journey Personal Care Corp Member
Interest Rate	[4],[5],[6],[16]			9.72%
Maturity Date	[5],[6],[16]			Mar. 01, 2028
Par Amount/ Units	[5],[6],[7],[16]			$ 5,006,986
Amortized Cost	[5],[6],[16]			4,649,291
Fair Value	[5],[6],[16]			$ 4,927,725
Percentage of investment portfolio	[5],[6],[16]			2.22%
Basis spread on variable rate	[4],[5],[6],[16]			4.25%
Investment, Identifier [Axis]: KDC/one Development Corporation, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 8/15/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		KDC One Development Corporation Inc Member
Interest Rate	[2],[9],[10],[18]	10.33%
Maturity Date	[2],[9],[10],[18]	Aug. 15, 2028
Par Amount/ Units	[2],[9],[10],[18]	$ 4,000,000
Amortized Cost	[2],[9],[10],[18]	3,890,761
Fair Value	[2],[9],[10],[18]	$ 4,004,360
Percentage of investment portfolio	[2],[9],[10],[18]	1.69%
Basis spread on variable rate	[2],[9],[10],[18]	5.00%
Investment, Identifier [Axis]: KDC/one Development Corporation, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 8/15/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				KDC One Development Corporation Inc Member
Interest Rate	[4],[5],[6],[11],[19]			10.36%
Maturity Date	[5],[6],[11],[19]			Aug. 15, 2028
Par Amount/ Units	[5],[6],[7],[11],[19]			$ 4,000,000
Amortized Cost	[5],[6],[11],[19]			3,885,951
Fair Value	[5],[6],[11],[19]			$ 3,954,000
Percentage of investment portfolio	[5],[6],[11],[19]			1.78%
Basis spread on variable rate	[4],[5],[6],[11],[19]			5.00%
Investment, Identifier [Axis]: KKR Tinder TFC Aggregator L.P.
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		KKR Tinder TFC Aggregator LP Member		KKR Tinder TFC Aggregator LP Member
Par Amount/ Units		$ 14,792,309	[2],[3],[8],[9]	$ 14,792,309	[5],[6],[7],[14]
Amortized Cost		14,792,309	[2],[8],[9]	14,792,309	[5],[6],[14]
Fair Value		$ 15,715,487	[2],[8],[9]	$ 15,559,956	[5],[6],[14]
Percentage of investment portfolio		6.64%	[2],[8],[9]	7.02%	[5],[6],[14]
Investment, Identifier [Axis]: Kestrel Acquisition, LLC First and Second Lien Debt SOFR 4.25% Interest Rate 9.68% Due 6/2/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Kestrel Acquisition LLC Member
Interest Rate	[1],[2],[9]	9.68%
Maturity Date	[2],[9]	Jun. 02, 2025
Par Amount/ Units	[2],[3],[9]	$ 1,994,036
Amortized Cost	[2],[9]	1,989,549
Fair Value	[2],[9]	$ 1,983,448
Percentage of investment portfolio	[2],[9]	0.84%
Basis spread on variable rate	[1],[10]	4.25%
Investment, Identifier [Axis]: Kronos Acquisition Holdings Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.49% Due 12/22/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Kronos Acquisition Holdings Inc Member
Interest Rate	[1],[2],[10]	11.49%
Maturity Date	[2],[10]	Dec. 22, 2026
Par Amount/ Units	[2],[3],[10]	$ 2,602,177
Amortized Cost	[2],[10]	2,569,393
Fair Value	[2],[10]	$ 2,605,430
Percentage of investment portfolio	[2],[10]	1.10%
Basis spread on variable rate	[1],[2],[10]	6.00%
Investment, Identifier [Axis]: Kronos Acquisition Holdings Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.54% Due 12/22/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Kronos Acquisition Holdings Inc Member
Interest Rate	[4],[5],[6],[11]			11.54%
Maturity Date	[5],[6],[11]			Dec. 22, 2026
Par Amount/ Units	[5],[6],[7],[11]			$ 2,608,832
Amortized Cost	[5],[6],[11]			2,573,424
Fair Value	[5],[6],[11]			$ 2,610,476
Percentage of investment portfolio	[5],[6],[11]			1.18%
Basis spread on variable rate	[4],[5],[6],[11]			6.00%
Investment, Identifier [Axis]: LSF11 A5 Holdco LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.68% Due 10/15/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		LSF 11 A 5 Holdco LLC Member
Interest Rate	[1],[2],[9],[10],[20]	9.68%
Maturity Date	[2],[9],[10],[20]	Oct. 15, 2028
Par Amount/ Units	[2],[3],[9],[10],[20]	$ 3,970,000
Amortized Cost	[2],[9],[10],[20]	3,909,828
Fair Value	[2],[9],[10],[20]	$ 3,971,985
Percentage of investment portfolio	[2],[9],[10],[20]	1.68%
Basis spread on variable rate	[1],[2],[9],[10],[20]	4.25%
Investment, Identifier [Axis]: LSF11 A5 Holdco LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.71% Due 10/15/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				LSF 11 A 5 Holdco LLC Member
Interest Rate	[4],[5],[6],[11],[17]			9.71%
Maturity Date	[5],[6],[11],[17]			Oct. 15, 2028
Par Amount/ Units	[5],[6],[7],[11],[17]			$ 3,980,000
Amortized Cost	[5],[6],[11],[17]			3,917,098
Fair Value	[5],[6],[11],[17]			$ 3,986,647
Percentage of investment portfolio	[5],[6],[11],[17]			1.80%
Basis spread on variable rate	[4],[5],[6],[11],[17]			4.25%
Investment, Identifier [Axis]: LSF12 Badger Bidco LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 8/30/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		LSF 12 Badger Bidco LLC Member
Interest Rate	[2],[9],[10]	11.33%
Maturity Date	[2],[9],[10]	Aug. 30, 2030
Par Amount/ Units	[2],[9],[10]	$ 2,992,500
Amortized Cost	[2],[9],[10]	2,928,897
Fair Value	[2],[9],[10]	$ 2,998,126
Percentage of investment portfolio	[2],[9],[10]	1.27%
Basis spread on variable rate	[2],[9],[10]	6.00%
Investment, Identifier [Axis]: LSF12 Badger Bidco LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.36% Due 8/30/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				LSF 12 Badger Bidco LLC Member
Interest Rate	[4],[5],[6],[11]			11.36%
Maturity Date	[5],[6],[11]			Aug. 30, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 3,000,000
Amortized Cost	[5],[6],[11]			2,934,606
Fair Value	[5],[6],[11]			$ 2,985,000
Percentage of investment portfolio	[5],[6],[11]			1.35%
Basis spread on variable rate	[4],[5],[6],[11]			6.00%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 8/3/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Lackawanna Energy Center LLC Member
Interest Rate	[1],[2],[9],[10]	10.33%
Maturity Date	[2],[9],[10]	Aug. 03, 2029
Par Amount/ Units	[2],[3],[9],[10]	$ 4,089,879
Amortized Cost	[2],[9],[10]	3,977,342
Fair Value	[2],[9],[10]	$ 4,062,599
Percentage of investment portfolio	[2],[9],[10]	1.72%
Basis spread on variable rate	[1],[10]	5.00%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 8/6/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Lackawanna Energy Center LLC Member
Interest Rate	[1],[2],[9],[10]	10.33%
Maturity Date	[2],[9],[10]	Aug. 06, 2029
Par Amount/ Units	[2],[3],[9],[10]	$ 889,518
Amortized Cost	[2],[9],[10]	865,042
Fair Value	[2],[9],[10]	$ 883,584
Percentage of investment portfolio	[2],[9],[10]	0.37%
Basis spread on variable rate	[1],[10]	5.00%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 8/3/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Lackawanna Energy Center LLC Member
Interest Rate	[4],[5],[6],[11]			10.36%
Maturity Date	[5],[6],[11]			Aug. 03, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 4,100,181
Amortized Cost	[5],[6],[11]			3,983,506
Fair Value	[5],[6],[11]			$ 4,045,525
Percentage of investment portfolio	[5],[6],[11]			1.83%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 8/6/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Lackawanna Energy Center LLC Member
Interest Rate	[4],[5],[6],[11]			10.36%
Maturity Date	[5],[6],[11]			Aug. 06, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 889,518
Amortized Cost	[5],[6],[11]			864,204
Fair Value	[5],[6],[11]			$ 877,660
Percentage of investment portfolio	[5],[6],[11]			0.40%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: LaserShip, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 10.40% Due 5/7/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Laser Ship Inc Member		Laser Ship Inc Member
Interest Rate		10.40%	[1],[2],[9],[10]	10.40%	[4],[5],[6],[11]
Maturity Date		May 07, 2028	[2],[9],[10]	May 07, 2028	[5],[6],[11]
Par Amount/ Units		$ 2,002,980	[2],[3],[9],[10]	$ 2,008,116	[5],[6],[7],[11]
Amortized Cost		1,809,366	[2],[9],[10]	1,805,022	[5],[6],[11]
Fair Value		$ 1,861,770	[2],[9],[10]	$ 1,839,092	[5],[6],[11]
Percentage of investment portfolio		0.79%	[2],[9],[10]	0.83%	[5],[6],[11]
Basis spread on variable rate		4.50%	[1],[2],[9],[10]	4.50%	[4],[5],[6],[11]
Investment, Identifier [Axis]: Leisure Products First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Leisure Products [Member]		Leisure Products [Member]
Amortized Cost		$ 1,896,293	[2]	$ 1,894,763	[5],[6]
Fair Value		$ 1,984,890	[2]	$ 1,968,445	[5],[6]
Percentage of investment portfolio		0.84%	[2]	0.89%	[5],[6]
Investment, Identifier [Axis]: Liabilities in Excess of Other Assets
Investments [Abstract]
Fair Value		$ (249,616,063)	[2]	$ (200,236,344)	[5]
Percentage of investment portfolio		(105.44%)	[2]	(90.35%)	[5]
Investment, Identifier [Axis]: Limetree Bay Terminals, LLC First and Second Lien Debt SOFR Spread 4.50%/1% PIK Interest Rate 9.81% Due 12/11/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Limetree Bay Terminals, LLC [Member]
Interest Rate	[2],[8],[9]	9.81%
Maturity Date	[2],[8],[9]	Dec. 11, 2026
Par Amount/ Units	[2],[8],[9]	$ 23,097,426
Amortized Cost	[2],[8],[9]	22,142,576
Fair Value	[2],[8],[9]	$ 22,101,927
Percentage of investment portfolio	[2],[8],[9]	9.33%
Basis spread on variable rate	[2],[8],[9]	4.50%
Reference rate, PIK	[2],[8],[9]	1.00%
Investment, Identifier [Axis]: Limetree Bay Terminals, LLC First and Second Lien Debt SOFR Spread 6.50%/2% PIK Interest Rate 11.81% Due 2/12/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Limetree Bay Terminals, LLC [Member]
Interest Rate	[2],[8],[9]	11.81%
Maturity Date	[2],[8],[9]	Feb. 12, 2029
Par Amount/ Units	[2],[8],[9]	$ 10,170,000
Amortized Cost	[2],[8],[9]	9,920,546
Fair Value	[2],[8],[9]	$ 9,921,852
Percentage of investment portfolio	[2],[8],[9]	4.19%
Basis spread on variable rate	[2],[8],[9]	6.50%
Reference rate, PIK	[2],[8],[9]	2.00%
Investment, Identifier [Axis]: Lincoln Metal Shop, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.46% Due 6/7/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Lincoln Metal Shop Inc Member
Interest Rate	[2],[8],[9],[10]	11.46%
Maturity Date	[2],[8],[9],[10]	Jun. 07, 2027
Par Amount/ Units	[2],[8],[9],[10]	$ 22,870,461
Amortized Cost	[2],[8],[9],[10]	22,492,634
Fair Value	[2],[8],[9],[10]	$ 23,013,402
Percentage of investment portfolio	[2],[8],[9],[10]	9.72%
Basis spread on variable rate	[2],[8],[9],[10]	6.00%
Investment, Identifier [Axis]: Lincoln Metal Shop, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.51a% Due 06/7/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				D X P Enterprises Inc [Member]
Interest Rate	[4],[11]			1.51%
Maturity Date	[11]			Jun. 07, 2027
Par Amount/ Units	[11]			$ 3,171,389
Amortized Cost	[11]			2,764,069
Fair Value	[11]			$ 23,142,424
Percentage of Net Assets	[11]			10.44%
Basis spread on variable rate	[4],[11]			6.00%
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/29/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		MEI Buyer LLC Member		MEI Buyer LLC Member
Maturity Date		Jun. 29, 2029	[2],[8],[9],[10],[12]	Jun. 29, 2029	[5],[6],[11],[13],[14]
Par Amount/ Units		$ 2,650,602	[2],[3],[8],[9],[10],[12]	$ 2,650,602	[5],[6],[7],[11],[13],[14]
Amortized Cost		69,363	[2],[8],[9],[10],[12]	(23,232)	[5],[6],[11],[13],[14]
Fair Value		$ (71,964)	[2],[8],[9],[10],[12]	$ (26,952)	[5],[6],[11],[13],[14]
Percentage of investment portfolio		(0.03%)	[2],[8],[9],[10],[12]	(0.01%)	[5],[6],[11],[13],[14]
Basis spread on variable rate		6.50%	[1],[8],[10],[12]	6.50%	[4],[5],[6],[11],[13],[14]
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/29/2029 One
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		MEI Buyer LLC Member		MEI Buyer LLC Member
Maturity Date		Jun. 29, 2029	[2],[8],[9],[10],[12]	Jun. 29, 2029	[5],[6],[11],[14]
Par Amount/ Units		$ 2,409,639	[2],[3],[8],[9],[10],[12]	$ 2,409,639	[5],[6],[7],[11],[14]
Amortized Cost		31,657	[2],[8],[9],[10],[12]	(33,525)	[5],[6],[11],[14]
Fair Value		$ (65,422)	[2],[8],[9],[10],[12]	$ (48,313)	[5],[6],[11],[14]
Percentage of investment portfolio		(0.03%)	[2],[8],[9],[10],[12]	(0.02%)	[5],[6],[11],[14]
Basis spread on variable rate		6.50%	[1],[8],[10],[12]	6.50%	[4],[5],[6],[11],[14]
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.83% Due 6/29/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		MEI Buyer LLC Member
Interest Rate	[1],[2],[8],[9],[10]	11.83%
Maturity Date	[2],[8],[9],[10]	Jun. 29, 2029
Par Amount/ Units	[2],[3],[8],[9],[10]	$ 15,145,578
Amortized Cost	[2],[8],[9],[10]	14,732,848
Fair Value	[2],[8],[9],[10]	$ 14,734,376
Percentage of investment portfolio	[2],[8],[9],[10]	6.22%
Basis spread on variable rate	[1],[8],[10],[12]	6.50%
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.86% Due 6/29/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				MEI Buyer LLC Member
Interest Rate	[4],[5],[6],[11],[14]			11.86%
Maturity Date	[5],[6],[11],[14]			Jun. 29, 2029
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 15,183,633
Amortized Cost	[5],[6],[11],[14]			14,751,482
Fair Value	[5],[6],[11],[14]			$ 14,752,721
Percentage of investment portfolio	[5],[6],[11],[14]			6.66%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.50%
Investment, Identifier [Axis]: Machinery First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Machinery [Member]		Machinery [Member]
Amortized Cost		$ 14,885,370	[2],[9]	$ 12,784,647	[5],[6]
Fair Value		$ 15,331,494	[2],[9]	$ 13,019,981	[5],[6]
Percentage of investment portfolio		6.48%	[2],[9]	5.88%	[5],[6]
Investment, Identifier [Axis]: Mckissock Investment Holdings LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.38% Due 3/12/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Mckissock Investment Holdings LLC [Member]		Mckissock Investment Holdings LLC [Member]
Interest Rate		10.38%	[2],[9]	10.38%	[4],[5],[6]
Maturity Date		Mar. 12, 2029	[2],[9]	Mar. 12, 2029	[5],[6]
Par Amount/ Units		$ 2,500,000	[2],[9]	$ 2,500,000	[5],[6],[7]
Amortized Cost		2,440,802	[2],[9]	2,438,535	[5],[6]
Fair Value		$ 2,504,175	[2],[9]	$ 2,492,700	[5],[6]
Percentage of investment portfolio		1.06%	[2],[9]	1.12%	[5],[6]
Basis spread on variable rate		5.00%	[2],[9]	5.00%	[4],[5],[6]
Investment, Identifier [Axis]: Metals & Mining First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Metals and Mining [Member]		Metals Mining First And Second Lien Debt Member
Amortized Cost		$ 2,956,976	[2],[9]	$ 2,963,608	[5],[6]
Fair Value		$ 2,991,735	[2],[9]	$ 3,000,909	[5],[6]
Percentage of investment portfolio		1.26%	[2],[9]	1.35%	[5],[6]
Investment, Identifier [Axis]: NMN Holdings III Corp First and Second Lien Debt SOFR Spread 3.50% Interest Rate 8.97% Due 11/13/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				NMN Holdings III Corp Member
Interest Rate	[4],[5],[6],[14]			8.97%
Maturity Date	[5],[6],[14]			Nov. 13, 2025
Par Amount/ Units	[5],[6],[7],[14]			$ 3,141,804
Amortized Cost	[5],[6],[14]			2,916,393
Fair Value	[5],[6],[14]			$ 3,086,823
Percentage of investment portfolio	[5],[6],[14]			1.39%
Basis spread on variable rate	[4],[5],[6],[14]			3.50%
Investment, Identifier [Axis]: NMN Holdings III Corp. First and Second Lien Debt SOFR Spread 3.50% Interest Rate 8.94% Due 11/13/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		AVSC Holding Corp Member
Interest Rate	[1],[2],[9]	8.94%
Maturity Date	[2],[9]	Nov. 13, 2025
Par Amount/ Units	[2],[3],[9]	$ 1,348,442
Amortized Cost	[2],[9]	1,282,551
Fair Value	[2],[9]	$ 1,324,844
Percentage of investment portfolio	[2],[9]	0.56%
Basis spread on variable rate	[1]	3.50%
Investment, Identifier [Axis]: NMN Holdings III Corp. First and Second Lien Debt SOFR Spread 3.50% Interest Rate 9.20% Due 11/13/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		AVSC Holding Corp Member
Interest Rate	[1],[2]	8.94%
Maturity Date	[2]	Nov. 13, 2025
Par Amount/ Units	[2],[3]	$ 289,393
Amortized Cost	[2]	274,328
Fair Value	[2]	$ 284,329
Percentage of investment portfolio	[2]	0.12%
Basis spread on variable rate	[1]	3.50%
Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.42% Due 4/11/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Neptune Bidco US Inc Member
Interest Rate	[1],[2],[10]	10.42%
Maturity Date	[2],[10]	Apr. 11, 2029
Par Amount/ Units	[2],[3],[10]	$ 5,260,250
Amortized Cost	[2],[10]	4,877,448
Fair Value	[2],[10]	$ 4,843,007
Percentage of investment portfolio	[2],[10]	2.05%
Basis spread on variable rate	[1],[2],[10]	5.00%
Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.51% Due 4/11/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Neptune Bidco US Inc Member
Interest Rate	[4],[5],[6],[11]			10.51%
Maturity Date	[5],[6],[11]			Apr. 11, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 5,273,500
Amortized Cost	[5],[6],[11]			4,876,118
Fair Value	[5],[6],[11]			$ 4,805,477
Percentage of investment portfolio	[5],[6],[11]			2.17%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Net Assets
Investments [Abstract]
Fair Value	[2]	$ 236,772,553
Percentage of investment portfolio	[2]	100.00%
Net Assets	[5]			$ 221,615,920
Percentage of Net Assets	[5]			100.00%
Investment, Identifier [Axis]: Nielsen Consumer Inc. First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.58% Due 3/6/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Nielsen Consumer Inc Member
Interest Rate	[1],[2],[10],[20]	11.58%
Maturity Date	[2],[10],[20]	Mar. 06, 2028
Par Amount/ Units	[2],[3],[10],[20]	$ 3,970,000
Amortized Cost	[2],[10],[20]	3,585,716
Fair Value	[2],[10],[20]	$ 3,941,456
Percentage of investment portfolio	[2],[10],[20]	1.66%
Basis spread on variable rate	[1],[2],[10],[20]	6.25%
Investment, Identifier [Axis]: Nielsen Consumer Inc. First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.61% Due 3/6/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Nielsen Consumer Inc Member
Interest Rate	[4],[5],[6],[11],[17]			11.61%
Maturity Date	[5],[6],[11],[17]			Mar. 06, 2028
Par Amount/ Units	[5],[6],[7],[11],[17]			$ 3,980,000
Amortized Cost	[5],[6],[11],[17]			3,576,958
Fair Value	[5],[6],[11],[17]			$ 3,887,465
Percentage of investment portfolio	[5],[6],[11],[17]			1.75%
Basis spread on variable rate	[4],[5],[6],[11],[17]			6.25%
Investment, Identifier [Axis]: Non-qualifying Assets
Investments [Abstract]
Percentage of investment portfolio		1.58%		2.17%
Investment, Identifier [Axis]: Odyssey Logistics & Technology Corporation First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.83% Due 10/12/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Odyssey Logistics And Technology Corporation [Member]
Interest Rate	[1],[2],[10]	9.83%
Maturity Date	[2],[10]	Oct. 12, 2027
Par Amount/ Units	[2],[3],[10]	$ 995,000
Amortized Cost	[2],[10]	977,772
Fair Value	[2],[10]	$ 993,637
Percentage of investment portfolio	[2],[10]	0.42%
Basis spread on variable rate	[1],[10]	4.50%
Investment, Identifier [Axis]: Odyssey Logistics & Technology Corporation First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.86% Due 10/12/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Odyssey Logistics And Technology Corporation [Member]
Interest Rate	[4],[5],[6],[11]			9.86%
Maturity Date	[5],[6],[11]			Oct. 12, 2027
Par Amount/ Units	[5],[6],[7],[11]			$ 997,500
Amortized Cost	[5],[6],[11]			979,241
Fair Value	[5],[6],[11]			$ 987,944
Percentage of investment portfolio	[5],[6],[11]			0.45%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: Oil, Gas & Consumable Fuels First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Oil Gas And Consumable Fuels [Member]
Amortized Cost	[2],[9]	$ 32,063,122
Fair Value	[2],[9]	$ 32,023,779
Percentage of investment portfolio	[2],[9]	13.52%
Investment, Identifier [Axis]: Oscar AcquisitionCo, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.90% Due 4/29/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Oscar Acquisition Co LLC Member
Interest Rate	[1],[2],[9],[10]	9.90%
Maturity Date	[2],[9],[10]	Apr. 29, 2029
Par Amount/ Units	[2],[3],[9],[10]	$ 1,733,672
Amortized Cost	[2],[9],[10]	1,689,346
Fair Value	[2],[9],[10]	$ 1,736,931
Percentage of investment portfolio	[2],[9],[10]	0.73%
Basis spread on variable rate	[1],[2],[9],[10]	4.50%
Investment, Identifier [Axis]: Oscar AcquisitionCo, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.95% Due 4/29/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Oscar Acquisition Co LLC Member
Interest Rate	[4],[5],[6],[11]			9.95%
Maturity Date	[5],[6],[11]			Apr. 29, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 1,738,072
Amortized Cost	[5],[6],[11]			1,691,987
Fair Value	[5],[6],[11]			$ 1,718,518
Percentage of investment portfolio	[5],[6],[11]			0.78%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: PAI Holdco, Inc. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.39% Due 10/28/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				PAI Holdco Inc Member
Interest Rate	[4],[5],[6],[11]			9.39%
Maturity Date	[5],[6],[11]			Oct. 28, 2027
Par Amount/ Units	[5],[6],[7],[11]			$ 1,488,520
Amortized Cost	[5],[6],[11]			1,420,416
Fair Value	[5],[6],[11]			$ 1,385,261
Percentage of investment portfolio	[5],[6],[11]			0.63%
Basis spread on variable rate	[4],[5],[6],[11]			3.75%
Investment, Identifier [Axis]: Parkway Generation, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.32% Due 2/18/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Heritage-Crystal Clean, Inc [Member]
Interest Rate	[1],[2],[9]	10.32%
Maturity Date	[2],[9]	Feb. 18, 2029
Par Amount/ Units	[2],[3],[9]	$ 872,906
Amortized Cost	[2],[9]	848,083
Fair Value	[2],[9]	$ 869,632
Percentage of investment portfolio	[2],[9]	0.37%
Basis spread on variable rate	[1]	4.75%
Investment, Identifier [Axis]: Parkway Generation, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.39% Due 2/18/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Parkway Generation LLC Member
Interest Rate		10.32%	[1],[2]	10.39%	[4],[5],[6]
Maturity Date		Feb. 18, 2029	[2]	Feb. 18, 2029	[5],[6]
Par Amount/ Units		$ 115,960	[2],[3]	$ 991,093	[5],[6],[7]
Amortized Cost		112,665	[2]	961,834	[5],[6]
Fair Value		$ 115,525	[2]	$ 951,271	[5],[6]
Percentage of investment portfolio		0.05%	[2]	0.43%	[5],[6]
Basis spread on variable rate		4.75%	[1]	4.75%	[4],[5],[6]
Investment, Identifier [Axis]: Parkway Generation, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.39% Due 2/18/2029 One
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Heritage-Crystal Clean, Inc [Member]
Investment, Identifier [Axis]: Particle Investments S.a.r.l. First and Second Lien Debt LIBOR Spread 5.25% Interest Rate 10.72% Due 5/24/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Particle Investments SARL Member
Interest Rate	[4],[5],[6],[17],[21]			10.72%
Maturity Date	[5],[6],[17],[21]			May 24, 2027
Par Amount/ Units	[5],[6],[7],[17],[21]			$ 989,080
Amortized Cost	[5],[6],[17],[21]			983,761
Fair Value	[5],[6],[17],[21]			$ 984,135
Percentage of investment portfolio	[5],[6],[17],[21]			0.44%
Basis spread on variable rate	[4],[5],[6],[17],[21]			5.25%
Investment, Identifier [Axis]: Patriot Container Corp First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.21% Due 3/20/2025
Investments [Abstract]
Basis spread on variable rate	[4]			3.75%
Investment, Identifier [Axis]: Patriot Container Corp. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.18% Due 3/20/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Patriot Container Corp Member
Interest Rate	[2],[9],[10]	9.18%
Maturity Date	[2],[9],[10]	Mar. 20, 2025
Par Amount/ Units	[2],[9],[10]	$ 2,965,824
Amortized Cost	[2],[9],[10]	2,842,767
Fair Value	[2],[9],[10]	$ 2,868,367
Percentage of investment portfolio	[2],[9],[10]	1.21%
Basis spread on variable rate	[2],[9],[10]	3.75%
Investment, Identifier [Axis]: Pediatric Associates Holding Company, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.94% Due 12/29/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Pediatric Associates Holding Company LLC Member
Interest Rate	[1],[2],[10]	9.94%
Maturity Date	[2],[10]	Dec. 29, 2028
Par Amount/ Units	[2],[3],[10]	$ 992,500
Amortized Cost	[2],[10]	957,323
Fair Value	[2],[10]	$ 853,550
Percentage of investment portfolio	[2],[10]	0.36%
Basis spread on variable rate	[1],[2],[10]	4.50%
Investment, Identifier [Axis]: Pediatric Associates Holding Company, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.97% Due 12/29/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pediatric Associates Holding Company LLC Member
Interest Rate	[4],[5],[6],[11]			9.97%
Maturity Date	[5],[6],[11]			Dec. 29, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 995,000
Amortized Cost	[5],[6],[11]			958,313
Fair Value	[5],[6],[11]			$ 960,175
Percentage of investment portfolio	[5],[6],[11]			0.43%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: Personal Care Products First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Personal Care Products [Member]		Personal Care Products [Member]
Amortized Cost		$ 3,890,761	[2],[9]	$ 3,885,951	[5],[6]
Fair Value		$ 4,004,360	[2],[9]	$ 22,307,217	[5],[6]
Percentage of investment portfolio		1.69%	[2],[9]	1.78%	[5],[6]
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0% Due 11/15/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Pet Vet Care Centers L L C [Member]
Interest Rate	[1],[2],[8],[10],[12]	0.00%
Maturity Date	[2],[8],[10],[12]	Nov. 15, 2029
Par Amount/ Units	[2],[3],[8],[10],[12]	$ 1,768,583
Amortized Cost	[2],[8],[10],[12]	33,131
Fair Value	[2],[8],[10],[12]	$ (34,222)
Percentage of investment portfolio	[2],[8],[10],[12]	(0.01%)
Basis spread on variable rate	[1],[2],[8],[10],[12]	6.00%
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0% Due 11/15/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Pet Vet Care Centers L L C [Member]
Interest Rate	[1],[2],[8],[10],[12]	0.00%
Maturity Date	[2],[8],[10],[12]	Nov. 15, 2030
Par Amount/ Units	[2],[3],[8],[10],[12]	$ 1,768,583
Amortized Cost	[2],[8],[10],[12]	16,726
Fair Value	[2],[8],[10],[12]	$ (34,487)
Percentage of investment portfolio	[2],[8],[10],[12]	(0.01%)
Basis spread on variable rate	[1],[2],[8],[10],[12]	6.00%
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0.00% Due 11/15/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pet Vet Care Centers L L C [Member]
Interest Rate	[4],[5],[6],[11],[13],[14]			0.00%
Maturity Date	[5],[6],[11],[13],[14]			Nov. 15, 2029
Par Amount/ Units	[5],[6],[7],[11],[13],[14]			$ 1,768,583
Amortized Cost	[5],[6],[11],[13],[14]			(34,430)
Fair Value	[5],[6],[11],[13],[14]			$ (34,430)
Percentage of investment portfolio	[5],[6],[11],[13],[14]			(0.02%)
Basis spread on variable rate	[4],[5],[6],[11],[13],[14]			6.00%
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0.00% Due 11/15/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pet Vet Care Centers L L C [Member]
Interest Rate	[4],[5],[6],[11],[13],[14]			0.00%
Maturity Date	[5],[6],[11],[13],[14]			Nov. 15, 2030
Par Amount/ Units	[5],[6],[7],[11],[13],[14]			$ 1,768,583
Amortized Cost	[5],[6],[11],[13],[14]			(17,354)
Fair Value	[5],[6],[11],[13],[14]			$ (17,354)
Percentage of investment portfolio	[5],[6],[11],[13],[14]			(0.01%)
Basis spread on variable rate	[4],[5],[6],[11],[13],[14]			6.00%
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 11/15/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Pet Vet Care Centers L L C [Member]
Interest Rate	[1],[2],[8],[10]	11.33%
Maturity Date	[2],[8],[10]	Nov. 15, 2030
Par Amount/ Units	[2],[3],[8],[10]	$ 13,525,241
Amortized Cost	[2],[8],[10]	13,264,649
Fair Value	[2],[8],[10]	$ 13,262,175
Percentage of investment portfolio	[2],[8],[10]	5.60%
Basis spread on variable rate	[1],[2],[8],[10]	6.00%
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.36% Due 11/15/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pet Vet Care Centers L L C [Member]
Interest Rate	[4],[5],[6],[11],[14]			11.36%
Maturity Date	[5],[6],[11],[14]			Nov. 15, 2030
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 13,559,139
Amortized Cost	[5],[6],[11],[14]			13,291,418
Fair Value	[5],[6],[11],[14]			$ 13,291,418
Percentage of investment portfolio	[5],[6],[11],[14]			6.00%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.00%
Investment, Identifier [Axis]: Physician Partners LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.53% Due 12/26/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Physician Partners LLC Member		Physician Partners LLC Member
Interest Rate		9.53%	[1],[2],[10]	9.53%	[4],[5],[6],[11]
Maturity Date		Dec. 26, 2028	[2],[10]	Dec. 26, 2028	[5],[6],[11]
Par Amount/ Units		$ 989,899	[2],[3],[10]	$ 992,424	[5],[6],[7],[11]
Amortized Cost		942,341	[2],[10]	942,802	[5],[6],[11]
Fair Value		$ 733,763	[2],[10]	$ 935,360	[5],[6],[11]
Percentage of investment portfolio		0.31%	[2],[10]	0.42%	[5],[6],[11]
Basis spread on variable rate		4.00%	[1],[2],[10]	4.00%	[4],[5],[6],[11]
Investment, Identifier [Axis]: Potomac Energy Center, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.61% Due 11/12/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Potomac Energy Center LLC Member
Interest Rate	[4],[5],[6],[14]			11.61%
Maturity Date	[5],[6],[14]			Nov. 12, 2026
Par Amount/ Units	[5],[6],[7],[14]			$ 12,513,956
Amortized Cost	[5],[6],[14]			11,764,326
Fair Value	[5],[6],[14]			$ 11,811,458
Percentage of investment portfolio	[5],[6],[14]			5.33%
Basis spread on variable rate	[4],[5],[6],[14]			6.00%
Investment, Identifier [Axis]: Pretium Packaging,LLC First and Second Lien Debt SOFR Spread 4.60% Interest Rate 9.99% Due 10/02/2028
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Pretium Packaging, LLC [Member]
Interest Rate	[4],[5],[6]			9.99%
Maturity Date	[5],[6]			Oct. 02, 2028
Par Amount/ Units	[5],[6],[7]			$ 1,860,170
Amortized Cost	[5],[6]			1,656,502
Fair Value	[5],[6]			$ 1,444,738
Percentage of investment portfolio	[5],[6]			0.65%
Basis spread on variable rate	[4],[5],[6]			4.60%
Investment, Identifier [Axis]: Pretium Packaging,LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.39% Due 10/02/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pretium Packaging, LLC [Member]
Interest Rate	[4],[5],[6],[11]			10.39%
Maturity Date	[5],[6],[11]			Oct. 02, 2028
Par Amount/ Units	[5],[6],[7],[11]			$ 498,028
Amortized Cost	[5],[6],[11]			485,969
Fair Value	[5],[6],[11]			$ 487,136
Percentage of investment portfolio	[5],[6],[11]			0.22%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Professional Services First and Second Lien
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Professional Services [Member]
Investment, Identifier [Axis]: Professional Services First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Professional Services [Member]
Amortized Cost		$ 22,877,943	[2],[9]	$ 22,248,545	[5],[6]
Fair Value		$ 22,958,816	[2],[9]	$ 3,954,000	[5],[6]
Percentage of investment portfolio		9.69%	[2],[9]	10.07%	[5],[6]
Investment, Identifier [Axis]: RSC Acquisition, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.30% Due 11/1/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		RSC Acquisition Inc Member
Interest Rate	[1],[2],[8],[12]	11.30%
Maturity Date	[2],[8],[12]	Nov. 01, 2029
Par Amount/ Units	[2],[3],[8],[12]	$ 1,996,889
Amortized Cost	[2],[8],[12]	845,662
Fair Value	[2],[8],[12]	$ 889,731
Percentage of investment portfolio	[2],[8],[12]	0.38%
Basis spread on variable rate	[1],[2],[8],[12]	6.00%
Investment, Identifier [Axis]: RSC Acquisition, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.35% Due 11/1/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				RSC Acquisition Inc Member
