SLR Private Credit BDC II 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	5 Months Ended
	Jun. 30, 2023	Aug. 04, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Registrant Name	SLR Private Credit BDC II LLC
Entity Central Index Key	0001932591
Entity File Number	000-56518
Entity Tax Identification Number	88-1890628
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Address, Address Line One	500 Park Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
Local Phone Number	993-1670
City Area Code	212
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Common Stock, Shares Outstanding		120,000

Statement of Assets and Liabili

Statement of Assets and Liabilities $ in Thousands	Jun. 30, 2023 USD ($) $ / shares
Investments at fair value:
Non-controlled/non-affiliated investments (cost: $1,785)	$ 1,784
Cash	107
Cash equivalents (cost: $2,984)	2,984
Interest receivable	12
Prepaid expenses	515
Total assets	5,402
Liabilities
Payable for cash equivalents purchased	2,984
Management fee payable (see note 3)	11
Administration fee payable (see note 3)	0
Interest payable (see note 5)	63
Other liabilities and accrued expenses	100
Total liabilities	3,158
Commitments and contingencies (see note 6)
Unitholders' Capital
Common Unitholders' capital (120,000 units issued and outstanding)	2,926
Accumulated distributable net loss	(682)
Total unitholders' capital	2,244
Total liabilities and unitholders' capital	$ 5,402
Net asset value per unit | $ / shares	$ 18.7

Statement of Assets and Liabi_2

Statement of Assets and Liabilities (Parenthetical) $ in Thousands	Jun. 30, 2023 USD ($) shares
Investment owned, at cost | $	$ 1,785
Common units issued | shares	120,000
Units at beginning of period | shares	120,000
US Treasury Securities [Member] | Cash Equivalents [Member]
Amortized cost of investment in debt security  | $	$ 2,984

Statement of Operations

Statement of Operations - USD ($) $ in Thousands	3 Months Ended	5 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Investment Income:
Interest income from non-controlled/non-affiliated investments	$ 42	$ 43
Total investment income	42	43
Expenses:
Management fees (see note 3)	11	11
Administration fees (see note 3)	0	0
Legal expenses	70	194
Interest and other credit facility expenses (see note 5)	124	154
Organizational expenses	15	131
Audit and tax preparation expenses	45	51
Accounting expenses	35	39
Directors fees	19	38
Other general and administrative expenses	91	106
Total expenses	410	724
Net investment loss	(368)	(681)
Realized and unrealized loss on investments and cash equivalents:
Net realized loss on non-controlled/non-affiliated investments and cash equivalents	0	0
Net change in unrealized loss on non-controlled/non-affiliated investments and cash equivalents	(1)	(1)
Net realized and unrealized loss on non-controlled/non-affiliated investments and cash equivalents	(1)	(1)
Net decrease in unitholders' capital resulting from operations	$ (369)	$ (682)
Net Loss Per Unit	$ (3.08)	$ (5.69)

Statement of Changes in Unithol

Statement of Changes in Unitholders' Capital - USD ($) $ in Thousands	3 Months Ended	5 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Decrease in unitholders' capital resulting from operations:
Net investment loss	$ (368)	$ (681)
Net realized loss	0	0
Net change in unrealized loss	(1)	(1)
Net decrease in unitholders' capital resulting from operations	(369)	(682)
Increase (decrease) in unitholders' capital resulting from capital activity
Contributions	0	3,001
Less offering costs	(1)	(74)
Cancellation	0	(1)
Net increase in unitholders' capital resulting from capital activity	(1)	2,926
Total increase (decrease) in unitholders' capital	(370)	2,244
Unitholders' capital, beginning of period	2,614	0
Unitholders' capital, end of period	$ 2,244	$ 2,244
Capital unit activity (see note 7):
Units issued	0	120,040
Units canceled	0	(40)
Net increase from capital unit activity	0	120,000

Statement Of Cash Flows

Statement Of Cash Flows $ in Thousands	5 Months Ended
	Jun. 30, 2023 USD ($)
Cash Flows from Operating Activities:
Net decrease in unitholders' capital resulting from operations	$ (682)
Adjustments to reconcile net decrease in unitholders' capital resulting from operations to net cash provided by operating activities:
Net realized loss on investments and cash equivalents	0
Net change in unrealized loss on investments	1
(Increase) decrease in operating assets:
Purchase of investments	(1,786)
Net accretion of discount on investments	(1)
Proceeds from disposition of investments	2
Interest receivable	(12)
Prepaid expenses and financing costs	(515)
Increase in operating liabilities:
Payable for cash equivalents purchased	2,984
Management fee payable	11
Administration fee payable	0
Interest payable	63
Other liabilities and accrued expenses	100
Deferred financing costs	79
Net Cash Provided by Operating Activities	244
Cash Flows from Financing Activities:
Contributions from unitholders	3,001
Offering costs	(74)
Cancellation of units	(1)
Proceeds from borrowings	1,671
Repayments of borrowings	(1,750)
Net Cash Provided by Financing Activities	2,847
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,091
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	3,091
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 91

