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Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2024

Investment Company, Financial Highlights [Abstract]

The following are financial highlights for the years ended December 31, 2024, December 31, 2023 and for the period from February 10, 2022 (date of inception) to December 31, 2022:


	Class I(7)
	For the year ended December 31,
	2024			2023			2022(8)
Per Share Data:
Net asset value, beginning of period	$	20.55		$	20.00		$	—
Results of operations:
Net investment income (loss)(1)		1.98			1.34			—
Net unrealized and realized gain (loss)(2)		0.09			0.45			—
Net increase (decrease) in net assets resulting from operations		2.07			1.79			—
Distribution declared (3)		(2.40	)		(1.24	)		—
Total increase (decrease) in net assets		(0.33	)		0.55			20.00
Net asset value, end of period	$	20.22		$	20.55		$	20.00
Total return based on net asset value (4)		10.07	%		8.95	%		—
Shares outstanding, end of period		22,106,186			10,785,268			500

Ratios and supplemental data:
Net assets, end of period	$	447,065,753		$	221,615,920		$	—
Weighted-average net assets		327,144,295			176,046,740			—
Weighted-average shares outstanding		16,013,406			8,711,195			—
Ratio of net expenses to weighted average net assets		11.37	%		8.41	%		—
Ratio of net expenses before voluntary waivers to weighted average net assets		11.37	%		8.74	%		—
Ratio of net investment income to weighted average net assets		9.70	%		6.61	%		—
Portfolio turnover		56.80	%	59.71%(6)			N/A
Asset Coverage Ratio (5)		230.46	%		213.65	%	N/A

(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)

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

(4)

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.

(5)

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.

(6)

Calculated for the period February 1, 2023 (commencement of operations) to December 31, 2023.

(7)

Common Shares issued for the period from January 1, 2024 through June 23, 2024 and for the years ended December 31, 2023 and December 31, 2022 relate to the Private Offering and became Class I shares as part of Public Offering effective June 24, 2024. Common Shares issued pursuant to the Private Offering are reclassified as Class I shares to conform with current period presentation.

(8)

All expenses were waived for the period. There was no activity other than organization and offering costs incurred and the issuance of 500 shares of our common stock at $20.00 per share for the period from February 10, 2022 (date of inception) to December 31, 2022.

There were no Class S or Class D shares outstanding for the year ended December 31, 2024.

Summary of Senior Securities

Information about our senior securities as of December 31, 2024 and December 31, 2023, are shown in the following table:


Class and year	Total Amount Outstanding		Asset Coverage Per Unit(1)		Involuntary Liquidating Preference Per Unit(2)	Market Value Per Unit(3)
December 31, 2024
Secured Credit Facility	$	342,685,745		2,304.60	—	N/A
December 31, 2023
Secured Credit Facility	$	195,000,000		2,136.50	—	N/A