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

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 06, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	000-56540
Entity Registrant Name	KKR Private Equity Conglomerate LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-4368033
Entity Address, Address Line One	30 Hudson Yards,
Entity Address, City	New York,
Entity Address, State	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	750-8300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001957845
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class I Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		22,707
Class U Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		126,934
Class R-D Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,583,901
Class R-I Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		44,086,054
Class R-U Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		81,318,093
Class F Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,865,972
Class G Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40
Class H Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40

Consolidated Statements of Asse

Consolidated Statements of Assets and Liabilities (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Investments at fair value (cost of $2,602,549 and $703,790, respectively)	$ 2,948,912	$ 713,610
Cash and cash equivalents	708,867	18,007
Prepaids and other assets	426	243
Dividends receivable	2,918	307
Unrealized appreciation on foreign currency forward contracts	1	103
Deferred offering costs	0	815
Due from Manager	$ 0	$ 13,451
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Manager [Member]	Manager [Member]
Total assets	$ 3,661,124	$ 746,536
Liabilities
Line of Credit	0	19,200
Accrued performance participation allocation	54,396	1,508
Accrued shareholder servicing fees and distribution fees	142,893	40,309
Directors’ fees and expenses payable	151	137
Other accrued expenses and liabilities	32,880	2,133
Unrealized depreciation on foreign currency forward contracts	303	742
Due to Manager	$ 8,547	$ 14,471
Accounts Payable, Related Party, Type [Extensible Enumeration]	Manager [Member]	Manager [Member]
Total liabilities	$ 239,170	$ 78,500
Commitments and contingencies (Note 8)
Net assets	3,421,954	668,036
Class I Shares
Liabilities
Net assets	377	1,804
Class U Shares
Liabilities
Net assets	3,398	0
Class R-D Shares
Liabilities
Net assets	225,073	0
Class R-I Shares
Liabilities
Net assets	1,145,171	115,196
Class R-U Shares
Liabilities
Net assets	2,047,627	550,983
Class F Shares
Liabilities
Net assets	306	51
Class G Shares
Liabilities
Net assets	1	1
Class H Shares
Liabilities
Net assets	$ 1	$ 1

Consolidated Statements of As_2

Consolidated Statements of Assets and Liabilities (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments at cost	$ 2,602,549	$ 703,790
Class I Shares
Common stock, shares authorized (in shares)	13,123	69,695
Common stock, shares issued (in shares)	13,123	69,695
Common stock, shares outstanding (in shares)	13,123	69,695
Class U Shares
Common stock, shares authorized (in shares)	126,934	0
Common stock, shares issued (in shares)	126,934	0
Common stock, shares outstanding (in shares)	126,934	0
Class R-D Shares
Common stock, shares authorized (in shares)	8,025,494	0
Common stock, shares issued (in shares)	8,025,494	0
Common stock, shares outstanding (in shares)	8,025,494	0
Class R-I Shares
Common stock, shares authorized (in shares)	39,965,310	4,452,158
Common stock, shares issued (in shares)	39,965,310	4,452,158
Common stock, shares outstanding (in shares)	39,965,310	4,452,158
Class R-U Shares
Common stock, shares authorized (in shares)	77,004,002	22,941,060
Common stock, shares issued (in shares)	77,004,002	22,941,060
Common stock, shares outstanding (in shares)	77,004,002	22,941,060
Class F Shares
Common stock, shares authorized (in shares)	10,399	1,967
Common stock, shares issued (in shares)	10,399	1,967
Common stock, shares outstanding (in shares)	10,399	1,967
Class G Shares
Common stock, shares authorized (in shares)	40	40
Common stock, shares issued (in shares)	40	40
Common stock, shares outstanding (in shares)	40	40
Class H Shares
Common stock, shares authorized (in shares)	40	40
Common stock, shares issued (in shares)	40	40
Common stock, shares outstanding (in shares)	40	40

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment income
Dividend income	$ 7,442	$ 1,873	$ 24,130	$ 1,873
Total investment income	7,442	1,873	24,130	1,873
Operating expenses
Performance participation allocation	31,406	1,300	52,896	1,300
Management fee expense	8,338	459	16,959	459
General and administration expenses	3,544	2,600	11,486	2,600
Deferred offering costs amortization	117	233	815	233
Directors’ fees and expenses	154	77	460	77
Interest expense	0	0	14	0
Organization costs	0	813	0	4,589
Total operating expenses	43,559	5,482	82,630	9,258
Less: Management fee and expense credits	(8,338)	0	(18,333)	0
Less: Expenses reimbursed by Manager	0	(3,269)	(3,170)	(7,045)
Add: Expenses recouped by Manager	1,303	0	1,303	0
Less: Interest expense waived by Lender	0	0	(14)	0
Net operating expenses	36,524	2,213	62,416	2,213
Net investment loss	(29,082)	(340)	(38,286)	(340)
Net realized (loss) gain on investments, foreign currency and foreign currency forward contracts
Foreign currency forward contracts	(7,627)	0	(4,485)	0
Investments	4,111	0	4,111	0
Foreign currency	314	0	260	0
Total net realized (loss)	(3,202)	0	(114)	0
Net change in unrealized appreciation (depreciation) before income taxes on:
Investments	196,106	7,743	326,635	7,743
Foreign currency translation	14,934	(1,490)	9,908	(1,490)
Foreign currency forward contracts	(791)	1,455	337	1,455
Total net change in unrealized appreciation (depreciation) before income taxes	210,249	7,708	336,880	7,708
Provision for income taxes	17,527	0	20,161	0
Net change in unrealized appreciation	192,722	7,708	316,719	7,708
Net increase in net assets resulting from operations	$ 160,438	$ 7,368	$ 278,319	$ 7,368

Consolidated Statements of Chan

Consolidated Statements of Changes in Net Assets (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 2,609,540		$ 668,036	$ 1
Consideration from the issuance of shares	685,689		2,586,346	447,402
Repurchase of shares	(684)		(1,040)	(107,863)
Early repurchase fee	34		51
Transfers in	621		5,312
Transfers out	(621)		(5,312)
Accrued shareholder servicing fees and distribution fees	(33,063)		(109,758)	(20,651)
Net investment (loss)	(29,082)		(38,286)	(340)
Net realized (loss) gain	(3,202)	$ 0	(114)	0
Net change in unrealized appreciation	192,722	7,708	316,719	7,708
Ending balance	3,421,954	326,257	3,421,954	326,257
Class I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	334		1,804	0
Consideration from the issuance of shares	25		364	1,675
Transfers out			(1,818)
Net investment (loss)	(3)		(4)
Net change in unrealized appreciation	21		31	18
Ending balance	377	1,693	377	1,693
Class U Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,825		0
Consideration from the issuance of shares	450		3,425
Accrued shareholder servicing fees and distribution fees	(40)		(243)
Net investment (loss)	(29)		(36)
Net realized (loss) gain	(4)
Net change in unrealized appreciation	196		252
Ending balance	3,398		3,398
Class R-D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	74,791		0
Consideration from the issuance of shares	143,918		217,505
Early repurchase fee	2		2
Transfers out	(177)		(328)
Accrued shareholder servicing fees and distribution fees	(3,017)		(4,518)
Net investment (loss)	(1,749)		(1,988)
Net realized (loss) gain	(207)		(124)
Net change in unrealized appreciation	11,512		14,524
Ending balance	225,073		225,073
Class R-I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	909,397		115,196	0
Consideration from the issuance of shares	183,286		933,981	36,275
Repurchase of shares			(75)
Early repurchase fee	11		17
Transfers in	621		5,312
Net investment (loss)	(9,397)		(12,640)	(31)
Net realized (loss) gain	(1,029)		(27)
Net change in unrealized appreciation	62,282		103,407	757
Ending balance	1,145,171	37,001	1,145,171	37,001
Class R-U Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,622,034		550,983	0
Consideration from the issuance of shares	357,879		1,430,843	301,588
Repurchase of shares	(684)		(965)
Early repurchase fee	21		32
Transfers out	(444)		(3,166)
Accrued shareholder servicing fees and distribution fees	(30,006)		(104,997)	(20,651)
Net investment (loss)	(17,904)		(23,619)	(309)
Net realized (loss) gain	(1,962)		37
Net change in unrealized appreciation	118,693		198,479	6,933
Ending balance	2,047,627	287,561	2,047,627	287,561
Class F Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	157		51
Consideration from the issuance of shares	131		228
Net investment (loss)	0		1
Net change in unrealized appreciation	18		26
Ending balance	306		306
Class E Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				0
Consideration from the issuance of shares				107,863
Repurchase of shares				(107,863)
Ending balance		0		0
Class G Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1		1	1
Ending balance	1	1	1	1
Class H Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1		1	0
Consideration from the issuance of shares				1
Ending balance	$ 1	$ 1	$ 1	$ 1

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net increase in net assets from operations	$ 278,319	$ 7,368
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:
Net change in unrealized appreciation on investments	(326,635)	(7,743)
Net change in unrealized (appreciation) depreciation on foreign currency translation	(9,908)	1,490
Net change in unrealized appreciation on foreign currency forward contracts	(337)	(1,455)
Realized gain on investments	(4,111)	0
Deferred offering costs amortization	815	233
Class F Shares issued as payment of directors’ fees and expenses	220	0
Class F Shares issued as payment of performance participation allocation	8	0
Acquisition of portfolio companies	(1,907,356)	0
Proceeds from sales of and repayments from interests in portfolio companies	12,708	0
Changes in operating assets and liabilities:
Increase in prepaids and other assets	(183)	(379)
Increase in deferred offering costs	0	(1,239)
Increase in accrued performance participation allocation	52,888	1,300
Decrease (increase) in due from Manager	13,451	(7,045)
Increase in dividends receivable	(2,611)	(1,002)
Increase in other accrued expenses and liabilities	30,747	1,787
Increase in directors’ fees and expenses payable	14	55
Increase in management fee payable	0	459
Increase in organization costs payable	0	4,163
Increase in offering costs payable	0	1,238
(Decrease) increase in due to Manager	(7,601)	1,642
Net cash (used in) provided by operating activities	(1,869,572)	872
Financing activities
Proceeds from issuance of shares	2,586,118	339,539
Repayment on Line of Credit	(19,200)	0
Payment of offering costs	(1,397)	0
Payments of shareholder servicing fees and distribution fees	(4,100)	0
Repurchase of shares	(989)	(107,863)
Net cash provided by financing activities	2,560,432	231,676
Net increase in cash and cash equivalents	690,860	232,548
Cash and cash equivalents, beginning of period	18,007	1
Cash and cash equivalents, end of period	708,867	232,549
Supplemental Disclosure of Non-Cash Financing Activities
Shares issued in exchange for interests in portfolio companies	0	107,863
Change in shareholder servicing fees and distribution fees payable	$ 109,758	$ 0

