XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
11 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:        
Net increase (decrease) in net assets resulting from operations $ 0 [1] $ 32,885,958 [2],[3] $ 20,364,991 [2],[3] $ 0 [2],[3],[4]
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 0 [5] 1,180,107 (7,155,205)  
Net change unrealized (appreciation) depreciation on derivative instruments 0 [1] (319,195) 0  
Net change unrealized (appreciation) depreciation on foreign currency and other transactions 0 [5] 560,049 0  
Net realized (gain) loss on investments 0 [5] (2,153,636) (1,566,093)  
Net realized (gain) loss on derivative instruments 0 [1] (434,946) 0  
Net realized (gain) loss on foreign currency and other transactions 0 [5] 13,123 0  
Payment-in-kind interest capitalized 0 [5] (4,654,617) (2,786,541)  
Net accretion of discount and amortization of premium 0 [5] (6,032,353) 574,310  
Amortization of deferred financing costs 0 [1] 753,279 480,842  
Amortization of offering costs 0 [1] 1,419,903 851,065  
Purchases of investments 0 [5] (695,102,694) (490,600,898)  
Proceeds from sale of investments and principal repayments 0 [5] 302,480,157 149,155,907  
Changes in operating assets and liabilities:        
Interest receivable 0 [5] (2,114,611) (3,241,015)  
Deferred offering costs (401,174) [5] 0 (798,327)  
Receivable for investments sold 0 [5] (10,172,764) (4,150,568)  
Due from Advisor (596,562) [5] 735,901 (213,793)  
Other assets 0 [5] (11,093) (45,157)  
Payable for investments purchased 0 [5] (1,959,809) 7,489,135  
Due to Advisor and affiliates 997,736 [5] (39,614) (687,919)  
Management fee payable 0 [5] 627,390 690,008  
Income incentive fee payable 0 [5] 782,042 652,362  
Accrued capital gains incentive fee 0 [5] (40,953) 1,090,162  
Interest and credit facility fees payable 0 [5] 946,053 3,051,780  
Accrued expenses and other liabilities 0 [5] (242,346) 1,024,660  
Net cash provided by (used in) operating activities 0 [5] (380,894,669) (325,820,294)  
Cash flows from financing activities:        
Proceeds from Secured Credit Facility 0 [5] 180,045,826 220,000,000  
Repayment of Secured Credit Facility 0 [5] (32,360,081) (25,000,000)  
Deferred financing costs paid 0 [5] (580,585) (3,445,091)  
Distributions paid in cash 0 [5] (11,358,764) (1,643,122)  
Deferred offering costs paid   (1,484,883) 0 0 [5]
Proceeds from issuance of common shares 10,000 [5] 211,351,157 208,923,800  
Net cash provided by (used in) financing activities 10,000 [5] 345,612,670 398,835,587  
Net increase (decrease) in cash, cash equivalents and restricted cash 10,000 [5] (35,281,999) 73,015,293  
Cash, cash equivalents and restricted cash, beginning of year   73,025,293 10,000 [5]  
Cash, cash equivalents and restricted cash, end of year 10,000 [5] 37,743,294 73,025,293 10,000 [5]
Supplemental information and non-cash activities:        
Cash paid for interest 0 [5] 21,930,717 4,943,624  
Reinvestment of distributions 0 [5] 19,888,261 5,536,831  
Distribution Payable 0 [5] 13,468,268 6,039,749 $ 0 [5]
Accrued but unpaid deferred financing cost 0 [5] 1,500,000 0  
Accrued but unpaid deferred offering cost $ 0 [5] $ 7,440 $ 216,950  
[1] For the period from February 10, 2022 (date of inception) to December 31, 2022.
[2] Common Shares issued and outstanding as of June 23, 2024, December 31, 2023 and December 31, 2022, were issued pursuant to the Private Offering. As part of the Public Offering effective June 24, 2024, the Common Shares issued pursuant to the Private Offering became Class I shares. Common Shares issued pursuant to the Private Offering are reclassified as Class I shares to conform with current period presentation.
[3] There were no Class S or Class D shares outstanding for each of the periods presented.
[4] For the period from February 10, 2022 (date of inception) to December 31, 2022.
[5] For the period from February 10, 2022 (date of inception) to December 31, 2022.