Document and Entity Information
| Document and Entity Information - shares | 6 Months Ended | |
| Jun. 30, 2023 | Aug. 11, 2023 | |
| Cover [Abstract] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Quarterly Report | true | |
| Document Period End Date | Jun. 30, 2023 | |
| Current Fiscal Year End Date | --12-31 | |
| Document Fiscal Year Focus | 2023 | |
| Document Fiscal Period Focus | Q2 | |
| Document Transition Report | false | |
| Entity File Number | 814-01603 | |
| Entity Registrant Name | Kennedy Lewis Capital Co | |
| Entity Central Index Key | 0001911321 | |
| Entity Incorporation, State or Country Code | DE | |
| Entity Tax Identification Number | 88-6117755 | |
| Entity Address, Address Line One | 225 Liberty St. | |
| Entity Address, Address Line Two | Suite 4210 | |
| Entity Address, City or Town | New York | |
| Entity Address, State or Province | NY | |
| Entity Address, Postal Zip Code | 10281 | |
| City Area Code | 212 | |
| Local Phone Number | 782-3842 | |
| 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 | 10,626,852 |
Consolidated Statements of Asse
| Consolidated Statements of Assets and Liabilities - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
| Investments at fair value | ||
| Non-controlled/non-affiliated investments (cost of $250,953,707 and $0 at June 30, 2023 and December 31, 2022, respectively) | $ 253,290,044 | |
| Cash and cash equivalents | 1,482,159 | $ 10,000 |
| Restricted cash | 311,333 | 0 |
| Interest and fee receivable from non-controlled/non-affiliated investments | 1,616,559 | 0 |
| Deferred financing costs (net of $133,881 and $0 in amortized expenses at June 30, 2023 and December 31, 2022, respectively) | 3,311,210 | 0 |
| Deferred offering costs (net of $246,317 and $0 in amortized expenses at June 30, 2023 and December 31, 2022, respectively) | 456,144 | 401,174 |
| Receivable for investments sold | 11,098,829 | 0 |
| Due from Advisor | $ 691,769 | $ 596,562 |
| Accounts Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration] | Advisor [Member] | Advisor [Member] |
| Other assets | $ 42,081 | $ 0 |
| Total assets | 272,300,128 | 1,007,736 |
| LIABILITIES | ||
| Credit Facility (Note 5) | 13,500,000 | 0 |
| Payable for investments purchased | 40,902,266 | 0 |
| Deferred financing cost payable | 2,250,000 | 0 |
| Due to Advisor and affiliates | $ 77,721 | $ 997,736 |
| Other Liability, Related Party, Type [Extensible Enumeration] | Advisor [Member] | Advisor [Member] |
| Management fees payable | $ 655,299 | $ 0 |
| Capital gain incentive fee payable | 317,514 | 0 |
| Interest and credit facility fees payable | 528,514 | 0 |
| Offering costs payable | 158,582 | 0 |
| Accrued expenses and other liabilities | 741,466 | 0 |
| Total liabilities | 59,131,362 | 997,736 |
| Commitments and contingencies (Note 6) | ||
| NET ASSETS | ||
| Common shares, $0.01 par value (10,625,397 and 500 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively) | 106,254 | 5 |
| Additional paid in capital | 211,117,794 | 9,995 |
| Distributable earnings (loss) | 1,944,718 | 0 |
| Total net assets | 213,168,766 | 10,000 |
| Total liabilities and net assets | $ 272,300,128 | $ 1,007,736 |
| Net asset value per share (in dollars per share) | $ 20.06 | $ 20 |
| Non-controlled/Non-affiliated Investments [Member] | ||
| Investments at fair value | ||
| Non-controlled/non-affiliated investments (cost of $250,953,707 and $0 at June 30, 2023 and December 31, 2022, respectively) | $ 253,290,044 | $ 0 |
Consolidated Statements of As_2
| Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
| ASSETS | ||
| Investments cost | $ 250,953,707 | |
| Deferred financing costs, net amortized expenses | 133,881 | $ 0 |
| Deferred offering costs, net amortized expenses | $ 246,317 | $ 0 |
| NET ASSETS | ||
| Common share, par value (in dollars per share) | $ 0.01 | $ 0.01 |
| Common share, shares issued (in shares) | 10,625,397 | 500 |
| Common share, shares outstanding (in shares) | 10,625,397 | 500 |
| Non-controlled/Non-affiliated Investments [Member] | ||
| ASSETS | ||
| Investments cost | $ 250,953,707 | $ 0 |
Consolidated Statements of Oper
| Consolidated Statements of Operations - USD ($) | 3 Months Ended | 5 Months Ended | 6 Months Ended | |
| Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | |
| From non-controlled/non-affiliated investments: | ||||
| Interest income | $ 4,691,444 | $ 0 | $ 0 | $ 5,673,927 |
| Fee income | 3,279 | 0 | 0 | 3,279 |
| Total investment income | 4,694,723 | 0 | 0 | 5,677,206 |
| Expenses: | ||||
| Interest and debt fee expense | 528,514 | 0 | 0 | 528,514 |
| Management fees | 655,300 | 0 | 0 | 866,349 |
| Capital gains incentive fee | 317,514 | 0 | 0 | 317,514 |
| Directors' fees and expenses | 100,000 | 0 | 0 | 166,667 |
| Professional fees | 534,712 | 0 | 0 | 947,456 |
| Deferred financing expense | 133,881 | 0 | 0 | 133,881 |
| Administrative service expenses | 216,233 | 0 | 0 | 350,658 |
| Other expenses | 155,469 | 0 | 0 | 176,741 |
| Organization costs | 32,938 | 36,644 | 57,890 | 218,472 |
| Amortization of continuous offering costs | 155,670 | 0 | 0 | 246,317 |
| Total expenses | 2,830,231 | 36,644 | 57,890 | 3,952,569 |
| Expenses waived by the Advisor (Note 3) | (691,769) | (36,644) | (57,890) | (691,769) |
| Management fee waiver | 0 | 0 | 0 | (128,140) |
| Net expenses | 2,138,462 | 0 | 0 | 3,132,660 |
| Net investment income | 2,556,261 | 0 | 0 | 2,544,546 |
| Net change in unrealized appreciation (depreciation): | ||||
| Net change in unrealized appreciation (depreciation) | 3,307,416 | 0 | 0 | 2,336,337 |
| Realized gain (loss): | ||||
| Net realized gain (loss) | 90,376 | 0 | 0 | 203,776 |
| Net realized and unrealized gain (loss) | 3,397,792 | 0 | 0 | 2,540,113 |
| Net increase (decrease) in net assets resulting from operations | 5,954,053 | 0 | 0 | 5,084,659 |
| Non-controlled/Non-affiliated Investments [Member] | ||||
| Net change in unrealized appreciation (depreciation): | ||||
| Net change in unrealized appreciation (depreciation) | 3,307,416 | 0 | 0 | 2,336,337 |
| Realized gain (loss): | ||||
| Net realized gain (loss) | $ 90,376 | $ 0 | $ 0 | $ 203,776 |
Consolidated Statements of Chan
| Consolidated Statements of Changes in Net Assets - USD ($) | 3 Months Ended | 5 Months Ended | 6 Months Ended | |
| Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | |
| Operations: | ||||
| Net investment income | $ 2,556,261 | $ 0 | $ 0 | $ 2,544,546 |
| Net realized gain (loss) | 90,376 | 0 | 0 | 203,776 |
| Net change in unrealized appreciation (depreciation) | 3,307,416 | 0 | 0 | 2,336,337 |
| Net increase (decrease) in net assets resulting from operations | 5,954,053 | 0 | 0 | 5,084,659 |
| Capital transactions | ||||
| Proceeds from shares sold | 1,320,000 | 0 | 0 | 208,177,000 |
| Distribution of earnings | (3,139,941) | 0 | 0 | (3,139,941) |
| Reinvestment of distributions | 3,037,048 | 0 | 0 | 3,037,048 |
| Net increase (decrease) from capital transactions | 1,217,107 | 0 | 0 | 208,074,107 |
| Total increase (decrease) in net assets | 7,171,160 | 0 | 0 | 213,158,766 |
| Net Assets, beginning of period | 205,997,606 | 0 | 0 | 10,000 |
| Net Assets, end of period | $ 213,168,766 | $ 0 | $ 0 | $ 213,168,766 |
| Shares sold | 66,456 | 0 | 0 | 10,469,550 |
| Shares issued from reinvestment of dividends | 155,348 | 0 | 0 | 155,348 |
| Net increase in shares outstanding | 221,804 | 0 | 0 | 10,624,898 |
Consolidated Statements of Cash
| Consolidated Statements of Cash Flows - USD ($) | 5 Months Ended | 6 Months Ended |
| Jun. 30, 2022 | Jun. 30, 2023 | |
| Cash flows from operating activities: | ||
| Net increase (decrease) in net assets resulting from operations | $ 0 | $ 5,084,659 |
| Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||
| Net unrealized (appreciation) depreciation on investments | 0 | (2,336,337) |
| Net realized (gain) loss on investments | 0 | (203,776) |
| Payment-in-kind interest capitalized | 0 | (1,505,341) |
| Net accretion of discount and amortization of premium | 0 | (257,263) |
| Amortization of deferred financing costs | 0 | 133,881 |
| Amortization of deferred offering costs | 0 | 246,317 |
| Purchases of investments | 0 | (303,557,803) |
| Proceeds from sale of investments and principal repayments | 0 | 54,570,476 |
| Changes in operating assets and liabilities: | ||
| Interest receivable | 0 | (1,616,559) |
| Deferred offering costs | (39,745) | (142,705) |
| Receivable for investments sold | 0 | (11,098,829) |
| Due from Advisor | (57,890) | (95,207) |
| Other assets | 0 | (42,081) |
| Payable for investments purchased | 0 | 40,902,266 |
| Due to Advisor and affiliates | 97,635 | (920,015) |
| Management fee payable | 0 | 655,299 |
| Capital gains incentive fee payable | 0 | 317,514 |
| Interest and credit facility fees payable | 0 | 528,514 |
| Accrued expenses and other liabilities | 0 | 741,466 |
| Net cash provided by (used in) operating activities | 0 | (218,595,524) |
| Cash flows from financing activities: | ||
| Proceeds from Secured Credit Facility | 0 | 13,500,000 |
| Deferred financing costs paid | 0 | (1,195,091) |
| Dividends paid in cash | 0 | (102,893) |
| Proceeds from issuance of common shares | 0 | 208,177,000 |
| Net cash provided by (used in) financing activities | 0 | 220,379,016 |
| Net increase (decrease) in cash and cash equivalents | 0 | 1,783,492 |
| Restricted cash, cash and cash equivalents, beginning of period | 0 | 10,000 |
| Restricted cash, cash and cash equivalents, end of period | 0 | 1,793,492 |
| Supplemental Cash Flow Information [Abstract] | ||
| Cash paid for interest | 0 | 0 |
| Reinvestment of distributions | $ 0 | $ 3,037,048 |
Consolidated Schedule of Invest
| Consolidated Schedule of Investments | 6 Months Ended | |
| Jun. 30, 2023 USD ($) | ||
| Investments [Abstract] | ||
| Amortized Cost | $ 250,953,707 | |
| Fair Value | $ 253,290,044 | |
| Percentage of investment portfolio | 118.82% | |
| Net Assets | $ 213,168,766 | |
| Investment, Identifier [Axis]: AQA Acquisition Holding, Inc First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.44% Due 3/3/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:AQAAcquisitionHoldingIncMember | [1],[2] |
| Interest Rate | 9.44% | [2],[3] |
| Maturity Date | Mar. 03, 2028 | [2] |
| Par Amount/ Units | $ 870,381 | [2] |
| Amortized Cost | 857,578 | [2],[4] |
| Fair Value | $ 855,150 | [2] |
| Percentage of investment portfolio | 0.40% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: ASP Blade Holdings, Inc. First and Second Lien Debt LIBOR Spread 4.00% Interest Rate 9.19% Due 10/13/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ASPBladeHoldingsIncMember | [1],[2],[5] |
| Interest Rate | 9.19% | [2],[3],[5] |
| Maturity Date | Oct. 13, 2028 | [2],[5] |
| Par Amount/ Units | $ 1,079,752 | [2],[5] |
| Amortized Cost | 929,592 | [2],[4],[5] |
| Fair Value | $ 934,299 | [2],[5] |
| Percentage of investment portfolio | 0.44% | [2],[5] |
| Basis spread on variable rate | 4% | [2],[3],[5] |
| Investment, Identifier [Axis]: AVSC Holding Corp. First and Second Lien Debt LIBOR Spread 3.25% Interest Rate 8.68% Due 3/3/2025 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:AVSCHoldingCorpMember | [1],[2] |
| Interest Rate | 8.68% | [2],[3] |
| Maturity Date | Mar. 03, 2025 | [2] |
| Par Amount/ Units | $ 3,987,057 | [2] |
| Amortized Cost | 3,832,944 | [2],[4] |
| Fair Value | $ 3,884,908 | [2] |
| Percentage of investment portfolio | 1.82% | [2] |
| Basis spread on variable rate | 3.25% | [2],[3] |
| Investment, Identifier [Axis]: Acrisure, LLC First and Second Lien Debt SOFR Spread 5.75% Interest Rate 10.82% Due 2/15/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:AcrisureLLCMember | [1],[2] |
| Interest Rate | 10.82% | [2],[3] |
| Maturity Date | Feb. 15, 2027 | [2] |
| Par Amount/ Units | $ 3,989,975 | [2] |
| Amortized Cost | 3,949,684 | [2],[4] |
| Fair Value | $ 3,999,950 | [2] |
| Percentage of investment portfolio | 1.88% | [2] |
| Basis spread on variable rate | 5.75% | [2],[3] |
| Investment, Identifier [Axis]: Aerospace & Defense First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Aerospace and Defense [Member] | [1],[2] |
| Amortized Cost | $ 5,471,263 | [2],[4] |
| Fair Value | $ 5,516,843 | [2] |
| Percentage of investment portfolio | 2.58% | [2] |
| Investment, Identifier [Axis]: American Auto Auction Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.39% Due 12/30/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:AmericanAutoAuctionGroupLLCMember | [1],[2] |
| Interest Rate | 10.39% | [2],[3] |
| Maturity Date | Dec. 30, 2027 | [2] |
| Par Amount/ Units | $ 1,994,937 | [2] |
| Amortized Cost | 1,848,355 | [2],[4] |
| Fair Value | $ 1,855,291 | [2] |
| Percentage of investment portfolio | 0.87% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: American Greetings Corporation First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.10% Due 4/06/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:AmericanGreetingsCorporationMember | [1],[2] |
| Interest Rate | 11.10% | [2],[3] |
| Maturity Date | Apr. 06, 2028 | [2] |
| Par Amount/ Units | $ 2,992,500 | [2] |
| Amortized Cost | 2,940,090 | [2],[4] |
| Fair Value | $ 2,989,508 | [2] |
| Percentage of investment portfolio | 1.40% | [2] |
| Basis spread on variable rate | 6% | [2],[3] |
| Investment, Identifier [Axis]: Amynta Agency Borrower Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.20% Due 2/28/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:AmyntaAgencyBorrowerIncMember | [1],[2] |
| Interest Rate | 10.20% | [2],[3] |
| Maturity Date | Feb. 28, 2028 | [2] |
| Par Amount/ Units | $ 4,000,000 | [2] |
| Amortized Cost | 3,882,017 | [2],[4] |
| Fair Value | $ 3,882,520 | [2] |
| Percentage of investment portfolio | 1.82% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Apttus Corporation First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.52% Due 5/8/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ApttusCorporationMember | [1],[2] |
| Interest Rate | 9.52% | [2],[3] |
| Maturity Date | May 08, 2028 | [2] |
| Par Amount/ Units | $ 2,992,385 | [2] |
| Amortized Cost | 2,925,356 | [2],[4] |
| Fair Value | $ 2,925,057 | [2] |
| Percentage of investment portfolio | 1.37% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt LIBOR Spread 4.75% Interest Rate 10.25% Due 6/23/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ArclineFMHoldingsLLCMember | [1],[2] |
| Interest Rate | 10.25% | [2],[3] |
| Maturity Date | Jun. 23, 2028 | [2] |
| Par Amount/ Units | $ 3,626,574 | [2] |
| Amortized Cost | 3,501,040 | [2],[4] |
| Fair Value | $ 3,526,843 | [2] |
| Percentage of investment portfolio | 1.65% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: Asurion, LLC First and Second Lien Debt Variable Interest Rate SOFR Spread 4.25% Interest Rate 9.45% Due 8/19/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:AsurionLLCMember | [1],[2] |
| Interest Rate | 9.45% | [2],[3] |
| Maturity Date | Aug. 19, 2028 | [2] |
| Par Amount/ Units | $ 2,992,500 | [2] |
| Amortized Cost | 2,801,704 | [2],[4] |
| Fair Value | $ 2,841,019 | [2] |
| Percentage of investment portfolio | 1.33% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Automotive First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Automotive [Member] | [1],[2] |
| Amortized Cost | $ 15,627,690 | [2],[4] |
| Fair Value | $ 15,553,220 | [2] |
| Percentage of investment portfolio | 7.30% | [2] |
| Investment, Identifier [Axis]: BBB Industries LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.45% Due 7/25/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:BBBIndustriesLLCMember | [1],[2] |
| Interest Rate | 10.45% | [2],[3] |
| Maturity Date | Jul. 25, 2029 | [2] |
| Par Amount/ Units | $ 3,984,987 | [2] |
| Amortized Cost | 3,796,015 | [2],[4] |
| Fair Value | $ 3,772,229 | [2] |
| Percentage of investment portfolio | 1.77% | [2] |
| Basis spread on variable rate | 5.25% | [2],[3] |
| Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.63% Due 6/11/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:BCPEEmpireHoldingsIncMember | [1],[2],[6] |
| Maturity Date | Jun. 11, 2026 | [2],[6] |
| Par Amount/ Units | $ 2,000,000 | [2],[6] |
| Amortized Cost | 1,997,500 | [2],[4],[6] |
| Fair Value | $ 1,990,000 | [2],[6] |
| Percentage of investment portfolio | 0.93% | [2],[6] |
| Basis spread on variable rate | 4.63% | [2],[3],[6] |
| Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.84% Due 12/11/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:BCPEEmpireHoldingsIncMember | [1],[2] |
| Interest Rate | 9.84% | [2],[3] |
| Maturity Date | Dec. 11, 2028 | [2] |
| Par Amount/ Units | $ 2,000,000 | [2] |
| Amortized Cost | 1,980,169 | [2],[4] |
| Fair Value | $ 1,992,820 | [2] |
| Percentage of investment portfolio | 0.94% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: Banking, Finance, Insurance & Real Estate First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Banking, Finance, Insurance and Real Estate [Member] | [1],[2] |
| Amortized Cost | $ 11,609,660 | [2],[4] |
| Fair Value | $ 11,701,027 | [2] |
| Percentage of investment portfolio | 5.49% | [2] |
| Investment, Identifier [Axis]: Beverage, Food and Tobacco First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Beverage, Food and Tobacco [Member] | [1],[2] |
| Amortized Cost | $ 1,844,832 | [2],[4] |
| Fair Value | $ 1,925,409 | [2] |
| Percentage of investment portfolio | 0.90% | [2] |
| Investment, Identifier [Axis]: Brand Industrial Services, Inc. First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.40% Due 6/21/2024 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:BrandIndustrialServicesIncMember | [1],[2] |
| Interest Rate | 9.40% | [2],[3] |
| Maturity Date | Jun. 21, 2024 | [2] |
| Par Amount/ Units | $ 997,347 | [2] |
| Amortized Cost | 945,704 | [2],[4] |
| Fair Value | $ 983,424 | [2] |
| Percentage of investment portfolio | 0.46% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: CDK Global, Inc First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.49% Due 7/6/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:CDKGlobalIncMember | [1],[2] |
| Interest Rate | 9.49% | [2],[3] |
| Maturity Date | Jul. 06, 2029 | [2] |
| Par Amount/ Units | $ 1,492,500 | [2] |
| Amortized Cost | 1,490,717 | [2],[4] |
| Fair Value | $ 1,487,336 | [2] |
| Percentage of investment portfolio | 0.70% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Capital Equipment First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Capital Equipment [Member] | [1],[2] |
| Amortized Cost | $ 23,067,588 | [2],[4] |
| Fair Value | $ 23,078,941 | [2] |
| Percentage of investment portfolio | 10.83% | [2] |
| Investment, Identifier [Axis]: Cardenas Markets, Inc. First and Second Lien Debt SOFR Spread 6.75% Interest Rate Due 8/31/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:CardenasMarketsIncMember | [1],[2],[6] |
| Maturity Date | Aug. 01, 2029 | [2],[6] |
| Par Amount/ Units | $ 2,247,487 | [2],[6] |
| Amortized Cost | 2,211,613 | [2],[4],[6] |
| Fair Value | $ 2,221,731 | [2],[6] |
| Percentage of investment portfolio | 1.04% | [2],[6] |
| Basis spread on variable rate | 6.75% | [2],[3],[6] |
| Investment, Identifier [Axis]: Cash Equivalents | ||
| Investments [Abstract] | ||
| Amortized Cost | $ 516,695 | [2],[4] |
| Fair Value | $ 516,695 | [2] |
| Percentage of investment portfolio | 0.24% | [2] |
| Investment, Identifier [Axis]: Charlotte Buyer, Inc. First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.40% Due 2/11/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:CharlotteBuyerIncMember | [1],[2] |
| Interest Rate | 10.40% | [2],[3] |
| Maturity Date | Feb. 11, 2028 | [2] |
| Par Amount/ Units | $ 4,977,494 | [2] |
| Amortized Cost | 4,843,642 | [2],[4] |
| Fair Value | $ 4,866,744 | [2] |
| Percentage of investment portfolio | 2.28% | [2] |
| Basis spread on variable rate | 5.25% | [2],[3] |
| Investment, Identifier [Axis]: Chemicals, Plastics & Rubber First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Chemicals, Plastics and Rubber [Member] | [1],[2] |
| Amortized Cost | $ 6,871,645 | [2],[4] |
| Fair Value | $ 6,879,180 | [2] |
| Percentage of investment portfolio | 3.23% | [2] |
| Investment, Identifier [Axis]: Construction & Building First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Construction and Building [Member] | [1],[2] |
| Amortized Cost | $ 4,295,802 | [2],[4] |
| Fair Value | $ 4,348,729 | [2] |
| Percentage of investment portfolio | 2.04% | [2] |
| Investment, Identifier [Axis]: Consumer Goods: Durable First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Consumer Goods Durable [Member] | [1],[2] |
| Amortized Cost | $ 1,890,983 | [2],[4] |
| Fair Value | $ 1,911,140 | [2] |
| Percentage of investment portfolio | 0.90% | [2] |
| Investment, Identifier [Axis]: Consumer Goods: Non-Durable First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Consumer Goods Non-Durable [Member] | [1],[2] |
| Amortized Cost | $ 15,550,885 | [2],[4] |
| Fair Value | $ 15,629,380 | [2] |
| Percentage of investment portfolio | 7.33% | [2] |
| Investment, Identifier [Axis]: Containers, Packaging & Glass First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Containers, Packaging and Glass [Member] | [1],[2] |
| Amortized Cost | $ 8,950,246 | [2],[4] |
| Fair Value | $ 8,740,859 | [2] |
| Percentage of investment portfolio | 4.10% | [2] |
| Investment, Identifier [Axis]: Crosby US Acquisition Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.92% Due 6/26/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:CrosbyUSAcquisitionCorpMember | [1],[2],[5] |
| Interest Rate | 9.92% | [2],[3],[5] |
| Maturity Date | Jun. 26, 2026 | [2],[5] |
| Par Amount/ Units | $ 997,409 | [2],[5] |
| Amortized Cost | 973,503 | [2],[4],[5] |
| Fair Value | $ 988,991 | [2],[5] |
| Percentage of investment portfolio | 0.46% | [2],[5] |
| Basis spread on variable rate | 4.75% | [2],[3],[5] |
| Investment, Identifier [Axis]: Cyanco Intermediate 2 Corp. First and Second Lien Debt SOFR Spread 4.75% Due 7/10/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:CyancoIntermediate2CorpMember | [1],[2],[6] |
| Maturity Date | Jul. 10, 2028 | [2],[6] |
| Par Amount/ Units | $ 3,000,000 | [2],[6] |
| Amortized Cost | 2,940,000 | [2],[4],[6] |
| Fair Value | $ 2,917,500 | [2],[6] |
| Percentage of investment portfolio | 1.37% | [2],[6] |
| Basis spread on variable rate | 4.75% | [2],[3],[6] |
| Investment, Identifier [Axis]: DTI Holdco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.80% Due 4/26/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:DTIHoldcoIncMember | [1],[2] |
| Interest Rate | 9.80% | [2],[3] |
| Maturity Date | Apr. 26, 2029 | [2] |
| Par Amount/ Units | $ 1,492,481 | [2] |
| Amortized Cost | 1,438,804 | [2],[4] |
| Fair Value | $ 1,382,873 | [2] |
| Percentage of investment portfolio | 0.65% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: Eagle Parent Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.49% Due 4/2/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:EagleParentCorpMember | [1],[2] |
| Interest Rate | 9.49% | [2],[3] |
| Maturity Date | Apr. 02, 2029 | [2] |
| Par Amount/ Units | $ 2,992,424 | [2] |
| Amortized Cost | 2,958,347 | [2],[4] |
| Fair Value | $ 2,912,616 | [2] |
| Percentage of investment portfolio | 1.37% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Edgewater Generation, L.L.C. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 8.97% Due 12/13/2025 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:EdgewaterGenerationLLCMember | [1],[2] |
| Interest Rate | 8.97% | [2],[3] |
| Maturity Date | Dec. 13, 2025 | [2] |
| Par Amount/ Units | $ 3,000,000 | [2] |
| Amortized Cost | 2,862,498 | [2],[4] |
| Fair Value | $ 2,773,590 | [2] |
| Percentage of investment portfolio | 1.30% | [2] |
