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Financial report summary
?Management Discussion
- We received our initial seed capital on June 28, 2024 and commenced investment operations on July 19, 2024, the date we purchased the Initial Portfolio, and therefore do not have prior periods with which to compare our investment operating results for the period from June 29, 2024 through July 31, 2024. Operating results for the period from June 29, 2024
- Net increase (decrease) in net assets resulting from operations will vary from period to period as a result of various factors, including the level of new investment commitments, expenses, the recognition of realized gains and losses, and changes in unrealized appreciation and depreciation on the investment portfolio.
- On July 19, 2024, prior to our election to be regulated as a BDC under the 1940 Act, funds and accounts managed or advised by the Adviser, including TIAA and certain entities directly or indirectly owned by TIAA, sold certain portfolio investments to the Company (at fair value) in the amount of $526,102 (the “Initial Portfolio”). The Company accrued investment income on the Initial Portfolio beginning July 20, 2024. For the period from June 29, 2024 to July 31, 2024, investment income was $2,135. We expect our portfolio to continue to grow as we raise capital through our offering and our investment income to grow commensurately. The shifting environment in base interest rates may affect our investment income over the long term.