Schedule of Investments - Bank

Schedule of Investments - Bank Debt $ in Thousands	Jun. 30, 2023 USD ($)
Summary of Investment Holdings [Line Items]
Cost	$ 1,785
Fair Value	1,784
Liabilities in Excess of Other Assets	(2,524)
Net Assets	2,244
Total Investments
Summary of Investment Holdings [Line Items]
Cost	1,785
Fair Value	1,784
Total Investments and Cash Equivalents
Summary of Investment Holdings [Line Items]
Cost	4,769
Fair Value	4,768
Bank Debt And Senior Secured Loans
Summary of Investment Holdings [Line Items]
Cost	1,782
Fair Value	1,781
Warrant
Summary of Investment Holdings [Line Items]
Cost	3
Fair Value	$ 3
U.S.Treasury Bill | Cash Equivalents
Summary of Investment Holdings [Line Items]
Industry	Government
Acquisition Date	Jun. 30, 2023
Maturity Date	Aug. 10, 2023
Par Amount	$ 3,000
Cost	2,984
Fair Value	$ 2,984
Health Care Providers And Services | CVAUSA Management LLC | Bank Debt And Senior Secured Loans
Summary of Investment Holdings [Line Items]
Industry	Health Care Providers & Services
Spread above Index	S+650
Floor	1%
Interest Rate	11.59%
Acquisition Date	May 22, 2023
Maturity Date	May 22, 2029
Par Amount	$ 741
Cost	719
Fair Value	$ 719
Health Care Providers And Services | United Digestive MSO Parent LLC | Bank Debt And Senior Secured Loans
Summary of Investment Holdings [Line Items]
Industry	Health Care Providers & Services
Spread above Index	S+675
Floor	1%
Interest Rate	11.99%
Acquisition Date	Mar. 30, 2023
Maturity Date	Mar. 30, 2029
Par Amount	$ 691
Cost	671
Fair Value	$ 670
Health Care Equipment And Supplies | Vertos Medical Inc | Bank Debt And Senior Secured Loans
Summary of Investment Holdings [Line Items]
Industry	Health Care Equipment & Supplies
Spread above Index	S+515
Floor	4.75%
Interest Rate	10.25%
Acquisition Date	Jun. 14, 2023
Maturity Date	Jul. 01, 2028
Par Amount	$ 397
Cost	392
Fair Value	$ 392
Health Care Equipment And Supplies | Vertos Medical Inc | Warrant
Summary of Investment Holdings [Line Items]
Industry	Health Care Equipment & Supplies
Acquisition Date	Jun. 14, 2023
Par Amount	$ 9,646
Cost	3
Fair Value	$ 3

Schedule of Investments - Ban_2

Schedule of Investments - Bank Debt (Parenthetical) $ in Thousands	Jun. 30, 2023 USD ($)
Summary of Investment Holdings [Line Items]
Tax basis of investments gross unrealized depreciation	$ 47
Tax basis of investments gross unrealized appreciation	0
Tax basis of investments cost for income tax purpose	1,831
Tax basis of investments unrealized appreciation depreciation net	$ (47)
Percentage representing bank debt and senior secured loans owned	79.40%
Percentage representing total investments in investments owned	79.50%
Percentage representing assets in excess of other liabilities in investments owned	112.50%
Percentage representing net assets in investments owned	100%
Percentage representing warrants in investments owned	0.10%
Percentage representing cash equivalents in investments owned	133%
Percentage of total investments cash equivalents	212.50%
CVAUSA Management LLC | Health Care Providers And Services | Bank Debt And Senior Secured Loans
Summary of Investment Holdings [Line Items]
Investment receivable variable interest rate spread	6.50%
United Digestive MSO Parent LLC | Health Care Providers And Services | Bank Debt And Senior Secured Loans
Summary of Investment Holdings [Line Items]
Investment receivable variable interest rate spread	6.75%
Vertos Medical Inc
Summary of Investment Holdings [Line Items]
Investment receivable variable interest rate spread	5.15%

Schedule of Investments - Indus

Schedule of Investments - Industry	Jun. 30, 2023
Summary of Investment Holdings [Line Items]
Percentage of Total Investments	100%
Bank Debt And Senior Secured Loans | Health Care Providers And Services | United Digestive MSO Parent LLC
Summary of Investment Holdings [Line Items]
Percentage of Total Investments	77.90%
Bank Debt And Senior Secured Loans | Health Care Equipment And Supplies | Vertos Medical Inc
Summary of Investment Holdings [Line Items]
Percentage of Total Investments	22.10%

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended	5 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (369)	$ (682)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization

