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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Operating Activities      
Net increase (decrease) in net assets resulting from operations $ (93) $ 43,999  
Net realized (gains) losses 0 (1,467)  
Net change in unrealized (gains) losses 0 (1,513)  
PIK interest capitalized 0 (1,140)  
Purchase of investments 0 (683,298)  
Proceeds from sale of investments and principal repayments 0 47,340  
Changes in operating assets and liabilities:      
Decrease (increase) in due from counterparties 0 (198)  
Decrease (increase) in interest receivable 0 (3,993)  
Decrease (increase) in other assets 0 (11)  
Increase (decrease) in interest payable 0 0  
Increase (decrease) in payable for investments on participation 0 0  
Increase (decrease) in administration fees payable 8 401  
Increase (decrease) in professional fees payable 65 (65)  
Increase (decrease) in accrued organizational costs 20 (9)  
Increase (decrease) in management fees payable 0 1,147  
Increase (decrease) in other liabilities and accrued expenses 0 273  
Net Cash (Used in)/Provided by Operating Activities 0 (598,534)  
Financing Activities      
Proceeds from extinguishment of common shares 0 2  
Proceeds from issuance of common shares 2 670,755  
Distributions paid 0 (41,719)  
Net Cash (Used in)/Provided by Financing Activities 2 629,038  
Cash, Cash Equivalents      
Net increase (decrease) in cash, cash equivalents during the period 2 30,504  
Cash, cash equivalents at beginning of period 0 2  
Cash, Cash Equivalents at the End of Period 2 30,506 $ 2
Non-Cash Activity      
PIK interest income $ 0 $ 1,219 $ 0