Interest Rate	[4],[5],[6],[14]			11.35%
Maturity Date	[5],[6],[14]			Nov. 01, 2029
Par Amount/ Units	[5],[6],[7],[14]			$ 250,000
Amortized Cost	[5],[6],[14]			246,576
Fair Value	[5],[6],[14]			$ 247,500
Percentage of investment portfolio	[5],[6],[14]			0.11%
Basis spread on variable rate	[4],[5],[6],[14]			6.00%
Investment, Identifier [Axis]: RSC Acquisition, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.39% Due 11/1/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				RSC Acquisition Inc Member
Interest Rate	[4],[5],[6],[13],[14]			11.39%
Maturity Date	[5],[6],[13],[14]			Nov. 01, 2029
Par Amount/ Units	[5],[6],[7],[13],[14]			$ 1,750,000
Amortized Cost	[5],[6],[13],[14]			88,311
Fair Value	[5],[6],[13],[14]			$ 93,928
Percentage of investment portfolio	[5],[6],[13],[14]			0.04%
Basis spread on variable rate	[4],[5],[6],[13],[14]			6.00%
Investment, Identifier [Axis]: Ranger Holdco Spe LLC First and Second Lien Debt PIK 15.00% Interest Rate 15.00% Due 8/8/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Ranger Holdco Spe LLC Member
Interest Rate	[4],[5],[6],[14]			15.00%
Maturity Date	[5],[6],[14]			Aug. 08, 2028
Par Amount/ Units	[5],[6],[7],[14]			$ 17,775,581
Amortized Cost	[5],[6],[14]			16,498,048
Fair Value	[5],[6],[14]			$ 19,050,076
Percentage of investment portfolio	[5],[6],[14]			8.60%
Reference rate, PIK	[4],[5],[6],[14]			15.00%
Investment, Identifier [Axis]: Ranger Holdco Spe LLC First and Second Lien Debt SOFR Spread 15.00% Interest Rate 15% Due 8/8/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Ranger Holdco Spe LLC Member
Interest Rate	[1],[2],[8]	15.00%
Maturity Date	[2],[8]	Aug. 08, 2028
Par Amount/ Units	[2],[3],[8]	$ 18,456,979
Amortized Cost	[2],[8]	17,293,298
Fair Value	[2],[8]	$ 19,803,415
Percentage of investment portfolio	[2],[8]	8.36%
Basis spread on variable rate	[1],[2],[8]	15.00%
Investment, Identifier [Axis]: Ratriot Container Corp First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.21% Due 3/20/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pet Vet Care Centers L L C [Member]
Interest Rate	[4],[5],[6],[11],[14]			9.21%
Maturity Date	[5],[6],[11],[14]			Mar. 20, 2025
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 2,973,712
Amortized Cost	[5],[6],[11],[14]			2,821,296
Fair Value	[5],[6],[11],[14]			$ 2,842,988
Percentage of investment portfolio	[5],[6],[11],[14]			1.28%
Investment, Identifier [Axis]: Recess Holdings, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.39% Due 3/29/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Recess Holdings Inc Member
Interest Rate	[4],[5],[6],[11],[14]			9.39%
Maturity Date	[5],[6],[11],[14]			Mar. 29, 2027
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 1,995,000
Amortized Cost	[5],[6],[11],[14]			1,976,689
Fair Value	[5],[6],[11],[14]			$ 2,004,975
Percentage of investment portfolio	[5],[6],[11],[14]			0.90%
Basis spread on variable rate	[4],[5],[6],[11],[14]			4.00%
Investment, Identifier [Axis]: Recess Holdings, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.84% Due 3/29/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Recess Holdings Inc Member
Interest Rate	[1],[2],[8],[9],[10]	9.84%
Maturity Date	[2],[8],[9],[10]	Mar. 29, 2027
Par Amount/ Units	[2],[3],[8],[9],[10]	$ 3,000,000
Amortized Cost	[2],[8],[9],[10]	2,955,574
Fair Value	[2],[8],[9],[10]	$ 3,009,390
Percentage of investment portfolio	[2],[8],[9],[10]	1.27%
Basis spread on variable rate	[1],[2],[8],[9],[10]	4.00%
Investment, Identifier [Axis]: RelaDyne Inc First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.61% Due 12/22/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pet Vet Care Centers L L C [Member]
Interest Rate	[4],[5],[6],[11],[13],[14]			9.61%
Maturity Date	[5],[6],[11],[13],[14]			Dec. 22, 2028
Par Amount/ Units	[5],[6],[7],[11],[13],[14]			$ 1,984,848
Amortized Cost	[5],[6],[11],[13],[14]			1,919,948
Fair Value	[5],[6],[11],[13],[14]			$ 1,973,694
Percentage of investment portfolio	[5],[6],[11],[13],[14]			0.89%
Basis spread on variable rate	[4]			4.25%
Investment, Identifier [Axis]: RelaDyne Inc First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 12/22/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Pet Vet Care Centers L L C [Member]
Interest Rate	[4],[5],[6],[11],[13],[14]			10.36%
Maturity Date	[5],[6],[11],[13],[14]			Dec. 22, 2028
Par Amount/ Units	[5],[6],[7],[11],[13],[14]			$ 1,990,000
Amortized Cost	[5],[6],[11],[13],[14]			1,899,814
Fair Value	[5],[6],[11],[13],[14]			$ 1,985,025
Percentage of investment portfolio	[5],[6],[11],[13],[14]			0.90%
Basis spread on variable rate	[4]			5.00%
Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.58% Due 12/22/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Rela Dyne Inc Member
Interest Rate	[2],[9],[10]	9.58%
Maturity Date	[2],[9],[10]	Dec. 22, 2028
Par Amount/ Units	[2],[9],[10]	$ 1,979,798
Amortized Cost	[2],[9],[10]	1,917,617
Fair Value	[2],[9],[10]	$ 1,979,798
Percentage of investment portfolio	[2],[9],[10]	0.84%
Basis spread on variable rate	[2],[9],[10]	4.25%
Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 12/22/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Rela Dyne Inc Member
Interest Rate	[2],[9],[10]	10.33%
Maturity Date	[2],[9],[10]	Dec. 22, 2028
Par Amount/ Units	[2],[9],[10]	$ 1,990,000
Amortized Cost	[2],[9],[10]	1,903,281
Fair Value	[2],[9],[10]	$ 1,992,488
Percentage of investment portfolio	[2],[9],[10]	0.84%
Basis spread on variable rate	[2],[9],[10]	5.00%
Investment, Identifier [Axis]: Renaissance Holding Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.11% Due 4/5/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Renaissance Holding Corp Member
Interest Rate	[4],[5],[6],[11]			10.11%
Maturity Date	[5],[6],[11]			Apr. 05, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 4,920,617
Amortized Cost	[5],[6],[11]			4,796,646
Fair Value	[5],[6],[11]			$ 4,932,230
Percentage of investment portfolio	[5],[6],[11]			2.23%
Basis spread on variable rate	[4],[5],[6],[11]			4.75%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Due 11/14/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Ryan L L C [Member]
Maturity Date	[5],[6],[13]			Nov. 14, 2030
Par Amount/ Units	[5],[6],[7],[13]			$ 190,476
Fair Value	[5],[6],[13]			$ 417
Percentage of investment portfolio	[5],[6],[13]			0.00%
Basis spread on variable rate	[4],[5],[6],[13]			4.50%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 0% Due 11/14/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Ryan L L C [Member]
Interest Rate	[1],[2],[12]	0.00%
Maturity Date	[2],[12]	Nov. 14, 2030
Par Amount/ Units	[2],[3],[12]	$ 190,476
Fair Value	[2],[12]	$ 835
Percentage of investment portfolio	[2],[12]	0.00%
Basis spread on variable rate	[1],[2],[12]	4.50%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.83% Due 11/14/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Ryan L L C [Member]
Interest Rate	[1],[2],[12]	9.83%
Maturity Date	[2],[12]	Nov. 14, 2030
Par Amount/ Units	[2],[3],[12]	$ 1,809,524
Amortized Cost	[2],[12]	1,774,724
Fair Value	[2],[12]	$ 1,817,450
Percentage of investment portfolio	[2],[12]	0.77%
Basis spread on variable rate	[1],[2],[12]	4.50%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.86% Due 11/14/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Ryan L L C [Member]
Interest Rate	[4],[5],[6]			9.86%
Maturity Date	[5],[6]			Nov. 14, 2030
Par Amount/ Units	[5],[6],[7]			$ 1,809,524
Amortized Cost	[5],[6]			1,773,798
Fair Value	[5],[6]			$ 1,813,487
Percentage of investment portfolio	[5],[6]			0.82%
Basis spread on variable rate	[4],[5],[6]			4.50%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.69% Due 8/24/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Sales Performance International L L C [Member]
Interest Rate	[4],[5],[6],[11],[13],[14]			11.69%
Maturity Date	[5],[6],[11],[13],[14]			Aug. 24, 2028
Par Amount/ Units	[5],[6],[7],[11],[13],[14]			$ 3,030,303
Amortized Cost	[5],[6],[11],[13],[14]			1,274,596
Fair Value	[5],[6],[11],[13],[14]			$ 1,274,596
Percentage of investment portfolio	[5],[6],[11],[13],[14]			0.58%
Basis spread on variable rate	[4],[5],[6],[11],[13],[14]			6.50%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.82% Due 8/24/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Sales Performance International L L C [Member]
Interest Rate	[2],[8],[9],[10]	11.82%
Maturity Date	[2],[8],[9],[10]	Aug. 24, 2028
Par Amount/ Units	[2],[8],[9],[10]	$ 16,778,788
Amortized Cost	[2],[8],[9],[10]	16,464,205
Fair Value	[2],[8],[9],[10]	$ 16,464,186
Percentage of investment portfolio	[2],[8],[9],[10]	6.95%
Basis spread on variable rate	[2],[8],[9],[10]	6.50%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.83% Due 8/24/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Sales Performance International L L C [Member]
Interest Rate	[2],[8],[9],[10],[12]	11.82%
Maturity Date	[2],[8],[9],[10],[12]	Aug. 24, 2028
Par Amount/ Units	[2],[8],[9],[10],[12]	$ 3,030,303
Amortized Cost	[2],[8],[9],[10],[12]	671,686
Fair Value	[2],[8],[9],[10],[12]	$ 670,455
Percentage of investment portfolio	[2],[8],[9],[10],[12]	0.28%
Basis spread on variable rate	[2],[8],[9],[10],[12]	6.50%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.88% Due 8/24/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Sales Performance International L L C [Member]
Interest Rate	[4],[5],[6],[11],[14]			11.88%
Maturity Date	[5],[6],[11],[14]			Aug. 24, 2028
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 16,884,848
Amortized Cost	[5],[6],[11],[14]			16,554,921
Fair Value	[5],[6],[11],[14]			$ 16,554,921
Percentage of investment portfolio	[5],[6],[11],[14]			7.47%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.50%
Investment, Identifier [Axis]: Simon & Schuster Inc.First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.39% Due 10/30/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Simon & Schuster Inc. [Member]
Interest Rate	[4],[5],[6]			9.39%
Maturity Date	[5],[6]			Oct. 30, 2030
Par Amount/ Units	[5],[6],[7]			$ 2,000,000
Amortized Cost	[5],[6]			1,987,774
Fair Value	[5],[6]			$ 2,005,000
Percentage of investment portfolio	[5],[6]			0.90%
Basis spread on variable rate	[4],[5],[6]			4.00%
Investment, Identifier [Axis]: Software First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Software [Member]		Software [Member]
Amortized Cost		$ 2,285,863	[2],[9]	$ 12,006,288	[5],[6]
Fair Value		$ 2,344,032	[2],[9]	$ 12,245,678	[5],[6]
Percentage of investment portfolio		0.99%	[2],[9]	5.52%	[5],[6]
Investment, Identifier [Axis]: Southern Veterinary Partners, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.44% Due 10/5/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Southern Veterinary Partners LLC Member
Interest Rate	[1],[2],[10]	9.44%
Maturity Date	[2],[10]	Oct. 05, 2027
Par Amount/ Units	[2],[3],[10]	$ 1,488,462
Amortized Cost	[2],[10]	1,481,857
Fair Value	[2],[10]	$ 1,487,717
Percentage of investment portfolio	[2],[10]	0.63%
Basis spread on variable rate	[1],[2],[10]	4.00%
Investment, Identifier [Axis]: Southern Veterinary Partners, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.47% Due 10/5/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Southern Veterinary Partners LLC Member
Interest Rate	[4],[5],[6],[11]			9.47%
Maturity Date	[5],[6],[11]			Oct. 05, 2027
Par Amount/ Units	[5],[6],[7],[11]			$ 1,492,308
Amortized Cost	[5],[6],[11]			1,485,297
Fair Value	[5],[6],[11]			$ 1,485,965
Percentage of investment portfolio	[5],[6],[11]			0.67%
Basis spread on variable rate	[4],[5],[6],[11]			4.00%
Investment, Identifier [Axis]: Spring Education Group, Inc First and Second Lien Debt SOFR Spread 9.85% Due 10/4/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Spring Education Group Inc Member
Investment, Identifier [Axis]: Spring Education Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.81% Due 10/4/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Spring Education Group Inc Member
Interest Rate	[1],[2],[9],[10]	9.81%
Maturity Date	[2],[9],[10]	Oct. 04, 2030
Par Amount/ Units	[2],[3],[9],[10]	$ 3,990,000
Amortized Cost	[2],[9],[10]	3,942,180
Fair Value	[2],[9],[10]	$ 4,003,965
Percentage of investment portfolio	[2],[9],[10]	1.69%
Basis spread on variable rate	[1],[10]	4.50%
Investment, Identifier [Axis]: Spring Education Group, Inc. First and Second Lien Debt SOFR Spread 9.85% Due 10/4/2030
Investments [Abstract]
Interest Rate	[4],[5],[6],[11]			9.85%
Maturity Date	[5],[6],[11]			Oct. 04, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 4,000,000
Amortized Cost	[5],[6],[11]			3,950,776
Fair Value	[5],[6],[11]			$ 4,009,000
Percentage of investment portfolio	[5],[6],[11]			1.81%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: St. Joseph Energy Center, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.71% Due 10/05/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				St Joseph Energy Center LLC Member
Interest Rate	[4],[5],[6],[11],[14]			9.71%
Maturity Date	[5],[6],[11],[14]			Oct. 05, 2028
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 2,966,613
Amortized Cost	[5],[6],[11],[14]			2,881,518
Fair Value	[5],[6],[11],[14]			$ 2,914,697
Percentage of investment portfolio	[5],[6],[11],[14]			1.32%
Basis spread on variable rate	[4],[5],[6],[11],[14]			4.25%
Investment, Identifier [Axis]: Staples, Inc. First and Second Lien Debt LIBOR Spread 4.50% Interest Rate 9.96% Due 9/12/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Staples Inc Member
Interest Rate	[4],[5],[6]			9.96%
Maturity Date	[5],[6]			Sep. 12, 2024
Par Amount/ Units	[5],[6],[7]			$ 997,389
Amortized Cost	[5],[6]			993,762
Fair Value	[5],[6]			$ 996,142
Percentage of investment portfolio	[5],[6]			0.45%
Basis spread on variable rate	[4],[5],[6]			4.50%
Investment, Identifier [Axis]: Staples, Inc. First and Second Lien Debt LIBOR Spread 5.50% Interest Rate 10.46% Due 4/16/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Staples Inc Member
Interest Rate	[4],[5],[6],[11]			10.46%
Maturity Date	[5],[6],[11]			Apr. 16, 2026
Par Amount/ Units	[5],[6],[7],[11]			$ 994,792
Amortized Cost	[5],[6],[11]			948,840
Fair Value	[5],[6],[11]			$ 939,700
Percentage of investment portfolio	[5],[6],[11]			0.42%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Star Parent, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.31% Due 9/27/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Star Parent Inc Member
Interest Rate	[1],[2],[9],[10]	9.31%
Maturity Date	[2],[9],[10]	Sep. 27, 2030
Par Amount/ Units	[2],[3],[9],[10]	$ 3,000,000
Amortized Cost	[2],[9],[10]	2,957,499
Fair Value	[2],[9],[10]	$ 2,980,140
Percentage of investment portfolio	[2],[9],[10]	1.26%
Basis spread on variable rate	[1],[2],[9],[10]	4.00%
Investment, Identifier [Axis]: Star Parent, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.35% Due 9/27/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Star Parent Inc Member
Interest Rate	[4],[5],[6],[11]			9.35%
Maturity Date	[5],[6],[11]			Sep. 27, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 5,000,000
Amortized Cost	[5],[6],[11]			4,927,218
Fair Value	[5],[6],[11]			$ 4,935,400
Percentage of investment portfolio	[5],[6],[11]			2.23%
Basis spread on variable rate	[4],[5],[6],[11]			4.00%
Investment, Identifier [Axis]: State Street Institutional Money Market Fund
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		State Street Institutional Money Market Fund Member		State Street Institutional Money Market Fund Member
Amortized Cost		$ 81,677,413	[2],[22]	$ 69,473,744	[5],[21]
Fair Value		$ 81,677,413	[2],[22]	$ 69,473,744	[5],[21]
Percentage of investment portfolio		34.50%	[2],[22]	31.35%	[5],[21]
Investment, Identifier [Axis]: TGG TS Acquisition Company First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.97% Due 12/14/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				TGGTS Acquisition Company Member
Interest Rate	[4],[5],[6],[11]			11.97%
Maturity Date	[5],[6],[11]			Dec. 14, 2025
Par Amount/ Units	[5],[6],[7],[11]			$ 1,163,697
Amortized Cost	[5],[6],[11]			1,162,703
Fair Value	[5],[6],[11]			$ 1,114,240
Percentage of investment portfolio	[5],[6],[11]			0.50%
Basis spread on variable rate	[4],[5],[6],[11]			6.50%
Investment, Identifier [Axis]: Tank Holding Corp Two. First and Second Lien Debt SOFR Spread 6.00%, Interest Rate 11.46% Due 3/31/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Tank Holding Corp Member
Interest Rate	[4],[5],[6],[11],[13],[14]			11.46%
Maturity Date	[5],[6],[11],[13],[14]			Mar. 31, 2028
Par Amount/ Units	[5],[6],[7],[11],[13],[14]			$ 1,635,981
Amortized Cost	[5],[6],[11],[13],[14]			530,856
Fair Value	[5],[6],[11],[13],[14]			$ 480,337
Percentage of investment portfolio	[5],[6],[11],[13],[14]			0.22%
Basis spread on variable rate	[4],[5],[6],[11],[13],[14]			6.00%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 5.75% Interest Rate 11.18% Due 3/31/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Tank Holding Corp Member
Interest Rate	[1],[2],[8],[9],[10]	11.18%
Maturity Date	[2],[8],[9],[10]	Mar. 31, 2028
Par Amount/ Units	[2],[3],[8],[9],[10]	$ 992,424
Amortized Cost	[2],[8],[9],[10]	965,960
Fair Value	[2],[8],[9],[10]	$ 976,923
Percentage of investment portfolio	[2],[8],[9],[10]	0.41%
Basis spread on variable rate	[1],[8],[10]	5.75%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 5.75% Interest Rate 11.21% Due 3/31/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Tank Holding Corp Member
Interest Rate	[4],[5],[6],[11],[14]			11.21%
Maturity Date	[5],[6],[11],[14]			Mar. 31, 2028
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 994,950
Amortized Cost	[5],[6],[11],[14]			967,159
Fair Value	[5],[6],[11],[14]			$ 950,177
Percentage of investment portfolio	[5],[6],[11],[14]			0.43%
Basis spread on variable rate	[4],[5],[6],[11],[14]			5.75%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.43% Due 3/31/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Tank Holding Corp Member
Interest Rate	[1],[2],[8],[9],[10]	11.43%
Maturity Date	[2],[8],[9],[10]	Mar. 31, 2028
Par Amount/ Units	[2],[3],[8],[9],[10]	$ 3,782,301
Amortized Cost	[2],[8],[9],[10]	3,696,033
Fair Value	[2],[8],[9],[10]	$ 3,720,838
Percentage of investment portfolio	[2],[8],[9],[10]	1.57%
Basis spread on variable rate	[1],[8],[10]	6.00%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.43% Due 3/31/2028 One
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Tank Holding Corp Member
Interest Rate	[1],[2],[8],[9],[10],[12]	11.43%
Maturity Date	[2],[8],[9],[10],[12]	Mar. 31, 2028
Par Amount/ Units	[2],[3],[8],[9],[10],[12]	$ 1,634,139
Amortized Cost	[2],[8],[9],[10],[12]	713,313
Fair Value	[2],[8],[9],[10],[12]	$ 707,037
Percentage of investment portfolio	[2],[8],[9],[10],[12]	0.30%
Basis spread on variable rate	[1],[8],[10],[12]	6.00%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.46% Due 3/31/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Tank Holding Corp Member
Interest Rate	[4],[5],[6],[11],[14]			11.46%
Maturity Date	[5],[6],[11],[14]			Mar. 31, 2028
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 3,791,852
Amortized Cost	[5],[6],[11],[14]			3,701,274
Fair Value	[5],[6],[11],[14]			$ 3,630,698
Percentage of investment portfolio	[5],[6],[11],[14]			1.64%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.00%
Investment, Identifier [Axis]: Team Services Group First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.58% Due 12/20/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Team Services Group Member
Interest Rate	[1],[2],[10]	10.58%
Maturity Date	[2],[10]	Dec. 20, 2027
Par Amount/ Units	[2],[3],[10]	$ 1,983,467
Amortized Cost	[2],[10]	1,962,214
Fair Value	[2],[10]	$ 1,978,508
Percentage of investment portfolio	[2],[10]	0.84%
Basis spread on variable rate	[1],[2],[10]	5.00%
Investment, Identifier [Axis]: Team Services Group First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.88% Due 12/20/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Team Services Group Member
Interest Rate	[4],[5],[6],[11]			10.88%
Maturity Date	[5],[6],[11]			Dec. 20, 2027
Par Amount/ Units	[5],[6],[7],[11]			$ 988,579
Amortized Cost	[5],[6],[11]			971,239
Fair Value	[5],[6],[11]			$ 979,316
Percentage of investment portfolio	[5],[6],[11]			0.44%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Teneo Holdings LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.08% Due 3/13/2031
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Teneo Holdings LLC [Member]
Interest Rate	[2],[9]	10.08%
Maturity Date	[2],[9]	Mar. 13, 2031
Par Amount/ Units	[2],[9]	$ 1,333,333
Amortized Cost	[2],[9]	1,320,000
Fair Value	[2],[9]	$ 1,335,000
Percentage of investment portfolio	[2],[9]	0.56%
Basis spread on variable rate	[2],[9]	4.75%
Investment, Identifier [Axis]: Textiles, Apparel & Luxury Goods First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Textiles, Apparel And Luxury Goods [Member]		Textiles, Apparel And Luxury Goods [Member]
Amortized Cost		$ 11,238,859	[2],[9]	$ 11,320,880	[5],[6]
Fair Value		$ 11,310,530	[2],[9]	$ 11,324,585	[5],[6]
Percentage of investment portfolio		4.78%	[2],[9]	5.11%	[5],[6]
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Due 10/24/2030
Investments [Abstract]
Maturity Date	[5],[6],[13],[14]			Oct. 24, 2030
Par Amount/ Units	[5],[6],[7],[13],[14]			$ 130,435
Amortized Cost	[5],[6],[13],[14]			(949)
Fair Value	[5],[6],[13],[14]			$ 326
Percentage of investment portfolio	[5],[6],[13],[14]			0.00%
Basis spread on variable rate	[4],[5],[6],[13],[14]			4.50%
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 0.00% Due 10/24/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		The Action Environmental Group, Inc. [Member]
Interest Rate	[1],[2],[8],[12]	0.00%
Maturity Date	[2],[8],[12]	Oct. 24, 2030
Par Amount/ Units	[2],[3],[8],[12]	$ 130,435
Amortized Cost	[2],[8],[12]	$ 915
Percentage of investment portfolio	[2],[8],[12]	0.00%
Basis spread on variable rate	[1],[2],[8],[12]	4.50%
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.82% Due 10/24/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		The Action Environmental Group, Inc. [Member]
Interest Rate	[1],[2],[8]	9.82%
Maturity Date	[2],[8]	Oct. 24, 2030
Par Amount/ Units	[2],[3],[8]	$ 869,565
Amortized Cost	[2],[8]	857,224
Fair Value	[2],[8]	$ 869,565
Percentage of investment portfolio	[2],[8]	0.37%
Basis spread on variable rate	[1],[2],[8]	4.50%
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.88% Due 10/24/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				The Action Environmental Group, Inc. [Member]
Interest Rate	[4],[5],[6],[14]			9.88%
Maturity Date	[5],[6],[14]			Oct. 24, 2030
Par Amount/ Units	[5],[6],[7],[14]			$ 869,565
Amortized Cost	[5],[6],[14]			856,763
Fair Value	[5],[6],[14]			$ 871,739
Percentage of investment portfolio	[5],[6],[14]			0.39%
Basis spread on variable rate	[4],[5],[6],[14]			4.50%
Investment, Identifier [Axis]: Total Trading Companies & Distributors First and Second Lien Debt
Investments [Abstract]
Amortized Cost	[5],[6]			$ 32,973,669
Fair Value	[5],[6]			$ 33,575,932
Percentage of investment portfolio	[5],[6]			15.15%
Investment, Identifier [Axis]: TouchTunes Interactive Networks, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.35% Due 4/2/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Touch Tunes Interactive Networks Inc Member
Interest Rate	[4],[5],[6],[11]			10.35%
Maturity Date	[5],[6],[11]			Apr. 02, 2029
Par Amount/ Units	[5],[6],[7],[11]			$ 2,230,496
Amortized Cost	[5],[6],[11]			2,228,284
Fair Value	[5],[6],[11]			$ 2,208,748
Percentage of investment portfolio	[5],[6],[11]			1.00%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: TouchTunes Interactive Networks, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 4/2/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Touch Tunes Interactive Networks Inc Member
Interest Rate	[1],[2],[10]	10.36%
Maturity Date	[2],[10]	Apr. 02, 2029
Par Amount/ Units	[2],[3],[10]	$ 2,224,808
Amortized Cost	[2],[10]	2,222,684
Fair Value	[2],[10]	$ 2,231,305
Percentage of investment portfolio	[2],[10]	0.94%
Basis spread on variable rate	[1],[2],[10]	5.00%
Investment, Identifier [Axis]: Trading Companies & Distributors First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]		Trading Companies And distributors [Member]
Amortized Cost	[2],[9]	$ 32,718,151
Fair Value	[2],[9]	$ 33,477,814
Percentage of investment portfolio	[2],[9]	14.14%
Investment, Identifier [Axis]: Trading Companies & Distributors First and Second Lien Debt
Investments [Abstract]
Investment, Type [Extensible Enumeration]				Trading Companies And distributors [Member]
Investment, Identifier [Axis]: Trulite Holding Corp First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 8/1/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Trulite Holding Corp [Member]
Interest Rate	[1],[2],[8],[9]	11.33%
Maturity Date	[2],[8],[9]	Aug. 01, 2030
Par Amount/ Units	[2],[3],[8],[9]	$ 3,000,000
Amortized Cost	[2],[8],[9]	2,940,687
Fair Value	[2],[8],[9]	$ 2,988,750
Percentage of investment portfolio	[2],[8],[9]	1.26%
Basis spread on variable rate	[1],[2],[8],[9]	6.00%
Investment, Identifier [Axis]: USA Debusk LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.93% Due 9/8/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		USA Debusk LLC Member
Interest Rate	[1],[2],[8],[10]	11.93%
Maturity Date	[2],[8],[10]	Sep. 08, 2026
Par Amount/ Units	[2],[3],[8],[10]	$ 9,950,000
Amortized Cost	[2],[8],[10]	9,789,462
Fair Value	[2],[8],[10]	$ 10,136,563
Percentage of investment portfolio	[2],[8],[10]	4.28%
Basis spread on variable rate	[1],[2],[8],[10]	6.50%
Investment, Identifier [Axis]: USA Debusk LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.93% Due 9/8/2026 One
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		USA Debusk LLC Member
Interest Rate	[1],[2],[8],[10]	11.93%
Maturity Date	[2],[8],[10]	Sep. 08, 2026
Par Amount/ Units	[2],[3],[8],[10]	$ 2,992,500
Amortized Cost	[2],[8],[10]	2,939,369
Fair Value	[2],[8],[10]	$ 3,048,609
Percentage of investment portfolio	[2],[8],[10]	1.29%
Basis spread on variable rate	[1],[2],[8],[10]	6.50%
Investment, Identifier [Axis]: USA Debusk LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.96% Due 9/8/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				USA Debusk LLC Member
Interest Rate	[4],[5],[6],[11],[14]			11.96%
Maturity Date	[5],[6],[11],[14]			Sep. 08, 2026
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 3,000,000
Amortized Cost	[5],[6],[11],[14]			2,940,662
Fair Value	[5],[6],[11],[14]			$ 2,996,250
Percentage of investment portfolio	[5],[6],[11],[14]			1.35%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.50%
Investment, Identifier [Axis]: USA Debusk LLC Two, First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.96% Due 9/8/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				USA Debusk LLC Member
Interest Rate	[4],[5],[6],[11],[14]			11.96%
Maturity Date	[5],[6],[11],[14]			Sep. 08, 2026
Par Amount/ Units	[5],[6],[7],[11],[14]			$ 9,975,000
Amortized Cost	[5],[6],[11],[14]			9,800,216
Fair Value	[5],[6],[11],[14]			$ 9,962,531
Percentage of investment portfolio	[5],[6],[11],[14]			4.50%
Basis spread on variable rate	[4],[5],[6],[11],[14]			6.50%
Investment, Identifier [Axis]: Ultimate Software Group Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.99% Due 5/4/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Ultimate Software Group Inc Member
Interest Rate	[4],[5],[6],[11]			9.99%
Maturity Date	[5],[6],[11]			May 04, 2026
Par Amount/ Units	[5],[6],[7],[11]			$ 1,990,000
Amortized Cost	[5],[6],[11]			1,948,747
Fair Value	[5],[6],[11]			$ 1,994,975
Percentage of investment portfolio	[5],[6],[11]			0.90%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%
Investment, Identifier [Axis]: Varsity Brands, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 12/15/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Varsity Brands Inc Member
Interest Rate	[1],[2],[10]	10.44%
Maturity Date	[2],[10]	Dec. 15, 2026
Par Amount/ Units	[2],[3],[10]	$ 1,977,475
Amortized Cost	[2],[10]	1,896,293
Fair Value	[2],[10]	$ 1,984,890
Percentage of investment portfolio	[2],[10]	0.84%
Basis spread on variable rate	[1],[2],[10]	5.00%
Investment, Identifier [Axis]: Varsity Brands, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.47% Due 12/15/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Varsity Brands Inc Member
Interest Rate	[4],[5],[6],[11]			10.47%
Maturity Date	[5],[6],[11]			Dec. 15, 2026
Par Amount/ Units	[5],[6],[7],[11]			$ 1,982,481
Amortized Cost	[5],[6],[11]			1,894,763
Fair Value	[5],[6],[11]			$ 1,968,445
Percentage of investment portfolio	[5],[6],[11]			0.89%
Basis spread on variable rate	[4],[5],[6],[11]			5.00%
Investment, Identifier [Axis]: Voltagrid LLC First and Second Lien Debt SOFR Spread 6.50% Due 9/1/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Voltagrid L L C [Member]
Maturity Date	[2],[8],[9]	Sep. 01, 2025
Par Amount/ Units	[2],[3],[8],[9]	$ 3,453,750
Amortized Cost	[2],[8],[9]	65,146
Fair Value	[2],[8],[9]	$ (132,451)
Percentage of investment portfolio	[2],[8],[9]	(0.06%)
Basis spread on variable rate	[1],[8]	6.50%
Investment, Identifier [Axis]: Voltagrid LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.94% Due 3/1/2029
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Voltagrid L L C [Member]
Interest Rate	[1],[2],[8],[9]	11.91%
Maturity Date	[2],[8],[9]	Mar. 01, 2029
Par Amount/ Units	[2],[3],[8],[9]	$ 34,451,156
Amortized Cost	[2],[8],[9]	33,090,518
Fair Value	[2],[8],[9]	$ 33,129,954
Percentage of investment portfolio	[2],[8],[9]	13.99%
Basis spread on variable rate	[1],[8]	6.50%
Investment, Identifier [Axis]: Wellness Merger Sub, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.57% Due 6/30/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		Wellness Merger Sub Inc Member
Interest Rate	[1],[2],[10]	11.57%
Maturity Date	[2],[10]	Jun. 30, 2026
Par Amount/ Units	[2],[3],[10]	$ 3,875,000
Amortized Cost	[2],[10]	3,696,022
Fair Value	[2],[10]	$ 3,855,625
Percentage of investment portfolio	[2],[10]	1.63%
Basis spread on variable rate	[1],[2],[10]	6.00%
Investment, Identifier [Axis]: Wellness Merger Sub, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.61% Due 6/30/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Wellness Merger Sub Inc Member
Interest Rate	[4],[5],[6],[11]			11.61%
Maturity Date	[5],[6],[11]			Jun. 30, 2026
Par Amount/ Units	[5],[6],[7],[11]			$ 3,925,000
Amortized Cost	[5],[6],[11]			3,726,426
Fair Value	[5],[6],[11]			$ 3,840,769
Percentage of investment portfolio	[5],[6],[11]			1.73%
Basis spread on variable rate	[4],[5],[6],[11]			6.00%
Investment, Identifier [Axis]: Windsor Holdings III, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.84% Due 8/1/2030
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]				Windsor Holdings IIILLC Member
Interest Rate	[4],[5],[6],[11]			9.84%
Maturity Date	[5],[6],[11]			Aug. 01, 2030
Par Amount/ Units	[5],[6],[7],[11]			$ 1,995,000
Amortized Cost	[5],[6],[11]			1,980,625
Fair Value	[5],[6],[11]			$ 2,005,593
Percentage of investment portfolio	[5],[6],[11]			0.90%
Basis spread on variable rate	[4],[5],[6],[11]			4.50%