| Basis spread on variable rate | 3.75% | [2],[3] |
| Investment, Identifier [Axis]: Endure Digital Inc First and Second Lien Debt LIBOR Spread 3.50% Interest Rate 8.79% Due 2/10/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:EndureDigitalIncMember | [1],[2] |
| Interest Rate | 8.79% | [2],[3] |
| Maturity Date | Feb. 10, 2028 | [2] |
| Par Amount/ Units | $ 994,924 | [2] |
| Amortized Cost | 904,019 | [2],[4] |
| Fair Value | $ 925,279 | [2] |
| Percentage of investment portfolio | 0.43% | [2] |
| Basis spread on variable rate | 3.50% | [2],[3] |
| Investment, Identifier [Axis]: Energy: Electricity First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | klcc:EnergyElectrictyMember | [1],[2] |
| Amortized Cost | $ 10,181,576 | [2],[4] |
| Fair Value | $ 10,186,593 | [2] |
| Percentage of investment portfolio | 4.77% | [2] |
| Investment, Identifier [Axis]: Energy: Oil & Gas First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | klcc:EnergyOilGasMember | [1],[2] |
| Amortized Cost | $ 3,807,500 | [2],[4] |
| Fair Value | $ 3,801,240 | [2] |
| Percentage of investment portfolio | 1.78% | [2] |
| Investment, Identifier [Axis]: Environmental Industries First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Environmental Industries [Member] | [1],[2] |
| Amortized Cost | $ 2,771,080 | [2],[4] |
| Fair Value | $ 2,743,931 | [2] |
| Percentage of investment portfolio | 1.29% | [2] |
| Investment, Identifier [Axis]: Epic Crude Services, LP First and Second Lien Debt LIBOR Spread 5.00% Due 3/2/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:EpicCrudeServicesLPMember | [1],[2],[6] |
| Maturity Date | Mar. 02, 2026 | [2],[6] |
| Par Amount/ Units | $ 4,000,000 | [2],[6] |
| Amortized Cost | 3,807,500 | [2],[4],[6] |
| Fair Value | $ 3,801,240 | [2],[6] |
| Percentage of investment portfolio | 1.78% | [2],[6] |
| Basis spread on variable rate | 5% | [2],[3],[6] |
| Investment, Identifier [Axis]: Eyemart Express LLC First and Second Lien Debt LIBOR Spread 3.00% Interest Rate 8.19% Due 8/31/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:EyemartExpressLLCMember | [1],[2] |
| Interest Rate | 8.19% | [2],[3] |
| Maturity Date | Aug. 31, 2027 | [2] |
| Par Amount/ Units | $ 1,692,434 | [2] |
| Amortized Cost | 1,574,606 | [2],[4] |
| Fair Value | $ 1,565,502 | [2] |
| Percentage of investment portfolio | 0.74% | [2] |
| Basis spread on variable rate | 3% | [2],[3] |
| Investment, Identifier [Axis]: FCG Acquisitions Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.49% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:FCGAcquisitionsIncMember | [1],[2] |
| Interest Rate | 10.49% | [2],[3] |
| Maturity Date | Mar. 31, 2028 | [2] |
| Par Amount/ Units | $ 1,644,351 | [2] |
| Amortized Cost | 1,607,981 | [2],[4] |
| Fair Value | $ 1,612,829 | [2] |
| Percentage of investment portfolio | 0.76% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: Fertitta Entertainment, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.15% Due 1/27/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:FertittaEntertainmentLLCMember | [1],[2] |
| Interest Rate | 9.15% | [2],[3] |
| Maturity Date | Jan. 27, 2029 | [2] |
| Par Amount/ Units | $ 997,475 | [2] |
| Amortized Cost | 980,495 | [2],[4] |
| Fair Value | $ 983,141 | [2] |
| Percentage of investment portfolio | 0.46% | [2] |
| Basis spread on variable rate | 4% | [2],[3] |
| Investment, Identifier [Axis]: First Brands Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.25% Due 3/30/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:FirstBrandsGroupLLCMember | [1],[2] |
| Interest Rate | 10.25% | [2],[3] |
| Maturity Date | Mar. 30, 2027 | [2] |
| Par Amount/ Units | $ 997,449 | [2] |
| Amortized Cost | 970,839 | [2],[4] |
| Fair Value | $ 974,388 | [2] |
| Percentage of investment portfolio | 0.46% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: First Brands Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.26% Due 3/30/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:FirstBrandsGroupLLCMember | [1],[2] |
| Interest Rate | 10.26% | [2],[3] |
| Maturity Date | Mar. 30, 2027 | [2] |
| Par Amount/ Units | $ 3,980,000 | [2] |
| Amortized Cost | 3,833,079 | [2],[4] |
| Fair Value | $ 3,885,475 | [2] |
| Percentage of investment portfolio | 1.82% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: First Student Bidco Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.00% Due 7/21/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:FirstStudentBidcoIncMember | [1],[2] |
| Interest Rate | 9% | [2],[3] |
| Maturity Date | Jul. 21, 2028 | [2] |
| Par Amount/ Units | $ 1,865,045 | [2] |
| Amortized Cost | 1,827,744 | [2],[4] |
| Fair Value | $ 1,821,925 | [2] |
| Percentage of investment portfolio | 0.85% | [2] |
| Basis spread on variable rate | 4% | [2],[3] |
| Investment, Identifier [Axis]: First Student Bidco Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.34% Due 7/21/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:FirstStudentBidcoIncMember | [1],[2] |
| Interest Rate | 9.34% | [2],[3] |
| Maturity Date | Jul. 21, 2028 | [2] |
| Par Amount/ Units | $ 130,174 | [2] |
| Amortized Cost | 127,580 | [2],[4] |
| Fair Value | $ 127,165 | [2] |
| Percentage of investment portfolio | 0.06% | [2] |
| Basis spread on variable rate | 4% | [2],[3] |
| Investment, Identifier [Axis]: First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | klcc:SeniorSecuredLoansFirstLienMember | [1],[2] |
| Amortized Cost | $ 250,953,707 | [2],[4] |
| Fair Value | $ 253,290,044 | [2] |
| Percentage of investment portfolio | 118.82% | [2] |
| Investment, Identifier [Axis]: Gloves Buyer, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.22% Due 12/29/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:GlovesBuyerIncMember | [1],[2] |
| Interest Rate | 10.22% | [2],[3] |
| Maturity Date | Dec. 29, 2027 | [2] |
| Par Amount/ Units | $ 2,000,000 | [2] |
| Amortized Cost | 1,920,951 | [2],[4] |
| Fair Value | $ 1,910,000 | [2] |
| Percentage of investment portfolio | 0.90% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Healthcare & Pharmaceuticals First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Healthcare and Pharmaceuticals [Member] | [1],[2] |
| Amortized Cost | $ 15,460,949 | [2],[4] |
| Fair Value | $ 15,412,309 | [2] |
| Percentage of investment portfolio | 7.24% | [2] |
| Investment, Identifier [Axis]: Heartland Dental, LLC First and Second Lien Debt SOFR Spread 5.00% Due 4/28/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:HeartlandDentalLLCMember | [1],[2],[6] |
| Maturity Date | Apr. 28, 2028 | [2],[6] |
| Par Amount/ Units | $ 1,573,391 | [2],[6] |
| Amortized Cost | 1,511,332 | [2],[4],[6] |
| Fair Value | $ 1,551,757 | [2],[6] |
| Percentage of investment portfolio | 0.73% | [2],[6] |
| Basis spread on variable rate | 5% | [2],[3],[6] |
| Investment, Identifier [Axis]: Help At Home, Inc First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.21% Due 10/29/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:HelpAtHomeIncMember | [1],[2] |
| Interest Rate | 10.21% | [2],[3] |
| Maturity Date | Oct. 29, 2027 | [2] |
| Par Amount/ Units | $ 2,492,626 | [2] |
| Amortized Cost | 2,444,244 | [2],[4] |
| Fair Value | $ 2,423,454 | [2] |
| Percentage of investment portfolio | 1.14% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: High Tech Industries First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | High Tech Industries [Member] | [1],[2] |
| Amortized Cost | $ 16,520,973 | [2],[4] |
| Fair Value | $ 16,458,619 | [2] |
| Percentage of investment portfolio | 7.72% | [2] |
| Investment, Identifier [Axis]: Holley Purchaser, Inc. First and Second Lien Debt SOFR Spread 3.75% Due 11/17/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:HolleyPurchaserIncMember | [1],[2],[5],[6] |
| Maturity Date | Nov. 17, 2028 | [2],[5],[6] |
| Par Amount/ Units | $ 2,493,655 | [2],[5],[6] |
| Amortized Cost | 2,194,416 | [2],[4],[5],[6] |
| Fair Value | $ 2,124,943 | [2],[5],[6] |
| Percentage of investment portfolio | 1% | [2],[5],[6] |
| Basis spread on variable rate | 3.75% | [2],[3],[5],[6] |
| Investment, Identifier [Axis]: Hotel, Gaming & Leisure First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Hotel, Gaming and Leisure [Member] | [1],[2] |
| Amortized Cost | $ 18,224,281 | [2],[4] |
| Fair Value | $ 20,868,778 | [2] |
| Percentage of investment portfolio | 9.79% | [2] |
| Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Due 4/27/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ImagefirstHoldingsLLCMember | [1],[2],[7] |
| Maturity Date | Apr. 27, 2028 | [2],[7] |
| Par Amount/ Units | $ 666,667 | [2],[7] |
| Amortized Cost | (16,188) | [2],[4],[7] |
| Fair Value | $ (18,333) | [2],[7] |
| Percentage of investment portfolio | (0.01%) | [2],[7] |
| Basis spread on variable rate | 5% | [2],[3],[7] |
| Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.39% Due 4/27/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ImagefirstHoldingsLLCMember | [1],[2] |
| Interest Rate | 10.39% | [2],[3] |
| Maturity Date | Apr. 27, 2028 | [2] |
| Par Amount/ Units | $ 3,333,333 | [2] |
| Amortized Cost | 3,251,940 | [2],[4] |
| Fair Value | $ 3,241,667 | [2] |
| Percentage of investment portfolio | 1.52% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Indy US Bidco, LLC First and Second Lien Debt SOFR Spread 6.25% Due 3/6/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:IndyUSBidcoLLC6Member | [1],[2],[6] |
| Maturity Date | Mar. 06, 2028 | [2],[6] |
| Par Amount/ Units | $ 2,694,158 | [2],[6] |
| Amortized Cost | 2,397,801 | [2],[4],[6] |
| Fair Value | $ 2,543,743 | [2],[6] |
| Percentage of investment portfolio | 1.19% | [2],[6] |
| Basis spread on variable rate | 6.25% | [2],[3],[6] |
| Investment, Identifier [Axis]: Investments And Cash Equivalents | ||
| Investments [Abstract] | ||
| Amortized Cost | $ 251,470,402 | [2],[4] |
| Fair Value | $ 253,806,739 | [2] |
| Percentage of investment portfolio | 119.06% | [2] |
| Investment, Identifier [Axis]: Investments Non Controlled Non Affiliated | ||
| Investments [Abstract] | ||
| Amortized Cost | $ 250,953,707 | [2],[4] |
| Fair Value | $ 253,290,044 | [2] |
| Percentage of investment portfolio | 118.82% | [2] |
| Investment, Identifier [Axis]: Investments Portfolio | ||
| Investments [Abstract] | ||
| Amortized Cost | $ 250,953,707 | [2],[4] |
| Fair Value | $ 253,290,044 | [2] |
| Percentage of investment portfolio | 118.82% | [2] |
| Investment, Identifier [Axis]: J-O Building Company LLC First and Second Lien Debt SOFR Spread 6.75% Interest Rate 11.92% Due 5/25/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:JOBuildingCompanyLLCMember | [1],[2],[8] |
| Interest Rate | 11.92% | [2],[3],[8] |
| Maturity Date | May 25, 2028 | [2],[8] |
| Par Amount/ Units | $ 11,975,000 | [2],[8] |
| Amortized Cost | 11,795,665 | [2],[4],[8] |
| Fair Value | $ 11,795,375 | [2],[8] |
| Percentage of investment portfolio | 5.53% | [2],[8] |
| Basis spread on variable rate | 6.75% | [2],[3],[8] |
| Investment, Identifier [Axis]: Journey Personal Care Corp. First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.98% Due 3/1/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:JourneyPersonalCareCorpMember | [1],[2] |
| Interest Rate | 9.98% | [2],[3] |
| Maturity Date | Mar. 01, 2028 | [2] |
| Par Amount/ Units | $ 1,027,548 | [2] |
| Amortized Cost | 875,116 | [2],[4] |
| Fair Value | $ 875,985 | [2] |
| Percentage of investment portfolio | 0.41% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Kenan Advantage Group, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.73% Due 3/24/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:KenanAdvantageGroupIncMember | [1],[2] |
| Interest Rate | 9.73% | [2],[3] |
| Maturity Date | Mar. 24, 2026 | [2] |
| Par Amount/ Units | $ 3,000,000 | [2] |
| Amortized Cost | 2,971,559 | [2],[4] |
| Fair Value | $ 2,992,500 | [2] |
| Percentage of investment portfolio | 1.40% | [2] |
| Basis spread on variable rate | 4% | [2],[3] |
| Investment, Identifier [Axis]: Kestrel Acquisition, LLC First and Second Lien Debt LIBOR Spread 4.25% Due 06/02/2025 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:KestrelAcquisitionLLC6Member | [1],[2],[6] |
| Maturity Date | Jun. 02, 2025 | [2],[6] |
| Par Amount/ Units | $ 158,494 | [2],[6] |
| Amortized Cost | 153,598 | [2],[4],[6] |
| Fair Value | $ 152,427 | [2],[6] |
| Percentage of investment portfolio | 0.07% | [2],[6] |
| Investment, Identifier [Axis]: Kronos Acquisition Holdings Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.38% Due 12/22/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:KronosAcquisitionHoldingsIncMember | [1],[2] |
| Interest Rate | 11.38% | [2],[3] |
| Maturity Date | Dec. 22, 2026 | [2] |
| Par Amount/ Units | $ 2,138,268 | [2] |
| Amortized Cost | 2,100,559 | [2],[4] |
| Fair Value | $ 2,092,830 | [2] |
| Percentage of investment portfolio | 0.98% | [2] |
| Basis spread on variable rate | 6% | [2],[3] |
| Investment, Identifier [Axis]: LABL, Inc. First and Second Lien Debt SOFR Spread 5.10% Interest Rate 10.20% Due 10/29/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:LABLIncMember | [1],[2] |
| Interest Rate | 10.20% | [2],[3] |
| Maturity Date | Oct. 29, 2028 | [2] |
| Par Amount/ Units | $ 3,707,960 | [2] |
| Amortized Cost | 3,618,588 | [2],[4] |
| Fair Value | $ 3,666,654 | [2] |
| Percentage of investment portfolio | 1.72% | [2] |
| Basis spread on variable rate | 5.10% | [2],[3] |
| Investment, Identifier [Axis]: LSF11 Trinity Bidco, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.65% Due 6/14/2030 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:LSF11TrinityBidcoIncMember | [1],[2] |
| Interest Rate | 9.65% | [2],[3] |
| Maturity Date | Jun. 14, 2030 | [2] |
| Par Amount/ Units | $ 2,000,000 | [2] |
| Amortized Cost | 1,970,223 | [2],[4] |
| Fair Value | $ 1,990,000 | [2] |
| Percentage of investment portfolio | 0.93% | [2] |
| Basis spread on variable rate | 4.50% | [2],[3] |
| Investment, Identifier [Axis]: LSF11 a5 Holdco, LLC First and Second Lien Debt SOFR Spread 4.20% Interest Rate 9.45% Due 10/15/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:LSF11A5HoldcoLLCMember | [1],[2] |
| Interest Rate | 9.45% | [2],[3] |
| Maturity Date | Oct. 15, 2028 | [2] |
| Par Amount/ Units | $ 4,000,000 | [2] |
| Amortized Cost | 3,931,645 | [2],[4] |
| Fair Value | $ 3,961,680 | [2] |
| Percentage of investment portfolio | 1.86% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: LaserShip, Inc. First and Second Lien Debt - First Lien LIBOR Spread 4.50% Interest Rate 9.69% Due 5/07/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:LaserShipIncMember | [1],[2] |
| Interest Rate | 9.69% | [2],[3] |
| Maturity Date | May 07, 2028 | [2] |
| Par Amount/ Units | $ 1,015,836 | [2] |
| Amortized Cost | 890,092 | [2],[4] |
| Fair Value | $ 832,985 | [2] |
| Percentage of investment portfolio | 0.39% | [2] |
| Basis spread on variable rate | 4.50% | [2],[3] |
| Investment, Identifier [Axis]: Liabilities in Excess of Other Assets | ||
| Investments [Abstract] | ||
| Fair Value | $ (40,637,973) | [2] |
| Percentage of investment portfolio | (19.06%) | [2] |
| Investment, Identifier [Axis]: Lincoln Metal Shop, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.38% Due 6/7/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:LincolnMetalShopIncMember | [1],[2],[8] |
| Interest Rate | 11.38% | [2],[3],[8] |
| Maturity Date | Jun. 07, 2027 | [2],[8] |
| Par Amount/ Units | $ 23,773,243 | [2],[8] |
| Amortized Cost | 23,306,233 | [2],[4],[8] |
| Fair Value | $ 23,297,778 | [2],[8] |
| Percentage of investment portfolio | 10.93% | [2],[8] |
| Basis spread on variable rate | 6% | [2],[3],[8] |
| Investment, Identifier [Axis]: MED ParentCo LP First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.47% Due 8/31/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MEDParentCoLPMember | [1],[2] |
| Interest Rate | 9.47% | [2],[3] |
| Maturity Date | Aug. 31, 2026 | [2] |
| Par Amount/ Units | $ 1,994,819 | [2] |
| Amortized Cost | 1,857,225 | [2],[4] |
| Fair Value | $ 1,846,105 | [2] |
| Percentage of investment portfolio | 0.87% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/12/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MEIBuyerLLCMember | [1],[2],[7],[8] |
| Maturity Date | Jun. 12, 2028 | [2],[7],[8] |
| Par Amount/ Units | $ 2,650,602 | [2],[7],[8] |
| Amortized Cost | (79,476) | [2],[4],[7],[8] |
| Fair Value | $ (79,518) | [2],[7],[8] |
| Percentage of investment portfolio | (0.04%) | [2],[7],[8] |
| Basis spread on variable rate | 6.50% | [2],[3],[7],[8] |
| Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/12/2030 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MEIBuyerLLCMember | [1],[2],[7],[8] |
| Maturity Date | Jun. 12, 2030 | [2],[7],[8] |
| Par Amount/ Units | $ 2,409,639 | [2],[7],[8] |
| Amortized Cost | (36,131) | [2],[4],[7],[8] |
| Fair Value | $ (36,144) | [2],[7],[8] |
| Percentage of investment portfolio | (0.02%) | [2],[7],[8] |
| Basis spread on variable rate | 6.50% | [2],[3],[7],[8] |
| Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.60% Due 6/30/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MEIBuyerLLCMember | [1],[2],[8] |
| Interest Rate | 11.60% | [2],[3],[8] |
| Maturity Date | Jun. 30, 2029 | [2],[8] |
| Par Amount/ Units | $ 15,221,687 | [2],[8] |
| Amortized Cost | 14,765,207 | [2],[4],[8] |
| Fair Value | $ 14,765,036 | [2],[8] |
| Percentage of investment portfolio | 6.93% | [2],[8] |
| Basis spread on variable rate | 6.50% | [2],[3],[8] |
| Investment, Identifier [Axis]: MajorDrive Holdings IV, LLC First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.93% Due 6/1/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MajorDriveHoldingsIVLLCMember | [1],[2] |
| Interest Rate | 10.93% | [2],[3] |
| Maturity Date | Jun. 01, 2029 | [2] |
| Par Amount/ Units | $ 1,595,960 | [2] |
| Amortized Cost | 1,564,496 | [2],[4] |
| Fair Value | $ 1,558,056 | [2] |
| Percentage of investment portfolio | 0.73% | [2] |
| Basis spread on variable rate | 5.50% | [2],[3] |
| Investment, Identifier [Axis]: Media: Advertising, Printing & Publishing First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Advertising, Printing and Publishing Media [Member] | [1],[2] |
| Amortized Cost | $ 4,793,595 | [2],[4] |
| Fair Value | $ 4,865,122 | [2] |
| Percentage of investment portfolio | 2.28% | [2] |
| Investment, Identifier [Axis]: Media: Broadcasting & Subscription First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Broadcasting and Subscription Media [Member] | [1],[2] |
| Amortized Cost | $ 8,780,950 | [2],[4] |
| Fair Value | $ 8,551,525 | [2] |
| Percentage of investment portfolio | 4.01% | [2] |
| Investment, Identifier [Axis]: Mermaid BidCo Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.78% Due 12/22/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MermaidBidCoIncMember | [1],[2] |
| Interest Rate | 9.78% | [2],[3] |
| Maturity Date | Dec. 22, 2027 | [2] |
| Par Amount/ Units | $ 1,997,462 | [2] |
| Amortized Cost | 1,959,622 | [2],[4] |
| Fair Value | $ 1,972,494 | [2] |
| Percentage of investment portfolio | 0.93% | [2] |
| Basis spread on variable rate | 4.50% | [2],[3] |
| Investment, Identifier [Axis]: Michaels Companies, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.75% Due 4/15/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MichaelsCompaniesIncMember | [1],[2] |
| Interest Rate | 9.75% | [2],[3] |
| Maturity Date | Apr. 15, 2028 | [2] |
| Par Amount/ Units | $ 994,924 | [2] |
| Amortized Cost | 918,989 | [2],[4] |
| Fair Value | $ 878,767 | [2] |
| Percentage of investment portfolio | 0.41% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Mitnick Corporate Purchaser, Inc First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.90% Due 5/2/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:MitnickCorporatePurchaserIncMember | [1],[2] |
| Interest Rate | 9.90% | [2],[3] |
| Maturity Date | May 02, 2029 | [2] |
| Par Amount/ Units | $ 1,492,481 | [2] |
| Amortized Cost | 1,448,594 | [2],[4] |
| Fair Value | $ 1,443,976 | [2] |
| Percentage of investment portfolio | 0.68% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: NMN Holdings III Corp First and Second Lien Debt SOFR Spread 3.75% Interest Rate 8.97% Due 11/13/2025, First | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:NMNHoldingsIIICorpMember | [1],[2] |
| Interest Rate | 8.97% | [2],[3] |
| Maturity Date | Nov. 13, 2025 | [2] |
| Par Amount/ Units | $ 1,778,541 | [2] |
| Amortized Cost | 1,585,565 | [2],[4] |
| Fair Value | $ 1,538,438 | [2] |
| Percentage of investment portfolio | 0.72% | [2] |
| Basis spread on variable rate | 3.75% | [2],[3] |
| Investment, Identifier [Axis]: NMN Holdings III Corp First and Second Lien Debt SOFR Spread 3.75% Interest Rate 8.97% Due 11/13/2025, Second | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:NMNHoldingsIIICorpMember | [1],[2] |
| Interest Rate | 8.97% | [2],[3] |
| Maturity Date | Nov. 13, 2025 | [2] |
| Par Amount/ Units | $ 381,659 | [2] |
| Amortized Cost | 340,248 | [2],[4] |
| Fair Value | $ 330,135 | [2] |
| Percentage of investment portfolio | 0.16% | [2] |
| Basis spread on variable rate | 3.75% | [2],[3] |
| Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.66% Due 10/11/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:NeptuneBidcoUSIncMember | [1],[2] |
| Interest Rate | 9.66% | [2],[3] |
| Maturity Date | Oct. 11, 2028 | [2] |
| Par Amount/ Units | $ 4,500,000 | [2] |
| Amortized Cost | 3,907,400 | [2],[4] |
| Fair Value | $ 3,898,125 | [2] |
| Percentage of investment portfolio | 1.83% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.00% Due 4/11/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:NeptuneBidcoUSIncMember | [1],[2] |
| Interest Rate | 10% | [2],[3] |
| Maturity Date | Apr. 11, 2029 | [2] |
| Par Amount/ Units | $ 5,300,000 | [2] |
| Amortized Cost | 4,873,550 | [2],[4] |
| Fair Value | $ 4,653,400 | [2] |
| Percentage of investment portfolio | 2.18% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Net Assets | ||
| Investments [Abstract] | ||
| Net Assets | $ 213,168,766 | [2] |
| Percentage of Net Assets | 100% | [2] |
| Investment, Identifier [Axis]: Nielsen Consumer Inc. First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.35% Due 3/6/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:NielsenConsumerIncMember | [1],[2] |
| Interest Rate | 11.35% | [2],[3] |
| Maturity Date | Mar. 06, 2028 | [2] |
| Par Amount/ Units | $ 1,305,842 | [2] |
| Amortized Cost | 1,168,044 | [2],[4] |
| Fair Value | $ 1,232,937 | [2] |
| Percentage of investment portfolio | 0.58% | [2] |
| Basis spread on variable rate | 6.25% | [2],[3] |
| Investment, Identifier [Axis]: Non-qualifying Assets | ||
| Investments [Abstract] | ||
| Percentage of investment portfolio | 2.40% | [5] |
| Investment, Identifier [Axis]: OneDigital Borrower LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.45% Due 11/16/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:OneDigitalBorrowerLLCMember | [1],[2] |
| Interest Rate | 9.45% | [2],[3] |
| Maturity Date | Nov. 16, 2027 | [2] |
| Par Amount/ Units | $ 994,950 | [2] |
| Amortized Cost | 976,255 | [2],[4] |
| Fair Value | $ 977,538 | [2] |
| Percentage of investment portfolio | 0.46% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Oscar AcquisitionCo, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.84% Due 4/29/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:OscarAcquisitionCoLLCMember | [1],[2] |
| Interest Rate | 9.84% | [2],[3] |
| Maturity Date | Apr. 29, 2029 | [2] |
| Par Amount/ Units | $ 2,491,219 | [2] |
| Amortized Cost | 2,420,506 | [2],[4] |
| Fair Value | $ 2,431,006 | [2] |
