Notes Payable

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Notes Payable

5.NOTES PAYABLE

The Company's outstanding debt obligations as of December 31, 2024 were as follows:

	Aggregate Principal Committed						Outstanding Principal						Unused Portion						Carrying Value						Fair Value(1)
	Series I		Series II		Total		Series I		Series II		Total		Series I		Series II		Total		Series I		Series II		Total		Series I		Series II		Total
Promissory Notes	$	751	$	751	$	1,502	$	751	$	751	$	1,502	$	-	$	-	$	-	$	751	$	751	$	1,502	$	751	$	751	$	1,502

(1)The carrying amount outstanding under these debt obligations approximate their fair value as of December 31, 2024.

Promissory Notes

	Fair Value
Legal Maturity	Series I		Series II		Total
6/28/2054	$	536	$	536	$	1,072
11/1/2054	$	215	$	215	$	430
	$	751	$	751	$	1,502

The Promissory Notes are reported at amortized cost and are reflected within notes payable on the Company’s Consolidated Statements of Assets and Liabilities. The Promissory Notes pay interest on the principal balances at a rate of 12.4% per annum, payable semi-annually in arrears. However, the Operating Manager intends to repay the Promissory Notes prior to the legal maturity and is currently amortizing upfront costs associated with the Promissory Notes over a period of three years. Amortized amounts are included within general and administration expenses on the Company’s Consolidated Statements of Operations.