Phillip Street Middle Market Lending Fund 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 07, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	Phillip Street Middle Market Lending Fund LLC
Entity Central Index Key	0001948368
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity File Number	000-56488
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	92-0758632
Entity Address, Address Line One	200 West Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10282
City Area Code	312
Local Phone Number	655-4419
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		6,861,759
Entity Ex Transition Period	true

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Investments, at fair value
Non-controlled/non-affiliated investments (cost of $104,997 and $17,360)		$ 105,006	$ 17,352
Investments in affiliated money market fund (cost of $26,273 and $79,725)		26,273	79,725
Cash		32,552	104
Interest and dividends receivable		874	144
Deferred financing costs		3,144	0
Deferred offering costs		17	822
Other assets		7	0
Total assets		167,873	98,147
Liabilities
Debt		30,000	0
Interest and other debt expenses payable		789	0
Management fees payable		370	97
Professional fees payable		391	221
Accrued organization costs		28	217
Directors fees payable		20	0
Accrued deferred offering costs		162	788
Accrued expenses and other liabilities		640	164
Total liabilities		32,400	1,487
Commitments and contingencies (Note 7)
Members' capital
Preferred units (no units issued and outstanding)		0	0
Common units (6,861,759 and 4,955,147 units issued and outstanding as of September 30, 2023 and December 31, 2022 )		134,554	97,054
Distributable earnings (loss)		919	(394)
Total members' capital		135,473	96,660
Total liabilities and members' capital		$ 167,873	$ 98,147
Net asset value per share	[1]	$ 19.74	$ 19.51
[1] The per Unit data was derived by using the weighted average Units outstanding during the applicable period.

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Non-controlled/non-affiliated investments at cost	$ 104,997	$ 17,360
Investments in affiliated money market fund at cost	$ 26,273	$ 79,725
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares issued	6,861,759	4,955,147
Common stock, shares outstanding	6,861,759	4,955,147

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Net Investment Income [Line Items]
Total investment income	$ 2,875	$ 6,016
Expenses:
Interest and other debt expenses	929	1,877
Management Fee Expense	370	951
Directors fees	34	100
Professional Fees	165	571
Offering costs	317	980
Other General and Administrative Expense	206	527
Total expenses	2,021	5,006
Management fee waiver	0	(286)
Net Realized Gain Loss [Abstract]
Non-controlled/non-affiliated investments	0	0
Non-controlled/non-affiliated investments		17
Net realized and unrealized gains (losses)	77	17
Net increase (decrease) in members' capital from operations	$ 931	$ 1,313
Weighted average units outstanding	5,224,559	5,045,938
Net investment income (loss) per unit basic	$ 0.16	$ 0.26
Net investment income (loss) per unit diluted	0.16	0.26
Basic earnings (loss) per units	0.18	0.26
Diluted earnings (loss) per units	$ 0.18	$ 0.26
Net expenses	$ 2,021	$ 4,720
Net investment income (loss)	854	1,296
Non-Controlled/Non-Affiliated
Net Realized Gain Loss [Abstract]
Non-controlled/non-affiliated investments	0	0
Non Controlled Affiliated Investments
Net Investment Income [Line Items]
Dividend income	259	1,730
Non Controlled Non Affiliated Investments
Net Investment Income [Line Items]
Interest income	2,579	4,232
Other income	37	54
Net Realized Gain Loss [Abstract]
Non-controlled/non-affiliated investments	$ 77	$ 17

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2023
Cash flows from operating activities:
Net increase (decrease) in members' capital from operations	$ 931		$ 1,313
Adjustments to reconcile net increase (decrease) in members' capital from operations to net cash provided by (used for) operating activities:
Purchases of investments			(87,651)
Payment-in-kind interest capitalized			(3)
Investments in affiliated money market fund, net			53,452
Proceeds from sales of investments and principal repayments			177
Net change in unrealized (appreciation) depreciation on investments			(17)
Amortization of premium and accretion of discount, net			(160)
Amortization of deferred financing costs			460
Amortization of deferred offering costs			980
Change in operating assets and liabilities:
(Increase) decrease in interest and dividends receivable			(730)
(Increase) decrease in other assets			(7)
Increase (decrease) in interest and other debt expenses payable			755
Increase (decrease) in professional fees payable			170
Increase (decrease) in management fees payable			273
Increase (decrease) in accrued organization costs			(189)
Increase (decrease) in directors fees payable			20
Increase (decrease) in accrued expenses and other liabilities			476
Net cash provided by (used for) operating activities			(30,681)
Cash flows from financing activities:
Proceeds from issuance of common units		$ 97,510	37,500	$ 135,010
Offering costs paid			(801)
Financing costs paid			(3,570)
Borrowings on debt			30,000
Net cash provided by (used for) financing activities			63,129
Net increase (decrease) in cash			32,448
Cash, beginning of period			104
Cash, end of period	$ 32,552	$ 104	$ 32,552	$ 32,552

Consolidated Statement of Chang

Consolidated Statement of Changes in Members' Capital - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Statement of Partners' Capital [Abstract]
Members' capital at beginning of period	$ 97,042	$ 96,660
Net increase (decrease) in member's capital from operations:
Net investment income (loss)	854	1,296
Net realized gain (loss)	0	0
Net change in unrealized appreciation (depreciation)	77	17
Net increase (decrease) in members' capital from operations	931	1,313
Capital transactions:
Issuance of common units	37,500	37,500
Net increase in members' capital from capital transactions	37,500	37,500
Total increase (decrease) in members' capital	38,431	38,813
Members' capital at end of period	$ 135,473	$ 135,473