Condensed Consolidated Schedule

Condensed Consolidated Schedule of Investments (Unaudited) € in Thousands, ¥ in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands		Sep. 30, 2024 USD ($)		Sep. 30, 2024 EUR (€)		Sep. 30, 2024 AUD ($)		Sep. 30, 2024 CNY (¥)		Sep. 30, 2024 JPY (¥)		Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Portfolio Companies, Estimated Fair Value		$ 2,948,912										$ 713,610
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		86.20%		86.20%		86.20%		86.20%		86.20%		106.80%	106.80%
Foreign Currency Forward Contracts, Estimated Fair Value		$ (303)										$ (742)
Foreign Currency Forward Contracts, Estimated Fair Value		1										103
Total Foreign Currency Forward Contracts		$ (302)										$ (639)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%		(0.10%)	(0.10%)
Investments in Money Market Funds, Estimated Fair Value		$ 695,668										$ 18,007
Total		$ 3,644,278										$ 730,978
Total Investments, Estimated Fair Value as Percentage of Net Assets		106.50%		106.50%		106.50%		106.50%		106.50%		109.40%	109.40%
Money Market Funds
Investments in Money Market Funds, Estimated Fair Value		$ 695,668										$ 18,007
Investments in Money Market Funds, Estimated Fair Value as a Percentage of Net Assets		20.30%		20.30%		20.30%		20.30%		20.30%		2.70%	2.70%
Goldman Sachs
Notional | €				€ 97,300									€ 35,700
Foreign Currency Forward Contracts, Estimated Fair Value		$ (176)										$ (652)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%		(0.10%)	(0.10%)
Goldman Sachs
Notional						$ 11,300
Foreign Currency Forward Contracts, Estimated Fair Value		$ (60)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%
Barclays Bank PLC
Notional | €				€ 17,200									€ 32,900
Foreign Currency Forward Contracts, Estimated Fair Value		$ (31)
Foreign Currency Forward Contracts, Estimated Fair Value												$ 103
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%		0%	0%
Barclays Bank PLC
Notional | ¥								¥ 140,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (24)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%
Nomura International plc
Notional | ¥										¥ 2,470,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (7)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%
Nomura International plc
Notional						$ 1,000
Foreign Currency Forward Contracts, Estimated Fair Value		$ (5)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%
Nomura International plc
Notional | €				€ 61,400
Foreign Currency Forward Contracts, Estimated Fair Value		$ 1
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets		0%		0%		0%		0%		0%
Nomura International plc
Notional | €													€ 1,700
Foreign Currency Forward Contracts, Estimated Fair Value												$ (90)
Foreign Currency Forward Contracts, Estimated Fair Value as a Percentage of Net Assets												0%	0%
Investment, Identifier [Axis]: April SAS
Portfolio Companies, Estimated Fair Value												$ 48,508
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												7.30%	7.30%
Investment, Identifier [Axis]: BMC Software Finance Inc.
Portfolio Companies, Estimated Fair Value		$ 184,000
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		5.40%		5.40%		5.40%		5.40%		5.40%
Investment, Identifier [Axis]: CIRCOR International, Inc.
Portfolio Companies, Estimated Fair Value												$ 132,500
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												19.80%	19.80%
Investment, Identifier [Axis]: Cotiviti Holdings, Inc.
Portfolio Companies, Estimated Fair Value		$ 528,000
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		15.40%		15.40%		15.40%		15.40%		15.40%
Investment, Identifier [Axis]: Groundworks, LLC
Portfolio Companies, Estimated Fair Value												$ 34,000
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												5.10%	5.10%
Investment, Identifier [Axis]: IVI Rma Global SL
Portfolio Companies, Estimated Fair Value												$ 58,877
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												8.80%	8.80%
Investment, Identifier [Axis]: Morgan Stanley Institutional Liquidity Funds Government Portfolio
Investments in Money Market Funds, Estimated Fair Value		$ 695,668										$ 18,007
Investments in Money Market Funds, Estimated Fair Value as a Percentage of Net Assets		20.30%		20.30%		20.30%		20.30%		20.30%		2.70%	2.70%
Investment, Identifier [Axis]: Omnissa
Portfolio Companies, Estimated Fair Value		$ 384,000
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		11.20%		11.20%		11.20%		11.20%		11.20%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Communication Services
Portfolio Companies, Estimated Fair Value	[1],[2]	$ 63,409
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets	[1],[2]	1.90%		1.90%		1.90%		1.90%		1.90%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Communication Services, Americas
Portfolio Companies, Estimated Fair Value												$ 13,000
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												1.90%	1.90%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Consumer Discretionary
Portfolio Companies, Estimated Fair Value	[2],[3]	$ 359,637
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets	[2],[3]	10.50%		10.50%		10.50%		10.50%		10.50%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Consumer Staples
Portfolio Companies, Estimated Fair Value		$ 24,946
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		0.70%		0.70%		0.70%		0.70%		0.70%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Financials
Portfolio Companies, Estimated Fair Value	[2],[4]	$ 65,229
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets	[2],[4]	1.90%		1.90%		1.90%		1.90%		1.90%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Healthcare, Americas
Portfolio Companies, Estimated Fair Value		$ 412,558	[2],[5]									$ 1,770
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		12.10%	[2],[5]	12.10%	[2],[5]	12.10%	[2],[5]	12.10%	[2],[5]	12.10%	[2],[5]	0.30%	0.30%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Healthcare, EMEA
Portfolio Companies, Estimated Fair Value												$ 3,542
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												0.50%	0.50%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Industrials, Americas
Portfolio Companies, Estimated Fair Value	[6]											$ 33,660
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets	[6]											5%	5%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Information Technology
Portfolio Companies, Estimated Fair Value	[2],[7]	$ 253,438
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets	[2],[7]	7.40%		7.40%		7.40%		7.40%		7.40%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Information Technology, Americas
Portfolio Companies, Estimated Fair Value												$ 1,900
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												0.30%	0.30%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Materials
Portfolio Companies, Estimated Fair Value		$ 30,400
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		0.90%		0.90%		0.90%		0.90%		0.90%
Investment, Identifier [Axis]: Other Investments In Portfolio Companies, Materials, Americas
Portfolio Companies, Estimated Fair Value												$ 30,400
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												4.60%	4.60%
Investment, Identifier [Axis]: Other investments In Portfolio Companies, Industrials
Portfolio Companies, Estimated Fair Value	[2],[8]	$ 472,295
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets	[2],[8]	13.80%		13.80%		13.80%		13.80%		13.80%
Investment, Identifier [Axis]: PetVet Care Centers, LLC
Portfolio Companies, Estimated Fair Value												$ 127,453
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												19.10%	19.10%
Investment, Identifier [Axis]: Potter Electrical Signal Company, LLC
Portfolio Companies, Estimated Fair Value												$ 85,500
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets												12.80%	12.80%
Investment, Identifier [Axis]: USI Insurance Services LLC
Portfolio Companies, Estimated Fair Value		$ 171,000										$ 142,500
Portfolio Companies, Estimated Fair Value as a Percentage of Net Assets		5%		5%		5%		5%		5%		21.30%	21.30%
[1]51.4% of fair value shown is domiciled in Americas and 48.6% in EMEA.[2]There were no single investments included in this category that exceeded 5% of net assets.[3]77.7% of fair value shown is domiciled in Americas, 17.7% in EMEA and 4.6% in Asia Pacific.[4]87.5% of fair value shown is domiciled in EMEA and 12.5% in Americas.[5]63.1% of fair value shown is domiciled in Americas, 30.4% in EMEA and 6.5% in Asia Pacific.[6]There were no single investments included in this category that exceeded 5% of net assets.[7]84.2% of fair value shown is domiciled in Americas and 15.8% in Asia Pacific.[8]97.8% of fair value shown is domiciled in Americas and 2.2% in EMEA.

Condensed Consolidated Schedu_2

Condensed Consolidated Schedule of Investments (Unaudited) (Parenthetical) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Percentage of estimated fair value of our portfolio companies		86.20%	106.80%
Portfolio companies, cost		$ 2,602,549	$ 703,790
Investments in money market funds, cost		708,867	18,007
Investments and cash equivalents, cost		3,298,217	721,797
Portfolio companies		2,948,912	713,610
Money Market Funds
Investments in money market funds, cost		$ 695,668	$ 18,007
Americas
Percentage of estimated fair value of our portfolio companies		74.60%
Portfolio companies, cost		$ 2,257,888
Portfolio companies		$ 2,553,157
EMEA
Percentage of estimated fair value of our portfolio companies		9.10%
Portfolio companies, cost		$ 272,427
Portfolio companies		$ 312,363
Asia Pacific
Percentage of estimated fair value of our portfolio companies		2.40%
Portfolio companies, cost		$ 72,233
Portfolio companies		$ 83,391
Healthcare
Percentage of estimated fair value of our portfolio companies		27.50%	28.70%
Healthcare | Americas
Percentage of estimated fair value of our portfolio companies		63.10%
Healthcare | EMEA
Percentage of estimated fair value of our portfolio companies	[1]	30.40%
Healthcare | Asia Pacific
Percentage of estimated fair value of our portfolio companies		6.50%
Information Technology
Percentage of estimated fair value of our portfolio companies		24%	0.30%
Information Technology | Americas
Percentage of estimated fair value of our portfolio companies		84.20%
Information Technology | Asia Pacific
Percentage of estimated fair value of our portfolio companies		15.80%
Industrials
Percentage of estimated fair value of our portfolio companies		13.80%	37.60%
Industrials | Americas
Percentage of estimated fair value of our portfolio companies		97.80%
Industrials | EMEA
Percentage of estimated fair value of our portfolio companies	[1]	2.20%
Consumer Discretionary
Percentage of estimated fair value of our portfolio companies		10.50%	5.10%
Consumer Discretionary | Americas
Percentage of estimated fair value of our portfolio companies		77.70%
Consumer Discretionary | EMEA
Percentage of estimated fair value of our portfolio companies		17.70%
Consumer Discretionary | Asia Pacific
Percentage of estimated fair value of our portfolio companies		4.60%
Financials
Percentage of estimated fair value of our portfolio companies		6.90%	28.60%
Financials | Americas
Percentage of estimated fair value of our portfolio companies		12.50%
Financials | EMEA
Percentage of estimated fair value of our portfolio companies		87.50%
Communication Services
Percentage of estimated fair value of our portfolio companies		1.90%	1.90%
Communication Services | Americas
Percentage of estimated fair value of our portfolio companies		51.40%
Communication Services | EMEA
Percentage of estimated fair value of our portfolio companies		48.60%
Materials
Percentage of estimated fair value of our portfolio companies		0.90%	4.60%
Consumer Staples
Percentage of estimated fair value of our portfolio companies		0.70%
[1]The estimated fair value of our portfolio companies in the Americas, EMEA and Asia Pacific as a percentage of net assets was approximately 74.6%, 9.1% and 2.4%, respectively, as of September 30, 2024. The cost basis of portfolio companies in Americas, EMEA and Asia Pacific were $2,257,888, $272,427 and $72,233, respectively. The fair value of portfolio companies in Americas, EMEA and Asia Pacific were $2,553,157, $312,363 and $83,391, respectively.

Organization

Organization	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization KKR Private Equity Conglomerate LLC (“K-PEC” and the “Company”) was formed on December 6, 2022 as a limited liability company under the laws of the state of Delaware and the Company operates its business in a manner permitting it to be excluded from the definition of an “investment company” under the Investment Company Act of 1940, as amended. The Company is a holding company that primarily seeks to acquire, own and control portfolio companies with the objective of generating attractive risk-adjusted returns and achieving medium-to-long-term capital appreciation through joint ventures (“Joint Ventures”). The Company expects that its portfolio companies will operate principally in the following business lines: Business & Financial Services; Consumer & Retail; Healthcare; Impact; Industrials; and Technology, Media & Telecommunications. The Company commenced principal operations on August 1, 2023. K-PEC conducts a continuous private offering of its investor shares on a monthly basis: Class S Shares, Class D Shares, Class U Shares, Class I Shares, Class R-S Shares, Class R-D Shares, Class R-U Shares and Class R-I Shares (collectively, the “Investor Shares” and, collectively with the Class E Shares, Class F Shares, Class G Shares and Class H Shares, the “Shares”) in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), including under Regulation D and Regulation S, (i) to accredited investors (as defined in Regulation D under the Securities Act) and (ii) in the case of shares sold outside of the United States, to persons that are not “U.S. persons” (as defined in Regulation S under the Securities Act). Holders of Investor Shares have equal rights and privileges with each other, except that Class D Shares, Class U Shares, Class I Shares, Class R-D Shares, Class R-U Shares and Class R-I Shares do not pay a sales load or dealer-manager fees and the Company does not pay any servicing or distribution fees with respect to Class I Shares or Class R-I Shares or any distribution fees with respect to the Class D Shares or Class R-D Shares. Holders of Class E Shares, Class F Shares, Class G Shares and Class H Shares (collectively, the “KKR Shares”) have equal rights and privileges with each other and, except for the Class G Shares, no class of shares will have any rights, powers or preferences with respect to determining the number of directors constituting the entire Board of Directors the (“Board”) or the appointment, election, or removal of any directors of officers of the Company. Kohlberg Kravis Roberts & Co. L.P. (together with its subsidiaries, “KKR”), through its ownership of all of the Company’s outstanding Class G Shares, hold, directly and indirectly, all of the voting power of the Company. The KKR Shares are not subject to the Management Fee (defined herein) or the Performance Participation Allocation (defined herein), and are not subject to any servicing or distribution fees.

Summary of Significant Accounti

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

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
Investments	Investments Summarized Portfolio Company Financial Information The following table presents unaudited summarized financial information for the portfolio companies in the aggregate in which the Company has an indirect equity interest for the three and nine months ended September 30, 2024 and 2023. Amounts provided do not represent the Company’s proportionate share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 8,352,187 $ 531,782 $ 12,952,565 $ 1,429,377 Expenses 8,401,197 539,059 13,338,682 1,541,010 Loss before taxes (49,010) (7,277) (386,117) (111,633) Income tax expense 323,629 47 339,225 66 Consolidated net loss (372,639) (7,324) (725,342) (111,699) Net loss attributable to non-controlling interests — — 72 — Net loss $ (372,639) $ (7,324) $ (725,270) $ (111,699) The net loss above represents the aggregated net loss attributable to the controlling interests in each of the Company’s portfolio companies and does not represent the Company’s proportionate share of loss. Acquisition of Interest in Portfolio Company through Secondary Transaction