| Percentage of investment portfolio | 1.14% | [2] |
| Basis spread on variable rate | 4.50% | [2],[3] |
| Investment, Identifier [Axis]: PAI Holdco, Inc. First and Second Lien Debt LIBOR Spread 3.75% Interest Rate 9.02% Due 10/28/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:PAIHoldcoIncMember | [1],[2] |
| Interest Rate | 9.02% | [2],[3] |
| Maturity Date | Oct. 28, 2027 | [2] |
| Par Amount/ Units | $ 1,496,173 | [2] |
| Amortized Cost | 1,420,490 | [2],[4] |
| Fair Value | $ 1,382,838 | [2] |
| Percentage of investment portfolio | 0.65% | [2] |
| Basis spread on variable rate | 3.75% | [2],[3] |
| Investment, Identifier [Axis]: Parkway Generation, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.28% Due 2/18/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ParkwayGenerationLLCMember | [1],[2] |
| Interest Rate | 10.28% | [2],[3] |
| Maturity Date | Feb. 18, 2029 | [2] |
| Par Amount/ Units | $ 995,546 | [2] |
| Amortized Cost | 964,037 | [2],[4] |
| Fair Value | $ 969,054 | [2] |
| Percentage of investment portfolio | 0.45% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: Particle Investments S.a.r.l First and Second Lien Debt LIBOR Spread 5.25% Interest Rate 10.75% Due 2/18/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ParticleInvestmentsSARLMember | [1],[2],[5],[9] |
| Interest Rate | 10.75% | [2],[3],[5],[9] |
| Maturity Date | Feb. 18, 2027 | [2],[5],[9] |
| Par Amount/ Units | $ 994,540 | [2],[5],[9] |
| Amortized Cost | 988,478 | [2],[4],[5],[9] |
| Fair Value | $ 977,762 | [2],[5],[9] |
| Percentage of investment portfolio | 0.46% | [2],[5],[9] |
| Basis spread on variable rate | 5.25% | [2],[3],[5],[9] |
| Investment, Identifier [Axis]: Patriot Container Corp. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.00% Due 3/20/2025 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:PatriotContainerCorpMember | [1],[2] |
| Interest Rate | 9% | [2],[3] |
| Maturity Date | Mar. 20, 2025 | [2] |
| Par Amount/ Units | $ 2,989,488 | [2] |
| Amortized Cost | 2,771,080 | [2],[4] |
| Fair Value | $ 2,743,931 | [2] |
| Percentage of investment portfolio | 1.29% | [2] |
| Basis spread on variable rate | 3.75% | [2],[3] |
| Investment, Identifier [Axis]: Pediatric Associates Holding Company, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.72% Due 12/29/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:PediatricAssociatesHoldingCompanyLLCMember | [1],[2] |
| Interest Rate | 9.72% | [2],[3] |
| Maturity Date | Dec. 29, 2028 | [2] |
| Par Amount/ Units | $ 1,000,000 | [2] |
| Amortized Cost | 960,359 | [2],[4] |
| Fair Value | $ 960,000 | [2] |
| Percentage of investment portfolio | 0.45% | [2] |
| Basis spread on variable rate | 4.50% | [2],[3] |
| Investment, Identifier [Axis]: Physician Partners LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.39% Due 12/23/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:PhysicianPartnersLLCMember | [1],[2] |
| Interest Rate | 9.39% | [2],[3] |
| Maturity Date | Dec. 23, 2028 | [2] |
| Par Amount/ Units | $ 997,475 | [2] |
| Amortized Cost | 943,817 | [2],[4] |
| Fair Value | $ 935,133 | [2] |
| Percentage of investment portfolio | 0.44% | [2] |
| Basis spread on variable rate | 4% | [2],[3] |
| Investment, Identifier [Axis]: Planview Parent, Inc First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.14% Due 12/17/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:PlanviewParentIncMember | [1],[2] |
| Interest Rate | 9.14% | [2],[3] |
| Maturity Date | Dec. 17, 2027 | [2] |
| Par Amount/ Units | $ 2,621,218 | [2] |
| Amortized Cost | 2,485,462 | [2],[4] |
| Fair Value | $ 2,478,702 | [2] |
| Percentage of investment portfolio | 1.16% | [2] |
| Basis spread on variable rate | 4% | [2],[3] |
| Investment, Identifier [Axis]: Potomac Energy Center, LLC First and Second Lien Debt LIBOR Spread 6.00% Due 11/12/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:PotomacEnergyCenterLLCMember | [1],[2],[6],[8] |
| Maturity Date | Nov. 12, 2026 | [2],[6],[8] |
| Par Amount/ Units | $ 9,858,330 | [2],[6],[8] |
| Amortized Cost | 9,217,539 | [2],[4],[6],[8] |
| Fair Value | $ 9,217,539 | [2],[6],[8] |
| Percentage of investment portfolio | 4.32% | [2],[6],[8] |
| Basis spread on variable rate | 6% | [2],[3],[6],[8] |
| Investment, Identifier [Axis]: Pretium PKG Holdings, Inc. First and Second Lien Debt LIBOR Spread 4.00% Interest Rate 9.51% Due 10/02/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:PretiumPKGHoldingsIncMember | [1],[2] |
| Interest Rate | 9.51% | [2],[3] |
| Maturity Date | Oct. 02, 2028 | [2] |
| Par Amount/ Units | $ 1,992,418 | [2] |
| Amortized Cost | 1,641,218 | [2],[4] |
| Fair Value | $ 1,481,183 | [2] |
| Percentage of investment portfolio | 0.69% | [2] |
| Basis spread on variable rate | 4% | [2],[3] |
| Investment, Identifier [Axis]: Rand Parent, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.49% Due 3/17/2030 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:RandParentLLCMember | [1],[2] |
| Interest Rate | 9.49% | [2],[3] |
| Maturity Date | Mar. 17, 2030 | [2] |
| Par Amount/ Units | $ 2,992,500 | [2] |
| Amortized Cost | 2,880,875 | [2],[4] |
| Fair Value | $ 2,805,469 | [2] |
| Percentage of investment portfolio | 1.32% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Ranger Holdco Spe LLC First and Second Lien Debt 15.00% Interest Rate 15.00% Due 6/13/2030 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:RangerHoldcoSpeLLCMember | [1],[2],[8] |
| Interest Rate | 15% | [2],[3],[8] |
| Maturity Date | Jun. 13, 2030 | [2],[8] |
| Par Amount/ Units | $ 16,500,000 | [2],[8] |
| Amortized Cost | 15,004,322 | [2],[4],[8] |
| Fair Value | $ 17,655,000 | [2],[8] |
| Percentage of investment portfolio | 8.28% | [2],[8] |
| Basis spread on variable rate | 15% | [2],[3],[8] |
| Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.35% Due 12/22/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:ImagefirstHoldingsLLCMember, klcc:RelaDyneIncMember | [1],[2] |
| Interest Rate | 9.35% | [2],[3] |
| Maturity Date | Dec. 22, 2028 | [2] |
| Par Amount/ Units | $ 1,994,949 | [2] |
| Amortized Cost | 1,924,753 | [2],[4] |
| Fair Value | $ 1,940,088 | [2] |
| Percentage of investment portfolio | 0.91% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.10% Due 12/22/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:RelaDyneIncMember | [1],[2] |
| Interest Rate | 10.10% | [2],[3] |
| Maturity Date | Dec. 22, 2028 | [2] |
| Par Amount/ Units | $ 2,000,000 | [2] |
| Amortized Cost | 1,902,672 | [2],[4] |
| Fair Value | $ 1,972,500 | [2] |
| Percentage of investment portfolio | 0.93% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Renaissance Holding Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 8.13% Due 4/05/2030 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:RenaissanceHoldingCorpMember | [1],[2] |
| Interest Rate | 8.13% | [2],[3] |
| Maturity Date | Apr. 05, 2030 | [2] |
| Par Amount/ Units | $ 4,932,950 | [2] |
| Amortized Cost | 4,793,595 | [2],[4] |
| Fair Value | $ 4,865,122 | [2] |
| Percentage of investment portfolio | 2.28% | [2] |
| Basis spread on variable rate | 4.75% | [2],[3] |
| Investment, Identifier [Axis]: Retail First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | us-gaap:RetailMember | [1],[2] |
| Amortized Cost | $ 5,650,405 | [2],[4] |
| Fair Value | $ 5,518,660 | [2] |
| Percentage of investment portfolio | 2.59% | [2] |
| Investment, Identifier [Axis]: Rinchem Company, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.59% Due 3/2/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:RinchemCompanyIncMember | [1],[2] |
| Interest Rate | 9.59% | [2],[3] |
| Maturity Date | Mar. 02, 2029 | [2] |
| Par Amount/ Units | $ 994,975 | [2] |
| Amortized Cost | 959,278 | [2],[4] |
| Fair Value | $ 934,033 | [2] |
| Percentage of investment portfolio | 0.44% | [2] |
| Basis spread on variable rate | 4.25% | [2],[3] |
| Investment, Identifier [Axis]: Sabre GLBL Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.20% Due 6/30/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:SabreGLBLIncMember | [1],[2],[5] |
| Interest Rate | 10.20% | [2],[3],[5] |
| Maturity Date | Jun. 30, 2028 | [2],[5] |
| Par Amount/ Units | $ 669,678 | [2],[5] |
| Amortized Cost | 575,264 | [2],[4],[5] |
| Fair Value | $ 530,385 | [2],[5] |
| Percentage of investment portfolio | 0.25% | [2],[5] |
| Basis spread on variable rate | 5% | [2],[3],[5] |
| Investment, Identifier [Axis]: Services: Business First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Business Services [Member] | [1],[2] |
| Amortized Cost | $ 53,921,568 | [2],[4] |
| Fair Value | $ 54,180,063 | [2] |
| Percentage of investment portfolio | 25.42% | [2] |
| Investment, Identifier [Axis]: Services: Consumer First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Consumer Services [Member] | [1],[2] |
| Amortized Cost | $ 3,371,026 | [2],[4] |
| Fair Value | $ 3,382,030 | [2] |
| Percentage of investment portfolio | 1.59% | [2] |
| Investment, Identifier [Axis]: Staples, Inc. First and Second Lien Debt LIBOR Spread 5.00% Interest Rate 10.30% Due 4/16/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:StaplesIncMember | [1],[2] |
| Interest Rate | 10.30% | [2],[3] |
| Maturity Date | Apr. 16, 2026 | [2] |
| Par Amount/ Units | $ 1,000,000 | [2] |
| Amortized Cost | 945,197 | [2],[4] |
| Fair Value | $ 852,660 | [2] |
| Percentage of investment portfolio | 0.40% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Star US Bidco, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.35% Due 3/17/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:StarUSBidcoLLCMember | [1],[2],[5] |
| Interest Rate | 9.35% | [2],[3],[5] |
| Maturity Date | Mar. 17, 2027 | [2],[5] |
| Par Amount/ Units | $ 994,857 | [2],[5] |
| Amortized Cost | 983,292 | [2],[4],[5] |
| Fair Value | $ 976,203 | [2],[5] |
| Percentage of investment portfolio | 0.46% | [2],[5] |
| Basis spread on variable rate | 4.25% | [2],[3],[5] |
| Investment, Identifier [Axis]: State Street Institutional Money Market Fund | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:StateStreetInstitutionalMoneyMarketFundMember | [1],[2],[10] |
| Amortized Cost | $ 516,695 | [2],[4],[10] |
| Fair Value | $ 516,695 | [2],[10] |
| Percentage of investment portfolio | 0.24% | [2],[10] |
| Investment, Identifier [Axis]: TGG TS Acquisition Company First and Second Lien Debt LIBOR Spread 6.50% Interest Rate 11.72% Due 12/14/2025 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:TGGTSAcquisitionCompanyMember | [1],[2] |
| Interest Rate | 11.72% | [2],[3] |
| Maturity Date | Dec. 14, 2025 | [2] |
| Par Amount/ Units | $ 3,473,621 | [2] |
| Amortized Cost | 3,469,987 | [2],[4] |
| Fair Value | $ 3,372,017 | [2] |
| Percentage of investment portfolio | 1.58% | [2] |
| Basis spread on variable rate | 6.50% | [2],[3] |
| Investment, Identifier [Axis]: Tank Holding Corp First and Second Lien Debt SOFR Spread 6.00% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:TankHoldingCorpMember | [1],[2],[7] |
| Maturity Date | Mar. 31, 2028 | [2],[7] |
| Par Amount/ Units | $ 1,637,360 | [2],[7] |
| Amortized Cost | (21,266) | [2],[4],[7] |
| Fair Value | $ (65,494) | [2],[7] |
| Percentage of investment portfolio | (0.03%) | [2],[7] |
| Basis spread on variable rate | 6% | [2],[3],[7] |
| Investment, Identifier [Axis]: Tank Holding Corp First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.18% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:TankHoldingCorpMember | [1],[2] |
| Interest Rate | 11.18% | [2],[3] |
| Maturity Date | Mar. 31, 2028 | [2] |
| Par Amount/ Units | $ 3,810,954 | [2] |
| Amortized Cost | 3,711,706 | [2],[4] |
| Fair Value | $ 3,658,516 | [2] |
| Percentage of investment portfolio | 1.72% | [2] |
| Basis spread on variable rate | 6% | [2],[3] |
| Investment, Identifier [Axis]: Team Services Group First and Second Lien Debt LIBOR Spread 5.00% Interest Rate 10.27% Due 12/20/2027 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:TeamServicesGroupMember | [1],[2] |
| Interest Rate | 10.27% | [2],[3] |
| Maturity Date | Dec. 20, 2027 | [2] |
| Par Amount/ Units | $ 993,661 | [2] |
| Amortized Cost | 974,517 | [2],[4] |
| Fair Value | $ 960,543 | [2] |
| Percentage of investment portfolio | 0.45% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Titan Acquisition Limited First and Second Lien Debt SOFR Spread 3.00% Interest Rate 8.73% Due 3/28/2025 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:TitanAcquisitionLimitedMember | [1],[2],[11] |
| Interest Rate | 8.73% | [2],[3],[11] |
| Maturity Date | Mar. 28, 2025 | [2],[11] |
| Par Amount/ Units | $ 1,989,501 | [2],[11] |
| Amortized Cost | 1,894,865 | [2],[4],[11] |
| Fair Value | $ 1,938,928 | [2],[11] |
| Percentage of investment portfolio | 0.91% | [2],[11] |
| Basis spread on variable rate | 3% | [2],[3],[11] |
| Investment, Identifier [Axis]: TouchTunes Interactive Networks, Inc First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.24% Due 4/2/2029 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:TouchTunesInteractiveNetworksIncMember | [1],[2] |
| Interest Rate | 10.24% | [2],[3] |
| Maturity Date | Apr. 02, 2029 | [2] |
| Par Amount/ Units | $ 2,241,847 | [2] |
| Amortized Cost | 2,239,464 | [2],[4] |
| Fair Value | $ 2,230,637 | [2] |
| Percentage of investment portfolio | 1.05% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Transportation: Cargo First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Cargo Transportation [Member] | [1],[2] |
| Amortized Cost | $ 6,742,526 | [2],[4] |
| Fair Value | $ 6,630,954 | [2] |
| Percentage of investment portfolio | 3.11% | [2] |
| Investment, Identifier [Axis]: Transportation: Consumer First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Consumer Transportation [Member] | [1],[2] |
| Amortized Cost | $ 2,530,588 | [2],[4] |
| Fair Value | $ 2,479,475 | [2] |
| Percentage of investment portfolio | 1.16% | [2] |
| Investment, Identifier [Axis]: Triton Water Holdings, Inc First and Second Lien Debt SOFR Spread 3.25% Interest Rate 8.75% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:TritonWaterHoldingsIncMember | [1],[2] |
| Interest Rate | 8.75% | [2],[3] |
| Maturity Date | Mar. 31, 2028 | [2] |
| Par Amount/ Units | $ 1,994,911 | [2] |
| Amortized Cost | 1,844,832 | [2],[4] |
| Fair Value | $ 1,925,409 | [2] |
| Percentage of investment portfolio | 0.90% | [2] |
| Basis spread on variable rate | 3.25% | [2],[3] |
| Investment, Identifier [Axis]: Ultimate Software Group Inc (The) First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.78% Due 5/4/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:UltimateSoftwareGroupIncMember | [1],[2] |
| Interest Rate | 9.78% | [2],[3] |
| Maturity Date | May 04, 2026 | [2] |
| Par Amount/ Units | $ 2,000,000 | [2] |
| Amortized Cost | 1,950,782 | [2],[4] |
| Fair Value | $ 1,993,340 | [2] |
| Percentage of investment portfolio | 0.94% | [2] |
| Basis spread on variable rate | 4.50% | [2],[3] |
| Investment, Identifier [Axis]: Utilities: Electric First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Investment, Type [Extensible Enumeration] | Electric Utilities [Member] | [1],[2] |
| Amortized Cost | $ 3,016,096 | [2],[4] |
| Fair Value | $ 2,926,017 | [2] |
| Percentage of investment portfolio | 1.37% | [2] |
| Investment, Identifier [Axis]: Varsity Brands, Inc. Senior Secured Loans - First Lien SOFR Spread 5.00% Interest Rate 10.27% Due 12/15/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:VarsityBrandsIncMember | [1],[2] |
| Interest Rate | 10.27% | [2],[3] |
| Maturity Date | Dec. 15, 2026 | [2] |
| Par Amount/ Units | $ 1,992,494 | [2] |
| Amortized Cost | 1,890,983 | [2],[4] |
| Fair Value | $ 1,911,140 | [2] |
| Percentage of investment portfolio | 0.90% | [2] |
| Basis spread on variable rate | 5% | [2],[3] |
| Investment, Identifier [Axis]: Wellness Merger Sub, Inc. First and Second Lien Debt SOFR Spread 6.00% Due 6/30/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:WellnessMergerSubIncMember | [1],[2],[6] |
| Maturity Date | Jun. 30, 2026 | [2],[6] |
| Par Amount/ Units | $ 3,975,000 | [2],[6] |
| Amortized Cost | 3,736,500 | [2],[4],[6] |
| Fair Value | $ 3,778,237 | [2],[6] |
| Percentage of investment portfolio | 1.77% | [2],[6] |
| Basis spread on variable rate | 6% | [2],[3],[6] |
| Investment, Identifier [Axis]: Wrench Group LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.84% Due 4/30/2026 | ||
| Investments [Abstract] | ||
| Investment, Issuer Name [Extensible Enumeration] | klcc:WrenchGroupLLCMember | [1],[2] |
| Interest Rate | 9.84% | [2],[3] |
| Maturity Date | Apr. 30, 2026 | [2] |
| Par Amount/ Units | $ 3,416,192 | [2] |
| Amortized Cost | 3,371,026 | [2],[4] |
| Fair Value | $ 3,382,030 | [2] |
| Percentage of investment portfolio | 1.59% | [2] |
| Basis spread on variable rate | 4.50% | [2],[3] |
| [1]Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.[2]Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.[3]Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR (“L”), SOFR including SOFR adjustment, if any, (“S”), SONIA (“SN”), or alternate base rate (commonly based on the U.S. Prime Rate (“P”), unless otherwise noted) at the borrower’s option, which reset periodically based on the terms of the credit agreement and S loans are typically indexed to 6 month, 3 month or 1 month L or S rates. As of June 30, 2023, rates for the 6 month, 3 month and 1 month L are 5.76%, 5.55%, and 5.22%, respectively. As of June 30, 2023, 6 month, 3 month and 1 month S are 5.39%, 5.27% and 5.14%, respectively. | ||
Consolidated Schedule of Inve_2
| Consolidated Schedule of Investments (Parenthetical) | 6 Months Ended | |
| Jun. 30, 2023 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 118.82% | |
| Investment, Identifier [Axis]: AQA Acquisition Holding, Inc First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.44% Due 3/3/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.40% | [1] |
| Investment, Identifier [Axis]: ASP Blade Holdings, Inc. First and Second Lien Debt LIBOR Spread 4.00% Interest Rate 9.19% Due 10/13/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.44% | [1],[2] |
| Investment, Identifier [Axis]: AVSC Holding Corp. First and Second Lien Debt LIBOR Spread 3.25% Interest Rate 8.68% Due 3/3/2025 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.82% | [1] |
| Investment, Identifier [Axis]: Acrisure, LLC First and Second Lien Debt SOFR Spread 5.75% Interest Rate 10.82% Due 2/15/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.88% | [1] |
| Investment, Identifier [Axis]: Aerospace & Defense First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.58% | [1] |
| Investment, Identifier [Axis]: American Auto Auction Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.39% Due 12/30/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.87% | [1] |
| Investment, Identifier [Axis]: American Greetings Corporation First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.10% Due 4/06/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.40% | [1] |
| Investment, Identifier [Axis]: Amynta Agency Borrower Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.20% Due 2/28/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.82% | [1] |
| Investment, Identifier [Axis]: Apttus Corporation First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.52% Due 5/8/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.37% | [1] |
| Investment, Identifier [Axis]: Arcline FM Holdings, LLC First and Second Lien Debt LIBOR Spread 4.75% Interest Rate 10.25% Due 6/23/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.65% | [1] |
| Investment, Identifier [Axis]: Asurion, LLC First and Second Lien Debt Variable Interest Rate SOFR Spread 4.25% Interest Rate 9.45% Due 8/19/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.33% | [1] |
| Investment, Identifier [Axis]: Automotive First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 7.30% | [1] |
| Investment, Identifier [Axis]: BBB Industries LLC First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.45% Due 7/25/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.77% | [1] |
| Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.63% Due 6/11/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.93% | [1],[3] |
| Investment, Identifier [Axis]: BCPE Empire Holdings, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.84% Due 12/11/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.94% | [1] |
| Investment, Identifier [Axis]: Banking, Finance, Insurance & Real Estate First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 5.49% | [1] |
| Investment, Identifier [Axis]: Beverage, Food and Tobacco First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.90% | [1] |
| Investment, Identifier [Axis]: Brand Industrial Services, Inc. First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.40% Due 6/21/2024 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.46% | [1] |
| Investment, Identifier [Axis]: CDK Global, Inc First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.49% Due 7/6/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.70% | [1] |
| Investment, Identifier [Axis]: Capital Equipment First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 10.83% | [1] |
| Investment, Identifier [Axis]: Cardenas Markets, Inc. First and Second Lien Debt SOFR Spread 6.75% Interest Rate Due 8/31/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.04% | [1],[3] |
| Investment, Identifier [Axis]: Cash Equivalents | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.24% | [1] |
| Investment, Identifier [Axis]: Charlotte Buyer, Inc. First and Second Lien Debt SOFR Spread 5.25% Interest Rate 10.40% Due 2/11/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.28% | [1] |
| Investment, Identifier [Axis]: Chemicals, Plastics & Rubber First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 3.23% | [1] |
| Investment, Identifier [Axis]: Construction & Building First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.04% | [1] |
| Investment, Identifier [Axis]: Consumer Goods: Durable First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.90% | [1] |
| Investment, Identifier [Axis]: Consumer Goods: Non-Durable First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 7.33% | [1] |
| Investment, Identifier [Axis]: Containers, Packaging & Glass First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 4.10% | [1] |
| Investment, Identifier [Axis]: Crosby US Acquisition Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.92% Due 6/26/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.46% | [1],[2] |
| Investment, Identifier [Axis]: Cyanco Intermediate 2 Corp. First and Second Lien Debt SOFR Spread 4.75% Due 7/10/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.37% | [1],[3] |
| Investment, Identifier [Axis]: DTI Holdco, Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.80% Due 4/26/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.65% | [1] |
| Investment, Identifier [Axis]: Eagle Parent Corp. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.49% Due 4/2/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.37% | [1] |
| Investment, Identifier [Axis]: Edgewater Generation, L.L.C. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 8.97% Due 12/13/2025 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.30% | [1] |
| Investment, Identifier [Axis]: Endure Digital Inc First and Second Lien Debt LIBOR Spread 3.50% Interest Rate 8.79% Due 2/10/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.43% | [1] |
| Investment, Identifier [Axis]: Energy: Electricity First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 4.77% | [1] |
| Investment, Identifier [Axis]: Energy: Oil & Gas First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.78% | [1] |