[1] Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR (“L”), SOFR including SOFR adjustment, if any, (“S”), SONIA (“SN”), or alternate base rate (commonly based on the U.S. Prime Rate (“P”), unless otherwise noted) at the borrower’s option, which reset periodically based on the terms of the credit agreement and S loans are typically indexed to 6 month, 3 month or 1 month L or S rates. As of March 31, 2024, rates for the 6 month, 3 month and 1 month L are 5.65%, 5.56%, and 5.44%, respectively. As of March 31, 2024, 6 month, 3 month and 1 month S are 5.22%, 5.30% and 5.33%, respectively.

[2] Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.

[3] The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America U.S. GAAP.

[4] Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. PIK represents payment-in-kind interest that is accrued and recorded as interest income at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR (“L”), SOFR including SOFR adjustment, if any, (“S”), SONIA (“SN”), or alternate base rate (commonly based on the U.S. Prime Rate (“P”), unless otherwise noted) at the borrower’s option, which reset periodically based on the terms of the credit agreement and S loans are typically indexed to 6 month, 3 month or 1 month L or S rates. As of December 31, 2023, rates for the 6 month, 3 month and 1 month L are 5.59%, 5.59%, and 5.47%, respectively. As of December 31, 2023, 6 month, 3 month and 1 month S are 5.16%, 5.33% and 5.35%, respectively.

[5] Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.

[6] Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.

[7] The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America U.S. GAAP.

[8] Investments valued using unobservable inputs (Level 3). Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee, under the supervision of the Board, pursuant to the Company’s valuation policy. See Note 4, Investments and Fair Value Measurements, for details.

[9] Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.

[10] Investment is pledged as collateral for the Secured Credit Facility. See Note 5, Borrowings, for details.

[11] Investment is pledged as collateral for the Secured Credit Facility. See Note 5, Borrowings, for details.

[12] Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair values are the result of the commitment being valued below par. See Note 6, Commitments and Contingencies, for details.

[13] Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair values are the result of the commitment being valued below par. See Note 6, Commitments and Contingencies, for details.

[14] Investments valued using unobservable inputs (Level 3). Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee, under the supervision of the Board, pursuant to the Company’s valuation policy. See Note 4, Investments and Fair Value Measurements, for details.

[15] Position or portion thereof is unsettled as of March 31, 2024.

[16] Position or portion thereof unsettled as of December 31, 2023.

[17] The investment is not a qualifying asset under Section 55(a) of the 1940 Act. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2023, non-qualifying assets totaled 2.17% of the Company’s total assets.

[18] The issuer of this investment is domiciled in Canada.

[19] The issuer of this investment is domiciled in Canada.

[20] The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of March 31, 2024, non-qualifying assets totaled 1.58% of the Company’s total assets.

[21] The issuer of this investment is domiciled in Luxembourg.

[22] The annualized seven-day yield as of March 31, 2024 is 5.01%.

