Nuveen Churchill Private Capital Income Fund 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 09, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Securities Act File Number	001-04321
Entity Registrant Name	NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-6187397
Entity Address, Address Line One	430 Park Avenue, 14th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	478-9200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,540,040
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001911066
Amendment Flag	false

CONSOLIDATED STATEMENT OF ASSET

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investments
Non-controlled/non-affiliate company investments, at fair value (amortized cost of $382,694 and $352,998, respectively)	$ 394,196	$ 349,518
Cash and cash equivalents	16,297	65,785
Due from affiliate expense support (See Note 4)	2,413	2,215
Interest receivable	4,510	4,282
Dividend receivable	73	0
Receivable for investments sold	232	196
Prepaid expenses	26	29
Total assets	401,735	422,025
Liabilities
Secured borrowings (net of $629 and $647 deferred financing costs, respectively) (See Note 5)	134,871	154,353
Distributions payable	2,424	3,109
Interest payable	461	533
Due to affiliate expense support (See Note 4)	2,413	2,215
Board of Trustees' fees payable	125	128
Accounts payable and accrued expenses	1,589	1,386
Total liabilities	141,883	161,724
Commitments and contingencies (See Note 6)
Net Assets: (See Note 7)
Common shares of beneficial interest, par value $0.01 per share, unlimited shares authorized, 10,540,040 and 10,540,040 Class I shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	105	105
Paid-in-capital in excess of par value	263,396	263,396
Total distributable earnings (loss)	(3,649)	(3,200)
Total net assets	259,852	260,301
Total liabilities and net assets	$ 401,735	$ 422,025
Net asset value per Class I share (in dollars per share)	$ 24.65	$ 24.70
Non-controlled/Non-affiliated
Investments
Non-controlled/non-affiliate company investments, at fair value (amortized cost of $382,694 and $352,998, respectively)	$ 378,184	$ 349,518

CONSOLIDATED STATEMENT OF ASS_2

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized cost	$ 398,706	$ 352,998
Deferred financing costs	$ 629	$ 647
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	10,540,040	10,540,040
Common shares, shares outstanding (in shares)	10,540,040	10,540,040
Non-controlled/Non-affiliated
Amortized cost	$ 382,694	$ 352,998

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023
Investment income:
Payment-in-kind interest income		$ 567
Dividend Income		73
Other income		18
Expenses:
Organizational expenses	$ 736	0
Interest and debt financing expenses	0	2,476
Professional fees	188	201
Board of Trustees’ fees	3	125
Administration fees (See Note 4)	10	118
Other general and administrative expenses	0	130
Offering costs	4	131
Total expenses before expense support	941	3,181
Expense support (See Note 4)	(928)	(155)
Net expenses after expense support	13	3,026
Net investment income (loss)	(13)	7,213
Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments	0	8
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments	0	(1,030)
Net increase (decrease) in net assets resulting from operations	$ (13)	$ 6,191
Per share data:
Net investment income (loss) per share - Class I common share, basic	$ 0	$ 0.68
Net investment income (loss) per share - Class I common share, diluted	0	0.68
Net increase (decrease) in net assets resulting from operations per share - Class I common share	$ 0	$ 0.59
Weighted average common shares outstanding - Class I common share, basic	5,270,040	10,540,040
Weighted average common shares outstanding - Class I common share, diluted	5,270,040	10,540,040
Non-controlled/Non-affiliated
Investment income:
Interest income	$ 0	$ 9,581
Payment-in-kind interest income	0	567
Dividend Income	0	73
Other income	0	18
Total investment income	0	10,239
Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments	0	8
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments	0	(1,030)
Total net realized and unrealized gain (loss) on investments	$ 0	$ (1,022)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS - USD ($) $ in Thousands		2 Months Ended	3 Months Ended
		Mar. 31, 2022	Mar. 31, 2023
Increase (decrease) in net assets resulting from operations
Net investment income (loss)		$ (13)	$ 7,213
Net realized gain (loss) on investments		0	8
Net change in unrealized appreciation (depreciation) on investments		0	(1,030)
Net increase (decrease) in net assets resulting from operations		(13)	6,191
Shareholder distributions
Class I	[1]	0	(6,640)
Net increase (decrease) in net assets resulting from shareholder distributions		0	(6,640)
Capital share transactions
Issuance of common shares, net		263,501	0
Net increase (decrease) in net assets resulting from capital share transactions - Class I		263,501	0
Total increase (decrease) in net assets		263,488	(449)
Net assets, at beginning of period			260,301
Net assets, at end of period		$ 263,488	$ 259,852
[1]For the three months ended March 31, 2023, distributions declared from earnings were derived from net investment income.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$ (13)	$ 6,191
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments	0	(30,181)
Proceeds from principal repayments and sales of investments	0	1,336
Payment-in-kind interest	0	(563)
Amortization of premium/accretion of discount, net	0	(280)
Net realized (gain) loss on investments	0	(8)
Net change in unrealized (appreciation) depreciation on investments	0	1,030
Amortization of deferred financing costs	0	15
Changes in operating assets and liabilities:
Due from affiliate expense support	(983)	(198)
Receivable for investments sold	0	(36)
Interest receivable	0	(228)
Dividend receivable	0	(73)
Prepaid expenses	0	3
Interest payable	0	(72)
Due to affiliate expense support	983	198
Board of Trustees' fees payable	3	(3)
Accounts payable and accrued expenses	10	227
Net cash provided by (used in) operating activities	0	(22,642)
Cash flows from financing activities:
Proceeds from issuance of common shares	1	0
Proceeds from secured borrowings	0	27,500
Repayments of secured borrowings	0	(47,000)
Distributions paid	0	(7,325)
Payments of deferred financing costs	0	(21)
Net cash provided by (used in) financing activities	1	(26,846)
Net increase (decrease) in cash and cash equivalents	1	(49,488)
Cash and cash equivalents, beginning of period	0	65,785
Cash and cash equivalents, end of period	1	16,297
Supplemental information and non-cash activities:
Purchases of investments	(296,231)	0
Cash paid during the period for interest	0	2,509
Notes Payable	32,731	0
Amortization of deferred financing costs paid through expense support	0	24
Cash paid during the period for excise taxes	0	2
Issuance of Class I common shares, net	$ 263,500	$ 0