| Investment, Identifier [Axis]: Environmental Industries First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.29% | [1] |
| Investment, Identifier [Axis]: Epic Crude Services, LP First and Second Lien Debt LIBOR Spread 5.00% Due 3/2/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.78% | [1],[3] |
| Investment, Identifier [Axis]: Eyemart Express LLC First and Second Lien Debt LIBOR Spread 3.00% Interest Rate 8.19% Due 8/31/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.74% | [1] |
| Investment, Identifier [Axis]: FCG Acquisitions Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.49% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.76% | [1] |
| Investment, Identifier [Axis]: Fertitta Entertainment, LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.15% Due 1/27/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.46% | [1] |
| Investment, Identifier [Axis]: First Brands Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.25% Due 3/30/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.46% | [1] |
| Investment, Identifier [Axis]: First Brands Group, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.26% Due 3/30/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.82% | [1] |
| Investment, Identifier [Axis]: First Student Bidco Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.00% Due 7/21/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.85% | [1] |
| Investment, Identifier [Axis]: First Student Bidco Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.34% Due 7/21/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.06% | [1] |
| Investment, Identifier [Axis]: First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 118.82% | [1] |
| Investment, Identifier [Axis]: First and Second Lien Debt LIBOR | ||
| Investments [Abstract] | ||
| Investment term of variable rates | 6 months | |
| Investment term of variable rates | 3 months | |
| Investment term of variable rates | 1 month | |
| Percentage of LIBOR rates | 5.76% | |
| Percentage of LIBOR rates | 5.55% | |
| Percentage of LIBOR rates | 5.22% | |
| Investment, Identifier [Axis]: First and Second Lien Debt SOFR | ||
| Investments [Abstract] | ||
| Investment term of variable rates | 6 months | |
| Investment term of variable rates | 3 months | |
| Investment term of variable rates | 1 month | |
| Percentage of SOFR rates | 5.39% | |
| Percentage of SOFR rates | 5.27% | |
| Percentage of SOFR rates | 5.14% | |
| Investment, Identifier [Axis]: Gloves Buyer, Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.22% Due 12/29/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.90% | [1] |
| Investment, Identifier [Axis]: Healthcare & Pharmaceuticals First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 7.24% | [1] |
| Investment, Identifier [Axis]: Heartland Dental, LLC First and Second Lien Debt SOFR Spread 5.00% Due 4/28/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.73% | [1],[3] |
| Investment, Identifier [Axis]: Help At Home, Inc First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.21% Due 10/29/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.14% | [1] |
| Investment, Identifier [Axis]: High Tech Industries First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 7.72% | [1] |
| Investment, Identifier [Axis]: Holley Purchaser, Inc. First and Second Lien Debt SOFR Spread 3.75% Due 11/17/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1% | [1],[2],[3] |
| Investment, Identifier [Axis]: Hotel, Gaming & Leisure First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 9.79% | [1] |
| Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Due 4/27/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | (0.01%) | [1],[4] |
| Investment, Identifier [Axis]: Imagefirst Holdings, LLC First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.39% Due 4/27/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.52% | [1] |
| Investment, Identifier [Axis]: Indy US Bidco, LLC First and Second Lien Debt SOFR Spread 6.25% Due 3/6/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.19% | [1],[3] |
| Investment, Identifier [Axis]: Investments And Cash Equivalents | ||
| Investments [Abstract] | ||
| Percentage of net assets | 119.06% | [1] |
| Investment, Identifier [Axis]: Investments Non Controlled Non Affiliated | ||
| Investments [Abstract] | ||
| Percentage of net assets | 118.82% | [1] |
| Investment, Identifier [Axis]: Investments Portfolio | ||
| Investments [Abstract] | ||
| Percentage of net assets | 118.82% | [1] |
| Investment, Identifier [Axis]: J-O Building Company LLC First and Second Lien Debt SOFR Spread 6.75% Interest Rate 11.92% Due 5/25/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 5.53% | [1],[5] |
| Investment, Identifier [Axis]: Journey Personal Care Corp. First and Second Lien Debt LIBOR Spread 4.25% Interest Rate 9.98% Due 3/1/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.41% | [1] |
| Investment, Identifier [Axis]: Kenan Advantage Group, Inc. First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.73% Due 3/24/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.40% | [1] |
| Investment, Identifier [Axis]: Kestrel Acquisition, LLC First and Second Lien Debt LIBOR Spread 4.25% Due 06/02/2025 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.07% | [1],[3] |
| Investment, Identifier [Axis]: Kronos Acquisition Holdings Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.38% Due 12/22/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.98% | [1] |
| Investment, Identifier [Axis]: LABL, Inc. First and Second Lien Debt SOFR Spread 5.10% Interest Rate 10.20% Due 10/29/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.72% | [1] |
| Investment, Identifier [Axis]: LSF11 Trinity Bidco, Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.65% Due 6/14/2030 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.93% | [1] |
| Investment, Identifier [Axis]: LSF11 a5 Holdco, LLC First and Second Lien Debt SOFR Spread 4.20% Interest Rate 9.45% Due 10/15/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.86% | [1] |
| Investment, Identifier [Axis]: LaserShip, Inc. First and Second Lien Debt - First Lien LIBOR Spread 4.50% Interest Rate 9.69% Due 5/07/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.39% | [1] |
| Investment, Identifier [Axis]: Liabilities in Excess of Other Assets | ||
| Investments [Abstract] | ||
| Percentage of net assets | (19.06%) | [1] |
| Investment, Identifier [Axis]: Lincoln Metal Shop, Inc. First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.38% Due 6/7/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 10.93% | [1],[5] |
| Investment, Identifier [Axis]: MED ParentCo LP First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.47% Due 8/31/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.87% | [1] |
| Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/12/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | (0.04%) | [1],[4],[5] |
| Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Due 6/12/2030 | ||
| Investments [Abstract] | ||
| Percentage of net assets | (0.02%) | [1],[4],[5] |
| Investment, Identifier [Axis]: MEI Buyer LLC First and Second Lien Debt SOFR Spread 6.50% Interest Rate 11.60% Due 6/30/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 6.93% | [1],[5] |
| Investment, Identifier [Axis]: MajorDrive Holdings IV, LLC First and Second Lien Debt SOFR Spread 5.50% Interest Rate 10.93% Due 6/1/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.73% | [1] |
| Investment, Identifier [Axis]: Media: Advertising, Printing & Publishing First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.28% | [1] |
| Investment, Identifier [Axis]: Media: Broadcasting & Subscription First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 4.01% | [1] |
| Investment, Identifier [Axis]: Mermaid BidCo Inc. First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.78% Due 12/22/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.93% | [1] |
| Investment, Identifier [Axis]: Michaels Companies, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.75% Due 4/15/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.41% | [1] |
| Investment, Identifier [Axis]: Mitnick Corporate Purchaser, Inc First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.90% Due 5/2/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.68% | [1] |
| Investment, Identifier [Axis]: NMN Holdings III Corp First and Second Lien Debt SOFR Spread 3.75% Interest Rate 8.97% Due 11/13/2025, First | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.72% | [1] |
| Investment, Identifier [Axis]: NMN Holdings III Corp First and Second Lien Debt SOFR Spread 3.75% Interest Rate 8.97% Due 11/13/2025, Second | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.16% | [1] |
| Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 9.66% Due 10/11/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.83% | [1] |
| Investment, Identifier [Axis]: Neptune Bidco US Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.00% Due 4/11/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.18% | [1] |
| Investment, Identifier [Axis]: Nielsen Consumer Inc. First and Second Lien Debt SOFR Spread 6.25% Interest Rate 11.35% Due 3/6/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.58% | [1] |
| Investment, Identifier [Axis]: Non-qualifying Assets | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.40% | [2] |
| Investment, Identifier [Axis]: OneDigital Borrower LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.45% Due 11/16/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.46% | [1] |
| Investment, Identifier [Axis]: Oscar AcquisitionCo, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.84% Due 4/29/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.14% | [1] |
| Investment, Identifier [Axis]: PAI Holdco, Inc. First and Second Lien Debt LIBOR Spread 3.75% Interest Rate 9.02% Due 10/28/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.65% | [1] |
| Investment, Identifier [Axis]: Parkway Generation, LLC First and Second Lien Debt SOFR Spread 4.75% Interest Rate 10.28% Due 2/18/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.45% | [1] |
| Investment, Identifier [Axis]: Particle Investments S.a.r.l First and Second Lien Debt LIBOR Spread 5.25% Interest Rate 10.75% Due 2/18/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.46% | [1],[2],[6] |
| Investment, Identifier [Axis]: Patriot Container Corp. First and Second Lien Debt SOFR Spread 3.75% Interest Rate 9.00% Due 3/20/2025 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.29% | [1] |
| Investment, Identifier [Axis]: Pediatric Associates Holding Company, LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.72% Due 12/29/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.45% | [1] |
| Investment, Identifier [Axis]: Physician Partners LLC First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.39% Due 12/23/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.44% | [1] |
| Investment, Identifier [Axis]: Planview Parent, Inc First and Second Lien Debt SOFR Spread 4.00% Interest Rate 9.14% Due 12/17/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.16% | [1] |
| Investment, Identifier [Axis]: Potomac Energy Center, LLC First and Second Lien Debt LIBOR Spread 6.00% Due 11/12/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 4.32% | [1],[3],[5] |
| Investment, Identifier [Axis]: Pretium PKG Holdings, Inc. First and Second Lien Debt LIBOR Spread 4.00% Interest Rate 9.51% Due 10/02/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.69% | [1] |
| Investment, Identifier [Axis]: Rand Parent, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.49% Due 3/17/2030 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.32% | [1] |
| Investment, Identifier [Axis]: Ranger Holdco Spe LLC First and Second Lien Debt 15.00% Interest Rate 15.00% Due 6/13/2030 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 8.28% | [1],[5] |
| Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.35% Due 12/22/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.91% | [1] |
| Investment, Identifier [Axis]: RelaDyne Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.10% Due 12/22/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.93% | [1] |
| Investment, Identifier [Axis]: Renaissance Holding Corp. First and Second Lien Debt SOFR Spread 4.75% Interest Rate 8.13% Due 4/05/2030 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.28% | [1] |
| Investment, Identifier [Axis]: Retail First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 2.59% | [1] |
| Investment, Identifier [Axis]: Rinchem Company, Inc. First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.59% Due 3/2/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.44% | [1] |
| Investment, Identifier [Axis]: Sabre GLBL Inc. First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.20% Due 6/30/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.25% | [1],[2] |
| Investment, Identifier [Axis]: Services: Business First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 25.42% | [1] |
| Investment, Identifier [Axis]: Services: Consumer First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.59% | [1] |
| Investment, Identifier [Axis]: Staples, Inc. First and Second Lien Debt LIBOR Spread 5.00% Interest Rate 10.30% Due 4/16/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.40% | [1] |
| Investment, Identifier [Axis]: Star US Bidco, LLC First and Second Lien Debt SOFR Spread 4.25% Interest Rate 9.35% Due 3/17/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.46% | [1],[2] |
| Investment, Identifier [Axis]: State Street Institutional Money Market Fund | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.24% | [1],[7] |
| Annualized period of yield | 7 days | |
| Percentage of annualized seven-day yield | 4.94% | |
| Investment, Identifier [Axis]: TGG TS Acquisition Company First and Second Lien Debt LIBOR Spread 6.50% Interest Rate 11.72% Due 12/14/2025 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.58% | [1] |
| Investment, Identifier [Axis]: Tank Holding Corp First and Second Lien Debt SOFR Spread 6.00% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | (0.03%) | [1],[4] |
| Investment, Identifier [Axis]: Tank Holding Corp First and Second Lien Debt SOFR Spread 6.00% Interest Rate 11.18% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.72% | [1] |
| Investment, Identifier [Axis]: Team Services Group First and Second Lien Debt LIBOR Spread 5.00% Interest Rate 10.27% Due 12/20/2027 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.45% | [1] |
| Investment, Identifier [Axis]: Titan Acquisition Limited First and Second Lien Debt SOFR Spread 3.00% Interest Rate 8.73% Due 3/28/2025 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.91% | [1],[8] |
| Investment, Identifier [Axis]: TouchTunes Interactive Networks, Inc First and Second Lien Debt SOFR Spread 5.00% Interest Rate 10.24% Due 4/2/2029 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.05% | [1] |
| Investment, Identifier [Axis]: Transportation: Cargo First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 3.11% | [1] |
| Investment, Identifier [Axis]: Transportation: Consumer First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.16% | [1] |
| Investment, Identifier [Axis]: Triton Water Holdings, Inc First and Second Lien Debt SOFR Spread 3.25% Interest Rate 8.75% Due 3/31/2028 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.90% | [1] |
| Investment, Identifier [Axis]: Ultimate Software Group Inc (The) First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.78% Due 5/4/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.94% | [1] |
| Investment, Identifier [Axis]: Utilities: Electric First and Second Lien Debt | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.37% | [1] |
| Investment, Identifier [Axis]: Varsity Brands, Inc. Senior Secured Loans - First Lien SOFR Spread 5.00% Interest Rate 10.27% Due 12/15/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 0.90% | [1] |
| Investment, Identifier [Axis]: Wellness Merger Sub, Inc. First and Second Lien Debt SOFR Spread 6.00% Due 6/30/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.77% | [1],[3] |
| Investment, Identifier [Axis]: Wrench Group LLC First and Second Lien Debt SOFR Spread 4.50% Interest Rate 9.84% Due 4/30/2026 | ||
| Investments [Abstract] | ||
| Percentage of net assets | 1.59% | [1] |
| [1]Unless otherwise indicated, issuers of debt investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated.[2]The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of June 30, 2023, non-qualifying assets totaled 2.4% of the Company’s total assets.[3]Position or portion thereof unsettled as of June 30, 2023.[4]Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative fair value is the result of the commitment being valued below par.[5]Investment valued using unobservable inputs (Level 3). See Note 4.[6]The issuer of this investment is domiciled in Luxembourg.[7]The annualized seven-day yield as of June 30, 2023 is 4.94%.[8]The issuer of this investment is domiciled in Canada. | ||
Organization
| Organization | 6 Months Ended |
| Jun. 30, 2023 | |
| Organization [Abstract] | |
| Organization | Note 1. Organization Organization Kennedy Lewis Capital Company, (the “Company” and “us”), is a Delaware statutory trust structured as an externally managed, diversified closed-end management investment company. The Company has elected to be treated as a business development company (a “BDC”) under the U.S. Investment Company Act of 1940, as amended (the “1940 Act”). In addition, the Company intends to elect to be treated as a regulated investment company (a “RIC”) for U.S. federal income tax purposes under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company is externally managed by Kennedy Lewis Capital Holdings LLC (the “Advisor”), a Delaware limited liability company that is registered with the U.S. Securities and Exchange Commission (the “SEC”) as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) pursuant to an investment advisory agreement between the Company and the Advisor (as amended, the “Advisory Agreement”). Kennedy Lewis Management LP (“Kennedy Lewis Management,” and together with Kennedy Lewis Capital Holdings LLC and its affiliates, “Kennedy Lewis”) is registered with the SEC as an investment adviser under the Advisers Act. The Advisor has entered into a resource sharing agreement (“Resource Sharing Agreement”) with Kennedy Lewis Management, pursuant to which Kennedy Lewis Management makes certain personnel and resources available to the Advisor to provide certain investment advisory services to the Company. Kennedy Lewis Management serves as the Company’s administrator (in such capacity, the “Administrator”) pursuant to an administration agreement (the “Administration Agreement”). The Administrator has retained State Street Bank and Trust Company (“State Street”), a Massachusetts trust company, as a sub-administrator to perform any or all of its obligations under the Administration Agreement. The Company has been established to invest primarily in debt or other debt-like securities across the capital structure of middle market companies located in the United States and, selectively, in other North American countries and in Europe, with the ability to consider investments focused on other geographic markets. The Company generally defines middle market companies as those having enterprise values between $300 million and $3 billion. The Company’s investment objectives are to maximize the total return to its holders of common shares of beneficial interest, par value $0.01 (“Common Shares”) (each a “shareholder”) in the form of current income and, to a lesser extent, capital appreciation. The Company employs a strategy to provide capital to middle market companies, with a focus on direct originations in private, first lien, senior secured, performing credits. The Company expects to generate returns primarily from interest income and fees from senior secured loans, with some capital appreciation through nominal equity co-investments. Subject to the supervision of the Company’s Board of Trustees (the “Board”), a majority of which are trustees who are not “interested persons” as defined in Section 2(a)(19) of the 1940 Act (“Independent Trustees”), the Advisor manages the Company’s day-to-day operations and provides the Company with investment advisory and management services. Fiscal Year End The Company was formed on February 10, 2022, and commenced operations on February 1, 2023. Its fiscal year ends on December 31. |
Significant Accounting Policies
| Significant Accounting Policies | 6 Months Ended |
| Jun. 30, 2023 | |
| Significant Accounting Policies [Abstract] | |