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Consolidated Schedule of Investments (Parenthetical)		3 Months Ended		12 Months Ended
		Mar. 31, 2024		Dec. 31, 2023
Investments [Abstract]
Percentage of net assets		170.93%		159.00%
Investment, Identifier [Axis]: ADMI Corp First and Second Lien Debt SOFR Spread 5.75% Interest Rate 11.08% Due 12/23/2027
Investments [Abstract]
Percentage of net assets	[1]	0.84%
Investment, Identifier [Axis]: AMCP Clean Acquisition Company, LLC First and Second Lien Debt SOFR Spread 4.40% Interest Rate 9.79% Due 6/16/2025
Investments [Abstract]
Percentage of net assets	[2],[3]			1.17%
Investment, Identifier [Axis]: AMCP Clean Acquisition Company, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 6/15/2028
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	0.42%
Investment, Identifier [Axis]: AQA Acquisition Holding, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.82% Due 3/3/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.36%
Investment, Identifier [Axis]: AQA Acquisition Holding, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.89% Due 3/3/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.39%
Investment, Identifier [Axis]: AVSC Holding Corp. First and Second Lien Debt SOFR Spread 3.00%/.25% PIK Interest Rate 8.95% Due 3/3/2025
Investments [Abstract]
Percentage of net assets	[1]	1.68%
Investment, Identifier [Axis]: AVSC Holding Corp. First and Second Lien Debt SOFR Spread 3.00%/.25% PIK Interest Rate 8.96% Due 3/3/2025
Investments [Abstract]
Percentage of net assets	[2],[3]			1.75%
Investment, Identifier [Axis]: Acrisure, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.83% Due 11/6/2030
Investments [Abstract]
Percentage of net assets	[1],[6]	2.10%
Investment, Identifier [Axis]: Acrisure, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.89% Due 11/6/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			2.25%
Investment, Identifier [Axis]: Aerospace & Defense First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1],[5]	8.27%
Investment, Identifier [Axis]: Air Freight & Logistics First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		2.05%	[1],[5]	2.16%	[2],[3]
Investment, Identifier [Axis]: American Auto Auction Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.46% Due 12/30/2027
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.83%
Investment, Identifier [Axis]: American Auto Auction Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.50% Due 12/30/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.88%
Investment, Identifier [Axis]: American Greetings Corporation First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 4/6/2028
Investments [Abstract]
Percentage of net assets	[1],[6]	0.62%
Investment, Identifier [Axis]: American Greetings Corporation First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.35% Due 4/06/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.67%
Investment, Identifier [Axis]: Amynta Agency Borrower Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.55% Due 2/28/2028
Investments [Abstract]
Percentage of net assets	[1],[6]	0.84%
Investment, Identifier [Axis]: Amynta Agency Borrower Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.61% Due 2/28/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.80%
Investment, Identifier [Axis]: Aramsco, Inc. First and Second Lien Debt SOFR Spread 4.75% Due 10/10/2030
Investments [Abstract]
Percentage of net assets		0.00%	[1],[5],[6],[8]	0.00%	[2],[3],[7],[9]
Investment, Identifier [Axis]: Aramsco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.10% Due 10/10/2030
Investments [Abstract]
Percentage of net assets		1.08%	[1],[5],[6]	1.15%	[2],[3],[7]
Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.32% Due 6/23/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.94%
Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.36% Due 6/23/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.63%
Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.86% Due 6/23/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[10]			0.45%
Investment, Identifier [Axis]: Arsenal AIC Parent LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.08% Due 8/30/2030
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.26%
Investment, Identifier [Axis]: Arsenal AIC Parent LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.86% Due 8/18/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.35%
Investment, Identifier [Axis]: Automobile Components First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		2.43%	[1],[5]	2.57%	[2],[3]
Investment, Identifier [Axis]: Automobiles First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			1.91%
Investment, Identifier [Axis]: BBB Industries LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.68% Due 7/25/2029
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.59%
Investment, Identifier [Axis]: BBB Industries LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.71% Due 7/25/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.68%
Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.11% Due 12/11/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.80%
Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.33% Due 12/11/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.68%
Investment, Identifier [Axis]: BP Loenbro Holdings Inc First and Second Lien Debt Due 2/1/2029
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	(0.01%)
Investment, Identifier [Axis]: BP Loenbro Holdings Inc First and Second Lien Debt Due 2/1/2029 One
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	(0.01%)
Investment, Identifier [Axis]: BP Loenbro Holdings Inc First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.57% Due 2/1/2029
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	6.80%
Investment, Identifier [Axis]: Biotechnology First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		1.26%	[1],[5]	2.23%	[2],[3]
Investment, Identifier [Axis]: Brand Industrial Services Inc First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.81% Due 8/1/2030
Investments [Abstract]
Percentage of net assets	[1],[6]	0.42%
Investment, Identifier [Axis]: Brand Industrial Services Inc First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.88% Due 8/1/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.89%
Investment, Identifier [Axis]: Building Products First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		4.29%	[1],[5]	1.68%	[2],[3]
Investment, Identifier [Axis]: Carriage Purchaser, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.72% Due 10/02/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.66%
Investment, Identifier [Axis]: Cash Equivalents
Investments [Abstract]
Percentage of net assets		34.50%	[1]	31.35%	[2]
Investment, Identifier [Axis]: Cassavant Holdings, LLC First and Second Lien Debt SOFR Spread 8.00%/7.00% PIK Interest Rate 15% Due 6/23/2028
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	8.27%
Investment, Identifier [Axis]: Champ Acquisition Corporation First and Second Lien Debt SOFR Spread 5.50% Interest Rate 11.06% Due 12/19/2025
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.62%
Investment, Identifier [Axis]: Champ Acquisition Corporation First and Second Lien Debt SOFR Spread 5.50% Interest Rate 11.11% Due 12/19/2025
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.67%
Investment, Identifier [Axis]: Charlotte Buyer, Inc. First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.57% Due 2/11/2028
Investments [Abstract]
Percentage of net assets	[1],[6]	1.04%
Investment, Identifier [Axis]: Charlotte Buyer, Inc. First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.61% Due 2/11/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.11%
Investment, Identifier [Axis]: Chemicals First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		2.76%	[1],[5]	4.05%	[2],[3]
Investment, Identifier [Axis]: Commercial Services & Supplies
Investments [Abstract]
Percentage of net assets		6.64%	[1],[5]	7.02%	[2],[3]
Investment, Identifier [Axis]: Commercial Services & Supplies Equity Investments
Investments [Abstract]
Percentage of net assets		6.64%	[1],[5]	7.02%	[2],[3]
Investment, Identifier [Axis]: Commercial Services & Supplies First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		15.60%	[1]	17.37%	[2],[3]
Investment, Identifier [Axis]: Containers, Packaging & Glass First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		2.28%	[1],[5]	3.16%	[2],[3]
Investment, Identifier [Axis]: Contruction and Engineering First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		12.94%	[1],[5]	6.63%	[2],[3]
Investment, Identifier [Axis]: Covetrus, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.31% Due 10/13/2029
Investments [Abstract]
Percentage of net assets	[1],[6]	0.42%
Investment, Identifier [Axis]: Covetrus, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.35% Due 10/13/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.45%
Investment, Identifier [Axis]: Cricket Valley Energy Center, First and Second Lien Debt SOFR Spread 3.90% Interest Rate 9.20% Due 6/30/2025
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6],[11]	1.17%
Investment, Identifier [Axis]: Cricket Valley Energy Center, First and Second Lien Debt SOFR Spread 3.90% Interest Rate 9.25% Due 6/30/2025
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10],[12]			1.25%
Investment, Identifier [Axis]: Crosby US Acquisition Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.21% Due 6/26/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[13]			0.28%
Investment, Identifier [Axis]: Cyanco Intermediate 2 Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.08% Due 7/10/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.08%
Investment, Identifier [Axis]: Cyanco Intermediate 2 Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.11% Due 7/10/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.35%
Investment, Identifier [Axis]: DS Parent Inc. First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.81% Due 12/13/2030
Investments [Abstract]
Percentage of net assets		1.25%	[1],[5],[11]	1.29%	[2],[3],[12]
Investment, Identifier [Axis]: DTI Holdco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.06% Due 4/26/2029
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.63%
Investment, Identifier [Axis]: DTI Holdco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.13% Due 4/26/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.66%
Investment, Identifier [Axis]: DXP Enterprises, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.29% Due 10/11/2030
Investments [Abstract]
Percentage of net assets		0.84%	[1],[4],[5],[6]	0.90%	[2],[3],[7],[10]
Investment, Identifier [Axis]: Discovery Energy Holding Corp First and Second Lien Debt SOFR Spread 10.06% Due 1/30/2031
Investments [Abstract]
Percentage of net assets	[1],[5]	1.18%
Investment, Identifier [Axis]: Distributors First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		3.59%	[1],[5]	4.46%	[2],[3]
Investment, Identifier [Axis]: Diversified Consumer Services First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		2.11%	[1],[5]	2.98%	[2],[3]
Investment, Identifier [Axis]: Eagle Parent Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.55% Due 4/2/2029
Investments [Abstract]
Percentage of net assets	[1],[6]	1.24%
Investment, Identifier [Axis]: Eagle Parent Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.64% Due 4/2/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.33%
Investment, Identifier [Axis]: Electric Utilities First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		4.10%	[1],[5]	11.46%	[2],[3]
Investment, Identifier [Axis]: Electrical Equipment First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1],[5]	13.93%
Investment, Identifier [Axis]: Electronic Equipment, Instruments & Components First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			0.50%
Investment, Identifier [Axis]: Endure Digital Inc. First and Second Lien Debt SOFR Spread 3.50% Interest Rate 9.42% Due 2/10/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.44%
Investment, Identifier [Axis]: Energy Equipment & Services First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			2.23%
Investment, Identifier [Axis]: EnergySolutions, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.36% Due 9/20/2030
Investments [Abstract]
Percentage of net assets		0.42%	[1],[6]	0.45%	[2],[3],[7]
Investment, Identifier [Axis]: Epic Crude Services, LP First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.93% Due 3/2/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			2.23%
Investment, Identifier [Axis]: FCG Acquisitions Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.06% Due 3/31/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.69%
Investment, Identifier [Axis]: Fertitta Entertainment, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.36% Due 1/27/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.45%
Investment, Identifier [Axis]: First Brands Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.88% Due 3/30/2027
Investments [Abstract]
Percentage of net assets		0.84%	[1],[5]	0.89%	[2],[3]
Investment, Identifier [Axis]: First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		164.30%	[1],[5]	151.98%	[2],[3]
Investment, Identifier [Axis]: First and Second Lien Debt LIBOR
Investments [Abstract]
Investment term of variable rates		6 months		6 months
Investment term of variable rates		3 months		3 months
Investment term of variable rates		1 month		1 month
Percentage of LIBOR rates		5.65%		5.59%
Percentage of LIBOR rates		5.56%		5.59%
Percentage of LIBOR rates		5.44%		5.47%
Investment, Identifier [Axis]: First and Second Lien Debt SOFR
Investments [Abstract]
Investment term of variable rates		6 months		6 months
Investment term of variable rates		3 months		3 months
Investment term of variable rates		1 month		1 month
Percentage of SOFR rates		5.22%		5.16%
Percentage of SOFR rates		5.30%		5.33%
Percentage of SOFR rates		5.33%		5.35%
Investment, Identifier [Axis]: Foundation Building Materials Inc First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.31% Due 1/29/2031
Investments [Abstract]
Percentage of net assets	[1],[5]	1.03%
Investment, Identifier [Axis]: Gas Utilities First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			0.43%
Investment, Identifier [Axis]: Gas Utilities First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1]	0.42%
Investment, Identifier [Axis]: Generation Bridge Northeast, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.61% Due 8/22/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.33%
Investment, Identifier [Axis]: GeoStabilization International, LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.50% Due 12/19/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.84%
Investment, Identifier [Axis]: GeoStabilization International, LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.80% Due 12/19/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.90%
Investment, Identifier [Axis]: Gloves Buyer, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 12/29/2027
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6]	0.84%
Investment, Identifier [Axis]: Gloves Buyer, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.47% Due 12/29/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			0.88%
Investment, Identifier [Axis]: Ground Transportation First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		0.42%	[1]	1.11%	[2],[3]
Investment, Identifier [Axis]: Health Care Equipment & Supplies First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			1.39%
Investment, Identifier [Axis]: Health Care Equipment & Supplies First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1]	0.68%
Investment, Identifier [Axis]: Health Care Providers & Services First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			11.70%
Investment, Identifier [Axis]: Health Care Providers and Services First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1]	12.60%
Investment, Identifier [Axis]: Health Care Technology First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		0.42%	[1]	0.45%	[2],[3]
Investment, Identifier [Axis]: Heartland Dental, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 4/28/2028
Investments [Abstract]
Percentage of net assets	[1],[6]	1.08%
Investment, Identifier [Axis]: Heartland Dental, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 4/28/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.15%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 10/29/2027 One
Investments [Abstract]
Percentage of net assets	[1]	0.05%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 10/29/2027 Three
Investments [Abstract]
Percentage of net assets	[1]	0.42%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 10/29/2027 Two
Investments [Abstract]
Percentage of net assets	[1]	0.37%
Investment, Identifier [Axis]: Help At Home, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.46% Due 10/29/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.44%
Investment, Identifier [Axis]: Heritage-Crystal Clean, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.32% Due 10/17/2030
Investments [Abstract]
Percentage of net assets	[1]	0.42%
Investment, Identifier [Axis]: Heritage-Crystal Clean, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.40% Due 10/17/2030
Investments [Abstract]
Percentage of net assets	[2],[3]			0.45%
Investment, Identifier [Axis]: Holley Purchaser, Inc. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.22% Due 11/28/2028
Investments [Abstract]
Percentage of net assets	[2],[3]			1.91%
Investment, Identifier [Axis]: Hotels Restaurants and Leisure First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1]	8.36%
Investment, Identifier [Axis]: Hotels, Restaurants & Leisure First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			9.05%
Investment, Identifier [Axis]: Household Products First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		3.35%	[1]	6.67%	[2],[3]
Investment, Identifier [Axis]: IBG Borrower LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 10.06% Due 8/22/2029
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	4.16%
Investment, Identifier [Axis]: IBG Borrower LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.50% Due 8/22/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			4.44%
Investment, Identifier [Axis]: IT Services First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		4.96%	[1]	5.78%	[2],[3]
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Due 4/27/2028
Investments [Abstract]
Percentage of net assets	[1],[6],[8]	0.00%
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 0.00% Due 4/27/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[9]			0.00%
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.72% Due 4/27/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.49%
Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 9.57% Due 4/27/2028
Investments [Abstract]
Percentage of net assets	[1],[6]	1.39%
Investment, Identifier [Axis]: Independent Power and Renewable Electricity Producers First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			1.27%
Investment, Identifier [Axis]: Inmar, Inc. First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.85% Due 5/1/2026
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.26%
Investment, Identifier [Axis]: Inmar, Inc. First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.86% Due 5/1/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.33%
Investment, Identifier [Axis]: Insurance First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		4.09%	[1]	5.02%	[2],[3]
Investment, Identifier [Axis]: Invenergy Thermal Operating I LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.92% Due 8/14/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.27%
Investment, Identifier [Axis]: Investments And Cash Equivalents
Investments [Abstract]
Percentage of net assets		205.44%	[1]	190.35%	[2]
Investment, Identifier [Axis]: Investments Portfolio
Investments [Abstract]
Percentage of net assets		170.94%	[1],[5]	159.00%	[2]
Investment, Identifier [Axis]: Investments-Non-Controlled/Non-Affiliated
Investments [Abstract]
Percentage of net assets		170.94%	[1],[5]	159.00%	[2],[3]
Investment, Identifier [Axis]: J-O Building Company LLC First and Second Lien Debt SOFR Spread 6.75% Interest Rate 12.10% Due 5/25/2028
Investments [Abstract]
Percentage of net assets	[1],[4],[6]	5.48%
Investment, Identifier [Axis]: J-O Building Company LLC First and Second Lien Debt SOFR Spread 6.75% Interest Rate 12.14% Due 5/25/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			6.26%
Investment, Identifier [Axis]: Journey Personal Care Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.72% Due 3/1/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[12]			2.22%
Investment, Identifier [Axis]: KDC/one Development Corporation, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 8/15/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6],[14]	1.69%
Investment, Identifier [Axis]: KDC/one Development Corporation, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 8/15/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[15]			1.78%
Investment, Identifier [Axis]: KKR Tinder TFC Aggregator L.P.
Investments [Abstract]
Percentage of net assets		6.64%	[1],[4],[5]	7.02%	[2],[3],[10]
Investment, Identifier [Axis]: Kestrel Acquisition, LLC First and Second Lien Debt SOFR 4.25% Interest Rate 9.68% Due 6/2/2025
Investments [Abstract]
Percentage of net assets	[1],[5]	0.84%
Investment, Identifier [Axis]: Kronos Acquisition Holdings Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.49% Due 12/22/2026
Investments [Abstract]
Percentage of net assets	[1],[6]	1.10%
Investment, Identifier [Axis]: Kronos Acquisition Holdings Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.54% Due 12/22/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.18%
Investment, Identifier [Axis]: LSF11 A5 Holdco LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.68% Due 10/15/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6],[16]	1.68%
Investment, Identifier [Axis]: LSF11 A5 Holdco LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.71% Due 10/15/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[13]			1.80%
Investment, Identifier [Axis]: LSF12 Badger Bidco LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 8/30/2030
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.27%
Investment, Identifier [Axis]: LSF12 Badger Bidco LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.36% Due 8/30/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.35%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 8/3/2029
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.72%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 8/6/2029
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.37%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 8/3/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.83%
Investment, Identifier [Axis]: Lackawanna Energy Center LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 8/6/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.40%
Investment, Identifier [Axis]: LaserShip, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 10.40% Due 5/7/2028
Investments [Abstract]
Percentage of net assets		0.79%	[1],[5],[6]	0.83%	[2],[3],[7]
Investment, Identifier [Axis]: Leisure Products First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		0.84%	[1]	0.89%	[2],[3]
Investment, Identifier [Axis]: Liabilities in Excess of Other Assets
Investments [Abstract]
Percentage of net assets		(105.44%)	[1]	(90.35%)	[2]
Investment, Identifier [Axis]: Limetree Bay Terminals, LLC First and Second Lien Debt SOFR Spread 4.50%/1% PIK Interest Rate 9.81% Due 12/11/2026
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	9.33%
Investment, Identifier [Axis]: Limetree Bay Terminals, LLC First and Second Lien Debt SOFR Spread 6.50%/2% PIK Interest Rate 11.81% Due 2/12/2029
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	4.19%
Investment, Identifier [Axis]: Lincoln Metal Shop, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.46% Due 6/7/2027
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6]	9.72%
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/29/2029
Investments [Abstract]
Percentage of net assets		(0.03%)	[1],[4],[5],[6],[8]	(0.01%)	[2],[3],[7],[9],[10]
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/29/2029 One
Investments [Abstract]
Percentage of net assets		(0.03%)	[1],[4],[5],[6],[8]	(0.02%)	[2],[3],[7],[10]
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.83% Due 6/29/2029
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6]	6.22%
Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.86% Due 6/29/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			6.66%
Investment, Identifier [Axis]: Machinery First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		6.48%	[1],[5]	5.88%	[2],[3]
Investment, Identifier [Axis]: Mckissock Investment Holdings LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.38% Due 3/12/2029
Investments [Abstract]
Percentage of net assets		1.06%	[1],[5]	1.12%	[2],[3]
Investment, Identifier [Axis]: Metals & Mining First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		1.26%	[1],[5]	1.35%	[2],[3]
Investment, Identifier [Axis]: NMN Holdings III Corp First and Second Lien Debt SOFR Spread 3.50% Interest Rate 8.97% Due 11/13/2025
Investments [Abstract]
Percentage of net assets	[2],[3],[10]			1.39%
Investment, Identifier [Axis]: NMN Holdings III Corp. First and Second Lien Debt SOFR Spread 3.50% Interest Rate 8.94% Due 11/13/2025
Investments [Abstract]
Percentage of net assets	[1],[5]	0.56%
Investment, Identifier [Axis]: NMN Holdings III Corp. First and Second Lien Debt SOFR Spread 3.50% Interest Rate 9.20% Due 11/13/2025
Investments [Abstract]
Percentage of net assets	[1]	0.12%
Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.42% Due 4/11/2029
Investments [Abstract]
Percentage of net assets	[1],[6]	2.05%
Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.51% Due 4/11/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			2.17%
Investment, Identifier [Axis]: Net Assets
Investments [Abstract]
Percentage of net assets	[1]	100.00%
Investment, Identifier [Axis]: Nielsen Consumer Inc. First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.58% Due 3/6/2028
Investments [Abstract]
Percentage of net assets	[1],[6],[16]	1.66%
Investment, Identifier [Axis]: Nielsen Consumer Inc. First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.61% Due 3/6/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[13]			1.75%
Investment, Identifier [Axis]: Non-qualifying Assets
Investments [Abstract]
Percentage of net assets		1.58%		2.17%
Investment, Identifier [Axis]: Odyssey Logistics & Technology Corporation First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.83% Due 10/12/2027
Investments [Abstract]
Percentage of net assets	[1],[6]	0.42%
Investment, Identifier [Axis]: Odyssey Logistics & Technology Corporation First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.86% Due 10/12/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.45%
Investment, Identifier [Axis]: Oil, Gas & Consumable Fuels First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1],[5]	13.52%
Investment, Identifier [Axis]: Oscar AcquisitionCo, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.90% Due 4/29/2029
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.73%
Investment, Identifier [Axis]: Oscar AcquisitionCo, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.95% Due 4/29/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.78%
Investment, Identifier [Axis]: PAI Holdco, Inc. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.39% Due 10/28/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.63%
Investment, Identifier [Axis]: Parkway Generation, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.32% Due 2/18/2029
Investments [Abstract]
Percentage of net assets	[1],[5]	0.37%
Investment, Identifier [Axis]: Parkway Generation, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.39% Due 2/18/2029
Investments [Abstract]
Percentage of net assets		0.05%	[1]	0.43%	[2],[3]
Investment, Identifier [Axis]: Particle Investments S.a.r.l. First and Second Lien Debt LIBOR Spread 5.25% Interest Rate 10.72% Due 5/24/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[13],[17]			0.44%
Investment, Identifier [Axis]: Patriot Container Corp. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.18% Due 3/20/2025
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.21%
Investment, Identifier [Axis]: Pediatric Associates Holding Company, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.94% Due 12/29/2028
Investments [Abstract]
Percentage of net assets	[1],[6]	0.36%
Investment, Identifier [Axis]: Pediatric Associates Holding Company, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.97% Due 12/29/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.43%
Investment, Identifier [Axis]: Personal Care Products First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		1.69%	[1],[5]	1.78%	[2],[3]
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0% Due 11/15/2029
Investments [Abstract]
Percentage of net assets	[1],[4],[6],[8]	(0.01%)
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0% Due 11/15/2030
Investments [Abstract]
Percentage of net assets	[1],[4],[6],[8]	(0.01%)
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0.00% Due 11/15/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[9],[10]			(0.02%)
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 0.00% Due 11/15/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[9],[10]			(0.01%)
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 11/15/2030
Investments [Abstract]
Percentage of net assets	[1],[4],[6]	5.60%
Investment, Identifier [Axis]: PetVet Care Centers, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.36% Due 11/15/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			6.00%
Investment, Identifier [Axis]: Physician Partners LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.53% Due 12/26/2028
Investments [Abstract]
Percentage of net assets		0.31%	[1],[6]	0.42%	[2],[3],[7]
Investment, Identifier [Axis]: Potomac Energy Center, LLC First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.61% Due 11/12/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[10]			5.33%
Investment, Identifier [Axis]: Pretium Packaging,LLC First and Second Lien Debt SOFR Spread 4.60% Interest Rate 9.99% Due 10/02/2028
Investments [Abstract]
Percentage of net assets	[2],[3]			0.65%
Investment, Identifier [Axis]: Pretium Packaging,LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.39% Due 10/02/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.22%
Investment, Identifier [Axis]: Professional Services First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		9.69%	[1],[5]	10.07%	[2],[3]
Investment, Identifier [Axis]: RSC Acquisition, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.30% Due 11/1/2029
Investments [Abstract]
Percentage of net assets	[1],[4],[8]	0.38%
Investment, Identifier [Axis]: RSC Acquisition, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.35% Due 11/1/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[10]			0.11%
Investment, Identifier [Axis]: RSC Acquisition, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.39% Due 11/1/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[9],[10]			0.04%
Investment, Identifier [Axis]: Ranger Holdco Spe LLC First and Second Lien Debt PIK 15.00% Interest Rate 15.00% Due 8/8/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[10]			8.60%
Investment, Identifier [Axis]: Ranger Holdco Spe LLC First and Second Lien Debt SOFR Spread 15.00% Interest Rate 15% Due 8/8/2028
Investments [Abstract]
Percentage of net assets	[1],[4]	8.36%
Investment, Identifier [Axis]: Ratriot Container Corp First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.21% Due 3/20/2025
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			1.28%
Investment, Identifier [Axis]: Recess Holdings, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.39% Due 3/29/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			0.90%
Investment, Identifier [Axis]: Recess Holdings, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.84% Due 3/29/2027
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6]	1.27%
Investment, Identifier [Axis]: RelaDyne Inc First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.61% Due 12/22/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[9],[10]			0.89%
Investment, Identifier [Axis]: RelaDyne Inc First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 12/22/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[9],[10]			0.90%
Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.58% Due 12/22/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.84%
Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.33% Due 12/22/2028
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	0.84%
Investment, Identifier [Axis]: Renaissance Holding Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.11% Due 4/5/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			2.23%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Due 11/14/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[9]			0.00%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 0% Due 11/14/2030
Investments [Abstract]
Percentage of net assets	[1],[8]	0.00%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.83% Due 11/14/2030
Investments [Abstract]
Percentage of net assets	[1],[8]	0.77%
Investment, Identifier [Axis]: Ryan, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.86% Due 11/14/2030
Investments [Abstract]
Percentage of net assets	[2],[3]			0.82%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.69% Due 8/24/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[9],[10]			0.58%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.82% Due 8/24/2028
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6]	6.95%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.83% Due 8/24/2028
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6],[8]	0.28%
Investment, Identifier [Axis]: Sales Performance International, LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.88% Due 8/24/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			7.47%
Investment, Identifier [Axis]: Simon & Schuster Inc.First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.39% Due 10/30/2030
Investments [Abstract]
Percentage of net assets	[2],[3]			0.90%
Investment, Identifier [Axis]: Software First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		0.99%	[1],[5]	5.52%	[2],[3]
Investment, Identifier [Axis]: Southern Veterinary Partners, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.44% Due 10/5/2027
Investments [Abstract]
Percentage of net assets	[1],[6]	0.63%
Investment, Identifier [Axis]: Southern Veterinary Partners, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.47% Due 10/5/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.67%
Investment, Identifier [Axis]: Spring Education Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.81% Due 10/4/2030
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.69%
Investment, Identifier [Axis]: Spring Education Group, Inc. First and Second Lien Debt SOFR Spread 9.85% Due 10/4/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.81%
Investment, Identifier [Axis]: St. Joseph Energy Center, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.71% Due 10/05/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			1.32%
Investment, Identifier [Axis]: Staples, Inc. First and Second Lien Debt LIBOR Spread 4.50% Interest Rate 9.96% Due 9/12/2024
Investments [Abstract]
Percentage of net assets	[2],[3]			0.45%
Investment, Identifier [Axis]: Staples, Inc. First and Second Lien Debt LIBOR Spread 5.50% Interest Rate 10.46% Due 4/16/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.42%
Investment, Identifier [Axis]: Star Parent, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.31% Due 9/27/2030
Investments [Abstract]
Percentage of net assets	[1],[5],[6]	1.26%
Investment, Identifier [Axis]: Star Parent, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.35% Due 9/27/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			2.23%
Investment, Identifier [Axis]: State Street Institutional Money Market Fund
Investments [Abstract]
Percentage of net assets		34.50%	[1],[18]	31.35%	[2],[17]
Annualized period of yield		7 days		7 days
Percentage of annualized seven-day yield		5.01%		5.07%
Investment, Identifier [Axis]: TGG TS Acquisition Company First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.97% Due 12/14/2025
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.50%
Investment, Identifier [Axis]: Tank Holding Corp Two. First and Second Lien Debt SOFR Spread 6.00%, Interest Rate 11.46% Due 3/31/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[9],[10]			0.22%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 5.75% Interest Rate 11.18% Due 3/31/2028
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6]	0.41%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 5.75% Interest Rate 11.21% Due 3/31/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			0.43%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.43% Due 3/31/2028
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6]	1.57%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.43% Due 3/31/2028 One
Investments [Abstract]
Percentage of net assets	[1],[4],[5],[6],[8]	0.30%
Investment, Identifier [Axis]: Tank Holding Corp. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.46% Due 3/31/2028
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			1.64%
Investment, Identifier [Axis]: Team Services Group First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.58% Due 12/20/2027
Investments [Abstract]
Percentage of net assets	[1],[6]	0.84%
Investment, Identifier [Axis]: Team Services Group First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.88% Due 12/20/2027
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.44%
Investment, Identifier [Axis]: Teneo Holdings LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.08% Due 3/13/2031
Investments [Abstract]
Percentage of net assets	[1],[5]	0.56%
Investment, Identifier [Axis]: Textiles, Apparel & Luxury Goods First and Second Lien Debt
Investments [Abstract]
Percentage of net assets		4.78%	[1],[5]	5.11%	[2],[3]
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Due 10/24/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[9],[10]			0.00%
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 0.00% Due 10/24/2030
Investments [Abstract]
Percentage of net assets	[1],[4],[8]	0.00%
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.82% Due 10/24/2030
Investments [Abstract]
Percentage of net assets	[1],[4]	0.37%
Investment, Identifier [Axis]: The Action Environmental Group, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.88% Due 10/24/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[10]			0.39%
Investment, Identifier [Axis]: Total Trading Companies & Distributors First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[2],[3]			15.15%
Investment, Identifier [Axis]: TouchTunes Interactive Networks, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.35% Due 4/2/2029
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.00%
Investment, Identifier [Axis]: TouchTunes Interactive Networks, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.36% Due 4/2/2029
Investments [Abstract]
Percentage of net assets	[1],[6]	0.94%
Investment, Identifier [Axis]: Trading Companies & Distributors First and Second Lien Debt
Investments [Abstract]
Percentage of net assets	[1],[5]	14.14%
Investment, Identifier [Axis]: Trulite Holding Corp First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.33% Due 8/1/2030
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	1.26%
Investment, Identifier [Axis]: USA Debusk LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.93% Due 9/8/2026
Investments [Abstract]
Percentage of net assets	[1],[4],[6]	4.28%
Investment, Identifier [Axis]: USA Debusk LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.93% Due 9/8/2026 One
Investments [Abstract]
Percentage of net assets	[1],[4],[6]	1.29%
Investment, Identifier [Axis]: USA Debusk LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.96% Due 9/8/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			1.35%
Investment, Identifier [Axis]: USA Debusk LLC Two, First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.96% Due 9/8/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7],[10]			4.50%
Investment, Identifier [Axis]: Ultimate Software Group Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.99% Due 5/4/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.90%
Investment, Identifier [Axis]: Varsity Brands, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.44% Due 12/15/2026
Investments [Abstract]
Percentage of net assets	[1],[6]	0.84%
Investment, Identifier [Axis]: Varsity Brands, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.47% Due 12/15/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.89%
Investment, Identifier [Axis]: Voltagrid LLC First and Second Lien Debt SOFR Spread 6.50% Due 9/1/2025
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	(0.06%)
Investment, Identifier [Axis]: Voltagrid LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.94% Due 3/1/2029
Investments [Abstract]
Percentage of net assets	[1],[4],[5]	13.99%
Investment, Identifier [Axis]: Wellness Merger Sub, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.57% Due 6/30/2026
Investments [Abstract]
Percentage of net assets	[1],[6]	1.63%
Investment, Identifier [Axis]: Wellness Merger Sub, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.61% Due 6/30/2026
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			1.73%
Investment, Identifier [Axis]: Windsor Holdings III, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.84% Due 8/1/2030
Investments [Abstract]
Percentage of net assets	[2],[3],[7]			0.90%

[1] Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.

