Externally managed, non-diversified, perpetual-life BDC seeking current income and, to a lesser extent, long-term capital appreciation. It invests at least 80% of total assets in private credit: directly originated first-lien senior secured and unitranche loans to U.S. sponsor-backed middle-market companies, with a liquid credit sleeve (syndicated loans, fixed-income mutual funds). At 6/30/2026: 105 companies, $2,476.5M fair value, 90.3% first lien, 99.6% floating, 9.10% yield; at 8/31/2026, about $1.4B NAV and 0.88x debt-to-equity.