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Commitments and Contingencies
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

7. Commitments and Contingencies

Portfolio Company Commitments

From time to time, the Company may enter into commitments to fund investments in the form of revolver or delayed draw term loan commitments, which require the Company to provide funding during a specified commitment period when requested by portfolio companies in accordance with underlying loan agreements.

As of March 31, 2025 and December 31, 2024, the Company had the following unfunded commitments:

 

 

 

 

Unfunded Commitment Balance

 

Investment

Commitment Type

Commitment Expiration Date

March 31, 2025

 

December 31, 2024(1)

 

AAH Topco., LLC

First Lien Delayed Draw Term Loan

3/2027

$

17,500

 

$

—

 

Endor Purchaser, Inc.

First Lien Delayed Draw Term Loan

1/2028

 

5,833

 

 

—

 

Endor Purchaser, Inc.

First Lien Revolver

1/2032

 

2,917

 

 

—

 

Foundation Risk Partners, Corp.

First Lien Delayed Draw Term Loan

2/2027

 

25,000

 

 

—

 

Vamos Bidco, Inc.

First Lien Delayed Draw Term Loan

1/2027

 

10,811

 

 

—

 

Vamos Bidco, Inc.

First Lien Revolver

1/2032

 

3,243

 

 

—

 

World Insurance Associates, LLC

First Lien Delayed Draw Term Loan

8/2026

 

20,000

 

 

—

 

World Insurance Associates, LLC

First Lien Revolver

4/2030

 

1,000

 

 

—

 

Total Unfunded Commitments

 

 

$

86,304

 

$

—

 
(1)
As of December 31, 2024, the Company had not yet commenced investment operations and had no unfunded portfolio company commitments.

Commitments and Contingencies

In the normal course of business, the Company may enter 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. As of March 31, 2025 and December 31, 2024, no such claims exist, and accordingly, the Company has not accrued any liability in connection with such indemnifications.

The Advisor has agreed to advance payment of certain of the Company’s expenses incurred, a portion of which is subject to conditional reimbursement. As described in Note 3, the Company does not consider the unreimbursed expense payments subject to conditional reimbursement to be probable and estimable as described in ASC Topic 450 “Contingencies”. Refer to Note 3 for additional information.