Annual report pursuant to Section 13 and 15(d)

Net Assets (Tables)

v3.24.1
Net Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Investment Company [Abstract]  
Schedule of Investment Company, Changes in Net Assets
The following table summarizes transactions in common shares of beneficial interest during the year ended December 31, 2023:
Shares Amount
CLASS I
Subscriptions 15,800,152  $ 393,222 
Share transfers between classes 1,288,666  31,876 
Distributions reinvested 1,516,435  37,411 
Share repurchases (1,249,621) (31,023)
Early repurchase deduction —  38 
Net increase (decrease) 17,355,632  $ 431,524 
CLASS D
Subscriptions 11,538,818  $ 285,908 
Share transfers between classes (182,120) (4,757)
Distributions reinvested 1,004,668  24,835 
Share repurchases (1,706,906) (42,429)
Early repurchase deduction —  20 
Net increase (decrease) 10,654,460  $ 263,577 
CLASS F
Subscriptions 35,926,975  $ 891,120 
Share transfers between classes (1,161,369) (28,496)
Distributions reinvested 4,571,037  112,818 
Share repurchases (6,014,694) (149,380)
Early repurchase deduction —  101 
Net increase (decrease) 33,321,949  $ 826,163 
CLASS S
Subscriptions 802,164  $ 20,150 
Share transfers between classes 54,823  1,377 
Distributions reinvested 892  22 
Share repurchases —  — 
Early repurchase deduction —  — 
Net increase (decrease) 857,879  $ 21,549 
Total net increase (decrease) 62,189,920  $ 1,542,813 
The following table summarizes transactions in common shares of beneficial interest during the year ended December 31, 2022:
Shares Amount
CLASS I
Subscriptions 34,268,897  $ 849,178 
Share transfers between classes 206,333  4,956 
Distributions reinvested 626,549  15,279 
Share repurchases —  — 
Early repurchase deduction —  57 
Net increase (decrease) 35,101,779  $ 869,470 
CLASS D
Subscriptions 17,287,026  $ 427,775 
Share transfers between classes —  — 
Distributions reinvested 251,233  6,105 
Share repurchases —  — 
Early repurchase deduction —  28 
Net increase (decrease) 17,538,259  $ 433,908 
CLASS F
Subscriptions 91,204,624  $ 2,254,046 
Share transfers between classes (206,333) (4,956)
Distributions reinvested 1,560,238  37,939 
Share repurchases (499,017) (11,948)
Early repurchase deduction —  149 
Net increase (decrease) 92,059,512  $ 2,275,230 
Total net increase (decrease) 144,699,550  $ 3,578,608 
The following table summarizes transactions in common shares of beneficial interest during the year ended December 31, 2021:

Shares Amount
CLASS I
Subscriptions 100  $ 3 
Share transfers between classes —  — 
Distributions reinvested —  — 
Share repurchases —  — 
Early repurchase deduction —  — 
Net increase (decrease) 100  $ 3 
CLASS D
Subscriptions —  $ — 
Share transfers between classes —  — 
Distributions reinvested —  — 
Share repurchases —  — 
Early repurchase deduction —  — 
Net increase (decrease) —  $ — 
CLASS F
Subscriptions —  $ — 
Share transfers between classes —  — 
Distributions reinvested —  — 
Share repurchases —  — 
Early repurchase deduction —  — 
Net increase (decrease) —  $ — 
Total net increase (decrease) 100  $ 3 
For the years ended December 31, 2023 and 2022, permanent differences were as follows:
Year Ended December 31,
2023 2022
Undistributed net investment income (loss) $ (11,599) $ 9,805 
Accumulated net realized gain (loss) 14,866  (6,922)
Paid In Capital $ 3,267  $ 2,883 
Schedule of Net Asset Value Per Share The following table summarizes each month-end NAV per share for Class I, Class D, Class F, and Class S common shares of beneficial interest during the years ended December 31, 2023 and 2022:
NAV Per Share
For the Months Ended
Class I
Class D
Class F
Class S(1)
January 31, 2023 $ 24.36  $ 24.36  $ 24.36  $ — 
February 28, 2023 $ 24.56  $ 24.56  $ 24.56  $ — 
March 31, 2023 $ 24.40  $ 24.40  $ 24.40  $ — 
April 30, 2023 $ 24.42  $ 24.42  $ 24.42  $ — 
May 31, 2023 $ 24.45  $ 24.45  $ 24.45  $ — 
June 30, 2023 $ 24.72  $ 24.72  $ 24.72  $ — 
July 31, 2023 $ 24.87  $ 24.87  $ 24.87  $ — 
August 31, 2023 $ 24.88  $ 24.88  $ 24.88  $ — 
September 30, 2023 $ 25.11  $ 25.11  $ 25.11  $ — 
October 31, 2023 $ 25.05  $ 25.05  $ 25.05  $ 25.05 
November 30, 2023 $ 25.15  $ 25.15  $ 25.15  $ 25.15 
December 31, 2023 $ 25.06  $ 25.06  $ 25.06  $ 25.06 
NAV Per Share
For the Months Ended Class I Class D
Class F
Class S(1)
February 28, 2022 $ 25.10  $ 25.10  $ 25.10  $ — 
March 31, 2022 $ 25.09  $ 25.09  $ 25.09  $ — 
April 30, 2022 $ 24.94  $ 24.94  $ 24.94  $ — 
May 31, 2022 $ 24.61  $ 24.61  $ 24.61  $ — 
June 30, 2022 $ 24.32  $ 24.32  $ 24.32  $ — 
July 31, 2022 $ 24.48  $ 24.48  $ 24.48  $ — 
August 31, 2022 $ 24.51  $ 24.51  $ 24.51  $ — 
September 30, 2022 $ 24.21  $ 24.21  $ 24.21  $ — 
October 31, 2022 $ 24.02  $ 24.02  $ 24.02  $ — 
November 30, 2022 $ 24.00  $ 24.00  $ 24.00  $ — 
December 31, 2022 $ 23.88  $ 23.88  $ 23.88  $ — 
(1) Class S commenced operations on October 1, 2023.
Schedule of Dividends Declared The following table presents distributions that were declared during the year ended December 31, 2023:
Class I
Declaration Date
Payment Date
 Base Distribution Per Share Variable Supplemental Distribution Per Share Special Distribution Per Share Total Distribution Per Share Distribution Amount
January 19, 2023 February 28, 2023 $ 0.1600  $ 0.0210  $ —  $ 0.1810  $ 6,441 
February 28, 2023 March 31, 2023 0.1600 0.0300 — 0.1900  6,980 
March 28, 2023 April 28, 2023 0.1600 0.0430 — 0.2030  7,518 
April 28, 2023 May 31, 2023 0.1600 0.0440 — 0.2040  7,561 
May 26, 2023 June 30, 2023 0.1600 0.0450 — 0.2050  7,668 
June 28, 2023 July 31, 2023 0.1600 0.0450 — 0.2050  7,907 
July 31, 2023 August 31, 2023 0.1600 0.0450 — 0.2050  8,119 
August 31, 2023 September 29, 2023 0.1600 0.0550 0.1500 0.3650  16,009 
September 27, 2023 October 31, 2023 0.1600 0.0550 — 0.2150  9,577 
October 27, 2023 November 30, 2023 0.1600 0.0550 — 0.2150  10,450 
November 27, 2023 December 29, 2023 0.1600 0.0550 — 0.2150  11,042 
December 29, 2023 January 31, 2024 0.1600 0.0550 0.1500 0.3650 19,305 
Total
 $ 1.9200  $ 0.5480  $ 0.3000  $ 2.7680  $ 118,577 
Class D
Declaration Date
Payment Date
Base Distribution Per Share(1)
Variable Supplemental Distribution Per Share
Special Distribution Per Share
 Total Distribution Per Share
Distribution Amount
January 19, 2023 February 28, 2023 $ 0.1549  $ 0.0210  $ —  $ 0.1759  $ 3,173 
February 28, 2023 March 31, 2023 0.1553 0.0300 — 0.1853 3,351 
March 28, 2023 April 28, 2023 0.1548 0.0430 — 0.1978 3,752 
April 28, 2023 May 31, 2023 0.1550 0.0440 — 0.1990 3,951 
May 26, 2023 June 30, 2023 0.1548 0.0450 — 0.1998 4,081 
June 28, 2023 July 31, 2023 0.1550 0.0450 — 0.2000 4,285 
July 31, 2023 August 31, 2023 0.1548 0.0450 — 0.1998 4,426 
August 31, 2023 September 29, 2023 0.1547 0.0550 0.1500 0.3597 8,319 
September 27, 2023 October 31, 2023 0.1549 0.0550 — 0.2099 5,441 
October 27, 2023 November 30, 2023 0.1547 0.0550 — 0.2097 5,701 
November 27, 2023 December 29, 2023 0.1549 0.0550 — 0.2099 5,923 
December 29, 2023 January 31, 2024 0.1547 0.0550 0.1500 0.3597 10,390 
Total
 $ 1.8585  $ 0.5480  $ 0.3000  $ 2.7065  $ 62,793 

