Externally managed, non-traded BDC seeking current income and, to a lesser extent, long-term capital appreciation. It lends mainly first lien senior secured loans to U.S. middle-market companies (EBITDA $10M-$250M), mostly directly originated, and invests at least 80% of total assets in debt. At 8/31/2026 it held 810 portfolio companies with $21.8B fair value: 77.2% first lien, 92% of debt floating rate, with $11.9B of debt (1.15x debt-to-equity) against about $10.4B NAV.