CONSOLIDATED SCHEDULE OF INVEST

CONSOLIDATED SCHEDULE OF INVESTMENTS - USD ($) $ in Thousands		Mar. 31, 2023		Dec. 31, 2022
Schedule of Investments [Line Items]
Cost		$ 398,706		$ 352,998
Fair Value		$ 394,196		$ 349,518
% of Net Assets		151.71%	[1]	134.27%	[2]
Debt Investments
Schedule of Investments [Line Items]
Cost		$ 378,000		$ 349,421
Fair Value		$ 372,571		$ 345,180
% of Net Assets		143.38%	[1]	132.60%	[2]
Equity Investments
Schedule of Investments [Line Items]
Cost		$ 4,694		$ 3,577
Fair Value		$ 5,613		$ 4,338
% of Net Assets		2.17%	[1]	1.67%	[2]
Cash Equivalents
Schedule of Investments [Line Items]
Cost	[3]	$ 16,012
Fair Value	[3]	$ 16,012
% of Net Assets	[1],[3]	6.16%
Automotive | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 3,910		$ 3,918
Fair Value		$ 3,884		$ 3,893
% of Net Assets		1.49%	[1]	1.50%	[2]
Banking, Finance, Insurance, Real Estate | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 1,367		$ 375
Fair Value		$ 1,256		$ 266
% of Net Assets		0.48%	[1]	0.10%	[2]
Beverage, Food & Tobacco | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 45,919		$ 43,357
Fair Value		$ 45,503		$ 43,015
% of Net Assets		17.51%	[1]	16.53%	[2]
Beverage, Food & Tobacco | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 681		$ 681
Fair Value		$ 909		$ 831
% of Net Assets		0.36%	[1]	0.32%	[2]
Capital Equipment | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 12,137		$ 6,891
Fair Value		$ 12,101		$ 6,937
% of Net Assets		4.66%	[1]	2.66%	[2]
Capital Equipment | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 160
Fair Value		$ 160
% of Net Assets	[1]	0.06%
Chemicals, Plastics, & Rubber | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 14,111		$ 14,083
Fair Value		$ 13,998		$ 13,976
% of Net Assets		5.39%	[1]	5.37%	[2]
Chemicals, Plastics, & Rubber | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 504		$ 504
Fair Value		$ 931		$ 980
% of Net Assets		0.35%	[1]	0.38%	[2]
Construction & Building | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 15,687		$ 15,713
Fair Value		$ 15,422		$ 15,568
% of Net Assets		5.94%	[1]	5.98%	[2]
Construction & Building | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 212		$ 212
Fair Value		$ 203		$ 219
% of Net Assets		0.08%	[1]	0.08%	[2]
Consumer Goods: Durable | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 15,868		$ 15,875
Fair Value		$ 15,634		$ 15,653
% of Net Assets		6.02%	[1]	6.01%	[2]
Consumer Goods: Non-Durable | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 26,388		$ 26,344
Fair Value		$ 26,216		$ 26,157
% of Net Assets		10.09%	[1]	10.05%	[2]
Consumer Goods: Non-Durable | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 763		$ 228
Fair Value		$ 798		$ 263
% of Net Assets		0.31%	[1]	0.10%	[2]
Containers, Packaging & Glass | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 16,352		$ 16,335
Fair Value		$ 16,333		$ 16,303
% of Net Assets		6.29%	[1]	6.26%	[2]
Containers, Packaging & Glass | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 780		$ 719
Fair Value		$ 819		$ 774
% of Net Assets		0.32%	[1]	0.30%	[2]
Energy: Oil & Gas | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 22,269		$ 21,951
Fair Value		$ 21,317		$ 21,275
% of Net Assets		8.20%	[1]	8.17%	[2]
Environmental Industries | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 9,763		$ 7,734
Fair Value		$ 9,549		$ 7,661
% of Net Assets		3.67%	[1]	2.94%	[2]
Healthcare & Pharmaceuticals | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 29,230		$ 25,919
Fair Value		$ 28,568		$ 25,541
% of Net Assets		11%	[1]	9.81%	[2]
Healthcare & Pharmaceuticals | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 162
Fair Value		$ 162
% of Net Assets	[1]	0.06%
High Tech Industries | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 11,753		$ 9,449
Fair Value		$ 11,705		$ 9,414
% of Net Assets		4.51%	[1]	3.62%	[2]
High Tech Industries | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 119		$ 119
Fair Value		$ 159		$ 158
% of Net Assets		0.06%	[1]	0.06%	[2]
Media: Advertising, Printing & Publishing | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 6,895		$ 6,906
Fair Value		$ 6,901		$ 6,916
% of Net Assets		2.66%	[1]	2.66%	[2]
Services: Business | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 62,300		$ 59,479
Fair Value		$ 61,386		$ 58,583
% of Net Assets		23.62%	[1]	22.51%	[2]
Services: Business | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 868		$ 865
Fair Value		$ 954		$ 782
% of Net Assets		0.37%	[1]	0.30%	[2]
Services: Consumer | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 28,213		$ 23,623
Fair Value		$ 27,594		$ 23,088
% of Net Assets		10.61%	[1]	8.87%	[2]
Services: Consumer | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 338		$ 142
Fair Value		$ 344		$ 151
% of Net Assets		0.13%	[1]	0.06%	[2]
Sovereign & Public Finance | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 3,612		$ 3,617
Fair Value		$ 3,607		$ 3,607
% of Net Assets		1.39%	[1]	1.39%	[2]
Sovereign & Public Finance | Equity Investments
Schedule of Investments [Line Items]
Cost		$ 107		$ 107
Fair Value		$ 174		$ 180
% of Net Assets		0.07%	[1]	0.07%	[2]
Telecommunications | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 6,882		$ 6,894
Fair Value		$ 6,672		$ 6,720
% of Net Assets		2.57%	[1]	2.58%	[2]
Transportation: Cargo | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 10,884		$ 10,902
Fair Value		$ 10,846		$ 10,901
% of Net Assets		4.17%	[1]	4.18%	[2]
Wholesale | Debt Investments
Schedule of Investments [Line Items]
Cost		$ 34,460		$ 30,056
Fair Value		$ 34,079		$ 29,706
% of Net Assets		13.11%	[1]	11.41%	[2]
Investment, Identifier [Axis]: A Place for Mom, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.50%	[4],[5],[6]	4.50%	[7],[8],[9],[10]
Interest Rate		9.41%	[4],[5],[6]	9.09%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,915	[4],[5]	$ 6,936	[7],[8],[9]
Cost		6,915	[4],[5]	6,936	[7],[8],[9]
Fair Value		$ 6,639	[4],[5]	$ 6,657	[7],[8],[9]
% of Net Assets		2.55%	[1],[4],[5]	2.56%	[2],[7],[8],[9]
Investment, Identifier [Axis]: ADPD Holdings, LLC (a/k/a NearU)
Schedule of Investments [Line Items]
Spread Above Reference Rate		6%	[4],[5],[6],[11]	6%	[7],[8],[9],[10]
Interest Rate		10.91%	[4],[5],[6],[11]	10.59%	[7],[8],[9],[10]
Par Amount / Unit		$ 4,885	[4],[5],[11]	$ 4,848	[7],[8],[9]
Cost		4,846	[4],[5],[11]	4,807	[7],[8],[9]
Fair Value		$ 4,804	[4],[5],[11]	$ 4,800	[7],[8],[9]
% of Net Assets		1.85%	[1],[4],[5],[11]	1.84%	[2],[7],[8],[9]
Investment, Identifier [Axis]: ADPD Holdings, LLC (a/k/a NearU) (Delayed Draw) 1
Schedule of Investments [Line Items]
Spread Above Reference Rate		6%	[4],[5],[6],[11],[12]	6%	[7],[8],[9],[10],[13]
Interest Rate		10.91%	[4],[5],[6],[11],[12]	10.59%	[7],[8],[9],[10],[13]
Par Amount / Unit		$ 1,000	[4],[5],[11],[12]	$ 1,000	[7],[8],[9],[13]
Cost		0	[4],[5],[11],[12]	0	[7],[8],[9],[13]
Fair Value		$ (17)	[4],[5],[11],[12]	$ (10)	[7],[8],[9],[13]
% of Net Assets		(0.01%)	[1],[4],[5],[11],[12]	0%	[2],[7],[8],[9],[13]
Investment, Identifier [Axis]: ADPD Holdings, LLC (a/k/a NearU) (Delayed Draw) 2
Schedule of Investments [Line Items]
Spread Above Reference Rate		6%	[4],[5],[6],[11],[12]	6%	[7],[8],[9],[10],[13]
Interest Rate		10.91%	[4],[5],[6],[11],[12]	10.59%	[7],[8],[9],[10],[13]
Par Amount / Unit		$ 1,000	[4],[5],[11],[12]	$ 150	[7],[8],[9],[13]
Cost		0	[4],[5],[11],[12]	0	[7],[8],[9],[13]
Fair Value		$ (17)	[4],[5],[11],[12]	$ (1)	[7],[8],[9],[13]
% of Net Assets		(0.01%)	[1],[4],[5],[11],[12]	0%	[2],[7],[8],[9],[13]
Investment, Identifier [Axis]: ADPD Holdings, LLC (a/k/a NearU) (Delayed Draw) 3
Schedule of Investments [Line Items]
Spread Above Reference Rate	[7],[8],[9],[10],[13]			6%
Interest Rate	[7],[8],[9],[10],[13]			10.59%
Par Amount / Unit	[7],[8],[9],[13]			$ 1,000
Cost	[7],[8],[9],[13]			0
Fair Value	[7],[8],[9],[13]			$ (10)
% of Net Assets	[2],[7],[8],[9],[13]			0%
Investment, Identifier [Axis]: ADPD Holdings, LLC (a/k/a NearU) 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost	[8],[14],[15]			$ 142
Fair Value	[8],[14],[15]			$ 151
% of Net Assets	[2],[8],[14],[15]			0.06%
Share / Unit	[8],[14],[15]			1,000
Investment, Identifier [Axis]: ADPD Holdings, LLC (a/k/a NearU) 2
Schedule of Investments [Line Items]
Cost	[5],[16],[17]	$ 142
Fair Value	[5],[16],[17]	$ 148
% of Net Assets	[1],[5],[16],[17]	0.06%
Share / Unit	[5],[16],[17]	1,419
Investment, Identifier [Axis]: AMC Buyer, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6]	5.50%	[7],[8],[10]
Interest Rate		10.41%	[4],[5],[6]	10.09%	[7],[8],[10]
Par Amount / Unit		$ 6,930	[4],[5]	$ 6,947	[7],[8]
Cost		6,907	[4],[5]	6,919	[7],[8]
Fair Value		$ 6,930	[4],[5]	$ 6,947	[7],[8]
% of Net Assets		2.67%	[1],[4],[5]	2.67%	[2],[7],[8]
Investment, Identifier [Axis]: Accupac, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[11]	5.50%	[7],[8],[9],[10]
Interest Rate		10.41%	[4],[5],[6],[11]	10.09%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,929	[4],[5],[11]	$ 6,946	[7],[8],[9]
Cost		6,909	[4],[5],[11]	6,923	[7],[8],[9]
Fair Value		$ 6,728	[4],[5],[11]	$ 6,815	[7],[8],[9]
% of Net Assets		2.59%	[1],[4],[5],[11]	2.62%	[2],[7],[8],[9]
Investment, Identifier [Axis]: AmSpec Group, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6],[11]	5.75%	[7],[8],[9],[10]
Interest Rate		10.94%	[4],[5],[6],[11]	10.52%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,928	[4],[5],[11]	$ 6,946	[7],[8],[9]
Cost		6,928	[4],[5],[11]	6,946	[7],[8],[9]
Fair Value		$ 6,918	[4],[5],[11]	$ 6,945	[7],[8],[9]
% of Net Assets		2.66%	[1],[4],[5],[11]	2.67%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Apex Services Partners, LLC (Delayed Draw) (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[11]	5.50%	[7],[8],[9],[10]
Interest Rate		10.41%	[4],[5],[6],[11]	10.09%	[7],[8],[9],[10]
Par Amount / Unit		$ 2,985	[4],[5],[11]	$ 3,000	[7],[8],[9]
Cost		2,974	[4],[5],[11]	2,987	[7],[8],[9]
Fair Value		$ 2,966	[4],[5],[11]	$ 2,981	[7],[8],[9]
% of Net Assets		1.14%	[1],[4],[5],[11]	1.14%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Apex Services Partners, LLC (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[11]	5.50%	[7],[8],[9],[10]
Interest Rate		10.41%	[4],[5],[6],[11]	10.09%	[7],[8],[9],[10]
Par Amount / Unit		$ 2,985	[4],[5],[11]	$ 3,000	[7],[8],[9]
Cost		2,961	[4],[5],[11]	2,973	[7],[8],[9]
Fair Value		$ 2,966	[4],[5],[11]	$ 2,981	[7],[8],[9]
% of Net Assets		1.14%	[1],[4],[5],[11]	1.14%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Arise Holdings Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.25%	[4],[5],[6]	4.25%	[7],[8],[10]
Interest Rate		9.56%	[4],[5],[6]	8.84%	[7],[8],[10]
Par Amount / Unit		$ 6,929	[4],[5]	$ 6,946	[7],[8]
Cost		6,882	[4],[5]	6,894	[7],[8]
Fair Value		$ 6,672	[4],[5]	$ 6,720	[7],[8]
% of Net Assets		2.57%	[1],[4],[5]	2.58%	[2],[7],[8]
Investment, Identifier [Axis]: BroadcastMed Holdco, LLC
Schedule of Investments [Line Items]
Interest Rate		10%	[5],[6]	10%	[8],[10]
Interest Rate, PIK		3.75%	[5],[6]	3.75%	[8],[10]
Par Amount / Unit		$ 2,673	[5]	$ 2,649	[8]
Cost		2,624	[5]	2,597	[8]
Fair Value		$ 2,621	[5]	$ 2,598	[8]
% of Net Assets		1.01%	[1],[5]	1%	[2],[8]
Investment, Identifier [Axis]: BroadcastMed Holdco, LLC 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 655	[5],[16],[17]	$ 655	[8],[14],[15]
Fair Value		$ 826	[5],[16],[17]	$ 655	[8],[14],[15]
% of Net Assets		0.32%	[1],[5],[16],[17]	0.25%	[2],[8],[14],[15]
Share / Unit		43,679	[5],[16],[17]	44,000	[8],[14],[15]
Investment, Identifier [Axis]: Brown & Joseph, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6]	5.75%	[7],[8],[10]
Interest Rate		10.41%	[4],[5],[6]	10.34%	[7],[8],[10]
Par Amount / Unit		$ 6,674	[4],[5]	$ 6,945	[7],[8]
Cost		6,632	[4],[5]	6,896	[7],[8]
Fair Value		$ 6,649	[4],[5]	$ 6,920	[7],[8]
% of Net Assets		2.56%	[1],[4],[5]	2.66%	[2],[7],[8]
Investment, Identifier [Axis]: CDI AcquisitionCo, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.50%	[4],[5],[6]	4.50%	[7],[8],[10]
Interest Rate		9.40%	[4],[5],[6]	9.28%	[7],[8],[10]
Par Amount / Unit		$ 6,819	[4],[5]	$ 6,865	[7],[8]
Cost		6,799	[4],[5]	6,840	[7],[8]
Fair Value		$ 6,779	[4],[5]	$ 6,827	[7],[8]
% of Net Assets		2.61%	[1],[4],[5]	2.62%	[2],[7],[8]
Investment, Identifier [Axis]: CV Holdco, LLC
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 105	[5],[16],[17]	$ 102	[8],[14],[15]
Fair Value		$ 44	[5],[16],[17]	$ 49	[8],[14],[15]
% of Net Assets		0.02%	[1],[5],[16],[17]	0.02%	[2],[8],[14],[15]
Share / Unit		1,038	[5],[16],[17]	1,000	[8],[14],[15]
Investment, Identifier [Axis]: CV Intermediate Holdco Corp.
Schedule of Investments [Line Items]
Interest Rate		11%	[5],[6]	11%	[8],[10]
Par Amount / Unit		$ 10,000	[5]	$ 10,000	[8]
Cost		9,859	[5]	9,848	[8]
Fair Value		$ 9,311	[5]	$ 9,333	[8]
% of Net Assets		3.58%	[1],[5]	3.59%	[2],[8]
Investment, Identifier [Axis]: Class Valuation
Schedule of Investments [Line Items]
Interest Rate		11%	[5],[6]	11%	[8],[10]
Par Amount / Unit		$ 444	[5]	$ 444	[8]
Cost		436	[5]	436	[8]
Fair Value		$ 414	[5]	$ 415	[8]
% of Net Assets		0.16%	[1],[5]	0.16%	[2],[8]
Investment, Identifier [Axis]: Cold Spring Brewing Company
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.75%	[4],[5],[6]	4.75%	[7],[8],[10]
Interest Rate		9.55%	[4],[5],[6]	9.11%	[7],[8],[10]
Par Amount / Unit		$ 6,575	[4],[5]	$ 6,805	[7],[8]
Cost		6,575	[4],[5]	6,805	[7],[8]
Fair Value		$ 6,574	[4],[5]	$ 6,804	[7],[8]
% of Net Assets		2.53%	[1],[4],[5]	2.61%	[2],[7],[8]
Investment, Identifier [Axis]: CrossCountry Consulting
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6],[11]	5.75%	[7],[8],[9],[10]
Interest Rate		10.66%	[4],[5],[6],[11]	10.34%	[7],[8],[9],[10]
Par Amount / Unit		$ 1,390	[4],[5],[11]	$ 1,393	[7],[8],[9]
Cost		1,365	[4],[5],[11]	1,367	[7],[8],[9]
Fair Value		$ 1,373	[4],[5],[11]	$ 1,376	[7],[8],[9]
% of Net Assets		0.53%	[1],[4],[5],[11]	0.53%	[2],[7],[8],[9]
Investment, Identifier [Axis]: CrossCountry Consulting (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[5],[6],[11],[12]	5.75%	[8],[9],[10],[13]
Interest Rate		10.66%	[5],[6],[11],[12]	10.34%	[8],[9],[10],[13]
Par Amount / Unit		$ 560	[5],[11],[12]	$ 560	[8],[9],[13]
Cost		(5)	[5],[11],[12]	(5)	[8],[9],[13]
Fair Value		$ (7)	[5],[11],[12]	$ (7)	[8],[9],[13]
% of Net Assets		0%	[1],[5],[11],[12]	0%	[2],[8],[9],[13]
Investment, Identifier [Axis]: Dresser Utility Solutions, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.11%	[4],[5],[6]	8.64%	[7],[8],[10]
Par Amount / Unit		$ 3,465	[4],[5]	$ 3,473	[7],[8]
Cost		3,465	[4],[5]	3,473	[7],[8]
Fair Value		$ 3,464	[4],[5]	$ 3,473	[7],[8]
% of Net Assets		1.33%	[1],[4],[5]	1.33%	[2],[7],[8]
Investment, Identifier [Axis]: Dresser Utility Solutions, LLC (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.25%	[4],[5],[6]	4.25%	[7],[8],[10]
Interest Rate		9.11%	[4],[5],[6]	9.64%	[7],[8],[10]
Par Amount / Unit		$ 3,464	[4],[5]	$ 3,473	[7],[8]
Cost		3,425	[4],[5]	3,429	[7],[8]
Fair Value		$ 3,388	[4],[5]	$ 3,399	[7],[8]
% of Net Assets		1.30%	[1],[4],[5]	1.30%	[2],[7],[8]
Investment, Identifier [Axis]: EFC Holdings, LLC
Schedule of Investments [Line Items]
Interest Rate	[5],[6],[12]	11%
Interest Rate, PIK	[5],[6],[12]	2.50%
Par Amount / Unit	[5],[12]	$ 2,405
Cost	[5],[12]	2,329
Fair Value	[5],[12]	$ 2,328
% of Net Assets	[1],[5],[12]	0.90%
Investment, Identifier [Axis]: EFC Holdings, LLC 1
Schedule of Investments [Line Items]
Cost	[5],[16],[17]	$ 114
Fair Value	[5],[16],[17]	$ 114
% of Net Assets	[1],[5],[16],[17]	0.04%
Share / Unit	[5],[16],[17]	114
Investment, Identifier [Axis]: EFC Holdings, LLC 2
Schedule of Investments [Line Items]
Cost	[5],[16],[17]	$ 46
Fair Value	[5],[16],[17]	$ 46
% of Net Assets	[1],[5],[16],[17]	0.02%
Share / Unit	[5],[16],[17]	114
Investment, Identifier [Axis]: Elevation Labs
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.16%	[4],[5],[6]	9.84%	[7],[8],[10]
Par Amount / Unit		$ 1,312	[4],[5]	$ 1,315	[7],[8]
Cost		1,300	[4],[5]	1,303	[7],[8]
Fair Value		$ 1,296	[4],[5]	$ 1,301	[7],[8]
% of Net Assets		0.50%	[1],[4],[5]	0.50%	[2],[7],[8]
Investment, Identifier [Axis]: Elevation Labs (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6],[12]	5.25%	[7],[8],[10],[13]
Interest Rate		10.16%	[4],[5],[6],[12]	9.84%	[7],[8],[10],[13]
Par Amount / Unit		$ 599	[4],[5],[12]	$ 599	[7],[8],[13]
Cost		(3)	[4],[5],[12]	(3)	[7],[8],[13]
Fair Value		$ (7)	[4],[5],[12]	$ (6)	[7],[8],[13]
% of Net Assets		0%	[1],[4],[5],[12]	0%	[2],[7],[8],[13]
Investment, Identifier [Axis]: Evergreen Services Group
Schedule of Investments [Line Items]
Spread Above Reference Rate		6%	[4],[5],[6],[11]	6%	[7],[8],[9],[10]
Interest Rate		10.91%	[4],[5],[6],[11]	10.59%	[7],[8],[9],[10]
Par Amount / Unit		$ 4,057	[4],[5],[11]	$ 4,068	[7],[8],[9]
Cost		3,984	[4],[5],[11]	3,991	[7],[8],[9]
Fair Value		$ 3,934	[4],[5],[11]	$ 3,971	[7],[8],[9]
% of Net Assets		1.51%	[1],[4],[5],[11]	1.52%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Evergreen Services Group (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		6%	[4],[5],[6],[11]	6%	[7],[8],[9],[10]
Interest Rate		10.91%	[4],[5],[6],[11]	10.59%	[7],[8],[9],[10]
Par Amount / Unit		$ 970	[4],[5],[11]	$ 970	[7],[8],[9]
Cost		962	[4],[5],[11]	694	[7],[8],[9]
Fair Value		$ 941	[4],[5],[11]	$ 680	[7],[8],[9]
% of Net Assets		0.36%	[1],[4],[5],[11]	0.26%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Excel Fitness
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.16%	[4],[5],[6]	9.84%	[7],[8],[10]
Par Amount / Unit		$ 5,970	[4],[5]	$ 5,985	[7],[8]
Cost		5,909	[4],[5]	5,920	[7],[8]
Fair Value		$ 5,674	[4],[5]	$ 5,690	[7],[8]
% of Net Assets		2.18%	[1],[4],[5]	2.19%	[2],[7],[8]
Investment, Identifier [Axis]: FSK Pallet Holding Corp. (DBA Kamps Pallets)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6]	5%	[7],[8],[10]
Interest Rate		10.41%	[4],[5],[6]	9.77%	[7],[8],[10]
Par Amount / Unit		$ 5,970	[4],[5]	$ 5,985	[7],[8]
Cost		5,861	[4],[5]	5,870	[7],[8]
Fair Value		$ 5,824	[4],[5]	$ 5,869	[7],[8]
% of Net Assets		2.24%	[1],[4],[5]	2.25%	[2],[7],[8]
Investment, Identifier [Axis]: Fortune International, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.75%	[4],[5],[6]	4.75%	[7],[8],[10]
Interest Rate		9.94%	[4],[5],[6]	9.52%	[7],[8],[10]
Par Amount / Unit		$ 6,930	[4],[5]	$ 6,948	[7],[8]
Cost		6,880	[4],[5]	6,891	[7],[8]
Fair Value		$ 6,814	[4],[5]	$ 6,802	[7],[8]
% of Net Assets		2.62%	[1],[4],[5]	2.61%	[2],[7],[8]
Investment, Identifier [Axis]: Freedom U.S. Acquisition Corporation
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.50%	[4],[5],[6]	4.50%	[7],[8],[10]
Interest Rate		9.69%	[4],[5],[6]	9.27%	[7],[8],[10]
Par Amount / Unit		$ 7,000	[4],[5]	$ 7,000	[7],[8]
Cost		7,000	[4],[5]	7,000	[7],[8]
Fair Value		$ 6,958	[4],[5]	$ 6,955	[7],[8]
% of Net Assets		2.68%	[1],[4],[5]	2.67%	[2],[7],[8]
Investment, Identifier [Axis]: Fresh Edge
Schedule of Investments [Line Items]
Spread Above Reference Rate		9%	[4],[5],[6]	9%	[8],[10]
Interest Rate		13.91%	[4],[5],[6]	13.36%	[8],[10]
Par Amount / Unit		$ 2,890	[4],[5]	$ 2,890	[8]
Cost		2,818	[4],[5]	2,820	[8]
Fair Value		$ 2,821	[4],[5]	$ 2,820	[8]
% of Net Assets		1.09%	[1],[4],[5]	1.08%	[2],[8]
Investment, Identifier [Axis]: Fresh Edge 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 454	[5],[16],[17]	$ 454	[8],[14],[15]
Fair Value		$ 477	[5],[16],[17]	$ 454	[8],[14],[15]
% of Net Assets		0.18%	[1],[5],[16],[17]	0.17%	[2],[8],[14],[15]
Share / Unit		454	[5],[16],[17]	0	[8],[14],[15]
Investment, Identifier [Axis]: Fresh Edge 2
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 0	[5],[16],[17]	$ 0	[8],[14],[15]
Fair Value		$ 49	[5],[16],[17]	$ 0	[8],[14],[15]
% of Net Assets		0.02%	[1],[5],[16],[17]	0%	[2],[8],[14],[15]
Share / Unit		454	[5],[16],[17]	0	[8],[14],[15]
Investment, Identifier [Axis]: Gannett Fleming
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.50%	[4],[5],[6]	6.50%	[7],[8],[10]
Interest Rate		11.41%	[4],[5],[6]	11.09%	[7],[8],[10]
Par Amount / Unit		$ 1,995	[4],[5]	$ 2,000	[7],[8]
Cost		1,957	[4],[5]	1,960	[7],[8]
Fair Value		$ 1,956	[4],[5]	$ 1,960	[7],[8]
% of Net Assets		0.75%	[1],[4],[5]	0.76%	[2],[7],[8]
Investment, Identifier [Axis]: Gannett Fleming 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 85	[5],[16],[17]	$ 85	[8],[14],[15]
Fair Value		$ 99	[5],[16],[17]	$ 85	[8],[14],[15]
% of Net Assets		0.04%	[1],[5],[16],[17]	0.03%	[2],[8],[14],[15]
Share / Unit		84,949	[5],[16],[17]	85,000	[8],[14],[15]
Investment, Identifier [Axis]: GenServe LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.75%	[4],[5],[6],[11]	5.25%	[7],[8],[9],[10]
Interest Rate		9.94%	[4],[5],[6],[11]	9.84%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,930	[4],[5],[11]	$ 6,947	[7],[8],[9]
Cost		6,886	[4],[5],[11]	6,891	[7],[8],[9]
Fair Value		$ 6,858	[4],[5],[11]	$ 6,937	[7],[8],[9]
% of Net Assets		2.64%	[1],[4],[5],[11]	2.66%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Harvest Hill Beverage Company
Schedule of Investments [Line Items]
Spread Above Reference Rate	[5],[6]	9%
Interest Rate	[5],[6]	13.80%
Par Amount / Unit	[5]	$ 2,800
Cost	[5]	2,718
Fair Value	[5]	$ 2,717
% of Net Assets	[1],[5]	1.04%
Investment, Identifier [Axis]: Health Management Associates
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6]	6.50%
Interest Rate	[4],[5],[6]	11.30%
Par Amount / Unit	[4],[5]	$ 3,439
Cost	[4],[5]	3,370
Fair Value	[4],[5]	$ 3,370
% of Net Assets	[1],[4],[5]	1.30%
Investment, Identifier [Axis]: Health Management Associates (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6],[12]	6.50%
Interest Rate	[4],[5],[6],[12]	11.30%
Par Amount / Unit	[4],[5],[12]	$ 611
Cost	[4],[5],[12]	(12)
Fair Value	[4],[5],[12]	$ (12)
% of Net Assets	[1],[4],[5],[12]	0%
Investment, Identifier [Axis]: Health Management Associates 1
Schedule of Investments [Line Items]
Cost	[5],[16],[17]	$ 162
Fair Value	[5],[16],[17]	$ 162
% of Net Assets	[1],[5],[16],[17]	0.06%
Share / Unit	[5],[16],[17]	161,953
Investment, Identifier [Axis]: Heartland Veterinary Partners LLC (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		7.50%	[5],[6]	7.50%	[8],[10]
Interest Rate		12.41%	[5],[6]	12.09%	[8],[10]
Par Amount / Unit		$ 1,000	[5]	$ 1,000	[8]
Cost		983	[5]	982	[8]
Fair Value		$ 976	[5]	$ 980	[8]
% of Net Assets		0.38%	[1],[5]	0.38%	[2],[8]
Investment, Identifier [Axis]: Heartland Veterinary Partners LLC (Incremental) (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		7.50%	[5],[6],[12]	7.50%	[8],[10],[13]
Interest Rate		12.41%	[5],[6],[12]	12.09%	[8],[10],[13]
Par Amount / Unit		$ 5,000	[5],[12]	$ 5,000	[8],[13]
Cost		0	[5],[12]	0	[8],[13]
Fair Value		$ (120)	[5],[12]	$ (100)	[8],[13]
% of Net Assets		(0.05%)	[1],[5],[12]	(0.04%)	[2],[8],[13]
Investment, Identifier [Axis]: Hyphen Solutions, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[11]	5.50%	[7],[8],[9],[10]
Interest Rate		10.36%	[4],[5],[6],[11]	9.89%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,930	[4],[5],[11]	$ 6,947	[7],[8],[9]
Cost		6,886	[4],[5],[11]	6,898	[7],[8],[9]
Fair Value		$ 6,795	[4],[5],[11]	$ 6,804	[7],[8],[9]
% of Net Assets		2.62%	[1],[4],[5],[11]	2.61%	[2],[7],[8],[9]
Investment, Identifier [Axis]: INS Intermediate II, LLC (Ergotech Controls, Inc. – d/b/a INS)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6]	6.50%
Interest Rate	[4],[5],[6]	11.41%
Par Amount / Unit	[4],[5]	$ 4,618
Cost	[4],[5]	4,529
Fair Value	[4],[5]	$ 4,529
% of Net Assets	[1],[4],[5]	1.74%
Investment, Identifier [Axis]: INS Intermediate II, LLC (Ergotech Controls, Inc. – d/b/a INS) (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6],[12]	6.50%
Interest Rate	[4],[5],[6],[12]	11.41%
Par Amount / Unit	[4],[5],[12]	$ 1,139
Cost	[4],[5],[12]	(22)
Fair Value	[4],[5],[12]	$ (22)
% of Net Assets	[1],[4],[5],[12]	(0.01%)
Investment, Identifier [Axis]: ISG Merger Sub, LLC (dba Industrial Service Group)
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.25%	[4],[5],[6]	6.25%	[7],[8],[10]
Interest Rate		11.05%	[4],[5],[6]	10.61%	[7],[8],[10]
Par Amount / Unit		$ 2,472	[4],[5]	$ 2,479	[7],[8]
Cost		2,425	[4],[5]	2,429	[7],[8]
Fair Value		$ 2,425	[4],[5]	$ 2,429	[7],[8]
% of Net Assets		0.93%	[1],[4],[5]	0.93%	[2],[7],[8]
Investment, Identifier [Axis]: ISG Merger Sub, LLC (dba Industrial Service Group) (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.25%	[4],[5],[6],[12]	6.25%	[7],[8],[10],[13]
Interest Rate		11.05%	[4],[5],[6],[12]	10.61%	[7],[8],[10],[13]
Par Amount / Unit		$ 1,282	[4],[5],[12]	$ 1,282	[7],[8],[13]
Cost		(6)	[4],[5],[12]	(6)	[7],[8],[13]
Fair Value		$ (25)	[4],[5],[12]	$ (25)	[7],[8],[13]
% of Net Assets		(0.01%)	[1],[4],[5],[12]	(0.01%)	[2],[7],[8],[13]
Investment, Identifier [Axis]: ITSavvy LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.16%	[4],[5],[6]	9.84%	[7],[8],[10]
Par Amount / Unit		$ 1,789	[4],[5]	$ 1,793	[7],[8]
Cost		1,773	[4],[5]	1,776	[7],[8]
Fair Value		$ 1,780	[4],[5]	$ 1,793	[7],[8]
% of Net Assets		0.69%	[1],[4],[5]	0.69%	[2],[7],[8]
Investment, Identifier [Axis]: ITSavvy LLC (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[5],[6],[12]	5.25%	[8],[10],[13]
Interest Rate		10.16%	[5],[6],[12]	9.84%	[8],[10],[13]
Par Amount / Unit		$ 432	[5],[12]	$ 480	[8],[13]
Cost		392	[5],[12]	(5)	[8],[13]
Fair Value		$ 394	[5],[12]	$ 0	[8],[13]
% of Net Assets		0.15%	[1],[5],[12]	0%	[2],[8],[13]
Investment, Identifier [Axis]: ITSavvy LLC 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 119	[5],[16],[17]	$ 119	[8],[14],[15]
Fair Value		$ 159	[5],[16],[17]	$ 158	[8],[14],[15]
% of Net Assets		0.06%	[1],[5],[16],[17]	0.06%	[2],[8],[14],[15]
Share / Unit		119	[5],[16],[17]	0	[8],[14],[15]
Investment, Identifier [Axis]: Image International Intermediate Holdco II, LLC (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[11]	5.50%	[7],[8],[9],[10]
Interest Rate		10.36%	[4],[5],[6],[11]	10.27%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,992	[4],[5],[11]	$ 6,992	[7],[8],[9]
Cost		6,972	[4],[5],[11]	6,950	[7],[8],[9]
Fair Value		$ 6,802	[4],[5],[11]	$ 6,873	[7],[8],[9]
