Net Assets

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Net Assets

Net Assets

The Company has the authority to issue an unlimited number of Shares. Prior to the BDC Election Date, the Company exchanged 17,146,374 Shares to the shareholders of the Ramp Vehicle with a value of $342.9 million and received $354.7 million in Capital Commitments. Of the $354.7 million in total Capital Commitments, the Company called $327.1 million prior to the BDC Election Date in order to make investments and support the operations of the Ramp Vehicle and adjusted $9.5 million in capital commitments of shareholders in the Ramp Vehicle.

The Company has entered into subscription agreements (the “Subscription Agreements”) with investors. Investors are required to enter into capital commitment arrangements (each, a “Capital Commitment”) with the Company to purchase Shares, pursuant to which the investors are required to fund drawdowns to purchase Shares up to the amount of their respective Capital Commitments each time the Company delivers a drawdown notice, which will be delivered at least 10 days prior to any subsequent funding date. All Capital Commitments from the earliest investor(s) must be called in totality before Capital Commitments from later subscribing investors is called. The purchase price of the Shares for each capital call will be set at a per-Share price that is at least equal to the NAV per Share for the quarter in which capital is called, subject to the limitations under Section 23 of the 1940 Act. The Board may set the per-Share price above NAV per Share based on a variety of factors.

As of March 31, 2026, we had received Capital Commitments totaling $386.3 million ($49.8 million remaining undrawn).

Pursuant to the Company’s dividend reinvestment plan, the following table summarizes the Shares issued to shareholders who have not opted out of the Company’s dividend reinvestment plan for the three months ended March 31, 2026. All Shares issued to shareholders in the tables below are newly issued Shares.

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	For the Three Months Ended March 31, 2026
Date Declared	Record Date	Date Shares Issued	Shares Issued
December 31, 2025	December 31, 2025	January 30, 2026	318,515
Total Shares Issued			318,515

The Company has commenced a Share repurchase program pursuant to which it intends to repurchase in each quarter up to 5% of its outstanding Shares (either by number of Shares or aggregate NAV) as of the prior quarter.

The following table presents the Share repurchase offers completed for the fiscal quarter ended March 31, 2026:

Offer Date	Tender Offer Expiration	Repurchase Price per Share(1)		Repurchased Amount		Shares Repurchased
March 20, 2026	April 20, 2026	$	19.52	$	—	$	—

(1)The purchase price for Shares tendered pursuant to the tender offer ended April 20, 2026 was the Company’s net asset value as of March 31, 2026. Although no Shares were repurchased pursuant to such tender offer, the purchase price is included in the table above to show the terms of the repurchase offer for the applicable period.