Organization	5 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1. Organization SLR Private Credit BDC II LLC (the “Company”, “we”, “us” or “our”) was formed as a limited liability company under the laws of the State of Delaware on April 18, 2022 as a closed-end, In connection with the Company’s formation, the Company issued and sold 40 of the Company’s units (“Units”) to the Adviser (the “Initial Unitholder”), which were acquired for an initial capital contribution of $1 on January 18, 2023 in reliance upon the available exemptions from registration requirements of Section 4(a)(2) of the Securities Act. As of June 30, 2023, the Company has closed on $64,080 in capital commitments. The Company’s initial drawdown occurred on March 31, 2023 with the sale and issuance of units at an aggregate purchase price of $3,000 or $25.00 per unit. Prior to the issuance of units on March 31, 2023, the Initial Unitholder’s initial seed capital was withdrawn from the Company and its Units were canceled. As of June 30, 2023, $3,000 of capital commitments were drawn and $61,080 were unfunded. To seek to achieve its investment objective, the Company expects to invest in directly originated cash flow loans issued to sponsor-owned upper-middle-market companies and in niche specialty finance loans with attractive risk-return characteristics. Borrowers in the Company’s cash flow strategy are expected to typically generate $25,000 to $250,000 or more of EBITDA (defined below), operate in non-cyclical The offering period of the Company is currently expected to be for a period of approximately eighteen months (the “Offering Period”). The Company is expected to conduct its offering pursuant to which investors will make equity capital commitments (“Commitments”) pursuant to a subscription agreement entered into with the Company where the investor will agree to purchase an interest in the Company for an aggregate purchase price equal to its Commitment. Each investor will purchase Units each time the Company delivers a drawdown notice, typically ten The term of the Company is expected to be seven years from the end of the Offering Period (unless terminated earlier or the Company effectuates an Exchange Listing (defined below) as set forth in the Limited Liability Company Agreement of the Company (as amended, restated or otherwise modified from time to time, the “LLC Agreement”)), but may be extended by the Company’s board of directors (the “Board”) for up to two consecutive one year periods upon approval of the Company’s independent directors and the approval of unitholders of the Company (“Unitholders”), which approval will be obtained through a non-1940 At any time prior to the end of the term, subject to any requirements of the 1940 Act and applicable law, the Board may, without the approval of the Unitholders, cause the Company (or any successor entity to the Company) to be merged with and into an affiliated entity that is regulated under the 1940 Act, whose securities are listed for trading on a national securities exchange, and that will have a total net asset value of at least $1,000,000 immediately after the closing of such merger, subject to any limitations under the 1940 Act (an “Exchange Listing”). In connection with, and prior to, any such Exchange Listing, subject to any requirements of the 1940 Act and applicable law, the Board may, without the approval of Unitholders, cause the Company to complete (i) the sale, exchange or disposition of all or a portion of the assets of the Company, or (ii) a conversion of the Company into a corporation incorporated in a state determined by the Board, either through a conversion in accordance with applicable law, a merger with or into an existing corporation, or otherwise, in which all Units will be converted into or exchanged for shares of common stock of the resulting corporation. If the Company is unable to effectuate an Exchange Listing prior to the end of the term, the Company will use commercially reasonable efforts to wind down or liquidate pursuant to the procedures set forth in the LLC Agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	5 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies The accompanying financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”), and include the accounts of the Company. The financial statements reflect all adjustments and reclassifications which, in the opinion of management, are necessary for the fair presentation of the results of the operations and financial condition for the periods presented. Interim financial statements are prepared in accordance with GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q S-X, In the opinion of management, all adjustments which are of a normal recurring nature considered necessary for the fair presentation of financial statements have been included. The significant accounting policies consistently followed by the Company are: (a) Investment transactions are accounted for on the trade date; (b) In accordance with GAAP and the 1940 Act, the Company’s assets will generally be valued as follows: (i) securities or other instruments (other than as referred to in clauses (ii) and (iii) below) for which market quotes are readily available and deemed to represent fair value under GAAP will be valued based on quotes obtained from a quotation reporting system, market makers or pricing services (when deemed to represent fair value under GAAP); (ii) exchange-traded options, futures and options on futures will be valued at the settlement price determined by the exchange or through the use of a model such as Black-Scholes; (iii) short-term investments with maturities of sixty (60) days or less generally will be valued at amortized cost; and (iv) securities, loans or other instruments for which market quotes are not readily available or reliable under GAAP will be valued as described below: a. the quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of SLR responsible for the Portfolio Investment; b. preliminary valuation conclusions are then documented and discussed with senior management of the Adviser; c. the audit committee of the Board reviews the preliminary valuations of the Adviser and third party valuation specialist, if any, that may from time to time be engaged by the Board, and responds to the valuation recommendations to reflect any comments; and d. the Board discusses valuations and determines the fair value of each investment in the Company’s portfolio in good faith based on the input of the Adviser, the audit committee, and third party valuation specialist, if any. The valuation principles set forth above may be modified from time to time without notice to Unitholders, in whole or in part, as determined by the Board in its sole discretion. The Board will also (1) periodically assess and manage valuation risks; (2) establish and apply fair value methodologies; (3) test fair value methodologies; (4) oversee and evaluate third-party pricing services, as applicable; (5) oversee the reporting required by Rule 2a-5 2a-5. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, the Company will consider the pricing indicated by the external event to corroborate the valuation. 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 investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material. Investments in all assets classes will be valued utilizing a market approach, an income approach, or both approaches, as appropriate. However, in accordance with ASC 820-10, ASC Topic 820 classifies the inputs used to measure these fair values into the following hierarchy: Level 1 Level 2 Level 3 In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each investment. The exercise of judgment is based in part on our knowledge of the asset class and our prior experience. (c) Gains or losses on investments are calculated by using the specific identification method. (d) The Company records dividend income and interest, adjusted for amortization of premium and accretion of discount, on an accrual basis. Loan origination fees, original issue discount, and market discounts are capitalized and we amortize such amounts into income using the effective interest method. Upon the prepayment of a loan, any unamortized loan origination fees are recorded as interest income. We record call premiums on loans repaid as interest income when we receive such amounts. Capital structuring fees, amendment fees, consent fees, and any other non-recurring (e) The Company intends to comply with the applicable provisions of the Code pertaining to RICs (f) Book and tax basis differences relating to Unitholder distributions and other permanent book and tax differences are typically reclassified among the Company’s capital accounts annually. In addition, the character of income and gains to be distributed is determined in accordance with income tax regulations that may differ from GAAP. (g) Distributions to Unitholders are recorded as of the record date. The amount to be paid out as a distribution is determined by the Board. Net realized capital gains, if any, are generally distributed or deemed distributed at least annually. (h) In accordance with Regulation S-X Consolidation (i) The accounting records of the Company are maintained in U.S. dollars. Any assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the rate of exchange of such currencies against the U.S. dollar on the date of valuation. The Company will not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations would be included with the net unrealized gain or loss from investments. The Company’s investments in foreign securities, if any, may involve certain risks, including without limitation: foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments in terms of U.S. dollars and therefore the earnings of the Company. (j) In accordance with ASC 835-30, (k) The Company records expenses related to applicable equity offering costs as a charge to capital upon the sale of units, in accordance with ASC 946-20-25. (l) Investments that are expected to pay regularly scheduled interest in cash are generally placed on non-accrual 30 non-accrual (m) The Company records expenses directly related to its organization as incurred. (n) The Company defines cash equivalents as securities that are readily convertible into known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only securities with a maturity of three months or less would qualify, with limited exceptions. The Company believes that certain U.S. Treasury bills, repurchase agreements and other high-quality, short-term debt securities would qualify as cash equivalents.