Consolidated Schedule of Invest

Consolidated Schedule of Investments - USD ($) $ in Thousands		Sep. 30, 2023		Dec. 31, 2022	Oct. 05, 2022
Schedule of Investments [Line Items]
Fair Value		$ 105,006		$ 17,352
Investment owned, percent of net assets		77.60%		18%
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche
Schedule of Investments [Line Items]
Cost	[1]	$ 9,601
Fair Value	[1]	$ 9,598
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche - 7.08%
Schedule of Investments [Line Items]
Investment owned, percent of net assets	[1]	7.08%
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche - 7.08% Thor FinanceCo LLC (dba Harmoni Towers) Wireless Telecommunication Services Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 08/24/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	12.42%
Reference Rate and Spread	[1],[2],[3]	7%
Maturity	[1],[3]	Aug. 24, 2028
Par/Shares	[1],[3],[4]	6,222,000
Cost	[1],[3]	$ 6,145
Fair Value	[1],[3]	$ 6,145
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche - 7.08% Thor FinanceCo LLC (dba Harmoni Towers) Wireless Telecommunication Services Reference Rate and Spread S + 7.00% Maturity 08/24/28
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	7%
Maturity	[1],[3],[5]	Aug. 24, 2028
Par/Shares	[1],[3],[4],[5]	3,778,000
Cost	[1],[3],[5]	$ (46)
Fair Value	[1],[3],[5]	$ (47)
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche - 7.08% Towerco IV Holdings, LLC Industry Wireless Telecommunication Services Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/31/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[5]	9.43%
Reference Rate and Spread	[1],[2],[3],[5]	4%
Maturity	[1],[3],[5]	Aug. 31, 2028
Par/Shares	[1],[3],[4],[5]	7,666,000
Cost	[1],[3],[5]	$ 3,502
Fair Value	[1],[3],[5]	3,500
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt
Schedule of Investments [Line Items]
Cost		95,396	[1]	$ 17,360
Fair Value		$ 95,408	[1]	$ 17,352
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt - 17.95%
Schedule of Investments [Line Items]
Investment owned, percent of net assets				17.95%
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt - 70.43%
Schedule of Investments [Line Items]
Investment owned, percent of net assets	[1]	70.43%
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Interest Rate 11.90% Reference Rate and Spread S + 6.50% Maturity 06/28/30
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	11.90%
Reference Rate and Spread	[1],[2],[3],[6]	6.50%
Maturity	[1],[3],[6]	Jun. 28, 2030
Par/Shares	[1],[3],[4],[6]	2,942,000
Cost	[1],[3],[6]	$ 2,870
Fair Value	[1],[3],[6]	$ 2,883
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Reference Rate and Spread S + 6.50% Maturity 06/28/30
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5],[6]	6.50%
Maturity	[1],[3],[5],[6]	Jun. 28, 2030
Par/Shares	[1],[3],[4],[5],[6]	679,000
Cost	[1],[3],[5],[6]	$ 8
Fair Value	[1],[3],[5],[6]	$ (14)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Interest Rate 12.08% Reference Rate and Spread S + 6.75% Maturity 07/18/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	12.08%
Reference Rate and Spread	[1],[2],[3]	6.75%
Maturity	[1],[3]	Jul. 18, 2028
Par/Shares	[1],[3],[4]	6,530,000
Cost	[1],[3]	$ 6,370
Fair Value	[1],[3]	$ 6,367
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	6.75%
Maturity	[1],[3],[5]	Jul. 18, 2028
Par/Shares	[1],[3],[4],[5]	837,000
Cost	[1],[3],[5]	$ (10)
Fair Value	[1],[3],[5]	$ (11)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28 One
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	6.75%
Maturity	[1],[3],[5]	Jul. 18, 2028
Par/Shares	[1],[3],[4],[5]	419,000
Cost	[1],[3],[5]	$ (10)
Fair Value	[1],[3],[5]	$ (11)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Crewline Buyer, Inc. (dba New Relic) Industry Software Reference Rate and Spread S + 6.75% Maturity 07/30/30
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	6.75%
Maturity	[1],[3],[5]	Jul. 30, 2030
Par/Shares	[1],[3],[4],[5]	786,000
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Crewline Buyer, Inc. (dba New Relic) Industry Software Reference Rate and Spread S + 6.75% Maturity 07/30/30 One
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	6.75%
Maturity	[1],[3],[5]	Jul. 30, 2030
Par/Shares	[1],[3],[4],[5]	7,547,000
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	12.42%
Reference Rate and Spread	[1],[2],[3],[6]	7%
Maturity	[1],[3],[6]	Jan. 31, 2029
Par/Shares	[1],[3],[4],[6]	4,763,000
Cost	[1],[3],[6]	$ 4,632
Fair Value	[1],[3],[6]	$ 4,668
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29 One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[5],[6]	12.42%
Reference Rate and Spread	[1],[2],[3],[5],[6]	7%
Maturity	[1],[3],[5],[6]	Jan. 31, 2029
Par/Shares	[1],[3],[4],[5],[6]	997,000
Cost	[1],[3],[5],[6]	$ 330
Fair Value	[1],[3],[5],[6]	$ 329
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Fullsteam Operations LLC Industry Diversified Financial Service Reference Rate and Spread S + 12.00% (Incl. 4.50% PIK) Maturity 05/01/30
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	12%
Reference Rate and Spread (+), PIK	[1],[2],[3],[5]	4.50%
Maturity	[1],[3],[5]	May 01, 2030
Par/Shares	[1],[3],[4],[5]	3,125,000
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Fullsteam Operations LLC Industry Diversified Financial Service Reference Rate and Spread S + 6.00% (Incl. 3.00% PIK) Maturity 05/01/30
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	6%
Reference Rate and Spread (+), PIK	[1],[2],[3],[5]	3%
Maturity	[1],[3],[5]	May 01, 2030
Par/Shares	[1],[3],[4],[5]	9,931,000
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Fullsteam Operations LLC Industry Diversified Financial Service Reference Rate and Spread S + 7.50% PIK Maturity 05/01/28
Schedule of Investments [Line Items]
Reference Rate and Spread (+), PIK	[1],[2],[3],[5]	7.50%
Maturity	[1],[3],[5]	May 01, 2028
Par/Shares	[1],[3],[4],[5]	556,000
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Fullsteam Operations LLC Industry Diversified Financial Service Reference Rate and Spread S + 7.76% PIK Maturity 05/01/30
Schedule of Investments [Line Items]
Reference Rate and Spread (+), PIK	[1],[2],[3],[5]	7.76%
Maturity	[1],[3],[5]	May 01, 2030
Par/Shares	[1],[3],[4],[5]	1,389,000
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Groundworks, LLC Industry Diversified Consumer Services Interest Rate 11.81% Reference Rate and Spread S + 6.50% Maturity 03/14/30
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	11.81%
Reference Rate and Spread	[1],[2],[3],[6]	6.50%
Maturity	[1],[3],[6]	Mar. 14, 2030
Par/Shares	[1],[3],[4],[6]	2,255,000
Cost	[1],[3],[6]	$ 2,192
Fair Value	[1],[3],[6]	$ 2,210
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 03/14/29
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5],[6]	6.50%
Maturity	[1],[3],[5],[6]	Mar. 14, 2029
Par/Shares	[1],[3],[4],[5],[6]	125,000
Cost	[1],[3],[5],[6]	$ (3)
Fair Value	[1],[3],[5],[6]	$ (3)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 03/14/30
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5],[6]	6.50%
Maturity	[1],[3],[5],[6]	Mar. 14, 2030
Par/Shares	[1],[3],[4],[5],[6]	277,000
Cost	[1],[3],[5],[6]	$ (4)
Fair Value	[1],[3],[5],[6]	$ (6)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Interest Rate 12.45% Reference Rate and Spread S + 6.75% Maturity 06/13/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	12.45%
Reference Rate and Spread	[1],[2],[3],[6]	6.75%
Maturity	[1],[3],[6]	Jun. 13, 2028
Par/Shares	[1],[3],[4],[6]	4,777,000
Cost	[1],[3],[6]	$ 4,640
Fair Value	[1],[3],[6]	$ 4,657
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5],[6]	6.75%
Maturity	[1],[3],[5],[6]	Jun. 13, 2028
Par/Shares	[1],[3],[4],[5],[6]	532,000
Cost	[1],[3],[5],[6]	$ (15)
Fair Value	[1],[3],[5],[6]	$ (13)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28 One
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5],[6]	6.75%
Maturity	[1],[3],[5],[6]	Jun. 13, 2028
Par/Shares	[1],[3],[4],[5],[6]	3,192,000
Cost	[1],[3],[5],[6]	$ (90)
Fair Value	[1],[3],[5],[6]	$ (80)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Onyx CenterSource, Inc. Industry Software Interest Rate 12.79% Reference Rate and Spread S + 7.25% Maturity 07/07/30
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	12.79%
Reference Rate and Spread	[1],[2],[3],[6]	7.25%
Maturity	[1],[3],[6]	Jul. 07, 2030
Par/Shares	[1],[3],[4],[6]	5,000,000
Cost	[1],[3],[6]	$ 4,854
Fair Value	[1],[3],[6]	$ 4,850
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Ortholite, LLC Industry Textiles, Apparel & Luxury Goods Interest Rate 11.65% Reference Rate and Spread S + 6.25% Maturity 09/29/27
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	11.65%
Reference Rate and Spread	[1],[2],[3]	6.25%
Maturity	[1],[3]	Sep. 29, 2027
Par/Shares	[1],[3],[4]	2,941,000
Cost	[1],[3]	$ 2,911
Fair Value	[1],[3]	$ 2,911
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 09/03/30
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	11.64%
Reference Rate and Spread	[1],[2],[3]	6.25%
Maturity	[1],[3]	Sep. 03, 2030
Par/Shares	[1],[3],[4]	5,815,000
Cost	[1],[3]	$ 5,656
Fair Value	[1],[3]	$ 5,655
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.66% Reference Rate and Spread S + 6.25% Maturity 08/31/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[5]	11.66%
Reference Rate and Spread	[1],[2],[3],[5]	6.25%
Maturity	[1],[3],[5]	Aug. 31, 2028
Par/Shares	[1],[3],[4],[5]	471,000
Cost	[1],[3],[5]	$ 256
Fair Value	[1],[3],[5]	$ 256
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Singlewire Software, LLC Industry Software Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 05/10/29
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	11.64%
Reference Rate and Spread	[1],[2],[3],[6]	6.25%
Maturity	[1],[3],[6]	May 10, 2029
Par/Shares	[1],[3],[4],[6]	9,685,000
Cost	[1],[3],[6]	$ 9,409
Fair Value	[1],[3],[6]	$ 9,443
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Singlewire Software, LLC Industry Software Reference Rate and Spread S + 6.25% Maturity 05/10/29
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5],[6]	6.25%
Maturity	[1],[3],[5],[6]	May 10, 2029
Par/Shares	[1],[3],[4],[5],[6]	1,438,000
Cost	[1],[3],[5],[6]	$ (40)
Fair Value	[1],[3],[5],[6]	$ (36)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.30% Reference Rate and Spread S + 6.75% Maturity 07/25/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	12.30%
Reference Rate and Spread	[1],[2],[3],[6]	6.75%
Maturity	[1],[3],[6]	Jul. 25, 2028
Par/Shares	[1],[3],[4],[6]	8,602,000
Cost	[1],[3],[6]	$ 8,375
Fair Value	[1],[3],[6]	$ 8,387
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% VASA Fitness Buyer, Inc. Industry Consumer Retail Interest Rate 13.31% Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	13.31%
Reference Rate and Spread	[1],[2],[3]	7.50%
Reference Rate and Spread (+), PIK	[1],[2],[3]	0.38%
Maturity	[1],[3]	Aug. 14, 2028
Par/Shares	[1],[3],[4]	8,430,000
Cost	[1],[3]	$ 8,140
Fair Value	[1],[3]	$ 8,135
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	7.50%
Reference Rate and Spread (+), PIK	[1],[2],[3],[5]	0.38%
Maturity	[1],[3],[5]	Aug. 14, 2028
Par/Shares	[1],[3],[4],[5]	241,000
Cost	[1],[3],[5]	$ 8
Fair Value	[1],[3],[5]	$ (8)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 One
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	7.50%
Reference Rate and Spread (+), PIK	[1],[2],[3],[5]	0.38%
Maturity	[1],[3],[5]	Aug. 14, 2028
Par/Shares	[1],[3],[4],[5]	1,445,000
Cost	[1],[3],[5]	$ 25
Fair Value	[1],[3],[5]	$ (25)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% DFS Holding Company, Inc. Industry Distributors Reference Rate and Spread S + 7.00% Maturity 01/31/29
Schedule of Investments [Line Items]
Reference Rate and Spread	[7],[8],[9]			7%
Maturity	[8],[9]			Jan. 31, 2029
Par/Shares	[8],[9],[10]			6,201
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% DFS Holding Company, Inc. Industry Distributors Reference Rate and Spread S + 7.00% Maturity 01/31/29 One
Schedule of Investments [Line Items]
Reference Rate and Spread	[7],[8],[9]			7%
Maturity	[8],[9]			Jan. 31, 2029
Par/Shares	[8],[9],[10]			1,292
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% DFS Holding Company, Inc. Industry Distributors Reference Rate and Spread S + 7.00% Maturity 01/31/29 Two
Schedule of Investments [Line Items]
Reference Rate and Spread	[7],[8],[9]			7%
Maturity	[8],[9]			Jan. 31, 2029
Par/Shares	[8],[9],[10]			904
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Onyx CenterSource, Inc. Industry Software Interest Rate 12.48% Reference Rate and Spread S + 7.75% Maturity 12/06/27
Schedule of Investments [Line Items]
Interest Rate	[7],[8]			12.48%
Reference Rate and Spread	[7],[8]			7.75%
Maturity	[8]			Dec. 06, 2027
Par/Shares	[8],[10]			9,267
Cost	[8]			$ 8,991
Fair Value				$ 8,987
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Onyx CenterSource, Inc. Industry Software Reference Rate and Spread S + 7.75% Maturity 12/06/27
Schedule of Investments [Line Items]
Reference Rate and Spread	[7],[8],[9]			7.75%
Maturity	[8],[9]			Dec. 06, 2027
Par/Shares	[8],[9],[10]			733
Cost	[8],[9]			$ 22
Fair Value	[8],[9]			$ (22)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 10.92% Reference Rate and Spread S + 6.50% Maturity 07/25/28
Schedule of Investments [Line Items]
Interest Rate	[7],[8]			10.92%
Reference Rate and Spread	[7],[8]			6.50%
Maturity	[8]			Jul. 25, 2028
Par/Shares	[8],[10]			8,667
Cost	[8]			$ 8,411
Fair Value	[8]			$ 8,407
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Spotless Brands, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 07/25/28
Schedule of Investments [Line Items]
Reference Rate and Spread	[7],[8],[9]			6.50%
Maturity	[8],[9]			Jul. 25, 2028
Par/Shares	[10]			1,333
Cost	[8],[9]			$ 20
Fair Value	[8],[9]			(20)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Onyx CenterSource, Inc. Industry Software Interest Rate 12.79% Reference Rate and Spread S + 7.25% Maturity 12/06/27
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	12.79%
Reference Rate and Spread	[1],[2],[3],[6]	7.25%
Maturity	[1],[3],[6]	Dec. 06, 2027
Par/Shares	[1],[3],[4],[6]	9,220,000
Cost	[1],[3],[6]	$ 8,983
Fair Value	[1],[3],[6]	$ 8,944
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Onyx CenterSource, Inc. Industry Software Reference Rate and Spread S + 7.25% Maturity 12/06/27
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5],[6]	7.25%
Maturity	[1],[3],[5],[6]	Dec. 06, 2027
Par/Shares	[1],[3],[4],[5],[6]	733,000
Cost	[1],[3],[5],[6]	$ (19)
Fair Value	[1],[3],[5],[6]	$ (22)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Rubrik, Inc. Software Interest Rate 12.37% Reference Rate and Spread S + 7% Maturity 08/17/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[5]	12.37%
Reference Rate and Spread	[1],[2],[3],[5]	7%
Maturity	[1],[3],[5]	Aug. 17, 2028
Par/Shares	[1],[3],[4],[5]	1,226,000
Cost	[1],[3],[5]	$ 112
Fair Value	[1],[3],[5]	$ 112
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Rubrik, Inc. Software Interest Rate 12.53% Reference Rate and Spread S + 7% Maturity 08/17/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	12.53%
Reference Rate and Spread	[1],[2],[3]	7%
Maturity	[1],[3]	Aug. 17, 2028
Par/Shares	[1],[3],[4]	8,774,000
Cost	[1],[3]	$ 8,688
Fair Value	[1],[3]	$ 8,686
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.04% Reference Rate and Spread S + 6.50% Maturity 07/25/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6]	12.04%
Reference Rate and Spread	[1],[2],[3],[6]	6.50%
Maturity	[1],[3],[6]	Jul. 25, 2028
Par/Shares	[1],[3],[4],[6]	1,333,000
Cost	[1],[3],[6]	$ 1,297
Fair Value	[1],[3],[6]	$ 1,300
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.87% Reference Rate and Spread S + 6.50% Maturity 08/01/29
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[5]	11.87%
Reference Rate and Spread	[1],[2],[3],[5]	6.50%
Maturity	[1],[3],[5]	Aug. 01, 2029
Par/Shares	[1],[3],[4],[5]	553,000
Cost	[1],[3],[5]	$ 152
Fair Value	[1],[3],[5]	$ 152
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.92% Reference Rate and Spread S + 6.50% Maturity 08/01/29
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	11.92%
Reference Rate and Spread	[1],[2],[3]	6.50%
Maturity	[1],[3]	Aug. 01, 2029
Par/Shares	[1],[3],[4]	5,531,000
Cost	[1],[3]	$ 5,396
Fair Value	[1],[3]	$ 5,393
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Superior Environmental Solutions Industry Commercial Services & Supplies Reference Rate and Spread S + 6.50% Maturity 08/01/29
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	6.50%
Maturity	[1],[3],[5]	Aug. 01, 2029
Par/Shares	[1],[3],[4],[5]	830,000
Cost	[1],[3],[5]	$ (10)
Fair Value	[1],[3],[5]	$ (10)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% TM Restaurant Group LLC Industry Restaurants Interest Rate 12.70% Reference Rate and Spread S + 7.25% Maturity 07/26/28
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3]	12.70%
Reference Rate and Spread	[1],[2],[3]	7.25%
Maturity	[1],[3]	Jul. 26, 2028
Par/Shares	[1],[3],[4]	10,714,000
Cost	[1],[3]	$ 10,440
Fair Value	[1],[3]	$ 10,393
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% TM Restaurant Group LLC Industry Restaurants Reference Rate and Spread S + 7.25% Maturity 07/26/28
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	7.25%
Maturity	[1],[3],[5]	Jul. 26, 2028
Par/Shares	[1],[3],[4],[5]	1,286,000
Cost	[1],[3],[5]	$ (22)
Fair Value	[1],[3],[5]	$ (39)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% TM Restaurant Group LLC Industry Restaurants Reference Rate and Spread S + 7.25% Maturity 07/26/28 One
Schedule of Investments [Line Items]
Reference Rate and Spread	[1],[2],[3],[5]	7.25%
Maturity	[1],[3],[5]	Jul. 26, 2028
Par/Shares	[1],[3],[4],[5]	3,000,000
Cost	[1],[3],[5]	$ (43)
Fair Value	[1],[3],[5]	$ (45)
Investment, Identifier [Axis]: Investments and Investments in Affiliated Money Market Fund
Schedule of Investments [Line Items]
Investment owned, percent of net assets	[1]	96.90%
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund
Schedule of Investments [Line Items]
Cost		$ 26,273	[1]	79,725
Fair Value		$ 26,273	[1]	$ 79,725
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 19.39%
Schedule of Investments [Line Items]
Investment owned, percent of net assets	[1]	19.39%
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 19.39% Goldman Sachs Financial Square Government Fund
Schedule of Investments [Line Items]
Par/Shares	[1],[4],[11],[12]	26,273,450
Cost	[1],[11],[12]	$ 26,273
Fair Value	[1],[11],[12]	26,273
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 82.48%
Schedule of Investments [Line Items]
Investment owned, percent of net assets				82.48%
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 82.48%, Goldman Sachs Financial Square Government Fund - Institutional Shares
Schedule of Investments [Line Items]
Par/Shares	[10],[13],[14]			79,725
Cost	[13],[14]			$ 79,725
Fair Value	[13],[14]			79,725
Investment, Identifier [Axis]: Non-Controlled Affiliates
Schedule of Investments [Line Items]
Fair Value		26,273		79,725	$ 0
Investment, Identifier [Axis]: Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund
Schedule of Investments [Line Items]
Fair Value		26,273		79,725	$ 0
Investment, Identifier [Axis]: Total Investments - 100.43%
Schedule of Investments [Line Items]
Cost				97,085
Fair Value				$ 97,077
Investment owned, percent of net assets				100.43%
Investment, Identifier [Axis]: Total Investments - 77.51%
Schedule of Investments [Line Items]
Cost	[1]	104,997
Fair Value	[1]	$ 105,006
Investment owned, percent of net assets	[1]	77.51%
Investment, Identifier [Axis]: Total Investments and Investments in Affiliated Money Market Fund - 96.90%
Schedule of Investments [Line Items]
Cost	[1]	$ 131,270
Fair Value	[1]	$ 131,279
[1] (1) Percentages are based on members' capital. (2) Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR ("L"), SOFR including SOFR adjustment, if any, ("S"), SONIA ("SN"), or alternate base rate (commonly based on the U.S. Prime Rate ("P"), unless otherwise noted) at the borrower's option, which reset periodically based on the terms of the credit agreement. L and S loans are typically indexed to 12 month, 6 month, 3 month or 1 month L or S rates. As of September 30, 2023, the rate for the 1 month S was 5.31 % and 3 month S was 5.39 %. For investments with multiple reference rates or alternate base rates, the interest rate shown is the weighted average interest rate in effect at September 30, 2023. (4) Represents co-investments made with the Company's affiliates in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission. See Note 3 “Significant Agreements and Related Party Transactions”. (3) Par amount is presented for debt investments, while the number of shares or units owned is presented for equity investments. Par amount is denominated in U.S. Dollars ("$" or "USD"). (6) The fair value of the investment was determined using significant unobservable inputs. See Note 5 “Fair Value Measurement”. (5) Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 7 "Commitments and Contingencies". (+) Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR ("L"), SOFR including SOFR adjustment, if any, ("S"), SONIA ("SN"), or alternate base rate (commonly based on the U.S. Prime Rate ("P"), unless otherwise noted) at the borrower's option, which reset periodically based on the terms of the credit agreement. L and S loans are typically indexed to 12 month, 6 month, 3 month or 1 month L or S rates. As of December 31, 2022, the rate for the 3 month S was 3.62 %. For investments with multiple reference rates or alternate base rates, the interest rate shown is the weighted average interest rate in effect at December 31, 2022. (1) Represents co-investments made with the Company's affiliates in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission. See Note 3 “Significant Agreements and Related Party Transactions”. (2) Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 8 "Commitments and Contingencies". (++) Par amount is presented for debt investments, while the number of shares or units owned is presented for equity investments. Par amount is denominated in U.S. Dollars ("$"). (7) The investment is otherwise deemed to be an “affiliated person” of the Company. See Note 3 “Significant Agreements and Related Party Transactions”. (8) The annualized seven-day yield as of September 30, 2023 is 5.24 %. (3) The annualized seven-day yield as of December 31, 2022 is 4.14 %. ^^^ The investment is otherwise deemed to be an “affiliated person” of the Company. See Note 3 “Significant Agreements and Related Party Transactions”.

