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Agreements and Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2025

Related Party Transactions [Abstract]

Summary of Related Party Transactions under the Advisory and Administration Agreements

The following table provides a summary of related party transactions under the Advisory and Administration Agreements with the Adviser for the three and nine months ended September 30, 2025 and 2024:


		For the three months ended September 30,				For the nine months ended September 30,
		2025		2024		2025		2024
Base management fees		$877,923		$840,459		$2,577,693		$2,681,973
Waiver of base management fees		(102,658)		(69,578)		(248,827)		(239,908)
Income-based incentive fees		(18,802)		501,540		(137,550)		501,540
Waiver of income-based incentive fees		—		—		—		—
Capital gains fee		—		—		—		—
Allocation of administrative costs from Adviser		225,390		185,906		707,287		653,680
Total net expense to affiliates		$981,853		$1,458,327		$2,898,603		$3,597,285

Schedule of Resulting from Transactions under the Advisory and Administration Agreements

The following table provides a summary of related party transactions under the Advisory and Administration Agreements with the Adviser as of September 30, 2025 and December 31, 2024:


		September 30, 2025		December 31, 2024
Due from affiliate		$—		$—
Total amount due from affiliate		$—		$—

Base management fees payable		$775,225		$769,176
Income-based incentive fees payable		364,405		501,955
Capital gains fee payable		—		—
Allocation of administrative costs from Adviser payable(1)		139,423		27,868
Total amount due to affiliates		$1,279,053		$1,298,999

(1)

Balances are reported within Accrued Expenses and Other Liabilities on the Consolidated Statements of Assets and Liabilities.