% of Net Assets		2.62%	[1],[4],[5],[11]	2.64%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Impact Parent Corporation (d/b/a Impact Environmental Group)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6]	6%
Interest Rate	[4],[5],[6]	10.90%
Par Amount / Unit	[4],[5]	$ 2,092
Cost	[4],[5]	2,050
Fair Value	[4],[5]	$ 2,050
% of Net Assets	[1],[4],[5]	0.79%
Investment, Identifier [Axis]: Impact Parent Corporation (d/b/a Impact Environmental Group) (Delayed Draw
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6],[12]	6%
Interest Rate	[4],[5],[6],[12]	10.90%
Par Amount / Unit	[4],[5],[12]	$ 972
Cost	[4],[5],[12]	(5)
Fair Value	[4],[5],[12]	$ (19)
% of Net Assets	[1],[4],[5],[12]	(0.01%)
Investment, Identifier [Axis]: Infinite Bidco LLC (Infinite Electronics) (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6],[11]	6.25%
Interest Rate	[4],[5],[6],[11]	11.16%
Par Amount / Unit	[4],[5],[11]	$ 1,987
Cost	[4],[5],[11]	1,929
Fair Value	[4],[5],[11]	$ 1,928
% of Net Assets	[1],[4],[5],[11]	0.74%
Investment, Identifier [Axis]: Infobase Acquisition, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6]	5.50%	[7],[8],[10]
Interest Rate		10.41%	[4],[5],[6]	10.09%	[7],[8],[10]
Par Amount / Unit		$ 736	[4],[5]	$ 738	[7],[8]
Cost		730	[4],[5]	731	[7],[8]
Fair Value		$ 724	[4],[5]	$ 729	[7],[8]
% of Net Assets		0.28%	[1],[4],[5]	0.28%	[2],[7],[8]
Investment, Identifier [Axis]: Infobase Acquisition, Inc. (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[5],[6],[12]	5.50%	[8],[10],[13]
Interest Rate		10.41%	[5],[6],[12]	10.09%	[8],[10],[13]
Par Amount / Unit		$ 122	[5],[12]	$ 122	[8],[13]
Cost		0	[5],[12]	0	[8],[13]
Fair Value		$ (2)	[5],[12]	$ (2)	[8],[13]
% of Net Assets		0%	[1],[5],[12]	0%	[2],[8],[13]
Investment, Identifier [Axis]: Kenco Group, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6]	5.50%	[7],[8],[10]
Interest Rate		10.41%	[4],[5],[6]	10.09%	[7],[8],[10]
Par Amount / Unit		$ 5,137	[4],[5]	$ 5,150	[7],[8]
Cost		5,039	[4],[5]	5,049	[7],[8]
Fair Value		$ 5,038	[4],[5]	$ 5,049	[7],[8]
% of Net Assets		1.94%	[1],[4],[5]	1.94%	[2],[7],[8]
Investment, Identifier [Axis]: Kenco Group, Inc. (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[12]	5.50%	[7],[8],[10],[13]
Interest Rate		10.41%	[4],[5],[6],[12]	10.09%	[7],[8],[10],[13]
Par Amount / Unit		$ 850	[4],[5],[12]	$ 850	[7],[8],[13]
Cost		(16)	[4],[5],[12]	(17)	[7],[8],[13]
Fair Value		$ (16)	[4],[5],[12]	$ (17)	[7],[8],[13]
% of Net Assets		(0.01%)	[1],[4],[5],[12]	(0.01%)	[2],[7],[8],[13]
Investment, Identifier [Axis]: Kofile, Inc.
Schedule of Investments [Line Items]
Interest Rate		10%	[5],[6]	10%	[8],[10]
Interest Rate, PIK		1.75%	[5],[6]	1.75%	[8],[10]
Par Amount / Unit		$ 10,172	[5]	$ 10,128	[8]
Cost		10,172	[5]	10,128	[8]
Fair Value		$ 10,040	[5]	$ 9,987	[8]
% of Net Assets		3.86%	[1],[5]	3.84%	[2],[8]
Investment, Identifier [Axis]: Kofile, Inc. 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost	[8],[14],[15]			$ 108
Fair Value	[8],[14],[15]			$ 78
% of Net Assets	[2],[8],[14],[15]			0.03%
Share / Unit	[8],[14],[15]			0
Investment, Identifier [Axis]: Kofile, Inc. 2
Schedule of Investments [Line Items]
Cost	[5],[16],[17]	$ 108
Fair Value	[5],[16],[17]	$ 84
% of Net Assets	[1],[5],[16],[17]	0.03%
Share / Unit	[5],[16],[17]	100
Investment, Identifier [Axis]: LMI Consulting, LLC (LMI)
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.50%	[4],[5],[6]	6.50%	[7],[8],[10]
Interest Rate		11.41%	[4],[5],[6]	11.09%	[7],[8],[10]
Par Amount / Unit		$ 740	[4],[5]	$ 742	[7],[8]
Cost		726	[4],[5]	728	[7],[8]
Fair Value		$ 718	[4],[5]	$ 718	[7],[8]
% of Net Assets		0.28%	[1],[4],[5]	0.28%	[2],[7],[8]
Investment, Identifier [Axis]: LMI Consulting, LLC (LMI) (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.50%	[4],[5],[6]	6.50%	[7],[8],[10]
Interest Rate		11.41%	[4],[5],[6]	11.09%	[7],[8],[10]
Par Amount / Unit		$ 2,978	[4],[5]	$ 2,985	[7],[8]
Cost		2,886	[4],[5]	2,889	[7],[8]
Fair Value		$ 2,889	[4],[5]	$ 2,889	[7],[8]
% of Net Assets		1.11%	[1],[4],[5]	1.11%	[2],[7],[8]
Investment, Identifier [Axis]: LMI Renaissance
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 107	[5],[16],[17]	$ 107	[8],[14],[15]
Fair Value		$ 174	[5],[16],[17]	$ 180	[8],[14],[15]
% of Net Assets		0.07%	[1],[5],[16],[17]	0.07%	[2],[8],[14],[15]
Share / Unit		106,984	[5],[16],[17]	107,000	[8],[14],[15]
Investment, Identifier [Axis]: Legacy Service Partners, LLC (“LSP”)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6]	6.50%
Interest Rate	[4],[5],[6]	11.41%
Par Amount / Unit	[4],[5]	$ 4,095
Cost	[4],[5]	4,017
Fair Value	[4],[5]	$ 4,016
% of Net Assets	[1],[4],[5]	1.55%
Investment, Identifier [Axis]: Legacy Service Partners, LLC (“LSP”) (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6],[12]	6.50%
Interest Rate	[4],[5],[6],[12]	11.41%
Par Amount / Unit	[4],[5],[12]	$ 1,905
Cost	[4],[5],[12]	591
Fair Value	[4],[5],[12]	$ 563
% of Net Assets	[1],[4],[5],[12]	0.22%
Investment, Identifier [Axis]: Legacy Service Partners, LLC (“LSP”) 1
Schedule of Investments [Line Items]
Cost	[5],[16],[17]	$ 196
Fair Value	[5],[16],[17]	$ 196
% of Net Assets	[5],[16],[17]	0.07%
Share / Unit	[5],[16],[17]	1,963
Investment, Identifier [Axis]: Marco APE Opco Holdings, LLC
Schedule of Investments [Line Items]
Interest Rate	[8],[10]			10.50%
Interest Rate, PIK	[8],[10]			4.25%
Par Amount / Unit		$ 8,951	[5]	$ 8,633	[8]
Cost		8,451	[5]	8,103	[8]
Fair Value		$ 7,547	[5]	$ 7,458	[8]
% of Net Assets		2.91%	[1],[5]	2.87%	[2],[8]
Investment, Identifier [Axis]: Mr. Greens
Schedule of Investments [Line Items]
Interest Rate	[8],[10]			10%
Interest Rate, PIK	[8],[10]			2%
Par Amount / Unit	[8]			$ 10,153
Cost		$ 101	[5],[16],[17]	9,807	[8]
Fair Value		$ 292	[5],[16],[17]	$ 10,153	[8]
% of Net Assets		0.11%	[1],[5],[16],[17]	3.90%	[2],[8]
Share / Unit	[5],[16],[17]	1,000
Investment, Identifier [Axis]: Mr. Greens 1
Schedule of Investments [Line Items]
Interest Rate		10%	[5],[6]	0%	[8],[10],[14],[15]
Interest Rate, PIK	[5],[6]	2%
Par Amount / Unit	[5]	$ 10,204
Cost		9,884	[5]	$ 101	[8],[14],[15]
Fair Value		$ 10,204	[5]	$ 276	[8],[14],[15]
% of Net Assets		3.93%	[1],[5]	0.11%	[2],[8],[14],[15]
Share / Unit	[8],[14],[15]			1,000
Investment, Identifier [Axis]: NMC Skincare Intermediate Holdings II, LLC (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5%	[4],[5],[6],[11]	5%	[7],[8],[9],[10]
Interest Rate		10.19%	[4],[5],[6],[11]	9.77%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,928	[4],[5],[11]	$ 6,946	[7],[8],[9]
Cost		6,846	[4],[5],[11]	6,849	[7],[8],[9]
Fair Value		$ 6,655	[4],[5],[11]	$ 6,672	[7],[8],[9]
% of Net Assets		2.56%	[1],[4],[5],[11]	2.56%	[2],[7],[8],[9]
Investment, Identifier [Axis]: New Era Technology, Inc
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.25%	[4],[5],[6],[11]	6.25%	[7],[8],[9],[10]
Interest Rate		11.44%	[4],[5],[6],[11]	11.02%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,929	[4],[5],[11]	$ 6,947	[7],[8],[9]
Cost		6,905	[4],[5],[11]	6,919	[7],[8],[9]
Fair Value		$ 6,684	[4],[5],[11]	$ 6,650	[7],[8],[9]
% of Net Assets		2.57%	[1],[4],[5],[11]	2.56%	[2],[7],[8],[9]
Investment, Identifier [Axis]: New ILC Dover, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		5%	[4],[5],[6],[11]	5%	[7],[8],[9],[10]
Interest Rate		10.19%	[4],[5],[6],[11]	9.77%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,929	[4],[5],[11]	$ 6,947	[7],[8],[9]
Cost		6,919	[4],[5],[11]	6,935	[7],[8],[9]
Fair Value		$ 6,928	[4],[5],[11]	$ 6,946	[7],[8],[9]
% of Net Assets		2.67%	[1],[4],[5],[11]	2.67%	[2],[7],[8],[9]
Investment, Identifier [Axis]: New You Bariatric Group, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.16%	[4],[5],[6]	9.84%	[7],[8],[10]
Par Amount / Unit		$ 6,928	[4],[5]	$ 6,946	[7],[8]
Cost		6,928	[4],[5]	6,946	[7],[8]
Fair Value		$ 6,685	[4],[5]	$ 6,838	[7],[8]
% of Net Assets		2.57%	[1],[4],[5]	2.63%	[2],[7],[8]
Investment, Identifier [Axis]: Nonni's Foods, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6]	5%	[7],[8],[10]
Interest Rate		10.36%	[4],[5],[6]	9.39%	[7],[8],[10]
Par Amount / Unit		$ 6,945	[4],[5]	$ 6,963	[7],[8]
Cost		6,943	[4],[5]	6,958	[7],[8]
Fair Value		$ 6,854	[4],[5]	$ 6,915	[7],[8]
% of Net Assets		2.64%	[1],[4],[5]	2.66%	[2],[7],[8]
Investment, Identifier [Axis]: North Haven Stack Buyer, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[11]	5.50%	[7],[8],[9],[10]
Interest Rate		10.30%	[4],[5],[6],[11]	9.86%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,930	[4],[5],[11]	$ 6,947	[7],[8],[9]
Cost		6,903	[4],[5],[11]	6,918	[7],[8],[9]
Fair Value		$ 6,704	[4],[5],[11]	$ 6,845	[7],[8],[9]
% of Net Assets		2.58%	[1],[4],[5],[11]	2.63%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Nutrition 101 Buyer LLC (a/k/a 101, Inc.)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.05%	[4],[5],[6]	9.61%	[7],[8],[10]
Par Amount / Unit		$ 822	[4],[5]	$ 824	[7],[8]
Cost		815	[4],[5]	816	[7],[8]
Fair Value		$ 814	[4],[5]	$ 816	[7],[8]
% of Net Assets		0.31%	[1],[4],[5]	0.31%	[2],[7],[8]
Investment, Identifier [Axis]: Oliver Packaging
Schedule of Investments [Line Items]
Interest Rate		10%	[5],[6]	10%	[8],[10]
Interest Rate, PIK		1%	[5],[6]	1%	[8],[10]
Par Amount / Unit		$ 1,334	[5]	$ 1,332	[8]
Cost		1,311	[5]	1,308	[8]
Fair Value		$ 1,283	[5]	$ 1,265	[8]
% of Net Assets		0.49%	[1],[5]	0.48%	[2],[8]
Investment, Identifier [Axis]: Oliver Packaging 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 671	[5],[16],[17]	$ 610	[8],[14],[15]
Fair Value		$ 671	[5],[16],[17]	$ 639	[8],[14],[15]
% of Net Assets		0.26%	[1],[5],[16],[17]	0.25%	[2],[8],[14],[15]
Share / Unit		6,710	[5],[16],[17]	6,000	[8],[14],[15]
Investment, Identifier [Axis]: Ovation Holdings, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6]	6.25%
Interest Rate	[4],[5],[6]	11.16%
Par Amount / Unit	[4],[5]	$ 2,995
Cost	[4],[5]	2,931
Fair Value	[4],[5]	$ 2,930
% of Net Assets	[1],[4],[5]	1.13%
Investment, Identifier [Axis]: Ovation Holdings, Inc. (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[4],[5],[6],[12]	6.25%
Interest Rate	[4],[5],[6],[12]	11.16%
Par Amount / Unit	[4],[5],[12]	$ 705
Cost	[4],[5],[12]	(9)
Fair Value	[4],[5],[12]	$ (15)
% of Net Assets	[1],[4],[5],[12]	(0.01%)
Investment, Identifier [Axis]: PG Aggregator, LLC
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 109	[5],[16],[17]	$ 109	[8],[14],[15]
Fair Value		$ 148	[5],[16],[17]	$ 135	[8],[14],[15]
% of Net Assets		0.06%	[1],[5],[16],[17]	0.05%	[2],[8],[14],[15]
Share / Unit		100	[5],[16],[17]	0	[8],[14],[15]
Investment, Identifier [Axis]: PG Buyer, LLC
Schedule of Investments [Line Items]
Interest Rate		10%	[5],[6]	1.50%	[8],[10]
Interest Rate, PIK		1.50%	[5],[6]	10%	[8],[10]
Par Amount / Unit		$ 8,122	[5]	$ 8,092	[8]
Cost		8,122	[5]	8,092	[8]
Fair Value		$ 8,122	[5]	$ 8,092	[8]
% of Net Assets		3.13%	[1],[5]	3.11%	[2],[8]
Investment, Identifier [Axis]: Patriot Growth Insurance Service (Delayed Draw) (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6],[11],[12]	5.75%	[7],[8],[9],[10],[13]
Interest Rate		10.94%	[4],[5],[6],[11],[12]	10.52%	[7],[8],[9],[10],[13]
Par Amount / Unit		$ 5,995	[4],[5],[11],[12]	$ 5,999	[7],[8],[9],[13]
Cost		1,367	[4],[5],[11],[12]	375	[7],[8],[9],[13]
Fair Value		$ 1,256	[4],[5],[11],[12]	$ 266	[7],[8],[9],[13]
% of Net Assets		0.48%	[1],[4],[5],[11],[12]	0.10%	[2],[7],[8],[9],[13]
Investment, Identifier [Axis]: Phaidon International
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[18]	5.50%	[7],[8],[10],[19],[20]
Interest Rate		10.30%	[4],[5],[6],[18]	9.86%	[7],[8],[10],[19],[20]
Par Amount / Unit		$ 6,913	[4],[5],[18]	$ 7,000	[7],[8],[19],[20]
Cost		6,851	[4],[5],[18]	6,932	[7],[8],[19],[20]
Fair Value		$ 6,912	[4],[5],[18]	$ 6,916	[7],[8],[19],[20]
% of Net Assets		2.66%	[1],[4],[5],[18]	2.66%	[2],[7],[8],[19],[20]
Investment, Identifier [Axis]: RVGD Aggregator LP (Revision Skincare)
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 98	[5],[16],[17]	$ 98	[8],[14],[15]
Fair Value		$ 139	[5],[16],[17]	$ 133	[8],[14],[15]
% of Net Assets		0.05%	[1],[5],[16],[17]	0.05%	[2],[8],[14],[15]
Share / Unit		100	[5],[16],[17]	0	[8],[14],[15]
Investment, Identifier [Axis]: Randys Holdings, Inc
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.50%	[4],[5],[6],[11]	6.50%	[7],[8],[9],[10]
Interest Rate		11.41%	[4],[5],[6],[11]	11.09%	[7],[8],[9],[10]
Par Amount / Unit		$ 3,987	[4],[5],[11]	$ 3,996	[7],[8],[9]
Cost		3,910	[4],[5],[11]	3,918	[7],[8],[9]
Fair Value		$ 3,910	[4],[5],[11]	$ 3,919	[7],[8],[9]
% of Net Assets		1.50%	[1],[4],[5],[11]	1.51%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Randys Holdings, Inc (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.50%	[4],[5],[6],[11],[12]	6.50%	[7],[8],[9],[10],[13]
Interest Rate		11.41%	[4],[5],[6],[11],[12]	11.09%	[7],[8],[9],[10],[13]
Par Amount / Unit		$ 1,332	[4],[5],[11],[12]	$ 1,332	[7],[8],[9],[13]
Cost		0	[4],[5],[11],[12]	0	[7],[8],[9],[13]
Fair Value		$ (26)	[4],[5],[11],[12]	$ (26)	[7],[8],[9],[13]
% of Net Assets		(0.01%)	[1],[4],[5],[11],[12]	(0.01%)	[2],[7],[8],[9],[13]
Investment, Identifier [Axis]: Red Dawn SEI Buyer, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		8.25%	[5],[6]	8.25%	[8],[10]
Interest Rate		13.44%	[5],[6]	13.02%	[8],[10]
Par Amount / Unit		$ 6,650	[5]	$ 6,650	[8]
Cost		6,650	[5]	6,650	[8]
Fair Value		$ 6,613	[5]	$ 6,650	[8]
% of Net Assets		2.55%	[1],[5]	2.54%	[2],[8]
Investment, Identifier [Axis]: Red Dawn SEI Buyer, Inc. (Incremental)
Schedule of Investments [Line Items]
Spread Above Reference Rate		8.50%	[5],[6]	8.50%	[8],[10]
Interest Rate		13.69%	[5],[6]	13.27%	[8],[10]
Par Amount / Unit		$ 3,350	[5]	$ 3,350	[8]
Cost		3,350	[5]	3,350	[8]
Fair Value		$ 3,350	[5]	$ 3,350	[8]
% of Net Assets		1.29%	[1],[5]	1.29%	[2],[8]
Investment, Identifier [Axis]: Revision Buyer LLC
Schedule of Investments [Line Items]
Interest Rate		10%	[5],[6]	10%	[8],[10]
Interest Rate, PIK		1%	[5],[6]	1%	[8],[10]
Par Amount / Unit		$ 10,100	[5]	$ 10,075	[8]
Cost		9,922	[5]	9,889	[8]
Fair Value		$ 10,121	[5]	$ 9,896	[8]
% of Net Assets		3.89%	[1],[5]	3.80%	[2],[8]
Investment, Identifier [Axis]: SCP Eye Care Holdco, LLC (DBA EyeSouth Partners)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6]	5.75%	[7],[8],[10]
Interest Rate		10.66%	[4],[5],[6]	10.34%	[7],[8],[10]
Par Amount / Unit		$ 2,259	[4],[5]	$ 2,265	[7],[8]
Cost		2,213	[4],[5]	2,217	[7],[8]
Fair Value		$ 2,216	[4],[5]	$ 2,221	[7],[8]
% of Net Assets		0.85%	[1],[4],[5]	0.85%	[2],[7],[8]
Investment, Identifier [Axis]: SCP Eye Care Holdco, LLC (DBA EyeSouth Partners) (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6],[12]	5.75%	[7],[8],[10],[13]
Interest Rate		10.66%	[4],[5],[6],[12]	10.34%	[7],[8],[10],[13]
Par Amount / Unit		$ 735	[4],[5],[12]	$ 735	[7],[8],[13]
Cost		0	[4],[5],[12]	0	[7],[8],[13]
Fair Value		$ (14)	[4],[5],[12]	$ (14)	[7],[8],[13]
% of Net Assets		(0.01%)	[1],[4],[5],[12]	(0.01%)	[2],[7],[8],[13]
Investment, Identifier [Axis]: SPI LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5%	[4],[5],[6],[11]	5%	[7],[8],[9],[10]
Interest Rate		9.91%	[4],[5],[6],[11]	9.59%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,930	[4],[5],[11]	$ 6,948	[7],[8],[9]
Cost		6,844	[4],[5],[11]	6,855	[7],[8],[9]
Fair Value		$ 6,671	[4],[5],[11]	$ 6,804	[7],[8],[9]
% of Net Assets		2.57%	[1],[4],[5],[11]	2.61%	[2],[7],[8],[9]
Investment, Identifier [Axis]: SW Ingredients Holdings, LLC
Schedule of Investments [Line Items]
Interest Rate		10.50%	[5],[6]	10.50%	[8],[10]
Interest Rate, PIK		1%	[5],[6]	1%	[8],[10]
Par Amount / Unit		$ 10,101	[5]	$ 10,076	[8]
Cost		10,101	[5]	10,076	[8]
Fair Value		$ 9,519	[5]	$ 9,521	[8]
% of Net Assets		3.66%	[1],[5]	3.67%	[2],[8]
Investment, Identifier [Axis]: Solaray, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6],[11]	5.75%	[7],[8],[9],[10]
Interest Rate		10.66%	[4],[5],[6],[11]	10.34%	[7],[8],[9],[10]
Par Amount / Unit		$ 6,926	[4],[5],[11]	$ 6,963	[7],[8],[9]
Cost		6,923	[4],[5],[11]	6,955	[7],[8],[9]
Fair Value		$ 6,779	[4],[5],[11]	$ 6,878	[7],[8],[9]
% of Net Assets		2.61%	[1],[4],[5],[11]	2.64%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Southern Veterinary Partners
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.50%	[4],[5],[6],[11]	5.50%	[7],[8],[9],[10]
Interest Rate		10.30%	[4],[5],[6],[11]	9.86%	[7],[8],[9],[10]
Par Amount / Unit		$ 3,077	[4],[5],[11]	$ 3,085	[7],[8],[9]
Cost		3,022	[4],[5],[11]	3,026	[7],[8],[9]
Fair Value		$ 3,018	[4],[5],[11]	$ 3,022	[7],[8],[9]
% of Net Assets		1.16%	[1],[4],[5],[11]	1.16%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Spartech
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.75%	[4],[5],[6],[11]	4.75%	[7],[8],[9],[10]
Interest Rate		9.94%	[4],[5],[6],[11]	9.52%	[7],[8],[9],[10]
Par Amount / Unit		$ 3,960	[4],[5],[11]	$ 3,970	[7],[8],[9]
Cost		3,960	[4],[5],[11]	3,970	[7],[8],[9]
Fair Value		$ 3,847	[4],[5],[11]	$ 3,863	[7],[8],[9]
% of Net Assets		1.48%	[1],[4],[5],[11]	1.48%	[2],[7],[8],[9]
Investment, Identifier [Axis]: Specialist Resources Global Inc. (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		4.50%	[4],[5],[6]	4.50%	[7],[8],[10]
Interest Rate		9.36%	[4],[5],[6]	8.89%	[7],[8],[10]
Par Amount / Unit		$ 6,929	[4],[5]	$ 6,947	[7],[8]
Cost		6,929	[4],[5]	6,947	[7],[8]
Fair Value		$ 6,881	[4],[5]	$ 6,894	[7],[8]
% of Net Assets		2.65%	[1],[4],[5]	2.65%	[2],[7],[8]
Investment, Identifier [Axis]: Spice World
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 126	[5],[16],[17]	$ 126	[8],[14],[15]
Fair Value		$ 91	[5],[16],[17]	$ 101	[8],[14],[15]
% of Net Assets		0.05%	[1],[5],[16],[17]	0.04%	[2],[8],[14],[15]
Share / Unit		1,000	[5],[16],[17]	1,000	[8],[14],[15]
Investment, Identifier [Axis]: SupplyOne, Inc.
Schedule of Investments [Line Items]
Interest Rate		10%	[5],[6]	10%	[8],[10]
Interest Rate, PIK		1.50%	[5],[6]	1.50%	[8],[10]
Par Amount / Unit		$ 10,151	[5]	$ 10,113	[8]
Cost		10,151	[5]	10,113	[8]
Fair Value		$ 10,151	[5]	$ 10,113	[8]
% of Net Assets		3.91%	[1],[5]	3.89%	[2],[8]
Investment, Identifier [Axis]: SupplyOne, Inc. 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 504	[5],[16],[17]	$ 504	[8],[14],[15]
Fair Value		$ 931	[5],[16],[17]	$ 980	[8],[14],[15]
% of Net Assets		0.35%	[1],[5],[16],[17]	0.38%	[2],[8],[14],[15]
Share / Unit		1,000	[5],[16],[17]	1,000	[8],[14],[15]
Investment, Identifier [Axis]: Transit Buyer LLC (dba“Propark”)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[5],[6]	6.25%
Interest Rate	[5],[6]	11.15%
Par Amount / Unit	[5]	$ 2,545
Cost	[5]	2,496
Fair Value	[5]	$ 2,495
% of Net Assets	[1],[5]	0.96%
Investment, Identifier [Axis]: Transit Buyer LLC (dba“Propark”) (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate	[5],[6],[12]	6.25%
Interest Rate	[5],[6],[12]	11.15%
Par Amount / Unit	[5],[12]	$ 1,157
Cost	[5],[12]	(22)
Fair Value	[5],[12]	$ (23)
% of Net Assets	[1],[5],[12]	(0.01%)
Investment, Identifier [Axis]: Trench Plate Rental Co.
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 127	[5],[16],[17]	$ 127	[8],[14],[15]
Fair Value		$ 104	[5],[16],[17]	$ 134	[8],[14],[15]
% of Net Assets		0.04%	[1],[5],[16],[17]	0.05%	[2],[8],[14],[15]
Share / Unit		1,000	[5],[16],[17]	1,000	[8],[14],[15]
Investment, Identifier [Axis]: Trilon Group, LLC (Delayed Draw) 1
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.25%	[4],[5],[6]	6.25%	[7],[8],[10],[13]
Interest Rate		11.16%	[4],[5],[6]	10.84%	[7],[8],[10],[13]
Par Amount / Unit		$ 400	[4],[5]	$ 400	[7],[8],[13]
Cost		400	[4],[5]	37	[7],[8],[13]
Fair Value		$ 395	[4],[5]	$ 32	[7],[8],[13]
% of Net Assets		0.15%	[1],[4],[5]	0.01%	[2],[7],[8],[13]
Investment, Identifier [Axis]: Trilon Group, LLC (Delayed Draw) 2
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.66%	[4],[5],[6]	9.84%	[7],[8],[10]
Par Amount / Unit		$ 2,993	[4],[5]	$ 3,000	[7],[8]
Cost		2,993	[4],[5]	3,000	[7],[8]
Fair Value		$ 2,891	[4],[5]	$ 2,888	[7],[8]
% of Net Assets		1.11%	[1],[4],[5]	1.11%	[2],[7],[8]
Investment, Identifier [Axis]: Trilon Group, LLC 1
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6]	5.25%	[7],[8],[10]
Interest Rate		10.66%	[4],[5],[6]	9.84%	[7],[8],[10]
Par Amount / Unit		$ 2,985	[4],[5]	$ 2,993	[7],[8]
Cost		2,958	[4],[5]	2,964	[7],[8]
Fair Value		$ 2,884	[4],[5]	$ 2,881	[7],[8]
% of Net Assets		1.11%	[1],[4],[5]	1.11%	[2],[7],[8]
Investment, Identifier [Axis]: Trilon Group, LLC 2
Schedule of Investments [Line Items]
Spread Above Reference Rate		6.25%	[4],[5],[6]	6.25%	[7],[8],[10]
Interest Rate		11.16%	[4],[5],[6]	10.84%	[7],[8],[10]
Par Amount / Unit		$ 600	[4],[5]	$ 600	[7],[8]
Cost		595	[4],[5]	594	[7],[8]
Fair Value		$ 593	[4],[5]	$ 593	[7],[8]
% of Net Assets		0.23%	[1],[4],[5]	0.23%	[2],[7],[8]
Investment, Identifier [Axis]: US Radiology Specialists, Inc.
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[6],[11],[21]	5.25%	[7],[9],[10],[22]
Interest Rate		10.44%	[4],[6],[11],[21]	10.02%	[7],[9],[10],[22]
Par Amount / Unit		$ 1,878	[4],[11],[21]	$ 1,882	[7],[9],[22]
Cost		1,797	[4],[11],[21]	1,798	[7],[9],[22]
Fair Value		$ 1,769	[4],[11],[21]	$ 1,704	[7],[9],[22]
% of Net Assets		0.68%	[1],[4],[11],[21]	0.66%	[2],[7],[9],[22]
Investment, Identifier [Axis]: Ultima Health Holdings, LLC
Schedule of Investments [Line Items]
Interest Rate		11%	[5],[6]	11%	[8],[10]
Interest Rate, PIK		1.50%	[5],[6]	1.50%	[8],[10]
Par Amount / Unit		$ 1,311	[5]	$ 1,306	[8]
Cost		1,288	[5]	1,282	[8]
Fair Value		$ 1,276	[5]	$ 1,278	[8]
% of Net Assets		0.49%	[1],[5]	0.49%	[2],[8]
Investment, Identifier [Axis]: Ultima Health Holdings, LLC 1
Schedule of Investments [Line Items]
Interest Rate	[8],[10],[14],[15]			0%
Cost		$ 130	[5],[16],[17]	$ 130	[8],[14],[15]
Fair Value		$ 124	[5],[16],[17]	$ 130	[8],[14],[15]
% of Net Assets		0.05%	[1],[5],[16],[17]	0.05%	[2],[8],[14],[15]
Share / Unit		11	[5],[16],[17]	0	[8],[14],[15]
Investment, Identifier [Axis]: Viking Target, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5%	[4],[5],[6]	5%	[7],[8],[10]
Interest Rate		10.19%	[4],[5],[6]	9.77%	[7],[8],[10]
Par Amount / Unit		$ 6,926	[4],[5]	$ 6,945	[7],[8]
Cost		6,895	[4],[5]	6,906	[7],[8]
Fair Value		$ 6,901	[4],[5]	$ 6,916	[7],[8]
% of Net Assets		2.66%	[1],[4],[5]	2.66%	[2],[7],[8]
Investment, Identifier [Axis]: W2O Holdings, LLC
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.25%	[4],[5],[6]	4.75%	[7],[8],[10]
Interest Rate		10.16%	[4],[5],[6]	9.52%	[7],[8],[10]
Par Amount / Unit		$ 6,931	[4],[5]	$ 6,947	[7],[8]
Cost		6,931	[4],[5]	6,947	[7],[8]
Fair Value		$ 6,778	[4],[5]	$ 6,905	[7],[8]
% of Net Assets		2.61%	[1],[4],[5]	2.65%	[2],[7],[8]
Investment, Identifier [Axis]: WCI Holdings LLC
Schedule of Investments [Line Items]
Cost	[5],[16],[17]	$ 535
Fair Value	[5],[16],[17]	$ 535
% of Net Assets	[1],[5],[16],[17]	0.21%
Share / Unit	[5],[16],[17]	534,934
Investment, Identifier [Axis]: Wellspring Pharmaceutical
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[4],[5],[6]	5.75%	[7],[8],[10]
Interest Rate		10.65%	[4],[5],[6]	10.53%	[7],[8],[10]
Par Amount / Unit		$ 4,085	[4],[5]	$ 4,095	[7],[8]
Cost		4,011	[4],[5]	4,017	[7],[8]
Fair Value		$ 3,960	[4],[5]	$ 4,020	[7],[8]
% of Net Assets		1.53%	[1],[4],[5]	1.54%	[2],[7],[8]
Investment, Identifier [Axis]: Wellspring Pharmaceutical (Delayed Draw)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5.75%	[5],[6],[12]	5.75%	[8],[10],[13]
Interest Rate		10.65%	[5],[6],[12]	10.53%	[8],[10],[13]
Par Amount / Unit		$ 1,895	[5],[12]	$ 1,895	[8],[13]
Cost		(13)	[5],[12]	(14)	[8],[13]
Fair Value		$ (58)	[5],[12]	$ (35)	[8],[13]
% of Net Assets		(0.02%)	[1],[5],[12]	(0.01%)	[2],[8],[13]
Investment, Identifier [Axis]: Xpressmyself.com LLC (a/k/a SmartSign)
Schedule of Investments [Line Items]
Spread Above Reference Rate		5%	[4],[5],[6]	5%	[7],[8],[10]
Interest Rate		9.91%	[4],[5],[6]	9.59%	[7],[8],[10]
Par Amount / Unit		$ 2,040	[4],[5]	$ 2,045	[7],[8]
Cost		2,022	[4],[5]	2,026	[7],[8]
Fair Value		$ 2,021	[4],[5]	$ 2,026	[7],[8]
% of Net Assets		0.78%	[1],[4],[5]	0.78%	[2],[7],[8]
[1]Percentage is based on net assets of $259,852 as of March 31, 2023.[2]Percentage is based on net assets of $260,301 as of December 31, 2022.[3]Cash equivalents balance represents amounts held in an interest-bearing money market fund issued by U.S. Bank National Association.[4] Denotes that all or a portion of the assets are owned by SPV I (as defined in Note 1 “Organization”). SPV I entered into a senior secured revolving credit facility (the “Bank of America Credit Facility”) on April 19, 2022. The lenders of the Bank of America Credit Facility have a first lien security interest in substantially all of the assets of SPV I. Accordingly, such assets are not available to creditors of the Fund. See Note 5 “Secured Borrowings”. Investment valued using unobservable inputs (Level 3). See Note 2 Denotes that all or a portion of the assets are owned by SPV I (as defined in Note 1 “Organization”). SPV I entered into a senior secured revolving credit facility (the “Bank of America Credit Facility”) on April 19, 2022. The lenders of the Bank of America Credit Facility have a first lien security interest in substantially all of the assets of SPV I. Accordingly, such assets are not available to creditors of the Fund. See Note 5 “Secured Borrowings”. Investment valued using unobservable inputs (Level 3). See Note 2 Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. See Note 6 "Commitments and Contingencies". The investment may be subject to unused commitment fees. Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. See Note 6 "Commitments and Contingencies". The investment may be subject to unused commitment fees. Investments valued using observable inputs (Level 2). See Note 2 “Significant Accounting Policies – Valuation of Portfolio Investments” and Note 3 "Fair Value Measurements" for more information. Investments valued using observable inputs (Level 2). See Note 2 “Significant Accounting Policies – Valuation of Portfolio Investments” and Note 3 "Fair Value Measurements" for more information.

