Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2023

The following information sets forth the Company's financial highlights for the year ended December 31, 2023 and the period from May 9, 2022 (commencement of operations) to December 31, 2022.


	Year Ended
	December 31, 2023			December 31, 2022(1)
Per unit data(2):
Members' capital, December 31, 2022 and May 9, 2022 (commencement of operations), respectively	$	9.77		$	10.00
Net investment income	1.15			0.50
Net realized and unrealized gains (losses)(3)	0.63			(0.03)
Total net increase	1.78			0.47


Distributions declared to unitholders from net investment income	(1.28)			(0.70)


Members' capital, December 31, 2023 and December 31, 2022, respectively	$	10.27		$	9.77
Total return based on members' capital(4)	19.05		%	4.97		%
Units outstanding at end of period	26,941,956			7,525,831
Average weighted Units outstanding for the period	13,538,089			3,247,984
Average members' capital for the period	$	136,400		$	31,429
Ratio to average members' capital:
Net investment income(5)	11.37		%	9.88		%
Total expenses, before waivers(5)	17.54		%	21.41		%
Total expenses, net of waivers(5)	17.17		%	18.92		%


Average debt outstanding—BMO Subscription Line	$	53,870		$	32,929
Average debt outstanding—UBS Credit Facility	$	103,698		N/A
Asset coverage ratio	188.99		%	236.90		%
Portfolio turnover	3.85		%	0.24		%

Capital Commitments	$	768,475		$	249,350
Funded Capital Commitments	$	268,966		$	74,805
% of Capital Commitments funded	35.00		%	30.00		%

(1)For the year ended December 31, 2022, amounts represent the period from May 9, 2022 (commencement of operations) to December 31, 2022.

(2)Per unit data is based on weighted average units outstanding for the respective period (except for distributions declared to unitholders, which are based on actual rate per unit).

(3)The total amount shown may not correspond with the aggregate amount for the period as it includes the effect of the timing of capital transactions which for the year ended December 31, 2023 and for the period from May 9, 2022 (commencement of operations) to December 31, 2022 was $(0.22) and $0.04, respectively.

(4)Total return is calculated assuming a purchase price at members' capital per Unit on the first day of the year and a sale at members' capital per Unit on the last day of the period. Dividends and distributions, if any, are assumed for purposes of this calculation, to be reinvested at members' capital per Unit on the last day of the respective quarter. Total return calculation is not annualized.

(5)Annualized for the period from May 9, 2022 (commencement of operations) to December 31, 2022, except organizational and offering costs.

N/A Not applicable