Agreements and Related Party Tr

Agreements and Related Party Transactions	5 Months Ended
	Jun. 30, 2023
Agreement And Related Party Transactions [Abstract]
Agreements and Related Party Transactions	Note 3. Agreements and Related Party Transactions Pursuant to the Investment Management Agreement we have entered into with the Adviser, we intend to pay the Adviser certain management and incentive fees prior to and following an Exchange Listing. Prior to an Exchange Listing, the Adviser has been appointed to provide administrative and coordination services to the Company (in such capacity, the “Administrative Coordinator”). The Company will pay an administration fee to the Administrative Coordinator for such administrative and coordination services, each as defined and described further below. Following an Exchange Listing, we intend to enter into a separate administration agreement with an affiliate pursuant to which administrative services would be provided to the Company, as described further below. The cost of the base management fee, the incentive fee and the administration fee will ultimately be borne by our Unitholders. Management Fees The Company will pay the Adviser a management fee prior to an Exchange Listing (as the same may be adjusted pursuant to the LLC Agreement and the Investment Management Agreement, the “Pre-Exchange Pre-Exchange • Pre-Exchange Pre-Exchange • Post-Exchange Listing The Management Fee will be appropriately adjusted for any stub period. The Adviser may arrange for the Company to direct to a placement agent any portion of the management fee which the Adviser is owed for purposes of paying any placement fee that the Adviser owes to such placement agent. The Adviser will have the right, in its sole discretion, to waive or reduce, as well as recoup in a subsequent period, the Management Fee to which the Adviser is entitled in respect of all Unitholders’ Units in any particular calendar quarter. Any such Management Fee may be recouped by the Adviser in a future calendar quarter within three years of the date of the applicable waiver of the Management Fee and any such recoupment would be conditioned on the Company’s expense ratio at the time of recoupment, but after giving effect to the recoupment, being equal to or less than the expense ratio at the time of the waiver. The Adviser does not have a current intention to waive any Management Fees. Incentive Fee Distributions Pre-Exchange “Pre-Exchange (i) Disposition Proceeds apportioned to Unitholders shall be divided between and distributed to Unitholders, on the one hand, and paid to the Adviser as a Pre-Exchange (A) First, Return of Capital Contributions: 100% to such Unitholder until such Unitholder has received cumulative distributions of Investment Proceeds pursuant to this clause (A) equal to such Unitholder’s total capital contributions to the Company (including amounts contributed to pay Pre-Exchange Pre-Exchange (B) Second, Unitholder Preferred Return: 100% of all remaining Disposition Proceeds to Unitholders until they have each received cumulative distributions of Investment Proceeds, without duplication, pursuant to this clause (B) and clause (D) below and clause (ii)(A) and (ii)(C) below equal to 6% per annum, compounded annually, on Unitholders’ capital contributions to the Company (including amounts contributed to pay Pre-Exchange Pre-Exchange “—Pre-Exchange (C) Third, Adviser Catch Up: 100% of all remaining Disposition Proceeds to the Adviser as a Pre-Exchange (D) Fourth, 90%/10%: 90% of all remaining Disposition Proceeds to Unitholders and 10% of all remaining Disposition Proceeds to the Adviser as a Pre-Exchange In no event will the Adviser receive amounts of Pre-Exchange In no event will the Adviser receive amounts attributable to Disposition Proceeds that, as of any distribution or payment date, exceed 20% of cumulative realized capital gains net of all cumulative realized capital losses and unrealized capital depreciation. (ii) Current Proceeds apportioned to Unitholders shall be divided between and distributed to Unitholders, on the one hand, and paid to the Adviser as a Pre-Exchange (A) First, Unitholder Preferred Return: 100% of all Current Proceeds to Unitholders until Unitholders have received cumulative distributions of Investment Proceeds, without duplication, pursuant to this clause (A) and clause (C) below and pursuant to clause (i)(B) and clause (i)(D) above equal to the Preferred Return; (B) Second, Adviser Catch Up: 100% of all remaining Current Proceeds to the Adviser as a Pre-Exchange (C) Third, 90%/10%: 90% of all remaining Current Proceeds to Unitholders and 10% of all remaining Current Proceeds to the Adviser as a Pre-Exchange In no event will the Adviser receive amounts of Pre-Exchange Post-Exchange Listing Incentive Fee (i) Pre-Incentive a. For this purpose, Pre-Incentive b. Pre-Incentive Pre-Incentive Pre-Incentive c. The Company will pay the Adviser a Post-Exchange Listing Incentive Fee with respect to the Company’s Pre-Incentive i. no Post-Exchange Listing Incentive Fee in any calendar quarter in which the Company’s Pre-Incentive ii. 100% of the Company’s Pre-Incentive Pre-Incentive Pre-Incentive “catch-up.” “catch-up” Pre-Incentive Pre-Incentive iii. 20% of the amount of the Company’s Pre-Incentive catch-up Pre-Incentive These calculations will be appropriately pro-rated for Capital Gains Fee Administration Fees and Expenses Pre-Exchange “Pre-Exchange Pre-Exchange on-going, non-investment-related The Pre-Exchange The Administrative Coordinator will have the right, in its sole discretion, to waive, as well as recoup in a subsequent period, the Pre-Exchange Pre-Exchange Pre-Exchange Pre-Exchange Post-Exchange Listing Administration Expenses Pre-Exchange For the three months ended June 30, 2023 and the period January 18, 2023 (commencement of operations) to June 30, 2023, the Company incurred $11 and $11, respectively, in Management Fees, $0 and $0, respectively, in Administration Fees and $0 and $0, respectively, in Incentive Fees. In addition, prior to an Exchange Listing, the aggregate amount of the operating expenses relating to Unitholders investing directly in the Company will not exceed the following limits in any fiscal year: (A) if the Company has less than or equal to $400,000 in Commitments, an amount equal to the sum of (x) the product of the Commitments and 0.0025 and (y) $1,250, or (B) if the Company has greater than $400,000 in Commitments, $2,250 (such figure, the “Operating Expense Cap”). Any amount in excess of the Operating Expense Cap for any fiscal year will be paid by the Adviser. For the avoidance of doubt, (i) the Operating Expense Cap will not apply to any fees, costs, expenses and liabilities allocable to persons investing indirectly in the Company through any Unitholder, (ii) the Company will not bear the costs of any third-party valuation agent engaged solely for purposes of valuing the Company’s Portfolio Investments at each quarter end and (iii) the Operating Expense Cap will no longer apply upon the effectuation of an Exchange Listing. The Adviser or Administrative Coordinator and/or their affiliates has advanced organizational and offering expenses to the Company, which include organizational fees, costs, expenses and liabilities of the Company, including legal expenses, incurred in connection with the initial offering of Units and the formation and establishment of the Company (the “Organizational Expenses”). The Adviser or Administrative Coordinator (or such affiliate) will be reimbursed by the Company for such advanced costs and expenses in an amount not to exceed $500. The Company will be responsible for and pay (or reimburse) the Organizational Expenses subject to the cap described in the preceding sentence. Accordingly, as of June 30, 2023, $74 of offering expenses were charged to capital and $131 of organizational costs were expensed.

