KKR Infrastructure Conglomerate 10-Q 13 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	000-56484
Entity Registrant Name	KKR Infrastructure Conglomerate LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	92-0477563
Entity Address, Address Line One	30 Hudson Yards,
Entity Address, City	New York,
Entity Address, State	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	750-8300
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 Central Index Key	0001948056
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class I Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,181,551
Class S Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,656,746
Class U Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		46,999,153
Class R-D Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		765,609
Class R Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		29,411,348
Class D Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		867,134
Class E Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40
Class F Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,191,769
Class G Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40
Class H Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40

Consolidated Statements of Asse

Consolidated Statements of Assets and Liabilities - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Investments at fair value (cost of $2,506,587 and $895,257, respectively)	$ 2,826,612	$ 983,552
Cash and cash equivalents	291,591	278,417
Foreign currencies at fair value (cost of $4,459 and $—, respectively)	4,563	0
Deferred financing costs	9,373	0
Prepaids and other assets	100	0
Deferred offering costs	0	826
Due from Manager	$ 0	$ 16,549
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Manager	Manager
Dividends receivable	$ 1,544	$ 1,429
Unrealized appreciation on foreign currency forward contracts	0	28
Total assets	3,133,783	1,280,801
Liabilities
Unrealized depreciation on foreign currency forward contracts	5,238	18,890
Line of credit	249,128	0
Accrued performance participation allocation	33,038	8,335
Accrued shareholder servicing fees and distribution fees	101,308	51,440
Distributions payable	25,590	9,480
Directors' fees and expenses payable	115	116
Payable for settlement of foreign currency forward contracts	65,310	0
Other accrued expenses and liabilities	12,034	2,938
Due to Manager and affiliates	$ 6,129	$ 19,174
Accounts Payable, Related Party, Type [Extensible Enumeration]	Manager	Manager
Organization costs payable	$ 0	$ 48
Offering costs payable	0	8
Total liabilities	497,890	110,429
Commitments and contingencies (Note 9)
Net assets	2,635,893	1,170,372
Class I Shares
Liabilities
Net assets	244,448	3,552
Class S Shares
Liabilities
Net assets	279,848
Class U Shares
Liabilities
Net assets	1,241,328	706,586
Class R-D Shares
Liabilities
Net assets	21,026	9,328
Class R Shares
Liabilities
Net assets	825,633	449,523
Class D Shares
Liabilities
Net assets	21,984	11
Class E Shares
Liabilities
Net assets	1	1
Class F Shares
Liabilities
Net assets	1,623	1,369
Class G Shares
Liabilities
Net assets	1	1
Class H Shares
Liabilities
Net assets	$ 1	$ 1

Consolidated Statements of As_2

Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Investments at cost	$ 2,506,587	$ 895,257
Foreign currencies, cost	$ 4,459	$ 0
Class I Shares
Shares authorized (in shares)	8,652,114	131,691
Shares issued (in shares)	8,652,114	131,691
Shares outstanding (in shares)	8,652,114	131,691
Class S Shares
Shares authorized (in shares)	10,587,646
Shares issued (in shares)	10,587,646
Shares outstanding (in shares)	10,587,646
Class U Shares
Shares authorized (in shares)	46,754,980	28,088,229
Shares issued (in shares)	46,754,980	28,088,229
Shares outstanding (in shares)	46,754,980	28,088,229
Class R-D Shares
Shares authorized (in shares)	758,156	353,076
Shares issued (in shares)	758,156	353,076
Shares outstanding (in shares)	758,156	353,076
Class R Shares
Shares authorized (in shares)	29,221,814	16,671,146
Shares issued (in shares)	29,221,814	16,671,146
Shares outstanding (in shares)	29,221,814	16,671,146
Class D Shares
Shares authorized (in shares)	793,618	380
Shares issued (in shares)	793,618	380
Shares outstanding (in shares)	793,618	380
Class E Shares
Shares authorized (in shares)	40	40
Shares issued (in shares)	40	40
Shares outstanding (in shares)	40	40
Class F Shares
Shares authorized (in shares)	55,709	49,830
Shares issued (in shares)	55,709	49,830
Shares outstanding (in shares)	55,709	49,830
Class G Shares
Shares authorized (in shares)	40	40
Shares issued (in shares)	40	40
Shares outstanding (in shares)	40	40
Class H Shares
Shares authorized (in shares)	40	40
Shares issued (in shares)	40	40
Shares outstanding (in shares)	40	40

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment income
Dividend and other income	$ 14,708	$ 7,884	$ 29,262	$ 8,568
Total investment income	14,708	7,884	29,262	8,568
Operating expenses
Performance participation allocation	13,991	1,281	24,728	2,595
Management fee expense	6,834	1,357	15,861	1,532
General and administration expenses	3,173	4,595	10,262	6,261
Interest expense	909	0	1,997	0
Directors' fees and expenses	115	115	369	230
Deferred offering costs amortization	0	495	825	661
Organization costs	0	0	0	3,333
Total operating expenses	25,022	7,843	54,042	14,612
Less: Expenses reimbursed by Manager	0	(3,906)	(2,377)	(8,640)
Add: Expenses recouped by Manager	776	0	816	0
Less: Management fee and expense credits	(6,834)	(339)	(17,251)	(339)
Net operating expenses	18,964	3,598	35,230	5,633
Net investment income (loss)	(4,256)	4,286	(5,968)	2,935
Net realized gain (loss) on investments, foreign currency and foreign currency forward contracts
Foreign currency	729	0	(955)	0
Foreign currency forward contracts	(65,339)	0	(65,602)	0
Total net realized gain (loss)	(64,610)	0	(66,557)	0
Net change in unrealized appreciation (depreciation) before income taxes on
Investments	80,972	4,893	157,960	23,885
Foreign currency translation	104	0	104	0
Foreign currency translation	92,471	(13,281)	73,768	(849)
Foreign currency forward contracts	(6,809)	13,777	13,625	6,270
Total net change in unrealized appreciation (depreciation) before income taxes	166,738	5,389	245,457	29,306
Provision for (benefit from) income taxes	564	0	1,492	0
Total net change in unrealized appreciation (depreciation) after income taxes	166,174	5,389	243,965	29,306
Net increase in net assets resulting from operations	$ 97,308	$ 9,675	$ 171,440	$ 32,241

Consolidated Statement of Chang

Consolidated Statement of Changes in Net Assets - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 2,174,671	$ 461,910	$ 1,170,372	$ 1
Consideration from the issuance of shares	392,044	566,753	1,380,957	1,210,012
Repurchases of shares	(1,060)	(262,727)	(3,091)	(457,727)
Reinvestment of distributions	15,838		33,920
Transfers in	1,179		30,573
Transfers out	(1,179)		(30,573)
Accrued shareholder servicing fees and distribution fees	(17,370)	(22,878)	(56,550)	(31,793)
Distributions declared	(25,591)	(4,821)	(61,303)	(4,821)
Early repurchase fee	53		148
Net investment income (loss)	(4,256)	4,286	(5,968)	2,934
Net realized gain (loss)	(64,610)	0	(66,557)	0
Net change in unrealized appreciation (depreciation)	166,174	5,389	243,965	29,306
Ending balance	2,635,893	747,912	2,635,893	747,912
Class I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	69,772	0	3,552	0
Consideration from the issuance of shares	169,846	1,086	220,714	1,086
Reinvestment of distributions	496		498
Transfers in	38		18,823
Transfers out			(3,552)
Distributions declared	(2,596)	(5)	(3,334)	(5)
Early repurchase fee	4		5
Net investment income (loss)	(162)	7	(261)	7
Net realized gain (loss)	(5,783)		(5,819)
Net change in unrealized appreciation (depreciation)	12,833	3	13,822	3
Ending balance	244,448	1,091	244,448	1,091
Class S Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	76,499		0
Consideration from the issuance of shares	211,164		290,362
Reinvestment of distributions	558		558
Transfers in			2,568
Accrued shareholder servicing fees and distribution fees	(14,564)		(20,049)
Distributions declared	(2,542)		(3,232)
Early repurchase fee	5		5
Net investment income (loss)	(223)		(350)
Net realized gain (loss)	(7,071)		(7,110)
Net change in unrealized appreciation (depreciation)	16,022		17,096
Ending balance	279,848		279,848
Class U Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,199,492	122,182	706,586	0
Consideration from the issuance of shares	(1)	343,780	496,346	469,089
Repurchases of shares	(1,033)		(2,278)
Reinvestment of distributions	8,484		18,845
Transfers out	(1,179)		(5,725)
Accrued shareholder servicing fees and distribution fees	(2,566)	(22,876)	(35,834)	(31,791)
Distributions declared	(11,231)	(2,455)	(30,233)	(2,455)
Early repurchase fee	27		84
Net investment income (loss)	(2,349)	2,621	(3,239)	1,723
Net realized gain (loss)	(31,163)		(32,301)
Net change in unrealized appreciation (depreciation)	82,847	2,853	129,077	9,539
Ending balance	1,241,328	446,105	1,241,328	446,105
Class R-D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	20,253		9,328
Consideration from the issuance of shares			10,097
Reinvestment of distributions	201		392
Transfers in			527
Accrued shareholder servicing fees and distribution fees	(14)		(225)
Distributions declared	(214)		(542)
Early repurchase fee			1
Net investment income (loss)	(38)		(58)
Net realized gain (loss)	(506)		(524)
Net change in unrealized appreciation (depreciation)	1,344		2,030
Ending balance	21,026		21,026
Class R Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	796,428	77,351	449,523	0
Consideration from the issuance of shares		220,790	338,837	294,726
Repurchases of shares	(27)		(813)
Reinvestment of distributions	5,995		13,516
Transfers in	1,141		8,655
Transfers out	0		(18,728)
Distributions declared	(8,767)	(2,009)	(23,577)	(2,009)
Early repurchase fee	17		53
Net investment income (loss)	(1,471)	1,633	(2,037)	1,103
Net realized gain (loss)	(19,519)		(20,229)
Net change in unrealized appreciation (depreciation)	51,836	1,847	80,433	5,792
Ending balance	825,633	299,612	825,633	299,612
Class D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	10,726	0	11	0
Consideration from the issuance of shares	10,963	118	21,882	118
Reinvestment of distributions	103		103
Accrued shareholder servicing fees and distribution fees	(226)	(2)	(441)	(2)
Distributions declared	(224)	(1)	(333)	(1)
Net investment income (loss)	(19)	1	(36)	1
Net realized gain (loss)	(530)		(535)
Net change in unrealized appreciation (depreciation)	1,191	1	1,333	1
Ending balance	21,984	117	21,984	117
Class R-S Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			0
Consideration from the issuance of shares			2,557
Reinvestment of distributions			6
Transfers in			0
Transfers out			(2,568)
Accrued shareholder servicing fees and distribution fees			(1)
Distributions declared			(6)
Net change in unrealized appreciation (depreciation)			12
Ending balance	0		0
Class E Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1	262,375	1	0
Consideration from the issuance of shares				444,013
Repurchases of shares		(262,727)		(457,727)
Distributions declared		(347)		(347)
Net investment income (loss)		16		92
Net change in unrealized appreciation (depreciation)		683		13,969
Ending balance	1	0	1	0
Class F Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,498	0	1,369	0
Consideration from the issuance of shares	72	979	162	979
Reinvestment of distributions	1		2
Distributions declared	(17)	(4)	(46)	(4)
Net investment income (loss)	6	8	13	8
Net realized gain (loss)	(38)		(39)
Net change in unrealized appreciation (depreciation)	101	2	162	2
Ending balance	1,623	985	1,623	985
Class G Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1	1	1	1
Ending balance	1	1	1	1
Class H Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1	1	1	0
Consideration from the issuance of shares				1
Ending balance	$ 1	$ 1	$ 1	$ 1

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net increase in net assets from operations	$ 171,440	$ 32,241
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:
Class F Shares issued as payment of Management Fees	0	888
Class F Shares issued as payment of directors' fees and expenses	137	91
Class F Shares issued as payment of performance participation allocation	25	0
Deferred financing costs amortization	1,146	0
Deferred offering costs amortization	825	661
Acquisition of Infrastructure Assets	(1,290,124)	(12,500)
Proceeds from return of capital on Infrastructure Assets	2,353	0
Net change in unrealized (appreciation) depreciation on investments	(157,960)	(23,885)
Net change in unrealized (appreciation) depreciation on foreign currency translation	(73,768)	849
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts	(13,625)	(6,270)
Changes in operating assets and liabilities:
(Increase) Decrease in prepaids and other assets	(100)	480
(Increase) Decrease in deferred offering costs	0	(1,315)
(Increase) Decrease in due from Manager	16,549	(8,639)
(Increase) Decrease in dividends receivable	(115)	(1,297)
Increase (Decrease) in management fee payable	0	306
Increase (Decrease) in accrued performance participation allocation	24,703	2,595
Increase (Decrease) in directors' fees and expenses payable	(1)	115
Increase (Decrease) in payable for settlement of foreign currency forward contracts	65,310	0
Increase (Decrease) in other accrued expenses and liabilities	4,669	3,403
Increase (Decrease) in due to Manager	(15,037)	7,376
Increase (Decrease) in organization costs payable	(48)	(1,154)
Increase (Decrease) in offering costs payable	(8)	826
Net cash used in operating activities	(1,263,629)	(5,229)
Financing activities
Proceeds from issuance of shares	1,380,795	765,021
Proceeds from credit facility	150,000	0
Repayment of credit facility	(150,000)	0
Repayment of line of credit	(70,000)	0
Payment of deferred financing costs	(8,280)	0
Payment on repurchases of shares	(2,943)	(457,727)
Payment of shareholder servicing fees and distribution fees	(4,959)	0
Payment for offering costs	(1,974)	0
Distributions	(11,273)	0
Net cash provided by financing activities	1,281,366	307,294
Net increase in cash and cash equivalents and foreign currencies at fair value	17,737	302,065
Cash and cash equivalents and foreign currencies at fair value, beginning of period	278,417	1
Cash and cash equivalents and foreign currencies at fair value, end of period	296,154	302,066
Supplemental disclosure of cash flow information
Proceeds from credit facility	319,128	0
Change in shareholder servicing fees and distribution fees payable	56,550	0
Reinvestment of distributions	33,920	0
Change in payable for investments acquired	4,430	0
Change in deferred financing costs payable	2,239	0
Cash paid for interest	(666)	0
Shares issued in exchange for Infrastructure Assets	$ 0	$ 444,013