[2] Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.

[3] Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.

[4] Investments valued using unobservable inputs (Level 3). Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee, under the supervision of the Board, pursuant to the Company’s valuation policy. See Note 4, Investments and Fair Value Measurements, for details.

[5] Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.

[6] Investment is pledged as collateral for the Secured Credit Facility. See Note 5, Borrowings, for details.

[7] Investment is pledged as collateral for the Secured Credit Facility. See Note 5, Borrowings, for details.

[8] Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair values are the result of the commitment being valued below par. See Note 6, Commitments and Contingencies, for details.

[9] Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair values are the result of the commitment being valued below par. See Note 6, Commitments and Contingencies, for details.

[10] Investments valued using unobservable inputs (Level 3). Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee, under the supervision of the Board, pursuant to the Company’s valuation policy. See Note 4, Investments and Fair Value Measurements, for details.

[11] Position or portion thereof is unsettled as of March 31, 2024.

[12] Position or portion thereof unsettled as of December 31, 2023.

[13] The investment is not a qualifying asset under Section 55(a) of the 1940 Act. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2023, non-qualifying assets totaled 2.17% of the Company’s total assets.

[14] The issuer of this investment is domiciled in Canada.

[15] The issuer of this investment is domiciled in Canada.

[16] The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of March 31, 2024, non-qualifying assets totaled 1.58% of the Company’s total assets.

[17] The issuer of this investment is domiciled in Luxembourg.

[18] The annualized seven-day yield as of March 31, 2024 is 5.01%.

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Pay vs Performance Disclosure - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 6,643,763	$ (869,394)

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Insider Trading Arrangements

3 Months Ended

Mar. 31, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During the fiscal quarter ended March 31, 2024, none of our trustees or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

Rule 10b5-1 Arrangement Adopted

false

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

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Organization

9 Months Ended

Sep. 30, 2023

Organization [Abstract]

Organization

Note 1. Organization

Organization

Kennedy Lewis Capital Company, (the “Company”), is a Delaware statutory trust structured as an externally managed, diversified closed-end management investment company. The Company has elected to be treated as a business development company (a “BDC”) under the U.S. Investment Company Act of 1940, as amended (the “1940 Act”). In addition, the Company intends to elect to be treated as a regulated investment company (a “RIC”) for U.S. federal income tax purposes under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”).

The Company is externally managed by Kennedy Lewis Capital Holdings LLC (the “Advisor”), a Delaware limited liability company that is registered with the U.S. Securities and Exchange Commission (the “SEC”) as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) pursuant to an investment advisory agreement between the Company and the Advisor (as amended, the “Advisory Agreement”). Kennedy Lewis Management LP (“Kennedy Lewis Management,” and together with Kennedy Lewis Capital Holdings LLC and its affiliates, “Kennedy Lewis”) is registered with the SEC as an investment adviser under the Advisers Act. The Advisor has entered into a resource sharing agreement (“Resource Sharing Agreement”) with Kennedy Lewis Management, pursuant to which Kennedy Lewis Management makes certain personnel and resources available to the Advisor to provide certain investment advisory services to the Company. Kennedy Lewis Management serves as the Company’s administrator (in such capacity, the “Administrator”) pursuant to an administration agreement (the “Administration Agreement”).

The Company has been established to invest primarily in debt or other debt-like securities across the capital structure of middle market companies located in the United States and, selectively, in other North American countries and in Europe, with the ability to consider investments focused on other geographic markets. The Company generally defines middle market companies as those having enterprise values between $300 million and $3 billion. The Company’s investment objectives are to maximize the total return to its holders of common shares of beneficial interest, par value $0.01 (“Common Shares”) (each a “shareholder”) in the form of current income and, to a lesser extent, capital appreciation. The Company employs a strategy to provide capital to middle market companies, with a focus on direct originations in private, first lien, senior secured, performing credits. The Company expects to generate returns primarily from interest income and fees from senior secured loans, with some capital appreciation through nominal equity co-investments.

Subject to the supervision of the Company’s Board of Trustees (the “Board”), a majority of which are trustees who are not “interested persons” as defined in Section 2(a)(19) of the 1940 Act (“Independent Trustees”), the Advisor manages the Company’s day-to-day operations and provides the Company with investment advisory and management services.

Fiscal Year End

The Company was formed on February 10, 2022, and commenced operations on February 1, 2023. Its fiscal year ends on December 31.

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Significant Accounting Policies

3 Months Ended

Mar. 31, 2024

Significant Accounting Policies [Abstract]

Significant Accounting Policies

Note 2. Significant Accounting Policies

Industry Reclassification

During the quarter ended March 31, 2024, the Company changed the investment industry classification from those provided by Moody's to those provided by S&P. The Consolidated Schedule of Investments as of December 31, 2023, as well as the industry composition of investments based on fair value as of December 31, 2023 disclosed in Note 4 - Investments and Fair Value Measurements, have been reclassified to conform to the classifications used to prepare the consolidated financial statements as of and for the period ended March 31, 2024.

Basis of Presentation

The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Company is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies. These consolidated financial statements reflect adjustments that in the opinion of management are necessary for the fair statement of the consolidated financial statements presented herein.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Changes in the economic environment, financial markets, and other metrics used in determining these estimates could cause actual results to differ from the estimates used, and the differences could be material.

Consolidation

In accordance with U.S. GAAP guidance on consolidation, the Company will generally not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company’s wholly-owned subsidiary, KLCC SPV GS1 LLC, in its consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation.

Cash, Cash Equivalents and Restricted Cash

Cash consists of deposits held at a custodian bank. Cash equivalents consists of money market investments with original maturities of three months that are readily convertible to cash and are classified as Level 1 investments. Cash and cash equivalents are held at major financial institutions and, at times, may exceed the insured limits under applicable law. Cash and cash equivalents are carried at cost, which approximates fair value. As of March 31, 2024 and December 31, 2023, we had $56,233,451 and $47,844,154 of restricted cash and cash equivalents related to collateral held for the Secured Credit Facility (as defined below) and presented in the statements of assets and liabilities. This is further discussed in Note 5.

Realized and Unrealized Gains/Losses

Investment transactions and the related revenue and expenses are recorded on a trade-date basis. Realized gains or losses are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the amortized cost basis of the investment using the specific identification method. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period.

Interest and Dividend Income

Interest and dividend income is recorded on an accrual basis. Interest income includes the accretion of discounts and amortizations of premiums. The amortized cost of debt investments represents the original cost, including fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income.

Fee Income

In the general course of its business, the Company receives certain fees, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as fee income in investment income when earned.

PIK Income

Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK represents accrued interest that is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest income. Because the Company intends to elect to be treated as a RIC for U.S. federal income purposes under Subchapter M of the Code, this non-cash source of income must be paid out to shareholders in the form of distributions, even though the Company has not yet collected the cash.

Non-Accrual Loans

Loans or debt securities are placed on non-accrual status when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest are paid and, in management’s judgment, principal and interest payments are likely to remain current. The Company may make exceptions to this treatment if a loan has sufficient collateral value and is in the process of collection. As of March 31, 2024 and December 31, 2023, there were no loans placed on non-accrual status.

Deferred Financing Costs

Deferred financing costs represent fees and other direct costs incurred in connection with the Company’s borrowings. These amounts are capitalized and amortized over the contractual term of the borrowing.

Receivable for Investments Sold and Payable for Investments Purchased

Receivable for investments sold and payable for investments purchased represent unsettled investments.

Valuation of Portfolio Investments

In accordance with Rule 2a-5 under the 1940 Act, the Board has designated the Advisor as the Company’s “Valuation Designee”. The Advisor has established a Valuation Committee that is responsible for determining in good faith the fair value of the Company’s investments in instances where there is no readily available market quotation. A readily available market quotation is not expected to exist for most of the investments in the Company’s portfolio, and the Company values these portfolio investments at fair value as determined in good faith by the Valuation Designee on a quarterly basis. Investments for which market quotations are readily available may be priced by independent pricing services. The Company has retained an external, independent valuation firm to provide data and valuation analyses on the Company’s portfolio companies.

The Advisor values the Company’s investments based on the type of financial instrument as outlined below:

Securities that are listed on a securities, commodities or futures exchange or market (including such securities when traded in the after‐hours market), will be valued (i) at their last sales prices on the date of determination on the primary exchange on which such securities were traded on such date, or (ii) at their last sales prices on the consolidated tape if such securities on the primary exchange on which such securities were traded on such date were reported on the consolidated tape, or (iii) in the event that the date of determination is not a date upon which an exchange was open for trading, on the date on which such exchange was previously open but not more than 10 days prior to the date of determination.

Securities that are not listed on an exchange but are traded over‐the‐counter will be valued at representative “bid” quotations if held long and representative “asked” quotations if held short, unless included in the NASDAQ National Market System, in which case they will be valued based upon their last sales prices (if such prices are available); provided that if the last sales price of a security does not fall between the last “bid” and “asked” price for such security on such date, the Advisor will value such security at the mean between the last “bid” and “asked” price for such security on such date. Securities not denominated in U.S. dollars will be translated into U.S. dollars at prevailing exchange rates as the Advisor may reasonably determine. All other investments will be assigned such value as the Advisor may reasonably determine. When available, quotations from brokers or pricing services will be considered in the valuation process. For example, the Advisor will utilize indicative prices from brokers or pricing services to determine the fair value of bonds and bank debt and may internally validate the quotes obtained or utilize the mean of the bid (if long) and ask (if short) quotes obtained. For these quotes to be considered for valuation purposes they must be sent directly from the brokers to the Advisor. If quotations are not readily available through pricing services or brokers for a security, financial instrument or other property, the Advisor will determine its value in such a manner as the Advisor, in its sole discretion, reasonably determines. This is generally achieved by engaging a third‐party valuation firm to value such securities and provide a range of values for each position. The Advisor will then mark the position within that range.

The determination of fair value generally considers factors such as comparisons to public companies, comparable transactions, markets in which a company does business, the nature and realizable value of any collateral, discounted cash flows, earnings and ability to make payments, and market yields. If an event such as a purchase, sale, or public offering occurs, the Advisor may consider the pricing indicated by such event to corroborate its internal valuation.

FASB ASC Topic 820: Fair Value Measurements and Disclosures (“ASC 820”) specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level of information used in the valuation.

The Company classifies the inputs used to measure fair values into the following hierarchy:

•Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible to the Company at the measurement date.

•Level 2—Valuations are based on similar assets or liabilities in active markets, or quoted prices identical or similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable.

•Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuation techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The Advisor’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and it considers factors specific to the investment.

Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Advisor applies the valuation policy approved by the Board that is consistent with ASC 820. Consistent with the valuation policy, the Advisor evaluates the source of inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When a security is valued based on prices provided by reputable dealers or pricing services (that is, broker quotes), the Advisor subjects those prices to various additional criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Advisor reviews pricing provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Some additional factors considered include the number of prices obtained as well as an assessment as to their quality, such as the depth of the relevant market relative to the size of the Company’s position.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material.

In addition, changes in the market environment, including the impact of changes in broader market indices and credit spreads, and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein.

Organization and Offering Costs

Organizational costs to establish the Company are charged to expense as incurred. These expenses consist primarily of legal fees and other costs of organizing the Company.

Offering costs in connection with the offering of Common Shares of the Company are capitalized as a deferred charge and amortized to expense on a straight-line basis over 12 months. Initial offering costs were amortized beginning February 1, 2023, the commencement of operations.

Under the Advisory Agreement and the Administration Agreement, the Company, either directly or through reimbursements to the Advisor or its affiliates, is responsible for its organization and offering costs. For the three months ended March 31, 2024 and March 31, 2023, the Advisor and its affiliates incurred organization and offering costs of $0 and $328,240, respectively, on behalf of the Company. As of March 31, 2024, the total amount owed to the Company from the Advisor pursuant to the Expense Support and Conditional Reimbursement Agreement is included in Due from Advisor in the Statement of Assets and Liabilities.

Income Taxes

The Company intends to elect to be treated as a RIC. So long as the Company maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it timely distributes to its shareholders as dividends. Rather, any tax liability related to income earned and distributed would represent obligations of the Company’s investors and would not be reflected in the consolidated financial statements of the Company.

The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more likely than not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more likely than not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof. The Company did not record any tax provision in the current period. To qualify for and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must timely distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses.

In addition, based on the excise tax distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of (1) 98% of its ordinary income for the calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in prior years. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed.

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Related Party Transactions

3 Months Ended

Mar. 31, 2024

Related Party Transactions [Abstract]

Related Party Transactions

Note 3. Related Party Transactions

Administration Agreement

Under the Administration Agreement, the Administrator furnishes the Company with office facilities and equipment and provides the Company with clerical, bookkeeping, recordkeeping and other administrative services at such facilities. The Administrator also performs, or oversees the performance of, the Company’s required administrative services, which include responsibility for the financial and other records that the Company is required to maintain and preparing reports to its shareholders and reports and other materials filed with the SEC. In addition, the Administrator assists the Company in determining and publishing its net asset value, oversees the preparation and filing of its tax returns and the printing and dissemination of reports and other materials to its shareholders, and generally oversees the payment of its expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, the Administrator also provides managerial assistance on the Company’s behalf to those portfolio companies that have accepted the Company’s offer to provide such assistance. The Administrator has retained State Street Bank and Trust Company (“State Street”), a Massachusetts trust company, as a sub-administrator to perform any or all of its obligations under the Administration Agreement.

Payments under the Administration Agreement are equal to an amount based upon the Company’s allocable portion (subject to the review of the Board) of the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and the Company’s allocable portion of the cost of the Company’s Chief Financial Officer and their staff as well as State Street’s fees.

Advisory Agreement

Subject to the overall supervision of the Board and in accordance with the 1940 Act, the Advisor manages the Company’s day-to-day operations and provides investment advisory services to the Company. Under the terms of the Advisory Agreement, the Advisor:

•determines the composition of the Company’s portfolio, the nature and timing of the changes to its portfolio and the manner of implementing such changes;

•identifies, evaluates and negotiates the structure of the investments the Company makes;

•executes, closes, services and monitors the investments the Company makes;

•determines the securities and other assets that the Company purchases, retains or sells;

•performs due diligence on prospective portfolio companies; and

•provides the Company with such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the investment of its funds.

Under the Advisory Agreement, the Company pays the Advisor fees for investment management services consisting of a base management fee (the “Base Management Fee”) and an incentive fee (the “Incentive Fee”).

Base Management Fee

The Company pays the Advisor a management fee equal to an annual rate of 1.25% of the average of the Company’s net assets, at the end of the two most recently completed quarters. Subsequent to any initial public offering (“IPO”) or other listing of the Common Shares on a national securities exchange (“Exchange Listing”), the Company will pay the Advisor a base management fee calculated at an annual rate of 1.25% of the Company’s average gross assets at the end of the two most recently completed quarters. The management fee is payable quarterly in arrears. For the three months ended March 31, 2024, and March 31, 2023 the management fee was $716,752 and $211,049, respectively. At the Advisor’s discretion, $0 and $128,140 of the management fee was waived during the three months ended March 31, 2024, and March 31, 2023, respectively. For the three months ended March 31, 2024 and March 31, 2023, the management fee, net of waiver was $716,752 and $82,909, respectively.

Incentive Fee

The Incentive Fee consists of two components that are independent of each other, with the result that one component may be payable even if the other is not. A portion of the Incentive Fee is based on a percentage of income and a portion is based on a percentage of capital gains, each as described below.

Income-Based Incentive Fee. The portion based on the Company’s income is based on Pre-Incentive Fee Net Investment Income Returns. “Pre-Incentive Fee Net Investment Income Returns” means, as the context requires, either the dollar value of, or percentage rate of return on the value of net assets at the end of the immediate preceding quarter from interest income, dividend income and any other income (including any other fees (other than fees for providing managerial assistance), such as commitment, origination, structuring, diligence and consulting fees or other fees that are received from portfolio companies) accrued during the calendar quarter, minus operating expenses accrued for the quarter (including the management fee, expenses payable under the Administration Agreement entered into between the Company and the Administrator, and any interest expense or fees on any credit facilities or outstanding debt and dividends paid on any issued and outstanding preferred shares, but excluding the Incentive Fee and any shareholder servicing and/or distribution fees). Pre-Incentive Fee Net Investment Income Returns include, in the case of investments with a deferred interest feature (such as original issue discount, debt instruments with interest and zero coupon securities), accrued income that has not yet been received in cash. Pre-Incentive Fee Net Investment Income Returns do not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. The impact of expense support payments and recoupments are also excluded from Pre-Incentive Fee Net Investment Income Returns. Pre-Incentive Fee Net Investment Income Returns, expressed as a rate of return on the value of the Company’s net assets at the end of the immediate preceding quarter, is compared to a “hurdle rate” of return of 1.25% per quarter (5.0% annualized).

The Company pays the Advisor an Income Based Incentive Fee quarterly in arrears with respect to the Company’s Pre-Incentive Fee Net Investment Income Returns in each calendar quarter as follows:

•No incentive fee based on Pre-Incentive Fee Net Investment Income Returns in any calendar quarter in which Pre-Incentive Fee Net Investment Income Returns do not exceed the hurdle rate of 1.25% per quarter (5.0% annualized);

•100% of the dollar amount of Pre-Incentive Fee Net Investment Income Returns with respect to that portion of such Pre-Incentive Fee Net Investment Income Returns, if any, that exceeds the hurdle rate until the Advisor has received 12.5% of the total Pre-Incentive Fee Net Investment Income Returns for that calendar quarter. The Company refers to this portion of the Pre-Incentive Fee Net Investment Income Returns (which exceeds the hurdle rate) as the “catch-up.” This “catch-up” is meant to provide the Advisor an Incentive Fee of 12.5% on all Pre-Incentive Fee Net Investment Income Returns when that amount equals 1.43% in a calendar quarter (5.72% annualized), which is the rate at which the catch-up is achieved.

•12.5% of the dollar amount of all Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.43%.

These calculations are prorated for any period of less than three months, including the first quarter the Company commenced operations, and are adjusted for any share issuances or repurchases during the relevant quarter.

For the three months ended March 31, 2024 and March 31, 2023, income-based incentive fees were $692,650 and $0, respectively.

Capital Gains Incentive Fee. The second part of the Incentive Fee is determined and payable in arrears as of the end of each calendar year in an amount equal to 12.5% of cumulative realized capital gains from inception through the end of such calendar, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid Incentive Fee on capital gains as calculated in accordance with U.S. GAAP (the “Capital Gains Incentive Fee”). Subsequent to any IPO or Exchange Listing, the Company will pay the Advisor the Income Incentive Fee and Capital Gains Incentive Fee described above except that all of the 12.5% figures referenced therein will be increased to 15.0%.

In accordance with GAAP, the Company accrues a hypothetical capital gains incentive fee based upon the cumulative realized capital gains and realized capital losses and the cumulative unrealized capital appreciation and unrealized capital depreciation on investments held at the end of each period. Actual amounts paid to the Advisor are consistent with the Investment Management Agreement and are based only on actual realized capital gains computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis from inception through the end of each calendar year as if the entire portfolio was sold at fair value. For the three months ended March 31, 2024 and March 31, 2023, the Company accrued capital gains incentive fees of $1,122,040 and $0, respectively, of which none was currently payable on such date under the Advisory Agreement.

Co-investment Exemptive Relief

As a BDC, the Company is subject to certain regulatory restrictions in making its investments. For example, BDCs generally are not permitted to co-invest with certain affiliated entities in transactions originated by the BDC or its affiliates in the absence of an exemptive order from the SEC. However, BDCs are permitted to, and may, simultaneously co-invest in transactions where price and quantity are the only negotiated terms. On March 6, 2023, the SEC issued an order (the “Order”) granting the Company’s application for exemptive relief to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Advisor or its affiliates. Under the terms of the Order, in order for the Company to participate in a co-investment transaction, a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s Independent Trustees must conclude that (i) the terms of the proposed transaction, including the consideration to be paid, are reasonable and fair to the Company and its shareholders and do not involve overreaching with respect of the Company or its shareholders on the part of any person concerned, and (ii) the proposed transaction is consistent with the interests of the Company’s shareholders and is consistent with the Company’s investment objectives and strategies and certain criteria established by the Board.

Expense Support and Conditional Reimbursement Agreement

The Company has entered into an expense support and conditional reimbursement agreement (as amended, the “Expense Support Agreement”) with the Advisor, pursuant to which the Advisor has contractually agreed to pay Other Operating Expenses (as defined below) of the Company on the Company’s behalf (each such payment, a “Required Expense Payment” such that Other Operating Expenses of the Company do not exceed 1.00% (on an annualized basis) of the Company’s applicable quarter-end net asset value. “Other Operating Expenses” include the Company’s organizational and offering expenses (including the Company’s allocable portion of compensation and overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement, excluding Base Management Fees and Incentive Fees owed to the Advisor and any interest expenses owed by the Company.

At such times as the Advisor determines, the Advisor may elect to pay certain additional expenses of the Company on the Company’s behalf (each such payment, a “Voluntary Expense Payment” and together with a Required Expense Payment, the “Expense Payments”). In making a Voluntary Expense Payment, the Advisor will designate, as it deems necessary or advisable, what type of expense it is paying (including, whether it is paying organizational or offering expenses).

Following any calendar quarter in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the Company’s shareholders based on distributions declared with respect to record dates occurring in such calendar quarter (the amount of such excess referred to in the Expense Support Agreement as “Excess Operating Funds”), the Company will pay such Excess Operating Funds, or a portion thereof, to the Advisor until such time as all Expense Payments made by the Advisor to the Company within three years prior to the last business day of such calendar quarter have been reimbursed. Any payments required to be made by the Company under the Expense Support Agreement are referred to as a “Reimbursement Payment.” “Available Operating Funds” means the sum of (i) the Company’s net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) the Company’s net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to the Company on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above).

The amount of the Reimbursement Payment for any calendar quarter will equal the lesser of (i) the Excess Operating Funds in such quarter and (ii) the aggregate amount of all Expense Payments made by the Advisor to the Company within three years prior to the last business day of such calendar quarter that have not been previously reimbursed by the Company to the Advisor; provided that the Advisor may waive its right to receive all or a portion of any Reimbursement Payment in any particular calendar quarter, in which case such waived amount will remain unreimbursed Expense Payments reimbursable in future quarters pursuant to the terms of the Expense Support Agreement.

No Reimbursement Payment for any quarter shall be made if: (1) the Effective Rate of Distributions Per Share (as defined below) declared by the Company at the time of such Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Reimbursement Payment relates, (2) the Company’s Operating Expense Ratio at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Reimbursement Payment relate, or (3) the Company’s Other Operating Expenses at the time of such Reimbursement Payment exceeds 1.00% of the Company’s applicable quarter-end net asset value. The Effective Rate of Distributions Per Share means the annualized rate, based on a 365-day year, of regular cash distributions per share exclusive of returns of capital and declared special dividends or special distributions, if any. The Company’s Operating Expense Ratio is calculated by dividing Operating Expenses (i.e. the Company’s operating costs and expenses incurred, as determined in accordance with generally accepted accounting principles), less organizational and offering expenses, Base Management Fees and Incentive Fees owed to the Advisor, shareholder servicing and/or distribution fees, and interest expense, by the Company’s net assets.