Fair Value

Fair Value	5 Months Ended
	Jun. 30, 2023
Investments, Fair Value Disclosure [Abstract]
Fair Value	Note 4. Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows: Level 1. Level 2. a) Quoted prices for similar assets or liabilities in active markets; b) Quoted prices for identical or similar assets or liabilities in non-active c) Pricing models whose inputs are observable for substantially the full term of the asset or liability; and d) Pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability. Level 3. When the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. For example, a Level 3 fair value measurement may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Gains and losses for assets and liabilities categorized within the Level 3 table below may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3). A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. Such reclassifications involving Level 3 assets and liabilities are reported as transfers in/out of Level 3 as of the end of the quarter in which the reclassifications occur. Within the fair value hierarchy tables below, cash and cash equivalents are excluded but could be classified as Level 1. The following table presents the balances of assets measured at fair value on a recurring basis, as of June 30, 2023: Fair Value Measurements As of June 30, 2023 Level 1 Level 2 Level 3 Total Assets: Bank Debt/Senior Secured Loans $ — $ — $ 1,781 $ 1,781 Warrants — — 3 3 Total Investments $ — $ — $ 1,784 $ 1,784 The following table provides a summary of the changes in fair value of Level 3 assets for the three months ended June 30, 2023 and the period January 18, 2023 (commencement of operations) to June 30, 2023, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets still held at June 30, 2023: Bank Debt/Senior Warrants Total Fair value, March 31, 2023 $ 672 $ — $ 672 Total gains or losses included in earnings: Net realized loss — — — Net change in unrealized loss (1 ) — (1 ) Purchase of investment securities 1,112 3 1,115 Proceeds from dispositions of investment securities (2 ) — (2 ) Transfers into Level 3 — — — Transfers out of Level 3 — — — Fair value, June 30, 2023 $ 1,781 $ 3 $ 1,784 Bank Debt/Senior Warrants Total Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized loss $ (1 ) $ — $ (1 ) Bank Debt/Senior Warrants Total Fair value, January 18, 2023 $ — $ — $ — Total gains or losses included in earnings: Net realized loss — — — Net change in unrealized loss (1 ) — (1 ) Purchase of investment securities 1,784 3 1,787 Proceeds from dispositions of investment securities (2 ) — (2 ) Transfers into Level 3 — — — Transfers out of Level 3 — — — Fair value, June 30, 2023 $ 1,781 $ 3 $ 1,784 Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized loss $ (1) $ — $ (1) Quantitative Information about Level 3 Fair Value Measurements The Company typically determines the fair value of its performing debt investments utilizing a yield analysis. In a yield analysis, a price is ascribed for each investment based upon an assessment of current and expected market yields for similar investments and risk profiles. Additional consideration is given to current contractual interest rates, relative maturities and other key terms and risks associated with an investment. Among other factors, a significant determinant of risk is the amount of leverage used by the portfolio company relative to the total enterprise value of the company, and the rights and remedies of our investment within each portfolio company. Significant unobservable quantitative inputs typically used in the fair value measurement of the Company’s Level 3 assets and liabilities primarily reflect current market yields, including indices, and readily available quotes from brokers, dealers, and pricing services as indicated by comparable assets and liabilities, as well as enterprise values, returns on equity and earnings before income taxes, depreciation and amortization (“EBITDA”) multiples of similar companies, and comparable market transactions for equity securities. Quantitative information about the Company’s Level 3 asset fair value measurements as of June 30, 2023 is summarized in the table below: Asset or Liability Fair Value at June 30, 2023 Principal Valuation Technique/Methodology Unobservable Input Range (Weighted Average) Bank Debt / Senior Secured Loans Asset $ 1,781 Income Market Yield 12.6% – 13.1% Warrants Asset $ 3 Market Volatility 17.3% - 17.3% Significant increases or decreases in any of the above unobservable inputs in isolation, including unobservable inputs used in deriving bid-ask

Debt

Debt	5 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Note 5. Debt On March 20, 2023, the Company established a $25,000 revolving credit facility due March 20, 2025 (the “Subscription Facility”) with ING Capital LLC, as administrative agent and lender. The stated interest rate on the Subscription Facility is SOFR plus 2.75-3.00%. The average annualized interest cost for borrowings for the period March 20, 2023 (commencement of the Subscription Facility) to June 30, 2023 was 7.74%. These costs are exclusive of other credit facility expenses such as unused fees. The maximum amount borrowed on the Subscription Facility during the period March 20, 2023 (commencement of the Subscription Facility) to June 30, 2023 was $1,750.

Commitments and Contingencies

Commitments and Contingencies	5 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6. Commitments and Contingencies The Company had unfunded debt commitments to various revolving and delayed-draw term loans. The total amount of these unfunded commitments as of June 30, 2023 is $1,660, comprised of the following: June 30, 2023 CVAUSA Management, LLC $ 1,189 United Digestive MSO Parent, LLC 273 Vertos Medical, Inc. 198 Total Commitments $ 1,660 The credit agreements of the above loan commitments contain customary lending provisions and/or are subject to the portfolio company’s achievement of certain milestones that allow relief to the Company from funding obligations for previously made commitments in instances where the underlying company experiences materially adverse events that affect the financial condition or business outlook for the company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company. As of June 30, 2023, the Company had sufficient cash available and/or liquid securities available to fund its commitments and had reviewed them for any appropriate fair value adjustment. In the normal course of its business, we invest or trade in various financial instruments and may enter into various investment activities with off-balance off-balance