Fair Value Measurements - Inves

Fair Value Measurements - Investments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements - Investments	Fair Value Measurements - Investments The following tables present fair value measurements of investments, by major class, according to the fair value hierarchy: September 30, 2024 Investments Level I Level II Level III Fair Value Portfolio companies $ — $ — $ 2,948,912 $ 2,948,912 Unrealized depreciation on foreign currency forward contracts — (303) — (303) Unrealized appreciation on foreign currency forward contracts — 1 — 1 Investments in Money Market Funds 695,668 — — 695,668 Total $ 695,668 $ (302) $ 2,948,912 $ 3,644,278 December 31, 2023 Investments Level I Level II Level III Fair Value Portfolio companies $ — $ — $ 713,610 $ 713,610 Unrealized depreciation on foreign currency forward contracts — (742) — (742) Unrealized appreciation on foreign currency forward contracts — 103 — 103 Investments in Money Market Funds 18,007 — — 18,007 Total $ 18,007 $ (639) $ 713,610 $ 730,978 The following tables provide a reconciliation of the beginning and ending balances for investments that use Level III inputs for the nine months ended September 30, 2024: Nine Months Ended September 30, 2024 Investments Balance as of December 31, 2023 Purchases Sales and Proceeds from Investments Change in Gain (Loss) included in Net Assets Net change in unrealized appreciation on investments Net change in unrealized appreciation on foreign currency translation Balance as of September 30, 2024 Portfolio companies $ 713,610 $ 1,907,356 $ (12,708) $ 4,111 $ 326,635 $ 9,908 $ 2,948,912 The total change in unrealized appreciation (depreciation) included in the Consolidated Statements of Operations within net change in unrealized appreciation (depreciation) for the nine months ended September 30, 2024 attributable to Level III investments and foreign currency translation still held at September 30, 2024 was $326,635 and $9,908, respectively. The following tables present the quantitative information about Level III fair value measurements of the Company’s portfolio companies as of September 30, 2024 and December 31, 2023: Level III Assets Fair Value September 30, 2024 Valuation Methodology and Inputs Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Portfolio companies $2,948,912 Inputs to market comparables, discounted cash flow and transaction price/other Illiquidity Discount 9.3% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 42.5% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 41.9% 0.0% - 75.0% (5) Weight Ascribed to Transaction Price/Other 15.6% 0.0% - 100.0% (6) Market Comparables Enterprise Value / Forward EBITDA Multiple 12.8x 7.9x - 23.3x Increase Enterprise Value / Forward Revenues Multiple 5.2x 2.6x - 7.1x Increase Discounted Cash Flow Weighted Average Cost of Capital 11.2% 6.1% - 17.8% Decrease Enterprise Value / LTM EBITDA Exit Multiple 12.7x 8.5x - 23.0x Increase Level III Assets Fair Value December 31, 2023 Valuation Methodology and Inputs Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Portfolio companies $713,610 Inputs to market comparables, discounted cash flow and transaction price/other Illiquidity Discount 7.4% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 25.0% 0.0% - 50.0% (4) Weight Ascribed to Discounted Cash Flow 40.2% 0.0% - 75.0% (5) Weight Ascribed to Transaction Price/Other 34.8% 0.0%- 100.0% (6) Market Comparables Enterprise Value / Forward EBITDA Multiple 14.6x 7.5x - 17.8x Increase Discounted Cash Flow Weighted Average Cost of Capital 11.6% 8.5% - 18.2% Decrease Enterprise Value / LTM EBITDA Exit Multiple 14.9x 8.5x - 17.5x Increase (1) In determining the inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies, and company-specific developments including exit strategies and realization opportunities. The Manager has determined that market participants would take these inputs into account when valuing the investments. “LTM” means Last Twelve Months. (2) Inputs are weighted based on fair value of the investments included in the range. (3) Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. (4) The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price approach. (5) The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach and transaction price approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach and transaction price approach. (6) The directional change from an increase in the weight ascribed to the transaction price would increase the fair value of the Level III investments if the transaction price results in a higher valuation than the market comparables approach and discounted cash flow approach. The opposite would be true if the transaction price results in a lower valuation than the market comparables approach and discounted cash flow approach. Valuations involve subjective judgments and may not accurately reflect realizable value. The assumptions above are determined by the Manager and reviewed by the Manager’s independent valuation advisor. A change in these assumptions or factors would impact the calculation of the value of our assets. Derivative Instruments The Company enters into foreign currency forward contracts to hedge against foreign currency exchange rate risk on its non-U.S. dollar denominated securities or to facilitate settlement of foreign currency denominated Infrastructure Asset transactions. A foreign currency forward contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. These contracts are marked-to-market by recognizing the difference between the contract forward exchange rate and the forward market exchange rate on the last day of the period as unrealized appreciation or depreciation. When a foreign currency forward contract is closed, through either delivery or offset by entering into another foreign currency forward contract, the Company recognizes realized appreciation or depreciation equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was closed. Foreign currency forward contracts involve elements of market risk in excess of the amounts reflected on the Consolidated Statements of Assets and Liabilities. The Company’s primary risk related to hedging is the risk of an unfavorable change in the foreign exchange rate underlying the foreign currency forward contract.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Management Agreement On July 27, 2023, the Company entered into a management agreem ent with the Manager, which was further amended on May 30, 2024 (“Management Agreement”). Pursuant to the Management Agreement, the Manager is responsible for sourcing, evaluating and monitoring the Company’s acquisition opportunities and making recommendations to the Company’s executive committee related to the acquisition, management, financing and disposition of the Company’s assets, in accordance with the Company’s objectives, guidelines, policies and limitations, subject to oversight by the Board. Pursuant to the Management Agreement, the Manager is entitled to receive a management fee (the “Management Fee”) from the Company in an amount equal to (i) 1.25% per annum of the month-end Net Asset Value (“NAV”) attributable to Class S Shares, Class D Shares, Class U Shares and Class I Shares and (ii) 1.00% per annum of the month-end NAV for a 60-month period following August 1, 2023 (the “Initial Offering”) attributable to Class R-S Shares, Class R-D Shares, Class R-U Shares and Class R-I Shares (provided that for Class R-S Shares, Class R-U Shares and Class R-I Shares, such shares are purchased by an investor as part of an intermediary’s direct or indirect aggregate subscription for at least $100,000 in Shares and shares of any class of KKR Private Markets Equity Fund SICAV SA, a multi-compartment Luxembourg investment company with variable capital, and KKR Private Markets Equity Fund (Master) FCP, a Luxembourg mutual fund (together, with any parallel vehicles formed to invest alongside the aforementioned entities and that are direct or indirect parent companies of K-PRIME Aggregator L.P., “K-PRIME”) during the 18-month period following the Initial Offering) and 1.25% per annum of the month-end NAV attributable to Class R-S Shares, Class R-D Shares, Class R-U Shares and Class R-I Shares after the 60-month period following the Initial Offering, each before giving effect to accruals for the Management Fee, the Distribution Fee (as defined herein), the Servicing Fee (as defined herein), the Performance Participation Allocation (as defined herein), share repurchases for that month, any distributions and without taking into account any taxes (whether paid, payable, accrued or otherwise) of any intermediate entity through which the Company indirectly acquires and holds a portfolio company, as determined in the good faith judgment of the Manager. Such Management Fee is calculated based on the Company’s transactional net asset value (“Transactional Net Asset Value”), which is used to determine the price at which the Company sells and repurchases its Shares. KKR or its affiliates (and in the case of directors’ fees, KKR executives) are expected to be paid transaction fees and monitoring fees in connection with the acquisition, ownership, control and exit of portfolio companies, and KKR or its affiliates are expected to be entitled to receive “break-up” or similar fees in connection with unconsummated transactions (“Other Fees”). The Management Fee payable in any monthly period is subject to reduction, but not below zero, by an amount equal to any Other Fees allocable to Investor Shares pursuant to the terms of the Management Agreement. The Manager, in its sole discretion, may forgo reimbursement by the Company of certain expenses incurred by the Manager or its affiliates (other than the Company and its subsidiaries) on behalf of the Company in each calendar month to the extent there remains any Other Fees that are not used to offset the Management Fee. Any Other Fees used to offset such expenses will not be applied again to offset future Management Fees. For the three and nine months ended September 30, 2024, the Manager earned $8,338 and $16,959 in gross Management Fees, respectively. For both the three and nine months ended September 30, 2023, the Manager earned $459 in Management Fees. For the three and nine months ended September 30, 2024, the Company offset Management fees and certain operating expenses of $8,338 and $18,333, respectively. As of September 30, 2024 and December 31, 2023, there were unapplied credits of $24,735 and $12,403, respectively, to be carried forward that relate to Other Fees earned. As of September 30, 2024 and December 31, 2023, the Company did not owe a net Management Fee to the Manager. Pursuant to the Management Agreement, such amounts earned may be offset by the Manager against amounts due to the Company from the Manager. Performance Participation Allocation Under the limited liability company agreement of the Company (as amended, the “LLC Agreement”), for as long as the Management Agreement has not been terminated, the Class H Member (as defined in the LLC Agreement) may receive a Performance Participation Allocation from the Company. KKR is allocated a “Performance Participation Allocation” equal to 15.0% of the Total Return attributable to Investor Shares subject to a 5.0% annual Hurdle Amount and a High Water Mark, with a 100% Catch-Up (each as defined in the LLC Agreement). Such allocation will be measured and allocated or paid annually and accrued monthly (subject to pro-rating for partial periods). KKR may elect to receive the Performance Participation Allocation in cash and/or Class F Shares. Specifically, promptly following the end of each Reference Period (and at other times as described below), KKR is allocated a Performance Participation Allocation in an amount equal to: • First, if the Total Return for the applicable period exceeds the sum of (i) the Hurdle Amount for that period and (ii) the Loss Carryforward Amount (as defined in the LLC Agreement) (any such excess, “Excess Profits”), 100% of such Excess Profits until the total amount allocated to KKR equals 15.0% of the sum of (x) the Hurdle Amount for that period and (y) any amount allocated to KKR pursuant to this clause (any such amount, the “Catch-Up”); and • Second, to the extent there are remaining Excess Profits, 15.0% of such remaining Excess Profits. KKR will also be allocated a Performance Participation Allocation with respect to all Investor Shares that are repurchased in connection with repurchases of Shares in an amount calculated as described above with the relevant period being the portion of the Reference Period (which is the applicable year beginning on October 1 and ending on September 30 of the next succeeding year, with the initial Reference Period being the period from August 1, 2023 to September 30, 2024) for which such Shares were outstanding, and proceeds for any such Share repurchases will be reduced by the amount of any such Performance Participation Allocation. Such Performance Participation Allocation is calculated based on the Transactional Net Asset Value. If the Performance Participation Allocation is paid in Class F Shares, such Shares may be repurchased at KKR’s request and are subject to the repurchase limitations of our share repurchase plan. A Performance Participation Allocation accrual of $54,396 and $1,508 was recorded as of September 30, 2024 and December 31, 2023, respectively, in the Consolidated Statements of Assets and Liabilities. During the three and nine months ended September 30, 2024, the Company recognized a Performance Participation Allocation of $31,406 and $52,896, respectively, in the Consolidated Statements of Operations. During both the three and nine months ended September 30, 2023, the Company recognized a Performance Participation Allocation of $1,300 in the Consolidated Statements of Operations. During the three and nine months ended September 30, 2024, the Company issued 236 and 284 Class F Shares to the Class H Member totaling $7 and $8, respectively, with respect to the Performance Participation Allocation resulting from repurchases of Investor Shares by the Company during the nine months ended September 30, 2024. Dealer-Manager Agreement On July 27, 2023, the Company entered into a Dealer-Manager Agreement (as amended from time to time, the “Dealer-Manager Agreement”) with KKR Capital Markets LLC (the “Dealer Manager”). Pursuant to the Dealer-Manager Agreement, the Dealer Manager solicits sales of the Company’s Shares authorized for issue in accordance with the Company’s confidential Private Placement Memorandum (the “PPM”) and provides certain administrative and shareholder services to the Company, subject to the terms and conditions set forth in the Dealer-Manager Agreement. The Dealer Manager receives certain front-end sales charges, Distribution Fees, Servicing Fees and certain other fees as described in the PPM. Distribution Fees and Servicing Fees The Company will pay KKR Capital Markets LLC ongoing distribution and servicing fees (a) of 0.85% of NAV per annum for Class S Shares, Class U Shares, Class R-S Shares and Class R-U Shares only (consisting of a 0.60% distribution fee (the “Distribution Fee”) and a 0.25% shareholder servicing fee (the “Servicing Fee”)), accrued and payable monthly and (b) of 0.25% for Class D Shares and Class R-D Shares only (all of which constitutes payment for shareholder services, with no payment for distribution services) in each case as accrued, and payable mo nthly. Such Distribution Fee and Servicing Fee are calculated based on the Transactional Net Asset Value. None of the Class I Shares, Class R-I Shares, Class E Shares, Class F Shares, Class G Shares or Class H Shares incur the Distribution Fee or the Servicing Fee. The Dealer Manager (defined below) generally expects to reallow the Distribution Fee and the Servicing Fee to participating broker dealers or other intermediaries. The Company may also pay for certain sub-transfer agency, platform, sub-accounting and administrative services outside of the Distribution Fee and the Servicing Fee. Under GAAP, the Company accrues the cost of the Servicing Fees and Distribution Fees, as applicable, for the estimated life of the shares as an offering cost at the time the Company sells Class S Shares, Class U Shares, Class D Shares, Class R-S Shares, Class R-U Shares and Class R-D Shares. As of September 30, 2024 and December 31, 2023 , the Company has accrued $142,893 and $40,309, respectively, of Servicing Fees and Distribution Fees payable to the Dealer Manager (as defined below) related to Class R-U Shares, Class R-D Shares and Class U Shares sold. Expense Limitation and Reimbursement Agreement On December 6, 2022, the Company entered into an Expense Limitation and Reimbursement Agreement, which was further amended on May 10, 2024 (the “Expense Limitation Agreement”), with the Manager. Pursuant to the Expense Limitation Agreement, the Manager will forgo an amount of its monthly management fee and/or pay, absorb or reimburse certain expenses of the Company, to the extent necessary so that, for any fiscal year, the Company’s annual Specified Expenses (as defined below) do not exceed 0.60% of the Company’s net assets as of the end of each calendar month. “Specified Expenses” is defined to include all expenses incurred in the business of the Company, including organizational and offering costs, with the exception of (i) the management fee, (ii) the Performance Participation Allocation, (iii) the Servicing Fee, (iv) the Distribution Fee, (v) portfolio company level expenses, (vi) brokerage costs or other investment-related out-of-pocket expenses, including with respect to unconsummated transactions, (vii) dividend/interest payments (including any dividend payments, interest expenses, commitment fees, or other expenses related to any leverage incurred by the Company), (viii) taxes, (ix) ordinary corporate operating expenses (including costs and expenses related to hiring, retaining, and compensating employees and officers of the Company), (x) certain insurance costs and (xi) extraordinary expenses (as determined in the sole discretion of the Manager). The Expense Limitation Agreement remains in effect through and including June 30, 2025, but may be renewed by the mutual agreement of the Manager and the Company for successive terms. Under the Expense Limitation Agreement, the Company has agreed to carry forward the amount of the foregone management fees and/or expenses paid, absorbed or reimbursed by the Manager for a period not to exceed three years from the end of the month in which the Manager waived or reimbursed such fees or expenses and to reimburse the Manager for such fees or expenses in accordance with the Expense Limitation Agreement. For the nine months ended September 30, 2024, the Manager agreed to reimburse expenses of $3,170 incurred by the Company pursuant to the Expense Limitation Agreement. For the three and nine months ended September 30, 2023, the Manager agreed to reimburse expenses of $3,269 and $7,045 incurred by the Company, pursuant to the Expense Limitation Agreement. The amounts are subject to recoupment within a three year period. No such expenses were agreed to be reimbursed by the Manager pursuant to the Expense Limitation Agreement for the three months ended September 30, 2024. For both the three and nine months ended September 30, 2024, the Manager recouped expenses of $1,303 incurred by the Company, pursuant to the Expense Limitation Agreement. No such expenses were recouped during the three and nine months ended September 30, 2023. As of December 31, 2023, the Company recorded $13,451 as Due from Manager Due to Manager The following table reflects the amounts subject to recoupment pursuant to the Expense Limitation Agreement and the expiration for future possible recoupments by the Manager as of September 30, 2024: Three Months Ended Amount Last Expiration Date December 31, 2022 $ 2,332 December 31, 2025 March 31, 2023 1,838 March 31, 2026 June 30, 2023 1,938 June 30, 2026 September 30, 2023 3,269 September 30, 2026 December 31, 2023 2,771 December 31, 2026 March 31, 2024 2,211 March 31, 2027 June 30, 2024 959 June 30, 2027 Total $ 15,318 As of September 30, 2024, management believed that it was not probable for the Company to be required to reimburse the expenses waived by the Manager. Acquisition of Interests in Portfolio Companies During the three and nine months ended September 30, 2023, the Company issued Class E Shares of the Company to KKR Alternative Assets LLC, an indirect subsidiary of KKR, for aggregate consideration of $107,863 in exchange for the contribution to the Company of ownership interests in five portfolio companies. No such shares were issued during the three and nine months ended September 30, 2024. During the nine months ended September 30, 2024, the Company purchased interests in portfolio companies from an investment vehicle that is managed by an affiliate of the Manager for $348,432 and recorded unrealized appreciation of $33,046 in connection with the investments acquired. Class H Shares Issuance On July 27, 2023, the Company issued to K-PRIME GP LLC, an indirect subsidiary of KKR, a total of 40 Class H Shares of the Company at $25.00 per Class H Share for aggregate consideration of $1. Line of Credit On December 20, 2023, certain wholly-owned subsidiaries of the Company, as may be added and removed from time to time (the “Borrowers”), entered into an unsecured, uncommitted line of credit, which was further amended on March 21, 2024 (the “Line of Credit”) to provide for up to a maximum aggregate principal amount of $300,000 with KKR Alternative Assets LLC (the “Lender”), an affiliate of the Company. Each loan under the Line of Credit will (i) be subject to an interest rate per annum as set forth in the applicable loan request up to the then-current rate offered by a third party lender or, if no such rate is available, up to Secured Overnight Financing Rate applicable to such loan plus 3.50% and (ii) in the event that the interest rate is zero percent such loan will have a maximum maturity of 364 days following the borrowing of such loan (unless otherwise consented to by the Lender in its sole discretion). The Line of Credit was initially set to expire on December 20, 2024, subject to six-month extension options requiring the Lender’s approval. On November 11, 2024, the Lender agreed to extend the Line of Credit an additional six months through June 20, 2025, subject to additional six-month extension options requiring the Lender’s approval. Each advance under the Line of Credit is repayable on the earlier of the (i) 180th day following the earlier of (x) the Lender’s demand and (y) the expiration of the line of credit and (ii) if specified, the scheduled date of repayment for each such loan as set forth in the relevant loan request (the “Scheduled Repayment Date”), which date shall in no case be later than 364 days following the borrowing of such loan (unless the Lender, in its sole discretion, consents to a Scheduled Repayment Date that is later than 364 days following the borrowing of such loan). To the extent the Company has not repaid all loans and other obligations under the Line of Credit after a repayment event has occurred, the Company is obligated to apply excess available cash proceeds to the repayment of such loans and other obligations; provided that the Borrowers will be permitted to (w) make payments to fulfill any repurchase requests pursuant to the Company’s share repurchase plan or any excess tender offer on the terms described in the Company’s private placement memorandum, (x) use funds to close any acquisition of a portfolio company which the Company committed to prior to receiving a demand notice, (y) make elective distributions of an amount not to exceed amounts paid in the immediately preceding fiscal quarter and (z) pay any taxes when due. The Line of Credit also permits voluntary prepayment of principal and accrued interest without any penalty other than customary breakage costs subject to the Lender’s discretion. Each Borrower may withdraw from the Line of Credit at the time all such obligations held by such Borrower to the Lender under the Line of Credit have been repaid to the Lender in full. The Line of Credit contains customary events of default. As is customary in such financings, if an event of default occurs under the Line of Credit, the Lender may accelerate the repayment of amounts outstanding under the Line of Credit and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. The Lender and its assignees shall not have any recourse to any entities with interests in the Borrowers such as a general partner or investor, including the Company, or any of their respective assets for any indebtedness or other monetary obligation incurred under the Line of Credit. As of December 31, 2023, the outstanding balance on the Line of Credit was $19,200, all of which was subsequently repaid on January 4, 2024. No balance was outstanding on the Line of Credit as of September 30, 2024. For the period from January 1, 2024 to January 4, 2024, the Company incurred interest expense of $14, which was waived by the Lender.