Condensed Consolidated Schedule

Condensed Consolidated Schedule of Investments (Unaudited) € in Thousands, £ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands		Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 SGD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 GBP (£)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 SGD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 GBP (£)
Infrastructure Assets		$ 2,826,612					$ 983,552
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		107.20%	107.20%	107.20%	107.20%	107.20%	84.10%	84.10%	84.10%	84.10%	84.10%
Foreign Currency Forward Contracts, Estimated Fair Value		$ (5,238)					$ (18,890)
Foreign Currency Forward Contracts, Estimated Fair Value		0					28
Total Foreign Currency Forward Contracts		$ (5,238)					$ (18,862)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		(0.10%)	(0.10%)	(0.10%)	(0.10%)	(0.10%)	(1.60%)	(1.60%)	(1.60%)	(1.60%)	(1.60%)
Investments in Money Market Funds		$ 291,434					$ 278,417
Total		$ 3,112,808					$ 1,243,107
Total Investments and Cash Equivalents, Estimated Fair Value as a Percentage of Net Assets		118.20%	118.20%	118.20%	118.20%	118.20%	106.30%	106.30%	106.30%	106.30%	106.30%
Money Market Funds
Investments in Money Market Funds		$ 291,434					$ 278,417
Investments in Money Market Funds, Estimated Fair Value as a Percentage of Net Assets		11.10%	11.10%	11.10%	11.10%	11.10%	23.80%	23.80%	23.80%	23.80%	23.80%
Barclays Bank PLC
Foreign Currency Forward Contracts, Notional			$ 4,000							€ 9,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (3)
Foreign Currency Forward Contracts, Estimated Fair Value							$ 28
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Barclays Bank PLC
Foreign Currency Forward Contracts, Notional				$ 11,550							£ 74,500
Foreign Currency Forward Contracts, Estimated Fair Value		$ (47)					$ (4,631)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	(0.40%)	(0.40%)	(0.40%)	(0.40%)	(0.40%)
Barclays Bank PLC
Foreign Currency Forward Contracts, Notional | €					€ 172,500
Foreign Currency Forward Contracts, Estimated Fair Value		$ (626)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%
Barclays Bank PLC
Foreign Currency Forward Contracts, Notional | £						£ 77,500
Foreign Currency Forward Contracts, Estimated Fair Value		$ (353)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%
Goldman, Sachs & Co.
Foreign Currency Forward Contracts, Notional				$ 21,100				$ 91,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (79)					$ (1,222)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	(0.10%)	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Goldman, Sachs & Co.
Foreign Currency Forward Contracts, Notional			$ 82,430							€ 123,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (25)					$ (2,460)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	(0.20%)	(0.20%)	(0.20%)	(0.20%)	(0.20%)
Goldman, Sachs & Co.
Foreign Currency Forward Contracts, Notional | £						£ 27,790					£ 6,200
Foreign Currency Forward Contracts, Estimated Fair Value		$ (127)					$ (225)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Goldman, Sachs & Co.
Foreign Currency Forward Contracts, Notional					€ 456,500				$ 5,600
Foreign Currency Forward Contracts, Estimated Fair Value		$ (864)					$ (58)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Macquarie Bank Limited
Foreign Currency Forward Contracts, Notional | £						£ 195,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (706)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%
Royal Bank of Canada
Foreign Currency Forward Contracts, Notional | £						£ 27,400					£ 27,400
Foreign Currency Forward Contracts, Estimated Fair Value		$ (103)					$ (1,115)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	(0.10%)	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Royal Bank of Canada
Foreign Currency Forward Contracts, Notional | €					€ 130,100
Foreign Currency Forward Contracts, Estimated Fair Value		$ (384)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%
Nomura International PLC
Foreign Currency Forward Contracts, Notional			$ 101,500					$ 91,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (70)					$ (1,246)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	(0.10%)	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Nomura International PLC
Foreign Currency Forward Contracts, Notional | €					€ 410,000					€ 123,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (1,538)					$ (2,491)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		(0.10%)	(0.10%)	(0.10%)	(0.10%)	(0.10%)	(0.20%)	(0.20%)	(0.20%)	(0.20%)	(0.20%)
Nomura International PLC
Foreign Currency Forward Contracts, Notional | £						£ 74,500					£ 74,500
Foreign Currency Forward Contracts, Estimated Fair Value		$ (313)					$ (4,613)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%	0%	0%	0%	0%	(0.40%)	(0.40%)	(0.40%)	(0.40%)	(0.40%)
Nomura International PLC
Foreign Currency Forward Contracts, Notional | €										€ 36,300
Foreign Currency Forward Contracts, Estimated Fair Value							$ (808)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets							(0.10%)	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Goldman, Sachs & Co.
Foreign Currency Forward Contracts, Notional | £											£ 9,000
Foreign Currency Forward Contracts, Estimated Fair Value							$ (21)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets							0%	0%	0%	0%	0%
Investment, Identifier [Axis]: Albioma SA
Infrastructure Assets		$ 204,484					$ 173,823
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		7.80%	7.80%	7.80%	7.80%	7.80%	14.90%	14.90%	14.90%	14.90%	14.90%
Investment, Identifier [Axis]: Avantus LLC
Infrastructure Assets		$ 230,000
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		8.70%	8.70%	8.70%	8.70%	8.70%
Investment, Identifier [Axis]: Greenvolt Energias Renovaveis S.A.
Infrastructure Assets		$ 148,316
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		5.60%	5.60%	5.60%	5.60%	5.60%
Investment, Identifier [Axis]: Grove Education Partners Holdco Limited
Infrastructure Assets		$ 440,620					$ 338,947
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		16.70%	16.70%	16.70%	16.70%	16.70%	29%	29%	29%	29%	29%
Investment, Identifier [Axis]: Morgan Stanley Institutional Liquidity Funds Government Portfolio
Investments in Money Market Funds		$ 291,434					$ 278,417
Investments in Money Market Funds, Estimated Fair Value as a Percentage of Net Assets		11.10%	11.10%	11.10%	11.10%	11.10%	23.80%	23.80%	23.80%	23.80%	23.80%
Investment, Identifier [Axis]: Other Infrastructure Assets Held Through KKR Denali Aggregator L.P.
Infrastructure Assets		$ 57,500
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		2.20%	2.20%	2.20%	2.20%	2.20%
Investment, Identifier [Axis]: Other Infrastructure Assets Held Through KKR Global Climate Zeus Aggregator L.P.
Infrastructure Assets		$ 20,859
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		0.80%	0.80%	0.80%	0.80%	0.80%
Investment, Identifier [Axis]: Other Infrastructure Assets, Equity Interest Held Through KKR Denali Aggregator L.P.
Infrastructure Assets							$ 16,830
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets							1.40%	1.40%	1.40%	1.40%	1.40%
Investment, Identifier [Axis]: Other Infrastructure Assets, Equity Interest Held Through KKR Kyoto Aggregator L.P.
Infrastructure Assets							$ 9,015
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets							0.80%	0.80%	0.80%	0.80%	0.80%
Investment, Identifier [Axis]: Other Infrastructure Assets, Equity Interest Held Through KKR Panda Aggregator L.P.
Infrastructure Assets	[1]	$ 45,000
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets	[1]	1.70%	1.70%	1.70%	1.70%	1.70%
Investment, Identifier [Axis]: Other Infrastructure Assets, Equity Interest Held Through Stellar Asia Holdings I Pte. Ltd.
Infrastructure Assets		$ 36,164					$ 4,689
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		1.40%	1.40%	1.40%	1.40%	1.40%	0.40%	0.40%	0.40%	0.40%	0.40%
Investment, Identifier [Axis]: Pembina Gas Infastructure Inc.
Infrastructure Assets		$ 156,725
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		5.90%	5.90%	5.90%	5.90%	5.90%
Investment, Identifier [Axis]: Pembina Gas Infrastructure Inc.
Infrastructure Assets							$ 156,178
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets							13.30%	13.30%	13.30%	13.30%	13.30%
Investment, Identifier [Axis]: Refresco Group B.V.
Infrastructure Assets		$ 182,986					$ 172,087
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		6.90%	6.90%	6.90%	6.90%	6.90%	14.70%	14.70%	14.70%	14.70%	14.70%
Investment, Identifier [Axis]: Smart Metering Services plc
Infrastructure Assets		$ 299,230
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		11.40%	11.40%	11.40%	11.40%	11.40%
Investment, Identifier [Axis]: Telecom Italia NetCo
Infrastructure Assets		$ 497,801
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		18.90%	18.90%	18.90%	18.90%	18.90%
Investment, Identifier [Axis]: Vantage Towers AG
Infrastructure Assets		$ 506,927					$ 111,983
Infrastructure Assets, Estimated Fair Value as a Percentage of Net Assets		19.20%	19.20%	19.20%	19.20%	19.20%	9.60%	9.60%	9.60%	9.60%	9.60%
[1]As of September 30, 2024, the Company had funded cash into KKR Panda Aggregator L.P. in connection with acquiring an indirect interest in Other Infrastructure Assets on October 1, 2024. This investment is measured at fair value using the net asset value practical expedient under Accounting Standards Codification 820, Fair Value Measurements and Disclosure (“ASC 820”).

Condensed Consolidated Schedu_2

Condensed Consolidated Schedule of Investments (Unaudited) (Parenthetical) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Percentage of estimated fair value of our portfolio companies		107.20%	84.10%
Infrastructure assets investments, cost		$ 2,506,587	$ 895,257
Investments and cash equivalents, cost		2,798,021	1,173,674
Infrastructure assets, fair value		2,826,612	983,552
Money Market Funds
Investments in money market funds, cost		$ 291,434	$ 278,417
North America
Percentage of estimated fair value of our portfolio companies	[1]	18.50%
Infrastructure assets investments, cost	[1]	$ 464,973
Infrastructure assets, fair value	[1]	$ 489,225
EMEA
Percentage of estimated fair value of our portfolio companies	[1]	87.30%
Infrastructure assets investments, cost	[1]	$ 2,019,730
Infrastructure assets, fair value	[1]	$ 2,301,223
Asia-Pacific
Percentage of estimated fair value of our portfolio companies	[1]	1.40%
Infrastructure assets investments, cost	[1]	$ 21,884
Infrastructure assets, fair value	[1]	$ 36,164
Digital Infrastructure
Percentage of estimated fair value of our portfolio companies		39.50%	10%
Energy Security
Percentage of estimated fair value of our portfolio companies		8.10%	14.70%
Energy Transition
Percentage of estimated fair value of our portfolio companies		34.30%	15.60%
Industrial Infrastructure
Percentage of estimated fair value of our portfolio companies		6.90%	14.70%
Social Infrastructure
Percentage of estimated fair value of our portfolio companies		16.70%	29%
Transportation
Percentage of estimated fair value of our portfolio companies		1.70%
[1]As of September 30, 2024, approximately 18.5%, 87.3% and 1.4% of the Company’s infrastructure assets were in North America, EMEA and Asia-Pacific, respectively, based upon the net asset value. The cost basis of infrastructure assets in North America, EMEA and Asia-Pacific, were $464,973, $2,019,730 and $21,884, respectively. The fair value of infrastructure assets in North America, EMEA and Asia-Pacific were $489,225, $2,301,223 and $36,164, respectively.

Organization

Organization	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization KKR Infrastructure Conglomerate LLC (“K-INFRA” and the “Company”) was formed on September 23, 2022 as a limited liability company under the laws of the state of Delaware, and the Company operates its business in a manner permitting it to be excluded from the definition of an “investment company” under the Investment Company Act of 1940, as amended. The Company is a holding company that seeks to acquire, own and control portfolio companies, special purpose vehicles and other entities through which infrastructure assets or businesses will be held (“Infrastructure Assets”), with the objective of generating attractive risk-adjusted returns consisting of both current income and capital appreciation. The Company commenced principal operations on June 1, 2023. K-INFRA conducts a continuous private offering of the following investor shares: Class S Shares, Class D Shares, and Class I Shares (collectively with the Class U Shares, Class R-D Shares, Class R-S Shares and Class R Shares, the “Investor Shares” and, collectively with the Class E Shares, Class F Shares, Class G Shares and Class H Shares, the “Shares”) in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), including under Regulation D and Regulation S, (i) to accredited investors (as defined in Regulation D under the Securities Act) and (ii) in the case of shares sold outside of the United States, to persons that are not “U.S. persons” (as defined in Regulation S under the Securities Act). Holders of Investor Shares have equal rights and privileges with each other, except that Class D Shares, Class U Shares, Class I Shares, Class R-D Shares and Class R Shares do not pay a sales load or dealer-manager fees, the Class I Shares and Class R Shares are not subject to any servicing or distribution fees and the Class D Shares or Class R-D Shares are not subject to any distribution fees. Holders of Class E Shares, Class F Shares, Class G Shares and Class H Shares (collectively, the “KKR Shares”) have equal rights and privileges with each other and, except for the Class G Shares, no class of shares will have any rights, powers or preferences with respect to determining the number of directors constituting the entire Board of Directors the (“Board”) or the appointment, election, or removal of any directors of officers of the Company. Kohlberg Kravis Roberts & Co. L.P. (together with its subsidiaries, “KKR”), through its ownership of all of the Company’s outstanding Class G Shares, hold, directly and indirectly, all of the voting power of the Company. The KKR Shares are not subject to the Management Fee (defined herein) or the Performance Participation Allocation (defined herein), and are not subject to any servicing or distribution fees. The Company is sponsored by KKR and benefits from KKR’s infrastructure sourcing and management platform pursuant to a management agreement entered into with KKR DAV Manager LLC (the “Manager”) to support the Company in managing its portfolio of Infrastructure Assets with the objective of generating attractive risk-adjusted returns consisting of both current income and capital appreciation for holders of Shares (the “Shareholders”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements (referred to hereafter as the “financial statements”) are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and are stated in United States (“U.S.”) dollars. The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in these consolidated financial statements. Actual results could differ from those estimates. The Company’s consolidated financial statements are prepared using the accounting and reporting guidance under Accounting Standards Codification 946, Financial Services—Investment Companies (“ASC 946”). Basis of Consolidation As provided under Regulation S-X and ASC 946, the Company will generally not consolidate its investment in a company other than a wholly owned investment company or controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidates in its consolidated financial statements the accounts of certain wholly owned subsidiaries that meet the criteria. All significant intercompany balances and transactions have been eliminated in consolidation. Adoption of new and revised accounting standards The Company has reviewed recently issued accounting pronouncements and concluded that such pronouncements are either not applicable to the Company or no material impact is expected in the consolidated financial statements as a result of future adoption. For a detailed discussion about the Company’s significant accounting policies, see Note 2 to the audited financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. During the nine months ended September 30, 2024, there were no significant updates to the Company’s significant accounting policies.

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
Investments	Investments Summarized Infrastructure Assets Financial Information The following table presents unaudited summarized financial information for the three and nine months ended September 30, 2024 and 2023 for the Infrastructure Assets in the aggregate in which the Company has an indirect equity interest: Summarized Operating Data: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 2,821,815 $ 2,164,345 $ 7,771,693 $ 6,309,620 Expenses 2,704,652 2,083,509 7,622,928 6,183,547 Income before taxes 117,163 80,836 148,765 126,073 Income tax expense (benefit) 56,217 24,894 (27,149) 51,975 Consolidated net income (loss) 60,946 55,942 175,914 74,098 Net income (loss) attributable to non-controlling interests (7,171) 3,083 (20,094) 10,547 Net income (loss) $ 68,117 $ 52,859 $ 196,008 $ 63,551 The net income above represents the aggregated net income attributable to the controlling interests in each of the Company’s Infrastructure Assets and does not represent the Company’s proportionate share of income.