Unitholders' Capital

Unitholders' Capital	5 Months Ended
	Jun. 30, 2023
Limited Liability Company (LLC) Members' Equity [Abstract]
Unitholders' capital	Note 7. Unitholders’ Capital Transactions in Unitholders’ capital were as follows: Three months For the period January 18, Units at beginning of period 120,000 — Units issued — 120,040 Units canceled — (40 ) Units issued and outstanding at end of period 120,000 120,000 * Commencement of operations

Financial Highlights

Financial Highlights	5 Months Ended
	Jun. 30, 2023
Investment Company, Financial Highlights [Abstract]
Financial Highlights	Note 8. Financial Highlights The following is a schedule of financial highlights for the period January 18, 2023 (commencement of operations) to June 30, 2023: For the period Per Share Data: (a) Net asset value per unit, beginning of period $ — Net investment loss (5.68 ) Net realized and unrealized loss (0.01 ) Net decrease in Unitholders’ capital resulting from operations (5.69 ) Issuance of units 25.00 Offering costs (0.61 ) Net asset value per unit, end of period $ 18.70 Total Return (b)(c) (25.24 %) Unitholders’ capital, end of period $ 2,244 Units outstanding, end of period 120,000 Ratios to average net assets of Unitholders’ Capital (c): Net investment loss (26.11 %) Operating expenses 21.83 % Interest and other credit facility expenses 5.92 % Total expenses 27.75 % Average debt outstanding $ 182 Portfolio turnover ratio 0.2 % (a) Calculated using the average units outstanding method. Weighted average units outstanding for the period March 31, 2023 (date of first sale of Units to Unitholders) through June 30, 2023 were 120,000. (b) Calculated as the change in NAV per unit during the period plus distributions declared per unit, divided by the beginning NAV per unit. Total return does not include a sales load. The beginning NAV per unit was determined to be as of the date of the first sale of Units to Unitholders as management considers this to be the most meaningful disclosure for investors. (c) Not annualized for periods less than one year. Average net assets are calculated for the period March 31, 2023 (date of first sale of Units to Unitholders) through June 30, 2023. * Commencement of operations

Subsequent Events

Subsequent Events	5 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 9. Subsequent Events The Company has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. There have been no subsequent events that require recognition or disclosure in these financial statements.

Fair Value (Tables)

Fair Value (Tables)	5 Months Ended
	Jun. 30, 2023
Investments, Fair Value Disclosure [Abstract]
Summary of the Balances of Assets Measured at Fair Value	The following table presents the balances of assets measured at fair value on a recurring basis, as of June 30, 2023: Fair Value Measurements As of June 30, 2023 Level 1 Level 2 Level 3 Total Assets: Bank Debt/Senior Secured Loans $ — $ — $ 1,781 $ 1,781 Warrants — — 3 3 Total Investments $ — $ — $ 1,784 $ 1,784
Summary of the Changes in Fair Value of Level 3 Assets	The following table provides a summary of the changes in fair value of Level 3 assets for the three months ended June 30, 2023 and the period January 18, 2023 (commencement of operations) to June 30, 2023, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets still held at June 30, 2023: Bank Debt/Senior Warrants Total Fair value, March 31, 2023 $ 672 $ — $ 672 Total gains or losses included in earnings: Net realized loss — — — Net change in unrealized loss (1 ) — (1 ) Purchase of investment securities 1,112 3 1,115 Proceeds from dispositions of investment securities (2 ) — (2 ) Transfers into Level 3 — — — Transfers out of Level 3 — — — Fair value, June 30, 2023 $ 1,781 $ 3 $ 1,784 Bank Debt/Senior Warrants Total Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized loss $ (1 ) $ — $ (1 ) Bank Debt/Senior Warrants Total Fair value, January 18, 2023 $ — $ — $ — Total gains or losses included in earnings: Net realized loss — — — Net change in unrealized loss (1 ) — (1 ) Purchase of investment securities 1,784 3 1,787 Proceeds from dispositions of investment securities (2 ) — (2 ) Transfers into Level 3 — — — Transfers out of Level 3 — — — Fair value, June 30, 2023 $ 1,781 $ 3 $ 1,784 Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized loss $ (1) $ — $ (1)
Summary of Quantitative Information about the Company's Level 3 Asset Fair Value Measurements	Quantitative information about the Company’s Level 3 asset fair value measurements as of June 30, 2023 is summarized in the table below: Asset or Liability Fair Value at June 30, 2023 Principal Valuation Technique/Methodology Unobservable Input Range (Weighted Average) Bank Debt / Senior Secured Loans Asset $ 1,781 Income Market Yield 12.6% – 13.1% Warrants Asset $ 3 Market Volatility 17.3% - 17.3%

Commitments and Contingencies (

Commitments and Contingencies (Tables)	5 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary Of Unfunded Debt Commitments	June 30, 2023 CVAUSA Management, LLC $ 1,189 United Digestive MSO Parent, LLC 273 Vertos Medical, Inc. 198 Total Commitments $ 1,660

Unitholders' Capital (Tables)

Unitholders' Capital (Tables)	5 Months Ended
	Jun. 30, 2023
Limited Liability Company (LLC) Members' Equity [Abstract]
Summary Of Transactions In Unitholders Capital	Three months For the period January 18, Units at beginning of period 120,000 — Units issued — 120,040 Units canceled — (40 ) Units issued and outstanding at end of period 120,000 120,000 * Commencement of operations

Financial Highlights (Tables)