| Significant Accounting Policies | Note 2. Significant Accounting Policies Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Company is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies. These consolidated financial statements reflect adjustments that in the opinion of management are necessary for the fair statement of the consolidated financial statements presented herein. Prior Period Adjustment During the quarter ended March 31, 2023, a misstatement was identified in the classification between Common Shares and Additional paid in capital in the December 31, 2022, Statement of Assets and Liabilities. The Company incorrectly disclosed the par value of Common Shares as $0.001 instead of $0.01 as of December 31, 2022, and calculated the par value of 500 Common Shares issued for the period ended December 31, 2022, using $0.001. In accordance with ASC Topic 250, Accounting Changes and Error Corrections, the Company evaluated the materiality of the misstatement from both quantitative and qualitative perspectives and concluded that it was immaterial to the prior period. Consequently, the Company revised the historical financial information presented herein. The immaterial restatement resulted in the following changes. For the December 31, 2022, Statement of Assets and Liabilities, the par value of Common Shares has been changed from $0.001 to $0.01, the Common Shares line item has been changed from $0 to $5 and the Additional paid in capital line item has been changed from $10,000 to $9,995. This immaterial restatement had no impact on the Company’s Consolidated Statements of Operations for the period ended December 31, 2022. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Consolidation In accordance with U.S. GAAP guidance on consolidation, the Company will generally not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company’s wholly-owned subsidiary, KLCC SPV GS1 LLC, in its consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. Cash, Cash Equivalents and Restricted Cash Cash consists of deposits held at a custodian bank. Cash equivalents consists of money market investments with original maturities of three months that are readily convertible to cash and are classified as Level 1 investments. Cash and cash equivalents are held at major financial institutions and, at times, may exceed the insured limits under applicable law. Cash and cash equivalents are carried at cost, which approximates fair value. As of June 30, 2023, we had $311,333 of restricted cash related to collateral held for the Secured Credit Facility (as defined below) and presented in the statements of assets and liabilities. This is further discussed in Note 5. Realized Gains/Losses Investment transactions and the related revenue and expenses are recorded on a trade-date basis. Realized gains or losses are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the cost basis of the investment using the specific identification method. The change in unrealized appreciation or depreciation reflects the difference between the fair value of the investments and the cost basis of the investments. Interest Income Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations of premiums. The amortized cost of debt investments represents the original cost, including fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income. Fee Income In the general course of its business, the Company receives certain fees, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as fee income in investment income when earned. PIK Income Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK represents accrued interest that is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest income. Because the Company intends to elect to be treated as a RIC for U.S. federal income purposes under Subchapter M of the Code, this non-cash source of income must be paid out to shareholders in the form of distributions, even though the Company has not yet collected the cash. Deferred Financing Costs Deferred financing costs represent fees and other direct costs incurred in connection with the Company’s borrowings. These amounts are capitalized and amortized over the contractual term of the borrowing. Receivable for Investments Sold and Payable for Investments Purchased Receivable for investments sold and payable for investments purchased represent unsettled investments. Non-Accrual Loans Loans or debt securities are placed on non-accrual status when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest are paid and, in management’s judgment, principal and interest payments are likely to remain current. The Company may make exceptions to this treatment if a loan has sufficient collateral value and is in the process of collection. As of June 30, 2023, there were no loans placed on non-accrual status. Valuation of Portfolio Investments In accordance with Rule 2a-5 under the 1940 Act, the Board has designated the Advisor as the Company’s “Valuation Designee”. The Advisor has established a Valuation Committee that is responsible for determining in good faith the fair value of the Company’s investments in instances where there is no readily available market quotation. A readily available market quotation is not expected to exist for most of the investments in the Company’s portfolio, and the Company values these portfolio investments at fair value as determined in good faith by the Valuation Designee. Investments for which market quotations are readily available may be priced by independent pricing services. The Company has retained an external, independent valuation firm to provide data and valuation analyses on the Company’s portfolio companies. The Advisor values the Company’s investments based on the type of financial instrument as outlined below: Securities that are listed on a securities, commodities or futures exchange or market (including such securities when traded in the after‐hours market), will be valued (i) at their last sales prices on the date of determination on the primary exchange on which such securities were traded on such date, or (ii) at their last sales prices on the consolidated tape if such securities on the primary exchange on which such securities were traded on such date were reported on the consolidated tape, or (iii) in the event that the date of determination is not a date upon which an exchange was open for trading, on the date on which such exchange was previously open but not more than 10 days prior to the date of determination. Securities that are not listed on an exchange but are traded over‐the‐counter will be valued at representative “bid” quotations if held long and representative “asked” quotations if held short, unless included in the NASDAQ National Market System, in which case they will be valued based upon their last sales prices (if such prices are available); provided that if the last sales price of a security does not fall between the last “bid” and “asked” price for such security on such date, the Advisor will value such security at the mean between the last “bid” and “asked” price for such security on such date. Securities not denominated in U.S. dollars will be translated into U.S. dollars at prevailing exchange rates as the Advisor may reasonably determine. All other investments will be assigned such value as the Advisor may reasonably determine. When available, quotations from brokers or pricing services will be considered in the valuation process. For example, the Advisor will utilize indicative prices from brokers or pricing services to determine the fair value of bonds and bank debt and may internally validate the quotes obtained or utilize the mean of the bid (if long) and ask (if short) quotes obtained. For these quotes to be considered for valuation purposes they must be sent directly from the brokers to the Advisor. If quotations are not readily available through pricing services or brokers for a security, financial instrument or other property, the Advisor will determine its value in such manner as the Advisor, in its sole discretion, reasonably determines. This is generally achieved by engaging a third‐party valuation firm to value such securities and provide a range of values for each position. The Advisor will then mark the position within that range. The determination of fair value generally considers factors such as comparisons to public companies, comparable transactions, markets in which a company does business, the nature and realizable value of any collateral, discounted cash flows, earnings and ability to make payments, and market yields. If an event such as a purchase, sale, or public offering occurs, the Advisor may consider the pricing indicated by such event to corroborate its internal valuation. FASB ASC Topic 820: Fair Value Measurements and Disclosures (“ASC 820”) specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC 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 of information used in the valuation. The Company classifies the inputs used to measure fair values into the following hierarchy: • Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible to the Company at the measurement date. • Level 2—Valuations are based on similar assets or liabilities in active markets, or quoted prices identical or similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable. • Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuation techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation. 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 Advisor’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and it considers factors specific to the investment. Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Advisor applies the valuation policy approved by the Board that is consistent with ASC 820. Consistent with the valuation policy, the Advisor evaluates the source of inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When a security is valued based on prices provided by reputable dealers or pricing services (that is, broker quotes), the Advisor subjects those prices to various additional criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Advisor reviews pricing provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Some additional factors considered include the number of prices obtained as well as an assessment as to their quality, such as the depth of the relevant market relative to the size of the Company’s position. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment, including the impact of changes in broader market indices and credit spreads, and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein. Organization and Offering Costs Organizational costs to establish the Company are charged to expense as incurred. These expenses consist primarily of legal fees and other costs of organizing the Company. Offering costs in connection with the offering of Common Shares of the Company are capitalized as a deferred charge and amortized to expense on a straight-line basis over 12 months. Initial offering costs were amortized beginning February 1, 2023, the commencement of operations. Under the Advisory Agreement and the Administration Agreement, the Company, either directly or through reimbursements to the Advisor or its affiliates, is responsible for its organization and offering costs. For the three and six months ended June 30, 2023, the Advisor and its affiliates incurred organization and offering costs of $0 and $328,240, respectively, on behalf of the Company. For the three months and the period from February 10, 2022 (date of inception) to June 30, 2022, the Advisor and its affiliates incurred organization and offering costs of $64,948 and $97,635, respectively, on behalf of the Company. As of June 30, 2023, the total amount owed to the Company from the Advisor pursuant to the Expense Support and Conditional Reimbursement Agreement is included in Due from Advisor in the Statement of Assets and Liabilities. As of June 30, 2023, the total amount owed to the Advisor and its affiliates for expenses incurred on behalf of the Company is included in Due to Advisor and affiliates in the Statement of Assets and Liabilities. Income Taxes The Company intends to elect to be treated as a RIC. So long as the Company maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its shareholders as dividends. Rather, any tax liability related to income earned and distributed would represent obligations of the Company’s investors and would not be reflected in the consolidated financial statements of the Company. The Company 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. Tax positions not deemed to meet the “more likely than not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof. The Company did not record any tax provision in the current period. To qualify for and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses. In addition, based on the excise tax distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of (1) 98% of its ordinary income for the calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in prior years. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed. |
Related Party Transactions
| Related Party Transactions | 6 Months Ended |
| Jun. 30, 2023 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 3. Related Party Transactions Administration Agreement Under the Administration Agreement, the Administrator furnishes the Company with office facilities and equipment and provides the Company with clerical, bookkeeping, recordkeeping and other administrative services at such facilities. The Administrator also performs, or oversees the performance of, the Company’s required administrative services, which include responsibility for the financial and other records that the Company is required to maintain and preparing reports to its shareholders and reports and other materials filed with the SEC. In addition, the Administrator assists the Company in determining and publishing its net asset value, oversees the preparation and filing of its tax returns and the printing and dissemination of reports and other materials to its shareholders, and generally oversees the payment of its expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, the Administrator also provides managerial assistance on the Company’s behalf to those portfolio companies that have accepted the Company’s offer to provide such assistance. The Administrator, has retained State Street as a sub-administrator to perform any or all of its obligations under the Administration Agreement. Payments under the Administration Agreement are equal to an amount based upon the Company’s allocable portion (subject to the review of the Board) of the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and the Company’s allocable portion of the cost of the Company’s Chief Financial Officer and Chief Compliance Officer and his or her staff as well as State Street’s fees. Advisory Agreement Subject to the overall supervision of the Board and in accordance with the 1940 Act, the Advisor manages the Company’s day-to-day operations and provides investment advisory services to the Company. Under the terms of the Advisory Agreement, the Advisor: • determines the composition of the Company’s portfolio, the nature and timing of the changes to its portfolio and the manner of implementing such changes; • identifies, evaluates and negotiates the structure of the investments the Company makes; • executes, closes, services and monitors the investments the Company makes; • determines the securities and other assets that the Company purchases, retains or sells; • performs due diligence on prospective portfolio companies; and • provides the Company with such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the investment of its funds. Under the Advisory Agreement, the Company pays the Advisor fees for investment management services consisting of a base management fee (the “Base Management Fee”) and an incentive fee (the “Incentive Fee”). Base Management Fee The Company pays the Advisor a management fee equal to an annual rate of 1.25% of the average of the Company’s net assets, at the end of the two most recently completed quarters. Subsequent to any initial public offering (“IPO”) or other listing of the Common Shares on a national securities exchange (“Exchange Listing”), the Company will pay the Advisor a base management fee calculated at an annual rate of 1.25% of the Company’s average gross assets at the end of the two most recently completed quarters. The management fee is payable quarterly in arrears. For the three and six months ended June 30, 2023, the management fee was $655,300 and $866,349, respectively. At the Advisor’s discretion, $0 and $128,140 of the management fee was waived during the three months and six months ended June 30, 2023, respectively. For the three and six months ended June 30, 2023, the management fee, net of waiver was $655,300 and $738,209, respectively. 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. A portion of the Incentive Fee is based on a percentage of income and a portion is based on a percentage of capital gains, each as described below. Income-Based Incentive Fee. The Company pays the Advisor an Income Based Incentive Fee quarterly in arrears with respect to the Company’s 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 Pre-Incentive Fee Net Investment Income Returns do not exceed the hurdle rate of 1.25% per quarter (5.0% annualized); • 100% of the dollar amount of 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 until the Advisor has received 12.5% of the total Pre-Incentive Fee Net Investment Income Returns for that calendar quarter. The Company refers to this portion of the Pre-Incentive Fee Net Investment Income Returns (which exceeds the hurdle rate) as the “catch-up.” This “catch-up” is meant to provide the Advisor an Incentive Fee of 12.5% on all Pre-Incentive Fee Net Investment Income Returns when that amount equals 1.43% in a calendar quarter (5.72% annualized), which is the rate at which the catch-up is achieved. • 12.5% of the dollar amount of all Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.43%. These calculations are prorated for any period of less than three months, including the first quarter the Company commenced operations, and are adjusted for any share issuances or repurchases during the relevant quarter. For the three and six months ended June 30, 2023, no income-based incentive fees were paid or accrued. Capital Gains Incentive Fee. In accordance with GAAP, the Company accrues a hypothetical capital gains incentive fee based upon the cumulative realized capital gains and realized capital losses and the cumulative unrealized capital appreciation and unrealized capital depreciation on investments held at the end of each period. Actual amounts paid to the Investment Adviser are consistent with the Investment Management Agreement and are based only on actual realized capital gains computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis from inception through the end of each calendar year as if the entire portfolio was sold at fair value. For the six months ended June 30, 2023, the Company accrued capital gains incentive fees of $317,514, of which none was currently payable on such date under the Advisory Agreement. Co-investment Exemptive Relief As a BDC, the Company is subject to certain regulatory restrictions in making its investments. For example, BDCs generally are not permitted to co-invest with certain affiliated entities in transactions originated by the BDC or its affiliates in the absence of an exemptive order from the SEC. However, BDCs are permitted to, and may, simultaneously co-invest in transactions where price and quantity are the only negotiated terms. On March 6, 2023, the SEC issued an order (the “Order”) granting the Company’s application for exemptive relief to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Advisor or its affiliates. Under the terms of the Order, in order for the Company to participate in a co-investment transaction, a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s Independent Trustees must conclude that (i) the terms of the proposed transaction, including the consideration to be paid, are reasonable and fair to the Company and its shareholders and do not involve overreaching with respect of the Company or its shareholders on the part of any person concerned, and (ii) the proposed transaction is consistent with the interests of the Company’s shareholders and is consistent with the Company’s investment objectives and strategies and certain criteria established by the Board. Expense Support and Conditional Reimbursement Agreement The Company has entered into an expense support and conditional reimbursement agreement (as amended, the “Expense Support Agreement”) with the Advisor, pursuant to which the Advisor has contractually agreed to pay Other Operating Expenses (as defined below) of the Company on the Company’s behalf (each such payment, a “Required Expense Payment” such that Other Operating Expenses of the Company do not exceed 1.00% (on an annualized basis) of the Company’s applicable quarter-end net asset value. “Other Operating Expenses” include the Company’s organizational and offering expenses (including the Company’s allocable portion of compensation and overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement, excluding Base Management Fees and Incentive Fees owed to the Advisor and any interest expenses owed by the Company. At such times as the Advisor determines, the Advisor may elect to pay certain additional expenses of the Company on the Company’s behalf (each such payment, a “Voluntary Expense Payment” and together with a Required Expense Payment, the “Expense Payments”). In making a Voluntary Expense Payment, the Advisor will designate, as it deems necessary or advisable, what type of expense it is paying (including, whether it is paying organizational or offering expenses). Following any calendar quarter in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the Company’s shareholders based on distributions declared with respect to record dates occurring in such calendar quarter (the amount of such excess referred to in the Expense Support Agreement as “Excess Operating Funds”), the Company will pay such Excess Operating Funds, or a portion thereof, to the Advisor until such time as all Expense Payments made by the Advisor to the Company within three years prior to the last business day of such calendar quarter have been reimbursed. Any payments required to be made by the Company under the Expense Support Agreement are referred to as a “Reimbursement Payment.” “Available Operating Funds” means the sum of (i) the Company’s net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) the Company’s net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to the Company 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 the Advisor to the Company within three years prior to the last business day of such calendar quarter that have not been previously reimbursed by the Company to the Advisor; provided that the Advisor may waive its right to receive all or a portion of any Reimbursement Payment in any particular calendar quarter, in which case such waived amount will remain unreimbursed Expense Payments reimbursable in future quarters pursuant to the terms of the Expense Support Agreement. No Reimbursement Payment for any quarter shall be made if: (1) the Effective Rate of Distributions Per Share (as defined below) declared by the Company at the time of such Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Reimbursement Payment relates, (2) the Company’s Operating Expense Ratio 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 relate, or (3) the Company’s Other Operating Expenses at the time of such Reimbursement Payment exceeds 1.00% of the Company’s applicable quarter-end net asset value. The Effective Rate of Distributions Per Share means the annualized rate, based on a 365-day year, of regular cash distributions per share exclusive of returns of capital and declared special dividends or special distributions, if any. The Company’s Operating Expense Ratio is calculated by dividing Operating Expenses (i.e. the Company’s operating costs and expenses incurred, as determined in accordance with generally accepted accounting principles), less organizational and offering expenses, Base Management Fees and Incentive Fees owed to the Advisor, shareholder servicing and/or distribution fees, and interest expense, by the Company’s net assets. The Company’s obligation to make a Reimbursement Payment will automatically become a liability of the Company on the last business day of the applicable calendar quarter, except to the extent the Advisor has waived its right to receive such payment for the applicable quarter. The Reimbursement Payment for any calendar quarter will be paid by the Company to the Advisor in any combination of cash or other immediately available funds as promptly as possible following such calendar quarter and in no event later than 45 days after the end of such calendar quarter. All Reimbursement Payments shall be deemed to relate to the earliest unreimbursed Expense Payments made by the Advisor to the Company within three years prior to the last business day of the calendar quarter in which such Reimbursement Payments obligation is accrued. For the three and six months ended June 30, 2023, the Advisor provided $691,769 of expense support. The Company did not have any obligation to make a Reimbursement Payment as of June 30, 2023 or December 31, 2022 under the Expense Support and Conditional Reimbursement Agreement. The cumulative amount incurred from formation that is subject to future potential reimbursement is $1,288,330. Either the Company or the Advisor may terminate the Expense Support Agreement at any time, with or without notice, without the payment of any penalty, provided that any Expense Payments that have not been reimbursed by us to the Advisor will remain the obligation of the Company following any such termination, subject to the terms of the Expense Support Agreement. |
Investments and Fair Value Meas
| Investments and Fair Value Measurements | 6 Months Ended |
| Jun. 30, 2023 | |
| Investments and Fair Value Measurements [Abstract] | |
