Commitments and Contingencies

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

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. Currently, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications.

The Company’s investment portfolio may contain debt investments which are in the form of lines of credit or delayed draw commitments, which require the Company to provide funding when requested by portfolio companies in accordance with underlying loan agreements. As of September 30, 2025 and December 31, 2024, the Company had the following unfunded delayed draw term loans and revolvers:


	Par Value as of
	September 30, 2025		December 31, 2024
Unfunded delayed draw commitments	$	33,011	$	35,950
Unfunded revolving commitments	28,024		28,764
Total unfunded commitments	$	61,035	$	64,714

As of September 30, 2025, the Company reasonably believes income generated primarily from the proceeds of capital drawdowns of our privately placed capital commitments, cash flows from interest, dividends and fees earned from our investments and principal repayments will provide adequate cover to satisfy all of the unfunded commitments noted above.

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of September 30, 2025, management is not aware of any pending or threatened material litigation.

Investor Commitments

As of September 30, 2025, the Company had $616.3 million in total capital commitments from investors, $156.1 million of which was undrawn. As of December 31, 2024, the Company had $543.8 million in total capital commitments from investors, $83.5 million of which was undrawn.