Fair Value Measurements - Inves

Fair Value Measurements - Investments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements - Investments	Fair Value Measurements - Investments The following tables present fair value measurements of investments, by major class, according to the fair value hierarchy: September 30, 2024 Investments Level I Level II Level III Investments Measured at Net Asset Value (1) Fair Value Infrastructure Assets $ — $ — $ 2,781,612 $ 45,000 $ 2,826,612 Unrealized appreciation on foreign currency forward contracts — — — — — Unrealized depreciation on foreign currency forward contracts — (5,238) — — (5,238) Investments in Money Market Funds 291,434 — — — 291,434 Total $ 291,434 $ (5,238) $ 2,781,612 $ 45,000 $ 3,112,808 (1) Certain investments that are measured at fair value using the net asset value practical expedient under ASC 820 have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Assets and Liabilities. December 31, 2023 Investments Level I Level II Level III Fair Value Infrastructure Assets $ — $ — $ 983,552 $ 983,552 Unrealized appreciation on foreign currency forward contracts — 28 — 28 Unrealized depreciation on foreign currency forward contracts — (18,890) — (18,890) Investments in Money Market Funds 278,417 — — 278,417 Total $ 278,417 $ (18,862) $ 983,552 $ 1,243,107 The following table provides a reconciliation of the beginning and ending balances for investments that use Level III inputs for the nine months ended September 30, 2024: Investments Balance as of December 31, 2023 Purchases Proceeds from sales and repayments Net change in unrealized appreciation on investments Net change in unrealized appreciation on foreign currency translation Balance as of September 30, 2024 Infrastructure Assets $ 983,552 $ 1,568,685 $ (2,353) $ 157,960 $ 73,768 $ 2,781,612 Total $ 983,552 $ 1,568,685 $ (2,353) $ 157,960 $ 73,768 $ 2,781,612 The total change in unrealized appreciation included in the Consolidated Statements of Operations within net change in unrealized appreciation (depreciation) for the nine months ended September 30, 2024 attributable to Level III investments and foreign currency translation still held at September 30, 2024 was $157,960 and $73,768, respectively. The following table provides a reconciliation of the beginning and ending balances for investments that use Level III inputs for the nine months ended September 30, 2023: Investments Balance as of December 31, 2022 Purchases Net change in unrealized appreciation on investments Net change in unrealized depreciation on foreign currency translation Balance as of September 30, 2023 Infrastructure Assets $ — $ 456,513 $ 23,885 $ (849) $ 479,549 Total $ — $ 456,513 $ 23,885 $ (849) $ 479,549 The total change in unrealized appreciation included in the Consolidated Statements of Operations within net change in unrealized appreciation (depreciation) for the nine months ended September 30, 2023 attributable to Level III investments and foreign currency translation still held at September 30, 2023 was $23,885 and $(849), respectively. Derivative Instruments The Company enters into foreign currency forward contracts to hedge against foreign currency exchange rate risk on its non-U.S. dollar denominated securities or to facilitate settlement of foreign currency denominated Infrastructure Asset transactions. A foreign currency forward contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. These contracts are marked-to-market by recognizing the difference between the contract forward exchange rate and the forward market exchange rate on the last day of the period as unrealized appreciation or depreciation. When a foreign currency forward contract is closed, through either delivery or offset by entering into another foreign currency forward contract, the Company recognizes realized appreciation or forward contracts involve elements of market risk in excess of the amounts reflected on the Consolidated Statements of Assets and Liabilities. The Company’s primary risk related to hedging is the risk of an unfavorable change in the foreign exchange rate underlying the foreign currency forward contract. The following table presents the quantitative information about Level III fair value measurements of the Company’s Infrastructure Assets as of September 30, 2024 and December 31, 2023: As of September 30, 2024 As of December 31, 2023 Level III Assets Fair Value September 30, 2024 Fair Value December 31, 2023 Valuation Methodology & Inputs Unobservable Input(s) (1) Weighted Average (2) Range Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Infrastructure Assets $2,781,612 $983,552 Inputs to market comparables, discounted cash flow and transaction price/other Illiquidity Discount 5.8% 5.0% - 10.0% 5.1% 5.0% - 10.0% Decrease Weight Ascribed to Market Comparables 1.4% 0.0% - 25.0% 4.0% 0.0% - 25.0% (4) Weight Ascribed to Discounted Cash Flow 90.3% 0.0% - 100.0% 94.6% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price/Other 8.3% 0.0% - 100.0% 1.4% 0.0% - 100.0% (6) Market comparables Enterprise Value / Forward EBITDA Multiple 11.0x 11.0x - 11.0x 10.5x 10.5x - 10.5x Increase Discounted cash flow Weighted Average Cost of Capital 9.6% 6.4% - 15.1% 9.7% 6.7% - 12.1% Decrease Enterprise Value / LTM EBITDA Exit Multiple 14.5x 7.0x - 23.0x 13.9x 9.5x - 21.0x Increase (1) In determining the inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies, and company-specific developments including exit strategies and realization opportunities. The Manager has determined that market participants would take these inputs into account when valuing the investments. “LTM” means Last Twelve Months. (2) Inputs are weighted based on fair value of the investments included in the range. (3) Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. (4) The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price approach. (5) The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach and transaction price approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach and transaction price approach. (6) The directional change from an increase in the weight ascribed to the transaction price approach would increase the fair value of the Level III investments if the transaction price approach results in a higher valuation than the market comparables approach and discounted cash flow approach. The opposite would be true if the transaction price approach results in a lower valuation than the market comparables approach and discounted cash flow approach. Valuations involve subjective judgments and may not accurately reflect realizable value. The assumptions above are determined by the Manager and reviewed by the Manager’s independent valuation advisor. A change in these assumptions or factors would impact the calculation of the value of our assets.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Management Agreement On September 25, 2023, the Company entered into an Amended and Restated Management Agreem ent with the Manager (the “Management Agreement”). Pursuant to the Management Agreement, the Manager is responsible for sourcing, evaluating and monitoring the Company’s acquisition opportunities and making recommendations to the Company’s executive committee related to the acquisition, management, financing and disposition of the Company’s assets, in accordance with the Company’s objectives, guidelines, policies and limitations, subject to oversight by the Board. Pursuant to the Management Agreement, the Manager is entitled to receive a management fee (the “Management Fee”) from the Company in an amount equal to (i) 1.25% per annum of the month-end Net Asset Value attributable to Class D Shares, Class I Shares and Class S Shares, (ii) 1.00% per annum of the month-end NAV for a 60-month period following June 1, 2023 (the “Initial Offering”) attributable to Class U Shares, Class R-D Shares, Class R-S Shares and Class R Shares (provided, in the case of Class U Shares, Class R-S Shares and Class R Shares, that such Class U Shares, Class R-S Shares and Class R Shares are purchased by an investor as part of an intermediary’s aggregate subscription for at least $100,000 during the 12-month period following the Initial Offering) and 1.25% per annum of the month-end NAV attributable to Class U Shares, Class R-D Shares, Class R-S Shares and Class R Shares thereafter, each before giving effect to any accruals for certain fees and expenses. Such Management Fee is calculated based on the Company’s transactional net asset value, which is used to determine the price at which the Company sells and repurchases its Shares. KKR or its affiliates (and in the case of directors’ fees, KKR executives) are expected to be paid transaction fees and monitoring fees in connection with the acquisition, ownership, control and exit of Infrastructure Assets, and KKR or its affiliates are expected to be entitled to receive “break-up” or similar fees in connection with unconsummated transactions (“Other Fees”). The Management Fee payable in any monthly period is subject to reduction, but not below zero, by an amount equal to any Other Fees allocable to Investor Shares pursuant to the terms of the Management Agreement. The Manager, in its sole discretion, may forgo reimbursement by the Company of certain expenses incurred by the Manager or its affiliates (other than the Company and its subsidiaries) on behalf of the Company in each calendar month to the extent there remains any Other Fees that are not used to offset the Management Fee. Any Other Fees used to offset such expenses will not be applied again to offset future Management Fees. For the three and nine months ended September 30, 2024, the Manager earned $6,834 and $15,861 in gross Management Fees, respectively. For the three and nine months ended September 30, 2024, the Company offset Management Fees and certain operating expenses of $6,834 and $17,251, respectively. For the three and nine months ended September 30, 2023, the Manager earned $1,357 and $1,532 in gross Management Fees, respectively. For both the three and nine months ended September 30, 2023, the Company offset Management Fees and certain operating expenses of $339. As of September 30, 2024 and December 31, 2023, there were unapplied credits of $18,582 and $6,533, respectively, to be carried forward that relate to Other Fees earned. As of September 30, 2024 and December 31, 2023, the Company does not owe a net Management Fee to the Manager. Pursuant to the Management Agreement, such amounts earned may be offset by the Manager against amounts due to the Company from the Manager. Performance Participation Allocation Under the limited liability company agreement of the Company (as amended, the “LLC Agreement”), for as long as the Management Agreement has not been terminated, the Class H Members may receive a Performance Participation Allocation from the Company. The Class H Member is an affiliate of KKR. KKR is allocated a “Performance Participation Allocation” equal to 12.5% of the Total Return attributable to Investor Shares subject to the annual Hurdle Amount and a High Water Mark, with a 100% Catch-Up (each as defined in the LLC Agreement). Such allocation will be measured and allocated or paid annually (excluding the initial Reference Period, as defined in the LLC Agreement) and accrued monthly (subject to pro-rating for partial periods). KKR may elect to receive the Performance Participation Allocation in cash and/or Class F Shares. Specifically, promptly following the end of each Reference Period (and at other times as described below), KKR is allocated a Performance Participation Allocation in an amount equal to: • First, if the Total Return for the applicable period exceeds the sum of (i) the Hurdle Amount for that period and (ii) the Loss Carryforward Amount (any such excess, “Excess Profits”), 100% of such Excess Profits until the total amount allocated to KKR equals 12.5% of the sum of (x) the Hurdle Amount for that period and (y) any amount allocated to KKR pursuant to this clause (any such amount, the “Catch-Up”); and • Second, to the extent there are remaining Excess Profits, 12.5% of such remaining Excess Profits. KKR will also be allocated a Performance Participation Allocation with respect to all Investor Shares that are repurchased in connection with repurchases of Shares in an amount calculated as described above with the relevant period being the portion of the “Reference Period” (which is the applicable year beginning on October 1 and ending on September 30 of the next succeeding year, with the initial Reference Period being the period from June 1, 2023 to September 30, 2024) for which such Shares were outstanding, and proceeds for any such Share repurchases will be reduced by the amount of any such Performance Participation Allocation. Such Performance Participation Allocation is calculated based on the Company’s transactional net asset value, which is used to determine the price at which the Company sells and repurchases its Shares. If the Performance Participation Allocation is paid in Class F Shares, such Shares may be repurchased at KKR’s request and will be subject to the repurchase limitations of our share repurchase plan. A Performance Participation Allocation accrual of $33,038 and $8,335 was recorded as of September 30, 2024 and December 31, 2023 in the Consolidated Statements of Assets and Liabilities. The Consolidated Statements of Operations reflects a $13,991 and $24,728 Performance Participation Allocation for the three and nine months ended September 30, 2024, respectively. The Consolidated Statements of Operations reflects a $1,281 and $2,595 Performance Participation Allocation for the three and nine months ended September 30, 2023, respectively. During the three and nine months ended September 30, 2024, the Company issued approximately 339 and 873 Class F Shares for $10 and $25 to the Class H Member, respectively, for payment of the Performance Participation Allocation resulting from repurchases of Investor Shares. Dealer-Manager Agreement On September 25, 2023, the Company entered into an Amended and Restated Dealer-Manager Agreement (as amended from time to time, the “Dealer-Manager Agreement”) with KKR Capital Markets LLC (the “Dealer-Manager”). Pursuant to the Dealer-Manager Agreement, the Dealer-Manager solicits sales of the Company’s Shares authorized for issue in accordance with the Company’s confidential Private Placement Memorandum (the “PPM”) and provides certain administrative and shareholder services to the Company, subject to the terms and conditions set forth in the Dealer-Manager Agreement. The Dealer-Manager receives certain front-end sales charges, Distribution Fees, Servicing Fees and certain other fees as described in the PPM. Refer to “ Note 7. Credit Facility ” for further discussion over additional transactions with the Dealer-Manager. Distribution Fees and Servicing Fees The Company will pay KKR Capital Markets LLC ongoing distribution and servicing fees (a) of 0.85% of NAV per annum for Class S Shares, Class R-S Shares and Class U Shares only (consisting of a 0.60% distribution fee (the “Distribution Fee”) and a 0.25% shareholder servicing fee (the “Servicing Fee”)), payable monthly in arrears, as they become contractually due and (b) of 0.25% for Class D Shares and Class R-D Shares only (all of which constitutes payment for shareholder services, with no payment for distribution services) in each case as accrued, and payable monthly. Such Distribution Fee and Servicing Fee are calculated based on the Company’s transactional net asset value, which is used to determine the price at which the Company sells and repurchases its Shares. Class I Shares, Class R Shares, Class E Shares, Class F Shares, Class G Shares and Class H Shares do not incur Distribution Fees or Servicing Fees. All or a portion of the Distribution Fee or Servicing Fee may be used to pay for sub-transfer agency, platform, sub-accounting and certain other administrative services. The Dealer-Manager (defined below) generally expects to reallow the Distribution Fee and the Servicing Fee to participating broker dealers or other intermediaries. The Company also pays for certain sub-transfer agency, sub-accounting and administrative services outside of the Distribution Fee and Servicing Fee. Under GAAP, the Company accrues the cost of the Servicing Fees and Distribution Fees, as applicable, for the estimated life of the shares as an offering cost at the time the Company sells Class S Shares, Class U Shares, Class D Shares, Class R-D Shares and Class R-S Shares. As of September 30, 2024 and December 31, 2023, the Company has accrued $101,308 and $51,440, respectively, of Servicing Fees and Distribution Fees payable to the Dealer-Manager (defined below) related to the Class S Shares, Class U Shares, Class D Shares, and Class R-D Shares sold. Expense Limitation and Reimbursement Agreement On December 16, 2023, the Company entered into a Second Amended and Restated Expense Limitation and Reimbursement Agreement (the “Expense Limitation Agreement”) with the Manager, which amended and restated the Amended and Restated Expense Limitation and Reimbursement Agreement, dated as of May 10, 2023. The Expense Limitation Agreement extends the Limitation Period (as defined in the Expense Limitation Agreement) to December 31, 2024. Pursuant to the Expense Limitation Agreement, the Manager will forgo an amount of its monthly management fee and/or pay, absorb or reimburse certain expenses of the Company, to the extent necessary so that, for any fiscal year, the Company’s annual Specified Expenses (defined below) do not exceed 0.60% of the Company’s net assets as of the end of each calendar month. “Specified Expenses” is defined to include all expenses incurred in the business of the Company, including organizational and offering costs, with the exception of (i) the management fee, (ii) the Performance Participation Allocation, (iii) the Servicing Fee, (iv) the Distribution Fee, (v) asset or entity level expenses, (vi) brokerage costs or other investment-related out-of-pocket expenses, including with respect to unconsummated transactions, (vii) dividend/interest payments (including any dividend payments, interest expenses, commitment fees, or other expenses related to any leverage incurred by the Company), (viii) taxes, (ix) ordinary corporate operating expenses (including costs and expenses related to hiring, retaining, and compensating employees and officers of the Company), (x) certain insurance costs and (xi) extraordinary expenses (as determined in the sole discretion of the Manager). The Expense Limitation Agreement will be in effect through and including December 31, 2024, but may be renewed by the mutual agreement of the Manager and the Company for successive terms. Under the Expense Limitation Agreement, the Company has agreed to carry forward the amount of the foregone management fees and/or expenses paid, absorbed or reimbursed by the Manager for a period not to exceed three years from the end of the month in which the Manager waived or reimbursed such fees or expenses and to reimburse the Manager for such fees or expenses in accordance with the Expense Limitation Agreement. For the three months ended September 30, 2024, the Manager did not reimburse expenses incurred by the Company, pursuant to the Expense Limitation Agreement. For the nine months ended September 30, 2024, the Manager agreed to reimburse expenses of $2,377 incurred by the Company, pursuant to the Expense Limitation Agreement, which amount is subject to recoupment within a three year period. For the three and nine months ended September 30, 2023, the Manager agreed to reimburse expenses of $3,906 and $8,640, respectively, incurred by the Company, pursuant to the Expense Limitation Agreement. For the three and nine months ended September 30, 2024, the Manager recouped expenses of $776 and $816, respectively, incurred by the Company, pursuant to the Expense Limitation Agreement. For both the three and nine months ended September 30, 2023, the Manager did not recoup expenses incurred by the Company, pursuant to the Expense Limitation Agreement. On the Company’s Consolidated Statement of Assets and Liabilities, as of September 30, 2024, the Company has recorded $6,129 as amounts Due to Manager and affiliates On the Company’s Consolidated Statement of Assets and Liabilities, as of December 31, 2023, the Company has recorded $16,549 as amounts Due from Manager Due to Manager The following table reflects the amounts subject to recoupment pursuant to the Expense Limitation Agreement and the expiration for future possible recoupments by the Manager as of September 30, 2024: For the Three Months Ended Amount Last Expiration Date September 30, 2022 $ 2,822 September 30, 2025 December 31, 2022 1,797 December 31, 2025 March 31, 2023 2,963 March 31, 2026 June 30, 2023 1,771 June 30, 2026 September 30, 2023 3,906 September 30, 2026 December 31, 2023 2,474 December 31, 2026 March 31, 2024 1,923 March 31, 2027 June 30, 2024 454 June 30, 2027 September 30, 2024 — September 30, 2027 Total $ 18,110 As of September 30, 2024, management believed that it is not probable for the Company to be required to reimburse the expenses waived by the Manager. Line of Credit On August 9, 2024, a wholly-owned subsidiary of the Company (collectively with future subsidiaries of the Company as may be added and removed from time to time, the “Line of Credit Borrowers”), entered into an unsecured, uncommitted line of credit (the “Line of Credit”) to provide for up to a maximum aggregate principal amount of $350,000 with KKR Alternative Assets LLC (the “Lender”), an affiliate of the Company. The Line of Credit expires on August 8, 2025, subject to six-month extension options requiring the Lender’s approval. The applicable interest rate is a rate up to the then-current rate offered by a third-party lender or, if no such rate is available, up to the sum of the Secured Overnight Financing Rate applicable to such loan plus 3.25% per annum. Each advance under the Line of Credit is repayable on the earliest of (i) the 180th day following the earlier of (x) the Lender’s demand and (y) the expiration of the Line of Credit and (ii) if specified, the scheduled date of repayment for each such loan as set forth in the relevant loan request (the “Scheduled Repayment Date”), which date shall in no case be later than 364 days following the borrowing of such loan (unless the Lender, in its sole discretion, consents to a Scheduled Repayment Date that is later than 364 days following the borrowing of such loan). To the extent the Company has not repaid all loans and other obligations under the Line of Credit after a repayment event has occurred, the Company is obligated to apply excess available cash proceeds to the repayment of such loans and other obligations; provided that the Line of Credit Borrowers will be permitted to (i) make payments to fulfill any repurchase requests pursuant to the Company’s share repurchase plan or any excess tender offer on the terms described in the Company’s private placement memorandum, (ii) use funds to close any acquisition to which the Company committed to prior to receiving a demand notice, (iii) make elective distributions of an amount not to exceed amounts paid in the immediately preceding fiscal quarter and (iv) pay any taxes when due. The Line of Credit also permits voluntary prepayment of principal and accrued interest without any penalty other than customary breakage costs subject to the Lender’s discretion. Each Line of Credit Borrower may withdraw from the Line of Credit at the time all such obligations held by such Line of Credit Borrower to the Lender under the Line of Credit have been repaid to the Lender in full. The Line of Credit contains customary events of default. As is customary in such financings, if an event of default occurs under the Line of Credit, the Lender may accelerate the repayment of amounts outstanding under the Line of Credit and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. None of the Lender and its assignees shall have any recourse to any entities with interests in the Line of Credit Borrowers such as a general partner or investor, including the Company, or any of their respective assets for any indebtedness or other monetary obligation incurred under the Line of Credit. As of September 30, 2024, the Line of Credit Borrowers had an outstanding balance of $249,128 under the Line of Credit. The Line of Credit Borrowers and Lender agreed to a 0.00% per annum interest rate on all borrowings outstanding as of September 30, 2024. The carrying amount outstanding under the Line of Credit approximates its fair value as of September 30, 2024. Infrastructure Assets For both the three and nine months ended September 30, 2024, KKR Alternative Assets LLC, an indirect subsidiary of KKR, contributed ownership interests in certain Infrastructure Assets to the Company for aggregate consideration of $378,487 in exchange for cash and borrowings under the Line of Credit. For the three months ended September 30, 2023, the Company did not issue Class E Shares of the Company to KKR Alternative Assets LLC for aggregate consideration in exchange for the contribution to the Company of ownership interests in certain Infrastructure Assets. For the nine months ended September 30, 2023, the Company issued Class E Shares of the Company to KKR Alternative Assets LLC for aggregate consideration of $444,013 in exchange for the contribution to the Company of ownership interests in certain Infrastructure Assets.