Consolidated Schedule of Inve_2

Consolidated Schedule of Investments (Parenthetical)	Sep. 30, 2023	Dec. 31, 2022
Investment, Identifier [Axis]: 1 Month SOFR Member
Schedule of Investments [Line Items]
Investment interest rate of percentage	5.31%
Investment, Identifier [Axis]: 3 Month SOFR Member
Schedule of Investments [Line Items]
Investment interest rate of percentage	5.39%	3.62%
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 19.39% Goldman Sachs Financial Square Government Fund
Schedule of Investments [Line Items]
Percentage of annualized seven day yield	5.24%
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 82.48%, Goldman Sachs Financial Square Government Fund - Institutional Shares
Schedule of Investments [Line Items]
Percentage of annualized seven day yield		4.14%

N-2

N-2 - $ / shares		9 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Cover [Abstract]
Entity Central Index Key		0001948368
Amendment Flag		false
Securities Act File Number		000-56488
Document Type		10-Q
Entity Registrant Name		Phillip Street Middle Market Lending Fund LLC
Entity Address, Address Line One		200 West Street
Entity Address, City or Town		New York
Entity Address, State or Province		NY
Entity Address, Postal Zip Code		10282
City Area Code		312
Local Phone Number		655-4419
Entity Emerging Growth Company		true
Entity Ex Transition Period		true
General Description of Registrant [Abstract]
Risk Factors [Table Text Block]		ITEM 1A. RISK FACTORS An investment in our securities involves a high degree of risk. Except as set forth below, there have been no material changes to the risk factors previously reported under Item 1A. “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 2, 2023. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may materially affect our business, financial condition and/or operating results. Our business and the businesses of our portfolio companies are dependent on bank relationships and recent concerns associated with the banking system may adversely impact us. The financial markets recently experienced volatility in connection with concerns that some banks, especially small and regional banks, may have significant investment-related losses that might make it difficult to fund demands to withdraw deposits and other liquidity needs. Although the federal government announced measures to assist certain banks and protect depositors, some banks had already been impacted and others may be adversely impacted, by such volatility. Our business and the businesses of our portfolio companies are dependent on bank relationships. We continue to monitor the financial health of these relationships. Any further strain on the banking system may adversely impact the business, financial condition and results of operations of us and our portfolio companies.
NAV Per Share	[1]	$ 19.74	$ 19.51
[1] The per Unit data was derived by using the weighted average Units outstanding during the applicable period.

Organization

Organization	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. ORGANIZATION Phillip Street Middle Market Lending Fund LLC (the “Company”) is a Delaware limited liability company formed on July 13, 2022. The Company has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition, the Company intends to elect to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ended December 31, 2022. The Company commenced operations on October 6, 2022. On November 2, 2022, the Company's initial investors (other than the Initial Member (as defined below)) funded the initial portion of their capital commitment to purchase units of the Company’s limited liability interest (“Units”). The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, unitranche debt, including last out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. Goldman Sachs Asset Management, L.P. (“GSAM”), a Delaware limited partnership and an affiliate of Goldman Sachs & Co. LLC (including its predecessors, “GS & Co.”), is the investment adviser (the “Investment Adviser”) of the Company. The term “Goldman Sachs” refers to The Goldman Sachs Group, Inc. (“GS Group Inc.”), together with GS & Co., GSAM and its other subsidiaries. The Company is conducting an offering pursuant to which investors will make a capital commitment (a “Commitment”) to purchase Units pursuant to a subscription agreement entered into with the Company pursuant to which the investor will agree to purchase Units for an aggregate purchase price equal to its Commitment. Each investor will be required to purchase the Company’s Units each time the Company delivers a drawdown notice at least ten business days prior to the required funding date (the “Drawdown Date”). The offering and sale of Units will be exempt from registration pursuant to Regulation D and Regulation S promulgated under the U.S. Securities Act of 1933, as amended, for offers and sales of securities that do not involve a public offering and for offers and sale of securities outside of the United States. On October 6, 2022, the Company received a capital commitment of $ 10 from an affiliate of the Investment Adviser (the “Initial Member”). The Initial Member was the sole owner of the Company’s interests until the period beginning on the first date on which investors in the Company are required to make the initial capital contribution to purchase Units, and Units are issued in respect thereof (the “Initial Drawdown Date”). On October 19, 2022, the Company began accepting subscription agreements ("Subscription Agreements") from investors acquiring Units of the Company in the Company's private offering. Under the terms of the Subscription Agreements, investors are required to make capital contributions up to the undrawn amount of their capital commitment to purchase Units each time the Company delivers a drawdown notice. On March 1, 2023, the Company’s board of directors (the “Board of Directors” or the “Board”) approved an amended and restated limited liability company agreement. The Company has formed wholly owned subsidiaries, which are structured as Delaware limited liability companies, to hold certain equity or equity-like investments in portfolio companies and corporate debt of portfolio companies .

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s functional currency is USD and these consolidated financial statements have been prepared in that currency. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to Regulation S-X. This requires the Company to make certain estimates and assumptions that may affect the amounts reported in the consolidated financial statements and accompanying notes. These consolidated financial statements reflect normal and recurring adjustments that in the opinion of the Company are necessary for the fair statement of the results for the periods presented. Actual results may differ from the estimates and assumptions included in the consolidated financial statements. Certain financial information that is included in annual consolidated financial statements, including certain financial statement disclosures, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes related thereto for the year ended December 31, 2022, included in the Company’s annual report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 2, 2023. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year, any other interim period or any future year or period. As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”). Basis of Consolidation As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the financial position and results of operations of its wholly owned subsidiaries, Phillip Street Middle Market Lending Investments LLC ("SPV") and Phillip Street Middle Market Lending Investments Holdings LLC. All significant intercompany transactions and balances have been eliminated in consolidation. Revenue Recognition The Company records its investment transactions on a trade date basis, which is the date when the Company assumes the risks for gains and losses related to that instrument. Realized gains and losses are based on the specific identification method. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Discounts and premiums to par value on investments purchased are accreted and amortized, respectively, into interest income over the life of the respective investment using the effective interest method. Loan origination fees, original issue discount ("OID") and market discounts or premiums are capitalized and amortized into interest income using the effective interest method or straight-line method, as applicable. Exit fees that are receivable upon repayment of a loan or debt security are amortized into interest income over the life of the respective investment. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income, for which the Company has earned the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2023 Accelerated amortization of upfront loan origination fees and unamortized discounts $ 2 $ 5 Fees received from portfolio companies (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) are paid to the Company, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, the Company only receives its allocable portion of such fees when invested in the same portfolio company as another Account (as defined below) managed by the Investment Adviser. Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any. Certain investments may have contractual payment in kind ("PIK") interest or dividends. PIK represents accrued interest or accumulated dividends that are added to the principal amount or shares (if equity) of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest or dividend income, as applicable. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income, respectively. Certain structuring fees, amendment fees, syndication fees and commitment fees are recorded as other income when earned. Administrative agent fees received by the Company are recorded as other income when the services are rendered over time. Non-Accrual Investments Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to the contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. The Company may make exceptions to this treatment if an investment has sufficient collateral value and is in the process of collection. As of September 30, 2023 , the Company did no t have any investments on non-accrual status. Investments The Company carries its investments in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), issued by the FASB, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is generally based on quoted market prices provided by independent price sources. In the absence of quoted market prices, investments are measured at fair value as determined by the Investment Adviser, as the valuation designee ("Valuation Designee") designated by the Board of Directors, pursuant to Rule 2a-5 under the Investment Company Act. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See Note 5 “Fair Value Measurement”. The Company generally invests in illiquid securities, including debt and equity investments, of middle-market companies. The Board of Directors has designated to the Investment Adviser day-to-day responsibilities for implementing and maintaining internal controls and procedures related to the valuation of the Company’s portfolio investments. Under valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, market quotations are generally used to assess the value of the investments for which market quotations are readily available (as defined in Rule 2a-5). The Investment Adviser obtains these market quotations from independent pricing sources. If market quotations are not readily available, the Investment Adviser prices securities at the bid prices obtained from at least two brokers or dealers, if available; otherwise, the Investment Adviser obtains prices from a principal market maker or a primary market dealer. To assess the continuing appropriateness of pricing sources and methodologies, the Investment Adviser regularly performs price verification procedures and issues challenges as necessary to independent pricing sources or brokers, and any differences are reviewed in accordance with the valuation procedures. If the Valuation Designee believes any such market quotation does not reflect the fair value of an investment, it may independently value such investment in accordance with valuation procedures for investments for which market quotations are not readily available. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, the valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, contemplate a multi-step valuation process conducted by the Investment Adviser each quarter and more frequently as needed. As the Valuation Designee, the Investment Adviser is primarily responsible for the valuation of the Company’s assets, subject to the oversight of the Board of Directors, as described below: 1. The quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the valuation of the portfolio investment; 2. The Valuation Designee also engages independent valuation firms (the “Independent Valuation Advisors”) to provide independent valuations of the investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of an investment. The Independent Valuation Advisors independently value such investments using quantitative and qualitative information. The Independent Valuation Advisors also provide analyses to support their valuation methodology and calculations. The Independent Valuation Advisors provide an opinion on a final range of values on such investments to the Valuation Designee. The Independent Valuation Advisors define fair value in accordance with ASC 820 and utilize valuation approaches including the market approach, the income approach or both. A portion of the portfolio is reviewed on a quarterly basis, and all investments in the portfolio for which market quotations are not readily available, or are readily available, but deemed not reflective of the fair value of an investment, are reviewed at least annually by an Independent Valuation Advisor; 3. The Independent Valuation Advisors’ preliminary valuations are reviewed by the Investment Adviser and the Valuation Oversight Group (“VOG”), a team that is part of the controllers group of Goldman Sachs. The Independent Valuation Advisors’ valuation ranges are compared to the Investment Adviser’s valuations to ensure the Investment Adviser’s valuations are reasonable. VOG presents the valuations to the Asset Management Private Investment Valuation and Side Pocket Working Group of the Asset Management Valuation Committee (the “Asset Management Private Investment Valuation and Side Pocket Working Group”), which is comprised of a number of representatives from different functions and areas of expertise related to GSAM’s business and controls who are independent of the investment decision making process; 4. The Asset Management Private Investment Valuation and Side Pocket Working Group reviews and preliminarily approves the fair valuations and makes fair valuation recommendations to the Asset Management Valuation Committee; 5. The Asset Management Valuation Committee reviews the valuation information provided by the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. The Asset Management Valuation Committee then assesses such valuation recommendations; and 6. Through the Asset Management Valuation Committee, the Valuation Designee, discusses the valuations, provides written reports to the Board of Directors on at least a quarterly basis, and, within the meaning of the Investment Company Act, determines the fair value of the investments in good faith, based on the inputs of the Asset Management Valuation Committee, the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. Money Market Funds Investments in money market funds are valued at net asset value (“NAV”) per share. See Note 3 “Significant Agreements and Related Party Transactions.” Cash Cash consists of deposits held at a custodian bank. As of September 30, 2023 and December 31, 2022, the Company held an aggregate cash balance of $ 32,552 and $ 104 . Income Taxes The Company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The Company reports any interest expense related to income tax matters in income tax expense, and any income tax penalties under expenses in the Consolidated Statement of Operations. The Company’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction, and based on such review, the Company has concluded that no additional provision for income tax is required in the consolidated financial statements. The Company is subject to potential examination by certain taxing authorities in various jurisdictions. The Company’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities. The Company intends to elect to be treated as a RIC commencing with its taxable year ended December 31, 2022. So long as the Company qualifies for tax treatment as a RIC, it will generally not be required to pay corporate-level U.S. federal income tax on any ordinary income or capital gains that it distributes at least annually to its unitholders (the "Unitholders") as dividends. As a result, any U.S. federal income tax liability related to income earned and distributed by the Company represents obligations of the Company’s Unitholders and will not be reflected in the consolidated financial statements of the Company. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its Unitholders for each taxable year at least 90 % of its investment company taxable income (generally, its net ordinary income plus the excess of its realized net short-term capital gains over realized net long-term capital losses, determined without regard to the dividends paid deduction). In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98 % of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2 % of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4 % nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to Unitholders. The Company will accrue excise tax on estimated undistributed taxable income as required. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate level income taxes. Income tax expense, if any, is included under the income category for which it applies in the Consolidated Statement of Operations. Distributions Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. The Company may pay distributions in excess of its taxable net investment income. This excess would be a tax-free return of capital in the period and reduce a Unitholder’s tax basis in its Units. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to Units or distributable earnings, as appropriate, in the period that the differences arise. Temporary and permanent differences are primarily attributable to differences in the tax treatment of certain loans and the tax characterization of income and non-deductible expenses. These differences are generally determined in conjunction with the preparation of the Company’s annual RIC tax return. Distributions to Unitholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board of Directors each quarter and is generally based upon the earnings estimated by the Investment Adviser. The Company may pay distributions to its Unitholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Unitholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Unitholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods. The Company has a distribution reinvestment plan that provides for reinvestment of all cash distributions declared by the Board of Directors unless a Unitholder elects to “opt out” of the plan. As a result, if the Board of Directors declares a cash distribution, then the Unitholders who have not “opted out” of the dividend reinvestment plan will have their cash distributions automatically reinvested in additional Units, rather than receiving the cash distribution. Unitholders who receive distributions in the form of additional Units will generally be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions and, for this purpose, Unitholders receiving distributions in the form of Units will generally be treated as receiving distributions equal to the amount of cash that would have been received if the Unitholder had received the distribution in cash; however, since their cash distributions will be reinvested, those Unitholders will not receive cash with which to pay any applicable taxes. Deferred Financing Costs Deferred financing costs consist of fees and expenses paid in connection with the closing of and amendments to the revolving credit facility with Ally Bank (the “Credit Facility”). These costs are amortized using the straight-line method over the term of the Credit Facility. Deferred financing costs related to the Credit Facility are presented separately as an asset on the Company’s Consolidated Statements of Financial Condition. Organization Costs Organization costs include costs relating to the formation and organization of the Company. These costs are expensed as incurred. Upon the Initial Drawdown Date, Unitholders bore such costs. Unitholders making capital commitments after the Initial Drawdown Date will bear a pro rata portion of such costs at the time of their first investment in the Company. Offering Costs Offering costs consist primarily of fees and expenses incurred in connection with the continuous offering of Units, including legal, printing and other costs, as well as costs associated with the preparation and filing of the Company’s registration statement on Form 10. Offering costs are recognized as a deferred charge and are amortized on a straight line basis over 12 months beginning on the date of commencement of operations.