The Company’s obligation to make a Reimbursement Payment will automatically become a liability of the Company on the last business day of the applicable calendar quarter, except to the extent the Advisor has waived its right to receive such payment for the applicable quarter. The Reimbursement Payment for any calendar quarter will be paid by the Company to the Advisor in any combination of cash or other immediately available funds as promptly as possible following such calendar quarter and in no event later than 45 days after the end of such calendar quarter. All Reimbursement Payments shall be deemed to relate to the earliest unreimbursed Expense Payments made by the Advisor to the Company within three years prior to the last business day of the calendar quarter in which such Reimbursement Payments obligation is accrued.

For the three months ended March 31, 2024 and March 31, 2023, the Advisor provided $651,775 and $0 of expense support, respectively.

The Company did not have any obligation to make a Reimbursement Payment as of March 31, 2024 or March 31, 2023 under the Expense Support and Conditional Reimbursement Agreement. The cumulative amount incurred from formation that is subject to future potential reimbursement is $3,547,587.

Either the Company or the Advisor may terminate the Expense Support Agreement at any time, with or without notice, without the payment of any penalty, provided that any Expense Payments that have not been reimbursed by us to the Advisor will remain the obligation of the Company following any such termination, subject to the terms of the Expense Support Agreement.

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Investments and Fair Value Measurements

3 Months Ended

Mar. 31, 2024

Investments and Fair Value Measurements [Abstract]

Investments and Fair Value Measurements

Note 4. Investments and Fair Value Measurements

The composition of the Company’s investment portfolio at cost and fair value as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024							December 31, 2023
	Amortized Cost		Fair Value		% of Total Investments at Fair Value			Amortized Cost		Fair Value		% of Total Investments at Fair Value
First lien debt	$	365,232,534	$	369,192,302		91.23	%	$	313,932,958	$	317,768,488		90.18	%
Second lien debt		17,293,298		19,803,414		4.89	%		16,498,048		19,050,076		5.41	%
Equity		14,792,309		15,715,487		3.88	%		14,792,309		15,559,956		4.41	%
Total investments	$	397,318,141	$	404,711,203		100.00	%	$	345,223,315	$	352,378,520		100.00	%

The industry composition of investments based on fair value as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024			December 31, 2023
Commercial Services & Supplies		13.02	%		15.33	%
Trading Companies & Distributors		8.27			9.52
Electrical Equipment		8.15			—
Oil, Gas & Consumable Fuels		7.91			—
Construction & Engineering		7.57			4.17
Health Care Providers & Services		7.36			7.37
Professional Services		5.67			6.33
Hotels, Restaurants & Leisure		4.89			5.69
Aerospace & Defense		4.84			—
Machinery		3.79			3.69
IT Services		2.90			3.63
Textiles, Apparel & Luxury Goods		2.79			3.21
Building Products		2.52			1.06
Electric Utilities		2.39			7.20
Energy Equipment & Services	—				1.41
Independent Power and Renewable Electricity Producers	—				0.80
Electronic Equipment, Instruments & Components	—				0.32
Insurance		2.39			3.16
Distributors		2.10			2.80
Household Products		1.96			4.20
Chemicals		1.61			2.55
Automobile Components		1.42			1.62
Containers & Packaging		1.34			1.98
Diversified Consumer Services		1.23			1.87
Automobiles	—				1.20
Air Freight & Logistics		1.20			1.36
Personal Care Products		0.99			1.12
Metals & Mining		0.74			0.85
Biotechnology		0.74			1.40
Software		0.58			3.48
Leisure Products		0.49			0.56
Health Care Equipment & Supplies		0.40			0.88
Ground Transportation		0.25			0.69
Health Care Technology		0.25			0.28
Gas Utilities		0.24			0.27
Total		100.00	%		100.00	%

The geographic composition of investments at cost and fair value was as follows:

	March 31, 2024										December 31, 2023
	Amortized Cost		Fair Value		% of Total Investments at Fair Value			Fair Value as % of Net Assets			Amortized Cost		Fair Value		% of Total Investments at Fair Value			Fair Value as % of Net Assets
United States	$	393,427,380	$	400,706,843		99.01	%		169.24	%	$	340,353,603	$	347,440,385		98.60	%		156.78	%
Canada		3,890,761		4,004,360		0.99	%		1.69	%		3,885,951		3,954,000		1.12	%		1.78	%
Luxembourg		—		—		—			—			983,761		984,135		0.28	%		0.44	%
Total	$	397,318,141	$	404,711,203		100.00	%		170.93	%	$	345,223,315	$	352,378,520		100.00	%		159.00	%

The following table presents the fair value hierarchy of the Company’s investment portfolio as of March 31, 2024 and December 31, 2023:

	March 31, 2024
Assets	Level 1		Level 2		Level 3		Total
First Lien Debt	$	—	$	153,252,802	$	215,939,500	$	369,192,302
Second Lien Debt		—		—		19,803,414		19,803,414
Subtotal	$	—	$	153,252,802	$	235,742,914	$	388,995,716
Investment measured at net asset value(1)								15,715,487
Total investments							$	404,711,203
	December 31, 2023
Assets	Level 1		Level 2		Level 3		Total
First Lien Debt	$	—	$	179,350,279	$	138,418,209	$	317,768,488
Second Lien Debt	—		—			19,050,076		19,050,076
Subtotal	$	—	$	179,350,279	$	157,468,285	$	336,818,564
Investment measured at net asset value(1)								15,559,956
Total investments							$	352,378,520

The following table presents changes in the fair value of investments for which Level 3 inputs were used to determine the fair value for the three months ended March 31, 2024 and March 31, 2023, respectively:

	First Lien Debt			Second Lien Debt			Total
Balance as of December 31, 2023	$	138,418,209		$	19,050,076		$	157,468,285
Purchases of investments		92,224,386			—			92,224,386
Proceeds from principal pre-payments and sales of investments		(1,505,724	)		—			(1,505,724	)
Payment-in-kind		301,018			681,397			982,415
Net accretion of discount on investments		402,040			113,852			515,892
Net realized gain (loss)		(33,566	)		—			(33,566	)
Net change in unrealized appreciation/(depreciation)		287,980			(41,911	)		246,069
Transfers into Level 3		960,175			—			960,175
Transfers out of Level 3		(15,115,018	)		—			(15,115,018	)
Balance as of March 31, 2024	$	215,939,500		$	19,803,414		$	235,742,914
Net change in unrealized appreciation (depreciation) on Level 3    investments still held at the end of the period	$	287,980		$	(41,911	)	$	246,069
	First Lien Debt			Second Lien Debt			Total
Balance as of February 1, 2023 (commencement of operations)	$	—		$	—		$	—
Purchases of investments		—			—			—
Proceeds from principal pre-payments and sales of investments		—			—			—
Payment-in-kind		—			—			—
Net accretion of discount on investments		—			—			—
Net realized gain (loss)		—			—			—
Net change in unrealized appreciation/(depreciation)		—			—			—
Transfers into Level 3					—			—
Transfers out of Level 3		—			—			—
Balance as of March 31, 2023	$	—		$	—		$	—
Net change in unrealized appreciation (depreciation) on Level 3    investments still held at the end of the period	$	—		$	—		$	—

Level 2 investments are valued using prices obtained from pricing services. The Company had $(14,154,843) and $0 transfers between levels on a net basis during the three months ended March 31, 2024 and the period from February 1, 2023 (commencement of operations) to March 31, 2023, respectively.

The valuation techniques and significant unobservable inputs used in the valuation of Level 3 investments as of March 31, 2024 and December 31, 2023 were as follows:

Investment Type	Fair Value as of March 31, 2024		Valuation Technique	Unobservable Input	Range	Weighted Average (2)
Second Lien Debt	$	19,803,414	Discounted cash flow	Discount rate	15.50%	15.50%
First Lien Debt		191,311,357	Discounted cash flow	Discount rate	10.15% - 15.00%	11.81%
		8,576,621	Market quotations	Broker quoted price	86.00 - 100.50		98.35
		16,051,522	Transactional Value (1)	N/A	N/A	N/A
	$	235,742,914

(1)Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

(2)Unobservable inputs were weighted by the relative fair value of investments.

Investment Type	Fair Value as of December 31, 2023		Valuation Technique	Unobservable Input	Range	Weighted Average (2)
Second Lien Debt	$	19,050,076	Discounted cash flow	Discount rate	15.50%	15.50%
First Lien Debt		79,221,269	Discounted cash flow	Discount rate	9.86% - 13.44%	10.95%
		18,288,599	Market quotations	Broker quoted price	95.75 - 100.50		98.35
		40,908,341	Transactional Value(1)	N/A	N/A	N/A
	$	157,468,285

(1)Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

(2)Unobservable inputs were weighted by the relative fair value of investments.

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Borrowing

3 Months Ended

Mar. 31, 2024

Borrowing [Abstract]

Borrowing

Note 5. Borrowing

On April 20, 2023, KLCC SPV GS1 LLC, a Delaware limited liability company and newly formed subsidiary of the Company, entered into a credit agreement with Goldman Sachs Bank USA (the “Secured Credit Facility”). The maximum principal amount of the Secured Credit Facility as of March 31, 2024 is $300 million, which can be drawn in U.S. dollars subject to certain conditions. The maturity date of the Secured Credit Facility is May 1, 2028.

Amounts drawn under the Secured Credit Facility will bear interest at Term SOFR plus a margin. Advances used to finance the purchase or origination of loans under the Secured Credit Facility initially bear interest at Term SOFR plus a spread of (i) if the percentage of loans that are broadly syndicated loans (“BSL”) is 60% or higher on each day during such interest period, 3.25%, (ii) if the percentage of loans that are BSL is less than 60% during any day during such interest period but higher than 30% on each day during such interest period, 3.35% and (iii) in relation to either (A) any period in the 18 months following the closing of the Secured Credit Facility during which the percentage of loans that are BSL is less than 30% on any day during such interest period or (B) any interest period that occurs more than 18 months following the closing of the Secured Credit Facility, 3.50%. In addition, under the Secured Credit Facility, KLCC SPV GS1 LLC is required to utilize a minimum percentage of the financing commitments (such amount, the “Minimum Utilization Amount”), with unused amounts below such Minimum Utilization Amount accruing a fee (“Minimum Utilization Fee”). On November 14, 2023, the Periods and Target Utilization Percentages set forth in the Minimum Utilization Payment Table in the Secured Credit Facility were amended. Such amendments were not material to the Company’s financial statements. As of March 31, 2024, there were no unused amounts subject to the Minimum Utilization Fee. Additionally, KLCC SPV GS1 LLC is required to pay non-utilization fees (“Non-Utilization Fees”), on an amount equal to the excess (if any) of (x) the Adjusted Maximum Facility Amount in effect on such day over (y) the greater of the Minimum Utilization Amount and the Loan Amount on such day at a rate of 1.00% per annum. Each defined term without definition in this paragraph shall have the meaning ascribed to such term in the Secured Credit Facility.

The Secured Credit Facility contains customary covenants, including certain limitations on the activities of KLCC SPV GS1 LLC, including limitations on incurrence of incremental indebtedness, and customary events of default. The Secured Credit Facility is secured by a perfected first priority security interest in the assets of KLCC SPV GS1 LLC and on any payments received by KLCC SPV GS1 LLC in respect of those assets. Assets pledged to the lenders under the Secured Credit Facility will not be available to pay the other debts of the Company. As of March 31, 2024, the Company was in compliance with all covenants and other requirements under the Secured Credit Facility.

The estimated fair value of the Secured Credit Facility approximated the principal value of $255,000,000 on the consolidated statement of assets and liabilities as of March 31, 2024 and is categorized as Level III under the ASC 820 fair value hierarchy.

Borrowings of KLCC SPV GS1 LLC are considered borrowings of the Company for purposes of complying with the asset coverage requirements under the 1940 Act.

The following table summarizes the average debt outstanding and the interest rates on the Secured Credit Facility for the three months ended March 31, 2024:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Average Debt Outstanding	$	222,112,038		$	—
Effective Interest Rate		9.88	%		—
Weighted Average Interest Rate (1)		8.80	%		—

(1)The calculation of weighted average interest rate does not include minimum utilization fees, non-utilization fees or the amortization of deferred financing costs.

For the three months ended March 31, 2024, the components of interest expense related to the Secured Credit Facility were as follows:

	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Borrowing interest expense	$	4,872,781	$	—
Minimum utilization fee		261,056		—
Non-utilization fees		166,736		—
Amortization of deferred financing costs		171,595		—
Total interest and debt financing expense	$	5,472,168	$	—

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Note 6: Commitments and Contingencies

In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. As of March 31, 2024, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications.

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2024, management is not aware of any pending or threatened material litigation.

The Company may, from time to time, enter into commitments to fund investments. As of March 31, 2024, the Company had the following outstanding commitments to fund investments in current portfolio companies:

	March 31, 2024		December 31, 2023
Unfunded delayed draw term loan commitments	$	12,917,647	$	8,336,031
Unfunded revolver obligations		8,557,078		6,067,963
Total Unfunded	$	21,474,725	$	14,403,994

The Consolidated Schedule of Investments include certain delayed draw and revolving loan facilities with unfunded balances at March 31, 2024 and December 31, 2023, as follows:

Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of March 31, 2024
The Action Environmental Group, Inc.	Delayed Draw Term Loan	10/24/2030		130,435		-
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		744
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(1,667	)
BP Loenbro Holdings Inc	Delayed Draw Term Loan	2/1/2029		1,834,862		(13,310	)
BP Loenbro Holdings Inc	Revolver	2/1/2029		1,834,862		(26,619	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(65,422	)
MEI Buyer LLC	Revolver	6/29/2029		2,650,602		(71,964	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(34,487	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,222	)
Sales Performance International, LLC	Revolver	8/24/2028		2,303,030		(43,067	)
RSC Acquisition, Inc.	Delayed Draw Term Loan	11/1/2029		1,117,143		5,586
Ryan, LLC	Delayed Draw Term Loan	11/14/2030		190,476		835
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		900,548		(14,589	)
Voltagrid LLC	Delayed Draw Term Loan	9/1/2025		3,453,750		(132,451	)
Total Unfunded Balances			$	21,474,725	$	(430,633	)

Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of December 31, 2023
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		(927	)
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(3,333	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(48,313	)
MEI Buyer LLC	Revolver	6/29/2029		2,602,410		(73,778	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(17,354	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,430	)
RSC Acquisition Inc	Delayed Draw Term Loan	11/1/2029		1,638,571		(16,386	)
Ryan LLC	Delayed Draw Term Loan	11/14/2030		190,476		417
Sales Performance International, LLC	Revolver	8/24/2028		1,696,970		(32,893	)
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		1,086,115		(46,160	)
The Action Environmental Group	Delayed Draw Term Loan	10/24/2030		130,435		326
Total Unfunded Balances			$	14,403,994	$	(272,831	)

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Net Assets

3 Months Ended

Mar. 31, 2024

Net Assets [Abstract]

Net Assets

Note 7. Net Assets

Subscriptions

The Company is a non-exchange traded, perpetual-life BDC, which is a BDC whose shares are not listed for trading on a stock exchange or other securities market. We offer on a continuous basis our Common Shares (the “Private Offering”), pursuant to the terms set forth in the Company’s Confidential Private Placement Memorandum and subscription agreements that we enter into with investors in connection with the Private Offering (each, a “Subscription Agreement”). Although the Common Shares in the Private Offering are being sold under the exemption provided by Section 4(a)(2) of the Securities Act of 1933 as amended (the “Securities Act”) only to investors that are “accredited investors” in accordance with Rule 506 of Regulation D promulgated under the Securities Act, and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made, there can be no assurance that we will not need to suspend our continuous offering for various reasons, including but not limited to regulatory review from the SEC and various state regulators, to the extent applicable.

The Company seeks to raise equity capital through private placements on a continuous basis through one or more closings (“Closings”) at which the Company will accept funds from investors in connection with such investors’ purchases of Common Shares (the first such Closing the “Initial Closing” and each subsequent closing a “Subsequent Closing”). The Initial Closing occurred on February 1, 2023 (the “Initial Closing Date”). Each Subsequent Closing will generally occur on a monthly basis on the last calendar day of the month or on a date as determined by the Company or the Advisor in its sole discretion. Each investor is required to fully fund its subscription amount by wire to the Company’s bank account on or before the last business day of the month of its respective Closing. Any shareholder that seeks to purchase additional Common Shares will be required to enter into an additional, short form Subscription Agreement with the Company (a “Short Form Subscription Agreement”). For the avoidance of doubt, each shareholder that enters into a Short Form Subscription Agreement will be required to fully fund its additional subscription amount by wire to the Company’s bank account on or before the last business day of the month of its respective Closing. In exchange for its subscription amount, each investor will receive an amount of Common Shares equal to its subscription amount divided by the applicable price per Common Share (“Price Per Common Share”). The Price Per Common Share shall mean the Company’s then-calculated net asset value per Share determined by the Company as of a date within 48 hours of the Closing Date, which will be determined in accordance with the limitations under Section 23 of the 1940 Act. The Company may set the per-Common Share price above the then-calculated net asset value per Common Share based on a variety of factors, including the total amount of the Company’s organizational and other expenses. The minimum investment for any Subscription Agreement and any Short Form Subscription Agreement is $10,000.

For the three months ended March 31, 2023 and March 31, 2024, related parties purchased 326,554 Common Shares of the Company for aggregate proceeds of $6,750,000 and 40,100 Common Shares of the Company for aggregate proceeds of $802,000, respectively.

The following tables summarizes the total Common Shares issued and proceeds received during the three months ended March 31, 2024 and March 31, 2023, respectively:

Date of Closing	Common Shares Issued		NAV per Common Share		Subscription Price Per Common Share		Proceeds Received
January 1, 2024		94,983	$	20.53	$	20.53	$	1,950,000
February 1, 2024		241,313	$	20.72	$	20.72	$	5,000,000
March 1, 2024		10,206	$	20.87	$	20.87	$	213,000
Totals		346,502					$	7,163,000

Date of Closing	Common Shares Issued		NAV per Common Share		Subscription Price Per Common Share		Proceeds Received
February 1, 2023		4,037,850	$	20.00	$	20.00	$	80,757,000
March 1, 2023		50,251	$	19.80	$	19.90	$	1,000,000
March 31, 2023		6,314,992	$	19.78	$	19.81	$	125,100,000
		10,403,093					$	206,857,000

Repurchases

No investor has the right to require the Company to redeem his, her or its Common Shares. Subject to market conditions and the Advisor’s commercially reasonable judgment, the Company intends from time to time to offer to repurchase Common Shares pursuant to written tenders by shareholders as further described herein. The Advisor expects that, generally, it will cause the Company to offer to repurchase Common Shares from shareholders quarterly, with such repurchases to occur as of each March 31, June 30, September 30 and December 31 or the next business day, as applicable. Subject to market conditions, the Advisor will in its commercially reasonable judgment cause the Company to repurchase Common Shares from shareholders on a quarterly basis in an amount not to exceed 5.0% of the Company’s net asset value; provided, however, that the Advisor, subject to the Board’s discretion and approval, shall cause the Company to repurchase Common Shares from shareholders in an amount at least equal to 10.0% of the Company’s net asset value in respect of the fourth calendar quarter of each of the eighth and tenth calendar years following the Initial Closing Date. The Advisor may in its commercially reasonable judgment seek to provide liquidity to shareholders through one or more methods, including conducting periodic tender offers or winding down the Company.

Prior to any Liquidity Event (as defined below), and subject to market conditions and the Advisor’s commercially reasonable judgment, the Company intends to offer quarterly repurchases, with the first quarterly repurchase offer having commenced on the first business day of the second quarter of 2023. A “Liquidity Event” is defined as including (1) an IPO or Exchange Listing, or (2) a Sale Transaction. A “Sale Transaction” means (a) the sale of all or substantially all of the Company’s assets to, or other liquidity event with, another entity or (b) a transaction or series of transactions, including by way of merger, consolidation, recapitalization, reorganization, or sale of stock in each case for consideration of either cash and/or publicly listed securities of the acquirer. Thereafter, each repurchase offer will generally commence approximately 90 days prior to the applicable quarter-end repurchase date. With respect to any such repurchase offer, investors tendering shares must do so by a date specified in the notice describing the terms of the repurchase offer.

There is no minimum portion of a shareholder’s Common Shares which must be repurchased in any repurchase offer. The Company has no obligation to repurchase Common Shares at any time; any such repurchases will only be made at such times, in such amounts and on such terms as may be determined by the Advisor, in its sole discretion. In determining whether the Company should offer to repurchase Common Shares, the Advisor will consider the timing of such an offer, as well as a variety of operational, business and economic factors.

If a quarterly repurchase offer is oversubscribed by shareholders who tender Common Shares, the Company will repurchase a pro rata portion by value of the Common Shares tendered by each shareholder, extend the repurchase offer, or take any other action with respect to the repurchase offer permitted by applicable law. The Company also has

the right to repurchase all of a shareholder’s Common Shares at any time if the aggregate value of such shareholder’s Common Shares is, at the time of such compulsory repurchase, less than the required minimum account balance applicable for the Company. In addition, the Company has the right to repurchase Common Shares if the Company determines that the repurchase is in the best interest of the Company or upon the occurrence of certain events specified in the Subscription Agreement.

Repurchases will generally be paid in cash. Any shareholder that submits a repurchase request in excess of $25 million may elect to receive its repurchase proceeds in kind by checking the corresponding box on the tender offer form. The Company will seek to distribute a pro rata slice of the entire portfolio to such shareholder to the extent practicable.

On February 29, 2024, the Company commenced its quarterly tender offer to purchase up to 5.0% of the Company’s Common Shares outstanding as of December 31, 2023 (539,263 Common Shares) that are tendered by Shareholders by 11:59 p.m., Eastern Time, on March 29, 2024 and not withdrawn. No shareholders tendered by the deadline.

Distributions

The Company intends to make quarterly distributions to shareholders. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. Distributions will be made to shareholders at such times and in such amounts as determined by the Board. The Company may pay distributions to its Shareholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Shareholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Shareholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods.

In addition, the Company has adopted a dividend reinvestment plan (“DRP”), pursuant to which each shareholder will receive dividends in the form of additional Common Shares unless they notify the Company that they instead desire to receive cash or a combination of cash and Common Shares as set forth below. If a shareholder receives dividends in the form of Common Shares, dividend proceeds that otherwise would have been distributed in cash will be retained by the Company for reinvestment. Shareholders who receive dividends and other distributions in the form of Common Shares generally are subject to the same U.S. federal tax consequences as investors who elect to receive their distributions in cash; however, since their cash dividends will be reinvested, those investors will not receive cash with which to pay any applicable taxes on re-invested dividends. A shareholder may elect to receive dividends and other distributions in cash or a combination of cash and Common Shares by notifying the Company in the manner set forth in the shareholder’s Subscription Agreement at least 5 business days prior to the dividend or distribution declaration date fixed by the Board for such dividend. If such notice is received by the Company less than 5 business days prior to the relevant dividend or distribution declaration date, then that dividend will be paid in the form of Common Shares and any subsequent dividends will be paid in cash or a combination of cash and Common Shares.

The following table summarizes the distributions paid and Common Shares issued pursuant to the DRP for the three months ended March 31, 2024:

Date Declared	Record Date	Payment Date	Amount Per Share		Distribution Declared		DRP Shares Issued		Value of DRP Shares Issued
March 26, 2024	March 26, 2024	March 28, 2024	$	0.57	$	6,414,447		195,395	$	4,077,919
December 29, 2023	December 31, 2023	January 30, 2024	$	0.04	$	431,411		12,826	$	263,317
November 10, 2023	December 31, 2023	January 30, 2024	$	0.52	$	5,608,339		166,736	$	3,423,081
					$	12,454,197			$	7,764,317

Of the total distributions paid during the three months ended March 31, 2024, $4,689,880 was distributed in cash, of which $2,353,352 was payable as of December 31, 2023.

There were no distributions declared for the three months ended March 31, 2023.

The Company may fund its cash distributions to shareholders from any source of funds available to the Company, including but not limited to offering proceeds, net investment income from operations, capital gains proceeds from the sale of assets, dividends or other distributions paid to it on account of preferred and common equity investments in portfolio companies and expense support from the Advisor, which is subject to recoupment.

For the three months ended March 31, 2024, a portion of the Company’s distributions resulted from expense support from the Advisor, and future distributions may result from expense support from the Advisor, each of which is subject to repayment by the Company within three years from the date of payment. Shareholders should understand that any such distribution is not based solely on the Company’s investment performance, and can only be sustained if the Company achieves positive investment performance in future periods and/or the Advisor continues to provide expense support. Shareholders should also understand that the Company’s future repayments of expense support will reduce the distributions that they would otherwise receive. There can be no assurance that the Company will achieve the performance necessary to sustain these distributions, or be able to pay distributions at all.