Shareholders_ Equity

Shareholders’ Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Shareholders’ Equity	Shareholders’ Equity The following table is a summary of the movement in the Company’s outstanding Shares during the three months ended September 30, 2024: Shares Outstanding as of June 30, 2024 Shares Issued During the Period Shares Repurchased During the Period Shares Issued Upon Reinvestment of Distributions During the Period Transfers In Transfers Out Shares Outstanding as of September 30, 2024 Class I Shares 2,537,525 6,095,191 — 18,030 1,368 — 8,652,114 Class S Shares 2,977,216 7,590,155 — 20,275 — — 10,587,646 Class U Shares 46,526,340 — (37,579) 308,755 — (42,536) 46,754,980 Class R-D Shares 750,832 — — 7,324 — — 758,156 Class R Shares 28,963,732 — (1,000) 218,030 41,052 — 29,221,814 Class D Shares 397,968 391,885 — 3,765 — — 793,618 Class R-S Shares — — — — — — — Class E Shares 40 — — — — — 40 Class F Shares 53,127 2,555 — 27 — — 55,709 Class G Shares 40 — — — — — 40 Class H Shares 40 — — — — — 40 Total 82,206,860 14,079,786 (38,579) 576,206 42,420 (42,536) 96,824,157 The following table is a summary of the movement in the Company’s outstanding Shares during the nine months ended September 30, 2024: Shares Outstanding as of December 31, 2023 Shares Issued During the Period Shares Repurchased During the Period Shares Issued Upon Reinvestment of Distributions During the Period Transfers In Transfers Out Shares Outstanding as of September 30, 2024 Class I Shares 131,691 7,946,023 — 18,109 687,982 (131,691) 8,652,114 Class S Shares — 10,473,522 — 20,275 93,849 — 10,587,646 Class U Shares 28,088,229 18,267,917 (83,433) 691,329 — (209,062) 46,754,980 Class R-D Shares 353,076 371,276 — 14,404 19,400 — 758,156 Class R Shares 16,671,146 12,451,967 (30,001) 495,583 317,621 (684,502) 29,221,814 Class D Shares 380 789,466 — 3,772 — — 793,618 Class R-S Shares — 93,561 — 220 — (93,781) — Class E Shares 40 — — — — — 40 Class F Shares 49,830 5,815 — 64 — — 55,709 Class G Shares 40 — — — — — 40 Class H Shares 40 — — — — — 40 Total 45,294,472 50,399,547 (113,434) 1,243,756 1,118,852 (1,119,036) 96,824,157 The following table is a summary of the movement in the Company’s outstanding Shares during the three months ended September 30, 2023: Shares Outstanding as of June 30, 2023 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 41,465 — 41,465 Class U Shares 5,012,365 13,140,595 — 18,152,960 Class R Shares 2,957,453 8,434,321 — 11,391,774 Class D Shares — 4,509 — 4,509 Class E Shares 9,960,519 — (9,960,519) — Class F Shares — 36,944 — 36,944 Class G Shares 40 — — 40 Class H Shares 40 — — 40 Total 17,930,417 21,657,834 (9,960,519) 29,627,732 The following table is a summary of the movement in the Company’s outstanding Shares during the nine months ended September 30, 2023: Shares Outstanding as of December 31, 2022 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 41,465 — 41,465 Class U Shares — 18,152,960 — 18,152,960 Class R Shares — 11,391,774 — 11,391,774 Class D Shares — 4,509 — 4,509 Class E Shares — 17,760,519 (17,760,519) — Class F Shares — 36,944 — 36,944 Class G Shares 40 — — 40 Class H Shares — 40 — 40 Total 40 47,388,211 (17,760,519) 29,627,732 Distribution Reinvestment Plan The Company adopted a Distribution Reinvestment Plan (the “DRIP”) in which cash distributions to holders of the Company’s Shares will automatically be reinvested in additional whole and fractional Shares attributable to the class of Shares that a Shareholder owns unless such holders elect to receive distributions in cash. Shareholders may terminate their participation in the DRIP with prior written notice to us. Under the DRIP, Shareholders’ distributions are reinvested in Shares of the same class owned by the Shareholder for a purchase price equal to the most recently available NAV per Share. Shareholders will not pay a sales load when purchasing Shares under the DRIP; however, Class S Shares, Class D Shares, Class U Shares, Class R-S Shares and Class R-D Shares, including those issued under the DRIP, will be subject to applicable ongoing distribution and/or servicing fees. Share Repurchases The Company offers a share repurchase plan pursuant to which, on a quarterly basis, Shareholders may request that the Company repurchase all or any portion of their Shares. The Company may repurchase fewer Shares than have been requested in any particular quarter to be repurchased under its share repurchase plan, or none at all, in its discretion at any time. In addition, the aggregate NAV of total repurchases of Class S Shares, Class D Shares, Class U Shares, Class I Shares, Class R-S Shares, Class R-D Shares, Class R Shares and/or Class F Shares under its share repurchase plan will be limited to no more than 5% of our aggregate NAV attributable to such classes of shares per calendar quarter (measured using the average aggregate NAV attributable to Shareholders as of the end of the immediately preceding calendar quarter). The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on February 5, 2024: Class U Shares $ 26.94 4,060 $ 109 $ 5 $ 104 Class R Shares 26.96 9,644 260 13 247 Shares repurchased on May 6, 2024: Class U Shares 27.17 41,794 1,136 51 1,085 Class R Shares 27.19 19,357 526 26 500 Shares repurchased on August 5, 2024: Class U Shares 27.48 37,579 1,033 52 981 Class R Shares 27.50 1,000 27 1 26 Total 113,434 $ 3,091 $ 148 $ 2,943 Repurchase Arrangement for Class E Shares held by KKR For the three and nine months ended September 30, 2024, pursuant to the KKR Share Repurchase Arrangement, effective April 28, 2023 (as amended, the “KKR Share Repurchase Arrangement”), the Company did not repurchase any Class E Shares of the Company from KKR. For a detailed description of the KKR Share Repurchase Arrangement, see Note 6 to the audited financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Distributions The net distribution per share declared on each class of the Company’s shares is determined by subtracting estimated shareholder servicing fees and distribution fees per share applicable for such class from the gross distribution per share which is the same for all classes of the Company’s shares. Such shareholder servicing fees and distribution fees per share are payable to the Dealer-Manager as they become contractually due. The following table details aggregate quarterly distributions per share declared to shareholders as of applicable record date for each applicable class of the Company’s shares for each of the three and nine months ended September 30, 2024: Record Date Class I Shares Class S Shares Class U Shares Class R-D Shares Class R Shares Class D Shares Class R-S Shares Class E Shares Class F Shares March 31, 2024 $ 0.2800 $ — $ 0.2221 $ 0.2630 $ 0.2800 $ 0.2630 $ 0.2220 $ 0.2800 $ 0.2800 June 30, 2024 0.2900 0.2316 0.2317 0.2728 0.2900 0.2728 — 0.2900 0.2900 September 30, 2024 0.3000 0.2401 0.2402 0.2824 0.3000 0.2824 — 0.3000 0.3000 Total $ 0.8700 $ 0.4717 $ 0.6940 $ 0.8182 $ 0.8700 $ 0.8182 $ 0.2220 $ 0.8700 $ 0.8700 The distributions for each class of shares were payable to holders of record at the close of business on March 31, 2024, June 30, 2024 and September 30, 2024, with payments on April 24, 2024, July 25, 2024 and October 25, 2024, respectively. The net distributions were paid in cash or reinvested in shares of the Company for shareholders participating in the Company’s DRIP.

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Credit Facility	Credit Facility Revolving Credit Agreement On April 3, 2024, certain subsidiaries (collectively, the “Borrowers”) of the Company entered into a revolving credit agreement (as amended from time to time, the “Credit Agreement”) with Mizuho Bank, Ltd., as joint lead arranger, administrative agent, and collateral agent, KKR Capital Markets LLC, an indirect subsidiary of KKR & Co. Inc. and affiliate of the Company, as joint lead arranger, and the lenders party thereto. On April 3, 2024, the Company remitted $750 to the Dealer-Manager, an affiliate of the Company, for arranger fees related to the Credit Agreement. Under the Credit Agreement, the lenders have agreed to make credit available to the Borrowers in an aggregate initial principal amount of up to $150,000, with an uncommitted accordion feature that would allow the Borrowers to increase the commitment to up to $1,000,000 in the aggregate. The Credit Agreement matures on April 2, 2027, unless there is an earlier termination or an acceleration following an event of default. On September 30, 2024, the Borrowers entered into an amendment (the “Credit Agreement Amendment”) to the Credit Agreement. Pursuant to the Credit Agreement Amendment, the credit available to the Borrowers was increased by $150,000 to an aggregate principal amount of $300,000. On September 30, 2024, the Company remitted $750 to the Dealer-Manager, an affiliate of the Company, for arranger fees related to the Credit Agreement Amendment. Except as described above, the material terms of the Credit Agreement remain unchanged by the Credit Agreement Amendment. Advances under the Credit Agreement denominated in U.S. dollars bear interest, at the relevant Borrower’s option, at (i) daily or term Secured Overnight Financing Rate (SOFR) plus a spread of 3.25% per annum or (ii) a reference rate plus a spread of 2.25% per annum. Advances under the Credit Agreement denominated in currencies other than U.S. dollars will bear interest at certain local rates consistent with market standards plus a spread of 3.25% per annum. If the usage under the Credit Agreement is less than 50% of the aggregate commitments under the Credit Agreement, the Borrowers of the Company shall pay an unused fee of 0.50% per annum of the principal obligations. If the usage under the Credit Agreement is equal to or greater than 50% of the aggregate commitments under the Credit Agreement, the Borrowers of the Company shall pay an unused fee of 0.40% per annum of the principal obligations. Under the terms of the Credit Agreement, the Company is subject to customary affirmative and negative covenants. The Company incurred $10,519 of costs associated with entry into the Credit Agreement and Credit Agreement Amendment. These costs have been capitalized within Deferred financing costs on the Consolidated Statement of Assets and Liabilities. As of September 30, 2024, total remaining unamortized deferring financing costs for the Credit Agreement was $9,373. As of September 30, 2024, the Borrowers did not have an outstanding balance under the Credit Agreement. The carrying amount outstanding under the Credit Agreement approximates its fair value as of September 30, 2024.

Distributions

Distributions	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Distributions	Shareholders’ Equity The following table is a summary of the movement in the Company’s outstanding Shares during the three months ended September 30, 2024: Shares Outstanding as of June 30, 2024 Shares Issued During the Period Shares Repurchased During the Period Shares Issued Upon Reinvestment of Distributions During the Period Transfers In Transfers Out Shares Outstanding as of September 30, 2024 Class I Shares 2,537,525 6,095,191 — 18,030 1,368 — 8,652,114 Class S Shares 2,977,216 7,590,155 — 20,275 — — 10,587,646 Class U Shares 46,526,340 — (37,579) 308,755 — (42,536) 46,754,980 Class R-D Shares 750,832 — — 7,324 — — 758,156 Class R Shares 28,963,732 — (1,000) 218,030 41,052 — 29,221,814 Class D Shares 397,968 391,885 — 3,765 — — 793,618 Class R-S Shares — — — — — — — Class E Shares 40 — — — — — 40 Class F Shares 53,127 2,555 — 27 — — 55,709 Class G Shares 40 — — — — — 40 Class H Shares 40 — — — — — 40 Total 82,206,860 14,079,786 (38,579) 576,206 42,420 (42,536) 96,824,157 The following table is a summary of the movement in the Company’s outstanding Shares during the nine months ended September 30, 2024: Shares Outstanding as of December 31, 2023 Shares Issued During the Period Shares Repurchased During the Period Shares Issued Upon Reinvestment of Distributions During the Period Transfers In Transfers Out Shares Outstanding as of September 30, 2024 Class I Shares 131,691 7,946,023 — 18,109 687,982 (131,691) 8,652,114 Class S Shares — 10,473,522 — 20,275 93,849 — 10,587,646 Class U Shares 28,088,229 18,267,917 (83,433) 691,329 — (209,062) 46,754,980 Class R-D Shares 353,076 371,276 — 14,404 19,400 — 758,156 Class R Shares 16,671,146 12,451,967 (30,001) 495,583 317,621 (684,502) 29,221,814 Class D Shares 380 789,466 — 3,772 — — 793,618 Class R-S Shares — 93,561 — 220 — (93,781) — Class E Shares 40 — — — — — 40 Class F Shares 49,830 5,815 — 64 — — 55,709 Class G Shares 40 — — — — — 40 Class H Shares 40 — — — — — 40 Total 45,294,472 50,399,547 (113,434) 1,243,756 1,118,852 (1,119,036) 96,824,157 The following table is a summary of the movement in the Company’s outstanding Shares during the three months ended September 30, 2023: Shares Outstanding as of June 30, 2023 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 41,465 — 41,465 Class U Shares 5,012,365 13,140,595 — 18,152,960 Class R Shares 2,957,453 8,434,321 — 11,391,774 Class D Shares — 4,509 — 4,509 Class E Shares 9,960,519 — (9,960,519) — Class F Shares — 36,944 — 36,944 Class G Shares 40 — — 40 Class H Shares 40 — — 40 Total 17,930,417 21,657,834 (9,960,519) 29,627,732 The following table is a summary of the movement in the Company’s outstanding Shares during the nine months ended September 30, 2023: Shares Outstanding as of December 31, 2022 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 41,465 — 41,465 Class U Shares — 18,152,960 — 18,152,960 Class R Shares — 11,391,774 — 11,391,774 Class D Shares — 4,509 — 4,509 Class E Shares — 17,760,519 (17,760,519) — Class F Shares — 36,944 — 36,944 Class G Shares 40 — — 40 Class H Shares — 40 — 40 Total 40 47,388,211 (17,760,519) 29,627,732 Distribution Reinvestment Plan The Company adopted a Distribution Reinvestment Plan (the “DRIP”) in which cash distributions to holders of the Company’s Shares will automatically be reinvested in additional whole and fractional Shares attributable to the class of Shares that a Shareholder owns unless such holders elect to receive distributions in cash. Shareholders may terminate their participation in the DRIP with prior written notice to us. Under the DRIP, Shareholders’ distributions are reinvested in Shares of the same class owned by the Shareholder for a purchase price equal to the most recently available NAV per Share. Shareholders will not pay a sales load when purchasing Shares under the DRIP; however, Class S Shares, Class D Shares, Class U Shares, Class R-S Shares and Class R-D Shares, including those issued under the DRIP, will be subject to applicable ongoing distribution and/or servicing fees. Share Repurchases The Company offers a share repurchase plan pursuant to which, on a quarterly basis, Shareholders may request that the Company repurchase all or any portion of their Shares. The Company may repurchase fewer Shares than have been requested in any particular quarter to be repurchased under its share repurchase plan, or none at all, in its discretion at any time. In addition, the aggregate NAV of total repurchases of Class S Shares, Class D Shares, Class U Shares, Class I Shares, Class R-S Shares, Class R-D Shares, Class R Shares and/or Class F Shares under its share repurchase plan will be limited to no more than 5% of our aggregate NAV attributable to such classes of shares per calendar quarter (measured using the average aggregate NAV attributable to Shareholders as of the end of the immediately preceding calendar quarter). The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on February 5, 2024: Class U Shares $ 26.94 4,060 $ 109 $ 5 $ 104 Class R Shares 26.96 9,644 260 13 247 Shares repurchased on May 6, 2024: Class U Shares 27.17 41,794 1,136 51 1,085 Class R Shares 27.19 19,357 526 26 500 Shares repurchased on August 5, 2024: Class U Shares 27.48 37,579 1,033 52 981 Class R Shares 27.50 1,000 27 1 26 Total 113,434 $ 3,091 $ 148 $ 2,943 Repurchase Arrangement for Class E Shares held by KKR For the three and nine months ended September 30, 2024, pursuant to the KKR Share Repurchase Arrangement, effective April 28, 2023 (as amended, the “KKR Share Repurchase Arrangement”), the Company did not repurchase any Class E Shares of the Company from KKR. For a detailed description of the KKR Share Repurchase Arrangement, see Note 6 to the audited financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Distributions The net distribution per share declared on each class of the Company’s shares is determined by subtracting estimated shareholder servicing fees and distribution fees per share applicable for such class from the gross distribution per share which is the same for all classes of the Company’s shares. Such shareholder servicing fees and distribution fees per share are payable to the Dealer-Manager as they become contractually due. The following table details aggregate quarterly distributions per share declared to shareholders as of applicable record date for each applicable class of the Company’s shares for each of the three and nine months ended September 30, 2024: Record Date Class I Shares Class S Shares Class U Shares Class R-D Shares Class R Shares Class D Shares Class R-S Shares Class E Shares Class F Shares March 31, 2024 $ 0.2800 $ — $ 0.2221 $ 0.2630 $ 0.2800 $ 0.2630 $ 0.2220 $ 0.2800 $ 0.2800 June 30, 2024 0.2900 0.2316 0.2317 0.2728 0.2900 0.2728 — 0.2900 0.2900 September 30, 2024 0.3000 0.2401 0.2402 0.2824 0.3000 0.2824 — 0.3000 0.3000 Total $ 0.8700 $ 0.4717 $ 0.6940 $ 0.8182 $ 0.8700 $ 0.8182 $ 0.2220 $ 0.8700 $ 0.8700 The distributions for each class of shares were payable to holders of record at the close of business on March 31, 2024, June 30, 2024 and September 30, 2024, with payments on April 24, 2024, July 25, 2024 and October 25, 2024, respectively. The net distributions were paid in cash or reinvested in shares of the Company for shareholders participating in the Company’s DRIP.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company was not subject to any material litigation nor was the Company aware of any material litigation threatened against it. Funding Commitments and Others As of September 30, 2024 and December 31, 2023, the Company had unfunded commitments consisting of $259,861 and $33,500, respectively, related to its investment in Infrastructure Assets. Indemnification Under the LLC Agreement and organizational documents, the members of the Board, officers of the Company, the Manager, KKR, and their respective affiliates, directors, officers, representatives, agents and employees are indemnified against certain liabilities arising out of the performance of their duties to the Company. In the normal course of business, the Company enters into contracts that contain a variety of representations and that provide general indemnifications. The Company’s maximum liability exposure under these arrangements is unknown, as future claims that have not yet occurred may be made against the Company.