Significant Agreements and Rela

Significant Agreements and Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Significant Agreements and Related Party Transactions	3. SIGNIFICANT AGREEMENTS AND RELATED PARTY TRANSACTIONS Investment Management and Advisory Agreement The Company entered into an investment management and advisory agreement effective as of October 19, 2022 (the “Investment Management Agreement”) with the Investment Adviser, pursuant to which the Investment Adviser manages the Company’s investment program and related activities. Management Fee The Company pays the Investment Adviser a management fee (the “Management Fee”), accrued and payable quarterly in arrears. The Management Fee is calculated at, (i) prior to the calendar quarter-end that the aggregate amount of capital contributions to the Company made by Unitholders equals or exceeds $ 450 million, 0.325 % (i.e., an annual rate of 1.30 %), and (ii) on and after such date 0.2375 % (i.e., an annual rate of 0.95 %), in each case, of the average NAV of the Company at the end of the then-current calendar quarter and the prior calendar quarter. For the avoidance of doubt, the Management Fee for the Company's first quarter (i.e., the period beginning on the Initial Drawdown Date and ending on the last day of the quarter in which the Initial Drawdown Date occurred) shall be equal to 0.325 % (i.e., an annual rate of 1.30 %) of the average of the Company's NAV at the end of such quarter and zero. The Management Fee for any partial quarter will be appropriately prorated. The Management Fee will be reduced by an amount equal to any fees the Investment Adviser earns for any affiliated money market funds in which the Company invests. For the three and nine months ended September 30, 2023, Management Fees amounted to $ 370 and $ 951 , and the Investment Adviser voluntarily waived $ 0 and $ 286 of its Management Fees, respectively. As of September 30, 2023, $ 370 remained payable. Incentive Fee The Company pays to the Investment Adviser a quarterly incentive fee (the “Incentive Fee”) with respect to pre-incentive fee net investment income (as defined below) as follows: (a) First, no Incentive Fee will be payable to the Investment Adviser based on pre-incentive fee net investment income in any calendar quarter in which our pre-incentive fee net investment income does not exceed a hurdle rate of 1.25 % of the Company's NAV ( 5.0 % annualized) (the “Hurdle Rate”); and (b) Thereafter, the Investment Adviser will be entitled to receive 15 % of the pre-incentive fee net investment income, if any, that exceeds 1.25 % of the Company's NAV in any calendar quarter ( 5.0 % annualized), which reflects that once the Hurdle Rate is reached, 15% of all pre-incentive fee net investment income in excess of the Hurdle Rate is paid to the Investment Adviser. The Hurdle Rate will be determined on a quarterly basis, and will be calculated by multiplying 1.25 % by the Company's NAV at the beginning of each applicable calendar quarter, adjusted for the Company’s subscriptions and distributions during the applicable calendar quarter. The Incentive Fee will be calculated and paid quarterly in arrears. The Incentive Fee is a fee owed by the Company to the Investment Adviser and is not paid out of distributions made to Unitholders. Pre-incentive fee net investment income means interest income, distribution income and any other income accrued during the calendar quarter, minus operating expenses for the quarter, including the base Management Fee, expenses payable to State Street Bank and Trust Company ("the Administrator") under the Administration Agreement (as defined below), any interest expense and distributions paid on any issued and outstanding private equity securities (the “Preferred Units”), but excluding the Incentive Fee. Pre-incentive fee net investment income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. Pre-incentive fee net investment income includes, in the case of investments with a deferred interest feature (such as debt instruments with PIK interest and zero coupon securities), accrued income that the Company has not yet received in cash. The Investment Adviser is not obligated to return to Unitholders the Incentive Fee it receives on PIK interest that is later determined to be uncollectible in cash. For the three and nine months ended September 30, 2023, the Company did no t earn any Incentive Fees. As of September 30, 2023, $ 0 remained payable. Administration and Custodian Fees The Company has entered into an administration agreement with the Administrator (the "Administration Agreement") under which the Administrator provides various accounting and administrative services to the Company. The Company pays the Administrator fees for its services as it determines to be commercially reasonable in its sole discretion. The Company also reimburses the Administrator for all reasonable expenses. To the extent that the Administrator outsources any of its functions, the Administrator pays any compensation associated with such functions. The Administrator also serves as the Company’s custodian (the “Custodian”). For the three and nine months ended September 30, 2023, the Company incurred expenses for services provided by the Administrator and the Custodian of $ 73 and $ 213 . As of September 30, 2023, $ 71 remained payable. Transfer Agent Fees State Street Bank and Trust Company serves as the Company’s transfer agent (the “Transfer Agent”), registrar and disbursing agent. For the three and nine months ended September 30, 2023, the Company incurred expenses for services provided by the Transfer Agent of $ 12 and $ 38 . As of September 30, 2023, $ 50 remained payable. Affiliates GSAM Holdings, LLC owned 500 of the Company's Units as of September 30, 2023 and December 31, 2022. The table below presents the Company’s affiliate d investments: Beginning Fair Value Balance Gross (1) Gross (2) Net Realized Net Change in Ending Dividend, For the Nine Months Ended September 30, 2023 Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund $ 79,725 $ 205,465 $ ( 258,917 ) $ — $ — $ 26,273 $ 1,730 Total Non-Controlled Affiliates $ 79,725 $ 205,465 $ ( 258,917 ) $ — $ — $ 26,273 $ 1,730 For the period from October 6, 2022 (commencement of operations) to December 31, 2022 Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund $ — $ 105,823 $ ( 26,098 ) $ — $ — $ 79,725 $ 136 Total Non-Controlled Affiliates $ — $ 105,823 $ ( 26,098 ) $ — $ — $ 79,725 $ 136 (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category. Due to Affiliates The Investment Adviser pays certain general and administrative expenses on behalf of the Company in the ordinary course of business. As of September 30, 2023 and December 31, 2022, there were $ 301 and $ 53 , respectively, included within Professional fees payable, $ 162 and $ 788 , respectively, included within Accrued deferred offering costs, $ 28 and $ 217 , respectively, included within Accrued organization costs, and $ 34 and $ 0 , respectively, included within Interest and other debt expenses payable that were paid by the Investment Adviser and its affiliates on behalf of the Company. Co-Investment Activity In certain circumstances, the Company can make negotiated co-investments pursuant to an order from the SEC permitting it to do so. On November 16, 2022, the SEC granted to the Investment Adviser, the BDCs advised by the Investment Adviser and certain other affiliated applicants exemptive relief on which the Company expects to rely to co-invest alongside certain other client accounts managed by the Investment Adviser (collectively with the Company, the “Accounts”), which may include proprietary accounts of Goldman Sachs, in a manner consistent with the Company's investment objectives and strategies, certain Board-established criteria, the conditions of such exemptive relief and other pertinent factors (the “Relief”). Additionally, if the Investment Adviser forms other funds in the future, the Company may co-invest alongside such other affiliates, subject to compliance with the Relief, applicable regulations and regulatory guidance, as well as applicable allocation procedures. As a result of the Relief, there could be significant overlap in the Company’s investment portfolio and the investment portfolios of other Accounts, including, in some cases, proprietary accounts of Goldman Sachs. The Goldman Sachs Asset Management Private Credit Team is composed of investment professionals dedicated to the Company’s investment strategy and to other funds that share a similar investment strategy with the Company. The Goldman Sachs Asset Management Private Credit Team is responsible for identifying investment opportunities, conducting research and due diligence on prospective investments, negotiating and structuring the Company’s investments and monitoring and servicing the Company’s investments. The team works together with investment professionals who are primarily focused on investment strategies in syndicated, liquid credit. Under the terms of the Relief, a “required majority” (as defined in Section 57(o) of the Investment Company Act) of the Company’s independent directors must make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the proposed transaction are reasonable and fair to the Company and the Company’s Unitholders and do not involve overreaching in respect of the Company or its Unitholders on the part of any person concerned, and (2) the transaction is consistent with the interests of the Company’s Unitholders and is consistent with the then-current investment objectives and strategies of the Company. In addition, the Company has filed an application to amend the Relief to permit the Company to participate in follow-on investments in the Company's existing portfolio companies with certain affiliates covered by the Relief if such affiliates, that are not BDCs or registered investment companies, did not have an investment in such existing portfolio company. There can be no assurance if and when the Company will receive the amended exemptive order.

Investments

Investments	9 Months Ended
	Sep. 30, 2023
Investments, All Other Investments [Abstract]
Investments	4. INVESTMENTS The Company’s investments (excluding investments in money market funds, if any) consisted of the following: September 30, 2023 December 31, 2022 Investment Type Cost Fair Value Cost Fair Value 1st Lien/Senior Secured Debt $ 95,396 $ 95,408 $ 17,360 $ 17,352 1st Lien/Last-Out Unitranche 9,601 9,598 — — Total investments $ 104,997 $ 105,006 $ 17,360 $ 17,352 The industry composition of the Company’s investments as a percentage of fair value and net assets was as follows: September 30, 2023 December 31, 2022 Industry Fair Value Net Assets Fair Value Net Assets Software 33.3 % 25.7 % 51.7 % 9.3 % Diversified Consumer Services 11.3 8.8 48.3 8.7 Restaurants 9.8 7.6 — — Consumer Retail 7.7 6.0 — — Leisure Equipment & Products 6.0 4.7 — — Wireless Telecommunication Services 5.8 4.5 — — Media 5.6 4.4 — — Commercial Services & Supplies 5.3 4.1 — — Distributors 4.8 3.7 — (1) — (1) Health Care Providers & Services 4.3 3.4 — — Telecommunications 3.3 2.6 — — Textiles, Apparel & Luxury Goods 2.8 2.1 — — Diversified Financial Services — — — — Total 100.0 % 77.6 % 100.0 % 18.0 % (1) Amount rounds to less than 0.1 %. The geographic composition of the Company’s investments at fair value was as follows: Geographic September 30, 2023 December 31, 2022 United States 100.0 % 100.0 % Total 100.0 % 100.0 %