CONSOLIDATED SCHEDULE OF INVE_2

CONSOLIDATED SCHEDULE OF INVESTMENTS (Parenthetical) $ in Thousands	Mar. 31, 2023 USD ($) investment		Dec. 31, 2022 USD ($)
Schedule of Investments [Line Items]
Net assets	$ 259,852		$ 260,301
Aggregate fair value	$ 5,613		$ 4,338
Percent of net assets	151.71%	[1]	134.27%	[2]
Restricted Security
Schedule of Investments [Line Items]
Number of investments | investment	22
Percent of net assets	2.20%		1.70%
Qualifying Assets
Schedule of Investments [Line Items]
Percent of net assets	70%		70%
Non Qualifying Assets
Schedule of Investments [Line Items]
Percent of net assets	1.72%		1.64%
One Month Libor
Schedule of Investments [Line Items]
Effective interest rate	4.86%		4.39%
Three Month Libor
Schedule of Investments [Line Items]
Effective interest rate	5.19%		4.77%
Six Month Libor
Schedule of Investments [Line Items]
Effective interest rate	5.31%
One Month SOFR
Schedule of Investments [Line Items]
Effective interest rate	4.80%		4.36%
Three Month SOFR
Schedule of Investments [Line Items]
Effective interest rate	4.91%		4.59%
Six Month SOFR
Schedule of Investments [Line Items]
Effective interest rate	4.90%		4.78%
[1]Percentage is based on net assets of $259,852 as of March 31, 2023.[2]Percentage is based on net assets of $260,301 as of December 31, 2022.