| Investments and Fair Value Measurements | Note 4. Investments and Fair Value Measurements The composition of the Company’s investment portfolio at cost and fair value as of June 30, 2023 was as follows: June 30, 2023 Amortized Cost Fair value % of Total Investments at Fair Value First lien debt $ 235,949,385 $ 235,635,044 93.03 % Second lien debt 15,004,322 17,655,000 6.97 % Total investments $ 250,953,707 $ 253,290,044 100.00 % The industry composition of investments based on fair value as of June 30, 2023 was as follows: June 30, 2023 Services: Business 21.39 % Capital Equipment 9.11 Hotel, Gaming & Leisure 8.24 High Tech Industries 6.50 Consumer Goods: Non-Durable 6.17 Automotive 6.14 Healthcare & Pharmaceuticals 6.08 Banking, Finance, Insurance & Real Estate 4.62 Energy: Electricity 4.02 Containers, Packaging & Glass 3.45 Media: Broadcasting & Subscription 3.38 Chemicals, Plastics & Rubber 2.72 Transportation: Cargo 2.62 Retail 2.18 Aerospace & Defense 2.18 Media: Advertising, Printing & Publishing 1.92 Construction & Building 1.72 Energy: Oil & Gas 1.50 Services: Consumer 1.33 Utilities: Electric 1.16 Environmental Industries 1.08 Transportation: Consumer 0.98 Beverage, Food and Tobacco 0.76 Consumer Goods: Durable 0.75 Total 100.00 % The geographic composition of investments at cost and fair value was as follows: June 30, 2023 Amortized Cost Fair Value % of Total Investments at Fair Value Fair Value as % of Net Assets United States $ 248,070,364 $ 250,373,354 98.85 % 117.45 % Canada 1,894,865 1,938,928 0.76 0.91 Luxembourg 988,478 977,762 0.39 0.46 Total $ 250,953,707 $ 253,290,044 100.00 % 118.82 % The following table presents the fair value hierarchy of the Company’s investment portfolio as of June 30, 2023: June 30, 2023 Assets Level 1 Level 2 Level 3 Total First Lien Debt $ — $ 176,674,978 $ 58,960,066 $ 235,635,044 Second Lien Debt — — 17,655,000 17,655,000 Total investments $ — $ 176,674,978 $ 76,615,066 $ 253,290,044 The following table presents changes in the fair value of investments for which Level 3 inputs were used to determine the fair value for the three and six months ended June 30, 2023, respectively: First Lien Debt Second Lien Debt Total Balance as of April 1, 2023 $ — $ — $ — Purchases of investments 59,279,599 13,500,000 72,779,599 Proceeds from principal pre-payments and sales of investments (325,927 ) — (325,927 ) Payment-in-kind — 1,500,000 1,500,000 Net accretion of discount on investments 15,365 4,322 19,687 Net change in unrealized appreciation/depreciation (8,971 ) 2,650,678 2,641,707 Transfers into Level 3 — — — Transfers out of Level 3 — — — Balance as of June 30, 2023 $ 58,960,066 $ 17,655,000 $ 76,615,066 Net change in unrealized appreciation (depreciation) on Level 3 investments still held at the end of the period $ (8,971 ) $ 2,650,678 $ 2,641,707 First Lien Debt Second Lien Debt Total Balance as of February 1, 2023 (commencement of operations) $ — $ — $ — Purchases of investments 59,279,599 13,500,000 72,779,599 Proceeds from principal pre-payments and sales of investments (325,927 ) — (325,927 ) Payment-in-kind — 1,500,000 1,500,000 Net accretion of discount on investments 15,365 4,322 19,687 Net change in unrealized appreciation/depreciation (8,971 ) 2,650,678 2,641,707 Transfers into Level 3 — — — Transfers out of Level 3 — — — Balance as of June 30, 2023 $ 58,960,066 $ 17,655,000 $ 76,615,066 Net change in unrealized appreciation (depreciation) on Level 3 investments still held at the end of the period $ (8,971 ) $ 2,650,678 $ 2,641,707 Level 2 investments are valued using prices obtained from pricing services. The Company had no transfers between levels during the three months ended June 30, 2023 and the period from February 1, 2023 (commencement of operations) to June 30, 2023. The valuation techniques and significant unobservable inputs used in the valuation of Level 3 investments as of June 30, 2023 were as follows: Investment Type Fair Value Valuation Technique Unobservable Input Range Weighted Average (3) Second Lien Debt $ 17,655,000 Discounted cash flow Discount rate (1) 15% 15% First Lien Debt 58,960,066 Transactional Value (2) N/A N/A N/A 76,615,066 (1) Significant increases in discount rates would result in a significantly lower fair value measurement. (2) Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date. (3) Unobservable inputs were weighted by the relative fair value of investments. |
Borrowings
| Borrowings | 6 Months Ended |
| Jun. 30, 2023 | |
| Borrowings [Abstract] | |
| Borrowings | Note 5. Borrowings On April 20, 2023, KLCC SPV GS1 LLC, a Delaware limited liability company and newly formed subsidiary of the Company, entered into a credit agreement with Goldman Sachs Bank USA (the “Secured Credit Facility”). The maximum principal amount of the Secured Credit Facility as of June 30, 2023 is $300 million, which can be drawn in U.S. dollars subject to certain conditions. The maturity date of the Secured Credit Facility is May 1, 2028. Amounts drawn under the Secured Credit Facility will bear interest at Term SOFR plus a margin. Advances used to finance the purchase or origination of loans under the Secured Credit Facility initially bear interest at Term SOFR plus a spread of (i) if the percentage of loans that are broadly syndicated loans (“BSL”) is 60% or higher on each day during such interest period, 3.25%, (ii) if the percentage of loans that are BSL is less than 60% during any day during such interest period but higher than 30% on each day during such interest period, 3.35% and (iii) in relation to either (A) any period in the 18 months following the closing of the Secured Credit Facility during which the percentage of loans that are BSL is less than 30% on any day during such interest period or (B) any interest period that occurs more than 18 months following the closing of the Secured Credit Facility, 3.50%. The Secured Credit Facility contains customary covenants, including certain limitations on the activities of KLCC SPV GS1, including limitations on incurrence of incremental indebtedness, and customary events of default. The Secured Credit Facility is secured by a perfected first priority security interest in the assets of KLCC SPV GS1 and on any payments received by KLCC SPV GS1 in respect of those assets. Assets pledged to the lenders under the Secured Credit Facility will not be available to pay the debts of the Company. As of June 30, 2023, the Company was in compliance with all covenants and other requirements. The estimated fair value of the Secured Credit Facility approximated the principal value of $13,500,000 on the consolidated statement of assets and liabilities as of June 30, 2023 and is categorized as Level III under the ASC 820 fair value hierarchy. Borrowings of KLCC SPV GS1 are considered borrowings of the Company for purposes of complying with the asset coverage requirements under the 1940 Act. Debt obligations consisted of the following as of June 30, 2023: Total Debt Outstanding $ 13,500,000 Average Debt Outstanding $ 1,616,667 Effective Interest Rate 8.49 % Weighted Average Interest Rate 8.49 % Asset Coverage Ratio 1,679 % For the three and six months ended June 30, 2023, the components of interest expense related to the Secured Credit Facility were as follows: Three Months Ended June 30, 2023 For the Six Months Ended June 30, 2023 Borrowing interest expense $ 22,875 $ 22,875 Unused facility fee 505,639 505,639 Amortization of deferred financing costs 133,881 133,881 Total interest and debt financing expense $ 662,395 $ 662,395 |
Commitments and Contingencies
| Commitments and Contingencies | 6 Months Ended |
| Jun. 30, 2023 | |
| Commitments and Contingencies [Abstract] | |
| Commitments and Contingencies | Note 6: Commitments and Contingencies In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. As of June 30, 2023, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications. From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of June 30, 2023, management is not aware of any pending or threatened material litigation. The Company may, from time to time, enter into commitments to fund investments. As of June 30, 2023, the Company had the following outstanding commitments to fund investments in current portfolio companies: June 30, 2023 Unfunded delayed draw term loan commitments $ 4,713,665 Unfunded revolver obligations 2,650,602 Total Unfunded $ 7,364,267 |
Net Assets
| Net Assets | 6 Months Ended |
| Jun. 30, 2023 | |
| Net Assets [Abstract] | |
| Net Assets | Note 7. Net Assets Subscriptions The Company is a non-exchange traded, perpetual-life BDC, which is a BDC whose shares are not listed for trading on a stock exchange or other securities market. We offer on a continuous basis our Common Shares (the “Private Offering”), pursuant to the terms set forth in the Company’s Confidential Private Placement Memorandum and subscription agreements that we enter into with investors in connection with the Private Offering (each, a “Subscription Agreement”). Although the Common Shares in the Private Offering are being sold under the exemption provided by Section 4(a)(2) of the Securities Act of 1933 (the “Securities Act”) only to investors that are “accredited investors” in accordance with Rule 506 of Regulation D promulgated under the Securities Act, and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made, there can be no assurance that we will not need to suspend our continuous offering for various reasons, including but not limited to regulatory review from the SEC and various state regulators, to the extent applicable. The Company seeks to raise equity capital through private placements on a continuous basis through one or more closings (“Closings”) at which the Company will accept funds from investors in connection with such investors’ purchases of Common Shares (the first such Closing the “Initial Closing” and each subsequent closing a “Subsequent Closing”). The Initial Closing occurred on February 1, 2023 (the “Initial Closing Date”). Each Subsequent Closing will generally occur on a monthly basis on the last calendar day of the month or on a date as determined by the Company or the Advisor in its sole discretion. Each investor is required to fully fund its subscription amount by wire to the Company’s bank account on or before the last business day of the month of its respective Closing. Any shareholder that seeks to purchase additional Common Shares will be required to enter into an additional, short form Subscription Agreement with the Company (a “Short Form Subscription Agreement”). For the avoidance of doubt, each shareholder that enters into a Short Form Subscription Agreement will be required to fully fund its additional subscription amount by wire to the Company’s bank account on or before the last business day of the month of its respective Closing. In exchange for its subscription amount, each investor will receive an amount of Common Shares equal to its subscription amount divided by the applicable price per Common Share (“Price Per Common Share”). The Price Per Common Share shall mean the Company’s then-calculated net asset value per Share determined by the Company as of a date within 48 hours of the Closing Date, which will be determined in accordance with the limitations under Section 23 of the 1940 Act. The Company may set the per-Common Share price above the then-calculated net asset value per Common Share based on a variety of factors, including the total amount of the Company’s organizational and other expenses. The minimum investment for any Subscription Agreement and any Short Form Subscription Agreement is $10,000. The Company is authorized to issue an unlimited number of Common Shares. On December 23, 2022, the Advisor purchased 500 Common Shares of the Company for aggregate proceeds of $10,000. On February 1, 2023, Kennedy Lewis Management purchased 40,100 Common Shares of the Company for aggregate proceeds of $802,000. On May 1, 2023, a related party purchased 62,877 Common Shares of the Company for aggregate proceeds of $1,250,000. The following table summarizes the total Common Shares issued and proceeds received during the period from the Company’s inception to June 30, 2023: Date of Closing Common Shares Issued NAV per Common Share Subscription Proceeds Received June 1, 2023 3,579 $ 19.55 $ 19.56 $ 70,000 May 1, 2023 62,877 $ 19.87 $ 19.88 $ 1,250,000 March 31, 2023 6,314,993 $ 19.78 $ 19.81 $ 125,100,000 March 1, 2023 50,251 $ 19.80 $ 19.90 $ 1,000,000 February 1, 2023 4,037,850 $ 20.00 $ 20.00 $ 80,757,000 December 31, 2022 500 $ 20.00 $ 20.00 $ 10,000 Totals 10,470,050 $ 208,187,000 Repurchases No investor has the right to require the Company to redeem his, her or its Common Shares. Subject to market conditions and the Advisor’s commercially reasonable judgment, the Company intends from time to time to offer to repurchase Common Shares pursuant to written tenders by shareholders as further described herein. The Advisor expects that, generally, it will cause the Company to offer to repurchase Common Shares from shareholders quarterly, with such repurchases to occur as of each March 31, June 30, September 30 and December 31 or the next business day, as applicable. Subject to market conditions, the Advisor will in its commercially reasonable judgment cause the Company to repurchase Common Shares from shareholders on a quarterly basis in an amount not to exceed 5.0% of the Company’s net asset value; provided, however, that the Advisor, subject to the Board’s discretion and approval, shall cause the Company to repurchase Common Shares from shareholders in an amount at least equal to 10.0% of the Company’s net asset value in respect of the fourth calendar quarter of each of the eighth and tenth calendar years following the Initial Closing Date. The Advisor may in its commercially reasonable judgment seek to provide liquidity to shareholders through one or more methods, including conducting periodic tender offers or winding down the Company. Prior to any Liquidity Event (as defined below), and subject to market conditions and the Advisor’s commercially reasonable judgment, the Company intends to offer quarterly repurchases, with the first quarterly repurchase offer having commenced on the first business day of the second quarter of 2023. A “Liquidity Event” is defined as including (1) an IPO or Exchange Listing, or (2) a Sale Transaction. A “Sale Transaction” means (a) the sale of all or substantially all of the Company’s assets to, or other liquidity event with, another entity or (b) a transaction or series of transactions, including by way of merger, consolidation, recapitalization, reorganization, or sale of stock in each case for consideration of either cash and/or publicly listed securities of the acquirer. Thereafter, each repurchase offer will generally commence approximately 90 days prior to the applicable quarter-end repurchase date. With respect to any such repurchase offer, investors tendering shares must do so by a date specified in the notice describing the terms of the repurchase offer. There is no minimum portion of a shareholder’s Common Shares which must be repurchased in any repurchase offer. The Company has no obligation to repurchase Common Shares at any time; any such repurchases will only be made at such times, in such amounts and on such terms as may be determined by the Advisor, in its sole discretion. In determining whether the Company should offer to repurchase Common Shares, the Advisor will consider the timing of such an offer, as well as a variety of operational, business and economic factors. If a quarterly repurchase offer is oversubscribed by shareholders who tender Common Shares, the Company will repurchase a pro rata portion by value of the Common Shares tendered by each shareholder, extend the repurchase offer, or take any other action with respect to the repurchase offer permitted by applicable law. The Company also has the right to repurchase all of a shareholder’s Common Shares at any time if the aggregate value of such shareholder’s Common Shares is, at the time of such compulsory repurchase, less than the required minimum account balance applicable for the Company. In addition, the Company has the right to repurchase Common Shares if the Company determines that the repurchase is in the best interest of the Company or upon the occurrence of certain events specified in the Subscription Agreement. Repurchases will generally be paid in cash. Any shareholder that submits a repurchase request in excess of $25 million may elect to receive its repurchase proceeds in kind by checking the corresponding box on the tender offer form. The Company will seek to distribute a pro rata slice of the entire portfolio to such shareholder to the extent practicable. On April 6, 2023, the Company commenced its initial tender offer to purchase up to 5.0% of the Company’s Common Shares outstanding as of March 30, 2023 (approximately 520,180 Common Shares) that are tendered by Shareholders by 11:59 p.m., Eastern Time, on May 4, 2023 and not withdrawn. No shareholders tendered by the deadline. Distributions The Company intends to make quarterly distributions to shareholders. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. Distributions will be made to shareholders at such times and in such amounts as determined by the Board. The Company may pay distributions to its Shareholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Shareholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Shareholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods. In addition, the Company has adopted a dividend reinvestment plan (“DRP”), pursuant to which each shareholder will receive dividends in the form of additional Common Shares unless they notify the Company that they instead desire to receive cash or a combination of cash and Common Shares as set forth below. If a shareholder receives dividends in the form of Common Shares, dividend proceeds that otherwise would have been distributed in cash will be retained by the Company for reinvestment. Shareholders who receive dividends and other distributions in the form of Common Shares generally are subject to the same U.S. federal tax consequences as investors who elect to receive their distributions in cash; however, since their cash dividends will be reinvested, those investors will not receive cash with which to pay any applicable taxes on re-invested dividends. A shareholder may elect to receive dividends and other distributions in cash or a combination of cash and Common Shares by notifying the Company in the manner set forth in the shareholder’s Subscription Agreement at least 5 business days prior to the dividend or distribution declaration date fixed by the Board for such dividend. If such notice is received by the Company less than 5 business days prior to the relevant dividend or distribution declaration date, then that dividend will be paid in the form of Common Shares and any subsequent dividends will be paid in cash or a combination of cash and Common Shares. The following table summarizes the distribution declarations and Common Shares issued pursuant to the DRP for the three and six months ended June 30, 2023: Date Declared Record Date Payment Date Amount Per Share Distribution Declared DRP Shares Issued May 9, 2023 May 9, 2023 June 29, 2023 $ 0.30 $ 3,139,941 155,348 Of the total distribution declared, $102,893 was distributed in cash. The Company may fund its cash distributions to shareholders from any source of funds available to the Company, including but not limited to offering proceeds, net investment income from operations, capital gains proceeds from the sale of assets, dividends or other distributions paid to it on account of preferred and common equity investments in portfolio companies and expense support from the Adviser, which is subject to recoupment. Through June 30, 2023, a portion of the Company’s distributions resulted from expense support from the Adviser, and future distributions may result from expense support from the Adviser, each of which is subject to repayment by the Company within three years from the date of payment. Shareholders should understand that any such distribution is not based solely on the Company’s investment performance, and can only be sustained if the Company achieves positive investment performance in future periods and/or the Adviser continues to provide expense support. Shareholders should also understand that the Company’s future repayments of expense support will reduce the distributions that they would otherwise receive. There can be no assurance that the Company will achieve the performance necessary to sustain these distributions, or be able to pay distributions at all. Sources of distributions, other than net investment income and realized gains on a GAAP basis, include required adjustments to GAAP net investment income in the current period to determine taxable income available for distributions. The following table presents the sources of cash distributions on a GAAP basis that the Company has declared on its Common Shares: Per Share Amount Net investment income 0.24 $ 2,544,546 Net realized gains 0.02 180,229 Distributions in excess of net investment income 0.04 415,166 Total 0.30 $ 3,139,941 |
Financial Highlights
| Financial Highlights | 6 Months Ended |
| Jun. 30, 2023 | |
| Financial Highlights [Abstract] | |
| Financial Highlights | Note 8. Financial Highlights The following are financial highlights for the six months ended June 30, 2023 and for the period from February 10, 2022 (date of inception) to June 30, 2022: For the Six Months Ended June 30, 2023 For the Period from February 10, 2022 (date of inception) to June 30, 2022 (5) Per Share Data: Net asset value, beginning of period $ 20.00 $ — Results of operations: Net investment income (loss) (1) 0.38 — Net unrealized and realized gain (loss) (2) (0.02 ) — Net increase (decrease) in net assets resulting from operations 0.36 — Distribution declared (8) (0.30 ) — Total increase (decrease) in net assets 0.06 — Net asset value, end of period $ 20.06 $ — Total return based on NAV (3) 1.80 % — % Shares outstanding, end of period 10,625,397 — Ratios and supplemental data: Net assets, end of period $ 213,168,766 $ — Weighted-average net assets 131,835,908 — Weighted-average shares outstanding 6,638,018 — Ratio of net expenses to average net assets (4) 5.33 % — % Ratio of net expenses before voluntary waivers to average net assets 5.42 % — % Ratio of net investment income to average net assets (4) 4.26 % — % Portfolio turnover (6) 35 % N/A Asset Coverage Ratio (7) 1,679 % N/A (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) The amount shown for a Common Share outstanding does not correspond with the aggregate realized and unrealized gain (loss) on investments for the period due to the timing of capital share transactions of Common Shares in relation to fluctuating market values of investments of the Company. (3) Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period. Total return is not annualized. (4) Annualized, with the exception of certain non-recurring expenses. (5) All expenses were waived for the period. There was no activity other than organization and offering costs incurred for the period from February 10, 2022 (date of inception) to June 30, 2022. (6) Calculated for the period February 1, 2023 (commencement of operations) to June 30, 2023. (7) Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period. (8) Distributions are based on the number of shares outstanding on the date the distribution was declared. |
Subsequent Events
| Subsequent Events | 6 Months Ended |
| Jun. 30, 2023 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 9. Subsequent Events The Company’s management has evaluated subsequent events through the date of issuance of these consolidated financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements other than those disclosed below. On August 7, 2023, the Board of Trustees declared a distribution of $0.38 per share for the third quarter of 2023, payable on August 21, 2023 to shareholders of record on August 7, 2023. |
Significant Accounting Polici_2
| Significant Accounting Policies (Policies) | 6 Months Ended |