Shareholders_ Equity

Shareholders’ Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Shareholders’ Equity	Shareholders’ Equity The following table is a summary of share activity during the three months ended September 30, 2024 and shares outstanding as of that date: Shares Shares Issued During the Period Shares Repurchased During the Period Transfers In During the Period Transfers Out During the Period Shares Outstanding as of September 30, 2024 Class I Shares 12,209 914 — — — 13,123 Class U Shares 110,734 16,200 — — — 126,934 Class R-D Shares 2,796,988 5,234,893 — — (6,387) 8,025,494 Class R-I Shares 33,302,088 6,640,650 — 22,572 — 39,965,310 Class R-U Shares 63,960,210 13,085,382 (25,246) — (16,344) 77,004,002 Class F Shares 5,657 4,742 — — — 10,399 Class G Shares 40 — — — — 40 Class H Shares 40 — — — — 40 Total 100,187,966 24,982,781 (25,246) 22,572 (22,731) 125,145,342 The following table is a summary of share activity during the nine months ended September 30, 2024 and shares outstanding as of that date: Shares Outstanding as of December 31, 2023 Shares Issued During the Period Shares Repurchased During the Period Transfers In During the Period Transfers Out During the Period Shares Outstanding as of September 30, 2024 Class I Shares 69,695 13,653 — — (70,225) 13,123 Class U Shares — 126,934 — — — 126,934 Class R-D Shares — 8,037,638 — — (12,144) 8,025,494 Class R-I Shares 4,452,158 35,313,662 (2,871) 202,361 — 39,965,310 Class R-U Shares 22,941,060 54,219,804 (36,083) — (120,779) 77,004,002 Class F Shares 1,967 8,432 — — — 10,399 Class G Shares 40 — — — — 40 Class H Shares 40 — — — — 40 Total 27,464,960 97,720,123 (38,954) 202,361 (203,148) 125,145,342 The following table is a summary of share activity during the nine months ended September 30, 2023 and shares outstanding as of September 30, 2023: Shares Outstanding as of December 31, 2022 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 65,811 — 65,811 Class R-I Shares — 1,438,086 — 1,438,086 Class R-U Shares — 11,982,497 — 11,982,497 Class E Shares — 4,314,539 (4,314,539) — Class G Shares 40 — — 40 Class H Shares — 40 — 40 Total 40 17,800,973 (4,314,539) 13,486,474 Distribution Reinvestment Plan The Company adopted a Distribution Reinvestment Plan (the “DRIP”) in which cash distributions to holders of our Shares will automatically be reinvested in additional whole and fractional Shares attributable to the class of Shares that a Shareholder owns unless such holders elect to receive distributions in cash. Shareholders may terminate their participation in the DRIP with prior written notice to us. Under the DRIP, Shareholders’ distributions are reinvested in Shares of the same class owned by the Shareholder for a purchase price equal to the most recently available Transactional Net Asset Value per Share. Shareholders will not pay a sales load when purchasing Shares under our DRIP; however, Class S Shares, Class D Shares, Class U Shares, Class R-S Shares, Class R-D Shares and Class R-U Shares, including those purchased under our DRIP, will be subject to applicable ongoing distribution and/or shareholder servicing fees. As of September 30, 2024 and December 31, 2023, the Company has not issued any Shares under the DRIP. Share Repurchases The Company offers a share repurchase plan pursuant to which, on a quarterly basis, Shareholders may request that we repurchase all or any portion of their Shares. The Company may repurchase fewer Shares than have been requested in any particular quarter to be repurchased under our share repurchase plan, or none at all, in our discretion at any time. In addition, the aggregate NAV of total repurchases of Class S Shares, Class D Shares, Class U Shares, Class I Shares, Class R-S Shares, Class R-D Shares, Class R-U Shares, Class R-I Shares or Class F Shares under our share repurchase plan will be limited to no more than 5% of our aggregate NAV attributable to such classes of Shares per calendar quarter (measured using the average aggregate NAV attributable to Shareholders as of the end of the immediately preceding calendar quarter). The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on May 6, 2024: Class R-I Shares $ 26.12 2,871 $ 75 $ 6 $ 69 Class R-U Shares 25.97 10,837 281 11 270 Shares repurchased on August 5, 2024: Class R-U Shares 27.07 25,246 684 34 650 Total 38,954 $ 1,040 $ 51 $ 989 Repurchase Arrangement for Class E Shares held by KKR On August 31, 2023, pursuant to the Company's KKR Share Repurchase Arrangement, effective July 27, 2023 (the “KKR Share Repurchase Arrangement”), the Company repurchased the outstanding Class E Shares of the Company from KKR Alternative Assets LLC for an aggregate purchase price of $107,863. As of both September 30, 2024 and December 31, 2023, no Class E Shares were outstanding. No shares were repurchased by the Company, pursuant to the KKR Share Repurchase Arrangement, during the three and nine months ended September 30, 2024. Distributions The Company did not declare or pay any distributions during the three and nine months ended September 30, 2024.

Distributions

Distributions	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Distributions	Shareholders’ Equity The following table is a summary of share activity during the three months ended September 30, 2024 and shares outstanding as of that date: Shares Shares Issued During the Period Shares Repurchased During the Period Transfers In During the Period Transfers Out During the Period Shares Outstanding as of September 30, 2024 Class I Shares 12,209 914 — — — 13,123 Class U Shares 110,734 16,200 — — — 126,934 Class R-D Shares 2,796,988 5,234,893 — — (6,387) 8,025,494 Class R-I Shares 33,302,088 6,640,650 — 22,572 — 39,965,310 Class R-U Shares 63,960,210 13,085,382 (25,246) — (16,344) 77,004,002 Class F Shares 5,657 4,742 — — — 10,399 Class G Shares 40 — — — — 40 Class H Shares 40 — — — — 40 Total 100,187,966 24,982,781 (25,246) 22,572 (22,731) 125,145,342 The following table is a summary of share activity during the nine months ended September 30, 2024 and shares outstanding as of that date: Shares Outstanding as of December 31, 2023 Shares Issued During the Period Shares Repurchased During the Period Transfers In During the Period Transfers Out During the Period Shares Outstanding as of September 30, 2024 Class I Shares 69,695 13,653 — — (70,225) 13,123 Class U Shares — 126,934 — — — 126,934 Class R-D Shares — 8,037,638 — — (12,144) 8,025,494 Class R-I Shares 4,452,158 35,313,662 (2,871) 202,361 — 39,965,310 Class R-U Shares 22,941,060 54,219,804 (36,083) — (120,779) 77,004,002 Class F Shares 1,967 8,432 — — — 10,399 Class G Shares 40 — — — — 40 Class H Shares 40 — — — — 40 Total 27,464,960 97,720,123 (38,954) 202,361 (203,148) 125,145,342 The following table is a summary of share activity during the nine months ended September 30, 2023 and shares outstanding as of September 30, 2023: Shares Outstanding as of December 31, 2022 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 65,811 — 65,811 Class R-I Shares — 1,438,086 — 1,438,086 Class R-U Shares — 11,982,497 — 11,982,497 Class E Shares — 4,314,539 (4,314,539) — Class G Shares 40 — — 40 Class H Shares — 40 — 40 Total 40 17,800,973 (4,314,539) 13,486,474 Distribution Reinvestment Plan The Company adopted a Distribution Reinvestment Plan (the “DRIP”) in which cash distributions to holders of our Shares will automatically be reinvested in additional whole and fractional Shares attributable to the class of Shares that a Shareholder owns unless such holders elect to receive distributions in cash. Shareholders may terminate their participation in the DRIP with prior written notice to us. Under the DRIP, Shareholders’ distributions are reinvested in Shares of the same class owned by the Shareholder for a purchase price equal to the most recently available Transactional Net Asset Value per Share. Shareholders will not pay a sales load when purchasing Shares under our DRIP; however, Class S Shares, Class D Shares, Class U Shares, Class R-S Shares, Class R-D Shares and Class R-U Shares, including those purchased under our DRIP, will be subject to applicable ongoing distribution and/or shareholder servicing fees. As of September 30, 2024 and December 31, 2023, the Company has not issued any Shares under the DRIP. Share Repurchases The Company offers a share repurchase plan pursuant to which, on a quarterly basis, Shareholders may request that we repurchase all or any portion of their Shares. The Company may repurchase fewer Shares than have been requested in any particular quarter to be repurchased under our share repurchase plan, or none at all, in our discretion at any time. In addition, the aggregate NAV of total repurchases of Class S Shares, Class D Shares, Class U Shares, Class I Shares, Class R-S Shares, Class R-D Shares, Class R-U Shares, Class R-I Shares or Class F Shares under our share repurchase plan will be limited to no more than 5% of our aggregate NAV attributable to such classes of Shares per calendar quarter (measured using the average aggregate NAV attributable to Shareholders as of the end of the immediately preceding calendar quarter). The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on May 6, 2024: Class R-I Shares $ 26.12 2,871 $ 75 $ 6 $ 69 Class R-U Shares 25.97 10,837 281 11 270 Shares repurchased on August 5, 2024: Class R-U Shares 27.07 25,246 684 34 650 Total 38,954 $ 1,040 $ 51 $ 989 Repurchase Arrangement for Class E Shares held by KKR On August 31, 2023, pursuant to the Company's KKR Share Repurchase Arrangement, effective July 27, 2023 (the “KKR Share Repurchase Arrangement”), the Company repurchased the outstanding Class E Shares of the Company from KKR Alternative Assets LLC for an aggregate purchase price of $107,863. As of both September 30, 2024 and December 31, 2023, no Class E Shares were outstanding. No shares were repurchased by the Company, pursuant to the KKR Share Repurchase Arrangement, during the three and nine months ended September 30, 2024. Distributions The Company did not declare or pay any distributions during the three and nine months ended September 30, 2024.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company was not subject to any material litigation nor was the Company aware of any material litigation threatened against it. Funding Commitments and Others The Company had $19,943 and $8,833 of unfunded commitments in portfolio companies as of September 30, 2024 and December 31, 2023, respectively. Indemnification Under the LLC Agreement and organizational documents, the members of the Board, officers of the Company, the Manager, KKR, and their respective affiliates, directors, officers, representatives, agents and employees are indemnified against certain liabilities arising out of the performance of their duties to the Company. In the normal course of business, the Company enters into contracts that contain a variety of representations and that provide general indemnifications. The Company’s maximum liability exposure under these arrangements is unknown, as future claims that have not yet occurred may be made against the Company.