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Nuveen Churchill Private Capital Income Fund (“PCAP”, and together with its consolidated subsidiaries, the “Fund”) is a Delaware statutory trust formed on February 8, 2022. PCAP is a non-diversified, closed-end management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund is externally managed by its adviser, Churchill Asset Management LLC (the “Adviser” or “Churchill”). Churchill is an indirect subsidiary of Nuveen, LLC (“Nuveen”). Churchill has engaged its affiliate, Nuveen Asset Management, LLC (“Nuveen Asset Management” or the “Sub-Adviser”), acting through its leveraged finance division, to manage certain of its Liquid Investments (defined below) pursuant to an investment sub-advisory agreement between the Adviser and Nuveen Asset Management (as discussed further in Note 4 ). The Fund has elected, and intends to qualify annually, to be treated for U.S. federal income tax purposes as a regulated investment company (“RIC”) as defined under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Fund’s investment objective is to generate attractive risk-adjusted returns primarily through current income and, secondarily, long-term capital appreciation, by investing in a diversified portfolio of private debt and equity investments in U.S. middle market companies owned by leading private equity firms, which the Fund defines as companies with approximately $10 million to $100 million of earnings before interest, taxes, depreciation and amortization (“EBITDA”). The Fund expects to primarily invest in first-lien senior secured debt and first-out positions in unitranche loans (collectively “Senior Loan Investments”), as well as junior debt investments, such as second-lien loans, unsecured debt, subordinated debt and last-out positions in unitranche loans (including fixed- and floating-rate instruments and instruments with payment-in-kind income) (“Junior Capital Investments”). Senior Loan Investments and Junior Capital Investments may be originated alongside smaller related common equity positions to the same portfolio companies. The portfolio also will include larger, stand-alone direct equity co-investments in private-equity backed companies that may or may not be originated alongside or separately from Senior Loan Investments and/or Junior Capital Investments to the applicable portfolio company (“Equity Co-Investments”). We expect to target an investment portfolio consisting, directly or indirectly, of at least 50% in Senior Loan Investments, up to 30% in Junior Capital Investments and up to 20% in Equity Co-Investments. To support the Fund’s share repurchase program (as discussed further in Note 7 ), the Fund also will invest 5% - 10% of its assets in cash and cash equivalents, liquid fixed-income securities (including broadly syndicated loans) and other liquid credit instruments (“Liquid Investments”). NCPIF SPV I LLC (“SPV I”), a Delaware limited liability company, formed on February 25, 2022. SPV I is a wholly owned subsidiary of the Fund and is consolidated in these consolidated financial statements commencing from the date of its formation. SPV I commenced operations on March 31, 2022, upon receipt of contribution of portfolio investments from TIAA to the Fund (as discussed further in Note 7 ). NCPIF Equity Holdings LLC (“Equity Holdings”), a Delaware limited liability company, was formed on April 1, 2022. Equity Holdings commenced operations on February 6, 2023. Equity Holdings is a wholly owned subsidiary of the Fund and is consolidated in these consolidated financial statements commencing from the date of its formation. The Fund is offering on a continuous basis up to $2.5 billion of common shares of beneficial interest (“Common Shares”). On May 17, 2022, the Securities and Exchange Commission (the “SEC”) granted an exemptive order permitting the Fund to offer multiple classes of Common Shares and to impose varying sales loads, asset-based service and/or distribution fees and early withdrawal fees. The Fund is offering to sell any combination of three classes of Common Shares, Class S shares, Class D shares and Class I shares, with a dollar value up to the maximum offering amount. The share classes have different ongoing shareholder servicing and/or distribution fees. None of the share classes being offered will have early withdrawal fees. The purchase price per share for each class of Common Shares will equal the Fund’s net asset value (“NAV”) per share as of the effective date of the monthly share purchase date. Nuveen Securities, LLC (the “Intermediary Manager”) will use its best efforts to sell Common Shares, but is not obligated to purchase or sell any specific amount of Common Shares in the offering. As of March 31, 2023, only Class I shares were issued and outstanding. The Fund will accept purchase orders and hold investors’ funds in an interest-bearing escrow account until it receives purchase orders for at least $2.5 million, excluding any Common Shares held by TIAA (as defined below), their respective affiliates and employees, and the Fund’s trustees and officers, in any combination of purchases of Class S shares, Class D shares and Class I shares and the Fund’s Board of Trustees (the “Board of Trustees” or “Board”) has authorized the release of funds in the escrow account. The Fund was established by Teachers Insurance and Annuity Association of America (“TIAA”), the ultimate parent of Churchill and Nuveen, and will operate as a wholly owned subsidiary of TIAA until the date on which it breaks escrow. On March 30, 2022, TIAA purchased 40 shares of the Fund’s Class I shares at $25.00 per share. On March 31, 2022, prior to the Fund’s election to be regulated as a BDC under the 1940 Act, TIAA contributed certain portfolio investments to the Fund in the amount of $296,231 (fair value as of March 31, 2022). In addition, on March 31, 2022, the Fund entered into a promissory note with TIAA (the “Note”) as the lender. The principal amount of the Note equaled (i) the fair value of portfolio investments contributed as of March 31, 2022, minus (ii) $263,500 (as discussed further in Note 4 ). In connection therewith, the Fund issued to TIAA 10,540,000 shares of the Fund’s Class I shares of beneficial interest at $25.00 per share. On June 3, 2022, the Fund fully repaid the balance on the Note to TIAA which was comprised of $32,731 and $226 of principal and interest, respectively.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The Fund is an investment company for the purposes of accounting and financial reporting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services—Investment Companies (“ASC 946”), and pursuant to Regulation S-X. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair statement of the consolidated financial statements for the period presented, have been included. U.S. GAAP for an investment company requires investments to be recorded at fair value. The carrying value for all other assets and liabilities approximates their fair value unless otherwise disclosed within. Consolidation As provided under ASC 946, the Fund will generally not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Fund. Accordingly, the consolidated financial statements include the accounts of the Fund and its wholly owned subsidiaries, SPV I and Equity Holdings. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Fund to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash, Restricted Cash and Cash Equivalents Cash and restricted cash represent cash deposits held at financial institutions, which at times may exceed U.S. federally insured limits. Cash equivalents include short-term highly liquid investments, such as money market funds, that are readily convertible to cash and have original maturities of three months or less. Cash, restricted cash and cash equivalents are carried at cost, which approximates fair value. As of March 31, 2023, the Fund did not hold any restricted cash. Valuation of Portfolio Investments Investments are valued in accordance with the fair value principles established by FASB ASC Topic 820, Fair Value Measurement (“ASC Topic 820”) and in accordance with the 1940 Act. ASC Topic 820’s definition of fair value focuses on the amount that would be received to sell the asset or paid to transfer the liability in the principal or most advantageous market, and prioritizes the use of market-based inputs (observable) over entity-specific inputs (unobservable) within a measurement of fair value. ASC Topic 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC Topic 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings, and provides for enhanced disclosures determined by the level within the hierarchy of information used in the valuation. In accordance with ASC Topic 820, these inputs are summarized in the three levels listed below: • Level 1 — Valuations are based on unadjusted, quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. • Level 2 — Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. • Level 3 — Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Active, publicly traded instruments are classified as Level 1 and their values are generally based on quoted market prices, even if both the market’s normal daily trading volume is not sufficient to absorb the quantity held and placing orders to sell the position in a single transaction might affect the quoted price. Fair value is generally determined as the price that would be received for an investment in a current sale, which assumes an orderly market is available for the market participants at the measurement date. If available, fair value of investments is based on directly observable market prices or on market data derived from comparable assets. The Fund’s valuation policy considers the fact that no ready market may exist for many of the securities in which it invests and that fair value for its investments must be determined using unobservable inputs. Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the Fund's valuation designee (the “Valuation Designee”) to determine the fair value of the Fund's investments that do not have readily available market quotations, effective beginning in the fiscal quarter ended March 31, 2023. Pursuant to the Fund's valuation policy approved by the Board, a valuation committee comprised of employees of the Adviser (the “Valuation Committee”) is responsible for determining the fair value of the Fund's assets for which market quotations are not readily available, subject to the oversight of the Board. With respect to investments for which market quotations are not readily available (Level 3), the Valuation Designee, subject to the oversight of the Board as described below, undertakes a multi-step valuation process each quarter, as follows: i. the quarterly valuation process will begin with each portfolio company or investment being initially valued by either the professionals of the applicable investment team that are responsible for the portfolio investment or an independent third-party valuation firm; ii. to the extent that an independent third-party valuation firm has not been engaged by, or on behalf of, the Board of Trustees to value 100% of the portfolio, then at a minimum, an independent third-party valuation firm will be engaged by, or on behalf of, the Fund will provide positive assurance of the portfolio each quarter (such that each investment is reviewed by a third-party valuation firm at least once on a rolling 12-month basis and each watch-list investment will be reviewed each quarter), including a review of management’s preliminary valuation and recommendation of fair value; iii. the Valuation Committee will then review and discuss the valuations with any input, where appropriate, from the independent valuation firms, and determine the fair value of each investment in good faith based on the Fund’s valuation policy, subject to the oversight of the Board; and iv. the Valuation Designee will provide the Board with the information relating to the fair value determination pursuant to the Fund's valuation policy in connection with each quarterly Board meeting and discuss with the Board its determination of the fair value of each investment in good faith. The Valuation Designee makes this fair value determination on a quarterly basis and in such other instances when a decision regarding the fair value of the portfolio investments is required. Factors considered by the Valuation Designee as part of the valuation of investments include credit ratings/risk, the portfolio company's current and projected earnings, current and expected leverage, ability to make interest and principal payments, the estimated remaining life of the investment, liquidity, compliance with applicable loan covenants, price to earnings (or other financial) ratios of the portfolio company and other comparable companies, current market yields and interest rate spreads of similar securities as of the measurement date. Other factors taken into account include changes in the interest rate environment and the credit markets that may affect the price at which similar investments would trade. The Valuation Designee may also base its valuation of an investment on recent investments and securities with similar structure and risk characteristics. The Sub-Adviser obtains market data from its ongoing investment purchase efforts, in addition to monitoring transactions that have closed and are announced in industry publications. External information may include (but is not limited to) observable market data derived from the U.S. loan and equity markets. As part of compiling market data as an indication of current market conditions, management may utilize third-party sources. When determining NAV as of the last day of a month that is not also the last day of a calendar quarter, the Adviser updates the value of securities with “readily available market quotations” (as defined in Rule 2a-5 under the 1940 Act) to the most recent market quotation. For securities without readily available market quotations, the Adviser generally values such assets at the most recent quarterly valuation unless the Adviser determines that a significant observable change has occurred since the most recent quarter end with respect to the investment (which determination may be as a result of a material event at a portfolio company, material change in market spreads, secondary market transaction in the securities of an investment or otherwise). If the Adviser determines such a change has occurred with respect to one or more investments, the Adviser will determine whether to update the value for each relevant investment. The value assigned to these investments is based upon available information and may fluctuate from period to period. In addition, it does not necessarily represent the amount that ultimately might be realized upon a portfolio investment's sale. Due to the inherent uncertainty of valuation, the estimated fair value of an investment may differ from the value that would have been used had a ready market for the security existed, and the difference could be material. The Board is responsible for overseeing the Valuation Designee’s process for determining the fair value of the Fund’s assets for which market quotations are not readily available, taking into account our valuation risks. To facilitate the Board’s oversight of the valuation process, the Valuation Designee will provide the Board with quarterly reports, annual reports, and prompt reporting of material matters affecting the Valuation Designee’s determination of fair value. As part of the Board’s oversight role, the Board may request and review additional information as may be necessary to be informed of the Valuation Committee’s process for determining the fair value of the Fund's investments. Investment Transactions and Revenue Recognition Investment transactions are recorded on the applicable trade date. Any amounts related to purchases, sales and principal paydowns that have traded, but not settled, are reflected as either a receivable for investments sold or payable for investments purchased on the consolidated statement of assets and liabilities. Realized gains and losses on investment transactions are determined on a specific identification basis and are included as net realized gain (loss) on investments in the consolidated statement of operations. Net change in unrealized appreciation (depreciation) on investments is recognized in the consolidated statement of operations and reflects the period-to-period change in fair value and cost of investments. Interest income, including amortization of premium and accretion of discount on loans, and expenses are recorded on the accrual basis. The Fund accrues interest income if it expects that ultimately it will be able to collect such income. The Fund may have loans in its portfolio that contain payment-in-kind (“PIK”) income provisions. PIK represents interest that is accrued and recorded as interest income at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. If at any point the Fund believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest is generally reversed through PIK income. This non-cash source of income is included when determining what must be paid out to shareholders in the form of distributions in order for the Fund to maintain its tax treatment as a RIC, even though the Fund has not yet collected cash. As of March 31, 2023 and December 31, 2022, the fair value of the loans in the portfolio with PIK income provisions was $73,212 and $70,361, respectively, which represents approximately 19.36% and 20.13% of total investments at fair value, respectively. For the three months ended March 31, 2023 and for the period from February 8, 2022 (inception) through March 31, 2022, the Fund earned PIK income of $567 and $0, respectively. As of March 31, 2023, there were no PIK loans in the Fund's portfolio on non-accrual status. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio companies and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. For the three months ended March 31, 2023 and for the period from February 8, 2022 (inception) to March 31, 2022, the Fund earned $73 and $0, respectively, in dividend income. Other income may include income such as consent, waiver, amendment, unused, and prepayment fees associated with the Fund’s investment activities, as well as any fees for managerial assistance services rendered by the Fund to its portfolio companies. Such fees are recognized as income when earned or the services are rendered. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, the Fund earned other income of $18 and $0, respectively, primarily related to prepayment fees. Loans are generally placed on non-accrual status when a payment default occurs on a loan in the portfolio, or if management otherwise believes that the issuer of the loan will not be able to make contractual interest payments or principal payments. The Fund will cease recognizing interest income on that loan until all principal and interest is current through payment, or until a restructuring occurs such that the interest income is deemed to be collectible. However, the Fund remains contractually entitled to this interest. The Fund may make exceptions to this policy if the loan has sufficient collateral value and is in the process of collection. Accrued interest is written-off when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. As of March 31, 2023 and December 31, 2022, there were no loans in the Fund's portfolio on non-accrual status. Deferred Financing Costs Deferred financing costs include capitalized expenses related to the closing or amendments of borrowings. Amortization of deferred financing costs is computed on the straight-line basis over the term of the borrowings. The amortization of such costs is included in interest and debt financing expenses in the accompanying consolidated statement of operations. The unamortized balance of such costs is included as a direct deduction from the related liability in the accompanying consolidated statement of assets and liabilities. Organization and Offering Costs Organization costs consist of primarily legal, incorporation and accounting fees incurred in connection with the organization of the Fund. Organization costs are expensed as incurred and are shown in the Fund's consolidated statement of operations. Refer to Note 4 for further details on the Expense Support Agreement. Offering costs consist primarily of fees and expenses incurred in connection with the offering of Common Shares, as well as legal, printing and other costs associated with the preparation and filing of the registration statements and offering materials. Offering costs are recognized as a deferred charge, amortized on a straight-line basis over 12 months and are shown in the Fund's consolidated statement of operations. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, offering costs of $198 and $58, respectively, were incurred, and $131 and $4, respectively, were amortized and recognized as offering costs on the consolidated statement of operations, and covered under the Expense Support Agreement. Refer to Note 4 for further details on the Expense Support Agreement. Income Taxes The Fund intends to elect to be treated for U.S. federal income tax purposes as a RIC under Subchapter M of the Code for the fiscal year ending December 31, 2022. As a result, the Fund must distribute substantially all of its net taxable income each tax year as dividends to its shareholders. Accordingly, no provision for U.S. federal income tax has been made in the consolidated financial statements. The minimum distribution requirements applicable to RICs require the Fund to distribute to its shareholders at least 90% of its investment company taxable income (“ICTI”), as defined by the Code, each year. Depending on the level of ICTI earned in a tax year, the Fund may choose to carry forward ICTI in excess of current year distributions into the next tax year. Any such carryover ICTI must be distributed before the end of that next tax year through a dividend declared prior to filing the final tax return related to the year which generated such ICTI. In addition, based on the excise distribution requirements, the Fund is subject to a 4% nondeductible U.S. federal excise tax on undistributed income unless the Fund distributes in a timely manner an amount at least equal to the sum of (1) 98% of its ordinary income for each calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ended October 31 in that calendar year and (3) any income realized, but not distributed, in the preceding year. For this purpose, however, any ordinary income or capital gain net income retained by the Fund that is subject to U.S. federal income tax is considered to have been distributed. The Fund intends to timely distribute to our shareholders substantially all of our annual taxable income for each year, except that the Fund may retain certain net capital gains for reinvestment and, depending upon the level of taxable income earned in a year, we may choose to carry forward taxable income for distribution in the following year and pay any applicable U.S. federal excise tax. The Fund evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely than not” to be sustained by the applicable tax authority. SPV I is a disregarded entity for tax purposes and will be consolidated with the tax return of the Fund. Equity Holdings has elected to be classified as a corporation for U.S. federal income tax purposes. All penalties and interest associated with income taxes, if any, are included in income tax expense. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, the Fund did not incur any excise tax expense. Dividends and Distributions to Common Shareholders To the extent that the Fund has taxable income available, the Fund intends to pay regular monthly distributions to its shareholders commencing in the first full calendar quarter after the escrow period concludes. Distributions to shareholders are recorded on the record date. All distributions will be paid at the discretion of the Board of Trustees and will depend on the Fund’s earnings, financial condition, maintenance of its tax treatment as a RIC, compliance with applicable BDC regulations and such other factors as the Board of Trustees may deem relevant from time to time. Although the gross distribution per share is generally equivalent for each share class, the net distribution for each share class is reduced for any class specific expenses, including distribution and shareholder servicing fees, if any. Functional Currency The functional currency of the Fund is the U.S. Dollar and all transactions were in U.S. Dollars. Recent Accounting Standards Updates The FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reportin g in March 2020. This update provides temporary optional expedients and exceptions for applying US GAAP to contract modifications, hedge accounting, and other transactions subject to meeting certain criteria. The amendments apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discounted because of reference rate reform, and was effective upon issuance through December 31, 2022. The Fund has agreements that have LIBOR as a reference rate with certain portfolio companies. Many of these agreements include an alternative successor rate or language for choosing an alternative successor rate if LIBOR reference is no longer considered to be appropriate. With respect to other agreements, the Fund intends to work with its portfolio companies to modify agreements to choose an alternative successor rate. Contract modifications may be required to be evaluated in determining whether the modifications result in the establishment of new contracts or the continuation of existing contracts. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”), which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. The Fund continues to evaluate the impact that the amendments in this update will have on the Fund's consolidated financial statements and disclosures when applied.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair Value Disclosures The following table presents fair value measurements of investments, by major class as of March 31, 2023 and December 31, 2022, according to the fair value hierarchy: As of March 31, 2023 Level 1 Level 2 Level 3 Total Assets: First Lien Term Loans $ — $ 1,769 $ 271,508 $ 273,277 Subordinated Debt (1) — — 99,294 99,294 Equity Investments — — 5,613 5,613 Cash Equivalents 16,012 — — 16,012 Total $ 16,012 $ 1,769 $ 376,415 $ 394,196 (1) Subordinated Debt is further comprised of Second Lien Term Loans and/or Second Lien Notes of $24,318 and Mezzanine Debt of $74,976. As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets: First Lien Term Loans $ — $ 1,704 $ 249,667 $ 251,371 Subordinated Debt (1) — — 93,809 93,809 Equity Investments — — 4,338 4,338 Total $ — $ 1,704 $ 347,814 $ 349,518 _______________ (1) Subordinated Debt is further comprised of Second Lien Term Loans and/or Second Lien Notes of $30,906 and Mezzanine Debt of $62,903. The following tables provide a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022: First Lien Term Loans Subordinated Debt Equity Investments Total Balance as of January 1, 2023 $ 249,668 $ 93,808 $ 4,338 $ 347,814 Purchase of investments 24,019 5,044 1,118 30,181 Proceeds from principal repayments and sales of investments (1,331) — — (1,331) Payment-in-kind interest — 563 — 563 Amortization of premium/accretion of discount, net 192 84 — 276 Net realized gain (loss) on investments 7 — — 7 Net change in unrealized appreciation (depreciation) on investments (1,046) (206) 157 (1,095) Balance as of March 31, 2023 $ 271,509 $ 99,293 $ 5,613 $ 376,415 Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held as of March 31, 2023 $ (1,046) $ (206) $ 157 $ (1,095) Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. For the three months ended March 31, 2023, there were no transfers into or out of Level 3. First Lien Term Loans Subordinated Debt Equity Investments Total Balance as of February 8, 2022 (inception) $ — $ — $ — $ — Purchase of investments 180,987 113,970 1,274 296,231 Balance as of March 31, 2022 $ 180,987 $ 113,970 $ 1,274 $ 296,231 Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held as of March 31, 2022 $ — $ — $ — $ — Significant Unobservable Inputs ASC Topic 820 requires disclosure of quantitative information about the significant unobservable inputs used in the valuation of assets and liabilities classified as Level 3 within the fair value hierarchy. The valuation techniques and significant unobservable inputs used in Level 3 fair value measurements of assets as of March 31, 2023 and December 31, 2022 were as follows: Investment Type Fair Value at March 31, 2023 Valuation Techniques Unobservable Inputs Ranges Weighted Average First Lien Term Loans $ 249,718 Yield Method Discount Rate 8.63 % 13.49 % 10.48 % First Lien Term Loans 21,790 Recent Transaction Transaction Price 97.05 98.07 97.92 Subordinated Debt 84,045 Yield Method Discount Rate 8.88 % 22.69 % 14.22 % Subordinated Debt 15,249 Recent Transaction Transaction Price 97.03 100.00 99.02 Equity Investments 4,268 Market Approach EBITDA Multiple 8.00x 19.50x 10.77x Total $ 375,070 Equity investments in the amount of $1,345 at March 31, 2023 have been excluded from the table above as the investments are valued using recent transaction price. Investment Type Fair Value at December 31, 2022 Valuation Techniques Unobservable Inputs Ranges Weighted Average First Lien Term Loans $ 228,304 Yield Method Implied Discount Rate 8.98 % 13.37 % 10.63 % First Lien Term Loans 21,363 Recent Transaction Transaction Price 98.01 98.08 98.05 Subordinated Debt 88,391 Yield Method Implied Discount Rate 8.88 % 17.94 % 13.39 % Subordinated Debt 5,418 Recent Transaction Transaction Price 97.58 98.08 97.82 Equity Investments 3,144 Enterprise Value EBITDA Multiple 9.25x 13.50x 10.93x Total $ 346,620 Equity investments in the amount of $1,194 at December 31, 2022 have been excluded from the table above as the investments are valued using recent transaction price. Debt investments generally are valued using an incom e analysis, which weighs market yield and credit performance discount rates. The market yield analysis compares market yield movements from the date of the closing of the investment to the reporting date. The credit performance analysis determines a yield per unit of leverage at closing and compares that to a current yield per unit of leverage (factoring any change in pricing and change in leverage as a result of the borrower’s actual performance) as of the reporting date. Material underperformance will typically require an increase in the weighting towards the credit performance analysis. The yield method calculates a discount rate at closing and compares that to a current discount rate as of the reporting date. Discount rates are determined using a combination of market yield data and borrower performance. A recent market trade, if applicable, also will be factored into the valuation. Equity investments generally are valued using a market analysis, which utilizes market value multiples (EBITDA or Revenue) of publicly traded comparable companies and available precedent sales transactions of comparable companies. The selected multiple is used to estimate the enterprise value of the underlying investment. Alternative valuation methodologies may be used as appropriate for debt or equity investments, and can include a market analysis, income analysis, or liquidation (recovery) analysis. A recent transaction, if applicable, may also be factored into the valuation if the transaction price is believed to be an indicator of value. Weighted average inputs are calculated based on the relative fair value of the investments. Significant increases (decreases) in discount rates could result in lower (higher) fair value measurements. Significant decreases (increases) in comparable multiples may result in lower (higher) fair value measurements.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Advisory Agreement On March 31, 2022, the Fund entered into the Advisory Agreement. The Board of Trustees, including all of the trustees who are not “interested persons” (as defined under Section 2(a)(19) of the 1940 Act) of the Fund (the “Independent Trustees”), has approved the Advisory Agreement in accordance with, and on the basis of an evaluation satisfactory to such trustees as required by the 1940 Act. On August 3, 2022, the Board of Trustees, including all of the Independent Trustees, approved Amendment No. 1 to the Advisory Agreement (the “Advisory Agreement Amendment”). The Advisory Agreement Amendment was entered into solely to extend the notice requirement for the Adviser to terminate the Advisory Agreement from 60 days to 120 days (as described below). On January 10, 2023, the Board of Trustees, including all of the Independent Trustees, approved Amendment No. 2 (the “Second Advisory Agreement Amendment”) to the Investment Advisory Agreement, which became effective immediately. The Fund and the Adviser entered into the Second Advisory Agreement Amendment as a result of comments issued by securities regulators from various states in connection with their “blue sky” review of the Fund’s offering. The Second Advisory Agreement Amendment, among other things: (1) removed sunset provisions contingent upon recognition of the Common Shares as “covered securities”; (2) removed provisions entitling the Adviser to amounts owed under Sections 3 or Section 7 of the Advisory Agreement following a notice of termination of the Advisory Agreement; (3) specifies the conditions under which the Adviser may sell all or substantially all of the Fund’s assets; and (4) revised provisions to reflect conflicts of interest provisions set forth in the NASAA Omnibus Guidelines Statement of Policy adopted on March 29, 1992 and as amended on May 7, 2007 and from time to time (the “Omnibus Guidelines”). Unless terminated earlier as described below, the Advisory Agreement will remain in effect for a period of two years from March 31, 2022 and will remain in effect from year-to-year thereafter if approved annually by the Board of Trustees or by the affirmative vote of the holders of a majority of our outstanding voting securities and, in each case, a majority of the Independent Trustees. The Advisory Agreement will automatically terminate in the event of its assignment, as defined in the 1940 Act, by the Adviser and may be terminated by the Adviser without penalty upon not less than 120 days’ written notice to the Fund or by the Fund without penalty upon not less than 60 days’ written notice to the Adviser. The holders of a majority of the outstanding voting securities may also terminate either of the Advisory Agreement without penalty. Base Management Fee The management fee is payable monthly in arrears at an annual rate of 0.75% of the value of the Fund’s net assets as of the beginning of the first calendar day of the applicable month. For the first calendar month in which the Fund has operations, net assets will be measured using the beginning net assets as of the date on which the Fund breaks escrow. In addition, the Adviser has agreed to waive its management fee until the expiry of twelve months from the date on which the Fund breaks escrow. Incentive Fee The incentive fee consists of two components that are independent of each other, with the result that one component may be payable even if the other is not: (i) incentive fee on income and (ii) an incentive fee on capital gains. Each part of the incentive fee is outlined below. Incentive Fee Based on Income The portion based on income is based on Pre-Incentive Fee Net Investment Income Returns. “Pre-Incentive Fee Net Investment Income Returns” means, as the context requires, either the dollar value of, or percentage rate of return on the value of net assets at the end of the immediate preceding quarter from, interest income, dividend income and any other income (including any other fees (other than fees for providing managerial assistance), such as commitment, origination, structuring, diligence and consulting fees or other fees that the Fund receives from portfolio companies) accrued during the calendar quarter, minus our operating expenses accrued for the quarter (including the management fee, expenses payable under the Administration Agreement, and any interest expense or fees on any credit facilities or outstanding debt and dividends paid on any issued and outstanding preferred shares, but excluding the incentive fee and any shareholder servicing and/or distribution fees). Pre-Incentive Fee Net Investment Income Returns include, in the case of investments with a deferred interest feature (such as OID, debt instruments with PIK interest and zero coupon securities), accrued income that has not yet been received in cash. Pre-Incentive Fee Net Investment Income Returns do not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. The impact of expense support payments and recoupments (as discussed further below) are also excluded from Pre-Incentive Fee Net Investment Income Returns. Pre-Incentive Fee Net Investment Income Returns, expressed as a rate of return on the value of the Fund’s net assets at the end of the immediate preceding quarter, is compared to a “hurdle rate” of return of 1.50% per quarter (6% annualized). The Fund will pay the Adviser an incentive fee quarterly in arrears with respect to Pre-Incentive Fee Net Investment Income Returns in each calendar quarter as follows: • No incentive fee based on Pre-Incentive Fee Net Investment Income Returns in any calendar quarter in which our Pre-Incentive Fee Net Investment Income Returns do not exceed the hurdle rate of 1.50% per quarter (6% annualized); • 100% of the dollar amount of our Pre-Incentive Fee Net Investment Income Returns with respect to that portion of such Pre-Incentive Fee Net Investment Income Returns, if any, that exceeds the hurdle rate but is less than a rate of return of 1.76% (7.06% annualized). The Fund refers to this portion of Pre-Incentive Fee Net Investment Income Returns (which exceeds the hurdle rate but is less than 1.76%) as the “catch-up.” The “catch-up” is meant to provide the Adviser with approximately 15% of our Pre-Incentive Fee Net Investment Income Returns as if a hurdle rate did not apply if this net investment income exceeds 1.76% in any calendar quarter; and • 15% of the dollar amount of our Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.76% (7.06% annualized). This reflects that once the hurdle rate is reached and the catch-up is achieved, 15% of all Pre-Incentive Fee Net Investment Income Returns thereafter are allocated to the Adviser. These calculations will be pro-rated for any period of less than three months and adjusted for any share issuances or repurchases during the relevant quarter. The Adviser has agreed to waive the incentive fee based on income until the expiry of twelve months from the date on which the Fund breaks escrow. Incentive Fee Based on Capital Gains The second component of the incentive fee, the capital gains incentive fee, will be payable at the end of each calendar year in arrears. The amount payable will equal: • 15% of cumulative realized capital gains from inception through the end of such calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid incentive fee on capital gains as calculated in accordance with U.S. GAAP. Each year, the fee paid for the capital gains incentive fee will be net of the aggregate amount of any previously paid capital gains incentive fee for all prior periods. The Fund will accrue, but will not pay, a capital gains incentive fee with respect to unrealized appreciation because a capital gains incentive fee would be owed to the Adviser if the Fund was to sell the relevant investment and realize a capital gain. In no event will the capital gains incentive fee payable pursuant to the Advisory Agreement be in excess of the amount permitted by the Advisers Act, including Section 205 thereof. The fees that are payable under the Advisory Agreement for any partial period will be appropriately prorated. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, the Fund did not incur any incentive fee based on capital gains. Sub-Advisory Agreement On March 31, 2022, the Adviser entered into the Investment Sub-Advisory Agreement with the Sub-Adviser (the “Sub-Advisory Agreement”). The Board of Trustees, including all of the Independent Trustees, also approved the Sub-Advisory Agreement in accordance with, and on the basis of an evaluation satisfactory to such trustees as required by the 1940 Act. The Sub-Adviser manages certain of the Liquid Investments pursuant to the Sub-Advisory Agreement. The Adviser has general oversight over the investment process on behalf of the Fund and manages the capital structure of the Fund, including, but not limited to, asset and liability management. The Adviser also has ultimate responsibility for the Fund’s performance under the terms of the Investment Advisory Agreement. The Adviser will pay the Sub-Adviser monthly in arrears, 0.375% of the daily weighted average principal amount of the Liquid Investments managed by the Sub-Adviser pursuant to the Sub-Advisory Agreement. On August 3, 2022, the Board, including all of the Independent Trustees, approved Amendment No. 1 to the Sub-Advisory Agreement (the “Sub-Advisory Agreement Amendment”). The Sub-Advisory Agreement Amendment was entered into solely to extend the notice requirement applicable to both the Adviser and the Sub-Adviser to terminate the Sub-Advisory Agreement from 60 days to 120 days (as described below). Unless terminated earlier as described below, the Advisory Agreement will remain in effect for a period of two years from March 31, 2022 and will remain in effect from year-to-year thereafter if approved annually by the Board of Trustees or by the affirmative vote of the holders of a majority of our outstanding voting securities and, in each case, a majority of the Independent Trustees. The Advisory Agreement will automatically terminate in the event of its assignment, as defined in the 1940 Act, by the Adviser and may be terminated by either the Fund or the Adviser without penalty upon not less than 120 days’ written notice to the other. The holders of a majority of our outstanding voting securities may also terminate either of the Advisory Agreement without penalty. Administration Agreement On March 31, 2022, the Fund entered into an administration agreement with the Administrator (the “Administration Agreement”), which was approved by the Board of Trustees. Pursuant to the Administration Agreement, the Administrator furnishes the Fund with office facilities and equipment and provides clerical, bookkeeping and record keeping and other administrative services at such facilities. The Administrator performs, or oversees the performance of, the required administrative services, which include, among other things, assisting the Fund with the preparation of the financial records that the Fund is required to maintain and with the preparation of reports to shareholders and reports filed with the SEC. At the request of the Adviser or the Sub-Adviser, the Administrator also may provide significant managerial assistance on the Fund’s behalf to those portfolio companies that have accepted the Fund’s offer to provide such assistance. U.S. Bancorp Fund Services, LLC will provide the Fund with certain fund administration and bookkeeping services pursuant to a sub-administration agreement (the “Sub-Administration Agreement”) with the Administrator. On January 10, 2023, the Board, including all of the Independent Trustees, approved Amendment No. 1 (the “Administration Agreement Amendment”) to the Administration Agreement, which became effective immediately. The Fund and the Administrator entered into the Administration Agreement Amendment as a result of comments issued by securities regulators from various states in connection with their “blue sky” review of the Fund’s offering. The Administration Agreement Amendment provides that the Indemnified Parties (as defined in the Administration Agreement) will not be entitled to indemnification for any loss or liability to the Fund or its shareholders by reason of the Indemnified Parties’ negligence or misconduct, in accordance with the Omnibus Guidelines. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, the Fund incurred $118 and $10, respectively, in fees under the Sub-Administrative Agreement, which were included in administration fees expense in the consolidated statement of operations. As of March 31, 2023 and December 31, 2022, $328 and $246, respectively, was unpaid and included in accounts payable and accrued expenses in the consolidated statement of assets and liabilities. Intermediary Manager Agreement On March 31, 2022, the Fund entered into an Intermediary Manager Agreement (the “Intermediary Manager Agreement”) with the Intermediary Manager, an affiliate of the Adviser. Under the terms of the Intermediary Manager Agreement, the Intermediary Manager serves as the agent and principal distributor for the Fund’s public offering of its Common Shares. The Intermediary Manager is entitled to receive distribution and/or shareholder servicing fees monthly at an annual rate of 0.85% of the value of the Fund’s net assets attributable to Class S shares as of the beginning of the first calendar day of the month. The Intermediary Manager is entitled to receive distribution and/or shareholder servicing fees monthly at an annual rate of 0.25% of the value of the Fund’s net assets attributable to Class D shares as of the beginning of the first calendar day of the month. No distribution and/or shareholder servicing fees will be paid with respect to Class I shares. The Fund will cease paying the distribution and/or shareholder servicing fees on any Class S share and Class D share in a shareholder’s account at the end of the month in which the Intermediary Manager in conjunction with the transfer agent determines that total brokerage commissions and distribution and/or shareholder servicing fees paid with respect to any such share held by such shareholder within such account would exceed, in the aggregate, 10% of the gross proceeds from the sale of such share. At the end of such month, each such Class S share or Class D share will convert into a number of Class I shares (including any fractional shares), with an equivalent aggregate NAV as such share. The total underwriting compensation and total organization and offering expenses will not exceed 10% and 15%, respectively, of the gross proceeds from the offering. The Intermediary Manager Agreement may be terminated at any time, without the payment of any penalty, by vote of a majority of the Independent Trustees and the trustees who have no direct or indirect financial interest in the operation of the Fund’s distribution plan or the Intermediary Manager Agreement or by vote a majority of the outstanding voting securities of the Fund, on not more than 60 days’ written notice to the Intermediary Manager or the Adviser. The Intermediary Manager Agreement will automatically terminate in the event of its assignment, as defined in the 1940 Act. Expense Support and Conditional Reimbursement Agreement On March 31, 2022, the Fund entered into an expense support and conditional reimbursement agreement (the “Expense Support Agreement”) with the Adviser. The Expense Support Agreement provides that, Nuveen Alternative Holdings, an affiliate of the Adviser may pay (or cause one or more of its affiliates to pay) certain expenses of the Fund, provided that no portion of the payment will be used to pay any interest expenses of the Fund and/or shareholder servicing fees of the Fund (each, an “Expense Payment’). Such expense payment will be made in any combination of cash or other immediately available funds no later than forty-five days after a written commitment from Nuveen Alternative Holdings to pay such expense, and/or by an offset against amounts due from the Fund to Nuveen Alternative Holdings. Following any calendar quarter in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the Fund’s shareholders based on distributions declared with respect to record dates occurring in such calendar quarter (such amount referred to as the “Excess Operating Funds”), the Fund will pay such Excess Operating Funds, or a portion thereof (each, a “Reimbursement Payment”), to Nuveen Alternative Holdings until such time as all Expense Payments made by the entity to the Fund within three years prior to the last business day of such calendar quarter have been reimbursed. Available Operating Funds means the sum of (i) the Fund’s net investment income (including net realized short-term capital gains reduced by net realized long-term capital losses), (ii) the Fund’s net capital gains (including the excess of net realized long-term capital gains over net realized short-term capital losses) and (iii) dividends and other distributions paid to the Fund on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above). The amount of the Reimbursement Payment for any calendar quarter will equal the lesser of (i) the Excess Operating Funds in such quarter and (ii) the aggregate amount of all Expense Payments made by Nuveen Alternative Holdings to the Fund within three years prior to the last business day of such calendar quarter that have not been previously reimbursed by the Fund to Nuveen Alternative Holdings. No Reimbursement Payment for any month will be made if (1) the annualized rate of regular cash distributions declared by the Fund at the time of such Reimbursement Payment is less than the annualized rate of regular cash distributions declared by the Fund at the time the Expense Payment was made to which such Reimbursement Payment relates, or (2) the Fund’s Operating Expense Ratio (as defined below) at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Reimbursement Payment relates. The Operating Expense Ratio is calculated by dividing the Fund’s operating costs and expenses incurred, less organizational and offering expenses, base management and incentive fees owed to the Adviser, and interest expense, by the Fund’s net assets. The Fund’s obligation to make a Reimbursement Payment will automatically become a liability of the Fund on the last business day of the applicable calendar month, except to the extent the Adviser has waived its right to receive such payment for the applicable month. The following table presents a cumulative summary of the expense payments and reimbursement payments since the Fund’s commencement of operations, comprised primarily of organizational expenses, offering costs and professional fees: For the Quarter Ended Expense Payments by Adviser Reimbursement Payments to Adviser Unreimbursed Expense Payments Reimbursement Eligibility Expiration March 31, 2022 $ 983 $ — $ 983 March 31, 2025 June 30, 2022 677 — 677 June 30, 2025 September 30, 2022 379 — 379 September 30, 2025 December 31, 2022 176 — 176 December 31, 2025 March 31, 2023 198 — 198 March 31, 2026 Total $ 2,413 $ — $ 2,413 Board of Trustees’ Fees The Board consists of seven members, four of whom are Independent Trustees. On March 30, 2022, the Board established an Audit Committee, a Nominating and Corporate Governance Committee and a Special Transactions Committee, each consisting solely of the Independent Trustees, and may establish additional committees in the future. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, the Fund incurred $125 and $3, respectively, in fees which are included in Board of Trustees’ fees in the consolidated statement of operations. As of March 31, 2023 and December 31, 2022, $125 and $128, respectively, were unpaid and is included in Board of Trustees’ fees payable in the accompanying consolidated statement of assets and liabilities. Other Related Party Transactions From time to time, the Adviser may pay amounts owed by the Fund to third-party providers of goods or services and the Fund will subsequently reimburse the Adviser for such amounts paid on its behalf. Amounts payable to the Adviser are settled in the normal course of business without formal payment terms. As of March 31, 2023 and December 31, 2022, the Fund owed the Adviser $371 and $231, respectively, for reimbursements including the Fund’s allocable portion of overhead, which is included in accounts payable and accrued expenses in the accompanying consolidated statement of assets and liabilities. Promissory Note On March 31, 2022, the Fund entered into the Note with TIAA as the lender. The Note is issued under the purchase and sales agreement, dated as of March 31, 2022, by and among the Fund, SPV I and TIAA in connection with the contribution of portfolio investments by TIAA to the Fund (as discussed further in Note 7 ). The principal amount of the Note equals (i) the fair value of portfolio investments contributed as of March 31, 2022, minus (ii) $263,500. The Note was due to mature on March 30, 2023, with an interest rate of 4% per annum on the unpaid principal amount, compounded quarterly. On June 3, 2022, the Fund fully repaid the balance on the Note which was comprised of $32,731 and $226 of principal and interest, respectively.