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	5. FAIR VALUE MEASUREMENT The fair value of a financial instrument is the amount that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). The fair value hierarchy under ASC 820 prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these securities. The three levels of the fair value hierarchy are as follows: Basis of Fair Value Measurement Level 1 – Inputs to the valuation methodology are quoted prices available in active markets for identical instruments as of the reporting date. The types of financial instruments included in Level 1 include unrestricted securities, including equities and derivatives, listed in active markets. Level 2 – Inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date. The types of financial instruments in this category include less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities and certain over-the-counter derivatives where the fair value is based on observable inputs. Level 3 – Inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category include investments in privately held entities and certain over-the-counter derivatives where the fair value is based on unobservable inputs. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Note 2 “Significant Accounting Policies” should be read in conjunction with the information outlined below. The table below presents the valuation techniques and the nature of significant inputs generally used in determining the fair value of Level 2 and Level 3 Instruments. Level 2 Instruments Valuation Techniques and Significant Inputs Equity and Fixed Income The types of instruments that trade in markets that are not considered to be active but are valued based on quoted market prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency include commercial paper, most government agency obligations, most corporate debt securities, certain mortgage-backed securities, certain bank loans, less liquid publicly listed equities, certain state and municipal obligations, certain money market instruments and certain loan commitments. Valuations of Level 2 Equity and Fixed Income instruments can be verified to quoted prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Consideration is given to the nature of the quotations (e.g. indicative or firm) and the relationship of recent market activity to the prices provided from alternative pricing sources. Derivative Contracts Over-the-counter ("OTC") derivatives (both centrally cleared and bilateral) are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources with reasonable levels of price transparency. Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the availability of pricing information in the market. The Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC derivatives that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are corroborated by market evidence. Level 3 Instruments Valuation Techniques and Significant Inputs Bank Loans, Corporate Debt, and Other Debt Obligations Valuations are generally based on discounted cash flow techniques, for which the significant inputs are the amount and timing of expected future cash flows, market yields and recovery assumptions. The significant inputs are generally determined based on relative value analyses, which incorporate comparisons both to credit default swaps that reference the same underlying credit risk and to other debt instruments for the same issuer for which observable prices or broker quotes are available. Other valuation methodologies are used as appropriate including market comparables, transactions in similar instruments and recovery/liquidation analysis. Equity Recent third-party investments or pending transactions are considered to be the best evidence for any change in fair value. When these are not available, the following valuation methodologies are used, as appropriate and available: (i) Transactions in similar instruments; (ii) Discounted cash flow techniques; (iii) Third party appraisals; and (iv) Industry multiples and public comparables. Evidence includes recent or pending reorganizations (for example, merger proposals, tender offers and debt restructurings) and significant changes in financial metrics, including: (i) Current financial performance as compared to projected performance; (ii) Capitalization rates and multiples; and (iii) Market yields implied by transactions of similar or related assets. The table below presents the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of September 30, 2023 and December 31, 2022. These ranges represent the significant unobservable inputs that were used in the valuation of each type of instrument, but they do not represent a range of values for any one instrument. For example, the lowest discount rate in 1st Lien/Senior Secured Debt is appropriate for valuing that specific debt investment, but may not be appropriate for valuing any other debt investments in this asset class. Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 assets. Level 3 Instruments Fair Value (1)(2) Valuation Techniques (3) Significant Unobservable Inputs Range of Significant Unobservable Inputs (4) Weighted Average (5) As of September 30, 2023 Bank Loans, Corporate Debt, and Other Debt Obligations 1st Lien/Senior Secured Debt $ 47,497 Discounted cash flows Discount Rate 10.6 % - 12.2 % 11.4 % (1) As of September 30, 2023, included within Level 3 Assets of $ 105,006 is an amount of $ 57,509 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $ 47,497 or 45.2 % of Level 3 bank loans, corporate debt, and other debt obligations. (2) As of December 31, 2022, there were no unobservable inputs developed by the Investment Adviser for any level 3 assets. As of December 31, 2022, all level 3 assets were valued at transaction price. (3) The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques. (4) The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. (5) Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment. The following is a summary of the Company’s assets categorized within the fair value hierarchy: September 30, 2023 December 31, 2022 Assets Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 1st Lien/Senior Secured Debt $ — $ — $ 95,408 $ 95,408 $ — $ — $ 17,352 $ 17,352 1st Lien/Last-Out Unitranche — — 9,598 9,598 — — — — Investments in Affiliated Money Market Fund 26,273 — — 26,273 79,725 — — 79,725 Total $ 26,273 $ — $ 105,006 $ 131,279 $ 79,725 $ — $ 17,352 $ 97,077 The below table presents a summary of changes in fair value of Level 3 assets by investment type: Assets Beginning Purchases (1) Net Net Change in Sales and (1) Net Transfers (2) Transfers (2) Ending Balance Net Change in For the Nine Months Ended September 30, 2023 1st Lien/Senior Secured Debt $ 17,352 $ 78,057 $ — $ 19 $ ( 177 ) $ 157 $ — $ — $ 95,408 $ 19 1st Lien/Last-Out Unitranche - 9,597 — ( 2 ) — 3 — — 9,598 ( 2 ) Total assets $ 17,352 $ 87,654 $ — $ 17 $ ( 177 ) $ 160 $ — $ — $ 105,006 $ 17 (1) Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments. (2) Transfers in (out) of Level 3, if any, are due to a decrease (increase) in the quantity and reliability of broker quotes obtained by the Investment Adviser. Debt Not Carried at Fair Value The fair value of the Company’s debt, which would have been categorized as Level 3 within the fair value hierarchy as of September 30, 2023 and December 31, 2022, approximates its carrying value because the Credit Facility has variable interest based on selected short term rates.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	6. DEBT On October 6, 2022, the Initial Member approved the application of the reduced asset coverage requirements in Section 61(a)(2) of the Investment Company Act to the Company and such election became effective the following day. As a result of this approval, the Company is currently allowed to borrow amounts such that its asset coverage ratio, as defined in the Investment Company Act, is at least 150 % after such borrowing (if certain requirements are met). As of September 30, 2023, the Company’s asset coverage ratio based on the aggregate amount outstanding of senior securities was 552 %. As of December 31, 2022, the Company did not have any senior securities (as defined in the Investment Company Act) outstanding. The Company's outstanding debt was as follows: As of September 30, 2023 Aggregate Amount Carrying Credit Facility (1) $ 250,000 $ 220,000 $ 30,000 Total debt $ 250,000 $ 220,000 $ 30,000 (1) Provides, under certain circumstances, a total borrowing capacity of $ 750,000 . The weighted average interest rate of the aggregate borrowings outstanding for the nine months ended September 30, 2023 was 8.20 %. The weighted average debt of the aggregate borrowings outstanding for the nine months ended September 30, 2023 was $ 2,371 . Credit Facility SPV entered into the Credit Facility on February 10, 2023 with Ally Bank (“Ally”) as administrative agent and collateral agent. State Street Bank and Trust Company serves as collateral custodian and securities intermediary. The Company serves as collateral manager under the Credit Facility. Advances under the Credit Facility bear interest (at SPV’s election) at a per annum rate equal to either (x) Daily Simple SOFR (as defined in the Credit Facility) or (y) Term SOFR (as defined in the Credit Facility) with an Available Tenor (as defined in the Credit Facility) of either one month or three months. The applicable spread is 2.75 % per annum. SPV pays a non-usage fee of 0.50 % per annum for the first three months on the average daily unused amount of the financing commitments and thereafter between 0.50 % and 1.00 % per annum, depending on the unused amount of the financing commitments, on the average daily unused amount of the financing commitments. The Credit Facility is drawable in USD. As of September 30, 2023, the total commitments under the Credit Facility were $ 250 million. The Credit Facility also has an accordion feature, subject to the satisfaction of various conditions, which could bring total commitments under the Credit Facility to $ 750 million. Proceeds from borrowings under the Credit Facility may be used to acquire portfolio loans by SPV, fund unfunded commitments of SPV with respect to loans, make distributions to the Company or pay related expenses. All amounts outstanding under the Credit Facility must be repaid by February 9, 2028. SPV’s obligations to the lenders under the Credit Facility are secured by a first priority security interest in all of SPV’s portfolio of investments. The obligations of SPV under the Credit Facility are non-recourse to the Company, and the Company’s exposure under the Credit Facility is limited to the value of the Company’s investment in SPV. In connection with the Credit Facility, SPV and the Company have made certain customary representations and warranties and are required to comply with various covenants, reporting requirements and other customary requirements for similar facilities. The Credit Facility contains customary events of default for similar financing transactions, including if a change of control of SPV occurs or if the Company is no longer the collateral manager of SPV. Upon the occurrence and during the continuation of an event of default, Ally may declare the outstanding advances and all other obligations under the Credit Facility immediately due and payable. As of September 30, 2023, SPV and the Company were in compliance with these covenants. Costs of $ 3,604 were incurred in connection with obtaining the Credit Facility, which have been recorded as deferred financing costs on the Consolidated Statements of Assets and Liabilities and are being amortized over the life of the Credit Facility using the straight-line method. As of September 30, 2023 and December 31, 2022, outstanding deferred financing costs were $ 3,144 and $ 0 . The below table presents the summary information of the Credit Facility: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2023 Borrowing interest expense $ 124 $ 124 Facility fees 623 1,293 Amortization of financing costs 182 460 Total $ 929 $ 1,877 Weighted average interest rate 8.20 % 8.20 % Average outstanding balance* $ 5,978 $ 2,371 * Average outstanding debt balance was calculated beginning on February 10, 2023, the date on which SPV entered into the Credit Facility.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. COMMITMENTS AND CONTINGENCIES Capital Commitments The Company had aggregate capital commitments and undrawn capital commitments from investors as follows: September 30, 2023 December 31, 2022 Capital Unfunded % of Capital Capital Unfunded % of Capital Common Units $ 750,010 $ 615,000 18 % $ 750,010 $ 652,500 13 % Portfolio Company Commitments The Company may enter into investment commitments to fund investments through signed commitment letters. In many circumstances, borrower acceptance and final terms are subject to transaction-related contingencies. These are disclosed as commitments upon execution of a final agreement. As of September 30, 2023 , the Company believed that it had adequate financial resources to satisfy its unfunded commitments. The Company had the following unfunded commitments by investment types: Unfunded Commitment Balances September 30, 2023 December 31, 2022 1st Lien/Senior Secured Debt Arrow Buyer, Inc. (dba Archer Technologies) $ 679 $ — Circustrix Holdings, LLC (dba SkyZone) 1,256 — Crewline Buyer, Inc. (dba New Relic) 8,125 — DFS Holding Company, Inc. 648 8,165 Fullsteam Operations LLC 14,618 — Groundworks, LLC 402 — Highfive Dental Holdco, LLC 3,725 — Onyx CenterSource, Inc. 733 733 Recorded Books Inc. (dba RBMedia) 202 — Singlewire Software, LLC 1,438 — Spotless Brands, LLC — 1,333 Superior Environmental Solutions 1,217 — Rubrik,Inc. 1,102 — TM Restaurant Group LLC 4,286 — VASA Fitness Buyer, Inc. 1,685 — Total 1st Lien/Senior Secured Debt $ 40,116 $ 10,231 1st Lien/Last-Out Unitranche Thor FinanceCo LLC (dba Harmoni Towers) $ 3,778 $ — Towerco IV Holdings, LLC 4,057 — Total 1st Lien/Last-Out Unitranche $ 7,835 $ — Total $ 47,951 $ 10,231 Contingencies In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. Currently, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications.

Members Capital

Members Capital	9 Months Ended
	Sep. 30, 2023
Disclosure Text Block [Abstract]
Members' Capital	8. MEMBERS’ CAPITAL Capital Drawdowns The following table summarizes the total units issued and proceeds related to capital drawdowns: Unit Issue Date Units Issued Proceeds Received For the Nine Months Ended September 30, 2023 September 18, 2023 1,906,612 $ 37,500 Total capital drawdowns 1,906,612 $ 37,500 For the period from October 6, 2022 (commencement of operations) to December 31, 2022 October 6, 2022 500 $ 10.00 November 2, 2022 1,500,000 30,000 December 20, 2022 3,454,647 67,500 Total capital drawdowns 4,955,147 $ 97,510 Total capital drawdowns 6,861,759 $ 135,010 Distributions The Company has a voluntary distribution reinvestment plan (the "DRIP") that provides for the automatic reinvestment of all cash distributions declared by the Board of Directors unless a Unitholder elects to “opt out” of the plan. As a result, if the Board of Directors declares a cash distribution, then the Unitholders who have not “opted out” of the DRIP will have their cash distributions automatically reinvested by the plan administrator, as agent for the Unitholders in administering the DRIP, in additional Units of the same class of Units, rather than receiving the cash distribution. Participation in the DRIP is completely voluntary. The company will use newly issued units to implement the DRIP. The number of Units to be issued to a Unitholder is determined by dividing the total dollar amount of the distribution payable to such Unitholder, net of any applicable withholding tax, by the then-current NAV per Unit. For purposes of this calculation, the NAV per Unit may be based on the NAV per Unit calculated at the end of the most recent calendar month prior to the date of the applicable distribution, subject to adjustments for material changes and to the limitations of the Investment Company Act. The Company may terminate the DRIP upon notice in writing to each participant at least 60 days prior to any record date for the payment of any distribution by the Company. The Initial Member has opted out of the DRIP. For the three and nine months ended September 30, 2023 , the Board of Directors did not declare any distributions.

Earnings Per Unit

Earnings Per Unit	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Unit	9. EARNINGS PER UNIT The following information sets forth the computation of basic and diluted earnings per Unit: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2023 Net increase (decrease) in Members' Capital from operations $ 931 $ 1,313 Weighted average units outstanding 5,224,559 5,045,938 Basic and diluted earnings (loss) per units $ 0.18 $ 0.26 Diluted earnings (loss) per Unit equal basic earnings per Unit because there were no Unit equivalents outstanding during the periods presented.

Financial Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2023
Statement of Financial Position [Abstract]
Financial Highlights	10. FINANCIAL HIGHLIGHTS The below table presents the schedule of financial highlights of the Company: For the Nine Months Ended September 30, 2023 Per Unit Data: (1) Members' Capital, beginning of period $ 19.51 Net investment income (loss) 0.26 Net realized and unrealized gains (losses) (2) ( 0.03 ) Net increase (decrease) in Members' Capital from operations (2) $ 0.23 Total increase (decrease) in Members' Capital $ 0.23 Members' Capital, end of period $ 19.74 Units outstanding, end of period 6,861,759 Weighted average units outstanding 5,045,938 Total return based on Members' Capital (3) 1.18 % Supplemental Data/Ratio (4) : Members' Capital, end of period $ 135,473 Ratio of net expenses to average Members' Capital 6.37 % Ratio of net expenses before Management fee waiver to average Members' Capital 6.76 % Ratio of net expenses (without incentive fees and interest and other debt expenses) 3.83 % Ratio of interest and other debt expenses to average Members' Capital 2.54 % Ratio of incentive fees to average Members' Capital — % Ratio of total expenses to average Members' Capital 6.76 % Ratio of net investment income to average Members' Capital 1.76 % Portfolio turnover — % (1) The per Unit data was derived by using the weighted average Units outstanding during the applicable period. (2) The amount shown may not correspond for the period as it includes the effect of the timing of capital drawdowns. (3) Calculated as the change in members' capital per Unit during the period plus dividends declared per Unit, divided by the beginning members' capital per Unit. (4) Ratios are annualized, except for, as applicable, organization costs.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	11. SUBSEQUENT EVENTS Subsequent events after the date of the Consolidated Statements of Financial Condition have been evaluated through the date the unaudited consolidated financial statements were issued. Other than the items discussed below, the Company has concluded that there is no impact requiring adjustment or disclosure in the consolidated financial statements. On October 17, 2023, the Company delivered a capital drawdown notice to its investors relating to the issuance and sale of approximately 1.9 million common units for an aggregate offering price of approximately $ 37,500 .