Financial Highlights (Tables)	5 Months Ended
	Jun. 30, 2023
Investment Company, Financial Highlights [Abstract]
Summary of Financial Highlights	The following is a schedule of financial highlights for the period January 18, 2023 (commencement of operations) to June 30, 2023: For the period Per Share Data: (a) Net asset value per unit, beginning of period $ — Net investment loss (5.68 ) Net realized and unrealized loss (0.01 ) Net decrease in Unitholders’ capital resulting from operations (5.69 ) Issuance of units 25.00 Offering costs (0.61 ) Net asset value per unit, end of period $ 18.70 Total Return (b)(c) (25.24 %) Unitholders’ capital, end of period $ 2,244 Units outstanding, end of period 120,000 Ratios to average net assets of Unitholders’ Capital (c): Net investment loss (26.11 %) Operating expenses 21.83 % Interest and other credit facility expenses 5.92 % Total expenses 27.75 % Average debt outstanding $ 182 Portfolio turnover ratio 0.2 % (a) Calculated using the average units outstanding method. Weighted average units outstanding for the period March 31, 2023 (date of first sale of Units to Unitholders) through June 30, 2023 were 120,000. (b) Calculated as the change in NAV per unit during the period plus distributions declared per unit, divided by the beginning NAV per unit. Total return does not include a sales load. The beginning NAV per unit was determined to be as of the date of the first sale of Units to Unitholders as management considers this to be the most meaningful disclosure for investors. (c) Not annualized for periods less than one year. Average net assets are calculated for the period March 31, 2023 (date of first sale of Units to Unitholders) through June 30, 2023. * Commencement of operations

Organization - Additional Infor

Organization - Additional Information (Details)	5 Months Ended
	Jun. 30, 2023 USD ($) $ / shares
Nature Of Operations [Line Items]
Date of incorporation	Apr. 18, 2022
Investment company capital commitement	$ 64,080
Stock issued during the period net of shares repurchased and cancelled value	$ 3,000
Common units issued price per share | $ / shares	$ 25
Capital commitments drawn	$ 3,000
Undrawn capital commitment	$ 61,080
Offering period for offer of shares to the investors	18 months
Time gap between the date of issuance of units and the funding date	10 days
Threshold minimum net assets of the acquire post acquisition to be maintained	$ 1,000,000
Maximum [Member]
Nature Of Operations [Line Items]
Investment company capital commitement	400,000,000
Estimated earnings before interest tax depreciation and amortization of the borrower	250,000
Minimum [Member]
Nature Of Operations [Line Items]
Investment company capital commitement	400,000,000
Estimated earnings before interest tax depreciation and amortization of the borrower	$ 25,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details)	5 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Excise tax rate applicable on taxable income In excess of distributions	4%
Number of days for either the principal or interest to be overdue for investments to be classified under non accrual	30 days

Agreements and Related Party _2

Agreements and Related Party Transactions - Additional Information (Details)	3 Months Ended	5 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($) Product
Agreement And Related Party Transactions [Line Items]
Preexchange listing fees as a percentage of invested capital on the last day of each calendar quarter	1.50%	1.50%
Post exchange listing management fees as a percentage of average value of companies total assets based on the recently completed two calendar quarters	1.50%	1.50%
Post Exchange Listing Management Fees Base Percentage Of Average Value Of Companies Total Assets Based On The Recently Completed Two Calendar Quarters	1%	1%
Factor for calculating the post exchange listing management fees	200%	200%
Return of capital contributions as percentage of proceeds received from the investor including amount contributed towards fees	100%	100%
Return of capital contributions as a percentage of proceeds received from the investor including amount contributed towards fees to preferred unit holders	100%	100%
Return of capital contribution compound interest payable percentage	6%	6%
Percentage of the remaining amount after distribution to unit holders payable to advisors towards pre exchange listing incentive fees	100%	100%
Percentage of distribution to unit holders payable as advisor fees at the time of disposition	10%	10%
Percentage of remaining proceeds to unit holders payable after distribution to unit holder preferred unit holders and administration fees	90%	90%
Percentage of all remaining disposition proceeds payable to advisor towards preexchange listing incentive fees	10%	10%
Advisor fees as a percentage of cumulative realized capital gains net of all cumulative realized capitai losses and capital depreciation percentage	20%	20%
Percentage of current distributions payable to unit holders	100%	100%
Remaining current proceeds payable to advisors towards percentage	100%	100%
Remaining current proceeds payable to advisors towards fees as percentage of total amount due to unit holders	10%	10%
Percentage remaining after distribution of current proceeds payable to unit holders	90%	90%
Percentage remaining after distribution of current proceeds payable to advisors towards fees	10%	10%
Preincentive fee net investment income hurdle rate percentage per quarter	1.75%	1.75%
Preincentive fee net investment income hurdle rate percentage per annum	7%	7%
Post exchange listing management fees percentage	1.50%	1.50%
Post exchange listing fees admissible if the preincentive fee net investment income does not exceed the threshold rate percentage		0%
Percentage of preincentive fee net income that exceeds the hurdle rate one		100%
Preincentive fee net investment income hurdle rate percentage per quarter two		2.1875%
Preincentive fee net investment income hurdle rate percentage per annum Two		8.75%
Percentage of preincentive fee net income in excess of hurdle rate two towards advisor fees		20%
Percentage of preincentive fee net investment towards advisory fees once the hurdle rate is reached in its entirety	20%	20%
Pre exchange listing administration fees as a percentage of the average investments for the current and the preceeding quarter		0.08%
Investment company comitted capital		$ 64,080
Factor for calculating the lower limit in respect of operating expenses relating to unit holders | Product		0.0025
Monetary factor for calculating the lower limit in respect of operating expenses relating to unit holders		$ 1,250,000
Operating expenses relating to unit holders maximum limit		2,250,000
Reimbursement towards administration expenses threshold limit maximum		500,000
Investment company offering costs incurred value	$ 1,000	74,000
Organizational expenses	$ 15,000	$ 131,000
Percentage of capital gains fee payable on capital gains	20%	20%
Maximum [Member]
Agreement And Related Party Transactions [Line Items]
Investment company comitted capital		$ 400,000,000
Minimum [Member]
Agreement And Related Party Transactions [Line Items]
Investment company comitted capital		400,000,000
Post Exchange Listing Administration Expenses [Member] | SLR Capital Management LLC [Member]
Agreement And Related Party Transactions [Line Items]
Management fee expenses	$ 11,000	11,000
Administration fees expenses	0	0
Incentive fee expenses	$ 0	$ 0