SECURED BORROWINGS

SECURED BORROWINGS	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
SECURED BORROWINGS	SECURED BORROWINGS In accordance with the 1940 Act, the Fund is only permitted to borrow amounts such that its asset coverage, as defined in the 1940 Act, is maintained at a level of at least 150% after such borrowing. As of March 31, 2023 and December 31, 2022, the Fund’s asset coverage was 291.77% and 267.94%, respectively. On April 19, 2022, SPV I entered into a credit agreement with the lenders from time to time parties thereto, Bank of America, N.A., as administrative agent, the Fund, as servicer, U.S. Bank Trust Company, National Association, as collateral administrator, and U.S. Bank National Association, as collateral custodian (the “Credit Agreement” and the revolving credit facility thereunder, the “Bank of America Credit Facility”). On October 4, 2022, SPV I entered into Amendment No. 1 to the Credit Agreement (the “Amendment”). The Amendment, among other things: (i) increased the maximum amount available under the Bank of America Credit Facility from $200 million to $250 million; and (ii) increased the rate to be paid from Daily SOFR +2.00% to Daily SOFR +2.15% with a “step up” on the one year anniversary of the Closing Date (as defined in the Amendment) increasing from Daily SOFR +2.15% to Daily SOFR +2.40%, as reflected in the Amendment. Borrowings under the Credit Agreement are secured by all of the assets held by SPV I and bear interest based on either (x) an annual rate equal to SOFR determined for any day (“Daily SOFR”) for the relevant interest period, plus an applicable spread, or (y) the highest of (i) the Federal Funds Rate plus an applicable spread, (ii) the Prime Rate in effect for any day and (iii) Daily SOFR plus an applicable spread. Interest is payable monthly in arrears. Advances under the Credit Agreement are secured by a pool of broadly-syndicated and middle-market loans subject to eligibility criteria and advance rates specified in the Credit Agreement. Advances under the Credit Agreement may be prepaid and reborrowed at any time during the Availability Period (as defined therein), and SPV I may terminate or reduce the facility amount subject to certain conditions. As of March 31, 2023, the Bank of America Credit Facility bears interest at a rate of Daily SOFR plus 2.15% per annum. Interest is payable monthly in arrears. Any amounts borrowed under the Credit Agreement will mature, and all accrued and unpaid interest thereunder will be due and payable, on the earlier of (i) the fifth anniversary of the effective date of April 19, 2022, or April 19, 2027 or (ii) upon certain other events in connection with a refinancing under the Credit Agreement. Borrowing under the Credit Agreement is subject to certain restrictions contained in the 1940 Act. Prior to entering into the Bank of America Credit Facility, the Fund contributed and/or sold certain assets to SPV I pursuant to a contribution and sale agreement and TIAA contributed and/or sold certain assets to SPV I pursuant to a master participation and assignment agreement, and the Fund expects to contribute and/or sell additional assets to SPV I pursuant to a contribution and sale agreement in the future. The Fund may, but will not be required to, repurchase and/or substitute certain assets previously transferred to SPV I subject to the conditions specified in the contribution and sale agreement and the Bank of America Credit Facility Agreement. The fair value of the Bank of America Credit Facility, which would be categorized as Level 3 within the fair value hierarchy as of March 31, 2023, approximates its carrying value. The carrying amounts of the Fund’s assets and liabilities, including the credit facilities, other than investments at fair value, approximate fair value due to their short maturities. The borrowing consisted of the following as of March 31, 2023 and December 31, 2022: March 31, 2023 Bank of America Credit Facility Total Total Commitment $ 250,000 $ 250,000 Borrowings Outstanding (1) 135,500 135,500 Unused Portion (2) 114,500 114,500 Amount Available (3) 97,240 97,240 _______________ (1) Borrowings outstanding on the consolidated statement of assets and liabilities are net of deferred financing costs. (2) The unused portion is the amount upon which commitment fees are based. (3) Available for borrowing based on the computation of collateral to support the borrowings and subject to compliance with applicable covenants and financial ratios. December 31, 2022 Bank of America Credit Facility Total Total Commitment $ 250,000 $ 250,000 Borrowings Outstanding (1) 155,000 155,000 Unused Portion (2) 95,000 95,000 Amount Available (3) 81,855 81,855 ______________ (1) Borrowings outstanding on the consolidated statement of assets and liabilities are net of deferred financing costs. (2) The unused portion is the amount upon which commitment fees are based. (3) Available for borrowing based on the computation of collateral to support the borrowings and subject to compliance with applicable covenants and financial ratios. For the three months ended March 31, 2023, the components of interest expense and debt financing expenses were as follows: Three Months Ended March 31, 2023 Borrowing interest expense $ 2,328 Unused fees 109 Amortization of deferred financing costs (1) 39 Total interest and debt financing expenses $ 2,476 Average interest rate (2) 6.99 % Average daily borrowings $ 141,494 _______________ (1) For the three months ended March 31, 2023, $24 of deferred financing costs were designated for reimbursement pursuant to the Expense Support Agreement. (2) Average interest rate includes interest expense and unused fees.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESIn the ordinary course of its business, the Fund enters into contracts or agreements that contain indemnifications or warranties. Future events could occur that might lead to the enforcement of these provisions against the Fund. The Fund believes that the likelihood of such an event is remote; however, the maximum potential exposure is unknown. No accrual has been made in the consolidated financial statements as of March 31, 2023 for any such exposure. As of March 31, 2023 and December 31, 2022, the Fund had the following unfunded commitments to fund delayed draw loans and an equity investment: Portfolio Company March 31, 2023 December 31, 2022 ADPD Holdings, LLC $ 1,999 $ 2,149 Evergreen Services Group, LLC $ — $ 267 Health Management Associates $ 611 $ — Heartland Veterinary Partners, LLC $ 5,000 $ 5,000 Impact Parent Corporation $ 972 $ — Infobase Acquisition, Inc. $ 122 $ 122 INS Intermediate $ 1,139 $ — ISG Merger Sub, LLC $ 1,282 $ 1,282 ITSavvy, LLC $ 36 $ 480 Kenco Group, Inc. $ 850 $ 850 KL Bronco Acquisition, Inc. $ 599 $ 599 Legacy Service Partners $ 1,305 $ — Ovation Holdings, Inc. $ 705 $ — Patriot Growth Insurance Service $ 4,574 $ 5,568 Randys Holdings, Inc $ 1,332 $ 1,332 SCP Eye Care Holdco, LLC $ 735 $ 735 Transit Buyer LLC $ 1,157 $ — Trilon Group, LLC $ — $ 363 Victors CCC Buyer LLC $ 560 $ 560 Wellspring Pharmaceutical $ 1,895 $ 1,895 Total unfunded commitments $ 24,873 $ 21,202 The Fund believes its assets will provide adequate coverage to satisfy these unfunded commitments. As of March 31, 2023, the Fund had cash and cash equivalents of $16,297 and unused borrowings under the Bank of America Credit Facility of $114,500.

NET ASSETS

NET ASSETS	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
NET ASSETS	NET ASSETS In connection with its formation, the Fund has the authority to issue an unlimited number of Common Shares. On March 30, 2022, an affiliate of the Adviser, TIAA, purchased 40 shares of the Fund’s Class I shares of beneficial interest at $25.00 per share. On March 31, 2022, TIAA contributed certain portfolio investments to the Fund in the amount of $296,231 (fair value as of March 31, 2022). In connection therewith, the Fund entered into the Note with TIAA as the lender (as described in Note 4 ), and issued to TIAA 10,540,000 shares of the Fund’s Class I shares of beneficial interest at $25.00 per share. The Fund fully repaid the balance of the Note to TIAA on June 3, 2022. Distributions The following table summarizes the Fund’s dividends declared for the period from February 8, 2022 (inception) through March 31, 2023. Class I Declaration Date Record Date Payment Date Dividend per Share Distribution Amount September 30, 2022 September 30, 2022 October 28, 2022 $ 0.870 (1) $ 9,170 October 31, 2022 October 31, 2022 November 28, 2022 $ 0.180 $ 1,897 November 30, 2022 November 30, 2022 December 28, 2022 $ 0.190 $ 2,003 December 31, 2022 December 31, 2022 January 28, 2023 $ 0.295 (2) $ 3,109 January 31, 2023 January 31, 2023 February 28, 2023 $ 0.200 $ 2,108 February 28, 2023 February 28, 2023 March 28, 2023 $ 0.200 $ 2,108 March 31, 2023 March 31, 2023 April 28, 2023 $ 0.230 $ 2,424 _______________ (1) Represents monthly dividend of $0.14 per share for each of April 2022, May 2022 and June 2022, and monthly dividend of $0.15 per share for each of July 2022, August 2022 and September 2022. (2) Comprised of $0.19 regular dividend and $0.105 special dividend. Distribution Reinvestment Plan The Fund has adopted a distribution reinvestment plan, pursuant to which it will reinvest all cash dividends declared by the Board of Trustees on behalf of its shareholders who do not elect to receive their dividends in cash, except for shareholders in certain states. As a result, if the Board of Trustees authorizes, and we declare, a cash dividend or other distribution, then our shareholders who have not opted out of our distribution reinvestment plan will have their cash distributions automatically reinvested in additional Common Shares, rather than receiving the cash dividend or other distribution. Alabama, Arkansas, Idaho, Kansas, Kentucky, Maine, Maryland, Massachusetts, Nebraska, New Jersey, North Carolina, Ohio, Oregon, Vermont and Washington investors and clients of certain participating brokers that do not permit automatic enrollment in our distribution reinvestment plan will automatically receive their distributions in cash unless they elect to have their cash distributions reinvested in additional Common Shares. Distributions on fractional shares will be credited to each participating shareholder’s account to three decimal places. As of March 31, 2023, no Common Shares were issued pursuant to the distribution reinvestment plan. Share Repurchase Program Beginning no later than the first full calendar quarter from the date on which the Fund breaks escrow, and at the discretion of the Board of Trustees, the Fund intends to commence a share repurchase program in which it intends to repurchase, in each quarter, up to 5% of its Common Shares outstanding (either by number of shares or aggregate NAV) as of the close of the previous calendar quarter. The Board of Trustees, in its sole discretion, may amend, suspend or terminate the share repurchase program if it deems such action to be in the best interest of the Fund’s shareholders. As a result, share repurchases may not be available each quarter, such as when a repurchase offer would place an undue burden on our liquidity, adversely affect the Fund’s operations or risk having an adverse impact on the Fund that would outweigh the benefit of the repurchase offer. Following any such suspension, the Board of Trustees will consider on at least a quarterly basis whether the continued suspension of the Share Repurchase Program is in the best interest of the Fund and shareholders, and will reinstate the Share Repurchase Program when and if appropriate and subject to its fiduciary duty to the Fund and shareholders. However, our Board is not required to authorize the recommencement of our Share Repurchase Program within any specified period of time.The Fund intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Securities Exchange Act of 1934, as amended, and the 1940 Act. All Common Shares purchased by the Fund pursuant to the terms of each tender offer will be retired and thereafter will be authorized and unissued Common Shares. Under the share repurchase program, to the extent the Fund offers to repurchase Common Shares in any particular quarter, the Fund expects to repurchase Common Shares pursuant to tender offers on or around the last business day of that quarter using a purchase price equal to the NAV per share as of the last calendar day of the applicable quarter, except that Common Shares that have not been outstanding for at least one year will be repurchased at 98% of such NAV (an “Early Repurchase Deduction”). The one-year holding period is measured as of the subscription closing date immediately following the prospective repurchase date. The Early Repurchase Deduction may be waived in the case of repurchase requests arising from the death, divorce or qualified disability of the holder. The Early Repurchase Deduction will be retained by the Fund for the benefit of remaining shareholders.Common Shares. The repurchase of the Adviser’s shares, if any, will be on the same terms and subject to the same limitations as other shareholders under the Share Repurchase Program. Payment for repurchased shares may require us to liquidate portfolio holdings earlier than our Adviser would otherwise have caused these holdings to be liquidated, potentially resulting in losses, and may increase our investment-related expenses as a result of higher portfolio turnover rates. Our Adviser intends to take measures, subject to policies as may be established by our Board of Trustees, to attempt to avoid or minimize potential losses and expenses resulting from the repurchase of shares. Class I shares owned by TIAA will be subject to the following restrictions. TIAA may submit its Class I shares for repurchase beginning on March 31, 2027. Beginning March 31, 2027, the total amount of TIAA shares eligible for repurchase will be limited to no more than 1.67% of our aggregate NAV per calendar quarter; provided that, if in any quarter the total amount of aggregate repurchase requests of all classes of Common Shares does not exceed the Share Repurchase Plan limit of 5% of the aggregate NAV per calendar quarter, these redemption limits on the TIAA shares will not apply for that quarter, and TIAA will be entitled to submit its shares for repurchase up to the overall Share Repurchase Plan limits.