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s functional currency is USD and these consolidated financial statements have been prepared in that currency. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to Regulation S-X. This requires the Company to make certain estimates and assumptions that may affect the amounts reported in the consolidated financial statements and accompanying notes. These consolidated financial statements reflect normal and recurring adjustments that in the opinion of the Company are necessary for the fair statement of the results for the periods presented. Actual results may differ from the estimates and assumptions included in the consolidated financial statements. Certain financial information that is included in annual consolidated financial statements, including certain financial statement disclosures, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes related thereto for the year ended December 31, 2022, included in the Company’s annual report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 2, 2023. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year, any other interim period or any future year or period. As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”).
Basis of Consolidation	Basis of Consolidation As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the financial position and results of operations of its wholly owned subsidiaries, Phillip Street Middle Market Lending Investments LLC ("SPV") and Phillip Street Middle Market Lending Investments Holdings LLC. All significant intercompany transactions and balances have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition The Company records its investment transactions on a trade date basis, which is the date when the Company assumes the risks for gains and losses related to that instrument. Realized gains and losses are based on the specific identification method. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Discounts and premiums to par value on investments purchased are accreted and amortized, respectively, into interest income over the life of the respective investment using the effective interest method. Loan origination fees, original issue discount ("OID") and market discounts or premiums are capitalized and amortized into interest income using the effective interest method or straight-line method, as applicable. Exit fees that are receivable upon repayment of a loan or debt security are amortized into interest income over the life of the respective investment. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income, for which the Company has earned the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2023 Accelerated amortization of upfront loan origination fees and unamortized discounts $ 2 $ 5 Fees received from portfolio companies (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) are paid to the Company, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, the Company only receives its allocable portion of such fees when invested in the same portfolio company as another Account (as defined below) managed by the Investment Adviser. Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any. Certain investments may have contractual payment in kind ("PIK") interest or dividends. PIK represents accrued interest or accumulated dividends that are added to the principal amount or shares (if equity) of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest or dividend income, as applicable. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income, respectively. Certain structuring fees, amendment fees, syndication fees and commitment fees are recorded as other income when earned. Administrative agent fees received by the Company are recorded as other income when the services are rendered over time.
Non-Accrual Investments	Non-Accrual Investments Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to the contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. The Company may make exceptions to this treatment if an investment has sufficient collateral value and is in the process of collection. As of September 30, 2023 , the Company did no t have any investments on non-accrual status.
Investments	Investments The Company carries its investments in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), issued by the FASB, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is generally based on quoted market prices provided by independent price sources. In the absence of quoted market prices, investments are measured at fair value as determined by the Investment Adviser, as the valuation designee ("Valuation Designee") designated by the Board of Directors, pursuant to Rule 2a-5 under the Investment Company Act. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See Note 5 “Fair Value Measurement”. The Company generally invests in illiquid securities, including debt and equity investments, of middle-market companies. The Board of Directors has designated to the Investment Adviser day-to-day responsibilities for implementing and maintaining internal controls and procedures related to the valuation of the Company’s portfolio investments. Under valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, market quotations are generally used to assess the value of the investments for which market quotations are readily available (as defined in Rule 2a-5). The Investment Adviser obtains these market quotations from independent pricing sources. If market quotations are not readily available, the Investment Adviser prices securities at the bid prices obtained from at least two brokers or dealers, if available; otherwise, the Investment Adviser obtains prices from a principal market maker or a primary market dealer. To assess the continuing appropriateness of pricing sources and methodologies, the Investment Adviser regularly performs price verification procedures and issues challenges as necessary to independent pricing sources or brokers, and any differences are reviewed in accordance with the valuation procedures. If the Valuation Designee believes any such market quotation does not reflect the fair value of an investment, it may independently value such investment in accordance with valuation procedures for investments for which market quotations are not readily available. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, the valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, contemplate a multi-step valuation process conducted by the Investment Adviser each quarter and more frequently as needed. As the Valuation Designee, the Investment Adviser is primarily responsible for the valuation of the Company’s assets, subject to the oversight of the Board of Directors, as described below: 1. The quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the valuation of the portfolio investment; 2. The Valuation Designee also engages independent valuation firms (the “Independent Valuation Advisors”) to provide independent valuations of the investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of an investment. The Independent Valuation Advisors independently value such investments using quantitative and qualitative information. The Independent Valuation Advisors also provide analyses to support their valuation methodology and calculations. The Independent Valuation Advisors provide an opinion on a final range of values on such investments to the Valuation Designee. The Independent Valuation Advisors define fair value in accordance with ASC 820 and utilize valuation approaches including the market approach, the income approach or both. A portion of the portfolio is reviewed on a quarterly basis, and all investments in the portfolio for which market quotations are not readily available, or are readily available, but deemed not reflective of the fair value of an investment, are reviewed at least annually by an Independent Valuation Advisor; 3. The Independent Valuation Advisors’ preliminary valuations are reviewed by the Investment Adviser and the Valuation Oversight Group (“VOG”), a team that is part of the controllers group of Goldman Sachs. The Independent Valuation Advisors’ valuation ranges are compared to the Investment Adviser’s valuations to ensure the Investment Adviser’s valuations are reasonable. VOG presents the valuations to the Asset Management Private Investment Valuation and Side Pocket Working Group of the Asset Management Valuation Committee (the “Asset Management Private Investment Valuation and Side Pocket Working Group”), which is comprised of a number of representatives from different functions and areas of expertise related to GSAM’s business and controls who are independent of the investment decision making process; 4. The Asset Management Private Investment Valuation and Side Pocket Working Group reviews and preliminarily approves the fair valuations and makes fair valuation recommendations to the Asset Management Valuation Committee; 5. The Asset Management Valuation Committee reviews the valuation information provided by the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. The Asset Management Valuation Committee then assesses such valuation recommendations; and 6. Through the Asset Management Valuation Committee, the Valuation Designee, discusses the valuations, provides written reports to the Board of Directors on at least a quarterly basis, and, within the meaning of the Investment Company Act, determines the fair value of the investments in good faith, based on the inputs of the Asset Management Valuation Committee, the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors.
Money Market Funds	Money Market Funds Investments in money market funds are valued at net asset value (“NAV”) per share. See Note 3 “Significant Agreements and Related Party Transactions.”
Cash	Cash Cash consists of deposits held at a custodian bank. As of September 30, 2023 and December 31, 2022, the Company held an aggregate cash balance of $ 32,552 and $ 104 .
Income Taxes	Income Taxes The Company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The Company reports any interest expense related to income tax matters in income tax expense, and any income tax penalties under expenses in the Consolidated Statement of Operations. The Company’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction, and based on such review, the Company has concluded that no additional provision for income tax is required in the consolidated financial statements. The Company is subject to potential examination by certain taxing authorities in various jurisdictions. The Company’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities. The Company intends to elect to be treated as a RIC commencing with its taxable year ended December 31, 2022. So long as the Company qualifies for tax treatment as a RIC, it will generally not be required to pay corporate-level U.S. federal income tax on any ordinary income or capital gains that it distributes at least annually to its unitholders (the "Unitholders") as dividends. As a result, any U.S. federal income tax liability related to income earned and distributed by the Company represents obligations of the Company’s Unitholders and will not be reflected in the consolidated financial statements of the Company. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its Unitholders for each taxable year at least 90 % of its investment company taxable income (generally, its net ordinary income plus the excess of its realized net short-term capital gains over realized net long-term capital losses, determined without regard to the dividends paid deduction). In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98 % of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2 % of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4 % nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to Unitholders. The Company will accrue excise tax on estimated undistributed taxable income as required. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate level income taxes. Income tax expense, if any, is included under the income category for which it applies in the Consolidated Statement of Operations.
Distributions	Distributions Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. The Company may pay distributions in excess of its taxable net investment income. This excess would be a tax-free return of capital in the period and reduce a Unitholder’s tax basis in its Units. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to Units or distributable earnings, as appropriate, in the period that the differences arise. Temporary and permanent differences are primarily attributable to differences in the tax treatment of certain loans and the tax characterization of income and non-deductible expenses. These differences are generally determined in conjunction with the preparation of the Company’s annual RIC tax return. Distributions to Unitholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board of Directors each quarter and is generally based upon the earnings estimated by the Investment Adviser. The Company may pay distributions to its Unitholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its Unitholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and, depending upon the level of the Company’s taxable income earned in a year, the Company may choose to carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to Unitholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods. The Company has a distribution reinvestment plan that provides for reinvestment of all cash distributions declared by the Board of Directors unless a Unitholder elects to “opt out” of the plan. As a result, if the Board of Directors declares a cash distribution, then the Unitholders who have not “opted out” of the dividend reinvestment plan will have their cash distributions automatically reinvested in additional Units, rather than receiving the cash distribution. Unitholders who receive distributions in the form of additional Units will generally be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions and, for this purpose, Unitholders receiving distributions in the form of Units will generally be treated as receiving distributions equal to the amount of cash that would have been received if the Unitholder had received the distribution in cash; however, since their cash distributions will be reinvested, those Unitholders will not receive cash with which to pay any applicable taxes.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs consist of fees and expenses paid in connection with the closing of and amendments to the revolving credit facility with Ally Bank (the “Credit Facility”). These costs are amortized using the straight-line method over the term of the Credit Facility. Deferred financing costs related to the Credit Facility are presented separately as an asset on the Company’s Consolidated Statements of Financial Condition.
Organization Costs	Organization Costs Organization costs include costs relating to the formation and organization of the Company. These costs are expensed as incurred. Upon the Initial Drawdown Date, Unitholders bore such costs. Unitholders making capital commitments after the Initial Drawdown Date will bear a pro rata portion of such costs at the time of their first investment in the Company.
Offering Costs	Offering Costs Offering costs consist primarily of fees and expenses incurred in connection with the continuous offering of Units, including legal, printing and other costs, as well as costs associated with the preparation and filing of the Company’s registration statement on Form 10. Offering costs are recognized as a deferred charge and are amortized on a straight line basis over 12 months beginning on the date of commencement of operations.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Interest Income	Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income, for which the Company has earned the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2023 Accelerated amortization of upfront loan origination fees and unamortized discounts $ 2 $ 5

Significant Agreements and Re_2

Significant Agreements and Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Schedule of Affiliated Investments	The table below presents the Company’s affiliate d investments: Beginning Fair Value Balance Gross (1) Gross (2) Net Realized Net Change in Ending Dividend, For the Nine Months Ended September 30, 2023 Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund $ 79,725 $ 205,465 $ ( 258,917 ) $ — $ — $ 26,273 $ 1,730 Total Non-Controlled Affiliates $ 79,725 $ 205,465 $ ( 258,917 ) $ — $ — $ 26,273 $ 1,730 For the period from October 6, 2022 (commencement of operations) to December 31, 2022 Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund $ — $ 105,823 $ ( 26,098 ) $ — $ — $ 79,725 $ 136 Total Non-Controlled Affiliates $ — $ 105,823 $ ( 26,098 ) $ — $ — $ 79,725 $ 136 (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, All Other Investments [Abstract]
Schedule of Investments Excluding Investments in Money Market Funds	The Company’s investments (excluding investments in money market funds, if any) consisted of the following: September 30, 2023 December 31, 2022 Investment Type Cost Fair Value Cost Fair Value 1st Lien/Senior Secured Debt $ 95,396 $ 95,408 $ 17,360 $ 17,352 1st Lien/Last-Out Unitranche 9,601 9,598 — — Total investments $ 104,997 $ 105,006 $ 17,360 $ 17,352
Schedule of Investments at Fair Value and Net Assets	The industry composition of the Company’s investments as a percentage of fair value and net assets was as follows: September 30, 2023 December 31, 2022 Industry Fair Value Net Assets Fair Value Net Assets Software 33.3 % 25.7 % 51.7 % 9.3 % Diversified Consumer Services 11.3 8.8 48.3 8.7 Restaurants 9.8 7.6 — — Consumer Retail 7.7 6.0 — — Leisure Equipment & Products 6.0 4.7 — — Wireless Telecommunication Services 5.8 4.5 — — Media 5.6 4.4 — — Commercial Services & Supplies 5.3 4.1 — — Distributors 4.8 3.7 — (1) — (1) Health Care Providers & Services 4.3 3.4 — — Telecommunications 3.3 2.6 — — Textiles, Apparel & Luxury Goods 2.8 2.1 — — Diversified Financial Services — — — — Total 100.0 % 77.6 % 100.0 % 18.0 % (1) Amount rounds to less than 0.1 %.
Schedule of Geographic Composition of Investments at Fair Value	The geographic composition of the Company’s investments at fair value was as follows: Geographic September 30, 2023 December 31, 2022 United States 100.0 % 100.0 % Total 100.0 % 100.0 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets	Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 assets. Level 3 Instruments Fair Value (1)(2) Valuation Techniques (3) Significant Unobservable Inputs Range of Significant Unobservable Inputs (4) Weighted Average (5) As of September 30, 2023 Bank Loans, Corporate Debt, and Other Debt Obligations 1st Lien/Senior Secured Debt $ 47,497 Discounted cash flows Discount Rate 10.6 % - 12.2 % 11.4 % (1) As of September 30, 2023, included within Level 3 Assets of $ 105,006 is an amount of $ 57,509 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $ 47,497 or 45.2 % of Level 3 bank loans, corporate debt, and other debt obligations. (2) As of December 31, 2022, there were no unobservable inputs developed by the Investment Adviser for any level 3 assets. As of December 31, 2022, all level 3 assets were valued at transaction price. (3) The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques. (4) The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. (5) Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment.
Summary of Assets Categorized Within Fair Value Hierarchy	The following is a summary of the Company’s assets categorized within the fair value hierarchy: September 30, 2023 December 31, 2022 Assets Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 1st Lien/Senior Secured Debt $ — $ — $ 95,408 $ 95,408 $ — $ — $ 17,352 $ 17,352 1st Lien/Last-Out Unitranche — — 9,598 9,598 — — — — Investments in Affiliated Money Market Fund 26,273 — — 26,273 79,725 — — 79,725 Total $ 26,273 $ — $ 105,006 $ 131,279 $ 79,725 $ — $ 17,352 $ 97,077
Summary of Changes in Fair Value of Level 3 Assets By Investment Type	The below table presents a summary of changes in fair value of Level 3 assets by investment type: Assets Beginning Purchases (1) Net Net Change in Sales and (1) Net Transfers (2) Transfers (2) Ending Balance Net Change in For the Nine Months Ended September 30, 2023 1st Lien/Senior Secured Debt $ 17,352 $ 78,057 $ — $ 19 $ ( 177 ) $ 157 $ — $ — $ 95,408 $ 19 1st Lien/Last-Out Unitranche - 9,597 — ( 2 ) — 3 — — 9,598 ( 2 ) Total assets $ 17,352 $ 87,654 $ — $ 17 $ ( 177 ) $ 160 $ — $ — $ 105,006 $ 17 (1) Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments. (2) Transfers in (out) of Level 3, if any, are due to a decrease (increase) in the quantity and reliability of broker quotes obtained by the Investment Adviser.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The Company's outstanding debt was as follows: As of September 30, 2023 Aggregate Amount Carrying Credit Facility (1) $ 250,000 $ 220,000 $ 30,000 Total debt $ 250,000 $ 220,000 $ 30,000 (1) Provides, under certain circumstances, a total borrowing capacity of $ 750,000 .
Schedule of Credit Facility	The below table presents the summary information of the Credit Facility: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2023 Borrowing interest expense $ 124 $ 124 Facility fees 623 1,293 Amortization of financing costs 182 460 Total $ 929 $ 1,877 Weighted average interest rate 8.20 % 8.20 % Average outstanding balance* $ 5,978 $ 2,371 * Average outstanding debt balance was calculated beginning on February 10, 2023, the date on which SPV entered into the Credit Facility.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Aggregate Capital Commitments and Undrawn Capital Commitments from Investors	Capital Commitments The Company had aggregate capital commitments and undrawn capital commitments from investors as follows: September 30, 2023 December 31, 2022 Capital Unfunded % of Capital Capital Unfunded % of Capital Common Units $ 750,010 $ 615,000 18 % $ 750,010 $ 652,500 13 %
Schedule of Unfunded Commitments by Investment Types	The Company had the following unfunded commitments by investment types: Unfunded Commitment Balances September 30, 2023 December 31, 2022 1st Lien/Senior Secured Debt Arrow Buyer, Inc. (dba Archer Technologies) $ 679 $ — Circustrix Holdings, LLC (dba SkyZone) 1,256 — Crewline Buyer, Inc. (dba New Relic) 8,125 — DFS Holding Company, Inc. 648 8,165 Fullsteam Operations LLC 14,618 — Groundworks, LLC 402 — Highfive Dental Holdco, LLC 3,725 — Onyx CenterSource, Inc. 733 733 Recorded Books Inc. (dba RBMedia) 202 — Singlewire Software, LLC 1,438 — Spotless Brands, LLC — 1,333 Superior Environmental Solutions 1,217 — Rubrik,Inc. 1,102 — TM Restaurant Group LLC 4,286 — VASA Fitness Buyer, Inc. 1,685 — Total 1st Lien/Senior Secured Debt $ 40,116 $ 10,231 1st Lien/Last-Out Unitranche Thor FinanceCo LLC (dba Harmoni Towers) $ 3,778 $ — Towerco IV Holdings, LLC 4,057 — Total 1st Lien/Last-Out Unitranche $ 7,835 $ — Total $ 47,951 $ 10,231