Class F
Declaration Date
Payment Date
Base Distribution Per Share(1)
Variable Supplemental Distribution Per Share
Special Distribution Per Share
 Total Distribution Per Share
Distribution Amount
January 19, 2023 February 28, 2023 $ 0.1499  $ 0.0210  $ —  $ 0.1709  $ 16,003 
February 28, 2023 March 31, 2023 0.1507 0.0300 — 0.1807 16,992 
March 28, 2023 April 28, 2023 0.1496 0.0430 — 0.1926 18,590 
April 28, 2023 May 31, 2023 0.1500 0.0440 — 0.1940 18,948 
May 26, 2023 June 30, 2023 0.1496 0.0450 — 0.1946 19,516 
June 28, 2023 July 31, 2023 0.1500 0.0450 — 0.1950 20,103 
July 31, 2023 August 31, 2023 0.1495 0.0450 — 0.1945 20,194 
August 31, 2023 September 29, 2023 0.1494 0.0550 0.1500 0.3544 38,128 
September 27, 2023 October 31, 2023 0.1498 0.0550 — 0.2048 23,210 
October 27, 2023 November 30, 2023 0.1493 0.0550 — 0.2043 23,928 
November 27, 2023 December 29, 2023 0.1497 0.0550 — 0.2047 25,038 
December 29, 2023 January 31, 2024 0.1493 0.0550 0.1500 0.3543 44,922 
Total
 $ 1.7968  $ 0.5480  $ 0.3000  $ 2.6448  $ 285,572 

Class S(2)
Declaration Date
Payment Date
Base Distribution Per Share(1)
Variable Supplemental Distribution Per Share
Special Distribution Per Share
 Total Distribution Per Share
Distribution Amount
October 27, 2023 November 30, 2023 $ 0.1419  $ 0.0550  $ —  $ 0.1969  $ 20 
November 27, 2023 December 29, 2023 0.1425  0.0550  — 0.1975 62
December 29, 2023 January 31, 2024 0.1418 0.0550 0.1500 0.3468 298 
Total
 $ 0.4262  $ 0.1650  $ 0.1500  $ 0.7412  $ 380 
(1) Distributions per share are net of shareholder servicing and/or distribution fees.
(2) Class S Shares commenced operations on October 1, 2023.

The following table presents distributions that were declared during the year ended December 31, 2022:
Class I
Declaration Date Payment Date
Base Distribution Per Share
Variable Supplemental Distribution Per Share
Special Distribution Per Share
 Total Distribution Per Share
Distribution Amount
February 27, 2022 March 31, 2022 $ 0.13542  $ —  $ —  $ 0.13542  $ 958 
March 30, 2022 April 29, 2022 0.14640 —  —  0.14640  1,572 
April 29, 2022 May 31, 2022 0.14640 —  —  0.14640  2,524 
May 31, 2022 June 30, 2022 0.14640 —  —  0.14640  2,942 
June 29, 2022 July 29, 2022 0.14640 —  —  0.14640  3,291 
July 29, 2022 August 31, 2022 0.14640 —  —  0.14640  3,467 
August 26, 2022 September 30, 2022 0.14640 —  —  0.14640  4,265 
September 30, 2022 October 31, 2022 0.14640 —  —  0.14640  4,683 
October 26, 2022 November 30, 2022 0.14640  —  —  0.14640  4,803 
October 31, 2022 November 29, 2022 —  —  0.10000  0.10000  3,281 
November 30, 2022 December 30, 2022 0.14640  —  —  0.14640  4,880 
December 29, 2022 January 31, 2023 0.14640  —  —  0.14640  5,139 
December 29, 2022 January 30, 2023 —  —  0.13000  0.13000  4,563 
Total $ 1.59942  $ —  $ 0.23000  $ 1.82942  $ 46,368 
Class D
Declaration Date Payment Date
Base Distribution Per Share(1)
Variable Supplemental Distribution Per Share
Special Distribution Per Share
 Total Distribution Per Share
Distribution Amount
February 27, 2022 March 31, 2022 $ 0.13542  $ —  $ —  $ 0.13542  $ 172 
March 30, 2022 April 29, 2022 0.14640  —  —  0.14640  688 
April 29, 2022 May 31, 2022 0.14640  —  —  0.14640  1,107 
May 31, 2022 June 30, 2022 0.14640  —  —  0.14640  1,282 
June 29, 2022 July 29, 2022 0.14640  —  —  0.14640  1,493 
July 29, 2022 August 31, 2022 0.14640  —  —  0.14640  1,608 
August 26, 2022 September 30, 2022 0.14640  —  —  0.14640  1,957 
September 30, 2022 October 31, 2022 0.14640  —  —  0.14640  2,346 
October 26, 2022 November 30, 2022 0.14640  —  —  0.14640  2,364 
October 31, 2022 November 29, 2022 —  —  0.10000  0.10000  1,615 
November 30, 2022 December 30, 2022 0.14180  —  —  0.14180  2,422 
December 29, 2022 January 31, 2023 0.14130  —  —  0.14130  2,478 
December 29, 2022 January 30, 2023 —  —  0.13000  0.13000  2,280 
Total $ 1.58972  $ —  $ 0.23000  $ 1.81972  $ 21,812 