Financial Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2024
Investment Company, Financial Highlights [Abstract]
Financial Highlights	Financial Highlights The following is a schedule of the financial highlights of the Company attributed to each class of Shares for the nine months ended September 30, 2024: Class I Shares Class U Shares Class R-D Shares Class R-I Shares Class R-U Shares Class F Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (January 1, 2024) $ 25.88 $ — $ — $ 25.87 $ 24.08 $ 26.02 $ 26.02 $ 26.02 Consideration from the issuance of shares, net — 27.11 27.10 — 1.90 — — — Repurchase of shares — — — — — — — — Early repurchase fee — — — — — — — — Transfers in — — — — — — — — Transfers out — — — — (0.01) — — — Accrued shareholder servicing fees and distribution fees (2) — (2.10) (1.31) — (1.94) — — — Net investment (loss) income (2) (0.61) (0.31) (0.58) (0.50) (0.44) 0.16 0.18 0.18 Net realized gain (loss) and change in unrealized appreciation (depreciation) (2) 3.42 2.07 2.83 3.28 3.00 3.20 3.18 3.18 Net increase (decrease) in net assets attributed to shareholders 2.81 (0.34) 0.94 2.78 2.51 3.36 3.36 3.36 Net asset value per share at the end of period (September 30, 2024) $ 28.69 $ 26.77 $ 28.04 $ 28.65 $ 26.59 $ 29.38 $ 29.38 $ 29.38 Net assets at end of period (September 30, 2024) $ 377 $ 3,398 $ 225,073 $ 1,145,171 $ 2,047,627 $ 306 $ 1 $ 1 Shares outstanding at end of period (September 30, 2024) 13,123 126,934 8,025,494 39,965,310 77,004,002 10,399 40 40 Weighted average shares outstanding at end of period (September 30, 2024) 6,785 115,648 3,453,213 25,419,205 54,036,228 6,538 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to net asset value (3) : Operating expenses before Performance Participation Allocation (4)(6) 0.43 % 0.22 % 0.39 % 0.42 % 0.46 % 0.44 % 0.44 % 0.44 % Operating expenses before expenses reimbursed and/or recouped by Manager (4) (5) 3.13 % 1.57 % 2.92 % 2.98 % 3.01 % 0.53 % 0.65 % 0.65 % Operating expenses after expenses reimbursed and/or recouped by Manager (4) (5) 3.16 % 1.60 % 2.96 % 2.93 % 2.89 % 0.44 % 0.44 % 0.44 % Operating expenses after Performance Participation Allocation (4) (6) 3.16 % 1.60 % 2.96 % 2.93 % 2.89 % 0.44 % 0.44 % 0.44 % Net investment (loss) income (4) (2.20) % (1.20) % (2.13) % (1.83) % (1.73) % 0.58 % 0.68 % 0.68 % Total GAAP return attributed to Shares based on net asset value (7) 10.86 % (0.37) % 7.85 % 10.75 % 10.42 % 12.91 % 12.91 % 12.91 % The following is a schedule of the financial highlights of the Company attributed to each class of Shares for the period from August 1, 2023 (commencement of principal operations) through September 30, 2023: Class I Shares Class R-I Shares Class R-U Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (August 1, 2023) $ — $ — $ — $ 25.00 $ 25.00 Consideration from the issuance of shares, net 25.45 25.22 25.17 — — Repurchase of shares — — — — — Accrued shareholder servicing fees and distribution fees (2) — — (2.15) — — Net investment loss (2) — (0.03) (0.03) — — Net change in unrealized appreciation (2) 0.27 0.54 1.01 0.90 0.90 Net increase (decrease) in net assets attributed to shareholders 0.27 0.51 (1.17) 0.90 0.90 Net asset value per share at the end of period (September 30, 2023) $ 25.72 $ 25.73 $ 24.00 $ 25.90 $ 25.90 Net assets at end of period (September 30, 2023) $ 1,693 $ 37,001 $ 287,561 $ 1 $ 1 Shares outstanding at end of period (September 30, 2023) 65,811 1,438,086 11,982,497 40 40 Weighted average shares outstanding at end of period (September 30, 2023) 65,811 1,074,681 9,603,295 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to net asset value (3) : Operating expenses before Performance Participation Allocation (4) 0.13 % 0.32 % 0.35 % 0.20 % 0.20 % Operating expenses before expenses reimbursed by Manager (4) (5) 0.68 % 1.67 % 1.80 % 1.15 % 1.15 % Operating expenses after expenses reimbursed by Manager (4) (5) 0.32 % 0.79 % 0.85 % 0.20 % 0.20 % Operating expenses after Performance Participation Allocation (4) (6) 0.32 % 0.79 % 0.85 % 0.20 % 0.20 % Net investment (loss) income (4) (0.03) % (0.11) % (0.13) % 0.51 % 0.51 % Total GAAP return attributed to Shares based on net asset value (7) 1.07 % 2.65 % (6.02) % 3.54 % 3.54 % (1) Per share data may be rounded in order to recompute the ending net asset value per share. (2) The per share data was derived by using the weighted average shares outstanding during the applicable period. (3) Actual results may not be indicative of future results. Additionally, an individual Shareholder’s ratios may vary from the ratios presented for a share class as a whole. (4) Weighted average net assets during the applicable period are used for this calculation. (5) Ratios presented after accounting for the accrual of the Performance Participation Allocation. (6) Ratios presented after expenses reimbursed and/or recouped by Manager. (7) The Total return is calculated for each share class as the change in the net asset value for such share class during the period plus any distributions per share declared in the period, and assumes any distributions are reinvested in accordance with our distribution reinvestment plan. Amounts are not annualized and are not representative of total return as calculated for purposes of the Performance Participation Allocation as described in Note 5. Related Party Transactions. The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by Shareholders in the purchase of the Company’s Shares. The Company did not declare or pay any distributions during the nine months ended September 30, 2024 and 2023.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company operates so that it will qualify to be treated as a partnership for U.S. federal income tax purposes under the Internal Revenue Code of 1986, as amended, and not as a publicly traded partnership taxable as a corporation. As such, it will not be subject to any U.S. federal and state income taxes. In any year, it is possible that the Company will be considered a publicly traded partnership and will not meet the qualifying income exception, which would result in the Company being treated as a publicly traded partnership and taxed as a corporation, rather than as a partnership. In such case, the members would then be treated as shareholders in a corporation, and the Company would become taxable as a corporation for U.S. federal, state and/or local income tax purposes. The Company would be required to pay income tax at corporate rates on its net taxable income. In addition, the Company operates, in part, through subsidiaries that may be treated as corporations for U.S. and non-U.S. tax purposes and therefore may be subject to current and deferred U.S. federal, state and/or local income taxes at the subsidiary level.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Unregistered Sale of Equity Securities On October 1, 2024, the Company sold the following Investor Shares of the Company (with the final number of shares determined on October 18, 2024) to investors for cash: Class Number of Shares Sold Net Consideration Class I Shares 9,584 $ 275 Class R-D Shares 558,976 15,980 Class R-I Shares 4,094,656 117,329 Class R-U Shares 4,386,837 124,355 $ 257,939 Share Repurchases The following table summarizes the Shares repurchased on November 5, 2024 by the Company in connection with the Company’s share repurchase plan: Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Class R-U Shares $ 28.35 46,563 $ 1,320 $ 65 $ 1,255 Class R-I Shares 28.65 383 11 1 10 Amended and Restated Dividend Reinvestment Plan On November 12, 2024, the Company adopted an Amended and Restated Distribution Reinvestment Plan (the “A&R DRIP”), effective November 12, 2024, pursuant to which cash distributions to holders of the Shares will automatically be reinvested in whole and fractional Shares attributed to the class of Shares that a shareholder owns unless such holders elect to receive such distribution in cash. Pursuant to the A&R DRIP, if a shareholder requests that the Company repurchase all of the shareholder’s Shares pursuant to the Company's share repurchase plan (as amended from time to time, the “SRP”), such shareholder’s participation in the A&R DRIP shall be deemed terminated effective upon the Company’s receipt of such request, regardless of whether or not the Company accepts all such Shares for repurchase pursuant to the SRP, provided, that, if such shareholder subsequently withdraws its request prior to the applicable deadline therefor under the SRP, such shareholder may participate in the A&R DRIP by notifying the Company and the plan administrator of the A&R DRIP at least three (3) days prior to the record date of a distribution from the Company. Performance Participation Allocation

Summary of Significant Accoun_2

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

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
Schedule of Portfolio Companies Financial Information	The following table presents unaudited summarized financial information for the portfolio companies in the aggregate in which the Company has an indirect equity interest for the three and nine months ended September 30, 2024 and 2023. Amounts provided do not represent the Company’s proportionate share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 8,352,187 $ 531,782 $ 12,952,565 $ 1,429,377 Expenses 8,401,197 539,059 13,338,682 1,541,010 Loss before taxes (49,010) (7,277) (386,117) (111,633) Income tax expense 323,629 47 339,225 66 Consolidated net loss (372,639) (7,324) (725,342) (111,699) Net loss attributable to non-controlling interests — — 72 — Net loss $ (372,639) $ (7,324) $ (725,270) $ (111,699)

Fair Value Measurements - Inv_2

Fair Value Measurements - Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements of Investments, by Major Class	The following tables present fair value measurements of investments, by major class, according to the fair value hierarchy: September 30, 2024 Investments Level I Level II Level III Fair Value Portfolio companies $ — $ — $ 2,948,912 $ 2,948,912 Unrealized depreciation on foreign currency forward contracts — (303) — (303) Unrealized appreciation on foreign currency forward contracts — 1 — 1 Investments in Money Market Funds 695,668 — — 695,668 Total $ 695,668 $ (302) $ 2,948,912 $ 3,644,278 December 31, 2023 Investments Level I Level II Level III Fair Value Portfolio companies $ — $ — $ 713,610 $ 713,610 Unrealized depreciation on foreign currency forward contracts — (742) — (742) Unrealized appreciation on foreign currency forward contracts — 103 — 103 Investments in Money Market Funds 18,007 — — 18,007 Total $ 18,007 $ (639) $ 713,610 $ 730,978
Schedule of Reconciliation of Infrastructure Assets, Level III Inputs	The following tables provide a reconciliation of the beginning and ending balances for investments that use Level III inputs for the nine months ended September 30, 2024: Nine Months Ended September 30, 2024 Investments Balance as of December 31, 2023 Purchases Sales and Proceeds from Investments Change in Gain (Loss) included in Net Assets Net change in unrealized appreciation on investments Net change in unrealized appreciation on foreign currency translation Balance as of September 30, 2024 Portfolio companies $ 713,610 $ 1,907,356 $ (12,708) $ 4,111 $ 326,635 $ 9,908 $ 2,948,912
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following tables present the quantitative information about Level III fair value measurements of the Company’s portfolio companies as of September 30, 2024 and December 31, 2023: Level III Assets Fair Value September 30, 2024 Valuation Methodology and Inputs Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Portfolio companies $2,948,912 Inputs to market comparables, discounted cash flow and transaction price/other Illiquidity Discount 9.3% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 42.5% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 41.9% 0.0% - 75.0% (5) Weight Ascribed to Transaction Price/Other 15.6% 0.0% - 100.0% (6) Market Comparables Enterprise Value / Forward EBITDA Multiple 12.8x 7.9x - 23.3x Increase Enterprise Value / Forward Revenues Multiple 5.2x 2.6x - 7.1x Increase Discounted Cash Flow Weighted Average Cost of Capital 11.2% 6.1% - 17.8% Decrease Enterprise Value / LTM EBITDA Exit Multiple 12.7x 8.5x - 23.0x Increase Level III Assets Fair Value December 31, 2023 Valuation Methodology and Inputs Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Portfolio companies $713,610 Inputs to market comparables, discounted cash flow and transaction price/other Illiquidity Discount 7.4% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 25.0% 0.0% - 50.0% (4) Weight Ascribed to Discounted Cash Flow 40.2% 0.0% - 75.0% (5) Weight Ascribed to Transaction Price/Other 34.8% 0.0%- 100.0% (6) Market Comparables Enterprise Value / Forward EBITDA Multiple 14.6x 7.5x - 17.8x Increase Discounted Cash Flow Weighted Average Cost of Capital 11.6% 8.5% - 18.2% Decrease Enterprise Value / LTM EBITDA Exit Multiple 14.9x 8.5x - 17.5x Increase (1) In determining the inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies, and company-specific developments including exit strategies and realization opportunities. The Manager has determined that market participants would take these inputs into account when valuing the investments. “LTM” means Last Twelve Months. (2) Inputs are weighted based on fair value of the investments included in the range. (3) Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. (4) The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price approach. (5) The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach and transaction price approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach and transaction price approach. (6) The directional change from an increase in the weight ascribed to the transaction price would increase the fair value of the Level III investments if the transaction price results in a higher valuation than the market comparables approach and discounted cash flow approach. The opposite would be true if the transaction price results in a lower valuation than the market comparables approach and discounted cash flow approach. Valuations involve subjective judgments and may not accurately reflect realizable value. The assumptions above are determined by the Manager and reviewed by the Manager’s independent valuation advisor. A change in these assumptions or factors would impact the calculation of the value of our assets. Derivative Instruments The Company enters into foreign currency forward contracts to hedge against foreign currency exchange rate risk on its non-U.S. dollar denominated securities or to facilitate settlement of foreign currency denominated Infrastructure Asset transactions. A foreign currency forward contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. These contracts are marked-to-market by recognizing the difference between the contract forward exchange rate and the forward market exchange rate on the last day of the period as unrealized appreciation or depreciation. When a foreign currency forward contract is closed, through either delivery or offset by entering into another foreign currency forward contract, the Company recognizes realized appreciation or depreciation equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was closed. Foreign currency forward contracts involve elements of market risk in excess of the amounts reflected on the Consolidated Statements of Assets and Liabilities. The Company’s primary risk related to hedging is the risk of an unfavorable change in the foreign exchange rate underlying the foreign currency forward contract.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Subject to Recoupment Pursuant to the Expense Limitation Agreement	The following table reflects the amounts subject to recoupment pursuant to the Expense Limitation Agreement and the expiration for future possible recoupments by the Manager as of September 30, 2024: Three Months Ended Amount Last Expiration Date December 31, 2022 $ 2,332 December 31, 2025 March 31, 2023 1,838 March 31, 2026 June 30, 2023 1,938 June 30, 2026 September 30, 2023 3,269 September 30, 2026 December 31, 2023 2,771 December 31, 2026 March 31, 2024 2,211 March 31, 2027 June 30, 2024 959 June 30, 2027 Total $ 15,318