| Jun. 30, 2023 | |
| Significant Accounting Policies [Abstract] | |
| Basis of Presentation | Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Company is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies. These consolidated financial statements reflect adjustments that in the opinion of management are necessary for the fair statement of the consolidated financial statements presented herein. |
| Prior Period Adjustment | Prior Period Adjustment During the quarter ended March 31, 2023, a misstatement was identified in the classification between Common Shares and Additional paid in capital in the December 31, 2022, Statement of Assets and Liabilities. The Company incorrectly disclosed the par value of Common Shares as $0.001 instead of $0.01 as of December 31, 2022, and calculated the par value of 500 Common Shares issued for the period ended December 31, 2022, using $0.001. In accordance with ASC Topic 250, Accounting Changes and Error Corrections, the Company evaluated the materiality of the misstatement from both quantitative and qualitative perspectives and concluded that it was immaterial to the prior period. Consequently, the Company revised the historical financial information presented herein. The immaterial restatement resulted in the following changes. For the December 31, 2022, Statement of Assets and Liabilities, the par value of Common Shares has been changed from $0.001 to $0.01, the Common Shares line item has been changed from $0 to $5 and the Additional paid in capital line item has been changed from $10,000 to $9,995. This immaterial restatement had no impact on the Company’s Consolidated Statements of Operations for the period ended December 31, 2022. |
| Use of Estimates | Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
| Consolidation | Consolidation In accordance with U.S. GAAP guidance on consolidation, the Company will generally not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company’s wholly-owned subsidiary, KLCC SPV GS1 LLC, in its consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. |
| Cash and Cash Equivalents | Cash, Cash Equivalents and Restricted Cash Cash consists of deposits held at a custodian bank. Cash equivalents consists of money market investments with original maturities of three months that are readily convertible to cash and are classified as Level 1 investments. Cash and cash equivalents are held at major financial institutions and, at times, may exceed the insured limits under applicable law. Cash and cash equivalents are carried at cost, which approximates fair value. As of June 30, 2023, we had $311,333 of restricted cash related to collateral held for the Secured Credit Facility (as defined below) and presented in the statements of assets and liabilities. This is further discussed in Note 5. |
| Realized Gains/Losses | Realized Gains/Losses Investment transactions and the related revenue and expenses are recorded on a trade-date basis. Realized gains or losses are recorded upon the sale or liquidation of investments and are calculated as the difference between the net proceeds from the sale or liquidation, if any, and the cost basis of the investment using the specific identification method. The change in unrealized appreciation or depreciation reflects the difference between the fair value of the investments and the cost basis of the investments. |
| Interest Income | Interest Income Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations of premiums. The amortized cost of debt investments represents the original cost, including fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized fees and unamortized discounts are recorded as interest income. |
| Fee Income | Fee Income In the general course of its business, the Company receives certain fees, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and loan waiver amendment fees, and commitment fees, and are recorded as fee income in investment income when earned. |
| PIK Income | PIK Income Certain investments may have contractual payment-in-kind (“PIK”) interest. PIK represents accrued interest that is added to the principal amount of the investment on the interest payment date rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest income. Because the Company intends to elect to be treated as a RIC for U.S. federal income purposes under Subchapter M of the Code, this non-cash source of income must be paid out to shareholders in the form of distributions, even though the Company has not yet collected the cash. |
| Receivable for Investments Sold and Payable for Investments Purchased | Receivable for Investments Sold and Payable for Investments Purchased Receivable for investments sold and payable for investments purchased represent unsettled investments. |
| Non-Accrual Loans | Non-Accrual Loans Loans or debt securities are placed on non-accrual status when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest are paid and, in management’s judgment, principal and interest payments are likely to remain current. The Company may make exceptions to this treatment if a loan has sufficient collateral value and is in the process of collection. As of June 30, 2023, there were no loans placed on non-accrual status. |
| Valuation of Portfolio Investments | Valuation of Portfolio Investments In accordance with Rule 2a-5 under the 1940 Act, the Board has designated the Advisor as the Company’s “Valuation Designee”. The Advisor has established a Valuation Committee that is responsible for determining in good faith the fair value of the Company’s investments in instances where there is no readily available market quotation. A readily available market quotation is not expected to exist for most of the investments in the Company’s portfolio, and the Company values these portfolio investments at fair value as determined in good faith by the Valuation Designee. Investments for which market quotations are readily available may be priced by independent pricing services. The Company has retained an external, independent valuation firm to provide data and valuation analyses on the Company’s portfolio companies. The Advisor values the Company’s investments based on the type of financial instrument as outlined below: Securities that are listed on a securities, commodities or futures exchange or market (including such securities when traded in the after‐hours market), will be valued (i) at their last sales prices on the date of determination on the primary exchange on which such securities were traded on such date, or (ii) at their last sales prices on the consolidated tape if such securities on the primary exchange on which such securities were traded on such date were reported on the consolidated tape, or (iii) in the event that the date of determination is not a date upon which an exchange was open for trading, on the date on which such exchange was previously open but not more than 10 days prior to the date of determination. Securities that are not listed on an exchange but are traded over‐the‐counter will be valued at representative “bid” quotations if held long and representative “asked” quotations if held short, unless included in the NASDAQ National Market System, in which case they will be valued based upon their last sales prices (if such prices are available); provided that if the last sales price of a security does not fall between the last “bid” and “asked” price for such security on such date, the Advisor will value such security at the mean between the last “bid” and “asked” price for such security on such date. Securities not denominated in U.S. dollars will be translated into U.S. dollars at prevailing exchange rates as the Advisor may reasonably determine. All other investments will be assigned such value as the Advisor may reasonably determine. When available, quotations from brokers or pricing services will be considered in the valuation process. For example, the Advisor will utilize indicative prices from brokers or pricing services to determine the fair value of bonds and bank debt and may internally validate the quotes obtained or utilize the mean of the bid (if long) and ask (if short) quotes obtained. For these quotes to be considered for valuation purposes they must be sent directly from the brokers to the Advisor. If quotations are not readily available through pricing services or brokers for a security, financial instrument or other property, the Advisor will determine its value in such manner as the Advisor, in its sole discretion, reasonably determines. This is generally achieved by engaging a third‐party valuation firm to value such securities and provide a range of values for each position. The Advisor will then mark the position within that range. The determination of fair value generally considers factors such as comparisons to public companies, comparable transactions, markets in which a company does business, the nature and realizable value of any collateral, discounted cash flows, earnings and ability to make payments, and market yields. If an event such as a purchase, sale, or public offering occurs, the Advisor may consider the pricing indicated by such event to corroborate its internal valuation. FASB ASC Topic 820: Fair Value Measurements and Disclosures (“ASC 820”) specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC 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 of information used in the valuation. The Company classifies the inputs used to measure fair values into the following hierarchy: • Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible to the Company at the measurement date. • Level 2—Valuations are based on similar assets or liabilities in active markets, or quoted prices identical or similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable. • Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuation techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation. 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 Advisor’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and it considers factors specific to the investment. Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Advisor applies the valuation policy approved by the Board that is consistent with ASC 820. Consistent with the valuation policy, the Advisor evaluates the source of inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When a security is valued based on prices provided by reputable dealers or pricing services (that is, broker quotes), the Advisor subjects those prices to various additional criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Advisor reviews pricing provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Some additional factors considered include the number of prices obtained as well as an assessment as to their quality, such as the depth of the relevant market relative to the size of the Company’s position. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment, including the impact of changes in broader market indices and credit spreads, and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein. |
| Organization and Offering Costs | Organization and Offering Costs Organizational costs to establish the Company are charged to expense as incurred. These expenses consist primarily of legal fees and other costs of organizing the Company. Offering costs in connection with the offering of Common Shares of the Company are capitalized as a deferred charge and amortized to expense on a straight-line basis over 12 months. Initial offering costs were amortized beginning February 1, 2023, the commencement of operations. Under the Advisory Agreement and the Administration Agreement, the Company, either directly or through reimbursements to the Advisor or its affiliates, is responsible for its organization and offering costs. For the three and six months ended June 30, 2023, the Advisor and its affiliates incurred organization and offering costs of $0 and $328,240, respectively, on behalf of the Company. For the three months and the period from February 10, 2022 (date of inception) to June 30, 2022, the Advisor and its affiliates incurred organization and offering costs of $64,948 and $97,635, respectively, on behalf of the Company. As of June 30, 2023, the total amount owed to the Company from the Advisor pursuant to the Expense Support and Conditional Reimbursement Agreement is included in Due from Advisor in the Statement of Assets and Liabilities. As of June 30, 2023, the total amount owed to the Advisor and its affiliates for expenses incurred on behalf of the Company is included in Due to Advisor and affiliates in the Statement of Assets and Liabilities. |
| Income Taxes | Income Taxes The Company intends to elect to be treated as a RIC. So long as the Company maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its shareholders as dividends. Rather, any tax liability related to income earned and distributed would represent obligations of the Company’s investors and would not be reflected in the consolidated financial statements of the Company. The Company 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. Tax positions not deemed to meet the “more likely than not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof. The Company did not record any tax provision in the current period. To qualify for and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses. In addition, based on the excise tax distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of (1) 98% of its ordinary income for the calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in prior years. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed. |
Investments and Fair Value Me_2
| Investments and Fair Value Measurements (Tables) | 6 Months Ended |
| Jun. 30, 2023 | |
| Investments and Fair Value Measurements [Abstract] | |
| Investment Portfolio at Cost and Fair Value | The composition of the Company’s investment portfolio at cost and fair value as of June 30, 2023 was as follows: June 30, 2023 Amortized Cost Fair value % of Total Investments at Fair Value First lien debt $ 235,949,385 $ 235,635,044 93.03 % Second lien debt 15,004,322 17,655,000 6.97 % Total investments $ 250,953,707 $ 253,290,044 100.00 % The industry composition of investments based on fair value as of June 30, 2023 was as follows: June 30, 2023 Services: Business 21.39 % Capital Equipment 9.11 Hotel, Gaming & Leisure 8.24 High Tech Industries 6.50 Consumer Goods: Non-Durable 6.17 Automotive 6.14 Healthcare & Pharmaceuticals 6.08 Banking, Finance, Insurance & Real Estate 4.62 Energy: Electricity 4.02 Containers, Packaging & Glass 3.45 Media: Broadcasting & Subscription 3.38 Chemicals, Plastics & Rubber 2.72 Transportation: Cargo 2.62 Retail 2.18 Aerospace & Defense 2.18 Media: Advertising, Printing & Publishing 1.92 Construction & Building 1.72 Energy: Oil & Gas 1.50 Services: Consumer 1.33 Utilities: Electric 1.16 Environmental Industries 1.08 Transportation: Consumer 0.98 Beverage, Food and Tobacco 0.76 Consumer Goods: Durable 0.75 Total 100.00 % The geographic composition of investments at cost and fair value was as follows: June 30, 2023 Amortized Cost Fair Value % of Total Investments at Fair Value Fair Value as % of Net Assets United States $ 248,070,364 $ 250,373,354 98.85 % 117.45 % Canada 1,894,865 1,938,928 0.76 0.91 Luxembourg 988,478 977,762 0.39 0.46 Total $ 250,953,707 $ 253,290,044 100.00 % 118.82 % |
| Fair Value Hierarchy of Investments | The following table presents the fair value hierarchy of the Company’s investment portfolio as of June 30, 2023: June 30, 2023 Assets Level 1 Level 2 Level 3 Total First Lien Debt $ — $ 176,674,978 $ 58,960,066 $ 235,635,044 Second Lien Debt — — 17,655,000 17,655,000 Total investments $ — $ 176,674,978 $ 76,615,066 $ 253,290,044 |
| Fair Value of Investments | The following table presents changes in the fair value of investments for which Level 3 inputs were used to determine the fair value for the three and six months ended June 30, 2023, respectively: First Lien Debt Second Lien Debt Total Balance as of April 1, 2023 $ — $ — $ — Purchases of investments 59,279,599 13,500,000 72,779,599 Proceeds from principal pre-payments and sales of investments (325,927 ) — (325,927 ) Payment-in-kind — 1,500,000 1,500,000 Net accretion of discount on investments 15,365 4,322 19,687 Net change in unrealized appreciation/depreciation (8,971 ) 2,650,678 2,641,707 Transfers into Level 3 — — — Transfers out of Level 3 — — — Balance as of June 30, 2023 $ 58,960,066 $ 17,655,000 $ 76,615,066 Net change in unrealized appreciation (depreciation) on Level 3 investments still held at the end of the period $ (8,971 ) $ 2,650,678 $ 2,641,707 First Lien Debt Second Lien Debt Total Balance as of February 1, 2023 (commencement of operations) $ — $ — $ — Purchases of investments 59,279,599 13,500,000 72,779,599 Proceeds from principal pre-payments and sales of investments (325,927 ) — (325,927 ) Payment-in-kind — 1,500,000 1,500,000 Net accretion of discount on investments 15,365 4,322 19,687 Net change in unrealized appreciation/depreciation (8,971 ) 2,650,678 2,641,707 Transfers into Level 3 — — — Transfers out of Level 3 — — — Balance as of June 30, 2023 $ 58,960,066 $ 17,655,000 $ 76,615,066 Net change in unrealized appreciation (depreciation) on Level 3 investments still held at the end of the period $ (8,971 ) $ 2,650,678 $ 2,641,707 |
| Valuation Techniques and Significant Unobservable Inputs of Level 3 Investments | The valuation techniques and significant unobservable inputs used in the valuation of Level 3 investments as of June 30, 2023 were as follows: Investment Type Fair Value Valuation Technique Unobservable Input Range Weighted Average (3) Second Lien Debt $ 17,655,000 Discounted cash flow Discount rate (1) 15% 15% First Lien Debt 58,960,066 Transactional Value (2) N/A N/A N/A 76,615,066 (1) Significant increases in discount rates would result in a significantly lower fair value measurement. (2) Fair value was determined based on transaction pricing or recent acquisition or sale as the best measure of fair value with no material changes in operations of the related portfolio companies since the transaction date. (3) Unobservable inputs were weighted by the relative fair value of investments. |
Borrowings (Tables)
| Borrowings (Tables) | 6 Months Ended |
| Jun. 30, 2023 | |
| Borrowings [Abstract] | |
| Debt Obligations | Debt obligations consisted of the following as of June 30, 2023: Total Debt Outstanding $ 13,500,000 Average Debt Outstanding $ 1,616,667 Effective Interest Rate 8.49 % Weighted Average Interest Rate 8.49 % Asset Coverage Ratio 1,679 % |
| Interest Expense Related to Secured Credit Facility | For the three and six months ended June 30, 2023, the components of interest expense related to the Secured Credit Facility were as follows: Three Months Ended June 30, 2023 For the Six Months Ended June 30, 2023 Borrowing interest expense $ 22,875 $ 22,875 Unused facility fee 505,639 505,639 Amortization of deferred financing costs 133,881 133,881 Total interest and debt financing expense $ 662,395 $ 662,395 |
Commitments and Contingencies (
| Commitments and Contingencies (Tables) | 6 Months Ended |
| Jun. 30, 2023 | |
| Commitments and Contingencies [Abstract] | |
| Outstanding Commitments to Fund Investments in Current Portfolio | The Company may, from time to time, enter into commitments to fund investments. As of June 30, 2023, the Company had the following outstanding commitments to fund investments in current portfolio companies: June 30, 2023 Unfunded delayed draw term loan commitments $ 4,713,665 Unfunded revolver obligations 2,650,602 Total Unfunded $ 7,364,267 |
Net Assets (Tables)
| Net Assets (Tables) | 6 Months Ended |
| Jun. 30, 2023 | |
| Net Assets [Abstract] | |
| Summary of Total Common Shares Issued and Proceeds Received | The following table summarizes the total Common Shares issued and proceeds received during the period from the Company’s inception to June 30, 2023: Date of Closing Common Shares Issued NAV per Common Share Subscription Proceeds Received June 1, 2023 3,579 $ 19.55 $ 19.56 $ 70,000 May 1, 2023 62,877 $ 19.87 $ 19.88 $ 1,250,000 March 31, 2023 6,314,993 $ 19.78 $ 19.81 $ 125,100,000 March 1, 2023 50,251 $ 19.80 $ 19.90 $ 1,000,000 February 1, 2023 4,037,850 $ 20.00 $ 20.00 $ 80,757,000 December 31, 2022 500 $ 20.00 $ 20.00 $ 10,000 Totals 10,470,050 $ 208,187,000 |
| Distribution Declarations and Common Shares Issued | The following table summarizes the distribution declarations and Common Shares issued pursuant to the DRP for the three and six months ended June 30, 2023: Date Declared Record Date Payment Date Amount Per Share Distribution Declared DRP Shares Issued May 9, 2023 May 9, 2023 June 29, 2023 $ 0.30 $ 3,139,941 155,348 |
| Sources of Cash Distributions [Table Text Block] | The following table presents the sources of cash distributions on a GAAP basis that the Company has declared on its Common Shares: Per Share Amount Net investment income 0.24 $ 2,544,546 Net realized gains 0.02 180,229 Distributions in excess of net investment income 0.04 415,166 Total 0.30 $ 3,139,941 |
Financial Highlights (Tables)
| Financial Highlights (Tables) | 6 Months Ended |
| Jun. 30, 2023 | |
| Financial Highlights [Abstract] | |
| Financial Highlights | The following are financial highlights for the six months ended June 30, 2023 and for the period from February 10, 2022 (date of inception) to June 30, 2022: For the Six Months Ended June 30, 2023 For the Period from February 10, 2022 (date of inception) to June 30, 2022 (5) Per Share Data: Net asset value, beginning of period $ 20.00 $ — Results of operations: Net investment income (loss) (1) 0.38 — Net unrealized and realized gain (loss) (2) (0.02 ) — Net increase (decrease) in net assets resulting from operations 0.36 — Distribution declared (8) (0.30 ) — Total increase (decrease) in net assets 0.06 — Net asset value, end of period $ 20.06 $ — Total return based on NAV (3) 1.80 % — % Shares outstanding, end of period 10,625,397 — Ratios and supplemental data: Net assets, end of period $ 213,168,766 $ — Weighted-average net assets 131,835,908 — Weighted-average shares outstanding 6,638,018 — Ratio of net expenses to average net assets (4) 5.33 % — % Ratio of net expenses before voluntary waivers to average net assets 5.42 % — % Ratio of net investment income to average net assets (4) 4.26 % — % Portfolio turnover (6) 35 % N/A Asset Coverage Ratio (7) 1,679 % N/A (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) The amount shown for a Common Share outstanding does not correspond with the aggregate realized and unrealized gain (loss) on investments for the period due to the timing of capital share transactions of Common Shares in relation to fluctuating market values of investments of the Company. (3) Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period. Total return is not annualized. (4) Annualized, with the exception of certain non-recurring expenses. (5) All expenses were waived for the period. There was no activity other than organization and offering costs incurred for the period from February 10, 2022 (date of inception) to June 30, 2022. (6) Calculated for the period February 1, 2023 (commencement of operations) to June 30, 2023. (7) Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period. (8) Distributions are based on the number of shares outstanding on the date the distribution was declared. |
Organization (Details)
| Organization (Details) - USD ($) $ / shares in Units, $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
| Debt Instruments [Abstract] | ||
| Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
| Minimum [Member] | ||
| Debt Instruments [Abstract] | ||
| Enterprise value | $ 300 | |
