Externally managed, non-diversified, perpetual-life BDC seeking to maximize total return, primarily through 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 and unitranche loans to sponsor-backed U.S. middle-market companies ($35M-$120M EBITDA), with a smaller syndicated loan sleeve. At 6/30/2026: 185 companies, $944.7M fair value, about 94% senior secured, 97.9% floating, 39% weighted LTV; $552.2M NAV and 0.76x debt-to-equity.