SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

6. SUBSEQUENT EVENTS

There have been no subsequent events that require recognition or disclosure in the financial statements, except as noted

below.

Unregistered Sale of Equity Securities

On October 1, 2025, the Fund completed its Initial Closing and the Fund sold unregistered limited partnership units (the

“Units”) to certain investors for aggregate consideration of approximately $23.4 million. The following table provides details

on the Units sold to investors by the Fund:

Class	Number of Units Sold(1)	Aggregate Consideration(1)
Class A-I	868,860	$21,721,500
Class A-S	29,000	$725,000
Class C	40,000	$1,000,000

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(1)Unit and dollar amounts are rounded to the nearest whole number.

Investments

In October 2025, the Fund acquired Approved Warehoused Investments from the Warehouse Entity for a purchase price of

$21.2 million, in accordance with the terms of the Warehousing Agreement. The acquisitions included an investment purchased

through a wholly-owned subsidiary of the Fund, which was formed October 1, 2025.

Investment Advisory Agreement

On October 1, 2025, the Fund entered into the Advisory Agreement with the Investment Advisor.

Amended and Restated Limited Partnership Agreement

On October 1, 2025, the Fund entered into the Partnership Agreement with the General Partner, and each of the Fund’s

limited partners. The Partnership Agreement amended and restated the Fund’s initial Limited Partnership Agreement, dated as

of February 11, 2025.