Financial Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
Financial Highlights	Financial Highlights The following is a schedule of the financial highlights of the Company attributed to each class of shares for the period from January 1, 2024 through September 30, 2024: Class I Shares Class S Shares Class U Shares Class R-D Shares Class R Shares Class D Shares Class E Shares Class F Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (January 1, 2024) $ 26.96 $ — $ 25.16 $ 26.41 $ 26.96 $ 26.61 $ 27.47 $ 27.49 $ 27.94 $ 27.94 Consideration from the issuance of shares (0.02) 3.70 0.82 0.33 — 0.81 — — — — Repurchases of shares — — — — — — — — — — Reinvestment of distributions — 0.01 0.03 0.01 — 0.01 — — — — Transfers in — 27.36 — 0.02 — — — — — — Transfers out — — (0.01) — — — — — — — Accrued shareholder servicing fees and distribution fees (2) — (3.68) (0.86) (0.35) — (1.79) — — — — Early repurchase fee (2) — — — — — — — — — — Distributions declared (3) (0.87) (0.47) (0.69) (0.82) (0.87) (0.82) (0.87) (0.87) — — Net investment (loss) income (2) (0.10) (0.06) (0.08) (0.09) (0.08) (0.15) 0.23 0.25 0.23 0.23 Net realized gain (loss) and change in unrealized appreciation (depreciation) (2) 2.28 (0.43) 2.18 2.22 2.24 3.03 2.31 2.27 2.38 2.38 Net increase (decrease) in net assets attributed to shareholders 1.29 (0.93) 1.39 1.32 1.29 1.09 1.67 1.65 2.61 2.61 Net asset value per share at the end of period (September 30, 2024) $ 28.25 $ 26.43 $ 26.55 $ 27.73 $ 28.25 $ 27.70 $ 29.14 $ 29.14 $ 30.55 $ 30.55 Net assets at end of period (September 30, 2024) $ 244,448 $ 279,848 $ 1,241,328 $ 21,026 $ 825,633 $ 21,984 $ 1 $ 1,623 $ 1 $ 1 Shares outstanding at end of period (September 30, 2024) 8,652,114 10,587,646 46,754,980 758,156 29,221,814 793,618 40 55,709 40 40 Weighted average shares outstanding at end of period (September 30, 2024) 2,491,724 5,444,788 41,896,181 636,275 25,947,611 245,788 40 53,164 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to average net asset value: (4) Operating expenses before Performance Participation Allocation (5) (7) 0.58 % 0.35 % 0.54 % 0.52 % 0.51 % 0.62 % 0.51 % 0.51 % 0.51 % 0.51 % Operating expenses before expenses reimbursed and/or recouped by Manager (5) (6) 2.11 % 1.26 % 1.88 % 1.83 % 1.77 % 2.17 % 0.63 % 0.62 % 0.62 % 0.62 % Operating expenses after expenses reimbursed and/or recouped by Manager (5) (6) 2.18 % 1.31 % 1.79 % 1.76 % 1.69 % 2.25 % 0.51 % 0.51 % 0.51 % 0.51 % Operating expenses after Performance Participation Allocation (5) (7) 2.18 % 1.31 % 1.79 % 1.76 % 1.69 % 2.25 % 0.51 % 0.51 % 0.51 % 0.51 % Net investment income (loss) (5) (0.37) % (0.24) % (0.30) % (0.33) % (0.29) % (0.53) % 0.89 % 0.89 % 0.89 % 0.89 % Total return attributed to Shares based on net asset value (5) (8) 8.01 % (1.68) % 8.27 % 8.10 % 8.01 % 7.18 % 9.25 % 9.17 % 9.34 % 9.34 % The following is a schedule of the financial highlights of the Company attributed to each class of shares for the period from June 1, 2023 (commencement of principal operations) through September 30, 2023: Class I Shares Class U Shares Class R Shares Class D Shares Class F Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (June 1, 2023) $ — $ — $ — $ — $ — $ 25.00 $ — Consideration from the issuance of shares 26.19 25.84 25.87 26.17 26.50 — 25.00 Repurchase of shares (2) — — — — — — — Accrued shareholder servicing fees and distribution fees (2) — (3.00) — (0.62) — — — Distributions declared (3) (0.24) (0.18) (0.24) (0.22) (0.18) — — Net investment (loss) income (2) 0.40 0.16 0.16 0.31 0.56 — — Net change in unrealized appreciation (depreciation) (2) (0.05) 1.75 0.51 0.31 (0.22) 1.84 1.84 Net increase (decrease) in net assets attributed to shareholders 0.11 (1.27) 0.43 (0.22) 0.16 1.84 1.84 Net asset value per share at the end of period (September 30, 2023) $ 26.30 $ 24.57 $ 26.30 $ 25.95 $ 26.66 $ 26.84 $ 26.84 Net assets at end of period (September 30, 2023) $ 1,091 $ 446,105 $ 299,612 $ 117 $ 985 $ 1 $ 1 Shares outstanding at end of period (September 30, 2023) 41,465 18,152,960 11,391,774 4,509 36,944 40 40 Weighted average shares outstanding at end of period (September 30, 2023) 17,435 10,594,184 6,724,324 3,248 14,381 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to average net asset value: (4) Operating expenses before Performance Participation Allocation (5) 0.41 % 0.61 % 0.58 % 0.48 % 0.20 % 0.35 % 0.35 % Operating expenses before expenses reimbursed by Manager (5) (6) 1.32 % 2.24 % 2.09 % 1.40 % 0.79 % 1.40 % 1.40 % Operating expenses after expenses reimbursed by Manager (5) (6) 0.70 % 1.22 % 1.14 % 0.71 % 0.20 % 0.35 % 0.35 % Operating expenses after Performance Participation Allocation (5) (7) 0.70 % 1.22 % 1.14 % 0.71 % 0.20 % 0.35 % 0.35 % Net investment income (loss) (5) 1.41 % 0.66 % 0.63 % 0.71 % 2.04 % 0.92 % 0.92 % Total return attributed to Shares based on net asset value (5) (8) 3.07 % (6.90) % 5.07 % (0.25) % 3.56 % 7.00 % 7.00 % (1) Per share data may be rounded in order to recompute the ending net asset value per share. (2) The per share data was derived by using the weighted average shares outstanding during the applicable period. (3) The per share data for distributions declared reflect the actual amount of distributions paid per share during the applicable period. (4) Actual results may not be indicative of future results. Additionally, an individual Shareholder’s ratios may vary from the ratios presented for a share class as a whole. (5) Weighted average net assets during the applicable period are used for this calculation. (6) Ratios presented after accounting for the accrual of the Performance Participation Allocation. (7) Ratios presented after expenses reimbursed and/or recouped by Manager. (8) The Total return is calculated for each share class as the change in the net asset value for such share class during the period plus any distributions per share declared in the period, and assumes any distributions are reinvested in accordance with the Company’s distribution reinvestment plan. Amounts are not annualized and are not representative of total return as calculated for purposes of the Performance Participation Allocation as described in “ Note 5. Related Party Transactions .” The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by Shareholders in the purchase of the Company’s shares. See “ Note 8. Distributions

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company operates so that it will qualify to be treated as a partnership for U.S. federal income tax purposes under the Internal Revenue Code of 1986, as amended, and not as a publicly traded partnership taxable as a corporation. As such, it will not be subject to any U.S. federal and state income taxes. In any year, it is possible that the Company will be considered a publicly traded partnership and will not meet the qualifying income exception, which would result in the Company being treated as a publicly traded partnership and taxed as a corporation, rather than as a partnership. In such case, the members would then be treated as shareholders in a corporation, and the Company would become taxable as a corporation for U.S. federal, state and/or local income tax purposes. The Company would be required to pay income tax at corporate rates on its net taxable income. In addition, the Company operates, in part, through subsidiaries that may be treated as corporations for U.S. and non-U.S. tax purposes and therefore may be subject to current and deferred U.S. federal, state and/or local income taxes at the subsidiary level. The effective tax rate was 0.6% and 0.9% for the three and nine months ended September 30, 2024, respectively. The primary items giving rise to the difference between the 0% federal statutory rate applicable to partnerships and the effective tax rate is due to US federal, state, and local taxes on the Company's subsidiaries.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Unregistered Sales of Equity Securities On October 1, 2024, the Company sold the following Investor Shares of the Company (with the final number of shares determined on October 18, 2024) to third party investors for cash: Class Number of Shares Sold Consideration, net Class S Shares 2,004,799 $ 56,684 Class I Shares 1,466,774 41,441 Class D Shares 67,890 1,917 Total $ 100,042 Performance Participation Allocation On October 1, 2024, the Company issued 1,133,884 Class F Shares to KKR in satisfaction of the Performance Participation Allocation accrual of $33,038 due to KKR as of September 30, 2024. Distribution Reinvestment Plan On October 25, 2024, pursuant to the DRIP, the Company issued approximately 59,749 Class I Shares, approximately 73,387 Class S Shares, approximately 311,918 Class U Shares, approximately 7,452 Class R-D Shares, approximately 221,527 Class R Shares, approximately 5,626 Class D Shares and approximately 31 Class F Shares, for aggregate consideration of $19,199 from the reinvestment in shares of the Company for shareholders participating in the DRIP. On November 7, 2024, the Company adopted an Amended and Restated Distribution Reinvestment Plan (the “A&R DRIP”), effective November 7, 2024, pursuant to which cash distributions to holders of the Company’s Shares will automatically be reinvested in whole and fractional Shares attributed to the class of Shares that a shareholder owns unless such holders elect to receive such distribution in cash. Pursuant to the A&R DRIP, if a shareholder requests that the Company repurchase all of the shareholder’s Shares pursuant to the Company's share repurchase plan, such shareholder’s participation in the A&R DRIP shall be deemed terminated effective upon the Company’s receipt of such request, regardless of whether or not the Company accepts all such shares for repurchase pursuant to the share repurchase plan, provided, that, if such shareholder subsequently withdraws its request prior to the applicable deadline therefor under the share repurchase plan, such shareholder may participate in the A&R DRIP by notifying the Company and the plan administrator of the A&R DRIP at least three (3) days prior to the record date of a distribution from the Company. Share Repurchases The Company has a share repurchase plan, whereby on a quarterly basis, Shareholders may request that the Company repurchase all or any portion of their Shares. The aggregate NAV of total repurchases of Class S Shares, Class D Shares, Class U Shares, Class I Shares, Class R-D Shares, Class R-S Shares, Class R Shares and Class F Shares, if any, will be limited to no more that 5.0% of the NAV per calendar quarter (measured using the average aggregate NAV attributable to Shareholders as of the end of the immediately preceding calendar quarter). The following table summarizes the Shares repurchased on November 5, 2024 by the Company in connection with the Company’s share repurchase plan: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Class U Shares $ 28.23 51,455 $ 1,453 $ 71 $ 1,382 Class R Shares 28.25 32,980 932 46 886 Class S Shares 28.27 9,085 257 13 244 Class I Shares 28.25 3,185 90 4 86 Total 96,705 $ 2,732 $ 134 $ 2,598 Revolving Credit Facility Upsize On October 9, 2024, the Borrowers entered into a second amendment (the “Second Amendment”) to the Credit Agreement. Pursuant to the Second Amendment, the credit available to the Borrowers was increased by $100,000 to an aggregate principal amount of $400,000. On October 9, 2024, the Company remitted $500 to the Dealer-Manager, an affiliate of the Company, for arranger fees related to the Second Amendment. Except as described above, the material terms of the Credit Agreement remain unchanged by the Second Amendment.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements (referred to hereafter as the “financial statements”) are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and are stated in United States (“U.S.”) dollars. The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in these consolidated financial statements. Actual results could differ from those estimates. The Company’s consolidated financial statements are prepared using the accounting and reporting guidance under Accounting Standards Codification 946, Financial Services—Investment Companies (“ASC 946”).
Basis of Consolidation	Basis of Consolidation As provided under Regulation S-X and ASC 946, the Company will generally not consolidate its investment in a company other than a wholly owned investment company or controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidates in its consolidated financial statements the accounts of certain wholly owned subsidiaries that meet the criteria. All significant intercompany balances and transactions have been eliminated in consolidation.
Adoption of new and revised accounting standards	Adoption of new and revised accounting standards The Company has reviewed recently issued accounting pronouncements and concluded that such pronouncements are either not applicable to the Company or no material impact is expected in the consolidated financial statements as a result of future adoption. For a detailed discussion about the Company’s significant accounting policies, see Note 2 to the audited financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. During the nine months ended September 30, 2024, there were no significant updates to the Company’s significant accounting policies.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
Schedule Infrastructure Assets Financial Information	The following table presents unaudited summarized financial information for the three and nine months ended September 30, 2024 and 2023 for the Infrastructure Assets in the aggregate in which the Company has an indirect equity interest: Summarized Operating Data: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 2,821,815 $ 2,164,345 $ 7,771,693 $ 6,309,620 Expenses 2,704,652 2,083,509 7,622,928 6,183,547 Income before taxes 117,163 80,836 148,765 126,073 Income tax expense (benefit) 56,217 24,894 (27,149) 51,975 Consolidated net income (loss) 60,946 55,942 175,914 74,098 Net income (loss) attributable to non-controlling interests (7,171) 3,083 (20,094) 10,547 Net income (loss) $ 68,117 $ 52,859 $ 196,008 $ 63,551

Fair Value Measurements - Inv_2

Fair Value Measurements - Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements of Investments, by Major Class	The following tables present fair value measurements of investments, by major class, according to the fair value hierarchy: September 30, 2024 Investments Level I Level II Level III Investments Measured at Net Asset Value (1) Fair Value Infrastructure Assets $ — $ — $ 2,781,612 $ 45,000 $ 2,826,612 Unrealized appreciation on foreign currency forward contracts — — — — — Unrealized depreciation on foreign currency forward contracts — (5,238) — — (5,238) Investments in Money Market Funds 291,434 — — — 291,434 Total $ 291,434 $ (5,238) $ 2,781,612 $ 45,000 $ 3,112,808 (1) Certain investments that are measured at fair value using the net asset value practical expedient under ASC 820 have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Assets and Liabilities. December 31, 2023 Investments Level I Level II Level III Fair Value Infrastructure Assets $ — $ — $ 983,552 $ 983,552 Unrealized appreciation on foreign currency forward contracts — 28 — 28 Unrealized depreciation on foreign currency forward contracts — (18,890) — (18,890) Investments in Money Market Funds 278,417 — — 278,417 Total $ 278,417 $ (18,862) $ 983,552 $ 1,243,107
Schedule of Reconciliation of Infrastructure Assets, Level III Inputs	The following table provides a reconciliation of the beginning and ending balances for investments that use Level III inputs for the nine months ended September 30, 2024: Investments Balance as of December 31, 2023 Purchases Proceeds from sales and repayments Net change in unrealized appreciation on investments Net change in unrealized appreciation on foreign currency translation Balance as of September 30, 2024 Infrastructure Assets $ 983,552 $ 1,568,685 $ (2,353) $ 157,960 $ 73,768 $ 2,781,612 Total $ 983,552 $ 1,568,685 $ (2,353) $ 157,960 $ 73,768 $ 2,781,612 The following table provides a reconciliation of the beginning and ending balances for investments that use Level III inputs for the nine months ended September 30, 2023: Investments Balance as of December 31, 2022 Purchases Net change in unrealized appreciation on investments Net change in unrealized depreciation on foreign currency translation Balance as of September 30, 2023 Infrastructure Assets $ — $ 456,513 $ 23,885 $ (849) $ 479,549 Total $ — $ 456,513 $ 23,885 $ (849) $ 479,549
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following table presents the quantitative information about Level III fair value measurements of the Company’s Infrastructure Assets as of September 30, 2024 and December 31, 2023: As of September 30, 2024 As of December 31, 2023 Level III Assets Fair Value September 30, 2024 Fair Value December 31, 2023 Valuation Methodology & Inputs Unobservable Input(s) (1) Weighted Average (2) Range Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Infrastructure Assets $2,781,612 $983,552 Inputs to market comparables, discounted cash flow and transaction price/other Illiquidity Discount 5.8% 5.0% - 10.0% 5.1% 5.0% - 10.0% Decrease Weight Ascribed to Market Comparables 1.4% 0.0% - 25.0% 4.0% 0.0% - 25.0% (4) Weight Ascribed to Discounted Cash Flow 90.3% 0.0% - 100.0% 94.6% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price/Other 8.3% 0.0% - 100.0% 1.4% 0.0% - 100.0% (6) Market comparables Enterprise Value / Forward EBITDA Multiple 11.0x 11.0x - 11.0x 10.5x 10.5x - 10.5x Increase Discounted cash flow Weighted Average Cost of Capital 9.6% 6.4% - 15.1% 9.7% 6.7% - 12.1% Decrease Enterprise Value / LTM EBITDA Exit Multiple 14.5x 7.0x - 23.0x 13.9x 9.5x - 21.0x Increase (1) In determining the inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies, and company-specific developments including exit strategies and realization opportunities. The Manager has determined that market participants would take these inputs into account when valuing the investments. “LTM” means Last Twelve Months. (2) Inputs are weighted based on fair value of the investments included in the range. (3) Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. (4) The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price approach. (5) The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach and transaction price approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach and transaction price approach. (6) The directional change from an increase in the weight ascribed to the transaction price approach would increase the fair value of the Level III investments if the transaction price approach results in a higher valuation than the market comparables approach and discounted cash flow approach. The opposite would be true if the transaction price approach results in a lower valuation than the market comparables approach and discounted cash flow approach. Valuations involve subjective judgments and may not accurately reflect realizable value. The assumptions above are determined by the Manager and reviewed by the Manager’s independent valuation advisor. A change in these assumptions or factors would impact the calculation of the value of our assets.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Subject to Recoupment Pursuant to the Expense Limitation Agreement	The following table reflects the amounts subject to recoupment pursuant to the Expense Limitation Agreement and the expiration for future possible recoupments by the Manager as of September 30, 2024: For the Three Months Ended Amount Last Expiration Date September 30, 2022 $ 2,822 September 30, 2025 December 31, 2022 1,797 December 31, 2025 March 31, 2023 2,963 March 31, 2026 June 30, 2023 1,771 June 30, 2026 September 30, 2023 3,906 September 30, 2026 December 31, 2023 2,474 December 31, 2026 March 31, 2024 1,923 March 31, 2027 June 30, 2024 454 June 30, 2027 September 30, 2024 — September 30, 2027 Total $ 18,110