Sources of distributions, other than net investment income and realized gains on a GAAP basis, include required adjustments to GAAP net investment income in the current period to determine taxable income available for distributions. The following table presents the sources of distributions on a GAAP basis that the Company declared on its Common Shares for the three months ended March 31, 2024:

	Per Share		Amount
Net investment income		0.47	$	5,359,196
Net realized gains		0.09		1,046,710
Distributions in excess of net investment income		0.00		8,541
Total		0.56	$	6,414,447

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Financial Highlights

3 Months Ended

Mar. 31, 2024

Financial Highlights [Abstract]

Financial Highlights

Note 8. Financial Highlights

The following are financial highlights for the three months ended March 31, 2024 and March 31, 2023, respectively:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Per Share Data:
Net asset value, beginning of period	$	20.55		$	20.00
Results of operations:
Net investment income (loss)(1)		0.47		(0.00)			(3)
Net unrealized and realized gain (loss)(2)		0.13			(0.20	)
Net increase (decrease) in net assets resulting from operations		0.60			(0.20	)
Distribution declared (4)		(0.57	)		—
Total increase (decrease) in net assets		0.03			(0.20	)
Net asset value, end of period	$	20.58		$	19.80
Total return based on NAV (5)		2.92	%		(1.00	)%
Shares outstanding, end of period		11,506,727			10,403,594
Ratios and supplemental data:
Net assets, end of period	$	236,772,553		$	205,997,606
Weighted-average net assets		233,893,490			54,675,485
Weighted-average shares outstanding		11,288,960			2,735,010
Ratio of net expenses to average net assets (6)		13.87	%		9.53	%
Ratio of net expenses before voluntary waivers to average net assets		13.87	%		9.76	%
Ratio of net investment income to average net assets (6)		8.68	%		0.35	%
Portfolio turnover		17.09	%		0.29	%
Asset Coverage Ratio (7)		192.85	%		—

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

(2)The amount shown for a Common Share outstanding does not correspond with the aggregate realized and unrealized gain (loss) on investments for the period due to the timing of capital share transactions of Common Shares in relation to fluctuating market values of investments of the Company.

(3)Rounds to less than (0.01)

(4)Distributions are based on the number of shares outstanding on the date the distribution was declared.

(5)Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period. Total return is not annualized.

(6)Annualized, with the exception of certain non-recurring expenses.

(7)Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period.

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Subsequent Events

3 Months Ended

Mar. 31, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 9. Subsequent Events

The Company’s management has evaluated subsequent events through the date of issuance of these consolidated financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements other than those disclosed below.

On April 5, 2024, Kennedy Lewis Management accepted a $200,000,000 aggregate capital commitment from California State Teachers' Retirement System into a newly formed feeder fund that will invest substantially all its investible assets in the Company.

On May 13, 2024, the Board of Trustees declared a distribution of $0.58 per share for the second quarter of 2024, payable on June 26, 2024 to shareholders of record on May 13, 2024.

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Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2024

Significant Accounting Policies [Abstract]

Industry Reclassification

Industry Reclassification

During the quarter ended March 31, 2024, the Company changed the investment industry classification from those provided by Moody's to those provided by S&P. The Consolidated Schedule of Investments as of December 31, 2023, as well as the industry composition of investments based on fair value as of December 31, 2023 disclosed in Note 4 - Investments and Fair Value Measurements, have been reclassified to conform to the classifications used to prepare the consolidated financial statements as of and for the period ended March 31, 2024.

Basis of Presentation

Basis of Presentation

The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Company is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies. These consolidated financial statements reflect adjustments that in the opinion of management are necessary for the fair statement of the consolidated financial statements presented herein.

Use of Estimates

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Changes in the economic environment, financial markets, and other metrics used in determining these estimates could cause actual results to differ from the estimates used, and the differences could be material.

Consolidation

Consolidation

In accordance with U.S. GAAP guidance on consolidation, the Company will generally not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company’s wholly-owned subsidiary, KLCC SPV GS1 LLC, in its consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation.

Cash, Cash Equivalents and Restricted Cash

Cash, Cash Equivalents and Restricted Cash

Cash consists of deposits held at a custodian bank. Cash equivalents consists of money market investments with original maturities of three months that are readily convertible to cash and are classified as Level 1 investments. Cash and cash equivalents are held at major financial institutions and, at times, may exceed the insured limits under applicable law. Cash and cash equivalents are carried at cost, which approximates fair value. As of March 31, 2024 and December 31, 2023, we had $56,233,451 and $47,844,154 of restricted cash and cash equivalents related to collateral held for the Secured Credit Facility (as defined below) and presented in the statements of assets and liabilities. This is further discussed in Note 5.

Realized and Unrealized Gains/Losses

Realized and Unrealized Gains/Losses

Investment transactions and the related revenue and expenses are recorded on a trade-date basis. Realized gains or losses are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the amortized cost basis of the investment using the specific identification method. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period.

Interest and Dividend Income

Interest and Dividend Income

Interest and dividend income is recorded on an accrual basis. Interest income includes the accretion of discounts and amortizations of premiums. The amortized cost of debt investments represents the original cost, including fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income.

Fee Income

Fee Income

In the general course of its business, the Company receives certain fees, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as fee income in investment income when earned.

PIK Income

PIK Income

Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK represents accrued interest that is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest income. Because the Company intends to elect to be treated as a RIC for U.S. federal income purposes under Subchapter M of the Code, this non-cash source of income must be paid out to shareholders in the form of distributions, even though the Company has not yet collected the cash.

Non-Accrual Loans

Non-Accrual Loans

Loans or debt securities are placed on non-accrual status when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest are paid and, in management’s judgment, principal and interest payments are likely to remain current. The Company may make exceptions to this treatment if a loan has sufficient collateral value and is in the process of collection. As of March 31, 2024 and December 31, 2023, there were no loans placed on non-accrual status.

Deferred Financing Costs

Deferred Financing Costs

Deferred financing costs represent fees and other direct costs incurred in connection with the Company’s borrowings. These amounts are capitalized and amortized over the contractual term of the borrowing.

Receivable for Investments Sold and Payable for Investments Purchased

Receivable for Investments Sold and Payable for Investments Purchased

Receivable for investments sold and payable for investments purchased represent unsettled investments.

Valuation of Portfolio Investments

Valuation of Portfolio Investments

In accordance with Rule 2a-5 under the 1940 Act, the Board has designated the Advisor as the Company’s “Valuation Designee”. The Advisor has established a Valuation Committee that is responsible for determining in good faith the fair value of the Company’s investments in instances where there is no readily available market quotation. A readily available market quotation is not expected to exist for most of the investments in the Company’s portfolio, and the Company values these portfolio investments at fair value as determined in good faith by the Valuation Designee on a quarterly basis. Investments for which market quotations are readily available may be priced by independent pricing services. The Company has retained an external, independent valuation firm to provide data and valuation analyses on the Company’s portfolio companies.

The Advisor values the Company’s investments based on the type of financial instrument as outlined below:

Securities that are listed on a securities, commodities or futures exchange or market (including such securities when traded in the after‐hours market), will be valued (i) at their last sales prices on the date of determination on the primary exchange on which such securities were traded on such date, or (ii) at their last sales prices on the consolidated tape if such securities on the primary exchange on which such securities were traded on such date were reported on the consolidated tape, or (iii) in the event that the date of determination is not a date upon which an exchange was open for trading, on the date on which such exchange was previously open but not more than 10 days prior to the date of determination.

Securities that are not listed on an exchange but are traded over‐the‐counter will be valued at representative “bid” quotations if held long and representative “asked” quotations if held short, unless included in the NASDAQ National Market System, in which case they will be valued based upon their last sales prices (if such prices are available); provided that if the last sales price of a security does not fall between the last “bid” and “asked” price for such security on such date, the Advisor will value such security at the mean between the last “bid” and “asked” price for such security on such date. Securities not denominated in U.S. dollars will be translated into U.S. dollars at prevailing exchange rates as the Advisor may reasonably determine. All other investments will be assigned such value as the Advisor may reasonably determine. When available, quotations from brokers or pricing services will be considered in the valuation process. For example, the Advisor will utilize indicative prices from brokers or pricing services to determine the fair value of bonds and bank debt and may internally validate the quotes obtained or utilize the mean of the bid (if long) and ask (if short) quotes obtained. For these quotes to be considered for valuation purposes they must be sent directly from the brokers to the Advisor. If quotations are not readily available through pricing services or brokers for a security, financial instrument or other property, the Advisor will determine its value in such a manner as the Advisor, in its sole discretion, reasonably determines. This is generally achieved by engaging a third‐party valuation firm to value such securities and provide a range of values for each position. The Advisor will then mark the position within that range.

The determination of fair value generally considers factors such as comparisons to public companies, comparable transactions, markets in which a company does business, the nature and realizable value of any collateral, discounted cash flows, earnings and ability to make payments, and market yields. If an event such as a purchase, sale, or public offering occurs, the Advisor may consider the pricing indicated by such event to corroborate its internal valuation.

FASB ASC Topic 820: Fair Value Measurements and Disclosures (“ASC 820”) specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level of information used in the valuation.

The Company classifies the inputs used to measure fair values into the following hierarchy:

•Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible to the Company at the measurement date.

•Level 2—Valuations are based on similar assets or liabilities in active markets, or quoted prices identical or similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable.

•Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuation techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The Advisor’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and it considers factors specific to the investment.

Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Advisor applies the valuation policy approved by the Board that is consistent with ASC 820. Consistent with the valuation policy, the Advisor evaluates the source of inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When a security is valued based on prices provided by reputable dealers or pricing services (that is, broker quotes), the Advisor subjects those prices to various additional criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Advisor reviews pricing provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Some additional factors considered include the number of prices obtained as well as an assessment as to their quality, such as the depth of the relevant market relative to the size of the Company’s position.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material.

In addition, changes in the market environment, including the impact of changes in broader market indices and credit spreads, and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein.

Organization and Offering Costs

Organization and Offering Costs

Organizational costs to establish the Company are charged to expense as incurred. These expenses consist primarily of legal fees and other costs of organizing the Company.

Offering costs in connection with the offering of Common Shares of the Company are capitalized as a deferred charge and amortized to expense on a straight-line basis over 12 months. Initial offering costs were amortized beginning February 1, 2023, the commencement of operations.

Under the Advisory Agreement and the Administration Agreement, the Company, either directly or through reimbursements to the Advisor or its affiliates, is responsible for its organization and offering costs. For the three months ended March 31, 2024 and March 31, 2023, the Advisor and its affiliates incurred organization and offering costs of $0 and $328,240, respectively, on behalf of the Company. As of March 31, 2024, the total amount owed to the Company from the Advisor pursuant to the Expense Support and Conditional Reimbursement Agreement is included in Due from Advisor in the Statement of Assets and Liabilities.

Income Taxes

Income Taxes

The Company intends to elect to be treated as a RIC. So long as the Company maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it timely distributes to its shareholders as dividends. Rather, any tax liability related to income earned and distributed would represent obligations of the Company’s investors and would not be reflected in the consolidated financial statements of the Company.

The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more likely than not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more likely than not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof. The Company did not record any tax provision in the current period. To qualify for and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must timely distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses.

In addition, based on the excise tax distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of (1) 98% of its ordinary income for the calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in prior years. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed.

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Investments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Investments and Fair Value Measurements [Abstract]

Investment Portfolio at Cost and Fair Value

The composition of the Company’s investment portfolio at cost and fair value as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024							December 31, 2023
	Amortized Cost		Fair Value		% of Total Investments at Fair Value			Amortized Cost		Fair Value		% of Total Investments at Fair Value
First lien debt	$	365,232,534	$	369,192,302		91.23	%	$	313,932,958	$	317,768,488		90.18	%
Second lien debt		17,293,298		19,803,414		4.89	%		16,498,048		19,050,076		5.41	%
Equity		14,792,309		15,715,487		3.88	%		14,792,309		15,559,956		4.41	%
Total investments	$	397,318,141	$	404,711,203		100.00	%	$	345,223,315	$	352,378,520		100.00	%

The industry composition of investments based on fair value as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024			December 31, 2023
Commercial Services & Supplies		13.02	%		15.33	%
Trading Companies & Distributors		8.27			9.52
Electrical Equipment		8.15			—
Oil, Gas & Consumable Fuels		7.91			—
Construction & Engineering		7.57			4.17
Health Care Providers & Services		7.36			7.37
Professional Services		5.67			6.33
Hotels, Restaurants & Leisure		4.89			5.69
Aerospace & Defense		4.84			—
Machinery		3.79			3.69
IT Services		2.90			3.63
Textiles, Apparel & Luxury Goods		2.79			3.21
Building Products		2.52			1.06
Electric Utilities		2.39			7.20
Energy Equipment & Services	—				1.41
Independent Power and Renewable Electricity Producers	—				0.80
Electronic Equipment, Instruments & Components	—				0.32
Insurance		2.39			3.16
Distributors		2.10			2.80
Household Products		1.96			4.20
Chemicals		1.61			2.55
Automobile Components		1.42			1.62
Containers & Packaging		1.34			1.98
Diversified Consumer Services		1.23			1.87
Automobiles	—				1.20
Air Freight & Logistics		1.20			1.36
Personal Care Products		0.99			1.12
Metals & Mining		0.74			0.85
Biotechnology		0.74			1.40
Software		0.58			3.48
Leisure Products		0.49			0.56
Health Care Equipment & Supplies		0.40			0.88
Ground Transportation		0.25			0.69
Health Care Technology		0.25			0.28
Gas Utilities		0.24			0.27
Total		100.00	%		100.00	%

The geographic composition of investments at cost and fair value was as follows:

	March 31, 2024										December 31, 2023
	Amortized Cost		Fair Value		% of Total Investments at Fair Value			Fair Value as % of Net Assets			Amortized Cost		Fair Value		% of Total Investments at Fair Value			Fair Value as % of Net Assets
United States	$	393,427,380	$	400,706,843		99.01	%		169.24	%	$	340,353,603	$	347,440,385		98.60	%		156.78	%
Canada		3,890,761		4,004,360		0.99	%		1.69	%		3,885,951		3,954,000		1.12	%		1.78	%
Luxembourg		—		—		—			—			983,761		984,135		0.28	%		0.44	%
Total	$	397,318,141	$	404,711,203		100.00	%		170.93	%	$	345,223,315	$	352,378,520		100.00	%		159.00	%

Fair Value Hierarchy of Investments

The following table presents the fair value hierarchy of the Company’s investment portfolio as of March 31, 2024 and December 31, 2023:

	March 31, 2024
Assets	Level 1		Level 2		Level 3		Total
First Lien Debt	$	—	$	153,252,802	$	215,939,500	$	369,192,302
Second Lien Debt		—		—		19,803,414		19,803,414
Subtotal	$	—	$	153,252,802	$	235,742,914	$	388,995,716
Investment measured at net asset value(1)								15,715,487
Total investments							$	404,711,203
	December 31, 2023
Assets	Level 1		Level 2		Level 3		Total
First Lien Debt	$	—	$	179,350,279	$	138,418,209	$	317,768,488
Second Lien Debt	—		—			19,050,076		19,050,076
Subtotal	$	—	$	179,350,279	$	157,468,285	$	336,818,564
Investment measured at net asset value(1)								15,559,956
Total investments							$	352,378,520

Fair Value of Investments

The following table presents changes in the fair value of investments for which Level 3 inputs were used to determine the fair value for the three months ended March 31, 2024 and March 31, 2023, respectively:

	First Lien Debt			Second Lien Debt			Total
Balance as of December 31, 2023	$	138,418,209		$	19,050,076		$	157,468,285
Purchases of investments		92,224,386			—			92,224,386
Proceeds from principal pre-payments and sales of investments		(1,505,724	)		—			(1,505,724	)
Payment-in-kind		301,018			681,397			982,415
Net accretion of discount on investments		402,040			113,852			515,892
Net realized gain (loss)		(33,566	)		—			(33,566	)
Net change in unrealized appreciation/(depreciation)		287,980			(41,911	)		246,069
Transfers into Level 3		960,175			—			960,175
Transfers out of Level 3		(15,115,018	)		—			(15,115,018	)
Balance as of March 31, 2024	$	215,939,500		$	19,803,414		$	235,742,914
Net change in unrealized appreciation (depreciation) on Level 3    investments still held at the end of the period	$	287,980		$	(41,911	)	$	246,069
	First Lien Debt			Second Lien Debt			Total
Balance as of February 1, 2023 (commencement of operations)	$	—		$	—		$	—
Purchases of investments		—			—			—
Proceeds from principal pre-payments and sales of investments		—			—			—
Payment-in-kind		—			—			—
Net accretion of discount on investments		—			—			—
Net realized gain (loss)		—			—			—
Net change in unrealized appreciation/(depreciation)		—			—			—
Transfers into Level 3					—			—
Transfers out of Level 3		—			—			—
Balance as of March 31, 2023	$	—		$	—		$	—
Net change in unrealized appreciation (depreciation) on Level 3    investments still held at the end of the period	$	—		$	—		$	—

Valuation Techniques and Significant Unobservable Inputs of Level 3 Investments

The valuation techniques and significant unobservable inputs used in the valuation of Level 3 investments as of March 31, 2024 and December 31, 2023 were as follows:

Investment Type	Fair Value as of March 31, 2024		Valuation Technique	Unobservable Input	Range	Weighted Average (2)
Second Lien Debt	$	19,803,414	Discounted cash flow	Discount rate	15.50%	15.50%
First Lien Debt		191,311,357	Discounted cash flow	Discount rate	10.15% - 15.00%	11.81%
		8,576,621	Market quotations	Broker quoted price	86.00 - 100.50		98.35
		16,051,522	Transactional Value (1)	N/A	N/A	N/A
	$	235,742,914

(1)Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

(2)Unobservable inputs were weighted by the relative fair value of investments.

Investment Type	Fair Value as of December 31, 2023		Valuation Technique	Unobservable Input	Range	Weighted Average (2)
Second Lien Debt	$	19,050,076	Discounted cash flow	Discount rate	15.50%	15.50%
First Lien Debt		79,221,269	Discounted cash flow	Discount rate	9.86% - 13.44%	10.95%
		18,288,599	Market quotations	Broker quoted price	95.75 - 100.50		98.35
		40,908,341	Transactional Value(1)	N/A	N/A	N/A
	$	157,468,285

(1)Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

(2)Unobservable inputs were weighted by the relative fair value of investments.

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Borrowing (Tables)

3 Months Ended

Mar. 31, 2024

Borrowing [Abstract]

Summary of Average Debt Outstanding and Interest Rates on Secured Credit Facility

The following table summarizes the average debt outstanding and the interest rates on the Secured Credit Facility for the three months ended March 31, 2024:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Average Debt Outstanding	$	222,112,038		$	—
Effective Interest Rate		9.88	%		—
Weighted Average Interest Rate (1)		8.80	%		—

(1)The calculation of weighted average interest rate does not include minimum utilization fees, non-utilization fees or the amortization of deferred financing costs.

Interest Expense Related to Secured Credit Facility

For the three months ended March 31, 2024, the components of interest expense related to the Secured Credit Facility were as follows:

	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Borrowing interest expense	$	4,872,781	$	—
Minimum utilization fee		261,056		—
Non-utilization fees		166,736		—
Amortization of deferred financing costs		171,595		—
Total interest and debt financing expense	$	5,472,168	$	—

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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies [Abstract]

Outstanding Commitments to Fund Investments in Current Portfolio

The Company may, from time to time, enter into commitments to fund investments. As of March 31, 2024, the Company had the following outstanding commitments to fund investments in current portfolio companies:

	March 31, 2024		December 31, 2023
Unfunded delayed draw term loan commitments	$	12,917,647	$	8,336,031
Unfunded revolver obligations		8,557,078		6,067,963
Total Unfunded	$	21,474,725	$	14,403,994

Schedule of Investments Include Certain Delayed Draw and Revolving Loan Facilities with Unfunded Balances

The Consolidated Schedule of Investments include certain delayed draw and revolving loan facilities with unfunded balances at March 31, 2024 and December 31, 2023, as follows:

Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of March 31, 2024
The Action Environmental Group, Inc.	Delayed Draw Term Loan	10/24/2030		130,435		-
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		744
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(1,667	)
BP Loenbro Holdings Inc	Delayed Draw Term Loan	2/1/2029		1,834,862		(13,310	)
BP Loenbro Holdings Inc	Revolver	2/1/2029		1,834,862		(26,619	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(65,422	)
MEI Buyer LLC	Revolver	6/29/2029		2,650,602		(71,964	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(34,487	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,222	)
Sales Performance International, LLC	Revolver	8/24/2028		2,303,030		(43,067	)
RSC Acquisition, Inc.	Delayed Draw Term Loan	11/1/2029		1,117,143		5,586
Ryan, LLC	Delayed Draw Term Loan	11/14/2030		190,476		835
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		900,548		(14,589	)
Voltagrid LLC	Delayed Draw Term Loan	9/1/2025		3,453,750		(132,451	)
Total Unfunded Balances			$	21,474,725	$	(430,633	)

Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of December 31, 2023
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		(927	)
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(3,333	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(48,313	)
MEI Buyer LLC	Revolver	6/29/2029		2,602,410		(73,778	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(17,354	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,430	)
RSC Acquisition Inc	Delayed Draw Term Loan	11/1/2029		1,638,571		(16,386	)
Ryan LLC	Delayed Draw Term Loan	11/14/2030		190,476		417
Sales Performance International, LLC	Revolver	8/24/2028		1,696,970		(32,893	)
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		1,086,115		(46,160	)
The Action Environmental Group	Delayed Draw Term Loan	10/24/2030		130,435		326
Total Unfunded Balances			$	14,403,994	$	(272,831	)

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Net Assets (Tables)

3 Months Ended

Mar. 31, 2024

Net Assets [Abstract]

Summary of Total Common Shares Issued and Proceeds Received

The following tables summarizes the total Common Shares issued and proceeds received during the three months ended March 31, 2024 and March 31, 2023, respectively:

Date of Closing	Common Shares Issued		NAV per Common Share		Subscription Price Per Common Share		Proceeds Received
January 1, 2024		94,983	$	20.53	$	20.53	$	1,950,000
February 1, 2024		241,313	$	20.72	$	20.72	$	5,000,000
March 1, 2024		10,206	$	20.87	$	20.87	$	213,000
Totals		346,502					$	7,163,000

Date of Closing	Common Shares Issued		NAV per Common Share		Subscription Price Per Common Share		Proceeds Received
February 1, 2023		4,037,850	$	20.00	$	20.00	$	80,757,000
March 1, 2023		50,251	$	19.80	$	19.90	$	1,000,000
March 31, 2023		6,314,992	$	19.78	$	19.81	$	125,100,000
		10,403,093					$	206,857,000

Distribution Declarations and Common Shares Issued

The following table summarizes the distributions paid and Common Shares issued pursuant to the DRP for the three months ended March 31, 2024:

Date Declared	Record Date	Payment Date	Amount Per Share		Distribution Declared		DRP Shares Issued		Value of DRP Shares Issued
March 26, 2024	March 26, 2024	March 28, 2024	$	0.57	$	6,414,447		195,395	$	4,077,919
December 29, 2023	December 31, 2023	January 30, 2024	$	0.04	$	431,411		12,826	$	263,317
November 10, 2023	December 31, 2023	January 30, 2024	$	0.52	$	5,608,339		166,736	$	3,423,081
					$	12,454,197			$	7,764,317

Sources of Cash Distributions

The following table presents the sources of distributions on a GAAP basis that the Company declared on its Common Shares for the three months ended March 31, 2024:

	Per Share		Amount
Net investment income		0.47	$	5,359,196
Net realized gains		0.09		1,046,710
Distributions in excess of net investment income		0.00		8,541
Total		0.56	$	6,414,447

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Financial Highlights (Tables)

3 Months Ended

Mar. 31, 2024

Financial Highlights [Abstract]

Financial Highlights

The following are financial highlights for the three months ended March 31, 2024 and March 31, 2023, respectively:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Per Share Data:
Net asset value, beginning of period	$	20.55		$	20.00
Results of operations:
Net investment income (loss)(1)		0.47		(0.00)			(3)
Net unrealized and realized gain (loss)(2)		0.13			(0.20	)
Net increase (decrease) in net assets resulting from operations		0.60			(0.20	)
Distribution declared (4)		(0.57	)		—
Total increase (decrease) in net assets		0.03			(0.20	)
Net asset value, end of period	$	20.58		$	19.80
Total return based on NAV (5)		2.92	%		(1.00	)%
Shares outstanding, end of period		11,506,727			10,403,594
Ratios and supplemental data:
Net assets, end of period	$	236,772,553		$	205,997,606
Weighted-average net assets		233,893,490			54,675,485
Weighted-average shares outstanding		11,288,960			2,735,010
Ratio of net expenses to average net assets (6)		13.87	%		9.53	%
Ratio of net expenses before voluntary waivers to average net assets		13.87	%		9.76	%
Ratio of net investment income to average net assets (6)		8.68	%		0.35	%
Portfolio turnover		17.09	%		0.29	%
Asset Coverage Ratio (7)		192.85	%		—

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

(2)The amount shown for a Common Share outstanding does not correspond with the aggregate realized and unrealized gain (loss) on investments for the period due to the timing of capital share transactions of Common Shares in relation to fluctuating market values of investments of the Company.

(3)Rounds to less than (0.01)

(4)Distributions are based on the number of shares outstanding on the date the distribution was declared.

(5)Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period. Total return is not annualized.

(6)Annualized, with the exception of certain non-recurring expenses.

(7)Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period.