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accelerated Share Repurchases	The following table is a summary of share activity during the three months ended September 30, 2024 and shares outstanding as of that date: Shares Shares Issued During the Period Shares Repurchased During the Period Transfers In During the Period Transfers Out During the Period Shares Outstanding as of September 30, 2024 Class I Shares 12,209 914 — — — 13,123 Class U Shares 110,734 16,200 — — — 126,934 Class R-D Shares 2,796,988 5,234,893 — — (6,387) 8,025,494 Class R-I Shares 33,302,088 6,640,650 — 22,572 — 39,965,310 Class R-U Shares 63,960,210 13,085,382 (25,246) — (16,344) 77,004,002 Class F Shares 5,657 4,742 — — — 10,399 Class G Shares 40 — — — — 40 Class H Shares 40 — — — — 40 Total 100,187,966 24,982,781 (25,246) 22,572 (22,731) 125,145,342 The following table is a summary of share activity during the nine months ended September 30, 2024 and shares outstanding as of that date: Shares Outstanding as of December 31, 2023 Shares Issued During the Period Shares Repurchased During the Period Transfers In During the Period Transfers Out During the Period Shares Outstanding as of September 30, 2024 Class I Shares 69,695 13,653 — — (70,225) 13,123 Class U Shares — 126,934 — — — 126,934 Class R-D Shares — 8,037,638 — — (12,144) 8,025,494 Class R-I Shares 4,452,158 35,313,662 (2,871) 202,361 — 39,965,310 Class R-U Shares 22,941,060 54,219,804 (36,083) — (120,779) 77,004,002 Class F Shares 1,967 8,432 — — — 10,399 Class G Shares 40 — — — — 40 Class H Shares 40 — — — — 40 Total 27,464,960 97,720,123 (38,954) 202,361 (203,148) 125,145,342 The following table is a summary of share activity during the nine months ended September 30, 2023 and shares outstanding as of September 30, 2023: Shares Outstanding as of December 31, 2022 Shares Issued During the Period Shares Repurchased During the Period Shares Outstanding as of September 30, 2023 Class I Shares — 65,811 — 65,811 Class R-I Shares — 1,438,086 — 1,438,086 Class R-U Shares — 11,982,497 — 11,982,497 Class E Shares — 4,314,539 (4,314,539) — Class G Shares 40 — — 40 Class H Shares — 40 — 40 Total 40 17,800,973 (4,314,539) 13,486,474
Schedule of Repurchase Agreements	The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on May 6, 2024: Class R-I Shares $ 26.12 2,871 $ 75 $ 6 $ 69 Class R-U Shares 25.97 10,837 281 11 270 Shares repurchased on August 5, 2024: Class R-U Shares 27.07 25,246 684 34 650 Total 38,954 $ 1,040 $ 51 $ 989 The following table summarizes the Shares repurchased on November 5, 2024 by the Company in connection with the Company’s share repurchase plan: Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Class R-U Shares $ 28.35 46,563 $ 1,320 $ 65 $ 1,255 Class R-I Shares 28.65 383 11 1 10

Financial Highlights (Tables)

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2024
Investment Company, Financial Highlights [Abstract]
Schedule of Financial Highlights	The following is a schedule of the financial highlights of the Company attributed to each class of Shares for the nine months ended September 30, 2024: Class I Shares Class U Shares Class R-D Shares Class R-I Shares Class R-U Shares Class F Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (January 1, 2024) $ 25.88 $ — $ — $ 25.87 $ 24.08 $ 26.02 $ 26.02 $ 26.02 Consideration from the issuance of shares, net — 27.11 27.10 — 1.90 — — — Repurchase of shares — — — — — — — — Early repurchase fee — — — — — — — — Transfers in — — — — — — — — Transfers out — — — — (0.01) — — — Accrued shareholder servicing fees and distribution fees (2) — (2.10) (1.31) — (1.94) — — — Net investment (loss) income (2) (0.61) (0.31) (0.58) (0.50) (0.44) 0.16 0.18 0.18 Net realized gain (loss) and change in unrealized appreciation (depreciation) (2) 3.42 2.07 2.83 3.28 3.00 3.20 3.18 3.18 Net increase (decrease) in net assets attributed to shareholders 2.81 (0.34) 0.94 2.78 2.51 3.36 3.36 3.36 Net asset value per share at the end of period (September 30, 2024) $ 28.69 $ 26.77 $ 28.04 $ 28.65 $ 26.59 $ 29.38 $ 29.38 $ 29.38 Net assets at end of period (September 30, 2024) $ 377 $ 3,398 $ 225,073 $ 1,145,171 $ 2,047,627 $ 306 $ 1 $ 1 Shares outstanding at end of period (September 30, 2024) 13,123 126,934 8,025,494 39,965,310 77,004,002 10,399 40 40 Weighted average shares outstanding at end of period (September 30, 2024) 6,785 115,648 3,453,213 25,419,205 54,036,228 6,538 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to net asset value (3) : Operating expenses before Performance Participation Allocation (4)(6) 0.43 % 0.22 % 0.39 % 0.42 % 0.46 % 0.44 % 0.44 % 0.44 % Operating expenses before expenses reimbursed and/or recouped by Manager (4) (5) 3.13 % 1.57 % 2.92 % 2.98 % 3.01 % 0.53 % 0.65 % 0.65 % Operating expenses after expenses reimbursed and/or recouped by Manager (4) (5) 3.16 % 1.60 % 2.96 % 2.93 % 2.89 % 0.44 % 0.44 % 0.44 % Operating expenses after Performance Participation Allocation (4) (6) 3.16 % 1.60 % 2.96 % 2.93 % 2.89 % 0.44 % 0.44 % 0.44 % Net investment (loss) income (4) (2.20) % (1.20) % (2.13) % (1.83) % (1.73) % 0.58 % 0.68 % 0.68 % Total GAAP return attributed to Shares based on net asset value (7) 10.86 % (0.37) % 7.85 % 10.75 % 10.42 % 12.91 % 12.91 % 12.91 % The following is a schedule of the financial highlights of the Company attributed to each class of Shares for the period from August 1, 2023 (commencement of principal operations) through September 30, 2023: Class I Shares Class R-I Shares Class R-U Shares Class G Shares Class H Shares Per share data attributed to shares (1) Net asset value per share at beginning of period (August 1, 2023) $ — $ — $ — $ 25.00 $ 25.00 Consideration from the issuance of shares, net 25.45 25.22 25.17 — — Repurchase of shares — — — — — Accrued shareholder servicing fees and distribution fees (2) — — (2.15) — — Net investment loss (2) — (0.03) (0.03) — — Net change in unrealized appreciation (2) 0.27 0.54 1.01 0.90 0.90 Net increase (decrease) in net assets attributed to shareholders 0.27 0.51 (1.17) 0.90 0.90 Net asset value per share at the end of period (September 30, 2023) $ 25.72 $ 25.73 $ 24.00 $ 25.90 $ 25.90 Net assets at end of period (September 30, 2023) $ 1,693 $ 37,001 $ 287,561 $ 1 $ 1 Shares outstanding at end of period (September 30, 2023) 65,811 1,438,086 11,982,497 40 40 Weighted average shares outstanding at end of period (September 30, 2023) 65,811 1,074,681 9,603,295 40 40 Ratio/Supplemental data for Shares (not annualized): Ratios to net asset value (3) : Operating expenses before Performance Participation Allocation (4) 0.13 % 0.32 % 0.35 % 0.20 % 0.20 % Operating expenses before expenses reimbursed by Manager (4) (5) 0.68 % 1.67 % 1.80 % 1.15 % 1.15 % Operating expenses after expenses reimbursed by Manager (4) (5) 0.32 % 0.79 % 0.85 % 0.20 % 0.20 % Operating expenses after Performance Participation Allocation (4) (6) 0.32 % 0.79 % 0.85 % 0.20 % 0.20 % Net investment (loss) income (4) (0.03) % (0.11) % (0.13) % 0.51 % 0.51 % Total GAAP return attributed to Shares based on net asset value (7) 1.07 % 2.65 % (6.02) % 3.54 % 3.54 % (1) Per share data may be rounded in order to recompute the ending net asset value per share. (2) The per share data was derived by using the weighted average shares outstanding during the applicable period. (3) Actual results may not be indicative of future results. Additionally, an individual Shareholder’s ratios may vary from the ratios presented for a share class as a whole. (4) Weighted average net assets during the applicable period are used for this calculation. (5) Ratios presented after accounting for the accrual of the Performance Participation Allocation. (6) Ratios presented after expenses reimbursed and/or recouped by Manager. (7) The Total return is calculated for each share class as the change in the net asset value for such share class during the period plus any distributions per share declared in the period, and assumes any distributions are reinvested in accordance with our distribution reinvestment plan. Amounts are not annualized and are not representative of total return as calculated for purposes of the Performance Participation Allocation as described in Note 5. Related Party Transactions. The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by Shareholders in the purchase of the Company’s Shares. The Company did not declare or pay any distributions during the nine months ended September 30, 2024 and 2023.

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Schedule of Subsequent Events	On October 1, 2024, the Company sold the following Investor Shares of the Company (with the final number of shares determined on October 18, 2024) to investors for cash: Class Number of Shares Sold Net Consideration Class I Shares 9,584 $ 275 Class R-D Shares 558,976 15,980 Class R-I Shares 4,094,656 117,329 Class R-U Shares 4,386,837 124,355 $ 257,939
Schedule of Repurchase Agreements	The following table summarizes the Shares repurchased during the nine months ended September 30, 2024: Share Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Shares repurchased on May 6, 2024: Class R-I Shares $ 26.12 2,871 $ 75 $ 6 $ 69 Class R-U Shares 25.97 10,837 281 11 270 Shares repurchased on August 5, 2024: Class R-U Shares 27.07 25,246 684 34 650 Total 38,954 $ 1,040 $ 51 $ 989 The following table summarizes the Shares repurchased on November 5, 2024 by the Company in connection with the Company’s share repurchase plan: Class Repurchase Price per Share Number of Shares Repurchased Gross Consideration 5% Early Repurchase Fee Net Consideration Class R-U Shares $ 28.35 46,563 $ 1,320 $ 65 $ 1,255 Class R-I Shares 28.65 383 11 1 10

Investments - Summarized Portfo

Investments - Summarized Portfolio (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment Company, Nonconsolidated Subsidiary [Line Items]
Net increase in net assets resulting from operations	$ 160,438	$ 7,368	$ 278,319	$ 7,368
Investment Company, Nonconsolidated Subsidiaries
Investment Company, Nonconsolidated Subsidiary [Line Items]
Revenues	8,352,187	531,782	12,952,565	1,429,377
Expenses	8,401,197	539,059	13,338,682	1,541,010
Loss before taxes	(49,010)	(7,277)	(386,117)	(111,633)
Income tax expense	323,629	47	339,225	66
Consolidated net loss	(372,639)	(7,324)	(725,342)	(111,699)
Net loss attributable to non-controlling interests	0	0	72	0
Net increase in net assets resulting from operations	$ (372,639)	$ (7,324)	$ (725,270)	$ (111,699)

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment Company, Nonconsolidated Subsidiary [Line Items]
Unrealized appreciation on investments	$ 4,111	$ 0	$ 4,111	$ 0
Other investment in portfolio company
Investment Company, Nonconsolidated Subsidiary [Line Items]
Purchase of investments			149,691
Unrealized appreciation on investments			$ 34,309

Fair Value Measurements - Inv_3

Fair Value Measurements - Investments - Schedule of Fair Value Measurements of Investments by Major Class (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Portfolio companies	$ 2,948,912	$ 713,610
Unrealized depreciation on foreign currency forward contracts	(303)	(742)
Unrealized appreciation on foreign currency forward contracts	1	103
Investments in Money Market Funds	695,668	18,007
Total	3,644,278	730,978
Level I
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments in Money Market Funds	695,668	18,007
Total	695,668	18,007
Level II
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unrealized depreciation on foreign currency forward contracts	(303)	(742)
Unrealized appreciation on foreign currency forward contracts	1	103
Total	(302)	(639)
Level III
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Portfolio companies	2,948,912	713,610
Total	$ 2,948,912	$ 713,610