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accelerated Share Repurchases	The following table is a summary of the movement in the Company’s outstanding Shares during the three months ended September 30, 2024: Shares Outstanding as of June 30, 2024 Shares Issued During the Period Shares Repurchased During the Period Shares Issued Upon Reinvestment of Distributions During the Period Transfers In Transfers Out Shares Outstanding as of September 30, 2024 Class I Shares 2,537,525 6,095,191 — 18,030 1,368 — 8,652,114 Class S Shares 2,977,216 7,590,155 — 20,275 — — 10,587,646 Class U Shares 46,526,340 — (37,579) 308,755 — (42,536) 46,754,980 Class R-D Shares 750,832 — — 7,324 — — 758,156 Class R Shares 28,963,732 — (1,000) 218,030 41,052 — 29,221,814 Class D Shares 397,968 391,885 — 3,765 — — 793,618 Class R-S Shares — — — — — — — Class E Shares 40 — — — — — 40 Class F Shares 53,127 2,555 — 27 — — 55,709 Class G Shares 40 — — — — — 40 Class H Shares 40 — — — — — 40 Total 82,206,860 14,079,786 (38,579) 576,206 42,420 (42,536) 96,824,157 The following table is a summary of the movement in the Company’s outstanding Shares during the nine months ended September 30, 2024: Shares Outstanding as of December 31, 2023 Shares Issued During the Period Shares Repurchased During the Period Shares Issued Upon Reinvestment of Distributions During the Period Transfers In Transfers Out Shares Outstanding as of September 30, 2024 Class I Shares 131,691 7,946,023 — 18,109 687,982 (131,691) 8,652,114 Class S Shares — 10,473,522 — 20,275 93,849 — 10,587,646 Class U Shares 28,088,229 18,267,917 (83,433) 691,329 — (209,062) 46,754,980 Class R-D Shares 353,076 371,276 — 14,404 19,400 — 758,156 Class R Shares 16,671,146 12,451,967 (30,001) 495,583 317,621 (684,502) 29,221,814 Class D Shares 380 789,466 — 3,772 — — 793,618 Class R-S Shares — 93,561 — 220 — (93,781) — Class E Shares 40 — — — — — 40 Class F Shares 49,830 5,815 — 64 — — 55,709 Class G Shares 40 — — — — — 40 Class H Shares 40 — — — — — 40 Total 45,294,472 50,399,547 (113,434) 1,243,756 1,118,852 (1,119,036) 96,824,157 The following table is a summary of the movement in the Company’s outstanding Shares during the three months ended September 30, 2023: Shares Outstanding as of June 30, 2023 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 41,465 — 41,465 Class U Shares 5,012,365 13,140,595 — 18,152,960 Class R Shares 2,957,453 8,434,321 — 11,391,774 Class D Shares — 4,509 — 4,509 Class E Shares 9,960,519 — (9,960,519) — Class F Shares — 36,944 — 36,944 Class G Shares 40 — — 40 Class H Shares 40 — — 40 Total 17,930,417 21,657,834 (9,960,519) 29,627,732 The following table is a summary of the movement in the Company’s outstanding Shares during the nine months ended September 30, 2023: Shares Outstanding as of December 31, 2022 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 41,465 — 41,465 Class U Shares — 18,152,960 — 18,152,960 Class R Shares — 11,391,774 — 11,391,774 Class D Shares — 4,509 — 4,509 Class E Shares — 17,760,519 (17,760,519) — Class F Shares — 36,944 — 36,944 Class G Shares 40 — — 40 Class H Shares — 40 — 40 Total 40 47,388,211 (17,760,519) 29,627,732
Schedule of Repurchase Agreements	The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on February 5, 2024: Class U Shares $ 26.94 4,060 $ 109 $ 5 $ 104 Class R Shares 26.96 9,644 260 13 247 Shares repurchased on May 6, 2024: Class U Shares 27.17 41,794 1,136 51 1,085 Class R Shares 27.19 19,357 526 26 500 Shares repurchased on August 5, 2024: Class U Shares 27.48 37,579 1,033 52 981 Class R Shares 27.50 1,000 27 1 26 Total 113,434 $ 3,091 $ 148 $ 2,943 The following table summarizes the Shares repurchased on November 5, 2024 by the Company in connection with the Company’s share repurchase plan: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Class U Shares $ 28.23 51,455 $ 1,453 $ 71 $ 1,382 Class R Shares 28.25 32,980 932 46 886 Class S Shares 28.27 9,085 257 13 244 Class I Shares 28.25 3,185 90 4 86 Total 96,705 $ 2,732 $ 134 $ 2,598

Distributions (Tables)

Distributions (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Distributions Declared	The following table details aggregate quarterly distributions per share declared to shareholders as of applicable record date for each applicable class of the Company’s shares for each of the three and nine months ended September 30, 2024: Record Date Class I Shares Class S Shares Class U Shares Class R-D Shares Class R Shares Class D Shares Class R-S Shares Class E Shares Class F Shares March 31, 2024 $ 0.2800 $ — $ 0.2221 $ 0.2630 $ 0.2800 $ 0.2630 $ 0.2220 $ 0.2800 $ 0.2800 June 30, 2024 0.2900 0.2316 0.2317 0.2728 0.2900 0.2728 — 0.2900 0.2900 September 30, 2024 0.3000 0.2401 0.2402 0.2824 0.3000 0.2824 — 0.3000 0.3000 Total $ 0.8700 $ 0.4717 $ 0.6940 $ 0.8182 $ 0.8700 $ 0.8182 $ 0.2220 $ 0.8700 $ 0.8700

Financial Highlights (Tables)

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
Schedule of Financial Highlights	The following is a schedule of the financial highlights of the Company attributed to each class of shares for the period from January 1, 2024 through September 30, 2024: Class I Shares Class S Shares Class U Shares Class R-D Shares Class R Shares Class D Shares Class E Shares Class F Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (January 1, 2024) $ 26.96 $ — $ 25.16 $ 26.41 $ 26.96 $ 26.61 $ 27.47 $ 27.49 $ 27.94 $ 27.94 Consideration from the issuance of shares (0.02) 3.70 0.82 0.33 — 0.81 — — — — Repurchases of shares — — — — — — — — — — Reinvestment of distributions — 0.01 0.03 0.01 — 0.01 — — — — Transfers in — 27.36 — 0.02 — — — — — — Transfers out — — (0.01) — — — — — — — Accrued shareholder servicing fees and distribution fees (2) — (3.68) (0.86) (0.35) — (1.79) — — — — Early repurchase fee (2) — — — — — — — — — — Distributions declared (3) (0.87) (0.47) (0.69) (0.82) (0.87) (0.82) (0.87) (0.87) — — Net investment (loss) income (2) (0.10) (0.06) (0.08) (0.09) (0.08) (0.15) 0.23 0.25 0.23 0.23 Net realized gain (loss) and change in unrealized appreciation (depreciation) (2) 2.28 (0.43) 2.18 2.22 2.24 3.03 2.31 2.27 2.38 2.38 Net increase (decrease) in net assets attributed to shareholders 1.29 (0.93) 1.39 1.32 1.29 1.09 1.67 1.65 2.61 2.61 Net asset value per share at the end of period (September 30, 2024) $ 28.25 $ 26.43 $ 26.55 $ 27.73 $ 28.25 $ 27.70 $ 29.14 $ 29.14 $ 30.55 $ 30.55 Net assets at end of period (September 30, 2024) $ 244,448 $ 279,848 $ 1,241,328 $ 21,026 $ 825,633 $ 21,984 $ 1 $ 1,623 $ 1 $ 1 Shares outstanding at end of period (September 30, 2024) 8,652,114 10,587,646 46,754,980 758,156 29,221,814 793,618 40 55,709 40 40 Weighted average shares outstanding at end of period (September 30, 2024) 2,491,724 5,444,788 41,896,181 636,275 25,947,611 245,788 40 53,164 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to average net asset value: (4) Operating expenses before Performance Participation Allocation (5) (7) 0.58 % 0.35 % 0.54 % 0.52 % 0.51 % 0.62 % 0.51 % 0.51 % 0.51 % 0.51 % Operating expenses before expenses reimbursed and/or recouped by Manager (5) (6) 2.11 % 1.26 % 1.88 % 1.83 % 1.77 % 2.17 % 0.63 % 0.62 % 0.62 % 0.62 % Operating expenses after expenses reimbursed and/or recouped by Manager (5) (6) 2.18 % 1.31 % 1.79 % 1.76 % 1.69 % 2.25 % 0.51 % 0.51 % 0.51 % 0.51 % Operating expenses after Performance Participation Allocation (5) (7) 2.18 % 1.31 % 1.79 % 1.76 % 1.69 % 2.25 % 0.51 % 0.51 % 0.51 % 0.51 % Net investment income (loss) (5) (0.37) % (0.24) % (0.30) % (0.33) % (0.29) % (0.53) % 0.89 % 0.89 % 0.89 % 0.89 % Total return attributed to Shares based on net asset value (5) (8) 8.01 % (1.68) % 8.27 % 8.10 % 8.01 % 7.18 % 9.25 % 9.17 % 9.34 % 9.34 % The following is a schedule of the financial highlights of the Company attributed to each class of shares for the period from June 1, 2023 (commencement of principal operations) through September 30, 2023: Class I Shares Class U Shares Class R Shares Class D Shares Class F Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (June 1, 2023) $ — $ — $ — $ — $ — $ 25.00 $ — Consideration from the issuance of shares 26.19 25.84 25.87 26.17 26.50 — 25.00 Repurchase of shares (2) — — — — — — — Accrued shareholder servicing fees and distribution fees (2) — (3.00) — (0.62) — — — Distributions declared (3) (0.24) (0.18) (0.24) (0.22) (0.18) — — Net investment (loss) income (2) 0.40 0.16 0.16 0.31 0.56 — — Net change in unrealized appreciation (depreciation) (2) (0.05) 1.75 0.51 0.31 (0.22) 1.84 1.84 Net increase (decrease) in net assets attributed to shareholders 0.11 (1.27) 0.43 (0.22) 0.16 1.84 1.84 Net asset value per share at the end of period (September 30, 2023) $ 26.30 $ 24.57 $ 26.30 $ 25.95 $ 26.66 $ 26.84 $ 26.84 Net assets at end of period (September 30, 2023) $ 1,091 $ 446,105 $ 299,612 $ 117 $ 985 $ 1 $ 1 Shares outstanding at end of period (September 30, 2023) 41,465 18,152,960 11,391,774 4,509 36,944 40 40 Weighted average shares outstanding at end of period (September 30, 2023) 17,435 10,594,184 6,724,324 3,248 14,381 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to average net asset value: (4) Operating expenses before Performance Participation Allocation (5) 0.41 % 0.61 % 0.58 % 0.48 % 0.20 % 0.35 % 0.35 % Operating expenses before expenses reimbursed by Manager (5) (6) 1.32 % 2.24 % 2.09 % 1.40 % 0.79 % 1.40 % 1.40 % Operating expenses after expenses reimbursed by Manager (5) (6) 0.70 % 1.22 % 1.14 % 0.71 % 0.20 % 0.35 % 0.35 % Operating expenses after Performance Participation Allocation (5) (7) 0.70 % 1.22 % 1.14 % 0.71 % 0.20 % 0.35 % 0.35 % Net investment income (loss) (5) 1.41 % 0.66 % 0.63 % 0.71 % 2.04 % 0.92 % 0.92 % Total return attributed to Shares based on net asset value (5) (8) 3.07 % (6.90) % 5.07 % (0.25) % 3.56 % 7.00 % 7.00 % (1) Per share data may be rounded in order to recompute the ending net asset value per share. (2) The per share data was derived by using the weighted average shares outstanding during the applicable period. (3) The per share data for distributions declared reflect the actual amount of distributions paid per share during the applicable period. (4) Actual results may not be indicative of future results. Additionally, an individual Shareholder’s ratios may vary from the ratios presented for a share class as a whole. (5) Weighted average net assets during the applicable period are used for this calculation. (6) Ratios presented after accounting for the accrual of the Performance Participation Allocation. (7) Ratios presented after expenses reimbursed and/or recouped by Manager. (8) The Total return is calculated for each share class as the change in the net asset value for such share class during the period plus any distributions per share declared in the period, and assumes any distributions are reinvested in accordance with the Company’s distribution reinvestment plan. Amounts are not annualized and are not representative of total return as calculated for purposes of the Performance Participation Allocation as described in “ Note 5. Related Party Transactions .” The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by Shareholders in the purchase of the Company’s shares. See “ Note 8. Distributions

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Schedule of Subsequent Events	On October 1, 2024, the Company sold the following Investor Shares of the Company (with the final number of shares determined on October 18, 2024) to third party investors for cash: Class Number of Shares Sold Consideration, net Class S Shares 2,004,799 $ 56,684 Class I Shares 1,466,774 41,441 Class D Shares 67,890 1,917 Total $ 100,042
Schedule of Repurchase Agreements	The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on February 5, 2024: Class U Shares $ 26.94 4,060 $ 109 $ 5 $ 104 Class R Shares 26.96 9,644 260 13 247 Shares repurchased on May 6, 2024: Class U Shares 27.17 41,794 1,136 51 1,085 Class R Shares 27.19 19,357 526 26 500 Shares repurchased on August 5, 2024: Class U Shares 27.48 37,579 1,033 52 981 Class R Shares 27.50 1,000 27 1 26 Total 113,434 $ 3,091 $ 148 $ 2,943 The following table summarizes the Shares repurchased on November 5, 2024 by the Company in connection with the Company’s share repurchase plan: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Class U Shares $ 28.23 51,455 $ 1,453 $ 71 $ 1,382 Class R Shares 28.25 32,980 932 46 886 Class S Shares 28.27 9,085 257 13 244 Class I Shares 28.25 3,185 90 4 86 Total 96,705 $ 2,732 $ 134 $ 2,598

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment Company, Nonconsolidated Subsidiary [Line Items]
Net increase in net assets resulting from operations	$ 97,308	$ 9,675	$ 171,440	$ 32,241
Investment Company, Nonconsolidated Subsidiaries
Investment Company, Nonconsolidated Subsidiary [Line Items]
Revenues	2,821,815	2,164,345	7,771,693	6,309,620
Expenses	2,704,652	2,083,509	7,622,928	6,183,547
Income before taxes	117,163	80,836	148,765	126,073
Income tax expense (benefit)	56,217	24,894	(27,149)	51,975
Consolidated net income (loss)	60,946	55,942	175,914	74,098
Net income (loss) attributable to non-controlling interests	(7,171)	3,083	(20,094)	10,547
Net increase in net assets resulting from operations	$ 68,117	$ 52,859	$ 196,008	$ 63,551

