Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Summary of Investments and Cash Equivalents Within the Fair Value Hierarchy

The following is a summary of the Company’s investments and cash equivalents categorized within the fair value hierarchy:

	June 30, 2025
	Level 1		Level 2		Level 3		Total
First Lien debt investments	$	—	$	—	$	94,085	$	94,085
Second Lien debt investments		—		—		39,520		39,520
Total Investments at fair value before Cash Equivalents		—		—		133,605		133,605
Money Market Fund		142,527		—		—		142,527
Total Cash Equivalents		142,527		—		—		142,527
Total Investments at fair value after Cash Equivalents	$	142,527	$	—	$	133,605	$	276,132

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Total Investments at fair value before Cash Equivalents	$	—	$	—	$	—	$	—
Money Market Fund		9,242		—		—		9,242
Total Cash Equivalents		9,242		—		—		9,242
Total Investments at fair value after Cash Equivalents	$	9,242	$	—	$	—	$	9,242

Schedule of Changes in Fair Value Investments

The following tables present the changes in the fair value of investments for which Level 3 inputs were used to determine the fair value:

	Three Months Ended
	June 30, 2025
	First Lien Debt Investments			Second Lien Debt Investments		Total Investments
Fair value, beginning of the period	$	51,324		$	—	$	51,324
Purchases and originations of investments		42,965			39,400		82,365
Payment in kind		—			—		—
Proceeds from investments		—			—		—
Net change in unrealized gains (losses) on investments		(243	)		103		(140	)
Net realized gains (losses) on investments		—			—		—
Net amortization of discount on investments		39			17		56
Transfers into (out of) Level 3		—			—		—
Fair value, end of period	$	94,085		$	39,520	$	133,605
Net change in unrealized gains (losses) on non-controlled, non-affiliated investments still held at June 30, 2025	$	(243	)	$	103	$	(140	)

	Six Months Ended
	June 30, 2025
	First Lien Debt Investments			Second Lien Debt Investments		Total Investments
Fair value, beginning of the period	$	—		$	—	$	—
Purchases and originations of investments		94,289			39,400		133,689
Payment in kind		—			—		—
Proceeds from investments		—			—		—
Net change in unrealized gains (losses) on investments		(271	)		103		(168	)
Net realized gains (losses) on investments		—			—		—
Net amortization of discount on investments		67			17		84
Transfers into (out of) Level 3		—			—		—
Fair value, end of period	$	94,085		$	39,520	$	133,605
Net change in unrealized gains (losses) on non-controlled, non-affiliated investments still held at June 30, 2025	$	(271	)	$	103	$	(168	)

	Three Months Ended		Six Months Ended
	June 30, 2024(1)		June 30, 2024(1)
	Total Investments		Total Investments
Fair value, beginning of the period	$	—	$	—
Purchases and originations of investments		—		—
Payment in kind		—		—
Proceeds from investments		—		—
Net change in unrealized gains (losses) on investments		—		—
Net realized gains (losses) on investments		—		—
Net amortization of discount on investments		—		—
Transfers into (out of) Level 3		—		—
Fair value, end of period	$	—	$	—
Net change in unrealized gains (losses) on non-controlled, non-affiliated investments still held at June 30, 2024	$	—	$	—

(1)As of June 30, 2024, the Company had not yet commenced investment operations.

Schedule of Significant Unobservable Inputs of Level 3 Investments

The following tables present the significant unobservable inputs of the Company's Level 3 investments as of June 30, 2025 and December 31, 2024. The tables are not intended to be all-inclusive but instead capture the significant unobservable inputs relevant to the Company’s determination of fair value for the Level 3 investments.

	June 30, 2025
	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)(1)	Impact to Valuation from an Increase to Input
First Lien debt investments	$	94,085	Income approach	Discount rate	9.0% - 9.7% (9.4%)	Decrease
Second Lien debt investments		39,520	Income approach	Discount rate	9.8% - 9.8% (9.8%)	Decrease
Total	$	133,605

(1)The weighted average is calculated by weighing the significant unobservable input by the relative fair value of each investment in the category.

	December 31, 2024(1)
	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)	Impact to Valuation from an Increase to Input
Debt investments	$	—	N/A	N/A	N/A	N/A
Total	$	—

(1)As of December 31, 2024, the Company had not yet commenced investment operations.