CONSOLIDATED FINANCIAL HIGHLIGH

CONSOLIDATED FINANCIAL HIGHLIGHTS	3 Months Ended
	Mar. 31, 2023
Investment Company [Abstract]
CONSOLIDATED FINANCIAL HIGHLIGHTS	CONSOLIDATED FINANCIAL HIGHLIGHTS The following is a schedule of financial highlights for the three months ended March 31, 2023 and for the period from February 8, 2022 (inception) through 2022: Three Months Ended March 31, 2023 Period from February 8, 2022 (inception) through March 31, 2022 Class I Class I Per share data: Net asset value at beginning of period $ 24.70 $ — Net investment income (loss) 0.68 — Net realized gains (losses) (1) — — Net change in unrealized appreciation (depreciation) (1) (0.09) — Net increase (decrease) in net assets resulting from operations 0.59 — Stockholder distributions from income (2) (0.63) — Issuance of common shares — 25.00 Other (3) (0.01) — Net asset value at end of period $ 24.65 $ 25.00 Supplemental Data: Net assets at end of period $ 259,852 $ 263,488 Shares outstanding at end of period (1) 10,540,040 10,540,040 Total return 2.37 % N/M Ratio to average net assets: Ratio of net expenses to average net assets (4) (5) 4.72 % 0.03 % Ratio of net investment income (loss) to average net assets (4) 11.25 % (0.03) % Portfolio turnover rate (6) 0.37 % 100.00 % _______________ (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) The per share data for distributions reflects the actual amount of distributions declared during the period. (3) Includes the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date. (4) Ratios are annualized except for expense support amounts relating to organizational costs and interest expense on the Note. The ratio of total expenses to average net assets was 4.96% and 0.82% for the period ending March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, respectively, on an annualized basis, excluding the effect of expense support which represented (0.24)% and (0.79)%, respectively, of average net assets. Average net assets is calculated utilizing quarterly net assets. (5) The ratio of interest and debt financing expenses to average net assets for the period ending March 31, 2023 and the period February 8, 2022 (inception) through March 31, 2022, was 3.86% and 0%, respectively, Average net assets is calculated utilizing quarterly net assets. (6) Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the periods reported.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSThe Fund’s management evaluated subsequent events through the date of issuance of the consolidated financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in, the consolidated financial statements as of March 31, 2023, except as discussed below. On April 26, 2023, the Board approved an amendment and restatement of the Fund’s Second Amended and Restated Bylaws (the “Third Amended and Restated Bylaws”), which became effective immediately. The Fund adopted the Third Amended and Restated Bylaws as a result of a comment issued by state securities regulators in connection with their “blue sky” review of the Fund’s offering. The change reflected in the Third Amended and Restated Bylaws provides that if a sufficient number of votes to elect an independent trustee are not cast in a contested election, the incumbent independent trustee, if any, will retain their position until the next meeting of shareholders duly called and at which a quorum is present, and until such meeting will only be entitled to vote on actions taken by the trustees regarding the Board’s obligations under Section 15(c) of the 1940 Act. On April 28, 2023, the Board declared a distribution of $0.24 per Class I share to the Class I shareholder of record as of April 30, 2023, payable on May 26, 2023.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The Fund is an investment company for the purposes of accounting and financial reporting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services—Investment Companies (“ASC 946”), and pursuant to Regulation S-X. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair statement of the consolidated financial statements for the period presented, have been included. U.S. GAAP for an investment company requires investments to be recorded at fair value. The carrying value for all other assets and liabilities approximates their fair value unless otherwise disclosed within.
Consolidation	Consolidation As provided under ASC 946, the Fund will generally not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Fund. Accordingly, the consolidated financial statements include the accounts of the Fund and its wholly owned subsidiaries, SPV I and Equity Holdings. All significant intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Fund to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash, Restricted Cash and Cash Equivalents	Cash, Restricted Cash and Cash Equivalents Cash and restricted cash represent cash deposits held at financial institutions, which at times may exceed U.S. federally insured limits. Cash equivalents include short-term highly liquid investments, such as money market funds, that are readily convertible to cash and have original maturities of three months or less. Cash, restricted cash and cash equivalents are carried at cost, which approximates fair value. As of March 31, 2023, the Fund did not hold any restricted cash.
Valuation of Portfolio Investments	Valuation of Portfolio Investments Investments are valued in accordance with the fair value principles established by FASB ASC Topic 820, Fair Value Measurement (“ASC Topic 820”) and in accordance with the 1940 Act. ASC Topic 820’s definition of fair value focuses on the amount that would be received to sell the asset or paid to transfer the liability in the principal or most advantageous market, and prioritizes the use of market-based inputs (observable) over entity-specific inputs (unobservable) within a measurement of fair value. ASC Topic 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC Topic 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings, and provides for enhanced disclosures determined by the level within the hierarchy of information used in the valuation. In accordance with ASC Topic 820, these inputs are summarized in the three levels listed below: • Level 1 — Valuations are based on unadjusted, quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. • Level 2 — Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. • Level 3 — Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Active, publicly traded instruments are classified as Level 1 and their values are generally based on quoted market prices, even if both the market’s normal daily trading volume is not sufficient to absorb the quantity held and placing orders to sell the position in a single transaction might affect the quoted price. Fair value is generally determined as the price that would be received for an investment in a current sale, which assumes an orderly market is available for the market participants at the measurement date. If available, fair value of investments is based on directly observable market prices or on market data derived from comparable assets. The Fund’s valuation policy considers the fact that no ready market may exist for many of the securities in which it invests and that fair value for its investments must be determined using unobservable inputs. Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the Fund's valuation designee (the “Valuation Designee”) to determine the fair value of the Fund's investments that do not have readily available market quotations, effective beginning in the fiscal quarter ended March 31, 2023. Pursuant to the Fund's valuation policy approved by the Board, a valuation committee comprised of employees of the Adviser (the “Valuation Committee”) is responsible for determining the fair value of the Fund's assets for which market quotations are not readily available, subject to the oversight of the Board. With respect to investments for which market quotations are not readily available (Level 3), the Valuation Designee, subject to the oversight of the Board as described below, undertakes a multi-step valuation process each quarter, as follows: i. the quarterly valuation process will begin with each portfolio company or investment being initially valued by either the professionals of the applicable investment team that are responsible for the portfolio investment or an independent third-party valuation firm; ii. to the extent that an independent third-party valuation firm has not been engaged by, or on behalf of, the Board of Trustees to value 100% of the portfolio, then at a minimum, an independent third-party valuation firm will be engaged by, or on behalf of, the Fund will provide positive assurance of the portfolio each quarter (such that each investment is reviewed by a third-party valuation firm at least once on a rolling 12-month basis and each watch-list investment will be reviewed each quarter), including a review of management’s preliminary valuation and recommendation of fair value; iii. the Valuation Committee will then review and discuss the valuations with any input, where appropriate, from the independent valuation firms, and determine the fair value of each investment in good faith based on the Fund’s valuation policy, subject to the oversight of the Board; and iv. the Valuation Designee will provide the Board with the information relating to the fair value determination pursuant to the Fund's valuation policy in connection with each quarterly Board meeting and discuss with the Board its determination of the fair value of each investment in good faith. The Valuation Designee makes this fair value determination on a quarterly basis and in such other instances when a decision regarding the fair value of the portfolio investments is required. Factors considered by the Valuation Designee as part of the valuation of investments include credit ratings/risk, the portfolio company's current and projected earnings, current and expected leverage, ability to make interest and principal payments, the estimated remaining life of the investment, liquidity, compliance with applicable loan covenants, price to earnings (or other financial) ratios of the portfolio company and other comparable companies, current market yields and interest rate spreads of similar securities as of the measurement date. Other factors taken into account include changes in the interest rate environment and the credit markets that may affect the price at which similar investments would trade. The Valuation Designee may also base its valuation of an investment on recent investments and securities with similar structure and risk characteristics. The Sub-Adviser obtains market data from its ongoing investment purchase efforts, in addition to monitoring transactions that have closed and are announced in industry publications. External information may include (but is not limited to) observable market data derived from the U.S. loan and equity markets. As part of compiling market data as an indication of current market conditions, management may utilize third-party sources. When determining NAV as of the last day of a month that is not also the last day of a calendar quarter, the Adviser updates the value of securities with “readily available market quotations” (as defined in Rule 2a-5 under the 1940 Act) to the most recent market quotation. For securities without readily available market quotations, the Adviser generally values such assets at the most recent quarterly valuation unless the Adviser determines that a significant observable change has occurred since the most recent quarter end with respect to the investment (which determination may be as a result of a material event at a portfolio company, material change in market spreads, secondary market transaction in the securities of an investment or otherwise). If the Adviser determines such a change has occurred with respect to one or more investments, the Adviser will determine whether to update the value for each relevant investment. The value assigned to these investments is based upon available information and may fluctuate from period to period. In addition, it does not necessarily represent the amount that ultimately might be realized upon a portfolio investment's sale. Due to the inherent uncertainty of valuation, the estimated fair value of an investment may differ from the value that would have been used had a ready market for the security existed, and the difference could be material.
Investment Transactions	Investment transactions are recorded on the applicable trade date. Any amounts related to purchases, sales and principal paydowns that have traded, but not settled, are reflected as either a receivable for investments sold or payable for investments purchased on the consolidated statement of assets and liabilities. Realized gains and losses on investment transactions are determined on a specific identification basis and are included as net realized gain (loss) on investments in the consolidated statement of operations. Net change in unrealized appreciation (depreciation) on investments is recognized in the consolidated statement of operations and reflects the period-to-period change in fair value and cost of investments.
Revenue Recognition	Interest income, including amortization of premium and accretion of discount on loans, and expenses are recorded on the accrual basis. The Fund accrues interest income if it expects that ultimately it will be able to collect such income. The Fund may have loans in its portfolio that contain payment-in-kind (“PIK”) income provisions. PIK represents interest that is accrued and recorded as interest income at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. If at any point the Fund believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest is generally reversed through PIK income. This non-cash source of income is included when determining what must be paid out to shareholders in the form of distributions in order for the Fund to maintain its tax treatment as a RIC, even though the Fund has not yet collected cash. As of March 31, 2023 and December 31, 2022, the fair value of the loans in the portfolio with PIK income provisions was $73,212 and $70,361, respectively, which represents approximately 19.36% and 20.13% of total investments at fair value, respectively. For the three months ended March 31, 2023 and for the period from February 8, 2022 (inception) through March 31, 2022, the Fund earned PIK income of $567 and $0, respectively. As of March 31, 2023, there were no PIK loans in the Fund's portfolio on non-accrual status. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio companies and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. For the three months ended March 31, 2023 and for the period from February 8, 2022 (inception) to March 31, 2022, the Fund earned $73 and $0, respectively, in dividend income. Other income may include income such as consent, waiver, amendment, unused, and prepayment fees associated with the Fund’s investment activities, as well as any fees for managerial assistance services rendered by the Fund to its portfolio companies. Such fees are recognized as income when earned or the services are rendered. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, the Fund earned other income of $18 and $0, respectively, primarily related to prepayment fees. Loans are generally placed on non-accrual status when a payment default occurs on a loan in the portfolio, or if management otherwise believes that the issuer of the loan will not be able to make contractual interest payments or principal payments. The Fund will cease recognizing interest income on that loan until all principal and interest is current through payment, or until a restructuring occurs such that the interest income is deemed to be collectible. However, the Fund remains contractually entitled to this interest. The Fund may make exceptions to this policy if the loan has sufficient collateral value and is in the process of collection. Accrued interest is written-off when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. As of March 31, 2023 and December 31, 2022, there were no loans in the Fund's portfolio on non-accrual status.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs include capitalized expenses related to the closing or amendments of borrowings. Amortization of deferred financing costs is computed on the straight-line basis over the term of the borrowings. The amortization of such costs is included in interest and debt financing expenses in the accompanying consolidated statement of operations. The unamortized balance of such costs is included as a direct deduction from the related liability in the accompanying consolidated statement of assets and liabilities.
Organization and Offering Costs	Organization and Offering Costs Organization costs consist of primarily legal, incorporation and accounting fees incurred in connection with the organization of the Fund. Organization costs are expensed as incurred and are shown in the Fund's consolidated statement of operations. Refer to Note 4 for further details on the Expense Support Agreement. Offering costs consist primarily of fees and expenses incurred in connection with the offering of Common Shares, as well as legal, printing and other costs associated with the preparation and filing of the registration statements and offering materials. Offering costs are recognized as a deferred charge, amortized on a straight-line basis over 12 months and are shown in the Fund's consolidated statement of operations. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, offering costs of $198 and $58, respectively, were incurred, and $131 and $4, respectively, were amortized and recognized as offering costs on the consolidated statement of operations, and covered under the Expense Support Agreement. Refer to Note 4 for further details on the Expense Support Agreement.
Income Taxes	Income Taxes The Fund intends to elect to be treated for U.S. federal income tax purposes as a RIC under Subchapter M of the Code for the fiscal year ending December 31, 2022. As a result, the Fund must distribute substantially all of its net taxable income each tax year as dividends to its shareholders. Accordingly, no provision for U.S. federal income tax has been made in the consolidated financial statements. The minimum distribution requirements applicable to RICs require the Fund to distribute to its shareholders at least 90% of its investment company taxable income (“ICTI”), as defined by the Code, each year. Depending on the level of ICTI earned in a tax year, the Fund may choose to carry forward ICTI in excess of current year distributions into the next tax year. Any such carryover ICTI must be distributed before the end of that next tax year through a dividend declared prior to filing the final tax return related to the year which generated such ICTI. In addition, based on the excise distribution requirements, the Fund is subject to a 4% nondeductible U.S. federal excise tax on undistributed income unless the Fund distributes in a timely manner an amount at least equal to the sum of (1) 98% of its ordinary income for each calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ended October 31 in that calendar year and (3) any income realized, but not distributed, in the preceding year. For this purpose, however, any ordinary income or capital gain net income retained by the Fund that is subject to U.S. federal income tax is considered to have been distributed. The Fund intends to timely distribute to our shareholders substantially all of our annual taxable income for each year, except that the Fund may retain certain net capital gains for reinvestment and, depending upon the level of taxable income earned in a year, we may choose to carry forward taxable income for distribution in the following year and pay any applicable U.S. federal excise tax. The Fund evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely than not” to be sustained by the applicable tax authority. SPV I is a disregarded entity for tax purposes and will be consolidated with the tax return of the Fund. Equity Holdings has elected to be classified as a corporation for U.S. federal income tax purposes. All penalties and interest associated with income taxes, if any, are included in income tax expense. For the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, the Fund did not incur any excise tax expense.
Dividends and Distributions to Common Shareholders	Dividends and Distributions to Common Shareholders To the extent that the Fund has taxable income available, the Fund intends to pay regular monthly distributions to its shareholders commencing in the first full calendar quarter after the escrow period concludes. Distributions to shareholders are recorded on the record date. All distributions will be paid at the discretion of the Board of Trustees and will depend on the Fund’s earnings, financial condition, maintenance of its tax treatment as a RIC, compliance with applicable BDC regulations and such other factors as the Board of Trustees may deem relevant from time to time. Although the gross distribution per share is generally equivalent for each share class, the net distribution for each share class is reduced for any class specific expenses, including distribution and shareholder servicing fees, if any.
Functional Currency	Functional Currency The functional currency of the Fund is the U.S. Dollar and all transactions were in U.S. Dollars.
Recent Accounting Standards Updates	Recent Accounting Standards Updates The FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reportin g in March 2020. This update provides temporary optional expedients and exceptions for applying US GAAP to contract modifications, hedge accounting, and other transactions subject to meeting certain criteria. The amendments apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discounted because of reference rate reform, and was effective upon issuance through December 31, 2022. The Fund has agreements that have LIBOR as a reference rate with certain portfolio companies. Many of these agreements include an alternative successor rate or language for choosing an alternative successor rate if LIBOR reference is no longer considered to be appropriate. With respect to other agreements, the Fund intends to work with its portfolio companies to modify agreements to choose an alternative successor rate. Contract modifications may be required to be evaluated in determining whether the modifications result in the establishment of new contracts or the continuation of existing contracts. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”), which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. The Fund continues to evaluate the impact that the amendments in this update will have on the Fund's consolidated financial statements and disclosures when applied.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements of Investments	The following table presents fair value measurements of investments, by major class as of March 31, 2023 and December 31, 2022, according to the fair value hierarchy: As of March 31, 2023 Level 1 Level 2 Level 3 Total Assets: First Lien Term Loans $ — $ 1,769 $ 271,508 $ 273,277 Subordinated Debt (1) — — 99,294 99,294 Equity Investments — — 5,613 5,613 Cash Equivalents 16,012 — — 16,012 Total $ 16,012 $ 1,769 $ 376,415 $ 394,196 (1) Subordinated Debt is further comprised of Second Lien Term Loans and/or Second Lien Notes of $24,318 and Mezzanine Debt of $74,976. As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets: First Lien Term Loans $ — $ 1,704 $ 249,667 $ 251,371 Subordinated Debt (1) — — 93,809 93,809 Equity Investments — — 4,338 4,338 Total $ — $ 1,704 $ 347,814 $ 349,518 _______________ (1) Subordinated Debt is further comprised of Second Lien Term Loans and/or Second Lien Notes of $30,906 and Mezzanine Debt of $62,903.
Schedule of Reconciliation of the Beginning and Ending Balances for Investments and Fair value Debt Obligations	The following tables provide a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the three months ended March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022: First Lien Term Loans Subordinated Debt Equity Investments Total Balance as of January 1, 2023 $ 249,668 $ 93,808 $ 4,338 $ 347,814 Purchase of investments 24,019 5,044 1,118 30,181 Proceeds from principal repayments and sales of investments (1,331) — — (1,331) Payment-in-kind interest — 563 — 563 Amortization of premium/accretion of discount, net 192 84 — 276 Net realized gain (loss) on investments 7 — — 7 Net change in unrealized appreciation (depreciation) on investments (1,046) (206) 157 (1,095) Balance as of March 31, 2023 $ 271,509 $ 99,293 $ 5,613 $ 376,415 Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held as of March 31, 2023 $ (1,046) $ (206) $ 157 $ (1,095) Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. For the three months ended March 31, 2023, there were no transfers into or out of Level 3. First Lien Term Loans Subordinated Debt Equity Investments Total Balance as of February 8, 2022 (inception) $ — $ — $ — $ — Purchase of investments 180,987 113,970 1,274 296,231 Balance as of March 31, 2022 $ 180,987 $ 113,970 $ 1,274 $ 296,231 Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held as of March 31, 2022 $ — $ — $ — $ —
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The valuation techniques and significant unobservable inputs used in Level 3 fair value measurements of assets as of March 31, 2023 and December 31, 2022 were as follows: Investment Type Fair Value at March 31, 2023 Valuation Techniques Unobservable Inputs Ranges Weighted Average First Lien Term Loans $ 249,718 Yield Method Discount Rate 8.63 % 13.49 % 10.48 % First Lien Term Loans 21,790 Recent Transaction Transaction Price 97.05 98.07 97.92 Subordinated Debt 84,045 Yield Method Discount Rate 8.88 % 22.69 % 14.22 % Subordinated Debt 15,249 Recent Transaction Transaction Price 97.03 100.00 99.02 Equity Investments 4,268 Market Approach EBITDA Multiple 8.00x 19.50x 10.77x Total $ 375,070 Equity investments in the amount of $1,345 at March 31, 2023 have been excluded from the table above as the investments are valued using recent transaction price. Investment Type Fair Value at December 31, 2022 Valuation Techniques Unobservable Inputs Ranges Weighted Average First Lien Term Loans $ 228,304 Yield Method Implied Discount Rate 8.98 % 13.37 % 10.63 % First Lien Term Loans 21,363 Recent Transaction Transaction Price 98.01 98.08 98.05 Subordinated Debt 88,391 Yield Method Implied Discount Rate 8.88 % 17.94 % 13.39 % Subordinated Debt 5,418 Recent Transaction Transaction Price 97.58 98.08 97.82 Equity Investments 3,144 Enterprise Value EBITDA Multiple 9.25x 13.50x 10.93x Total $ 346,620 Equity investments in the amount of $1,194 at December 31, 2022 have been excluded from the table above as the investments are valued using recent transaction price.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Schedule of Expenses Reimbursed by the Advisor	The following table presents a cumulative summary of the expense payments and reimbursement payments since the Fund’s commencement of operations, comprised primarily of organizational expenses, offering costs and professional fees: For the Quarter Ended Expense Payments by Adviser Reimbursement Payments to Adviser Unreimbursed Expense Payments Reimbursement Eligibility Expiration March 31, 2022 $ 983 $ — $ 983 March 31, 2025 June 30, 2022 677 — 677 June 30, 2025 September 30, 2022 379 — 379 September 30, 2025 December 31, 2022 176 — 176 December 31, 2025 March 31, 2023 198 — 198 March 31, 2026 Total $ 2,413 $ — $ 2,413

SECURED BORROWINGS (Tables)

SECURED BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Borrowings	The borrowing consisted of the following as of March 31, 2023 and December 31, 2022: March 31, 2023 Bank of America Credit Facility Total Total Commitment $ 250,000 $ 250,000 Borrowings Outstanding (1) 135,500 135,500 Unused Portion (2) 114,500 114,500 Amount Available (3) 97,240 97,240 _______________ (1) Borrowings outstanding on the consolidated statement of assets and liabilities are net of deferred financing costs. (2) The unused portion is the amount upon which commitment fees are based. (3) Available for borrowing based on the computation of collateral to support the borrowings and subject to compliance with applicable covenants and financial ratios. December 31, 2022 Bank of America Credit Facility Total Total Commitment $ 250,000 $ 250,000 Borrowings Outstanding (1) 155,000 155,000 Unused Portion (2) 95,000 95,000 Amount Available (3) 81,855 81,855 ______________ (1) Borrowings outstanding on the consolidated statement of assets and liabilities are net of deferred financing costs. (2) The unused portion is the amount upon which commitment fees are based. (3) Available for borrowing based on the computation of collateral to support the borrowings and subject to compliance with applicable covenants and financial ratios. For the three months ended March 31, 2023, the components of interest expense and debt financing expenses were as follows: Three Months Ended March 31, 2023 Borrowing interest expense $ 2,328 Unused fees 109 Amortization of deferred financing costs (1) 39 Total interest and debt financing expenses $ 2,476 Average interest rate (2) 6.99 % Average daily borrowings $ 141,494 _______________ (1) For the three months ended March 31, 2023, $24 of deferred financing costs were designated for reimbursement pursuant to the Expense Support Agreement. (2) Average interest rate includes interest expense and unused fees.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Unfunded Commitments to Fund Delayed Draw Loans	As of March 31, 2023 and December 31, 2022, the Fund had the following unfunded commitments to fund delayed draw loans and an equity investment: Portfolio Company March 31, 2023 December 31, 2022 ADPD Holdings, LLC $ 1,999 $ 2,149 Evergreen Services Group, LLC $ — $ 267 Health Management Associates $ 611 $ — Heartland Veterinary Partners, LLC $ 5,000 $ 5,000 Impact Parent Corporation $ 972 $ — Infobase Acquisition, Inc. $ 122 $ 122 INS Intermediate $ 1,139 $ — ISG Merger Sub, LLC $ 1,282 $ 1,282 ITSavvy, LLC $ 36 $ 480 Kenco Group, Inc. $ 850 $ 850 KL Bronco Acquisition, Inc. $ 599 $ 599 Legacy Service Partners $ 1,305 $ — Ovation Holdings, Inc. $ 705 $ — Patriot Growth Insurance Service $ 4,574 $ 5,568 Randys Holdings, Inc $ 1,332 $ 1,332 SCP Eye Care Holdco, LLC $ 735 $ 735 Transit Buyer LLC $ 1,157 $ — Trilon Group, LLC $ — $ 363 Victors CCC Buyer LLC $ 560 $ 560 Wellspring Pharmaceutical $ 1,895 $ 1,895 Total unfunded commitments $ 24,873 $ 21,202

NET ASSETS (Tables)

NET ASSETS (Tables)	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Fund's Dividends Declared	The following table summarizes the Fund’s dividends declared for the period from February 8, 2022 (inception) through March 31, 2023. Class I Declaration Date Record Date Payment Date Dividend per Share Distribution Amount September 30, 2022 September 30, 2022 October 28, 2022 $ 0.870 (1) $ 9,170 October 31, 2022 October 31, 2022 November 28, 2022 $ 0.180 $ 1,897 November 30, 2022 November 30, 2022 December 28, 2022 $ 0.190 $ 2,003 December 31, 2022 December 31, 2022 January 28, 2023 $ 0.295 (2) $ 3,109 January 31, 2023 January 31, 2023 February 28, 2023 $ 0.200 $ 2,108 February 28, 2023 February 28, 2023 March 28, 2023 $ 0.200 $ 2,108 March 31, 2023 March 31, 2023 April 28, 2023 $ 0.230 $ 2,424 _______________ (1) Represents monthly dividend of $0.14 per share for each of April 2022, May 2022 and June 2022, and monthly dividend of $0.15 per share for each of July 2022, August 2022 and September 2022. (2) Comprised of $0.19 regular dividend and $0.105 special dividend.