Fair Value Measurements - Inv_3

Fair Value Measurements - Investments - Schedule of Fair Value Measurements of Investments by Major Class (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Infrastructure Assets	$ 2,826,612	$ 983,552
Unrealized appreciation on foreign currency forward contracts	0	28
Unrealized depreciation on foreign currency forward contracts	(5,238)	(18,890)
Investments in Money Market Funds	291,434	278,417
Total	3,112,808	1,243,107
Level I
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments in Money Market Funds	291,434	278,417
Total	291,434	278,417
Level II
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unrealized appreciation on foreign currency forward contracts	0	28
Unrealized depreciation on foreign currency forward contracts	(5,238)	(18,890)
Investments in Money Market Funds		0
Total	(5,238)	(18,862)
Level III
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Infrastructure Assets	2,781,612	983,552
Total	2,781,612	$ 983,552
Investments Measured at Net Asset Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Infrastructure Assets	45,000
Total	$ 45,000

Fair Value Measurements - Inv_4

Fair Value Measurements - Investments - Schedule of Investment Holdings (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Investments
Beginning balance	$ 983,552	$ 0
Purchases	1,568,685	456,513
Proceeds from sales and repayments	(2,353)
Net change in unrealized appreciation on investments	157,960	23,885
Net change in unrealized appreciation (depreciation) on foreign currency translation	73,768	(849)
Ending balance	2,781,612	479,549
Infrastructure Assets
Investments
Beginning balance	983,552	0
Purchases	1,568,685	456,513
Proceeds from sales and repayments	(2,353)
Net change in unrealized appreciation on investments	157,960	23,885
Net change in unrealized appreciation (depreciation) on foreign currency translation	73,768	(849)
Ending balance	$ 2,781,612	$ 479,549

Fair Value Measurements - Inv_5

Fair Value Measurements - Investments - Narratives (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Net change in unrealized appreciation on investments	$ 157,960	$ 23,885
Net change in unrealized appreciation on foreign currency translation	$ 73,768	$ (849)

Fair Value Measurements - Inv_6

Fair Value Measurements - Investments - Schedule of Quantitative Information (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Infrastructure Assets	$ 2,826,612	$ 983,552
Level III
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Infrastructure Assets	$ 2,781,612	$ 983,552
Weighted Average | Level III | Illiquidity Discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.058	0.051
Weighted Average | Level III | Weight Ascribed to Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.014	0.040
Weighted Average | Level III | Weight Ascribed to Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.903	0.946
Weighted Average | Level III | Weight Ascribed to Transaction Price/Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.083	0.014
Weighted Average | Level III | Enterprise Value / Forward EBITDA Multiple | Market comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	11	10.5
Weighted Average | Level III | Weighted Average Cost of Capital | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.096	0.097
Weighted Average | Level III | Enterprise Value / LTM EBITDA Exit Multiple | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	14.5	13.9
Minimum | Level III | Illiquidity Discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.050	0.050
Minimum | Level III | Weight Ascribed to Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0	0
Minimum | Level III | Weight Ascribed to Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0	0
Minimum | Level III | Weight Ascribed to Transaction Price/Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0	0
Minimum | Level III | Enterprise Value / Forward EBITDA Multiple | Market comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	11	10.5
Minimum | Level III | Weighted Average Cost of Capital | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.064	0.067
Minimum | Level III | Enterprise Value / LTM EBITDA Exit Multiple | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	7	9.5
Maximum | Level III | Illiquidity Discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.100	0.100
Maximum | Level III | Weight Ascribed to Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.250	0.250
Maximum | Level III | Weight Ascribed to Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	1	1
Maximum | Level III | Weight Ascribed to Transaction Price/Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	1	1
Maximum | Level III | Enterprise Value / Forward EBITDA Multiple | Market comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	11	10.5
Maximum | Level III | Weighted Average Cost of Capital | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.151	0.121
Maximum | Level III | Enterprise Value / LTM EBITDA Exit Multiple | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	23	21

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)			3 Months Ended		9 Months Ended
	Aug. 09, 2024	Sep. 25, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Management fee expense			$ 6,834,000	$ 1,357,000	$ 15,861,000	$ 1,532,000
Management fee and expense credits			6,834,000	339,000	17,251,000	339,000
Accrued performance participation allocation			33,038,000		33,038,000		$ 8,335,000
Performance participation allocation			13,991,000	1,281,000	24,728,000	2,595,000
Accrued shareholder servicing fees and distribution fees			101,308,000		101,308,000		51,440,000
Amount			0	3,906,000	2,377,000	8,640,000
Recouped expenses			776,000	0	816,000	0
Due to Manager and affiliates			$ 6,129,000		$ 6,129,000		$ 19,174,000
Accounts Payable, Related Party, Type [Extensible Enumeration]			Manager		Manager		Manager
Due from Manager			$ 0		$ 0		$ 16,549,000
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]			Manager		Manager		Manager
Line of credit			$ 249,128,000		$ 249,128,000		$ 0
Consideration from the issuance of shares			$ 392,044,000	566,753,000	$ 1,380,957,000	1,210,012,000
Class H Shares
Related Party Transaction [Line Items]
Consideration from the issuance of shares						1,000
Class F Shares
Related Party Transaction [Line Items]
Number of shares issued as payment of performance participation allocation (in shares)			339		873
Value of issued shares as payment of performance participation allocation			$ 10,000		$ 25,000
Consideration from the issuance of shares			72,000	979,000	$ 162,000	979,000
Class E Shares
Related Party Transaction [Line Items]
Consideration from the issuance of shares						444,013,000
Total Return | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					12.50%
Catch-Up Rate | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					100%
Performance Participation Allocation, Excess Profits Percentage | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					100%
Performance Participation Allocation, Remaining Excess Profits Percentage | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					12.50%
Performance Participation Allocation, Percentage of Remaining Excess Profits | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					12.50%
Affiliated Entity
Related Party Transaction [Line Items]
Initial offering period (in months)		60 months
Minimum aggregate subscriptions required		$ 100,000,000
Minimum aggregate subscription, purchase period (in months)		12 months
Management fee expense			6,834,000	1,357,000	$ 15,861,000	1,532,000
Other fees earned, unapplied credits			18,582,000		18,582,000		6,533,000
Amount			0	3,906,000	$ 2,377,000	8,640,000
Recoupment period (in years)					3 years
Recouped expenses			776,000	0	$ 816,000	0
Aggregate principal amount			300,000,000		300,000,000
Line of credit			0		$ 0
Affiliated Entity | KKR Alternative Assets LLC
Related Party Transaction [Line Items]
Aggregate principal amount	$ 350,000,000
Extension option period	6 months
Debt instrument, basis spread on variable rate (as a percent)	3.25%				0%
Line of credit			249,128,000		$ 249,128,000
Cash remitted to acquire interests in Infrastructure Assets			378,487,000		378,487,000
Affiliated Entity | Class S Shares, Class U Shares, Class D Shares, and Class R-D
Related Party Transaction [Line Items]
Accrued shareholder servicing fees and distribution fees			$ 101,308,000		$ 101,308,000		$ 51,440,000
Affiliated Entity | Class E Shares | KKR Alternative Assets LLC
Related Party Transaction [Line Items]
Consideration from the issuance of shares				$ 0		$ 444,013,000
Affiliated Entity | Management Fee Rate Attributable to Class D, I and S Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)		1.25%
Affiliated Entity | Management Fee Rate Attributable to Class U, R-D, R-S and R Shares Following Acceptance of Initial Subscription of Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)		1%
Affiliated Entity | Management Fee Percentage Attributable to Class U, R-D, R-S and R Shares Thereafter
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)		1.25%
Affiliated Entity | Distribution Fees and Servicing Fees | Class S, Class R-S And Class U Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					0.85%
Affiliated Entity | Distribution Fee | Class S, Class R-S And Class U Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					0.60%
Affiliated Entity | Servicing Fee | Class S, Class R-S And Class U Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					0.25%
Affiliated Entity | Servicing Fee | Class D and R-D Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					0.25%
Affiliated Entity | Expense Limitation and Reimbursement Agreement
Related Party Transaction [Line Items]
Agreement term (in years)					3 years
Affiliated Entity | Expense Limitation and Reimbursement Agreement | Maximum
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)					0.60%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Subject to Recoupment Pursuant to the Expense Limitation Agreement (Details) - USD ($) $ in Thousands	3 Months Ended									27 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2024
Affiliated Entity
Related Party Transaction [Line Items]
Amount subject to recoupment	$ 0	$ 454	$ 1,923	$ 2,474	$ 3,906	$ 1,771	$ 2,963	$ 1,797	$ 2,822	$ 18,110

Shareholders_ Equity - Schedule

Shareholders’ Equity - Schedule of Shares Issued and Repurchased (Details) - shares				3 Months Ended		9 Months Ended
	Aug. 05, 2024	May 06, 2024	Feb. 05, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				82,206,860	17,930,417	45,294,472	40
Shares Issued During the Period (in shares)				14,079,786	21,657,834	50,399,547	47,388,211
Shares Repurchased During the Period (in shares)				(38,579)	(9,960,519)	(113,434)	(17,760,519)
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				576,206		1,243,756
Transfers In (in shares)				42,420		1,118,852
Transfers Out (in shares)				(42,536)		(1,119,036)
Shares Outstanding (in shares)				96,824,157	29,627,732	96,824,157	29,627,732
Class I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				2,537,525	0	131,691	0
Shares Issued During the Period (in shares)				6,095,191	41,465	7,946,023	41,465
Shares Repurchased During the Period (in shares)				0	0	0	0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				18,030		18,109
Transfers In (in shares)				1,368		687,982
Transfers Out (in shares)				0		(131,691)
Shares Outstanding (in shares)				8,652,114	41,465	8,652,114	41,465
Class S Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				2,977,216		0
Shares Issued During the Period (in shares)				7,590,155		10,473,522
Shares Repurchased During the Period (in shares)				0		0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				20,275		20,275
Transfers In (in shares)				0		93,849
Transfers Out (in shares)				0		0
Shares Outstanding (in shares)				10,587,646		10,587,646
Class U Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				46,526,340	5,012,365	28,088,229	0
Shares Issued During the Period (in shares)				0	13,140,595	18,267,917	18,152,960
Shares Repurchased During the Period (in shares)	(37,579)	(41,794)	(4,060)	(37,579)	0	(83,433)	0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				308,755		691,329
Transfers In (in shares)				0		0
Transfers Out (in shares)				(42,536)		(209,062)
Shares Outstanding (in shares)				46,754,980	18,152,960	46,754,980	18,152,960
Class R-D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				750,832		353,076
Shares Issued During the Period (in shares)				0		371,276
Shares Repurchased During the Period (in shares)				0		0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				7,324		14,404
Transfers In (in shares)				0		19,400
Transfers Out (in shares)				0		0
Shares Outstanding (in shares)				758,156		758,156
Class R Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				28,963,732	2,957,453	16,671,146	0
Shares Issued During the Period (in shares)				0	8,434,321	12,451,967	11,391,774
Shares Repurchased During the Period (in shares)	(1,000)	(19,357)	(9,644)	(1,000)	0	(30,001)	0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				218,030		495,583
Transfers In (in shares)				41,052		317,621
Transfers Out (in shares)				0		(684,502)
Shares Outstanding (in shares)				29,221,814	11,391,774	29,221,814	11,391,774
Class D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				397,968	0	380	0
Shares Issued During the Period (in shares)				391,885	4,509	789,466	4,509
Shares Repurchased During the Period (in shares)				0	0	0	0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				3,765		3,772
Transfers In (in shares)				0		0
Transfers Out (in shares)				0		0
Shares Outstanding (in shares)				793,618	4,509	793,618	4,509
Class R-S Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				0		0
Shares Issued During the Period (in shares)				0		93,561
Shares Repurchased During the Period (in shares)				0		0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				0		220
Transfers In (in shares)				0		0
Transfers Out (in shares)				0		(93,781)
Shares Outstanding (in shares)				0		0
Class E Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				40	9,960,519	40	0
Shares Issued During the Period (in shares)				0	0	0	17,760,519
Shares Repurchased During the Period (in shares)				0	(9,960,519)	0	(17,760,519)
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				0		0
Transfers In (in shares)				0		0
Transfers Out (in shares)				0		0
Shares Outstanding (in shares)				40	0	40	0
Class F Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				53,127	0	49,830	0
Shares Issued During the Period (in shares)				2,555	36,944	5,815	36,944
Shares Repurchased During the Period (in shares)				0	0	0	0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				27		64
Transfers In (in shares)				0		0
Transfers Out (in shares)				0		0
Shares Outstanding (in shares)				55,709	36,944	55,709	36,944
Class G Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				40	40	40	40
Shares Issued During the Period (in shares)				0	0	0	0
Shares Repurchased During the Period (in shares)				0	0	0	0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				0		0
Transfers In (in shares)				0		0
Transfers Out (in shares)				0		0
Shares Outstanding (in shares)				40	40	40	40
Class H Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding (in shares)				40	40	40	0
Shares Issued During the Period (in shares)				0	0	0	40
Shares Repurchased During the Period (in shares)				0	0	0	0
Shares Issued Upon Reinvestment of Distributions During the Period (in shares)				0		0
Transfers In (in shares)				0		0
Transfers Out (in shares)				0		0
Shares Outstanding (in shares)				40	40	40	40

Shareholders_ Equity - Narrativ

Shareholders’ Equity - Narrative (Details)	Sep. 30, 2024
Class S, Class D, Class U, Class I, Class R-S, Class R-D, Class R and Class F Shares
Class of Stock [Line Items]
Share repurchase limitation, maximum percentage (as a percent)	5%

Shareholders_ Equity - Schedu_2

Shareholders’ Equity - Schedule of Repurchase of Shares (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		4 Months Ended	9 Months Ended
	Aug. 05, 2024	May 06, 2024	Feb. 05, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Class of Stock [Line Items]
Number of Shares Repurchased (in shares)				38,579	9,960,519		113,434	17,760,519
Gross Consideration				$ 1,060	$ 262,727		$ 3,091	$ 457,727
5% Early Repurchase Fee							148
Net Consideration							$ 2,943
Early share repurchase fee (as a percent)				5%			5%
Class U Shares
Class of Stock [Line Items]
Repurchase Price per Share (in dollars per share)	$ 27.48	$ 27.17	$ 26.94			$ 0	$ 0
Number of Shares Repurchased (in shares)	37,579	41,794	4,060	37,579	0		83,433	0
Gross Consideration	$ 1,033	$ 1,136	$ 109	$ 1,033			$ 2,278
5% Early Repurchase Fee	52	51	5
Net Consideration	$ 981	$ 1,085	$ 104
Class R Shares
Class of Stock [Line Items]
Repurchase Price per Share (in dollars per share)	$ 27.50	$ 27.19	$ 26.96			$ 0	$ 0
Number of Shares Repurchased (in shares)	1,000	19,357	9,644	1,000	0		30,001	0
Gross Consideration	$ 27	$ 526	$ 260	$ 27			$ 813
5% Early Repurchase Fee	1	26	13
Net Consideration	$ 26	$ 500	$ 247

Credit Facility (Details)

Credit Facility (Details) - USD ($)			9 Months Ended
	Sep. 30, 2024	Apr. 03, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Payments of financing costs			$ 8,280,000	$ 0
Deferred financing costs	$ 9,373,000		9,373,000		$ 0
Line of credit	249,128,000		249,128,000		$ 0
Affiliated Entity
Debt Instrument [Line Items]
Payment for arranger fee earned		$ 750,000
Credit available to the borrowers		150,000,000
Increase in loan commitment amount		$ 1,000,000,000
Increase in borrowing capacity	150,000,000		150,000,000
Aggregate principal amount	300,000,000		300,000,000
Payments of financing costs	750,000
Commitment fee percentage		50%
Debt issuance costs		$ 10,519,000
Deferred financing costs	9,373,000		9,373,000
Line of credit	$ 0		$ 0
Affiliated Entity | Usage Less Than 50% of Aggregate Commitment
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage		0.50%
Affiliated Entity | Usage Equal to or Greater Than 50% of Aggregate Commitment
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage		0.40%
Affiliated Entity | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		3.25%
Affiliated Entity | Reference Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		2.25%
Affiliated Entity | Local Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		3.25%

Distributions - Aggregate Distr

Distributions - Aggregate Distribution Declared (Details) - $ / shares	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024
Class I Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	$ 0.3000	$ 0.2900	$ 0.2800	$ 0.8700
Class S Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	0.2401	0.2316	0	0.4717
Class U Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	0.2402	0.2317	0.2221	0.6940
Class R-D Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	0.2824	0.2728	0.2630	0.8182
Class R Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	0.3000	0.2900	0.2800	0.8700
Class D Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	0.2824	0.2728	0.2630	0.8182
Class R-S Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	0	0	0.2220	0.2220
Class E Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	0.3000	0.2900	0.2800	0.8700
Class F Shares
Class of Stock [Line Items]
Aggregate gross distributions declared per share (in dollars per share)	$ 0.3000	$ 0.2900	$ 0.2800	$ 0.8700

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Unfunded Commitment Related to Investment in Infrastructure Assets
Other Commitments [Line Items]
Other commitment	$ 259,861	$ 33,500

Financial Highlights (Details)

Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands				4 Months Ended	9 Months Ended
	Aug. 05, 2024	May 06, 2024	Feb. 05, 2024	Sep. 30, 2023	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Investment Company, Financial Highlights [Line Items]
Net assets at end of period					$ 2,635,893		$ 1,170,372
Shares outstanding at end of period (in shares)				29,627,732	96,824,157	82,206,860	45,294,472	17,930,417	40
Class I Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)				$ 0	$ 26.96
Consideration from the issuance of shares (in dollars per share)				26.19	(0.02)
Repurchases of shares (in dollars per share)				0	0
Reinvestment of distributions (in dollars per shares)					0
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)				0	0
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)				(0.24)	(0.87)
Net investment (loss) income (in dollars per share)				0.40	(0.10)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)				(0.05)	2.28
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)				0.11	1.29
Net asset value per share at end of period (in dollars per share)				$ 26.30	$ 28.25
Net assets at end of period				$ 1,091	$ 244,448		$ 3,552
Shares outstanding at end of period (in shares)				41,465	8,652,114	2,537,525	131,691	0	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.41%	0.58%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				1.32%	2.11%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				0.70%	2.18%
Operating expenses after Performance Participation Allocation (as a percent)				0.70%	2.18%
Net investment income (loss) (as a percent)				1.41%	(0.37%)
Total return attributed to Shares based on net asset value (as a percent)				3.07%	8.01%
Class I Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)				17,435	2,491,724
Class S Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)					$ 0
Consideration from the issuance of shares (in dollars per share)					3.70
Repurchases of shares (in dollars per share)					0
Reinvestment of distributions (in dollars per shares)					0.01
Transfers in (in dollars per share)					27.36
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)					(3.68)
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)					(0.47)
Net investment (loss) income (in dollars per share)					(0.06)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)					(0.43)
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)					(0.93)
Net asset value per share at end of period (in dollars per share)					$ 26.43
Net assets at end of period					$ 279,848
Shares outstanding at end of period (in shares)					10,587,646	2,977,216	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)					0.35%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)					1.26%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)					1.31%
Operating expenses after Performance Participation Allocation (as a percent)					1.31%
Net investment income (loss) (as a percent)					(0.24%)
Total return attributed to Shares based on net asset value (as a percent)					(1.68%)
Class S Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)					5,444,788
Class U Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)				$ 0	$ 25.16
Consideration from the issuance of shares (in dollars per share)				25.84	0.82
Repurchases of shares (in dollars per share)	$ 27.48	$ 27.17	$ 26.94	0	0
Reinvestment of distributions (in dollars per shares)					0.03
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					(0.01)
Accrued shareholder servicing fees and distribution fees (in dollars per share)				(3)	(0.86)
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)				(0.18)	(0.69)
Net investment (loss) income (in dollars per share)				0.16	(0.08)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)				1.75	2.18
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)				(1.27)	1.39
Net asset value per share at end of period (in dollars per share)				$ 24.57	$ 26.55
Net assets at end of period				$ 446,105	$ 1,241,328		$ 706,586
Shares outstanding at end of period (in shares)				18,152,960	46,754,980	46,526,340	28,088,229	5,012,365	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.61%	0.54%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				2.24%	1.88%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				1.22%	1.79%
Operating expenses after Performance Participation Allocation (as a percent)				1.22%	1.79%
Net investment income (loss) (as a percent)				0.66%	(0.30%)
Total return attributed to Shares based on net asset value (as a percent)				(6.90%)	8.27%
Class U Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)				10,594,184	41,896,181
Class R-D Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)					$ 26.41
Consideration from the issuance of shares (in dollars per share)					0.33
Repurchases of shares (in dollars per share)					0
Reinvestment of distributions (in dollars per shares)					0.01
Transfers in (in dollars per share)					0.02
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)					(0.35)
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)					(0.82)
Net investment (loss) income (in dollars per share)					(0.09)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)					2.22
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)					1.32
Net asset value per share at end of period (in dollars per share)					$ 27.73
Net assets at end of period					$ 21,026		$ 9,328
Shares outstanding at end of period (in shares)					758,156	750,832	353,076
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)					0.52%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)					1.83%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)					1.76%
Operating expenses after Performance Participation Allocation (as a percent)					1.76%
Net investment income (loss) (as a percent)					(0.33%)
Total return attributed to Shares based on net asset value (as a percent)					8.10%
Class R-D Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)					636,275
Class R Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)				$ 0	$ 26.96
Consideration from the issuance of shares (in dollars per share)				25.87	0
Repurchases of shares (in dollars per share)	$ 27.50	$ 27.19	$ 26.96	0	0
Reinvestment of distributions (in dollars per shares)					0
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)				0	0
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)				(0.24)	(0.87)
Net investment (loss) income (in dollars per share)				0.16	(0.08)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)				0.51	2.24
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)				0.43	1.29
Net asset value per share at end of period (in dollars per share)				$ 26.30	$ 28.25
Net assets at end of period				$ 299,612	$ 825,633		$ 449,523
Shares outstanding at end of period (in shares)				11,391,774	29,221,814	28,963,732	16,671,146	2,957,453	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.58%	0.51%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				2.09%	1.77%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				1.14%	1.69%
Operating expenses after Performance Participation Allocation (as a percent)				1.14%	1.69%
Net investment income (loss) (as a percent)				0.63%	(0.29%)
Total return attributed to Shares based on net asset value (as a percent)				5.07%	8.01%
Class R Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)				6,724,324	25,947,611
Class D Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)				$ 0	$ 26.61
Consideration from the issuance of shares (in dollars per share)				26.17	0.81
Repurchases of shares (in dollars per share)				0	0
Reinvestment of distributions (in dollars per shares)					0.01
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)				(0.62)	(1.79)
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)				(0.22)	(0.82)
Net investment (loss) income (in dollars per share)				0.31	(0.15)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)				0.31	3.03
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)				(0.22)	1.09
Net asset value per share at end of period (in dollars per share)				$ 25.95	$ 27.70
Net assets at end of period				$ 117	$ 21,984		$ 11
Shares outstanding at end of period (in shares)				4,509	793,618	397,968	380	0	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.48%	0.62%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				1.40%	2.17%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				0.71%	2.25%
Operating expenses after Performance Participation Allocation (as a percent)				0.71%	2.25%
Net investment income (loss) (as a percent)				0.71%	(0.53%)
Total return attributed to Shares based on net asset value (as a percent)				(0.25%)	7.18%
Class D Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)				3,248	245,788
Class E Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)					$ 27.47
Consideration from the issuance of shares (in dollars per share)					0
Repurchases of shares (in dollars per share)					0
Reinvestment of distributions (in dollars per shares)					0
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)					0
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)					(0.87)
Net investment (loss) income (in dollars per share)					0.23
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)					2.31
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)					1.67
Net asset value per share at end of period (in dollars per share)					$ 29.14
Net assets at end of period					$ 1		$ 1
Shares outstanding at end of period (in shares)				0	40	40	40	9,960,519	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)					0.51%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)					0.63%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)					0.51%
Operating expenses after Performance Participation Allocation (as a percent)					0.51%
Net investment income (loss) (as a percent)					0.89%
Total return attributed to Shares based on net asset value (as a percent)					9.25%
Class E Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)					40
Class F Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)				$ 0	$ 27.49
Consideration from the issuance of shares (in dollars per share)				26.50	0
Repurchases of shares (in dollars per share)				0	0
Reinvestment of distributions (in dollars per shares)					0
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)				0	0
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)				(0.18)	(0.87)
Net investment (loss) income (in dollars per share)				0.56	0.25
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)				(0.22)	2.27
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)				0.16	1.65
Net asset value per share at end of period (in dollars per share)				$ 26.66	$ 29.14
Net assets at end of period				$ 985	$ 1,623		$ 1,369
Shares outstanding at end of period (in shares)				36,944	55,709	53,127	49,830	0	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.20%	0.51%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				0.79%	0.62%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				0.20%	0.51%
Operating expenses after Performance Participation Allocation (as a percent)				0.20%	0.51%
Net investment income (loss) (as a percent)				2.04%	0.89%
Total return attributed to Shares based on net asset value (as a percent)				3.56%	9.17%
Class F Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)				14,381	53,164
Class G Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)				$ 25	$ 27.94
Consideration from the issuance of shares (in dollars per share)				0	0
Repurchases of shares (in dollars per share)				0	0
Reinvestment of distributions (in dollars per shares)					0
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)				0	0
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)				0	0
Net investment (loss) income (in dollars per share)				0	0.23
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)				1.84	2.38
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)				1.84	2.61
Net asset value per share at end of period (in dollars per share)				$ 26.84	$ 30.55
Net assets at end of period				$ 1	$ 1		$ 1
Shares outstanding at end of period (in shares)				40	40	40	40	40	40
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.35%	0.51%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				1.40%	0.62%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				0.35%	0.51%
Operating expenses after Performance Participation Allocation (as a percent)				0.35%	0.51%
Net investment income (loss) (as a percent)				0.92%	0.89%
Total return attributed to Shares based on net asset value (as a percent)				7%	9.34%
Class G Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)				40	40
Class H Shares
Investment Company, Financial Highlights [Line Items]
Net asset value per share at beginning of period (in dollars per share)				$ 0	$ 27.94
Consideration from the issuance of shares (in dollars per share)				25	0
Repurchases of shares (in dollars per share)				0	0
Reinvestment of distributions (in dollars per shares)					0
Transfers in (in dollars per share)					0
Transfers out (in dollars per share)					0
Accrued shareholder servicing fees and distribution fees (in dollars per share)				0	0
Early repurchase fee (in dollars per share)					0
Distributions declared (in dollars per share)				0	0
Net investment (loss) income (in dollars per share)				0	0.23
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in dollars per share)				1.84	2.38
Net increase (decrease) in net assets attributed to shareholders (in dollars per share)				1.84	2.61
Net asset value per share at end of period (in dollars per share)				$ 26.84	$ 30.55
Net assets at end of period				$ 1	$ 1		$ 1
Shares outstanding at end of period (in shares)				40	40	40	40	40	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.35%	0.51%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				1.40%	0.62%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				0.35%	0.51%
Operating expenses after Performance Participation Allocation (as a percent)				0.35%	0.51%
Net investment income (loss) (as a percent)				0.92%	0.89%
Total return attributed to Shares based on net asset value (as a percent)				7%	9.34%
Class H Shares | Weighted Average
Investment Company, Financial Highlights [Line Items]
Shares outstanding at end of period (in shares)				40	40

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Effective tax rate	0.60%	0.90%
Federal statutory income tax rate		0%

Subsequent Events - Schedule of

Subsequent Events - Schedule of Issued and Sold Investor Shares (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Oct. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Number of shares sold (in shares)		14,079,786	21,657,834	50,399,547	47,388,211
Consideration, net		$ 392,044	$ 566,753	$ 1,380,957	$ 1,210,012
Class S Shares
Subsequent Event [Line Items]
Number of shares sold (in shares)		7,590,155		10,473,522
Consideration, net		$ 211,164		$ 290,362
Class I Shares
Subsequent Event [Line Items]
Number of shares sold (in shares)		6,095,191	41,465	7,946,023	41,465
Consideration, net		$ 169,846	$ 1,086	$ 220,714	$ 1,086
Class D Shares
Subsequent Event [Line Items]
Number of shares sold (in shares)		391,885	4,509	789,466	4,509
Consideration, net		$ 10,963	$ 118	$ 21,882	$ 118
Subsequent Event
Subsequent Event [Line Items]
Consideration, net	$ 100,042
Subsequent Event | Class S Shares
Subsequent Event [Line Items]
Number of shares sold (in shares)	2,004,799
Consideration, net	$ 56,684
Subsequent Event | Class I Shares
Subsequent Event [Line Items]
Number of shares sold (in shares)	1,466,774
Consideration, net	$ 41,441
Subsequent Event | Class D Shares
Subsequent Event [Line Items]
Number of shares sold (in shares)	67,890
Consideration, net	$ 1,917

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($) $ in Thousands					3 Months Ended		9 Months Ended
	Oct. 25, 2024	Oct. 09, 2024	Oct. 01, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Nov. 05, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Number of shares issued (in shares)					14,079,786	21,657,834	50,399,547	47,388,211
Accrued performance participation allocation				$ 33,038	$ 33,038		$ 33,038			$ 8,335
Shares issued during the period (in shares)					576,206		1,243,756
Reinvestment of distributions					$ 15,838		$ 33,920
Payment of deferred financing costs							8,280	$ 0
Affiliated Entity
Subsequent Event [Line Items]
Increase in borrowing capacity				150,000	150,000		150,000
Aggregate principal amount				300,000	$ 300,000		$ 300,000
Payment of deferred financing costs				$ 750
Class I Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)					6,095,191	41,465	7,946,023	41,465
Shares issued during the period (in shares)					18,030		18,109
Reinvestment of distributions					$ 496		$ 498
Class S Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)					7,590,155		10,473,522
Shares issued during the period (in shares)					20,275		20,275
Reinvestment of distributions					$ 558		$ 558
Class U Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)					0	13,140,595	18,267,917	18,152,960
Shares issued during the period (in shares)					308,755		691,329
Reinvestment of distributions					$ 8,484		$ 18,845
Class R-D Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)					0		371,276
Shares issued during the period (in shares)					7,324		14,404
Reinvestment of distributions					$ 201		$ 392
Class R Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)					0	8,434,321	12,451,967	11,391,774
Shares issued during the period (in shares)					218,030		495,583
Reinvestment of distributions					$ 5,995		$ 13,516
Class D Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)					391,885	4,509	789,466	4,509
Shares issued during the period (in shares)					3,765		3,772
Reinvestment of distributions					$ 103		$ 103
Class F Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)					2,555	36,944	5,815	36,944
Shares issued during the period (in shares)					27		64
Reinvestment of distributions					$ 1		$ 2
Class S, Class D, Class U, Class I, Class R-S, Class R-D, Class R and Class F Shares
Subsequent Event [Line Items]
Share repurchase limitation, maximum percentage (as a percent)				5%	5%		5%
Subsequent Event
Subsequent Event [Line Items]
Reinvestment of distributions	$ 19,199
Subsequent Event | Affiliated Entity
Subsequent Event [Line Items]
Increase in borrowing capacity		$ 100,000
Aggregate principal amount		400,000
Payment of deferred financing costs		$ 500
Subsequent Event | Class I Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)			1,466,774
Shares issued during the period (in shares)	59,749
Subsequent Event | Class S Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)			2,004,799
Shares issued during the period (in shares)	73,387
Subsequent Event | Class U Shares
Subsequent Event [Line Items]
Shares issued during the period (in shares)	311,918
Subsequent Event | Class R-D Shares
Subsequent Event [Line Items]
Shares issued during the period (in shares)	7,452
Subsequent Event | Class R Shares
Subsequent Event [Line Items]
Shares issued during the period (in shares)	221,527
Subsequent Event | Class D Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)			67,890
Shares issued during the period (in shares)	5,626
Subsequent Event | Class F Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)			1,133,884
Shares issued during the period (in shares)	31
Subsequent Event | Class S, Class D, Class U, Class I, Class R-S, Class R-D, Class R and Class F Shares
Subsequent Event [Line Items]
Share repurchase limitation, maximum percentage (as a percent)									5%

Subsequent Events - Schedule _2

Subsequent Events - Schedule of Repurchase of Shares (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended		4 Months Ended	9 Months Ended
	Nov. 05, 2024	Aug. 05, 2024	May 06, 2024	Feb. 05, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Number of Shares Repurchased (in shares)					38,579	9,960,519		113,434	17,760,519
Gross Consideration					$ 1,060	$ 262,727		$ 3,091	$ 457,727
5% Early Repurchase Fee								148
Net Consideration								$ 2,943
Early share repurchase fee (as a percent)					5%			5%
Class U Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)		$ 27.48	$ 27.17	$ 26.94			$ 0	$ 0
Number of Shares Repurchased (in shares)		37,579	41,794	4,060	37,579	0		83,433	0
Gross Consideration		$ 1,033	$ 1,136	$ 109	$ 1,033			$ 2,278
5% Early Repurchase Fee		52	51	5
Net Consideration		$ 981	$ 1,085	$ 104
Class R Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)		$ 27.50	$ 27.19	$ 26.96			0	$ 0
Number of Shares Repurchased (in shares)		1,000	19,357	9,644	1,000	0		30,001	0
Gross Consideration		$ 27	$ 526	$ 260	$ 27			$ 813
5% Early Repurchase Fee		1	26	13
Net Consideration		$ 26	$ 500	$ 247
Class S Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)								$ 0
Number of Shares Repurchased (in shares)					0			0
Class I Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)							$ 0	$ 0
Number of Shares Repurchased (in shares)					0	0		0	0
Subsequent Event
Subsequent Event [Line Items]
Number of Shares Repurchased (in shares)	96,705
Gross Consideration	$ 2,732
5% Early Repurchase Fee	134
Net Consideration	$ 2,598
Early share repurchase fee (as a percent)	5%
Subsequent Event | Class U Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)	$ 28.23
Number of Shares Repurchased (in shares)	51,455
Gross Consideration	$ 1,453
5% Early Repurchase Fee	71
Net Consideration	$ 1,382
Subsequent Event | Class R Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)	$ 28.25
Number of Shares Repurchased (in shares)	32,980
Gross Consideration	$ 932
5% Early Repurchase Fee	46
Net Consideration	$ 886
Subsequent Event | Class S Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)	$ 28.27
Number of Shares Repurchased (in shares)	9,085
Gross Consideration	$ 257
5% Early Repurchase Fee	13
Net Consideration	$ 244
Subsequent Event | Class I Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)	$ 28.25
Number of Shares Repurchased (in shares)	3,185
Gross Consideration	$ 90
5% Early Repurchase Fee	4
Net Consideration	$ 86