Class F
Declaration Date Payment Date
Base Distribution Per Share(1)
Variable Supplemental Distribution Per Share
Special Distribution Per Share
 Total Distribution Per Share
Distribution Amount
February 27, 2022 March 31, 2022 $ 0.13542  $ —  $ —  $ 0.13542  $ 1,638 
March 30, 2022 April 29, 2022 0.14640  —  —  0.14640  3,072 
April 29, 2022 May 31, 2022 0.14640  —  —  0.14640  4,768 
May 31, 2022 June 30, 2022 0.14640  —  —  0.14640  6,535 
June 29, 2022 July 29, 2022 0.14640  —  —  0.14640  8,147 
July 29, 2022 August 31, 2022 0.14640  —  —  0.14640  9,135 
August 26, 2022 September 30, 2022 0.14640  —  —  0.14640  10,403 
September 30, 2022 October 31, 2022 0.14640  —  —  0.14640  12,097 
October 26, 2022 November 30, 2022 0.14640  —  —  0.14640  12,616 
October 31, 2022 November 29, 2022 —  —  0.10000  0.10000  8,628 
November 30, 2022 December 30, 2022 0.13720  —  —  0.13720  12,449 
December 29, 2022 January 31, 2023 0.13620  —  —  0.13620  12,596 
December 29, 2022 January 30, 2023 —  —  0.13000  0.13000  12,022 
Total $ 1.58002  $ —  $ 0.23000  $ 1.81002  $ 114,106 
(1)Distributions per share are net of shareholder servicing and/or distribution fees.
Summary of Cash Distribution For Declaration of Common Shares The following table reflects the sources of cash distributions on a U.S. GAAP basis that the Company has declared on its Common Shares during the year ended December 31, 2023:
Class I Class D Class F Class S
Source of Distribution
Per Share
Amount Per Share Amount
Per Share
Amount
Per Share
Amount
Net investment income $ 2.7680  $ 118,577  $ 2.7065  $ 62,793  $ 2.6448  $ 285,572  $ 0.7412  $ 380 
Net realized gains —  —  —  —  —  —  —  — 
Total $ 2.7680  $ 118,577  $ 2.7065  $ 62,793  $ 2.6448  $ 285,572  $ 0.7412  $ 380 

The following table reflects the sources of cash distributions on a U.S. GAAP basis that the Company has declared on its Common Shares during the year ended December 31, 2022:
Class I Class D Class F
Source of Distribution
Per Share
Amount Per Share Amount
Per Share
Amount
Net investment income $ 1.8294  $ 46,368  $ 1.8197  $ 21,812  $ 1.8100  $ 114,106 
Net realized gains —  —  —  —  —  — 
Total $ 1.8294  $ 46,368  $ 1.8197  $ 21,812  $ 1.8100  $ 114,106 
Schedule of Class of Treasury Stock
The following table summarizes the share repurchases completed during the year ended December 31, 2023:
Repurchase Deadline Request
Percentage of Outstanding Shares the Company Offered to Repurchase(1)
Repurchase Pricing Date
Amount Repurchased (all classes)(2)
Number of Shares Repurchased (all classes)
Percentage of Outstanding Shares Purchased(1)
March 2, 2023 5.00  % March 31, 2023 $ 25,836  1,058,869  0.73  %
May 30, 2023 5.00  % June 30, 2023 $ 98,692  3,992,380  2.64  %
August 31, 2023 5.00  % September 30, 2023 $ 34,830  1,387,108  0.87  %
December 1, 2023 5.00  % December 31, 2023 $ 63,474  2,532,864  1.39  %

The following table summarizes the share repurchases completed during the year ended December 31, 2022:
Repurchase Deadline Request
Percentage of Outstanding Shares the Company Offered to Repurchase(1)
Repurchase Pricing Date
Amount Repurchased (all classes)(2)
Number of Shares Repurchased (all classes)
Percentage of Outstanding Shares Purchased(1)
May 31, 2022 5.00  % June 30, 2022 $ 1,000  41,118  0.11  %
August 30, 2022 5.00  % September 30, 2022 $ 938  38,736  0.04  %
November 30, 2022 5.00  % December 31, 2022 $ 10,010  419,163  0.32  %
(1)Percentage is based on total shares as of the close of the previous calendar quarter. All repurchase requests were satisfied in full.
(2)Amounts not inclusive of Early Repurchase Deduction.