| Maximum [Member] | ||
| Debt Instruments [Abstract] | ||
| Enterprise value | $ 3,000 |
Significant Accounting Polici_3
| Significant Accounting Policies, Prior Period Adjustment (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
| Prior Period Adjustment [Abstract] | ||
| Common share, par value (in dollars per share) | $ 0.01 | $ 0.01 |
| Common share, shares issued (in shares) | 10,625,397 | 500 |
| Common share | $ 106,254 | $ 5 |
| Additional paid in capital | $ 211,117,794 | $ 9,995 |
| Revision of Prior Period, Error Correction, Adjustment [Member] | ||
| Prior Period Adjustment [Abstract] | ||
| Common share, par value (in dollars per share) | $ 0.001 | |
| Common share, shares issued (in shares) | 500 | |
| Common share | $ 0 | |
| Additional paid in capital | $ 10,000 |
Significant Accounting Polici_4
| Significant Accounting Policies, Cash and Cash Equivalents (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
| Significant Accounting Policies [Abstract] | ||
| Restricted cash | $ 311,333 | $ 0 |
Significant Accounting Polici_5
| Significant Accounting Policies, Non-Accrual Loans (Details) | Jun. 30, 2023 USD ($) |
| Non-Accrual Loans [Abstract] | |
| Loans placed on non-accrual status | $ 0 |
Significant Accounting Polici_6
| Significant Accounting Policies, Organization and Offering Costs (Details) - USD ($) | 3 Months Ended | 5 Months Ended | 6 Months Ended | |
| Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | |
| Organization and Offering Costs [Abstract] | ||||
| Organizational and offering costs | $ 328,240 | $ 64,948 | $ 97,635 | $ 0 |
Significant Accounting Polici_7
| Significant Accounting Policies, Income Taxes (Details) | 3 Months Ended |
| Jun. 30, 2023 USD ($) | |
| Income Taxes [Abstract] | |
| Tax provision | $ 0 |
Related Party Transactions, Bas
| Related Party Transactions, Base Management Fee (Details) | 3 Months Ended | 5 Months Ended | 6 Months Ended | |
| Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) qtr | |
| Base Management Fee [Abstract] | ||||
| Base management fee | $ 655,300 | $ 0 | $ 0 | $ 866,349 |
| Management fee waived | 0 | $ 0 | $ 0 | $ (128,140) |
| Net base management fee | 655,300 | |||
| Advisor [Member] | ||||
| Base Management Fee [Abstract] | ||||
| Percentage of base management fee on net assets | 1.25% | |||
| Number of recently completed quarters | qtr | 2 | |||
| Percentage of base management fee on gross assets | 1.25% | |||
| Base management fee | $ 655,300 | $ 866,349 | ||
| Management fee waived | 128,140 | |||
| Net base management fee | $ 738,209 | |||
Related Party Transactions, Inc
| Related Party Transactions, Incentive Fee (Details) | 3 Months Ended | 6 Months Ended |
| Jun. 30, 2023 USD ($) | Jun. 30, 2023 USD ($) Component | |
| Incentive Fee [Abstract] | ||
| Income based incentive fees paid | $ 0 | $ 0 |
| Incentive fees paid | $ 317,514 | |
| Advisor [Member] | ||
| Incentive Fee [Abstract] | ||
| Number of incentive fee components | Component | 2 | |
| Coupon securities | $ 0 | |
| Percent of quarterly hurdle rate | 1.25% | |
| Percent of annual hurdle rate | 5% | |
| Percentage of dollar amount of pre-incentive fee net investment income returns | 100% | |
| Percentage of pre incentive fee net investment income returns which exceeds the hurdle rate as catch-up | 12.50% | |
| Percentage of pre incentive fee net investment income returns which exceeds the hurdle rate as catch-up per calendar quarter | 1.43% | |
| Percentage of pre incentive fee net investment income returns which exceeds the hurdle rate as catch-up annualized | 5.72% | |
| Percentage of dollar amount of all pre-incentive fee net investment income returns | 12.50% | |
| Percentage of excess pre-incentive fee net investment income return | 1.43% | |
| Percentage of cumulative realized capital gains incentive fee payable at the end of each calendar year | 12.50% | |
| Increased percentage of cumulative realized capital gains incentive fee payable at the end of each calendar year | 15% | |
| Incentive fees paid | $ 0 |
Related Party Transactions, Exp
| Related Party Transactions, Expense Support and Conditional Reimbursement Agreement (Details) - Advisor [Member] - USD ($) | 3 Months Ended | 6 Months Ended | |
| Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | |
| Expense Support and Conditional Reimbursement Agreement [Abstract] | |||
| Percentage of other operating expenses for applicable quarter-end net asset value | 1% | ||
| Reimbursement payment obligation | $ 0 | $ 0 | $ 0 |
| Future potential reimbursement amount | 1,288,330 | 1,288,330 | |
| Expense support | $ 691,769 | $ 691,769 | |
| Maximum [Member] | |||
| Expense Support and Conditional Reimbursement Agreement [Abstract] | |||
| Reimbursement period of expense payments | 3 years | ||
| Reimbursement payment period | 45 days |
Investments and Fair Value Me_3
| Investments and Fair Value Measurements, Investment Portfolio at Cost and Fair Value (Details) | Jun. 30, 2023 USD ($) |
| Investments [Abstract] | |
| Amortized cost | $ 250,953,707 |
| Fair value | $ 253,290,044 |
| Percentage of total investments at fair value | 100% |
| First Lien Debt [Member] | |
| Investments [Abstract] | |
| Amortized cost | $ 235,949,385 |
| Fair value | $ 235,635,044 |
| Percentage of total investments at fair value | 93.03% |
| Second Lien Debt [Member] | |
| Investments [Abstract] | |
| Amortized cost | $ 15,004,322 |
| Fair value | $ 17,655,000 |
| Percentage of total investments at fair value | 6.97% |
Investments and Fair Value Me_4
| Investments and Fair Value Measurements, Investment Based on Fair Value by Industry (Details) | Jun. 30, 2023 |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 100% |
| Services: Business [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 21.39% |
| Capital Equipment [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 9.11% |
| Hotel, Gaming & Leisure [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 8.24% |
| High Tech Industries [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 6.50% |
| Consumer Goods: Non-Durable [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 6.17% |
| Automotive [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 6.14% |
| Healthcare & Pharmaceuticals [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 6.08% |
| Banking, Finance, Insurance & Real Estate [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 4.62% |
| Energy: Electricity [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 4.02% |
| Containers, Packaging & Glass [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 3.45% |
| Media: Broadcasting & Subscription [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 3.38% |
| Chemicals, Plastics & Rubber [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 2.72% |
| Transportation: Cargo [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 2.62% |
| Retail [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 2.18% |
| Aerospace and Defense [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 2.18% |
| Media: Advertising, Printing & Publishing [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 1.92% |
| Construction & Building [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 1.72% |
| Energy: Oil and Gas [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 1.50% |
| Services: Consumer [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 1.33% |
| Utilities: Electric [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 1.16% |
| Environmental Industries [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 1.08% |
| Transportation: Consumer [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 0.98% |
| Beverage, Food and Tobacco [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 0.76% |
| Consumer Goods: Durable [Member] | |
| Investments [Abstract] | |
| Percentage of total investments at fair value | 0.75% |
Investments and Fair Value Me_5
| Investments and Fair Value Measurements, Investments at Cost and Fair Value by Geographic Region (Details) | Jun. 30, 2023 USD ($) |
| Investments [Abstract] | |
| Amortized cost | $ 250,953,707 |
| Fair value | $ 253,290,044 |
| Percentage of total investments at fair value | 100% |
| Percentage of net assets | 118.82% |
| United States [Member] | |
| Investments [Abstract] | |
| Amortized cost | $ 248,070,364 |
| Fair value | $ 250,373,354 |
| Percentage of total investments at fair value | 98.85% |
| Percentage of net assets | 117.45% |
| Canada [Member] | |
| Investments [Abstract] | |
| Amortized cost | $ 1,894,865 |
| Fair value | $ 1,938,928 |
| Percentage of total investments at fair value | 0.76% |
| Percentage of net assets | 0.91% |
| Luxembourg [Member] | |
| Investments [Abstract] | |
| Amortized cost | $ 988,478 |
| Fair value | $ 977,762 |
| Percentage of total investments at fair value | 0.39% |
| Percentage of net assets | 0.46% |
Investments and Fair Value Me_6
| Investments and Fair Value Measurements, Fair Value Hierarchy of Investments (Details) | Jun. 30, 2023 USD ($) |
| Investments [Abstract] | |
| Fair Value | $ 253,290,044 |
| First Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | 235,635,044 |
| Second Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | 17,655,000 |
| Level 1 [Member] | |
| Investments [Abstract] | |
| Fair Value | 0 |
| Level 1 [Member] | First Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | 0 |
| Level 1 [Member] | Second Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | 0 |
| Level 2 [Member] | |
| Investments [Abstract] | |
| Fair Value | 176,674,978 |
| Level 2 [Member] | First Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | 176,674,978 |
| Level 2 [Member] | Second Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | 0 |
| Level 3 [Member] | |
| Investments [Abstract] | |
| Fair Value | 76,615,066 |
| Level 3 [Member] | First Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | 58,960,066 |
| Level 3 [Member] | Second Lien Debt [Member] | |
| Investments [Abstract] | |
| Fair Value | $ 17,655,000 |
Investments and Fair Value Me_7
| Investments and Fair Value Measurements, Fair Value of Investments (Details) - Level 3 [Member] - USD ($) | 3 Months Ended | 5 Months Ended |
| Jun. 30, 2023 | Jun. 30, 2023 | |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of period | $ 0 | $ 0 |
| Purchases of investments | 72,779,599 | 72,779,599 |
| Proceeds from principal pre-payments and sales of investments | (325,927) | (325,927) |
| Paid-in-kind | 1,500,000 | 1,500,000 |
| Net accretion of discount on investments | 19,687 | 19,687 |
| Net change in unrealized appreciation/depreciation | 2,641,707 | 2,641,707 |
| Transfers into Level 3 | 0 | 0 |
| Transfers out of Level 3 | 0 | 0 |
| Balance at end of period | 76,615,066 | 76,615,066 |
| Net change in unrealized appreciation (depreciation) on Level 3 investments still held | 2,641,707 | 2,641,707 |
| First Lien Debt [Member] | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of period | 0 | 0 |
| Purchases of investments | 59,279,599 | 59,279,599 |
| Proceeds from principal pre-payments and sales of investments | (325,927) | (325,927) |
| Paid-in-kind | 0 | 0 |
| Net accretion of discount on investments | 15,365 | 15,365 |
| Net change in unrealized appreciation/depreciation | (8,971) | (8,971) |
| Transfers into Level 3 | 0 | 0 |
| Transfers out of Level 3 | 0 | 0 |
| Balance at end of period | 58,960,066 | 58,960,066 |
| Net change in unrealized appreciation (depreciation) on Level 3 investments still held | (8,971) | (8,971) |
| Second Lien Debt [Member] | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of period | 0 | 0 |
| Purchases of investments | 13,500,000 | 13,500,000 |
| Proceeds from principal pre-payments and sales of investments | 0 | 0 |
| Paid-in-kind | 1,500,000 | 1,500,000 |
| Net accretion of discount on investments | 4,322 | 4,322 |
| Net change in unrealized appreciation/depreciation | 2,650,678 | 2,650,678 |
| Transfers into Level 3 | 0 | 0 |
| Transfers out of Level 3 | 0 | 0 |
| Balance at end of period | 17,655,000 | 17,655,000 |
| Net change in unrealized appreciation (depreciation) on Level 3 investments still held | $ 2,650,678 | $ 2,650,678 |
Investments and Fair Value Me_8
| Investments and Fair Value Measurements, Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level 3 Investments (Details) | Jun. 30, 2023 USD ($) | |
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Fair Value | $ 253,290,044 | |
| First Lien Debt [Member] | ||
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Fair Value | 235,635,044 | |
| Second Lien Debt [Member] | ||
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Fair Value | 17,655,000 | |
| Level 3 [Member] | ||
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Fair Value | 76,615,066 | |
| Level 3 [Member] | First Lien Debt [Member] | ||
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Fair Value | 58,960,066 | |
| Level 3 [Member] | Second Lien Debt [Member] | ||
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Fair Value | $ 17,655,000 | |
| Level 3 [Member] | Second Lien Debt [Member] | Discounted Cash Flow [Member] | Discount Rate [Member] | ||
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Measurement Input | 0.15 | |
| Level 3 [Member] | Second Lien Debt [Member] | Discounted Cash Flow [Member] | Discount Rate [Member] | Weighted Average [Member] | ||
| Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
| Measurement Input | 0.15 | [1] |
| [1]Unobservable inputs were weighted by the relative fair value of investments. | ||
Borrowings (Details)
| Borrowings (Details) - USD ($) | 3 Months Ended | 5 Months Ended | 6 Months Ended | |||
| Jun. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | |
| Debt Obligations [Abstract] | ||||||
| Total Debt Outstanding | $ 13,500,000 | $ 13,500,000 | $ 13,500,000 | $ 0 | ||
| Average Debt Outstanding | $ 1,616,667 | |||||
| Weighted Average Interest Rate | 8.49% | 8.49% | 8.49% | |||
| Interest and Debt Financing Expense [Abstract] | ||||||
| Amortization of deferred financing costs | $ 133,881 | $ 0 | $ 0 | $ 133,881 | ||
| Secured Credit Facility [Member] | ||||||
| Line of Credit Facility [Abstract] | ||||||
| Maximum borrowing capacity | $ 300,000,000 | 300,000,000 | $ 300,000,000 | |||
| Variable interest rate if broadly syndicated loans higher of 60% | 3.25% | |||||
| Variable interest rate if broadly syndicated loans less than 60% and higher than 30% | 3.35% | |||||
| Variable interest rate if broadly syndicated loans less than 30% | 3.50% | |||||
| Period considered for determination of variable rate | 18 months | |||||
| Debt Obligations [Abstract] | ||||||
| Total Debt Outstanding | $ 13,500,000 | 13,500,000 | $ 13,500,000 | |||
| Effective Interest Rate | 8.49% | |||||
| Asset Coverage Ratio | 1,679% | |||||
| Interest and Debt Financing Expense [Abstract] | ||||||
| Borrowing interest expense | 22,875 | $ 22,875 | ||||
| Unused facility fee | 505,639 | 505,639 | ||||
| Amortization of deferred financing costs | 133,881 | 133,881 | ||||
| Total interest and debt financing expense | $ 662,395 | $ 662,395 | ||||
| Secured Credit Facility [Member] | Minimum [Member] | ||||||
| Line of Credit Facility [Abstract] | ||||||
| Percentage of loans which are broadly syndicated loans 1 | 60% | |||||
| Percentage of loans which are broadly syndicated loans 2 | 30% | |||||
| Secured Credit Facility [Member] | Maximum [Member] | ||||||
| Line of Credit Facility [Abstract] | ||||||
| Percentage of loans which are broadly syndicated loans 2 | 60% | |||||
| Percentage of loans which are broadly syndicated loans 3 | 30% | |||||
Commitments and Contingencies_2
| Commitments and Contingencies (Details) | Jun. 30, 2023 USD ($) |
| Commitments and Contingencies [Abstract] | |
| Accrued liability related to legal proceedings | $ 0 |
| Unfunded delayed draw term loan commitments | 4,713,665 |
| Unfunded revolver obligations | 2,650,602 |
| Total Unfunded | $ 7,364,267 |
Net Assets (Details)
| Net Assets (Details) - USD ($) | 3 Months Ended | 5 Months Ended | 6 Months Ended | 17 Months Ended | |||||||||||||
| Jun. 01, 2023 | May 01, 2023 | Apr. 06, 2023 | Mar. 31, 2023 | Mar. 01, 2023 | Feb. 01, 2023 | Dec. 31, 2022 | Dec. 23, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2023 | Feb. 09, 2022 | [1] | |||
| Subscriptions [Abstract] | |||||||||||||||||
| Minimum investment for subscription agreement | $ 10,000 | $ 10,000 | $ 10,000 | ||||||||||||||
| Common share, shares issued (in shares) | 3,579 | 62,877 | 6,314,993 | 50,251 | 4,037,850 | 500 | 66,456 | 0 | 0 | 10,469,550 | |||||||
| Common shares, shares issued since inception (in shares) | 10,470,050 | 10,470,050 | 10,470,050 | ||||||||||||||
| NAV per common share (in dollars per share) | $ 19.55 | $ 19.87 | $ 19.78 | $ 19.8 | $ 20 | $ 20 | $ 20.06 | $ 0 | [1] | $ 0 | [1] | $ 20.06 | $ 20.06 | $ 0 | |||
| Subscription price per common share (in dollars per share) | $ 19.56 | $ 19.88 | $ 19.81 | $ 19.9 | $ 20 | $ 20 | |||||||||||
| Proceeds from shares sold | $ 70,000 | $ 1,250,000 | $ 125,100,000 | $ 1,000,000 | $ 80,757,000 | $ 10,000 | $ 1,320,000 | $ 0 | $ 0 | $ 208,177,000 | $ 208,187,000 | ||||||
| Proceeds from issuance of common shares | $ 0 | $ 208,177,000 | |||||||||||||||
| Repurchases [Abstract] | |||||||||||||||||
| Maximum percentage to repurchase common stock of net asset value | 5% | ||||||||||||||||
| Minimum percentage to repurchase common stock of net asset value | 10% | ||||||||||||||||
| Repurchase offer commencement period | 90 days | ||||||||||||||||
| Minimum amount to receive the repurchase proceeds in kind | $ 25,000,000 | ||||||||||||||||
| Common shares that are tendered by shareholders and not withdrawn (in shares) | 520,180 | ||||||||||||||||
| Distributions [Abstract] | |||||||||||||||||
| Number of business days for receiving dividend in cash or in combination | 5 days | ||||||||||||||||
| Date declared | May 09, 2023 | May 09, 2023 | |||||||||||||||
| Record date | May 09, 2023 | May 09, 2023 | |||||||||||||||
| Payment date | Jun. 29, 2023 | Jun. 29, 2023 | |||||||||||||||
| Amount per share (in dollars per share) | $ 0.3 | $ 0.3 | $ 0.3 | ||||||||||||||
| Distribution declared | $ 3,139,941 | $ 3,139,941 | |||||||||||||||
| DRP Shares Issued (in shares) | 155,348 | 0 | 0 | 155,348 | |||||||||||||
| Distributions paid in cash | $ 102,893 | ||||||||||||||||
| Net investment income available for distribution per share | $ 0.24 | ||||||||||||||||
| Net investment income available for distribution | $ 2,544,546 | ||||||||||||||||
| Net realized gains available for distribution (per share) | $ 0.02 | ||||||||||||||||
| Net realized gains available for distribution | $ 180,229 | ||||||||||||||||
| Distributions in excess of net investment income (per share) | $ 0.04 | ||||||||||||||||
| Distributions in excess of net investment income | $ 415,166 | ||||||||||||||||
| Cash distributions (per share) | $ 0.3 | ||||||||||||||||
| Cash distributions | $ 3,139,941 | $ 0 | $ 0 | $ 3,139,941 | |||||||||||||
| Maximum [Member] | |||||||||||||||||
| Repurchases [Abstract] | |||||||||||||||||
| Tender offer to purchase common shares outstanding, percentage | 5% | ||||||||||||||||
| Advisor [Member] | |||||||||||||||||
| Subscriptions [Abstract] | |||||||||||||||||
| Common share, shares issued (in shares) | 500 | ||||||||||||||||
| Proceeds from issuance of common shares | $ 10,000 | ||||||||||||||||
| Kennedy Lewis Management [Member] | |||||||||||||||||
| Subscriptions [Abstract] | |||||||||||||||||
| Common share, shares issued (in shares) | 62,877 | 40,100 | |||||||||||||||
| Proceeds from issuance of common shares | $ 1,250,000 | $ 802,000 | |||||||||||||||
| [1]All expenses were waived for the period. There was no activity other than organization and offering costs incurred for the period from February 10, 2022 (date of inception) to June 30, 2022. | |||||||||||||||||
Financial Highlights (Details)
| Financial Highlights (Details) - USD ($) | 5 Months Ended | 6 Months Ended | |||
| Jun. 30, 2022 | [1] | Jun. 30, 2023 | Dec. 31, 2022 | ||
| Per Share Data [Roll Forward] | |||||
| Net asset value, beginning of period (in dollars per share) | $ 0 | $ 20 | |||
| Results of operation [Abstract] | |||||
| Net investment income (loss) (in dollars per share) | [2] | 0 | 0.38 | ||
| Net unrealized and realized gain (loss) (in dollars per share) | [3] | 0 | (0.02) | ||
| Net increase (decrease) in net assets resulting from operations (in dollars per share) | 0 | 0.36 | |||
| Shareholder Distributions [Abstract] | |||||
| Distributions from net investment income | [4] | 0 | (0.3) | ||
| Total increase (decrease) in net assets (in dollars per share) | 0 | 0.06 | |||
| Net asset value, end of period (in dollars per share) | $ 0 | $ 20.06 | |||
| Total return based on NAV | [5] | 0% | 1.80% | ||
| Shares outstanding, end of period (in shares) | 0 | 10,625,397 | 500 | ||
| Ratio and Supplemental Data [Abstract] | |||||
| Net assets, end of period | $ 0 | $ 213,168,766 | |||
| Weighted-average net assets | $ 0 | $ 131,835,908 | |||
| Weighted-average shares outstanding, Basic (in shares) | 0 | 6,638,018 | |||
| Weighted-average shares outstanding, Diluted (in shares) | 0 | 6,638,018 | |||
| Ratio of net expenses to average net assets | [6] | 0% | 5.33% | ||
| Ratio of net expenses before voluntary waivers to average net assets | 0% | 5.42% | |||
| Ratio of net investment income to average net assets | [6] | 0% | 4.26% | ||
| Portfolio turnover | [7] | 35% | |||
| Asset coverage ratio | [8] | 1,679% | |||
| [1]All expenses were waived for the period. There was no activity other than organization and offering costs incurred for the period from February 10, 2022 (date of inception) to June 30, 2022.[2]The per share data was derived by using the weighted average shares outstanding during the period.[3]The amount shown for a Common Share outstanding does not correspond with the aggregate realized and unrealized gain (loss) on investments for the period due to the timing of capital share transactions of Common Shares in relation to fluctuating market values of investments of the Company.[4]Distributions are based on the number of shares outstanding on the date the distribution was declared.[5]Total return based on net asset value calculated as the change in Net Asset Value per share during the respective periods, assuming distributions, if any, are reinvested on the effects of the performance of the Company during the period. Total return is not annualized.[6]Annualized, with the exception of certain non-recurring expenses.[7]Calculated for the period February 1, 2023 (commencement of operations) to June 30, 2023.[8]Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period. | |||||
Subsequent Events (Details)
| Subsequent Events (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
| Aug. 07, 2023 | Apr. 06, 2023 | Jun. 30, 2023 | Jun. 30, 2023 | |
| Dividends [Abstract] | ||||
| Dividends declared date | May 09, 2023 | May 09, 2023 | ||
| Dividend declared per share (in dollars per share) | $ 0.3 | $ 0.3 | ||
| Dividends payment date | Jun. 29, 2023 | Jun. 29, 2023 | ||
| Dividends record date | May 09, 2023 | May 09, 2023 | ||
| Common shares that are tendered by shareholders and not withdrawn (in shares) | 520,180 | |||
| Maximum [Member] | ||||
| Dividends [Abstract] | ||||
| Tender offer to purchase common shares outstanding, percentage | 5% | |||
| Subsequent Event [Member] | ||||
| Dividends [Abstract] | ||||
| Dividends declared date | Aug. 07, 2023 | |||
| Dividends payment date | Aug. 21, 2023 | |||
| Dividends record date | Aug. 07, 2023 | |||
| Subsequent Event [Member] | Dividend Declared In Q3 2023 [Member] | ||||
| Dividends [Abstract] | ||||
| Dividend declared per share (in dollars per share) | $ 0.38 |