Members' Capital (Tables)

Members' Capital (Tables)	9 Months Ended
	Sep. 30, 2023
Table Text Block [Abstract]
Summary of Shares Issued and Proceeds Related to Capital Drawdowns	The following table summarizes the total units issued and proceeds related to capital drawdowns: Unit Issue Date Units Issued Proceeds Received For the Nine Months Ended September 30, 2023 September 18, 2023 1,906,612 $ 37,500 Total capital drawdowns 1,906,612 $ 37,500 For the period from October 6, 2022 (commencement of operations) to December 31, 2022 October 6, 2022 500 $ 10.00 November 2, 2022 1,500,000 30,000 December 20, 2022 3,454,647 67,500 Total capital drawdowns 4,955,147 $ 97,510 Total capital drawdowns 6,861,759 $ 135,010

Earnings Per Unit (Tables)

Earnings Per Unit (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Unit	The following information sets forth the computation of basic and diluted earnings per Unit: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2023 Net increase (decrease) in Members' Capital from operations $ 931 $ 1,313 Weighted average units outstanding 5,224,559 5,045,938 Basic and diluted earnings (loss) per units $ 0.18 $ 0.26

Financial Highlights (Tables)

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2023
Statement of Financial Position [Abstract]
Schedule of Financial Highlights of the Company	The below table presents the schedule of financial highlights of the Company: For the Nine Months Ended September 30, 2023 Per Unit Data: (1) Members' Capital, beginning of period $ 19.51 Net investment income (loss) 0.26 Net realized and unrealized gains (losses) (2) ( 0.03 ) Net increase (decrease) in Members' Capital from operations (2) $ 0.23 Total increase (decrease) in Members' Capital $ 0.23 Members' Capital, end of period $ 19.74 Units outstanding, end of period 6,861,759 Weighted average units outstanding 5,045,938 Total return based on Members' Capital (3) 1.18 % Supplemental Data/Ratio (4) : Members' Capital, end of period $ 135,473 Ratio of net expenses to average Members' Capital 6.37 % Ratio of net expenses before Management fee waiver to average Members' Capital 6.76 % Ratio of net expenses (without incentive fees and interest and other debt expenses) 3.83 % Ratio of interest and other debt expenses to average Members' Capital 2.54 % Ratio of incentive fees to average Members' Capital — % Ratio of total expenses to average Members' Capital 6.76 % Ratio of net investment income to average Members' Capital 1.76 % Portfolio turnover — % (1) The per Unit data was derived by using the weighted average Units outstanding during the applicable period. (2) The amount shown may not correspond for the period as it includes the effect of the timing of capital drawdowns. (3) Calculated as the change in members' capital per Unit during the period plus dividends declared per Unit, divided by the beginning members' capital per Unit. (4) Ratios are annualized, except for, as applicable, organization costs.

Organization - Additional Infor

Organization - Additional Information (Details) $ in Thousands	Oct. 06, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Capital commitment	$ 10

Significant Accounting Polici_4

Significant Accounting Policies - Schedule of Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Accounting Policies [Abstract]
Accelerated amortization of upfront loan origination fees and unamortized discounts	$ 2	$ 5

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Percentage of non-accrual investment at amortized cost	0%
Cash	$ 32,552	$ 104
Percentage of investment company taxable income distributed to unitholders	90%
Percentage of net ordinary income distributed annually	98%
Percentage of capital gains in excess of capital losses distributed annually	98.20%
Percentage of nondeductible federal excise tax on income	4%

Significant Agreements and Re_3

Significant Agreements and Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Management fees	$ 370,000	$ 951,000
Management fees waived	0	286,000
Management fees payable	370,000	370,000	$ 97,000
Incentive fee payable	0	$ 0
Percentage of pre-incentive fee if that exceeds hurdle amount		1.25%
Percentage of hurdle NAV annualized.		5%
Percentage of the pre-incentive fee net investment income		15%
Hurdle rate for incentive fee purpose		1.25%
Incentive fees		$ 0
Incurred expenses for services provided by administrator and custodian fees	73,000	213,000
Administration and custodian fees payable	71,000	71,000
Incurred expenses for services provided by transfer agent	12,000	38,000
Transfer agent fees payable	$ 50,000	$ 50,000
Share units owned by affliates	500	500
Accrued Expenses and Other Liabilities
Related Party Transaction [Line Items]
Due to affiliates	$ 301,000	$ 301,000	53,000
Accrued deferred offering cost
Related Party Transaction [Line Items]
Due to affiliates	162,000	162,000	788,000
Accrued organization cost
Related Party Transaction [Line Items]
Due to affiliates	28,000	28,000	217,000
Interest and Other Debt Expense Payable
Related Party Transaction [Line Items]
Due to affiliates	34,000	34,000	$ 0
First incentive Fee
Related Party Transaction [Line Items]
Incentive fee payable	$ 0	$ 0
Percentage of pre-incentive fee if that exceeds hurdle amount		1.25%
Percentage of hurdle NAV annualized.		5%
Prior to Calendar Quarter End
Related Party Transaction [Line Items]
Annual Management Fee Percentage		1.30%
Proceeds from Partnership Contribution		$ 450,000,000
Management Fee Percentage Per Quarter		0.325%
On and After the prior Calendar Quarter
Related Party Transaction [Line Items]
Annual Management Fee Percentage		0.95%
Management Fee Percentage Per Quarter		0.2375%
Average End of Such Quarter and Zero
Related Party Transaction [Line Items]
Annual Management Fee Percentage		1.30%
Management Fee Percentage Per Quarter		0.325%

Significant Agreements and Re_4

Significant Agreements and Related Party Transactions - Schedule of Affiliated Investments (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Dec. 31, 2022	Sep. 30, 2023
Schedule of Investments [Line Items]
Fair Value, Beginning Balance			$ 17,352
Fair Value, Ending Balance		$ 17,352	105,006
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1]		9,598
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche - 7.08% Thor FinanceCo LLC (dba Harmoni Towers) Wireless Telecommunication Services Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 08/24/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		6,145
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche - 7.08% Thor FinanceCo LLC (dba Harmoni Towers) Wireless Telecommunication Services Reference Rate and Spread S + 7.00% Maturity 08/24/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(47)
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche - 7.08% Towerco IV Holdings, LLC Industry Wireless Telecommunication Services Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/31/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		3,500
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt
Schedule of Investments [Line Items]
Fair Value, Beginning Balance			17,352
Fair Value, Ending Balance		17,352	95,408	[1]
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Interest Rate 11.90% Reference Rate and Spread S + 6.50% Maturity 06/28/30
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		2,883
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Reference Rate and Spread S + 6.50% Maturity 06/28/30
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		(14)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Interest Rate 12.08% Reference Rate and Spread S + 6.75% Maturity 07/18/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		6,367
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(11)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28 One
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(11)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		4,668
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29 One
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		329
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Groundworks, LLC Industry Diversified Consumer Services Interest Rate 11.81% Reference Rate and Spread S + 6.50% Maturity 03/14/30
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		2,210
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 03/14/29
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		(3)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 03/14/30
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		(6)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Interest Rate 12.45% Reference Rate and Spread S + 6.75% Maturity 06/13/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		4,657
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		(13)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28 One
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		(80)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Onyx CenterSource, Inc. Industry Software Interest Rate 12.79% Reference Rate and Spread S + 7.25% Maturity 07/07/30
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		4,850
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Ortholite, LLC Industry Textiles, Apparel & Luxury Goods Interest Rate 11.65% Reference Rate and Spread S + 6.25% Maturity 09/29/27
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		2,911
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 09/03/30
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		5,655
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.66% Reference Rate and Spread S + 6.25% Maturity 08/31/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		256
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Singlewire Software, LLC Industry Software Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 05/10/29
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		9,443
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Singlewire Software, LLC Industry Software Reference Rate and Spread S + 6.25% Maturity 05/10/29
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		(36)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.30% Reference Rate and Spread S + 6.75% Maturity 07/25/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		8,387
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% VASA Fitness Buyer, Inc. Industry Consumer Retail Interest Rate 13.31% Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		8,135
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(8)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 One
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(25)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Onyx CenterSource, Inc. Industry Software Interest Rate 12.48% Reference Rate and Spread S + 7.75% Maturity 12/06/27
Schedule of Investments [Line Items]
Fair Value, Beginning Balance			8,987
Fair Value, Ending Balance		8,987
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Onyx CenterSource, Inc. Industry Software Reference Rate and Spread S + 7.75% Maturity 12/06/27
Schedule of Investments [Line Items]
Fair Value, Beginning Balance	[5],[6]		(22)
Fair Value, Ending Balance	[5],[6]	(22)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 10.92% Reference Rate and Spread S + 6.50% Maturity 07/25/28
Schedule of Investments [Line Items]
Fair Value, Beginning Balance	[5]		8,407
Fair Value, Ending Balance	[5]	8,407
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt  - 17.95% Spotless Brands, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 07/25/28
Schedule of Investments [Line Items]
Fair Value, Beginning Balance	[5],[6]		(20)
Fair Value, Ending Balance	[5],[6]	(20)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Onyx CenterSource, Inc. Industry Software Interest Rate 12.79% Reference Rate and Spread S + 7.25% Maturity 12/06/27
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		8,944
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Onyx CenterSource, Inc. Industry Software Reference Rate and Spread S + 7.25% Maturity 12/06/27
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3],[4]		(22)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Rubrik, Inc. Software Interest Rate 12.37% Reference Rate and Spread S + 7% Maturity 08/17/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		112
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Rubrik, Inc. Software Interest Rate 12.53% Reference Rate and Spread S + 7% Maturity 08/17/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		8,686
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.04% Reference Rate and Spread S + 6.50% Maturity 07/25/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[4]		1,300
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.87% Reference Rate and Spread S + 6.50% Maturity 08/01/29
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		152
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.92% Reference Rate and Spread S + 6.50% Maturity 08/01/29
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		5,393
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% Superior Environmental Solutions Industry Commercial Services & Supplies Reference Rate and Spread S + 6.50% Maturity 08/01/29
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(10)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% TM Restaurant Group LLC Industry Restaurants Interest Rate 12.70% Reference Rate and Spread S + 7.25% Maturity 07/26/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2]		10,393
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% TM Restaurant Group LLC Industry Restaurants Reference Rate and Spread S + 7.25% Maturity 07/26/28
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(39)
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 70.43% TM Restaurant Group LLC Industry Restaurants Reference Rate and Spread S + 7.25% Maturity 07/26/28 One
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[2],[3]		(45)
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund
Schedule of Investments [Line Items]
Fair Value, Beginning Balance			79,725
Fair Value, Ending Balance		79,725	26,273	[1]
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 19.39% Goldman Sachs Financial Square Government Fund
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1],[7],[8]		26,273
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 82.48%, Goldman Sachs Financial Square Government Fund - Institutional Shares
Schedule of Investments [Line Items]
Fair Value, Beginning Balance	[9],[10]		79,725
Fair Value, Ending Balance	[9],[10]	79,725
Investment, Identifier [Axis]: Non-Controlled Affiliates
Schedule of Investments [Line Items]
Fair Value, Beginning Balance		0	79,725
Gross Additions	[11]	105,823	205,465
Gross Reductions	[12]	(26,098)	(258,917)
Net Realized Gain (Loss)		0	0
Net Change in Unrealized Appreciation (Depreciation)		0	0
Fair Value, Ending Balance		79,725	26,273
Interest Income		136	1,730
Dividend Income		136	1,730
Investment, Identifier [Axis]: Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund
Schedule of Investments [Line Items]
Fair Value, Beginning Balance		0	79,725
Gross Additions	[11]	105,823	205,465
Gross Reductions	[12]	(26,098)	(258,917)
Net Realized Gain (Loss)		0	0
Net Change in Unrealized Appreciation (Depreciation)		0	0
Fair Value, Ending Balance		79,725	26,273
Interest Income		136	1,730
Dividend Income		136	1,730
Investment, Identifier [Axis]: Total Investments - 100.43%
Schedule of Investments [Line Items]
Fair Value, Beginning Balance			97,077
Fair Value, Ending Balance		$ 97,077
Investment, Identifier [Axis]: Total Investments - 77.51%
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1]		105,006
Investment, Identifier [Axis]: Total Investments and Investments in Affiliated Money Market Fund - 96.90%
Schedule of Investments [Line Items]
Fair Value, Ending Balance	[1]		$ 131,279
[1] (1) Percentages are based on members' capital. (4) Represents co-investments made with the Company's affiliates in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission. See Note 3 “Significant Agreements and Related Party Transactions”. (6) The fair value of the investment was determined using significant unobservable inputs. See Note 5 “Fair Value Measurement”. (5) Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 7 "Commitments and Contingencies". (1) Represents co-investments made with the Company's affiliates in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission. See Note 3 “Significant Agreements and Related Party Transactions”. (2) Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 8 "Commitments and Contingencies". (7) The investment is otherwise deemed to be an “affiliated person” of the Company. See Note 3 “Significant Agreements and Related Party Transactions”. (8) The annualized seven-day yield as of September 30, 2023 is 5.24 %. (3) The annualized seven-day yield as of December 31, 2022 is 4.14 %. ^^^ The investment is otherwise deemed to be an “affiliated person” of the Company. See Note 3 “Significant Agreements and Related Party Transactions”. Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category.