CONSOLIDATED FINANCIAL HIGHLI_2

CONSOLIDATED FINANCIAL HIGHLIGHTS (Tables)	3 Months Ended
	Mar. 31, 2023
Investment Company [Abstract]
Schedule of Financial Highlights	The following is a schedule of financial highlights for the three months ended March 31, 2023 and for the period from February 8, 2022 (inception) through 2022: Three Months Ended March 31, 2023 Period from February 8, 2022 (inception) through March 31, 2022 Class I Class I Per share data: Net asset value at beginning of period $ 24.70 $ — Net investment income (loss) 0.68 — Net realized gains (losses) (1) — — Net change in unrealized appreciation (depreciation) (1) (0.09) — Net increase (decrease) in net assets resulting from operations 0.59 — Stockholder distributions from income (2) (0.63) — Issuance of common shares — 25.00 Other (3) (0.01) — Net asset value at end of period $ 24.65 $ 25.00 Supplemental Data: Net assets at end of period $ 259,852 $ 263,488 Shares outstanding at end of period (1) 10,540,040 10,540,040 Total return 2.37 % N/M Ratio to average net assets: Ratio of net expenses to average net assets (4) (5) 4.72 % 0.03 % Ratio of net investment income (loss) to average net assets (4) 11.25 % (0.03) % Portfolio turnover rate (6) 0.37 % 100.00 % _______________ (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) The per share data for distributions reflects the actual amount of distributions declared during the period. (3) Includes the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date. (4) Ratios are annualized except for expense support amounts relating to organizational costs and interest expense on the Note. The ratio of total expenses to average net assets was 4.96% and 0.82% for the period ending March 31, 2023 and for the period February 8, 2022 (inception) through March 31, 2022, respectively, on an annualized basis, excluding the effect of expense support which represented (0.24)% and (0.79)%, respectively, of average net assets. Average net assets is calculated utilizing quarterly net assets. (5) The ratio of interest and debt financing expenses to average net assets for the period ending March 31, 2023 and the period February 8, 2022 (inception) through March 31, 2022, was 3.86% and 0%, respectively, Average net assets is calculated utilizing quarterly net assets.

ORGANIZATION (Details)

ORGANIZATION (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2023	Jun. 03, 2022	Mar. 31, 2022	Mar. 30, 2022
Schedule of Equity Method Investments [Line Items]
Sale of stock	$ 2,500,000
Sale of stock minimum purchase order	2,500
TIAA
Schedule of Equity Method Investments [Line Items]
Portfolio investments to the fund amount			$ 296,231
TIAA | Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Capital commitments	$ 263,500
Debt instrument, periodic payment, principal		$ 32,731
Debt instrument, periodic payment, interest		$ 226
TIAA | Common Class I
Schedule of Equity Method Investments [Line Items]
Purchased shares (in share)				40
Issuance Price per share (in dollars per share)				$ 25
Issuance of shares (in shares)			10,540,000
Shares issued price per share (in dollars per share)			$ 25

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fair Value		$ 394,196		$ 349,518
Payment-in-kind interest income		567	$ 0
Dividend Income		73	0
Other income		18	0
Offering costs	$ 58	198	$ 58
Noninterest expense offering cost	$ 4	131
Payment in Kind (PIK) Note
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fair Value		$ 73,212		$ 70,361
Investment Type Concentration Risk | Investments At Fair Value | Payment in Kind (PIK) Note
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage		19.36%		20.13%

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 394,196	$ 349,518
First Lien Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	273,277	251,371
Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	99,294	93,809
Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,613	4,338
Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,012
Second Lien Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	24,318	30,906
Mezzanine Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	74,976	62,903
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,012	0
Level 1 | First Lien Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Level 1 | Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Level 1 | Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Level 1 | Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,012
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,769	1,704
Level 2 | First Lien Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,769	1,704
Level 2 | Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Level 2 | Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Level 2 | Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	376,415	347,814
Level 3 | First Lien Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	271,508	249,667
Level 3 | Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	99,294	93,809
Level 3 | Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,613	$ 4,338
Level 3 | Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Reconciliation of the Beginning and Ending Balances for Investments (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023
Total
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 0	$ 347,814
Purchase of investments	296,231	30,181
Proceeds from principal repayments and sales of investments		(1,331)
Payment-in-kind interest		563
Amortization of premium/accretion of discount, net		276
Ending balance	296,231	376,415
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held	0	(1,095)
Total | Net realized gain (loss) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		7
Total | Net change in unrealized appreciation (depreciation) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		(1,095)
First Lien Term Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	249,668
Purchase of investments	180,987	24,019
Proceeds from principal repayments and sales of investments		(1,331)
Payment-in-kind interest		0
Amortization of premium/accretion of discount, net		192
Ending balance	180,987	271,509
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held	0	(1,046)
First Lien Term Loans | Net realized gain (loss) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		7
First Lien Term Loans | Net change in unrealized appreciation (depreciation) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		(1,046)
Subordinated Debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	93,808
Purchase of investments	113,970	5,044
Proceeds from principal repayments and sales of investments		0
Payment-in-kind interest		563
Amortization of premium/accretion of discount, net		84
Ending balance	113,970	99,293
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held	0	(206)
Subordinated Debt | Net realized gain (loss) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		0
Subordinated Debt | Net change in unrealized appreciation (depreciation) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		(206)
Equity Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	4,338
Purchase of investments	1,274	1,118
Proceeds from principal repayments and sales of investments		0
Payment-in-kind interest		0
Amortization of premium/accretion of discount, net		0
Ending balance	1,274	5,613
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held	$ 0	157
Equity Investments | Net realized gain (loss) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		0
Equity Investments | Net change in unrealized appreciation (depreciation) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings		$ 157

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details) - Level 3	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 375,070,000	$ 346,620,000
First Lien Term Loans | Yield Method
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 249,718,000	$ 228,304,000
First Lien Term Loans | Yield Method | Low | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0863	0.0898
First Lien Term Loans | Yield Method | High | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1349	0.1337
First Lien Term Loans | Yield Method | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1048	0.1063
First Lien Term Loans | Recent Transaction
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 21,790,000	$ 21,363,000
First Lien Term Loans | Recent Transaction | Low | Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	97.05	98.01
First Lien Term Loans | Recent Transaction | High | Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	98.07	98.08
First Lien Term Loans | Recent Transaction | Weighted Average | Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	97.92	98.05
Subordinated Debt | Yield Method
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 84,045,000	$ 88,391,000
Subordinated Debt | Yield Method | Low | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0888	0.0888
Subordinated Debt | Yield Method | High | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.2269	0.1794
Subordinated Debt | Yield Method | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1422	0.1339
Subordinated Debt | Recent Transaction
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 15,249,000	$ 5,418,000
Subordinated Debt | Recent Transaction | Low | Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	97.03	97.58
Subordinated Debt | Recent Transaction | High | Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	100	98.08
Subordinated Debt | Recent Transaction | Weighted Average | Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	99.02	97.82
Equity Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments valued using recent transactions	$ 1,345,000	$ 1,194,000
Equity Investments | Market Approach
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 4,268,000	$ 3,144,000
Equity Investments | Market Approach | Low | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	8	9.25
Equity Investments | Market Approach | High | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	19.5	13.5
Equity Investments | Market Approach | Weighted Average | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	10.77	10.93

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) $ in Thousands							2 Months Ended	3 Months Ended
	Mar. 31, 2023 USD ($)	Jan. 10, 2023	Aug. 03, 2022	Aug. 02, 2022	Jun. 03, 2022 USD ($)	Mar. 31, 2022	Mar. 31, 2022 USD ($)	Mar. 31, 2023 USD ($) part	Mar. 31, 2022	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Administration fees (See Note 4)							$ 10	$ 118
Administration fees payable	$ 328							328		$ 246
Directors' fees							$ 3	125
Directors’ fees payable	125							$ 125		128
Affiliated Entity | TIAA
Related Party Transaction [Line Items]
Capital commitments	$ 263,500
Interest rate, stated percentage						4%	4%		4%
Debt instrument, periodic payment, principal					$ 32,731
Debt instrument, periodic payment, interest					$ 226
Investment Advisory Agreements | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, period of written notice			120 days	60 days
Related party transaction, initial term						2 years
Related party transaction period of written notice by fund		60 days
Number of components | part								2
Base Management Fee | Affiliated Entity
Related Party Transaction [Line Items]
Base management fee percentage									0.75%
Quarterly Hurdle Rate | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage									1.50%
Annualized Hurdle Rate | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage									6%
Pre-Incentive Fee Net Investment Income below catch-up threshold | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage									100%
Quarterly Catch-Up Threshold | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage									1.76%
Investment Advisory Agreement - Incentive Rate, Annualized Catch-Up Threshold | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage									7.06%
Pre-Incentive Fee Net Investment Income Exceeds Catch-Up Threshold | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage									15%
Realized Capital Gains | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage									15%
Sub-Advisory Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, period of written notice			120 days	60 days
Related party transaction, initial term			2 years
Management and service fees, rate	0.375%
Intermediary Manager Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction period of written notice by fund						60 days
Percentage of shareholder servicing fees, proceeds from sale of such share						10%	10%		10%
Percentage of underwriting compensation, net						10%	10%		10%
Percentage of expense, proceeds from offering						15%	15%		15%
Intermediary Manager Agreement | Affiliated Entity | Common Class S
Related Party Transaction [Line Items]
Shareholder servicing fees monthly, annual rate						0.85%	0.85%		0.85%
Intermediary Manager Agreement | Affiliated Entity | Common Class D
Related Party Transaction [Line Items]
Shareholder servicing fees monthly, annual rate						0.25%	0.25%		0.25%
Expense Support Agreement
Related Party Transaction [Line Items]
Related party transaction, expense payment period						45 days
Expense Support Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, period of reimbursement payment						3 years
Advisor And Administrator | Affiliated Entity
Related Party Transaction [Line Items]
Due to related parties	$ 371							$ 371		$ 231

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Expenses Reimbursed by the Adviser (Details) - Expense Support Agreement - Affiliated Entity - USD ($) $ in Thousands	3 Months Ended					15 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2023
Related Party Transaction [Line Items]
Expense Payments by Adviser	$ 198	$ 176	$ 379	$ 677	$ 983	$ 2,413
Reimbursement Payments to Adviser	0	0	0	0	0	0
Unreimbursed Expense Payments	$ 198	$ 176	$ 379	$ 677	$ 983	$ 2,413

SECURED BORROWINGS - Narrative

SECURED BORROWINGS - Narrative (Details) - USD ($)			3 Months Ended
	Oct. 04, 2022	Oct. 03, 2022	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Asset coverage ratio			291.77%	267.94%
Maximum facility amount available			$ 250,000,000	$ 250,000,000
Bank of America Credit Facility | Secured Borrowings | Credit Facility
Debt Instrument [Line Items]
Maximum facility amount available	$ 250,000,000	$ 200,000,000	$ 250,000,000	$ 250,000,000
Bank of America Credit Facility | Secured Borrowings | Secured Overnight Financing Rate (SOFR) | Credit Facility
Debt Instrument [Line Items]
Percentage of interest rate	2.15%	2%	2.15%
Bank of America Credit Facility | Secured Borrowings | Secured Overnight Financing Rate (SOFR) | Credit Facility | One Year After Closing Date
Debt Instrument [Line Items]
Percentage of interest rate	2.40%

SECURED BORROWINGS - Schedule o

SECURED BORROWINGS - Schedule of Borrowings (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Oct. 04, 2022	Oct. 03, 2022
Debt Instrument [Line Items]
Total Commitment	$ 250,000,000	$ 250,000,000
Borrowings Outstanding	135,500,000	155,000,000
Unused Portion	114,500,000	95,000,000
Amount Available	97,240,000	81,855,000
Bank of America Credit Facility | Secured Borrowings | Credit Facility
Debt Instrument [Line Items]
Total Commitment	250,000,000	250,000,000	$ 250,000,000	$ 200,000,000
Borrowings Outstanding	135,500,000	155,000,000
Unused Portion	114,500,000	95,000,000
Amount Available	$ 97,240,000	$ 81,855,000

SECURED BORROWINGS - Schedule_2

SECURED BORROWINGS - Schedule of Components of Interest Expense and Debt Financing Expenses (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023
Debt Disclosure [Abstract]
Borrowing interest expense		$ 2,328
Unused fees		109
Amortization of deferred financing costs		39
Total interest and debt financing expenses	$ 0	$ 2,476
Average interest rate		6.99%
Average daily borrowings		$ 141,494
Deferred financing costs were designated for reimbursement		$ 24

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Schedule of Unfunded Commitments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	$ 24,873	$ 21,202
Investment, Identifier [Axis]: ADPD Holdings, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	1,999	2,149
Investment, Identifier [Axis]: Evergreen Services Group, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	0	267
Investment, Identifier [Axis]: Health Management Associates
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	611	0
Investment, Identifier [Axis]: Heartland Veterinary Partners, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	5,000	5,000
Investment, Identifier [Axis]: INS Intermediate
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	1,139	0
Investment, Identifier [Axis]: ISG Merger Sub, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	1,282	1,282
Investment, Identifier [Axis]: ITSavvy, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	36	480
Investment, Identifier [Axis]: Impact Parent Corporation
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	972	0
Investment, Identifier [Axis]: Infobase Acquisition, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	122	122
Investment, Identifier [Axis]: KL Bronco Acquisition, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	599	599
Investment, Identifier [Axis]: Kenco Group, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	850	850
Investment, Identifier [Axis]: Legacy Service Partners
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	1,305	0
Investment, Identifier [Axis]: Ovation Holdings, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	705	0
Investment, Identifier [Axis]: Patriot Growth Insurance Service
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	4,574	5,568
Investment, Identifier [Axis]: Randys Holdings, Inc
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	1,332	1,332
Investment, Identifier [Axis]: SCP Eye Care Holdco, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	735	735
Investment, Identifier [Axis]: Transit Buyer LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	1,157	0
Investment, Identifier [Axis]: Trilon Group, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	0	363
Investment, Identifier [Axis]: Victors CCC Buyer LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	560	560
Investment, Identifier [Axis]: Wellspring Pharmaceutical
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded commitments to fund delayed draw loans	$ 1,895	$ 1,895

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Cash	$ 16,297	$ 65,785
Unused Portion	114,500	$ 95,000
Unused Portion Under the Bank of America Credit Facility
Loss Contingencies [Line Items]
Unused Portion	$ 114,500

NET ASSETS - Narrative (Details

NET ASSETS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	Mar. 31, 2022	Mar. 30, 2022	Mar. 31, 2023
Class of Stock [Line Items]
Shares issued for distribution reinvestment plan (in shares)			0
Maximum number of shares to be repurchased, percent			5%
Common stock market price percent of NAV, threshold			98%
TIAA
Class of Stock [Line Items]
Portfolio investments to the fund amount	$ 296,231
Share repurchase program, percentage of outstanding shares offered to repurchase, NAV			1.67%
TIAA | Common Class I
Class of Stock [Line Items]
Purchased shares (in share)		40
Issuance Price per share (in dollars per share)		$ 25
Issuance of shares (in shares)	10,540,000
Shares issued price per share (in dollars per share)	$ 25

NET ASSETS - Schedule of Fund's

NET ASSETS - Schedule of Fund's Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2023	Feb. 28, 2023	Jan. 31, 2023	Dec. 31, 2022	Nov. 30, 2022	Oct. 31, 2022	Sep. 30, 2022	Aug. 31, 2022	Jul. 31, 2022	Jun. 30, 2022	May 31, 2022	Apr. 30, 2022
Class of Stock [Line Items]
Dividend per Share (in dollars per share)							$ 0.15	$ 0.15	$ 0.15	$ 0.14	$ 0.14	$ 0.14
Regular Dividend
Class of Stock [Line Items]
Dividend per Share (in dollars per share)				$ 0.19
Special Dividend
Class of Stock [Line Items]
Dividend per Share (in dollars per share)				0.105
Common Class I
Class of Stock [Line Items]
Dividend per Share (in dollars per share)	$ 0.230	$ 0.200	$ 0.200	$ 0.295	$ 0.190	$ 0.180	$ 0.870
Distribution Amount	$ 2,424	$ 2,108	$ 2,108	$ 3,109	$ 2,003	$ 1,897	$ 9,170

CONSOLIDATED FINANCIAL HIGHLI_3

CONSOLIDATED FINANCIAL HIGHLIGHTS (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Feb. 08, 2022
Per share data:
Net asset value at beginning of period (in dollars per share)		$ 24.70
Other (in dollars per share)		(0.01)	$ 0
Net asset value at end of period (in dollars per share)		$ 24.65
Supplemental Data:
Net assets at end of period	$ 263,488	$ 259,852	$ 263,488	$ 260,301	$ 0
Shares outstanding at end of period (in shares)		10,540,040		10,540,040
Total return		2.37%
Ratio to average net assets:
Ratio of net expenses to average net assets	0.03%	4.72%
Ratio of net investment income (loss) to average net assets	(0.03%)	11.25%
Portfolio turnover rate	100%	0.37%
Ratio of total expenses to average net assets	0.82%	4.96%
Effect of expense support to average net assets ratio	(0.79%)	(0.24%)
Ratio of interest and debt financing expenses to average net assets	0%	3.86%
Common Class I
Per share data:
Net asset value at beginning of period (in dollars per share)	$ 0	$ 24.70
Net investment income (loss) (in dollars per share)	0	0.68
Net realized gains (losses) (in dollars per share)	0	0
Net change in unrealized appreciation (depreciation) (in dollars per share)	0	(0.09)
Net increase (decrease) in net assets resulting from operations (in dollars per share)	0	0.59
Shareholder distributions from income (in dollars per share)		(0.63)
Issuance of common shares (in dollars per share)	25	0
Net asset value at end of period (in dollars per share)	$ 25	$ 24.65	$ 25
Supplemental Data:
Shares outstanding at end of period (in shares)	10,540,040	10,540,040	10,540,040

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares

Apr. 28, 2023

Mar. 31, 2023

Feb. 28, 2023

Jan. 31, 2023

Dec. 31, 2022

Nov. 30, 2022

Oct. 31, 2022

Sep. 30, 2022

Aug. 31, 2022

Jul. 31, 2022

Jun. 30, 2022

May 31, 2022

Apr. 30, 2022

Subsequent Event [Line Items]

Dividend per Share (in dollars per share)

$ 0.15

$ 0.15

$ 0.15

$ 0.14

$ 0.14

$ 0.14

Common Class I

Subsequent Event [Line Items]

Dividend per Share (in dollars per share)

$ 0.230

$ 0.200

$ 0.200

$ 0.295

$ 0.190

$ 0.180

$ 0.870

Subsequent Event | Common Class I

Subsequent Event [Line Items]

Dividend per Share (in dollars per share)

$ 0.24