Fair Value - Summary of the Bal

Fair Value - Summary of the Balances of Assets Measured at Fair Value (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	$ 1,784
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	1,784
Bank Debt And Senior Secured Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	1,781
Bank Debt And Senior Secured Loans [Member] | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	0
Bank Debt And Senior Secured Loans [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	0
Bank Debt And Senior Secured Loans [Member] | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	1,781
Warrant [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	3
Warrant [Member] | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	0
Warrant [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	0
Warrant [Member] | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments, fair value disclosure	$ 3

Fair Value - Summary of the Cha

Fair Value - Summary of the Changes in Fair Value of Level 3 Assets (Details) - USD ($) $ in Thousands	3 Months Ended	5 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 672	$ 0
Total gains or losses included in earnings:
Net realized loss	0	0
Net change in unrealized loss	(1)	(1)
Purchase of investment securities	1,115	1,787
Proceeds from dispositions of investment securities	(2)	(2)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending balance	1,784	1,784
Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period:
Net change in unrealized loss	(1)	(1)
Bank Debt And Senior Secured Loans [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	672	0
Total gains or losses included in earnings:
Net realized loss	0	0
Net change in unrealized loss	(1)	(1)
Purchase of investment securities	1,112	1,784
Proceeds from dispositions of investment securities	(2)	(2)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending balance	1,781	1,781
Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period:
Net change in unrealized loss	(1)	(1)
Warrant [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0	0
Total gains or losses included in earnings:
Net realized loss	0	0
Net change in unrealized loss	0	0
Purchase of investment securities	3	3
Proceeds from dispositions of investment securities	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending balance	3	3
Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period:
Net change in unrealized loss	$ 0	$ 0

Fair Value - Summary of Quantit

Fair Value - Summary of Quantitative Information about the Company's Level 3 Asset Fair Value Measurements (Details) $ in Thousands	5 Months Ended
	Jun. 30, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, fair value disclosure	$ 1,784
Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, fair value disclosure	1,784
Bank Debt And Senior Secured Loans [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, fair value disclosure	$ 1,781
Principal Valuation Technique/Methodology	Income Approach
Unobservable Input	Market Yield
Maximum [Member] | Bank Debt And Senior Secured Loans [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range (Weighted Average)	13.10%
Minimum [Member] | Bank Debt And Senior Secured Loans [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range (Weighted Average)	12.60%
Weighted Average [Member] | Bank Debt And Senior Secured Loans [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range (Weighted Average)	12.80%
Warrant [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, fair value disclosure	$ 3
Warrant [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, fair value disclosure	3
Warrant [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, fair value disclosure	$ 3
Principal Valuation Technique/Methodology	Market Approach
Unobservable Input	Volatility
Warrant [Member] | Maximum [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range (Weighted Average)	17.30%
Warrant [Member] | Minimum [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range (Weighted Average)	17.30%
Warrant [Member] | Weighted Average [Member] | Market Yield [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range (Weighted Average)	17.30%

Debt - Additional Information (

Debt - Additional Information (Details) - Subscription Facility [Member] - USD ($) $ in Thousands		3 Months Ended
	Mar. 20, 2023	Jun. 30, 2023
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25,000
Long-term line of credit		$ 0
Line of credit facility, interest rate during period		7.74%
Line of credit facility, maximum amount outstanding during period		$ 1,750
Maximum [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	3%
Minimum [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.75%

Commitments and Contingencies -

Commitments and Contingencies - Summary Of Unfunded Debt Commitments (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Other Commitments [Line Items]
Other commitment	$ 1,660
Unfunded Debt And Equity Commitments [Member]
Other Commitments [Line Items]
Other commitment	1,660
CVAUSA Management LLC | Unfunded Debt And Equity Commitments [Member]
Other Commitments [Line Items]
Other commitment	1,189
United Digestive MSO Parent LLC [Member] | Unfunded Debt And Equity Commitments [Member]
Other Commitments [Line Items]
Other commitment	273
Vertos Medical Inc [Member] | Unfunded Debt And Equity Commitments [Member]
Other Commitments [Line Items]
Other commitment	$ 198

Commitments and Contingencies_2

Commitments and Contingencies - Additional information (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Other Commitments [Abstract]
Other commitment	$ 1,660

Unitholders' Capital - Summary

Unitholders' Capital - Summary Of Transactions In Unitholders Capital (Details) - shares	3 Months Ended	5 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Limited Liability Company (LLC) Members' Equity [Abstract]
Units at beginning of period	120,000	0
Units issued	0	120,040
Units canceled	0	(40)
Units issued and outstanding at end of period	120,000	120,000

Financial Highlights - Summary

Financial Highlights - Summary of Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	5 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jan. 17, 2023
Per Share Data:
Net asset value per unit, beginning of period		$ 0
Net investment loss		(5.68)
Net realized and unrealized loss		(0.01)
Net decrease in Unitholders' capital resulting from operations	$ (3.08)	(5.69)
Issuance of units	25	25
Offering costs	(0.61)	(0.61)
Net asset value per unit, end of period	$ 18.7	$ 18.7
Total Return		(25.24%)
Unitholders' capital, end of period	$ 2,244	$ 2,244
Units outstanding, end of period	120,000	120,000	120,000	0
Ratios to average net assets of Unitholders' Capital:
Net investment loss		(26.11%)
Operating expenses		21.83%
Interest and other credit facility expenses		5.92%
Total expenses		27.75%
Average debt outstanding		$ 182
Portfolio turnover ratio		0.20%

Financial Highlights - Summar_2

Financial Highlights - Summary of Financial Highlights (Parenthetical) (Details) - shares	Jun. 30, 2023	Mar. 31, 2023	Jan. 17, 2023
Investment Company, Financial Highlights [Line Items]
Common Unit, Outstanding	120,000	120,000	0
Weighted Average [Member]
Investment Company, Financial Highlights [Line Items]
Common Unit, Outstanding	120,000