Fair Value Measurements - Inv_4

Fair Value Measurements - Investments - Schedule of Investment Holdings (Details) - Portfolio companies $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Investments
Beginning balance	$ 713,610
Purchases	1,907,356
Sales and Proceeds from Investments	(12,708)
Change in Gain (Loss) included in Net Assets	4,111
Net change in unrealized appreciation on investments	326,635
Net change in unrealized appreciation on foreign currency translation	9,908
Ending balance	$ 2,948,912

Fair Value Measurements - Inv_5

Fair Value Measurements - Investments - Quantitative Information (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Portfolio companies	$ 2,948,912	$ 713,610
Level III
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Portfolio companies	$ 2,948,912	$ 713,610
Level III | Weighted Average | Illiquidity Discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.093	0.074
Level III | Weighted Average | Weight Ascribed to Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.425	0.250
Level III | Weighted Average | Weight Ascribed to Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.419	0.402
Level III | Weighted Average | Weight Ascribed to Transaction Price/Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.156	0.348
Level III | Weighted Average | Enterprise Value / Forward EBITDA Multiple | Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	12.8	14.6
Level III | Weighted Average | Enterprise Value / Forward Revenues Multiple | Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	5.2
Level III | Weighted Average | Weighted Average Cost of Capital | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.112	0.116
Level III | Weighted Average | Enterprise Value / LTM EBITDA Exit Multiple | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	12.7	14.9
Level III | Minimum | Illiquidity Discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.050	0.050
Level III | Minimum | Weight Ascribed to Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0	0
Level III | Minimum | Weight Ascribed to Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0	0
Level III | Minimum | Weight Ascribed to Transaction Price/Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0	0
Level III | Minimum | Enterprise Value / Forward EBITDA Multiple | Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	7.9	7.5
Level III | Minimum | Enterprise Value / Forward Revenues Multiple | Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	2.6
Level III | Minimum | Weighted Average Cost of Capital | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.061	0.085
Level III | Minimum | Enterprise Value / LTM EBITDA Exit Multiple | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	8.5	8.5
Level III | Maximum | Illiquidity Discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.150	0.150
Level III | Maximum | Weight Ascribed to Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	1	0.500
Level III | Maximum | Weight Ascribed to Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.750	0.750
Level III | Maximum | Weight Ascribed to Transaction Price/Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	1	1
Level III | Maximum | Enterprise Value / Forward EBITDA Multiple | Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	23.3	17.8
Level III | Maximum | Enterprise Value / Forward Revenues Multiple | Market Comparables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	7.1
Level III | Maximum | Weighted Average Cost of Capital | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	0.178	0.182
Level III | Maximum | Enterprise Value / LTM EBITDA Exit Multiple | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input	23	17.5

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)							3 Months Ended		9 Months Ended
	Nov. 11, 2024	Oct. 01, 2024 USD ($) shares	Jan. 04, 2024 USD ($)	Dec. 20, 2023 USD ($)	Aug. 31, 2023 USD ($)	Jul. 27, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($) portfolio	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($) portfolio shares	Dec. 31, 2023 USD ($)
Related Party Transaction [Line Items]
Increase in management fee payable							$ 8,338,000	$ 459,000	$ 16,959,000	$ 459,000
Management fee and expense credits							8,338,000	0	18,333,000	0
Accrued performance participation allocation							54,396,000		54,396,000		$ 1,508,000
Performance participation allocation							31,406,000	1,300,000	52,896,000	1,300,000
Accrued shareholder servicing fees and distribution fees							142,893,000		142,893,000		40,309,000
Reimbursed expenses							0	3,269,000	3,170,000	7,045,000
Expenses recouped							1,303,000	0	1,303,000	0
Due from Manager							$ 0		$ 0		$ 13,451,000
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]							Manager [Member]		Manager [Member]		Manager [Member]
Due to Manager							$ 8,547,000		$ 8,547,000		$ 14,471,000
Accounts Payable, Related Party, Type [Extensible Enumeration]							Manager [Member]		Manager [Member]		Manager [Member]
Consideration from the issuance of shares							$ 685,689,000		$ 2,586,346,000	$ 447,402,000
Number of shares sold (in shares) | shares							24,982,781		97,720,123	17,800,973
Gross Consideration							$ 684,000		$ 1,040,000	$ 107,863,000
Subsequent Event
Related Party Transaction [Line Items]
Consideration from the issuance of shares		$ 257,939,000
Class H Shares
Related Party Transaction [Line Items]
Consideration from the issuance of shares										$ 1,000
Number of shares sold (in shares) | shares							0		0	40
Class F Shares
Related Party Transaction [Line Items]
Number of shares issued with respect to Performance Participation Allocation (in shares) | shares							236		284
Value of shares issued with respect to Performance Participation Allocation							$ 7,000		$ 8,000
Consideration from the issuance of shares							$ 131,000		$ 228,000
Number of shares sold (in shares) | shares							4,742		8,432
Class F Shares | Subsequent Event
Related Party Transaction [Line Items]
Number of shares sold (in shares) | shares		1,851,319
Class E Shares
Related Party Transaction [Line Items]
Consideration from the issuance of shares										$ 107,863,000
Number of shares sold (in shares) | shares										4,314,539
Gross Consideration										$ 107,863,000
Affiliated Entity
Related Party Transaction [Line Items]
Initial offering period						60 months
Minimum aggregate subscriptions required						$ 100,000,000
Minimum aggregate subscription, purchase period						18 months
Increase in management fee payable							$ 8,338,000	459,000	$ 16,959,000	459,000
Other fees earned, unapplied credits							24,735,000		24,735,000		$ 12,403,000
Purchase of investments									348,432,000
Unrealized appreciation on investments acquired									33,046,000
Affiliated Entity | KKR Alternative Assets LLC
Related Party Transaction [Line Items]
Line of credit facility, maximum borrowing capacity				$ 300,000
Line of credit facility, extension option, period				6 months
Outstanding line of credit							0		0		19,200,000
Interest expense			$ 14,000
Affiliated Entity | KKR Alternative Assets LLC | Subsequent Event
Related Party Transaction [Line Items]
Line of credit facility, extension option, period	6 months
Extension period	6 months
Affiliated Entity | KKR Alternative Assets LLC | Line of Credit
Related Party Transaction [Line Items]
Basis spread on variable rate (as a percent)				3.50%
Interest rate				0%
Affiliated Entity | KKR Alternative Assets LLC | Maximum | Line of Credit
Related Party Transaction [Line Items]
Debt term				364 days
Scheduled repayment period				364 days
Affiliated Entity | KKR Alternative Assets LLC | Minimum | Line of Credit
Related Party Transaction [Line Items]
Scheduled repayment period				180 days
Subsidiaries | Class H Shares | K-Prime GP LLC
Related Party Transaction [Line Items]
Consideration from the issuance of shares						$ 1,000
Number of shares sold (in shares) | shares						40
Price per share (in dollars per share) | $ / shares						$ 25
Subsidiaries | Class E Shares | KKR Alternative Assets LLC
Related Party Transaction [Line Items]
Consideration from the issuance of shares							0	$ 107,863,000	$ 0	$ 107,863,000
Number of portfolio companies acquired | portfolio								5		5
Gross Consideration					$ 107,863,000
Management Fee Percentage Attributable To Class S, D, U and I Shares | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)						1.25%
Management Fee Percentage Attributable to Class R-S, R-D, Class R-U And R-I Shares Following Acceptance of Initial Subscription of Shares | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)						1%
Management Fee Percentage Attributable To Class R-S, R-D, R-U and R-I Shares Following Acceptance of Initial Subscription of Shares | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)						1.25%
Performance Participation Allocation, Total Return Percentage
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									15%
Performance Participation Allocation, Total Return Percentage | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									15%
Performance Participation Allocation, Percentage of Annual Hurdle Amount | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									5%
Performance Participation Allocation, Catch-Up Percentage | Class H Shares
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									100%
Performance Participation Allocation, Percentage of Excess Profits
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									100%
Performance Participation Allocation, Percentage of Remaining Excess Profits
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									15%
Distribution Fees and Servicing Fees | Class R-U, R-D Shares and Class U Shares
Related Party Transaction [Line Items]
Accrued shareholder servicing fees and distribution fees							$ 142,893,000		$ 142,893,000		$ 40,309,000
Distribution Fees and Servicing Fees | Affiliated Entity | Class S, U, R-S and R-U Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									0.85%
Distribution Fees and Servicing Fees | Affiliated Entity | Class I, Class R-I, Class E, Class F, Class G Or Class H Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									0%
Distribution Fee | Affiliated Entity | Class S, U, R-S and R-U Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									0.60%
Servicing Fee | Affiliated Entity | Class S, U, R-S and R-U Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									0.25%
Servicing Fee | Affiliated Entity | Class D and R-D Shares | KKR Capital Markets LLC
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									0.25%
Expense Limitation and Reimbursement Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Agreement term									3 years
Expense Limitation and Reimbursement Agreement | Affiliated Entity | Maximum
Related Party Transaction [Line Items]
Related party transaction rate (as a percent)									0.60%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Subject to Recoupment Pursuant to the Expense Limitation Agreement (Details) - USD ($) $ in Thousands	3 Months Ended							24 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2024
Affiliated Entity
Related Party Transaction [Line Items]
Amount subject to recoupment	$ 959	$ 2,211	$ 2,771	$ 3,269	$ 1,938	$ 1,838	$ 2,332	$ 15,318

Shareholders_ Equity - Schedule

Shareholders’ Equity - Schedule of Share Activity and Repurchased (Details) - shares			3 Months Ended	9 Months Ended
	Aug. 05, 2024	May 06, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			100,187,966	27,464,960	40
Number of shares sold (in shares)			24,982,781	97,720,123	17,800,973
Shares Repurchased During the Period (in shares)			(25,246)	(38,954)	(4,314,539)
Transfers In During the Period (in shares)			22,572	202,361
Transfers Out During the Period (in shares)			(22,731)	(203,148)
Shares Outstanding as of End of Period (in shares)			125,145,342	125,145,342	13,486,474
Class I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			12,209	69,695	0
Number of shares sold (in shares)			914	13,653	65,811
Shares Repurchased During the Period (in shares)			0	0	0
Transfers In During the Period (in shares)			0	0
Transfers Out During the Period (in shares)			0	(70,225)
Shares Outstanding as of End of Period (in shares)			13,123	13,123	65,811
Class U Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			110,734	0
Number of shares sold (in shares)			16,200	126,934
Shares Repurchased During the Period (in shares)			0	0
Transfers In During the Period (in shares)			0	0
Transfers Out During the Period (in shares)			0	0
Shares Outstanding as of End of Period (in shares)			126,934	126,934
Class R-D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			2,796,988	0
Number of shares sold (in shares)			5,234,893	8,037,638
Shares Repurchased During the Period (in shares)			0	0
Transfers In During the Period (in shares)			0	0
Transfers Out During the Period (in shares)			(6,387)	(12,144)
Shares Outstanding as of End of Period (in shares)			8,025,494	8,025,494
Class R-I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			33,302,088	4,452,158	0
Number of shares sold (in shares)			6,640,650	35,313,662	1,438,086
Shares Repurchased During the Period (in shares)		(2,871)	0	(2,871)	0
Transfers In During the Period (in shares)			22,572	202,361
Transfers Out During the Period (in shares)			0	0
Shares Outstanding as of End of Period (in shares)			39,965,310	39,965,310	1,438,086
Class R-U Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			63,960,210	22,941,060	0
Number of shares sold (in shares)			13,085,382	54,219,804	11,982,497
Shares Repurchased During the Period (in shares)	(25,246)	(10,837)	(25,246)	(36,083)	0
Transfers In During the Period (in shares)			0	0
Transfers Out During the Period (in shares)			(16,344)	(120,779)
Shares Outstanding as of End of Period (in shares)			77,004,002	77,004,002	11,982,497
Class E Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)					0
Number of shares sold (in shares)					4,314,539
Shares Repurchased During the Period (in shares)			0	0	(4,314,539)
Shares Outstanding as of End of Period (in shares)					0
Class F Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			5,657	1,967
Number of shares sold (in shares)			4,742	8,432
Shares Repurchased During the Period (in shares)			0	0
Transfers In During the Period (in shares)			0	0
Transfers Out During the Period (in shares)			0	0
Shares Outstanding as of End of Period (in shares)			10,399	10,399
Class G Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			40	40	40
Number of shares sold (in shares)			0	0	0
Shares Repurchased During the Period (in shares)			0	0	0
Transfers In During the Period (in shares)			0	0
Transfers Out During the Period (in shares)			0	0
Shares Outstanding as of End of Period (in shares)			40	40	40
Class H Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares Outstanding as of Beginning of Period (in shares)			40	40	0
Number of shares sold (in shares)			0	0	40
Shares Repurchased During the Period (in shares)			0	0	0
Transfers In During the Period (in shares)			0	0
Transfers Out During the Period (in shares)			0	0
Shares Outstanding as of End of Period (in shares)			40	40	40

Shareholders_ Equity - Narrativ

Shareholders’ Equity - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Aug. 31, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Class of Stock [Line Items]
Repurchase of shares, aggregate purchase price		$ 684	$ 1,040	$ 107,863
Number of shares repurchased (in shares)		25,246	38,954	4,314,539
Class S, Class D, Class U, Class I, Class R-S, Class R-D, Class R-U, Class R-I or Class F Shares
Class of Stock [Line Items]
Share repurchase limitation, maximum percentage		5%	5%
Class E Shares
Class of Stock [Line Items]
Repurchase of shares, aggregate purchase price				$ 107,863
Common stock, shares outstanding (in shares)		0	0		0
Number of shares repurchased (in shares)		0	0	4,314,539
Class E Shares | KKR Alternative Assets LLC | Subsidiaries
Class of Stock [Line Items]
Repurchase of shares, aggregate purchase price	$ 107,863