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Organization - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instruments [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Minimum [Member]
Debt Instruments [Abstract]
Enterprise value	$ 300
Maximum [Member]
Debt Instruments [Abstract]
Enterprise value	$ 3,000

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Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash - Additional Information (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Cash, Cash Equivalents and Restricted Cash [Abstract]
Restricted cash and cash equivalents	$ 56,233,451	$ 47,844,154

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Significant Accounting Policies - Non-Accrual Loans - Additional Information (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Non-Accrual Loans [Abstract]
Loans placed on non-accrual status	$ 0	$ 0

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Significant Accounting Policies - Organization and Offering Costs - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Organization and Offering Costs [Abstract]
Organizational and offering costs	$ 0	$ 328,240

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Significant Accounting Policies - Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
Significant Accounting Policies [Abstract]
Tax provision	$ 0
Percentage of minimum investment taxable income for each taxable year	90.00%
Percentage of nondeductible federal excise tax on undistributed income	4.00%
Percentage Of Ordinary Income	98.00%
Percentage of capital gain net income both long-term and short-term	98.20%

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Related Party Transactions, Base Management Fee - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) Qtr	Mar. 31, 2023 USD ($)
Base Management Fee [Abstract]
Base management fee	$ 716,752	$ 211,049
Management fee waived	$ 0	(128,140)
Advisor [Member]
Base Management Fee [Abstract]
Percentage of base management fee on net assets	1.25%
Number of recently completed quarters | Qtr	2
Percentage of base management fee on gross assets	1.25%
Base management fee	$ 716,752	211,049
Management fee waived	0	128,140
Net base management fee	$ 716,752	$ 82,909

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Related Party Transactions, Incentive Fee - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) Component	Mar. 31, 2023 USD ($)
Incentive Fee [Abstract]
Income based incentive fees	$ 692,650	$ 0
Incentive fees paid	$ 1,122,040	$ 0
Advisor [Member]
Incentive Fee [Abstract]
Number of incentive fee components | Component	2
Coupon securities	$ 0
Percent of quarterly hurdle rate	1.25%
Percent of annual hurdle rate	5.00%
Percentage of dollar amount of pre-incentive fee net investment income returns	100.00%
Percentage of pre incentive fee net investment income returns which exceeds the hurdle rate as catch-up	12.50%
Percentage of pre incentive fee net investment income returns which exceeds the hurdle rate as catch-up per calendar quarter	1.43%
Percentage of pre incentive fee net investment income returns which exceeds the hurdle rate as catch-up annualized	5.72%
Percentage of dollar amount of all pre-incentive fee net investment income returns	12.50%
Percentage of excess pre-incentive fee net investment income return	1.43%
Percentage of cumulative realized capital gains incentive fee payable at the end of each calendar year	12.50%
Increased percentage of cumulative realized capital gains incentive fee payable at the end of each calendar year	15.00%
Incentive fees paid	$ 0

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Related Party Transactions, Expense Support and Conditional Reimbursement Agreement - Additional Information (Details) - Advisor [Member] - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Expense Support and Conditional Reimbursement Agreement [Abstract]
Percentage of other operating expenses for applicable quarter-end net asset value	1.00%
Expense support	$ 651,775	$ 0
Reimbursement payment obligation	0	$ 0
Future potential reimbursement amount	$ 3,547,587
Maximum [Member]
Expense Support and Conditional Reimbursement Agreement [Abstract]
Reimbursement period of expense payments	3 years
Reimbursement payment period	45 days

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Investments and Fair Value Measurements - Investment Portfolio at Cost and Fair Value (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023
Investments [Abstract]
Amortized cost	$ 397,318,141	$ 345,223,315
Fair Value	$ 404,711,203	$ 352,378,520
Percentage of total investments at fair value	100.00%	100.00%
First Lien Debt [Member]
Investments [Abstract]
Amortized cost	$ 365,232,534	$ 313,932,958
Fair Value	$ 369,192,302	$ 317,768,488	$ 369,192,302
Percentage of total investments at fair value	91.23%	90.18%
Second Lien Debt [Member]
Investments [Abstract]
Amortized cost	$ 17,293,298	$ 16,498,048
Fair Value	$ 19,803,414	$ 19,050,076	$ 19,803,414
Percentage of total investments at fair value	4.89%	5.41%
Equity [Member]
Investments [Abstract]
Amortized cost	$ 14,792,309	$ 14,792,309
Fair Value	$ 15,715,487	$ 15,559,956
Percentage of total investments at fair value	3.88%	4.41%

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Investments and Fair Value Measurements - Investment Based on Fair Value by Industry (Details)	Mar. 31, 2024	Dec. 31, 2023
Investments [Abstract]
Percentage of total investments at fair value	100.00%	100.00%
Commercial Services & Supplies [Member]
Investments [Abstract]
Percentage of total investments at fair value	13.02%	15.33%
Trading Companies And distributors [Member]
Investments [Abstract]
Percentage of total investments at fair value	8.27%	9.52%
Electrical Equipment [Member]
Investments [Abstract]
Percentage of total investments at fair value	8.15%
Oil Gas And Consumable Fuels [Member]
Investments [Abstract]
Percentage of total investments at fair value	7.91%
Construction And Engineering [Member]
Investments [Abstract]
Percentage of total investments at fair value	7.57%	4.17%
Health Care Providers And Services [Member]
Investments [Abstract]
Percentage of total investments at fair value	7.36%	7.37%
Professional Services [Member]
Investments [Abstract]
Percentage of total investments at fair value	5.67%	6.33%
Hotels Restaurants And Leisure [Member]
Investments [Abstract]
Percentage of total investments at fair value	4.89%	5.69%
Aerospace and Defense [Member]
Investments [Abstract]
Percentage of total investments at fair value	4.84%
Machinery [Member]
Investments [Abstract]
Percentage of total investments at fair value	3.79%	3.69%
IT Services [Member]
Investments [Abstract]
Percentage of total investments at fair value	2.90%	3.63%
Textiles, Apparel And Luxury Goods [Member]
Investments [Abstract]
Percentage of total investments at fair value	2.79%	3.21%
Building Products [Member]
Investments [Abstract]
Percentage of total investments at fair value	2.52%	1.06%
Electric Utilities [Member]
Investments [Abstract]
Percentage of total investments at fair value	2.39%	7.20%
Energy Equipment and Services [Member]
Investments [Abstract]
Percentage of total investments at fair value		1.41%
Independent Power and Renewable Electricity Producers [Member]
Investments [Abstract]
Percentage of total investments at fair value		0.80%
Electronic Equipment, Instruments And Components [Member]
Investments [Abstract]
Percentage of total investments at fair value		0.32%
Insurance Sector [Member]
Investments [Abstract]
Percentage of total investments at fair value	2.39%	3.16%
Distributors [Member]
Investments [Abstract]
Percentage of total investments at fair value	2.10%	2.80%
Household Products [Member]
Investments [Abstract]
Percentage of total investments at fair value	1.96%	4.20%
Chemicals [Member]
Investments [Abstract]
Percentage of total investments at fair value	1.61%	2.55%
Automobile Components [Member]
Investments [Abstract]
Percentage of total investments at fair value	1.42%	1.62%
Containers And Packaging [Member]
Investments [Abstract]
Percentage of total investments at fair value	1.34%	1.98%
Diversified Consumer Services [Member]
Investments [Abstract]
Percentage of total investments at fair value	1.23%	1.87%
Automobile [Member]
Investments [Abstract]
Percentage of total investments at fair value		1.20%
Air Freight and Logistics [Member]
Investments [Abstract]
Percentage of total investments at fair value	1.20%	1.36%
Personal Care Products [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.99%	1.12%
Metals and Mining [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.74%	0.85%
Biotechnology [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.74%	1.40%
Software [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.58%	3.48%
Leisure Products [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.49%	0.56%
Health Care Equipment And Supplies [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.40%	0.88%
Ground Transportation [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.25%	0.69%
Health Care Technology [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.25%	0.28%
Gas Utilities [Member]
Investments [Abstract]
Percentage of total investments at fair value	0.24%	0.27%

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Investments and Fair Value Measurements - Investments at Cost and Fair Value by Geographic Region (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Investments [Abstract]
Amortized cost	$ 397,318,141	$ 345,223,315
Fair Value	$ 404,711,203	$ 352,378,520
Percentage of total investments at fair value	100.00%	100.00%
Percentage of net assets	170.93%	159.00%
United States [Member]
Investments [Abstract]
Amortized cost	$ 393,427,380	$ 340,353,603
Fair Value	$ 400,706,843	$ 347,440,385
Percentage of total investments at fair value	99.01%	98.60%
Percentage of net assets	169.24%	156.78%
Canada [Member]
Investments [Abstract]
Amortized cost	$ 3,890,761	$ 3,885,951
Fair Value	$ 4,004,360	$ 3,954,000
Percentage of total investments at fair value	0.99%	1.12%
Percentage of net assets	1.69%	1.78%
Luxembourg [Member]
Investments [Abstract]
Amortized cost	$ 0	$ 983,761
Fair Value	$ 0	$ 984,135
Percentage of total investments at fair value	0.00%	0.28%
Percentage of net assets	0.00%	0.44%

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Investments and Fair Value Measurements - Fair Value Hierarchy of Investments (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023
Investments [Abstract]
Fair Value	$ 404,711,203	$ 352,378,520
First Lien Debt [Member]
Investments [Abstract]
Fair Value	369,192,302	317,768,488	$ 369,192,302
Second Lien Debt [Member]
Investments [Abstract]
Fair Value	19,803,414	19,050,076	$ 19,803,414
Subtotal [Member]
Investments [Abstract]
Fair Value	388,995,716	336,818,564
Equity [Member]
Investments [Abstract]
Fair Value	15,715,487	15,559,956
Level 1 [Member] | First Lien Debt [Member]
Investments [Abstract]
Fair Value	0	0
Level 1 [Member] | Second Lien Debt [Member]
Investments [Abstract]
Fair Value	0	0
Level 1 [Member] | Subtotal [Member]
Investments [Abstract]
Fair Value	0	0
Level 2 [Member] | First Lien Debt [Member]
Investments [Abstract]
Fair Value	153,252,802	179,350,279
Level 2 [Member] | Second Lien Debt [Member]
Investments [Abstract]
Fair Value	0	0
Level 2 [Member] | Subtotal [Member]
Investments [Abstract]
Fair Value	153,252,802	179,350,279
Level 3 [Member]
Investments [Abstract]
Fair Value	235,742,914	157,468,285
Level 3 [Member] | First Lien Debt [Member]
Investments [Abstract]
Fair Value	215,939,500	138,418,209
Level 3 [Member] | Second Lien Debt [Member]
Investments [Abstract]
Fair Value	19,803,414	19,050,076
Level 3 [Member] | Subtotal [Member]
Investments [Abstract]
Fair Value	235,742,914	157,468,285
Investment Measured at Net Asset Value [Member]
Investments [Abstract]
Fair Value	$ 15,559,956	$ 15,715,487

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Investments and Fair Value Measurements - Fair Value of Investments (Details) - Level 3 [Member] - USD ($)	2 Months Ended	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 0	$ 157,468,285
Purchases of investments	0	92,224,386
Proceeds from principal pre-payments and sales of investments	0	(1,505,724)
Paid-in-kind	0	982,415
Net accretion of discount on investments	0	515,892
Net realized gain (loss)	$ 0	$ (33,566)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Realized Investment Gains (Losses)	Realized Investment Gains (Losses)
Net change in unrealized appreciation/depreciation	$ 0	$ 246,069
Transfers into Level 3	0	960,175
Transfers out of Level 3	0	(15,115,018)
Balance at end of period	0	235,742,914
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	$ 0	$ 246,069
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Unrealized Gain (Loss) on Investments	Unrealized Gain (Loss) on Investments
First Lien Debt [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 0	$ 138,418,209
Purchases of investments	0	92,224,386
Proceeds from principal pre-payments and sales of investments	0	(1,505,724)
Paid-in-kind	0	301,018
Net accretion of discount on investments	0	402,040
Net realized gain (loss)	0	(33,566)
Net change in unrealized appreciation/depreciation	0	287,980
Transfers into Level 3		960,175
Transfers out of Level 3	0	(15,115,018)
Balance at end of period	0	215,939,500
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	0	287,980
Second Lien Debt [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	0	19,050,076
Purchases of investments	0	0
Proceeds from principal pre-payments and sales of investments	0	0
Paid-in-kind	0	681,397
Net accretion of discount on investments	0	113,852
Net realized gain (loss)	0	0
Net change in unrealized appreciation/depreciation	0	(41,911)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at end of period	0	19,803,414
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	$ 0	$ (41,911)

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Investments and Fair Value Measurements - Additional Information (Details) - USD ($)	2 Months Ended	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2024
Investments and Fair Value Measurements [Abstract]
Fair value measurement transfer between levels	$ 0	$ (14,154,843)

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Investments and Fair Value Measurements - Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level 3 Investments (Details)	Mar. 31, 2024 USD ($)		Dec. 31, 2023 USD ($)		Sep. 30, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	$ 404,711,203		$ 352,378,520
First Lien Debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	369,192,302		317,768,488		$ 369,192,302
Second Lien Debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	19,803,414		19,050,076		$ 19,803,414
Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	235,742,914		157,468,285
Level 3 [Member] | Transactional Value [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	16,051,522	[1]	40,908,341	[2]
Level 3 [Member] | Market Quotations [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	8,576,621		18,288,599
Level 3 [Member] | First Lien Debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	215,939,500		138,418,209
Level 3 [Member] | First Lien Debt [Member] | Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	$ 191,311,357	[3]	$ 79,221,269
Level 3 [Member] | First Lien Debt [Member] | Discounted Cash Flow [Member] | Discount Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	0.1015	[3]	0.0986
Level 3 [Member] | First Lien Debt [Member] | Discounted Cash Flow [Member] | Discount Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	0.15	[3]	0.1344
Level 3 [Member] | First Lien Debt [Member] | Discounted Cash Flow [Member] | Discount Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	0.1181	[3]	0.1095	[4]
Level 3 [Member] | First Lien Debt [Member] | Market Quotations [Member] | Broker Quoted Price [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	0.86		0.9575
Level 3 [Member] | First Lien Debt [Member] | Market Quotations [Member] | Broker Quoted Price [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	1.005		1.005
Level 3 [Member] | First Lien Debt [Member] | Market Quotations [Member] | Broker Quoted Price [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	0.9835		0.9835	[4]
Level 3 [Member] | Second Lien Debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	$ 19,803,414		$ 19,050,076
Level 3 [Member] | Second Lien Debt [Member] | Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair Value	$ 19,803,414	[3]	$ 19,050,076
Level 3 [Member] | Second Lien Debt [Member] | Discounted Cash Flow [Member] | Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	0.155	[3]	0.155
Level 3 [Member] | Second Lien Debt [Member] | Discounted Cash Flow [Member] | Discount Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	0.155	[3]	0.155	[4]

[1] Unobservable inputs were weighted by the relative fair value of investments.

[2] Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

[3] Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date.

[4] Unobservable inputs were weighted by the relative fair value of investments.

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Borrowing - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Line of Credit Facility [Abstract]
Non-utilization fee percentage	1.00%
Principal value of credit facility	$ 255,000,000	$ 195,000,000
Secured Credit Facility [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity	$ 300,000,000
Variable interest rate if broadly syndicated loans higher of 60%	3.25%
Variable interest rate if broadly syndicated loans less than 60% and higher than 30%	3.35%
Variable interest rate if broadly syndicated loans less than 30%	3.50%
Period considered for determination of variable rate	18 months
Principal value of credit facility	$ 255,000,000
Secured Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Abstract]
Percentage of loans which are broadly syndicated loans 1	60.00%
Percentage of loans which are broadly syndicated loans 2	30.00%
Secured Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Abstract]
Percentage of loans which are broadly syndicated loans 2	60.00%
Percentage of loans which are broadly syndicated loans 3	30.00%

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Borrowing - Summary of Average Debt Outstanding and Interest Rates on Secured Credit Facility (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Average Debt Outstanding	$ 222,112,038
Weighted Average Interest Rate	8.80%	[1]
Secured Credit Facility [Member]
Debt Instrument [Line Items]
Effective Interest Rate	9.88%

[1] The calculation of weighted average interest rate does not include minimum utilization fees, non-utilization fees or the amortization of deferred financing costs.

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Borrowing - Interest Expense Related to Secured Credit Facility (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Line of Credit Facility [Line Items]
Amortization of deferred financing costs	$ 171,594	$ 0
Secured Credit Facility [Member]
Line of Credit Facility [Line Items]
Borrowing interest expense	4,872,781
Minimum utilization fee	261,056
Non-utlization fees	166,736
Amortization of deferred financing costs	171,595
Total interest and debt financing expense	$ 5,472,168

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Commitments and Contingencies - Outstanding Commitments to Fund Investments in Current Portfolio (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Unfunded delayed draw term loan commitments	$ 12,917,647	$ 8,336,031
Unfunded revolver obligations	8,557,078	6,067,963
Total Unfunded	$ 21,474,725	$ 14,403,994

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Commitments and Contingencies - Schedule of Investments Include Certain Delayed Draw and Revolving Loan Facilities with Unfunded Balances (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Unfunded Commitment	$ 21,474,725	$ 14,403,994
Fair Value	$ (430,633)	$ (272,831)
The Action Environmental Group, Inc [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Oct. 24, 2030
Unfunded Commitment	$ 130,435
Fair Value	$ 0
Aramsco, Inc [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Oct. 10, 2030	Oct. 10, 2030
Unfunded Commitment	$ 445,545	$ 445,545
Fair Value	$ 744	$ (927)
Imagefirst Holdings, LLC [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Apr. 27, 2028	Apr. 27, 2028
Unfunded Commitment	$ 666,667	$ 666,667
Fair Value	$ (1,667)	$ (3,333)
BP Loenbro Holdings Inc [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Feb. 01, 2029
Unfunded Commitment	$ 1,834,862
Fair Value	$ (13,310)
BP Loenbro Holdings Inc [Member] | Revolver Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Feb. 01, 2029
Unfunded Commitment	$ 1,834,862
Fair Value	$ (26,619)
MEI Buyer LLC [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Jun. 29, 2029	Jun. 29, 2029
Unfunded Commitment	$ 2,409,639	$ 2,409,639
Fair Value	$ (65,422)	$ (48,313)
MEI Buyer LLC [Member] | Revolver Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Jun. 29, 2029	Jun. 29, 2029
Unfunded Commitment	$ 2,650,602	$ 2,602,410
Fair Value	$ (71,964)	$ (73,778)
PetVet Care Centers LLC [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Nov. 15, 2029	Nov. 15, 2029
Unfunded Commitment	$ 1,768,583	$ 1,768,583
Fair Value	$ (34,487)	$ (17,354)
PetVet Care Centers, LLC [Member] | Revolver Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Nov. 15, 2030	Nov. 15, 2030
Unfunded Commitment	$ 1,768,583	$ 1,768,583
Fair Value	$ (34,222)	$ (34,430)
Sales Performance International, LLC [Member] | Revolver Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Aug. 24, 2028	Aug. 24, 2028
Unfunded Commitment	$ 2,303,030	$ 1,696,970
Fair Value	$ (43,067)	$ (32,893)
RSC Acquisition Inc [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Nov. 01, 2029	Nov. 01, 2029
Unfunded Commitment	$ 1,117,143	$ 1,638,571
Fair Value	$ 5,586	$ (16,386)
Ryan LLC [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Nov. 14, 2030	Nov. 14, 2030
Unfunded Commitment	$ 190,476	$ 190,476
Fair Value	$ 835	$ 417
Tank Holding Corp [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Mar. 31, 2028	Mar. 31, 2028
Unfunded Commitment	$ 900,548	$ 1,086,115
Fair Value	$ (14,589)	$ (46,160)
Voltagrid LLC [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date	Sep. 01, 2025
Unfunded Commitment	$ 3,453,750
Fair Value	$ (132,451)
The Action Environmental Group [Member] | Delayed Draw Term Loan
Schedule of Investments [Line Items]
Commitment Expiration Date		Oct. 24, 2030
Unfunded Commitment		$ 130,435
Fair Value		$ 326

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Net Assets - Additional Information (Details) - USD ($)								3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 01, 2024	Feb. 29, 2024	Feb. 01, 2024	Jan. 01, 2024	Mar. 31, 2023	Mar. 01, 2023	Feb. 01, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2023
Subscriptions [Abstract]
Minimum investment for subscription agreement								$ 10,000
Common share, shares issued (in shares)	10,206		241,313	94,983	6,314,992	50,251	4,037,850	346,502	10,403,093
Proceeds from issuance of common shares								$ 7,163,000	$ 81,857,000
Repurchases [Abstract]
Maximum percentage to repurchase common stock of net asset value								5.00%
Minimum percentage to repurchase common stock of net asset value								10.00%
Repurchase offer commencement period								90 days
Minimum amount to receive the repurchase proceeds in kind										$ 25,000,000
Common shares that are tendered by shareholders and not withdrawn (in shares)		539,263
Distributions [Abstract]
Number of business days for receiving dividend in cash or in combination								5 days
Distributions paid in cash								$ 4,689,880			$ 2,353,352
Maximum [Member]
Repurchases [Abstract]
Tender offer to purchase common shares outstanding, percentage		5.00%
Kennedy Lewis Management [Member]
Subscriptions [Abstract]
Common share, shares issued (in shares)								40,100	326,554
Proceeds from issuance of common shares								$ 802,000	$ 6,750,000

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Net Assets - Summary of Total Common Shares Issued and Proceeds Received (Details) - USD ($)							3 Months Ended
	Mar. 01, 2024	Feb. 01, 2024	Jan. 01, 2024	Mar. 31, 2023	Mar. 01, 2023	Feb. 01, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Net Assets [Abstract]
Common share, shares issued (in shares)	10,206	241,313	94,983	6,314,992	50,251	4,037,850	346,502	10,403,093
Common shares, shares issued since inception (in shares)				10,403,093			346,502	10,403,093
NAV per common share (in dollars per share)	$ 20.87	$ 20.72	$ 20.53	$ 19.8	$ 19.8	$ 20	$ 20.58	$ 19.8	$ 20.55	$ 20
Subscription price per common share (in dollars per share)	$ 20.87	$ 20.72	$ 20.53	$ 19.81	$ 19.9	$ 20		$ 19.81
Proceeds from shares sold	$ 213,000	$ 5,000,000	$ 1,950,000	$ 125,100,000	$ 1,000,000	$ 80,757,000	$ 7,163,000	$ 206,857,000

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Net Assets - Distribution Declarations and Common Shares Issued (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Net Assets [Line Items]
Distribution declared	$ 12,454,197
DRP shares issued (in shares)	374,957	0
Value of DRP shares issued	$ 7,764,317
Dividends Declared on March 26, 2024 [Member]
Schedule of Net Assets [Line Items]
Date declared	Mar. 26, 2024
Dividends record date	Mar. 26, 2024
Payment date	Mar. 28, 2024
Distribution per share	$ 0.57
Distribution declared	$ 6,414,447
DRP shares issued (in shares)	195,395
Value of DRP shares issued	$ 4,077,919
Dividends Declared on December 29, 2023 [Member]
Schedule of Net Assets [Line Items]
Date declared	Dec. 29, 2023
Dividends record date	Dec. 31, 2023
Payment date	Jan. 30, 2024
Distribution per share	$ 0.04
Distribution declared	$ 431,411
DRP shares issued (in shares)	12,826
Value of DRP shares issued	$ 263,317
Dividends Declared on November 10, 2023 [Member]
Schedule of Net Assets [Line Items]
Date declared	Nov. 10, 2023
Dividends record date	Dec. 31, 2023
Payment date	Jan. 30, 2024
Distribution per share	$ 0.52
Distribution declared	$ 5,608,339
DRP shares issued (in shares)	166,736
Value of DRP shares issued	$ 3,423,081

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Net Assets - Sources of Cash Distributions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Assets [Abstract]
Net investment income available for distribution per share (in dollars per share)	$ 0.47
Net realized gains available for distribution (in dollars per share)	0.09
Distributions in excess of net investment income (in dollars per share)	0
Cash distributions (per share)	$ 0.56
Net investment income available for distribution	$ 5,359,196
Net realized gains available for distribution	1,046,710
Distributions in excess of net investment income	8,541
Cash distributions	$ 6,414,447	$ 0

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Financial Highlights - Financial Highlights (Details) - USD ($)		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023		Dec. 31, 2023
Per Share Data: [Roll Forward]
Net asset value, beginning of period (in dollars per share)		$ 20.55	$ 20
Results of operations: [Abstract]
Net investment income (loss) (in dollars per share)	[1]	0.47	0	[2]
Net unrealized and realized gain (loss) (in dollars per share)	[3]	0.13	(0.2)
Net increase (decrease) in net assets resulting from operations (in dollars per share)		0.6	(0.2)
Shareholder Distributions [Abstract]
Distribution declared (in dollars per share)	[4]	(0.57)	0
Total increase (decrease) in net assets (in dollars per share)		0.03	(0.2)
Net asset value, end of period (in dollars per share)		$ 20.58	$ 19.8
Total return based on NAV	[5]	2.92%	(1.00%)
Shares outstanding, end of period (in shares)		11,506,727	10,403,594		10,785,268
Ratio and Supplemental Data [Abstract]
Net assets, end of period		$ 236,772,553	$ 205,997,606
Weighted-average net assets		$ 233,893,490	$ 54,675,485
Weighted-average shares outstanding, Basic (in shares)		11,288,960	2,735,010
Weighted-average shares outstanding, Diluted (in shares)		11,288,960	2,735,010
Ratio of net expenses to average net assets	[6]	13.87%	9.53%
Ratio of net expenses before voluntary waivers to average net assets		13.87%	9.76%
Ratio of net investment income to average net assets	[6]	8.68%	0.35%
Portfolio turnover		17.09%	0.29%
Asset coverage ratio	[7]	192.85%	0.00%

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

[2] Rounds to less than (0.01)

[3] The amount shown for a Common Share outstanding does not correspond with the aggregate realized and unrealized gain (loss) on investments for the period due to the timing of capital share transactions of Common Shares in relation to fluctuating market values of investments of the Company.

[4] Distributions are based on the number of shares outstanding on the date the distribution was declared.

[5] Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period. Total return is not annualized.

[6] Annualized, with the exception of certain non-recurring expenses.

[7] Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period.

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Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	May 13, 2024	Apr. 05, 2024
Dividends [Abstract]
Aggregate capital commitment		$ 200,000,000
Distribution per share	$ 0
Dividends payment date	Jun. 26, 2024
Dividends record date	May 13, 2024