Lends primarily to private middle-market U.S. companies through senior secured loans, and invests to a lesser extent in other credit and equity securities.
10-K for FY2025, filed Mar 26, 2026
The fund earns interest and fees from debt investments, as well as gains when it sells or liquidates investments and dividends from equity investments. Debt interest is generally payable quarterly or semiannually; some interest is added to loan principal until maturity, while portfolio companies pay fees for structuring, commitments, prepayments and loan changes.
10-K for FY2025, filed Mar 26, 2026We generate revenue in the form of interest and fee income on debt investments, capital gains, and dividend income from our equity…View ↗
Investment transactions are recorded on a trade-date basis. Realized gains (losses) on investments sold are recorded upon the sale or…View ↗
In the general course of its business, the Fund receives certain fees from portfolio companies, which are non-recurring in nature. Such…View ↗
Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK interest is added to the principal amount of the investment…View ↗
$41.9M
10-K for FY2025, filed Mar 26, 2026
$41.9M ↗
Investors buy common units directly from the fund on an ongoing basis; the fund also lends to private middle-market U.S. companies directly or indirectly and buys syndicated loans from third parties.
10-K for FY2025, filed Mar 26, 2026
Yes. It kept 41 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 26, 2026
$17.1MView ↗
Growing.
Revenue grew 60% in 1 year, from $26.2M in FY2024 to $41.9M in FY2025, about 60% a year.
10-K for FY2025, filed Mar 26, 2026
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