Shareholders_ Equity - Schedu_2

Shareholders’ Equity - Schedule of Repurchase of Shares (Details) - USD ($) $ / shares in Units, $ in Thousands			2 Months Ended	3 Months Ended	9 Months Ended
	Aug. 05, 2024	May 06, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Class of Stock [Line Items]
Number of Shares Repurchased (in shares)				25,246	38,954	4,314,539
Gross Consideration				$ 684	$ 1,040	$ 107,863
5% Early Repurchase Fee					51
Net Consideration					$ 989
Early share repurchase fee (as a percent)				5%	5%
Class R-I Shares
Class of Stock [Line Items]
Repurchase Price per Share (in dollars per share)		$ 26.12	$ 0		$ 0
Number of Shares Repurchased (in shares)		2,871		0	2,871	0
Gross Consideration		$ 75			$ 75
5% Early Repurchase Fee		6
Net Consideration		$ 69
Class R-U Shares
Class of Stock [Line Items]
Repurchase Price per Share (in dollars per share)	$ 27.07	$ 25.97	$ 0		$ 0
Number of Shares Repurchased (in shares)	25,246	10,837		25,246	36,083	0
Gross Consideration	$ 684	$ 281		$ 684	$ 965
5% Early Repurchase Fee	34	11
Net Consideration	$ 650	$ 270

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Unfunded Commitment
Other Commitments [Line Items]
Other commitment	$ 19,943	$ 8,833

Financial Highlights (Details)

Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands			2 Months Ended	9 Months Ended
	Aug. 05, 2024	May 06, 2024	Sep. 30, 2023	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Per share data attributed to shares
Net assets at end of period (September 30, 2024)				$ 3,421,954		$ 668,036
Shares outstanding (in shares)			13,486,474	125,145,342	100,187,966	27,464,960	40
Class I Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)			$ 0	$ 25.88
Consideration from the issuance of shares, net (in usd per share)			25.45	0
Repurchase of shares (in usd per share)			0	0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				0
Accrued shareholder servicing fees and distribution fees (in usd per share)			0	0
Net investment (loss) income (in usd per share)			0	(0.61)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)			0.27	3.42
Net increase (decrease) in net assets attributed to shareholders (in usd per share)			0.27	2.81
Net asset value per share at end of period (in usd per share)			$ 25.72	$ 28.69
Net assets at end of period (September 30, 2024)			$ 1,693	$ 377		$ 1,804
Shares outstanding (in shares)			65,811	13,123	12,209	69,695	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)			0.13%	0.43%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)			0.68%	3.13%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)			0.32%	3.16%
Operating expenses after Performance Participation Allocation (as a percent)			0.32%	3.16%
Net investment (loss) income (as a percent)			(0.03%)	(2.20%)
Total GAAP return attributed to Shares based on net asset value (as a percent)			1.07%	10.86%
Class I Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)			65,811	6,785
Class U Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)				$ 0
Consideration from the issuance of shares, net (in usd per share)				27.11
Repurchase of shares (in usd per share)				0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				0
Accrued shareholder servicing fees and distribution fees (in usd per share)				(2.10)
Net investment (loss) income (in usd per share)				(0.31)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)				2.07
Net increase (decrease) in net assets attributed to shareholders (in usd per share)				(0.34)
Net asset value per share at end of period (in usd per share)				$ 26.77
Net assets at end of period (September 30, 2024)				$ 3,398		$ 0
Shares outstanding (in shares)				126,934	110,734	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.22%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				1.57%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				1.60%
Operating expenses after Performance Participation Allocation (as a percent)				1.60%
Net investment (loss) income (as a percent)				(1.20%)
Total GAAP return attributed to Shares based on net asset value (as a percent)				(0.37%)
Class U Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)				115,648
Class R-D Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)				$ 0
Consideration from the issuance of shares, net (in usd per share)				27.10
Repurchase of shares (in usd per share)				0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				0
Accrued shareholder servicing fees and distribution fees (in usd per share)				(1.31)
Net investment (loss) income (in usd per share)				(0.58)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)				2.83
Net increase (decrease) in net assets attributed to shareholders (in usd per share)				0.94
Net asset value per share at end of period (in usd per share)				$ 28.04
Net assets at end of period (September 30, 2024)				$ 225,073		$ 0
Shares outstanding (in shares)				8,025,494	2,796,988	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.39%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				2.92%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				2.96%
Operating expenses after Performance Participation Allocation (as a percent)				2.96%
Net investment (loss) income (as a percent)				(2.13%)
Total GAAP return attributed to Shares based on net asset value (as a percent)				7.85%
Class R-D Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)				3,453,213
Class R-I Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)			$ 0	$ 25.87
Consideration from the issuance of shares, net (in usd per share)			25.22	0
Repurchase of shares (in usd per share)		$ 26.12	0	0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				0
Accrued shareholder servicing fees and distribution fees (in usd per share)			0	0
Net investment (loss) income (in usd per share)			(0.03)	(0.50)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)			0.54	3.28
Net increase (decrease) in net assets attributed to shareholders (in usd per share)			0.51	2.78
Net asset value per share at end of period (in usd per share)			$ 25.73	$ 28.65
Net assets at end of period (September 30, 2024)			$ 37,001	$ 1,145,171		$ 115,196
Shares outstanding (in shares)			1,438,086	39,965,310	33,302,088	4,452,158	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)			0.32%	0.42%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)			1.67%	2.98%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)			0.79%	2.93%
Operating expenses after Performance Participation Allocation (as a percent)			0.79%	2.93%
Net investment (loss) income (as a percent)			(0.11%)	(1.83%)
Total GAAP return attributed to Shares based on net asset value (as a percent)			2.65%	10.75%
Class R-I Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)			1,074,681	25,419,205
Class R-U Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)			$ 0	$ 24.08
Consideration from the issuance of shares, net (in usd per share)			25.17	1.90
Repurchase of shares (in usd per share)	$ 27.07	$ 25.97	0	0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				(0.01)
Accrued shareholder servicing fees and distribution fees (in usd per share)			(2.15)	(1.94)
Net investment (loss) income (in usd per share)			(0.03)	(0.44)
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)			1.01	3
Net increase (decrease) in net assets attributed to shareholders (in usd per share)			(1.17)	2.51
Net asset value per share at end of period (in usd per share)			$ 24	$ 26.59
Net assets at end of period (September 30, 2024)			$ 287,561	$ 2,047,627		$ 550,983
Shares outstanding (in shares)			11,982,497	77,004,002	63,960,210	22,941,060	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)			0.35%	0.46%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)			1.80%	3.01%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)			0.85%	2.89%
Operating expenses after Performance Participation Allocation (as a percent)			0.85%	2.89%
Net investment (loss) income (as a percent)			(0.13%)	(1.73%)
Total GAAP return attributed to Shares based on net asset value (as a percent)			(6.02%)	10.42%
Class R-U Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)			9,603,295	54,036,228
Class F Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)				$ 26.02
Consideration from the issuance of shares, net (in usd per share)				0
Repurchase of shares (in usd per share)				0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				0
Accrued shareholder servicing fees and distribution fees (in usd per share)				0
Net investment (loss) income (in usd per share)				0.16
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)				3.20
Net increase (decrease) in net assets attributed to shareholders (in usd per share)				3.36
Net asset value per share at end of period (in usd per share)				$ 29.38
Net assets at end of period (September 30, 2024)				$ 306		$ 51
Shares outstanding (in shares)				10,399	5,657	1,967
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)				0.44%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)				0.53%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)				0.44%
Operating expenses after Performance Participation Allocation (as a percent)				0.44%
Net investment (loss) income (as a percent)				0.58%
Total GAAP return attributed to Shares based on net asset value (as a percent)				12.91%
Class F Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)				6,538
Class G Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)			$ 25	$ 26.02
Consideration from the issuance of shares, net (in usd per share)			0	0
Repurchase of shares (in usd per share)			0	0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				0
Accrued shareholder servicing fees and distribution fees (in usd per share)			0	0
Net investment (loss) income (in usd per share)			0	0.18
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)			0.90	3.18
Net increase (decrease) in net assets attributed to shareholders (in usd per share)			0.90	3.36
Net asset value per share at end of period (in usd per share)			$ 25.90	$ 29.38
Net assets at end of period (September 30, 2024)			$ 1	$ 1		$ 1
Shares outstanding (in shares)			40	40	40	40	40
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)			0.20%	0.44%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)			1.15%	0.65%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)			0.20%	0.44%
Operating expenses after Performance Participation Allocation (as a percent)			0.20%	0.44%
Net investment (loss) income (as a percent)			0.51%	0.68%
Total GAAP return attributed to Shares based on net asset value (as a percent)			3.54%	12.91%
Class G Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)			40	40
Class H Shares
Per share data attributed to shares
Net asset value per share at beginning of period (in usd per share)			$ 25	$ 26.02
Consideration from the issuance of shares, net (in usd per share)			0	0
Repurchase of shares (in usd per share)			0	0
Early repurchase fee (in usd per share)				0
Transfers in (in usd per share)				0
Transfers out (in usd per share)				0
Accrued shareholder servicing fees and distribution fees (in usd per share)			0	0
Net investment (loss) income (in usd per share)			0	0.18
Net realized gain (loss) and change in unrealized appreciation (depreciation) (in usd per share)			0.90	3.18
Net increase (decrease) in net assets attributed to shareholders (in usd per share)			0.90	3.36
Net asset value per share at end of period (in usd per share)			$ 25.90	$ 29.38
Net assets at end of period (September 30, 2024)			$ 1	$ 1		$ 1
Shares outstanding (in shares)			40	40	40	40	0
Ratio/Supplemental data for Shares (not annualized):
Operating expenses before Performance Participation Allocation (as a percent)			0.20%	0.44%
Operating expenses before expenses reimbursed and/or recouped by Manager (as a percent)			1.15%	0.65%
Operating expenses after expenses reimbursed and/or recouped by Manager (as a percent)			0.20%	0.44%
Operating expenses after Performance Participation Allocation (as a percent)			0.20%	0.44%
Net investment (loss) income (as a percent)			0.51%	0.68%
Total GAAP return attributed to Shares based on net asset value (as a percent)			3.54%	12.91%
Class H Shares | Weighted Average
Per share data attributed to shares
Shares outstanding (in shares)			40	40

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate on income from operations	9.80%	0%	6.80%	0%
Federal statutory income tax rate	0%	0%	0%	0%

Subsequent Events - Unregistere

Subsequent Events - Unregistered Sale of Equity Securities (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Oct. 01, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Number of Shares Sold (in shares)		24,982,781	97,720,123	17,800,973
Net Consideration		$ 685,689	$ 2,586,346	$ 447,402
Class I Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)		914	13,653	65,811
Net Consideration		$ 25	$ 364	$ 1,675
Class R-D Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)		5,234,893	8,037,638
Net Consideration		$ 143,918	$ 217,505
Class R-I Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)		6,640,650	35,313,662	1,438,086
Net Consideration		$ 183,286	$ 933,981	$ 36,275
Class R-U Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)		13,085,382	54,219,804	11,982,497
Net Consideration		$ 357,879	$ 1,430,843	$ 301,588
Subsequent Event
Subsequent Event [Line Items]
Net Consideration	$ 257,939
Subsequent Event | Class I Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)	9,584
Net Consideration	$ 275
Subsequent Event | Class R-D Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)	558,976
Net Consideration	$ 15,980
Subsequent Event | Class R-I Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)	4,094,656
Net Consideration	$ 117,329
Subsequent Event | Class R-U Shares
Subsequent Event [Line Items]
Number of Shares Sold (in shares)	4,386,837
Net Consideration	$ 124,355

Subsequent Events - Share Repur

Subsequent Events - Share Repurchase (Details) - USD ($) $ / shares in Units, $ in Thousands				2 Months Ended	3 Months Ended	9 Months Ended
	Nov. 05, 2024	Aug. 05, 2024	May 06, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Number of shares repurchased (in shares)					25,246	38,954	4,314,539
Gross Consideration					$ 684	$ 1,040	$ 107,863
5% Early Repurchase Fee						51
Net Consideration						$ 989
Early share repurchase fee (as a percent)					5%	5%
Class R-U Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)		$ 27.07	$ 25.97	$ 0		$ 0
Number of shares repurchased (in shares)		25,246	10,837		25,246	36,083	0
Gross Consideration		$ 684	$ 281		$ 684	$ 965
5% Early Repurchase Fee		34	11
Net Consideration		$ 650	$ 270
Class R-I Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)			$ 26.12	$ 0		$ 0
Number of shares repurchased (in shares)			2,871		0	2,871	0
Gross Consideration			$ 75			$ 75
5% Early Repurchase Fee			6
Net Consideration			$ 69
Subsequent Event
Subsequent Event [Line Items]
Early share repurchase fee (as a percent)	5%
Subsequent Event | Class R-U Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)	$ 28.35
Number of shares repurchased (in shares)	46,563
Gross Consideration	$ 1,320
5% Early Repurchase Fee	65
Net Consideration	$ 1,255
Subsequent Event | Class R-I Shares
Subsequent Event [Line Items]
Repurchase Price per Share (in dollars per share)	$ 28.65
Number of shares repurchased (in shares)	383
Gross Consideration	$ 11
5% Early Repurchase Fee	1
Net Consideration	$ 10

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Oct. 01, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Subsequent Event [Line Items]
Number of shares issued (in shares)		24,982,781	97,720,123	17,800,973
Accrued performance participation allocation		$ 54,396	$ 54,396		$ 1,508
Class F Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)		4,742	8,432
Subsequent Event | Class F Shares
Subsequent Event [Line Items]
Number of shares issued (in shares)	1,851,319