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Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Investment income        
Interest income (excluding Payment-in-kind ("PIK") interest income) $ 29,411,000 $ 8,182,000 $ 70,770,000 $ 18,685,000
PIK interest income 1,233,000 668,000 3,595,000 967,000
Dividend income 84,000 26,000 159,000 75,000
Fee income 2,340,000 1,162,000 6,038,000 2,216,000
Total investment income 33,068,000 10,038,000 80,562,000 21,943,000
Expenses        
Interest and other financing expenses 12,231,000 3,797,000 28,213,000 8,522,000
Income based incentive fee 2,701,000 674,000 6,800,000 1,454,000
Management fee 2,529,000 675,000 5,060,000 1,489,000
Administrative expenses 533,000 299,000 1,378,000 862,000
Professional fees 313,000 200,000 931,000 617,000
Capital gains incentive fee (102,000) 0 218,000 0
Organizational and offering expenses 8,000 569,000 161,000 987,000
Other general and administrative expenses 62,000 116,000 173,000 270,000
Total expenses 18,275,000 6,330,000 42,934,000 14,201,000
Less: management fees waived (See Note 5) (617,000) (14,000) (695,000) (295,000)
Less: expenses waived (See Note 5) 0 (95,000) 0 (201,000)
Net expenses 17,658,000 6,221,000 42,239,000 13,705,000
Net investment income (loss) 15,410,000 3,817,000 38,323,000 8,238,000
Net realized gains (losses) on investments (195,000) 1,000 (215,000) 1,000
Net change in unrealized appreciation (depreciation) of investments (622,000) 4,469,000 1,520,000 7,912,000
(Provision) benefit for taxes (1,000) 0 (1,000) 0
Net realized and unrealized gains (losses) (818,000) 4,470,000 1,304,000 7,913,000
Net increase (decrease) in members' capital resulting from operations $ 14,592,000 $ 8,287,000 $ 39,627,000 $ 16,151,000
Earnings (loss) per unit - basic (in dollars per share) $ 0.30 $ 0.62 $ 1.04 $ 1.63
Earnings (loss) per unit - diluted (in dollars per share) $ 0.30 $ 0.62 $ 1.04 $ 1.63
Weighted average common units outstanding - basic (in shares) 49,342,936 13,436,959 37,946,534 9,928,134
Weighted average common units outstanding - diluted (in shares) 49,342,936 13,436,959 37,946,534 9,928,134