In Q4, the fund’s SPV subsidiary amended its BNP credit agreement, raising the facility cap from $400 million to $500 million, cutting the advance margin to 1.85% during the reinvestment period, and revising unused fee structures. In Q4 2025, the fund declared total distributions of $0.69 per share alongside net investment income of $37.3 million or $0.65 per share. Earnings per share reached $0.63 and NAV stood at $26.89 with a 10.3% annualized distribution yield. As of December 31, 2025, the fund’s $2.9 billion portfolio included 135 companies across 22 sectors with a weighted average yield of 10.0%. The quarter saw $464.6 million in gross fundings and $254.5 million in repayments, netting $210.1 million and adding 16 new companies. During the quarter, the fund issued Class I, S, and D shares for proceeds totaling $92.5 million, plus $93.3 million received through March 11, 2026. It declared $0.23 per share distributions on January 30 and February 27, comprising $0.20 base and $0.03 variable supplements.