Investments - Schedule of Exclu

Investments - Schedule of Excluding Investments in Money Market Funds (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Cost	$ 104,997	$ 17,360
Fair Value	105,006	17,352
1st Lien/Senior Secured Debt
Schedule of Investments [Line Items]
Cost	95,396	17,360
Fair Value	95,408	17,352
1st Lien/Last-Out Unitranche
Schedule of Investments [Line Items]
Cost	9,601	0
Fair Value	$ 9,598	$ 0

Investments - Schedule of Inves

Investments - Schedule of Investments at Fair Value and Net Assets (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Fair Value	100%	100%
Investment owned, percent of net assets	77.60%	18%
Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	100%	100%
Software
Schedule of Investments [Line Items]
Investment owned, percent of net assets	25.70%	9.30%
Software | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	33.30%	51.70%
Diversified Consumer Services
Schedule of Investments [Line Items]
Investment owned, percent of net assets	8.80%	8.70%
Diversified Consumer Services | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	11.30%	48.30%
Restaurants
Schedule of Investments [Line Items]
Investment owned, percent of net assets	7.60%	0%	[1]
Restaurants | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	9.80%	0%	[1]
Consumer Retail
Schedule of Investments [Line Items]
Investment owned, percent of net assets	6%	0%
Consumer Retail | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	7.70%	0%
Leisure Equipment & Products
Schedule of Investments [Line Items]
Investment owned, percent of net assets	4.70%	0%
Leisure Equipment & Products | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	6%	0%
Wireless Telecommunication Services
Schedule of Investments [Line Items]
Investment owned, percent of net assets	4.50%	0%
Wireless Telecommunication Services | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	5.80%	0%
Media
Schedule of Investments [Line Items]
Investment owned, percent of net assets	4.40%	0%
Media | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	5.60%	0%
Commercial Services & Supplies
Schedule of Investments [Line Items]
Investment owned, percent of net assets	4.10%	0%
Commercial Services & Supplies | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	5.30%	0%
Distributors
Schedule of Investments [Line Items]
Investment owned, percent of net assets	3.70%	0%
Distributors | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	4.80%	0%
Health Care Providers & Services
Schedule of Investments [Line Items]
Investment owned, percent of net assets	3.40%	0%
Health Care Providers & Services | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	4.30%	0%
Telecommunications
Schedule of Investments [Line Items]
Investment owned, percent of net assets	2.60%	0%
Telecommunications | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	3.30%	0%
Textiles, Apparel & Luxury Goods
Schedule of Investments [Line Items]
Investment owned, percent of net assets	2.10%	0%
Textiles, Apparel & Luxury Goods | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	2.80%	0%
Diversified Financial Services
Schedule of Investments [Line Items]
Investment owned, percent of net assets	0%	0%
Diversified Financial Services | Investments at Fair Value | Industry Concentration Risk
Schedule of Investments [Line Items]
Composition of investments, percentage	0%	0%
[1] Amount rounds to less than 0.1 %.

Investments - Schedule of Inv_2

Investments - Schedule of Investments at Fair Value and Net Assets - ( Paranthetical) (Details)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Investment owned, percent of net assets	77.60%	18%
Maximum
Schedule of Investments [Line Items]
Investment owned, percent of net assets	0.10%

Investments - Schedule of Geogr

Investments - Schedule of Geographic Composition of Investments at Fair Value (Details)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Fair Value	100%	100%
United States
Schedule of Investments [Line Items]
Fair Value	100%	100%

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Details) $ in Thousands		Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt investments, Fair Value		$ 105,006	$ 17,352
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt investments, Fair Value		105,006
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt investments, Fair Value	[1],[2]	$ 47,497
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt Investments, Range of Significant Unobservable Inputs	[3]	10.6
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt Investments, Range of Significant Unobservable Inputs	[3]	12.2
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt Investments, Range of Significant Unobservable Inputs	[4]	11.4
[1] (1) As of September 30, 2023, included within Level 3 Assets of $ 105,006 is an amount of $ 57,509 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $ 47,497 or 45.2 % of Level 3 bank loans, corporate debt, and other debt obligations. As of December 31, 2022, there were no unobservable inputs developed by the Investment Adviser for any level 3 assets. As of December 31, 2022, all level 3 assets were valued at transaction price. The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment.

Fair Value Measurement - Summ_2

Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets - ( Paranthetical) (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt investments, Fair Value	$ 105,006	$ 17,352
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt investments, Fair Value	105,006
Income Approach | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt investments, Fair Value	$ 47,497
Fair value of debt investments percentage using income approach	0.452
Investment Adviser did not Develop Unobservable Inputs | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt investments, Fair Value	$ 57,509	$ 0

Fair Value Measurement - Summ_3

Fair Value Measurement - Summary of Assets Categorized Within Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 131,279	$ 97,077
1st Lien/Senior Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	95,408	17,352
1st Lien/Last-Out Unitranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	9,598
Investments in Affiliated Money Market Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	26,273	79,725
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	26,273	79,725
Level 1 | Investments in Affiliated Money Market Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	26,273	79,725
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	105,006	17,352
Level 3 | 1st Lien/Senior Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	95,408	$ 17,352
Level 3 | 1st Lien/Last-Out Unitranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 9,598

Fair Value Measurement - Summ_4

Fair Value Measurement - Summary of Changes in Fair Value of Level 3 Assets By Investment Type (Details) - Level 3 $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning Balance	$ 17,352
Purchases	87,654	[1]
Net Change in Unrealized Appreciation (Depreciation)	17
Sales and Settlements	(177)	[1]
Net Amortization of Premium/Discount	160
Ending Balance	105,006
Net Change in Unrealized Appreciation (Depreciation) for assets still held	17
1st Lien/Senior Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning Balance	17,352
Purchases	78,057	[1]
Net Change in Unrealized Appreciation (Depreciation)	19
Sales and Settlements	(177)	[1]
Net Amortization of Premium/Discount	157
Ending Balance	95,408
Net Change in Unrealized Appreciation (Depreciation) for assets still held	19
1st Lien/Last-Out Unitranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases	9,597
Net Change in Unrealized Appreciation (Depreciation)	(2)
Net Amortization of Premium/Discount	3
Ending Balance	9,598
Net Change in Unrealized Appreciation (Depreciation) for assets still held	$ (2)
[1] Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments.

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended
		Oct. 06, 2022	Sep. 30, 2023	Sep. 30, 2023	Feb. 10, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Deferred financing costs			$ 3,144	$ 3,144		$ 0
SPV
Debt Instrument [Line Items]
Debtor in Possession Financing Fee					0.50%
Minimum | SPV
Debt Instrument [Line Items]
Debtor in Possession Financing Fee					0.50%
Maximum | SPV
Debt Instrument [Line Items]
Debtor in Possession Financing Fee					1%
Debt
Debt Instrument [Line Items]
Asset coverage ratio requirement, description		Investment Company Act, is at least 150% after such borrowing (if certain requirements are met).
Asset Coverage Ratio			552%	552%
Weighted average interest rates				8.20%
Average outstanding balance				$ 2,371
Credit Facility
Debt Instrument [Line Items]
Interest rate (as a percent)					2.75%
Maximum borrowing capacity			$ 750,000	750,000
Debt issuance costs			3,604	3,604
Deferred financing costs			3,144	3,144		$ 0
Average outstanding balance	[1]		5,978	2,371
Credit Facility | Line Of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			250,000	250,000
Credit Facility | Minimum
Debt Instrument [Line Items]
Asset Coverage Ratio		150%
Credit Facility | Debt
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 750,000	$ 750,000
[1] * Average outstanding debt balance was calculated beginning on February 10, 2023, the date on which SPV entered into the Credit Facility.

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Amount Available	$ 220,000
Aggregate Borrowing Amount Committed	250,000
Carrying Value	30,000
Credit Facility
Line of Credit Facility [Line Items]
Amount Available	220,000	[1]
Aggregate Borrowing Amount Committed	250,000	[1]
Carrying Value	$ 30,000	[1]
[1] Provides, under certain circumstances, a total borrowing capacity of $ 750,000 .

Debt - Schedule of Outstandin_2

Debt - Schedule of Outstanding Debt (Parenthetical) (Details) - Credit Facility $ in Thousands	Sep. 30, 2023 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Maximum borrowing capacity	$ 750,000
Debt
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Maximum borrowing capacity	$ 750,000

Debt - Schedule of Credit Facil

Debt - Schedule of Credit Facility (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2023	Sep. 30, 2023
Line of Credit Facility [Line Items]
Amortization of financing costs			$ 980
Total		$ 929	1,877
Credit Facility
Line of Credit Facility [Line Items]
Borrowing interest expense		124	124
Facility fees		623	1,293
Amortization of financing costs		182	460
Total		$ 929	$ 1,877
Weighted average interest rate		8.20%	8.20%
Average outstanding balance	[1]	$ 5,978	$ 2,371
[1] * Average outstanding debt balance was calculated beginning on February 10, 2023, the date on which SPV entered into the Credit Facility.

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Aggregate Capital Commitments and Undrawn Capital Commitments from Investors (Details) - Common Stock [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Capital Commitments	$ 750,010	$ 750,010
Unfunded Capital Commitments	$ 615,000	$ 652,500
Percentage of Capital Commitments Funded	18%	13%

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Unfunded Commitments by Investment Types (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Unfunded Commitment Balances	$ 47,951	$ 10,231
1st Lien/Last-Out Unitranche
Loss Contingencies [Line Items]
Unfunded Commitment Balances	7,835	0
1st Lien/Last-Out Unitranche | Thor FinanceCo LLC (dba Harmoni Towers)
Loss Contingencies [Line Items]
Unfunded Commitment Balances	3,778	0
1st Lien/Last-Out Unitranche | Towerco IV Holdings, LLC
Loss Contingencies [Line Items]
Unfunded Commitment Balances	4,057	0
1st Lien/Senior Secured Debt
Loss Contingencies [Line Items]
Unfunded Commitment Balances	40,116	10,231
1st Lien/Senior Secured Debt | Arrow Buyer, Inc. (dba Archer Technologies)
Loss Contingencies [Line Items]
Unfunded Commitment Balances	679	0
1st Lien/Senior Secured Debt | Circustrix Holdings, LLC (dba SkyZone)
Loss Contingencies [Line Items]
Unfunded Commitment Balances	1,256	0
1st Lien/Senior Secured Debt | Crewline Buyer, Inc. (dba New Relic)
Loss Contingencies [Line Items]
Unfunded Commitment Balances	8,125	0
1st Lien/Senior Secured Debt | DFS Holding Company, Inc.
Loss Contingencies [Line Items]
Unfunded Commitment Balances	648	8,165
1st Lien/Senior Secured Debt | Fullsteam Operations LLC
Loss Contingencies [Line Items]
Unfunded Commitment Balances	14,618	0
1st Lien/Senior Secured Debt | Groundworks LLC
Loss Contingencies [Line Items]
Unfunded Commitment Balances	402	0
1st Lien/Senior Secured Debt | Highfive Dental Holdco, LLC
Loss Contingencies [Line Items]
Unfunded Commitment Balances	3,725	0
1st Lien/Senior Secured Debt | Onyx CenterSource, Inc.
Loss Contingencies [Line Items]
Unfunded Commitment Balances	733	733
1st Lien/Senior Secured Debt | Recorded Books Inc. (dba RBMedia)
Loss Contingencies [Line Items]
Unfunded Commitment Balances	202	0
1st Lien/Senior Secured Debt | Singlewire Software, LLC
Loss Contingencies [Line Items]
Unfunded Commitment Balances	1,438	0
1st Lien/Senior Secured Debt | Spotless Brands LLC
Loss Contingencies [Line Items]
Unfunded Commitment Balances	0	1,333
1st Lien/Senior Secured Debt | Superior Environmental Solutions
Loss Contingencies [Line Items]
Unfunded Commitment Balances	1,217	0
1st Lien/Senior Secured Debt | Rubrik,Inc
Loss Contingencies [Line Items]
Unfunded Commitment Balances	1,102	0
1st Lien/Senior Secured Debt | TM Restaurant Group LLC
Loss Contingencies [Line Items]
Unfunded Commitment Balances	4,286	0
1st Lien/Senior Secured Debt | VASA Fitness Buyer, Inc.
Loss Contingencies [Line Items]
Unfunded Commitment Balances	$ 1,685	$ 0

Members' Capital - Summary of u

Members' Capital - Summary of units issued and proceeds related to capital drawdowns (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2023
Class of Stock [Line Items]
Units Issued	4,955,147	1,906,612	6,861,759
Proceeds Received	$ 97,510,000	$ 37,500,000	$ 135,010,000
September 18, 2023
Class of Stock [Line Items]
Units Issued		1,906,612
Proceeds Received		$ 37,500,000
October 6, 2022
Class of Stock [Line Items]
Units Issued	500
Proceeds Received	$ 10,000
November 2, 2022
Class of Stock [Line Items]
Units Issued	1,500,000
Proceeds Received	$ 30,000,000
December 20, 2022
Class of Stock [Line Items]
Units Issued	3,454,647
Proceeds Received	$ 67,500,000

Members' Capital - Additional I

Members' Capital - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement, Disclosure [Abstract]
DRIP termination informations term	60 days

Earnings Per Unit - Schedule of

Earnings Per Unit - Schedule of Basic and Diluted Earning Per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Earnings Per Share [Abstract]
Net increase (decrease) in Members' Capital from operations	$ 931	$ 1,313
Weighted average units outstanding, basic	5,224,559	5,045,938
Weighted average units outstanding, diluted	5,224,559	5,045,938
Basic earnings (loss) per units	$ 0.18	$ 0.26
Diluted earnings (loss) per units	$ 0.18	$ 0.26

Financial Highlights - Schedule

Financial Highlights - Schedule of Financial Highlights of the Company (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Investment Company, Investment Income (Loss) from Operations, Per Share [Abstract]
Members' Capital, beginning of period	$ 19.51	[1]
Net Investment income(loss)	0.26	[1]
Net realized and unrealized gains (losses)	(0.03)	[1],[2]
Net increase (decrease) in Members' Capital from operations	0.23	[1],[2]
Total increase (decrease) in Members' Capital	0.23	[1]
Members' Capital, end of period	$ 19.74	[1]
Units Outstanding, end of period | shares	6,861,759	[1]
Weighted average units outstanding | shares	5,045,938	[1]
Total return based on Members' Capital	1.18%	[1],[3]
Supplemental Data/Ratio:
Members' capital, end of period | $	$ 135,473	[4]
Ratio of net expenses to average Members' Capital	6.37%	[4]
Ratio of net expenses before Management fee waiver to average Members' Capital	6.76%	[4]
Ratio of expenses (without incentive fees and interest and other debt expenses) to average Members' Capital	3.83%	[4]
Ratio of interest and other debt expenses to average Members' Capital	2.54%	[4]
Ratio of incentive fees to average Members' Capital	0%	[4]
Ratio of total expenses to average Members' Capital	6.76%	[4]
Ratio of net investment income to average Members' Capital	1.76%	[4]
Portfolio turnover	0%	[4]
[1] The per Unit data was derived by using the weighted average Units outstanding during the applicable period. The amount shown may not correspond for the period as it includes the effect of the timing of capital drawdowns. Calculated as the change in members' capital per Unit during the period plus dividends declared per Unit, divided by the beginning members' capital per Unit. Ratios are annualized, except for, as applicable, organization costs.

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 17, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2023
Subsequent Event [Line Items]
Proceeds from issuance of common units		$ 97,510	$ 37,500	$ 135,010
Units Issued		4,955,147	1,906,612	6,861,759
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from issuance of common units	$ 37,500
Units Issued	1.9